haktutsfreefire| Profits can account for more than half! A Chinese media announcement revealed that publishing teaching aids really makes money! Gross profit margin exceeds 50%

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Source: basic surface force field

Recently listed company Chinese Media (600373HaktutsfreefireSH) issued an announcement that it plans to acquire 100% equity in Jiangjiao Media and 51% in University Publishing House, of which Jiangjiao Media's main business is the publication and distribution of periodicals, and University Publishing House is mainly engaged in the publication and distribution of teaching materials and other books.

According to the analysis of the listed companies in the announcement, the listed companies will further increase in terms of the scale of operating income and the net profit belonging to the shareholders of the parent company, and their profitability will be improved. Mr. Force Field took a look, not to mention that the profitability of the two assets planned to be acquired is indeed very strong.

Take the university press as an example, the revenue in the last three years is more than 500 million, about 600 million, the net profit is more than 60 million in 2021 and 2022, and more than 90 million in the first 10 months of 2023; especially in terms of gross profit margin, each reporting period is more than 50%, which is much higher than the existing gross profit margin of the Chinese media.

Li Changjun is still quite surprised, originally thought that more or less public welfare teaching materials publishing business, unexpectedly so profitable, profits can account for more than half! Higher than the gross profit margin of 600436.SH, it seems that the monopolistic business is really a money printing machine, which must also play a big role in boosting the performance of Chinese media after the acquisition of shares.

On the other hand, Mr. Force Field also noticed a detail that in this acquisition, both equity projects also gave performance commitments, but both were lower than the current profits of the two companies.

Take the university press as an example, the net profit of homing in the first 10 months of this year has already exceeded 90 million yuan, reaching 92.7903 million yuan, but the promised net profit in 2024 given in the acquisition plan is only 68.3775 million yuan, and only a little over 70 million in the next two years. Why?Haktutsfreefire?

Back to the Chinese media itself, the performance in 2023 was very mediocre. Revenue fell slightly by 1.49% compared with the same period last year, while non-net profit fell by 10.09%. Net profit did not increase for three consecutive years.

However, executive compensation has increased a lot. According to the annual report, after experiencing a relatively large salary increase in 2022, the annual salaries of all senior executives in Chinese media are basically more than one million, which is higher than the company's performance. More significantly than the overall employee pay increase.

Li Changjun also hopes that through this acquisition, the performance of listed companies can also be raised to a higher level, so that investors can also share the high-quality business and investment profits that account for more than half of the profits.

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