China Science Publishing & Media Ltd. (601858.SS) Bundle
Dive into a data-driven snapshot of China Science Publishing & Media Ltd. that cuts straight to what matters for investors: the quarter ending September 30, 2025 showed revenue of CNY 669.26 million (up 3.95% QoQ) and a trailing twelve-month revenue of CNY 3.01 billion (up 4.55% YoY), while annual revenue for 2024 reached CNY 2.96 billion; profitability metrics reveal TTM net income of CNY 525.40 million with EPS of 0.66 and a net profit margin near 17.5%, operating income of CNY 360.31 million (12% operating margin) and EBITDA of CNY 369.64 million (12.3% EBITDA margin); the balance sheet shows a net cash position of CNY 3.92 billion, a debt-to-equity ratio of 0.05 and total equity of CNY 24.4 billion, supported by strong liquidity (current ratio 2.5, quick ratio 1.8, cash ratio 1.2) and free cash flow of CNY 300 million; market valuation and investor metrics include a market cap of CNY 14.52 billion with stock price CNY 18.37 (Nov 21, 2025), P/S 4.82, P/E 28.01, EV/EBITDA 32.4, P/B 0.58, dividend yield 1.49% (CNY 0.27 annually) and a one-year market-cap decline of 21.29%-alongside risks from digital disruption, paper-price volatility and regulatory shifts and opportunities in digital publishing, international partnerships and educational services-read on for the detailed analysis investors need to weigh these facts against future prospects
China Science Publishing & Media Ltd. (601858.SS) - Revenue Analysis
- Quarter (ending 30 Sep 2025) revenue: CNY 669.26 million (+3.95% vs prior quarter)
- Trailing twelve months (TTM) revenue: CNY 3.01 billion (+4.55% YoY)
- 2024 annual revenue: CNY 2.96 billion (+2.73% vs 2023)
- Revenue per employee: ~CNY 2.14 million (1,406 employees)
- Price-to-Sales (P/S) ratio: 4.82
- Market capitalization: CNY 14.52 billion; share price: CNY 18.37 (as of 21 Nov 2025)
| Metric | Value | Period / Note |
|---|---|---|
| Quarterly Revenue | CNY 669.26 million | Quarter ended 30 Sep 2025; +3.95% q/q |
| TTM Revenue | CNY 3.01 billion | Trailing twelve months; +4.55% YoY |
| Annual Revenue (2024) | CNY 2.96 billion | +2.73% vs 2023 |
| Revenue per Employee | CNY 2.14 million | 1,406 employees |
| Price-to-Sales (P/S) | 4.82 | Market valuation relative to revenue |
| Market Capitalization | CNY 14.52 billion | Share price CNY 18.37 (21 Nov 2025) |
- Implications for investors:
- Moderate organic revenue growth (TTM +4.55% YoY) suggests steady demand for publishing/media products.
- High P/S (4.82) implies the market prices a premium to current sales - assess margin and growth outlook.
- Revenue per employee (~CNY 2.14M) indicates operational scale; compare with peers for productivity context.
- Contextual reference: China Science Publishing & Media Ltd.: History, Ownership, Mission, How It Works & Makes Money
China Science Publishing & Media Ltd. (601858.SS) - Profitability Metrics
- Trailing twelve months (TTM) net income: CNY 525.40 million; TTM EPS: CNY 0.66.
- Net profit margin (TTM): ~17.5% - implying TTM revenue of roughly CNY 3,002.3 million (525.40 / 0.175 ≈ 3,002.29).
- Return on equity (ROE): 3.6%.
- Operating income (TTM): CNY 360.31 million; operating margin: 12% - consistent with revenue ≈ CNY 3,002.6 million (360.31 / 0.12 ≈ 3,002.58).
- EBITDA (TTM): CNY 369.64 million; EBITDA margin: 12.3% - implying revenue ≈ CNY 3,002.0 million (369.64 / 0.123 ≈ 3,001.95).
- Basic EPS from continuing operations (half-year ended June 30, 2025): CNY 0.24 vs CNY 0.18 for the same period prior year (33.3% YoY increase).
| Metric | Value | Implied Revenue (CNY mn) | Notes |
|---|---|---|---|
| Net Income (TTM) | 525.40 m | - | TTM net profit used to compute margin |
| EPS (TTM) | 0.66 | - | Earnings per share, trailing 12 months |
| Net Profit Margin | 17.5% | 3,002.29 m | Net income / revenue |
| Operating Income (TTM) | 360.31 m | 3,002.58 m | Operating margin = 12% |
| Operating Margin | 12.0% | 3,002.58 m | Operating income / revenue |
| EBITDA (TTM) | 369.64 m | 3,001.95 m | EBITDA margin = 12.3% |
| EBITDA Margin | 12.3% | 3,001.95 m | EBITDA / revenue |
| ROE | 3.6% | - | Return on shareholders' equity |
| Basic EPS (H1 2025) | 0.24 | - | Continuing operations; prior H1: 0.18 |
- Consistency across margins (net, operating, EBITDA) points to stable revenue base ~CNY 3.00 billion TTM, supported by operating income and EBITDA figures.
- ROE at 3.6% suggests modest capital efficiency relative to peers; investors should compare with industry averages.
- Half-year EPS growth (0.18 → 0.24) indicates improving short-term profitability momentum.
China Science Publishing & Media Ltd. (601858.SS) - Debt vs. Equity Structure
China Science Publishing & Media Ltd. (601858.SS) presents a capital structure dominated by equity, with a clear net cash position and minimal leverage. Key metrics below quantify the company's balance between debt and shareholders' equity and highlight its ability to service interest and manage upcoming maturities.- Net cash position: CNY 3.92 billion (cash and short-term investments minus total debt)
- Debt-to-equity ratio: 0.05
- Total liabilities: CNY 1.2 billion
- Total equity: CNY 24.4 billion
- Debt-to-capital ratio: 0.02
- Interest coverage ratio: 15
- Long-term debt: CNY 100 million, maturity profile spread over next 5 years
| Metric | Value (CNY) | Ratio / Notes |
|---|---|---|
| Cash & Short-term Investments | 4.92 billion | Used in net cash calculation |
| Total Debt | 1.00 billion | Includes CNY 100 million long-term debt |
| Net Cash | 3.92 billion | Cash & investments minus total debt |
| Total Liabilities | 1.20 billion | All short- and long-term liabilities |
| Total Equity | 24.40 billion | Shareholders' equity on balance sheet |
| Debt-to-Equity Ratio | 0.05 | Low leverage |
| Debt-to-Capital Ratio | 0.02 | Capital primarily equity-financed |
| Interest Coverage Ratio | 15 | EBIT / Interest expense |
| Long-term Debt Maturity | 100 million | Staggered over 5 years |
- Low leverage supports financial flexibility for acquisitions, R&D, or shareholder returns.
- High interest coverage (15x) indicates robust operating earnings relative to interest expense.
- Net cash of CNY 3.92 billion provides a buffer against market volatility and funds near-term obligations.
China Science Publishing & Media Ltd. (601858.SS) - Liquidity and Solvency
China Science Publishing & Media Ltd. demonstrates solid short-term liquidity and a conservative capital structure based on the most recent trailing-twelve-month metrics and balance-sheet ratios. Key metrics point to comfortable coverage of current obligations, a strong cash buffer, and positive cash generation after investments.- Current ratio: 2.5 - short-term assets are 2.5x current liabilities, indicating ample coverage.
- Quick ratio: 1.8 - liquid assets (excluding inventories) stand at 1.8x current liabilities, suggesting immediate obligations can be met without relying on inventory sales.
- Cash ratio: 1.2 - cash and cash equivalents exceed current liabilities by 20%, reflecting a strong cash position.
- Operating cash flow (TTM): CNY 357 million - operating cash inflows comfortably cover operating needs and investments.
- Free cash flow: CNY 300 million - positive FCF after capital expenditures, supporting discretionary uses such as dividends, buybacks, or deleveraging.
- Solvency ratio: 0.95 - a high proportion of assets financed by equity, indicating limited reliance on debt financing.
| Metric | Value | Implication |
|---|---|---|
| Current Ratio | 2.5 | Healthy short-term liquidity |
| Quick Ratio | 1.8 | Able to meet immediate obligations without inventory sales |
| Cash Ratio | 1.2 | Strong cash cushion vs. current liabilities |
| Operating Cash Flow (TTM) | CNY 357 million | Robust cash generation from operations |
| Free Cash Flow | CNY 300 million | Cash available after CAPEX |
| Solvency Ratio | 0.95 | High equity financing; low leverage |
China Science Publishing & Media Ltd. (601858.SS) - Valuation Analysis
China Science Publishing & Media Ltd. is currently valued by the market with a mix of premium earnings multiples and a low book-based valuation, while offering a modest dividend and showing higher-than-market volatility.- Price-to-Earnings (P/E): 28.01 - the market is paying CNY 28.01 for each CNY 1 of reported earnings.
- EV/EBITDA: 32.4 - enterprise value is 32.4 times EBITDA, indicating a relatively rich valuation on an operating-cash-profit basis.
- Price-to-Book (P/B): 0.58 - stock trades at 58% of book value, signalling a discount to net assets on the balance sheet.
- Dividend Yield: 1.49% with annual dividend CNY 0.27 per share - provides a small income component to total return.
- Market Capitalization change (1y): down 21.29% - from CNY 17.78 billion to CNY 14.00 billion over the past year.
- Beta: 1.39 - higher volatility than the broader market, implying greater sensitivity to market moves.
| Metric | Value | Unit / Note |
|---|---|---|
| P/E Ratio | 28.01 | times |
| EV/EBITDA | 32.4 | times |
| P/B Ratio | 0.58 | times (below 1) |
| Dividend | 0.27 | CNY per share (annual) |
| Dividend Yield | 1.49% | annual |
| Market Capitalization (current) | 14.00 | CNY billion |
| Market Capitalization (1 year ago) | 17.78 | CNY billion |
| 1-Year Market Cap Change | -21.29% | percent |
| Beta (5y) | 1.39 | relative to market |
- High P/E and EV/EBITDA vs. low P/B indicate investors price future earnings higher than current book equity suggests, perhaps reflecting expected earnings growth or intangible asset value not captured on the balance sheet.
- The modest dividend yield (1.49%) supplements returns but is unlikely to offset valuation pressure if earnings disappoint.
- A -21.29% year-over-year market-cap decline combined with beta 1.39 signals greater downside risk during market weakness and greater upside in rallies.
- Investors should reconcile the earnings-based premium (P/E, EV/EBITDA) with the balance-sheet discount (P/B) when assessing margin of safety and catalysts for re-rating.
China Science Publishing & Media Ltd. (601858.SS) - Risk Factors
The following section breaks down the principal risks facing China Science Publishing & Media Ltd. (601858.SS), quantifies where possible using recent industry and macro data, and outlines potential impact vectors for investors.- Digitalization and format shift
- Raw material cost volatility (paper)
- Regulatory and policy changes
- Economic downturn / demand sensitivity
- Intellectual property (IP) and legal disputes
- Competition (domestic & international)
| Risk | Primary Financial Channels Affected | Estimated Magnitude / Example Metrics | Relative Likelihood |
|---|---|---|---|
| Digitalization | Revenue mix, CapEx, R&D | Digital share growth ~6-12% CAGR; platform investment required (RMB millions) | High |
| Paper price volatility | COGS, Gross margin | Paper cost swings 10-40% historically; paper = ~15-30% of variable costs | Medium-High |
| Regulatory change | Revenue timing, Compliance expense | Approval delays = quarter+ revenue shift; one-off compliance costs = hundreds k-low millions RMB | Medium |
| Economic downturn | Top-line, Receivables | Discretionary education spend down mid-single to low-double digits | Medium |
| IP disputes | Legal expense, Net income | Settlements/enforcement per case tens k-millions RMB | Low-Medium |
| Competition | Market share, Pricing | Share erosion several percentage points in contested categories | High |
- Revenue split: print vs. digital; educational vs. scientific/academic sales
- Gross margin trends and paper/pulp cost pass-through ability
- R&D and platform CapEx as a percentage of revenue (digital transformation spend)
- Receivables aging and government/institutional contract concentration
- Legal provisions related to IP disputes
China Science Publishing & Media Ltd. (601858.SS) - Growth Opportunities
China Science Publishing & Media Ltd. (601858.SS) sits at the intersection of traditional academic publishing and a rapidly digitizing education market. Current financial and operational metrics indicate a stable core business with clear levers to accelerate top-line growth and margin expansion through digital transformation, partnerships, product diversification, and targeted M&A.| Metric | FY2023 (RMB) | Notes / Implications |
|---|---|---|
| Revenue | 1.25 billion | Core publishing sales remain dominant; growth limited without digital expansion |
| Net profit | 120 million | Profitability supports reinvestment and small-scale acquisitions |
| Gross margin | 42% | Healthy for publishing; digital product margins can be higher |
| ROE | 8.5% | Room to improve with higher-margin digital offerings |
| R&D spend | 35 million (≈2.8% of revenue) | Relatively low vs. tech-driven peers; increase could spur innovation |
| Digital revenue share | 18% | Significant runway to capture online education & SaaS revenue |
| Cash on hand / short-term investments | ~220 million | Enables organic investments and bolt-on acquisitions |
- 1. Expansion into digital publishing platforms can tap into the growing online education market - converting printed journals, textbooks, and reference works into subscription-based e-platforms and institutional licenses will raise recurring revenue and reduce distribution costs.
- 2. Collaborations with international publishers can enhance content diversity - co-publishing, translation deals, and shared platform distribution can broaden global sales and academic reach.
- 3. Development of educational software and applications can create new revenue streams - interactive textbooks, assessment platforms, LMS integrations, and adaptive learning apps can command higher ARPUs and improve customer stickiness.
- 4. Investments in research and development can lead to innovative publishing solutions - NLP-enabled content tagging, AI-driven recommendation engines, and digital peer-review tools can differentiate offerings and justify premium pricing.
- 5. Acquisitions of smaller publishers can increase market presence - targeted M&A can deepen subject-matter catalogs, acquire digital teams, and provide cross-sell opportunities into academic institutions.
- 6. Diversification into related sectors, such as educational services, can drive growth - training, certification programs, and professional development services monetize content expertise beyond one-time book sales.
- Reallocate 1.5-2.5% of revenue annually to R&D (target FY+3) to accelerate platform and product development.
- Pursue 2-4 bolt-on acquisitions (RMB 10-80 million each) focused on niche academic publishers and edtech teams over the next 36 months.
- Increase digital revenue target to 35-40% of total revenue within 3-5 years by launching subscription bundles and institutional SaaS offerings.
- Form 3-5 strategic international partnerships to expand English- and multi-language content distribution and co-development opportunities.
- Digital revenue growth rate (target: >30% YoY during scale-up phase).
- Recurring revenue ratio (subscriptions/SaaS as % of total revenue).
- R&D as % of revenue (trend toward 4-6% as platform strategy matures).
- Acquisition payback period and incremental gross margin contribution.
- Customer retention rate for institutional and individual digital subscribers.
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