Xinhua Winshare Publishing and Media Company (811) H2 2025 earnings summary

Executive summary

• Operating income for 2025 was RMB11,732 million, down 4.84% year-over-year, mainly due to lower sales of textbooks and supplementary materials amid a challenging education services market.

• Net profit reached RMB1,608 million, up 0.25% year-over-year, with net profit attributable to shareholders at RMB1,568 million, up 1.53%.

• Earnings per share increased to RMB1.27 from RMB1.25 last year.

• The Board proposed a final dividend of RMB0.42 per share, totaling RMB518 million, subject to AGM approval.

Financial highlights

• Revenue: RMB11,732 million (down 4.84% YoY); Operating costs: RMB7,555 million (down 3.17% YoY).

• Gross profit margin: 35.60%, down 1.11 percentage points YoY.

• Net profit: RMB1,608 million; Net profit attributable to shareholders: RMB1,568 million.

• Cash and short-term deposits: RMB8,813 million; Gearing ratio: 33.24%, down 1.22 ppt YoY.

• Net cash inflow from operating activities: RMB1,508 million (down 14.90% YoY).

Outlook and guidance

• Focus on innovation-driven growth, digital transformation, and high-quality content publishing.

• Plans to enhance education services, expand digital and intelligent educational products, and deepen supply chain and capital operations.

• Proactive adaptation to policy and technological changes, with emphasis on AI and digital platforms.