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Central state publishing conglomerate including the Commercial Press and People's Literature, spanning books, printing and distribution.
Central state publishing conglomerate including the Commercial Press and People's Literature, spanning books, printing and distribution.
Revenue comes from book sales through distributors and bookstores to schools, libraries and readers, with long-lived reference titles such as dictionaries bringing repeat sales. The company is part of the central state-owned China Publishing Group.
In one line: China's state-owned Penguin Random House.
Moat: narrow (brand, distribution). Owns China's oldest and best-known publishing imprints with nationwide distribution reach.
Headquarters: Beijing, China · Employees: 3,544
Size China Publishing & Media (601949.SS) is a China Communication Services company (Publishing: Books/Magazines) with a market value of $1.64B, the 1509th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥5.74 on 6 Nov 2026.
Performance Over six months the shares fell 2.2%, against +0.9% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue fell 10.2% over the last twelve months (peer median -3.2%); the operating margin is 3.5% (peer median 7.4%).
Valuation It trades at 15.9× forward earnings against a peer median of 14.1× (8th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is -2%, so the hurdle is +8 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.3 points below its cost of capital (6.7% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥5.15B | CN¥5.32B | CN¥6.10B | CN¥6.28B | CN¥6.12B |
| Revenue growth | — | -13% | -3% | +3% | — |
| Gross profit | CN¥1.60B | CN¥1.68B | CN¥1.81B | CN¥1.81B | CN¥1.74B |
| EBITDA | CN¥411M | CN¥559M | CN¥747M | CN¥718M | CN¥674M |
| Net income | CN¥530M | CN¥647M | CN¥644M | CN¥967M | CN¥650M |
| Free cash flow | CN¥866M | CN¥863M | CN¥124M | CN¥917M | CN¥135M |
| Capital expenditure | CN¥178M | CN¥180M | CN¥538M | CN¥46.3M | CN¥1.18B |
| Total debt | CN¥437M | CN¥379M | CN¥424M | CN¥177M | CN¥531M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| China Publishing & Media 601949.SS | $1.64B | -2% | -10% | 3% | 15.9× | 6.3% |
| Jiangsu Phoenix Publishing & Media 601928.SS | $3.60B | 0% | -13% | 7% | 15.4× | -7.9% |
| China South Publishing & Media 601098.SS | $3.11B | +2% | -1% | 11% | 13.6× | -20.2% |
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 | 601949.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.2% | +7.4% | 6th lowest of 21 |
| 6-month return | -2.2% | +0.9% | 9th lowest of 21 |
| Distance from 52-week high | -29.0% | -15.9% | 6th lowest of 21 |
| Revenue growth (TTM) | -10.2% | -3.2% | 4th lowest of 21 |
| Operating margin | 3.5% | 7.4% | 7th lowest of 21 |
| Forward P/E | 15.9× | 14.1× | 8th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 6.3% | 0.5% | 8th most demanding of 19 |
| Growth delivered (Del g) | -2.1% | +0.9% | 5th lowest of 19 |
| Hurdle (Req g minus delivered) | +8.5 pp | -4.4 pp | 7th most demanding of 19 |
| ROIC minus cost of capital | -4.3 pp | +4.0 pp | 4th lowest of 21 |
| EV / EBITDA | 13.4× | 11.0× | 3rd most expensive of 6 |
| Net debt / EBITDA | -15.7× | -2.5× | 2nd least indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China Publishing & Media 601949.SS | China | $1.64B | -2% | -10% | 3% | 15.9× | 6.3% | -2.1% |
| Changjiang Publishing & Media 600757.SS | China | $1.67B | +6% | -3% | 11% | 9.9× | -9.5% | +1.2% |
| Chinese Universe Publishing & Media 600373.SS | China | $1.57B | -6% | -5% | -4% | 26.0× | n/a | n/a |
| Southern Publishing & Media 601900.SS | China | $2.09B | +27% | -3% | 16% | 11.6× | -10.2% | +4.7% |
| China Science Publishing & Media 601858.SS | China | $2.31B | -23% | 0% | 10% | 31.4× | 25.2% | +3.6% |
| Shandong Publishing & Media 601019.SS | China | $2.41B | +3% | -8% | 8% | 12.2× | -14.1% | +2.9% |
| John Wiley & Sons WLY | United States | $2.55B | +21% | 0% | 18% | 10.5× | 0.3% | -2.9% |
| Heilongjiang Publishing & Media 605577.SS | China | $1.03B | +37% | +2% | 7% | n/a | 3.2% | -0.5% |
| Storytel STORY-B.ST | Sweden | $1.01B | +37% | +9% | 12% | 20.2× | 12.0% | +12.5% |
| Zhejiang Publishing & Media 601921.SS | China | $2.71B | +7% | -7% | 10% | 14.0× | -12.6% | +1.5% |
| Citic Press 300788.SZ | China | $958M | -6% | -2% | 1% | 42.0× | 26.8% | -2.1% |
| Central China Land Media 000719.SZ | China | $2.91B | +5% | -10% | 13% | 10.5× | -8.9% | -0.5% |
| Kadokawa 9468.T | Japan | $3.02B | -2% | +3% | 2% | 101.9× | 25.1% | +6.1% |
| China South Publishing & Media 601098.SS | China | $3.11B | +2% | -1% | 11% | 13.6× | -20.2% | +3.8% |
| China Literature 0772.HK | Hong Kong | $3.18B | -9% | +12% | 2% | 34.3× | 40.8% | -3.6% |
| Time Publishing & Media 600551.SS | China | $761M | -5% | -25% | 4% | 11.7× | -21.0% | +0.7% |
| Jiangsu Phoenix Publishing & Media 601928.SS | China | $3.60B | 0% | -13% | 7% | 15.4× | -7.9% | +0.5% |
| Bloomsbury Publishing BMY.L | United Kingdom | $722M | +9% | -7% | 9% | 14.1× | 0.7% | +12.0% |
| Scholastic SCHL | United States | $685M | -7% | -3% | 1% | 20.8× | n/a | n/a |
| Dook Media 301025.SZ | China | $603M | -11% | -5% | 4% | n/a | 52.3% | -3.1% |
| Northern United Publishing & Media (Group) 601999.SS | China | $581M | -4% | -20% | 2% | n/a | 20.0% | -3.8% |