Xinhua Winshare Publishing and Media Company (811) H1 2026 earnings summary

Executive summary

• Revenue for the first half of 2026 was RMB5,007 million, down 9.42% year-over-year, mainly due to lower sales of textbooks and supplementary materials impacted by education policy changes and declining student numbers.

• Net profit was RMB663 million, a decrease of 26.3% year-over-year; net profit attributable to shareholders was RMB654 million, down 23.6%.

• Gross profit margin declined to 36.17% from 39.05% in the prior year, reflecting changes in sales structure and increased discounts.

Financial highlights

• Operating costs decreased 5.14% to RMB3,196 million; principal business costs fell 5.02%.

• Earnings per share was RMB0.53, down from RMB0.69 in the prior year.

• Net cash inflow from operating activities was RMB317 million, down from RMB621 million year-over-year.

• Cash and bank balances stood at RMB9,119 million as of June 30, 2026.

• Gearing ratio was 33.35%, up slightly from 33.24% at year-end 2025.

Outlook and guidance

• Plans to strengthen high-quality content supply, accelerate digital transformation, and expand education and reading services.

• Focus on integrating technology, optimizing supply chain, and enhancing capital operations to drive future growth.