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Guangdong media company operating IPTV/digital-television services under a state broadcasting licence.
Guangdong media company operating IPTV/digital-television services under a state broadcasting licence.
Runs the platform that carriers use to deliver IPTV to Guangdong homes, so income comes from a share of subscriber fees via the operators plus advertising rather than billing viewers directly. Growth depends on how many households the carriers sign up and on competition from video streaming apps.
In one line: A Chinese regional IPTV/cable-adjacent operator.
Moat: narrow (regulatory licence). IPTV/broadcast content licences in China are tightly restricted to state-approved operators.
Headquarters: Guangdong, China · Employees: 420
Size Guangdong South New Media (300770.SZ) is a China Communication Services company (Major Telecommunications) with a market value of $1.37B, the 1775th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥40.56 on 6 Nov 2026.
Performance Over six months the shares gained 6.9%, against -17.1% for the median peer and -16.4% for the China market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue fell 5.6% over the last twelve months (peer median +5.5%); the operating margin is 37.5% (peer median 9.4%).
Valuation It trades at 13.8× forward earnings against a peer median of 19.1× (5th cheapest of 13).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 22.3 points above its cost of capital (7.4% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.55B | CN¥1.62B | CN¥1.57B | CN¥1.52B | CN¥1.43B |
| Revenue growth | — | +3% | +3% | +7% | — |
| Gross profit | CN¥779M | CN¥764M | CN¥777M | CN¥774M | CN¥756M |
| EBITDA | n/a | CN¥739M | CN¥718M | CN¥736M | CN¥756M |
| Net income | CN¥613M | CN¥660M | CN¥658M | CN¥708M | CN¥691M |
| Free cash flow | CN¥692M | CN¥700M | CN¥337M | CN¥572M | CN¥903M |
| Capital expenditure | CN¥130M | CN¥99.2M | CN¥55.7M | CN¥84.4M | CN¥132M |
| Total debt | CN¥15.5M | CN¥1.99M | CN¥9.31M | CN¥17.8M | CN¥24.9M |
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Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 300770.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +19.7% | -0.3% | 2nd highest of 21 |
| 6-month return | +6.9% | -17.1% | 6th highest of 21 |
| Distance from 52-week high | -21.2% | -34.0% | 8th highest of 21 |
| Revenue growth (TTM) | -5.6% | +5.5% | 4th lowest of 21 |
| Operating margin | 37.5% | 9.4% | 2nd highest of 21 |
| Forward P/E | 13.8× | 19.1× | 5th cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | -1.5% | 5.6% | least demanding of 15 |
| Growth delivered (Del g) | +5.9% | +5.9% | 8th highest of 15 |
| Hurdle (Req g minus delivered) | -7.4 pp | +5.6 pp | 4th least demanding of 15 |
| ROIC minus cost of capital | +22.3 pp | -2.7 pp | 2nd highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Guangdong South New Media 300770.SZ | China | $1.37B | +7% | -6% | 37% | 13.8× | -1.5% | +5.9% |
| Gamma Communications GAMA.L | United Kingdom | $1.32B | +23% | +7% | 15% | 11.9× | -0.4% | +10.4% |
| Uniti UNIT | United States | $1.27B | -54% | +200% | 10% | n/a | n/a | n/a |
| Grupo Televisa, S.A.B. Sponsored ADR TV | United States | $1.24B | -18% | +6% | 11% | 9.9× | 1.1% | -7.5% |
| Hicon Network Technology (Shandong) 301262.SZ | China | $1.21B | +1% | +2% | 38% | 30.8× | 5.4% | +0.1% |
| Liberty Latin America LILA | United States | $1.73B | +72% | +1% | 17% | n/a | 0.5% | +3.4% |
| HKBN 1310.HK | Hong Kong | $1.02B | -25% | +6% | 3% | 10.1× | n/a | n/a |
| IDT IDT | United States | $2.18B | +54% | +5% | 9% | 19.5× | 5.7% | -2.2% |
| RailTel Corp. of India RAILTEL.NS | India | $817M | -31% | +23% | 10% | 18.8× | 31.3% | +25.4% |
| Eutelsat Communications ETL.PA | France | $2.40B | -40% | -1% | -6% | n/a | n/a | n/a |
| ITI ITI.NS | India | $2.53B | -18% | -41% | -1% | n/a | n/a | n/a |
| Bahnhof BAHN-B.ST | Sweden | $681M | +12% | +8% | 11% | 25.2× | 10.9% | +8.5% |
| NetLink NBN Trust CJLU.SI | Singapore | $2.87B | -7% | 0% | 22% | 44.5× | 16.0% | +2.3% |
| Liberty Global LBTYB | United States | $3.09B | -17% | -27% | -1% | n/a | n/a | n/a |
| Shenandoah Telecommunications SHEN | United States | $534M | -40% | +6% | -3% | n/a | n/a | n/a |
| NOVA Technology 300921.SZ | China | $504M | -32% | +2% | 5% | n/a | 23.9% | +2.2% |
| Ooma OOMA | United States | $497M | -7% | +17% | 5% | 13.0× | 22.7% | +10.1% |
| Internet Initiative Japan 3774.T | Japan | $4.05B | +30% | +14% | 9% | 25.3× | 2.3% | +10.2% |
| Lumen Technologies LUMN | United States | $4.12B | -59% | -8% | -3% | n/a | 5.1% | -9.7% |
| ATN International ATNI | United States | $432M | -1% | +2% | 8% | 31.5× | 4.5% | +9.8% |
| Ovzon OVZON.ST | Sweden | $417M | -26% | +77% | 26% | 18.0× | 13.1% | +35.6% |