Reported Earnings • May 01
First quarter 2026 earnings released: EPS: CN¥0.63 (vs CN¥0.70 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.63 (down from CN¥0.70 in 1Q 2025). Revenue: CN¥376.8m (down 7.3% from 1Q 2025). Net income: CN¥143.2m (down 11% from 1Q 2025). Profit margin: 38% (down from 40% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, compared to a 6.1% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. New Risk • Apr 22
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 97% Cash payout ratio: 94% Dividend yield: 7.0% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. This is currently the only risk that has been identified for the company. Announcement • Apr 13
Guangdong Southern New Media Co.,Ltd., Annual General Meeting, May 08, 2026 Guangdong Southern New Media Co.,Ltd., Annual General Meeting, May 08, 2026, at 15:00 China Standard Time. Location: The Company's Meeting Room, Guangzhou, Guangdong China Announcement • Mar 31
Guangdong Southern New Media Co.,Ltd. to Report Q1, 2026 Results on Apr 29, 2026 Guangdong Southern New Media Co.,Ltd. announced that they will report Q1, 2026 results on Apr 29, 2026 Reported Earnings • Mar 18
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: CN¥2.89 (up from CN¥2.87 in FY 2024). Revenue: CN¥1.63b (up 3.1% from FY 2024). Net income: CN¥659.4m (flat on FY 2024). Profit margin: 41% (down from 42% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.3%. Revenue is forecast to grow 3.6% p.a. on average during the next 2 years, compared to a 8.1% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 2% per year. Announcement • Dec 31
Guangdong Southern New Media Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 29, 2026 Guangdong Southern New Media Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 29, 2026 Reported Earnings • Oct 28
Third quarter 2025 earnings released: EPS: CN¥0.73 (vs CN¥0.66 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.73 (up from CN¥0.66 in 3Q 2024). Revenue: CN¥419.1m (up 4.0% from 3Q 2024). Net income: CN¥166.0m (up 11% from 3Q 2024). Profit margin: 40% (up from 37% in 3Q 2024). Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Oct 25
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 68% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (68% accrual ratio). Minor Risk Dividend is not well covered by cash flows (305% cash payout ratio). Announcement • Oct 14
Guangdong South New Media Co.,Ltd. Approves 2025 Interim Profit Distribution Guangdong South New Media Co.,Ltd. held its 1st Extraordinary General Meeting of 2025 on 10 October 2025, during which the following proposal(s) was/were approved the 2025 interim profit distribution of CNY 10.00000000 per 10 shares (tax included). Announcement • Sep 30
Guangdong South New Media Co.,Ltd. to Report Q3, 2025 Results on Oct 25, 2025 Guangdong South New Media Co.,Ltd. announced that they will report Q3, 2025 results on Oct 25, 2025 Price Target Changed • Sep 01
Price target increased by 17% to CN¥51.75 Up from CN¥44.06, the current price target is an average from 2 analysts. New target price is 13% above last closing price of CN¥45.92. Stock is up 36% over the past year. The company is forecast to post earnings per share of CN¥3.10 for next year compared to CN¥2.87 last year. Price Target Changed • Jul 30
Price target increased by 9.4% to CN¥44.06 Up from CN¥40.27, the current price target is an average from 2 analysts. New target price is 6.1% above last closing price of CN¥41.54. Stock is up 26% over the past year. The company is forecast to post earnings per share of CN¥3.06 for next year compared to CN¥2.87 last year. Announcement • Jul 02
Guangdong South New Media Co.,Ltd. to Report First Half, 2025 Results on Aug 27, 2025 Guangdong South New Media Co.,Ltd. announced that they will report first half, 2025 results on Aug 27, 2025 Major Estimate Revision • May 03
Consensus EPS estimates increase by 11% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from CN¥2.76 to CN¥3.06. Revenue forecast steady at CN¥1.60b. Net income forecast to grow 5.5% next year vs 29% growth forecast for Media industry in China. Consensus price target down from CN¥41.35 to CN¥40.27. Share price was steady at CN¥39.00 over the past week. Reported Earnings • Apr 28
First quarter 2025 earnings released: EPS: CN¥0.70 (vs CN¥0.65 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.70 (up from CN¥0.65 in 1Q 2024). Revenue: CN¥406.6m (up 1.5% from 1Q 2024). Net income: CN¥160.8m (up 8.7% from 1Q 2024). Profit margin: 40% (up from 37% in 1Q 2024). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has increased by 3% per year. Announcement • Apr 26
Guangdong South New Media Co.,Ltd., Annual General Meeting, May 21, 2025 Guangdong South New Media Co.,Ltd., Annual General Meeting, May 21, 2025, at 15:00 China Standard Time. Location: The Company's Meeting Room, Guangzhou, Guangdong China New Risk • Apr 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Mar 31
Guangdong South New Media Co.,Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Guangdong South New Media Co.,Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 Announcement • Dec 31
Guangdong South New Media Co.,Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2025 Guangdong South New Media Co.,Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2025 Reported Earnings • Oct 30
Third quarter 2024 earnings released: EPS: CN¥0.66 (vs CN¥0.74 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.66 (down from CN¥0.74 in 3Q 2023). Revenue: CN¥402.9m (flat on 3Q 2023). Net income: CN¥149.6m (down 12% from 3Q 2023). Profit margin: 37% (down from 42% in 3Q 2023). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥38.70, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 18x in the Media industry in China. Total loss to shareholders of 4.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥56.00 per share. Price Target Changed • Oct 12
Price target increased by 9.8% to CN¥40.92 Up from CN¥37.25, the current price target is an average from 3 analysts. New target price is 5.8% above last closing price of CN¥38.66. Stock is up 7.9% over the past year. The company is forecast to post earnings per share of CN¥2.68 for next year compared to CN¥3.09 last year. Announcement • Oct 11
Guangdong South New Media Co.,Ltd. (SZSE:300770) announces an Equity Buyback for CNY 100 million worth of its shares. Guangdong South New Media Co.,Ltd. (SZSE:300770) announces a share repurchase program. Under the program, the company will repurchase up to CNY 100 million worth of its shares. The repurchase price will not more than CNY 49 per Share. The repurchased shares will be used used to reduce the company’s registered capital. The repurchases will be funded using company's own funds. The program is subject to shareholder's approval. The repurchase period will be not more than 12 months from the date the General Meeting approves the share repurchase plan.
Since the company's 2024 semi-annual equity distribution was completed on September 30, 2024, it adjusted the upper limit of the repurchase price of shares from CNY 49 per share to CNY 48.20 per share. Buy Or Sell Opportunity • Oct 09
Now 28% undervalued Over the last 90 days, the stock has risen 19% to CN¥40.60. The fair value is estimated to be CN¥56.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.6% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 8.3% in 2 years. Earnings are forecast to grow by 6.4% in the next 2 years. Announcement • Sep 30
Guangdong South New Media Co.,Ltd. to Report Q3, 2024 Results on Oct 26, 2024 Guangdong South New Media Co.,Ltd. announced that they will report Q3, 2024 results on Oct 26, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥41.00, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 17x in the Media industry in China. Negligible returns to shareholders over past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥56.26 per share. Announcement • Sep 20
Guangdong South New Media Co.,Ltd. Approves Interim Dividend for the Year 2024 Guangdong South New Media Co.,Ltd. approved at its EGM held on 18 September 2024 the interim cash dividend/10 shares (tax included) of CNY 8.00000000 for the year 2024. Reported Earnings • Aug 31
Second quarter 2024 earnings released: EPS: CN¥0.56 (vs CN¥0.70 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.56 (down from CN¥0.70 in 2Q 2023). Revenue: CN¥370.8m (up 6.0% from 2Q 2023). Net income: CN¥130.0m (down 18% from 2Q 2023). Profit margin: 35% (down from 45% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 8.9% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Price Target Changed • Jul 02
Price target decreased by 20% to CN¥38.50 Down from CN¥48.12, the current price target is an average from 3 analysts. New target price is 13% above last closing price of CN¥34.17. Stock is down 25% over the past year. The company is forecast to post earnings per share of CN¥2.76 for next year compared to CN¥3.09 last year. Announcement • Jun 29
Guangdong South New Media Co.,Ltd. to Report First Half, 2024 Results on Aug 30, 2024 Guangdong South New Media Co.,Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Announcement • Jun 25
Guangdong South New Media Co.,Ltd. Announces Final Cash Dividend (A Shares) for the Year 2023, Payable on June 28, 2024 Guangdong South New Media Co.,Ltd. implemented final Cash dividend per 10 shares (tax included) to be implemented (A shares) of CNY 10.60000000Record date is June 27, 2024. Ex-date is June 28, 2024. Payment date is June 28, 2024. Announcement • May 25
Guangdong South New Media Co.,Ltd., Annual General Meeting, Jun 13, 2024 Guangdong South New Media Co.,Ltd., Annual General Meeting, Jun 13, 2024, at 15:00 China Standard Time. Location: The Company's Meeting Room, Guangzhou, Guangdong China Price Target Changed • May 06
Price target decreased by 11% to CN¥46.12 Down from CN¥51.62, the current price target is an average from 4 analysts. New target price is 19% above last closing price of CN¥38.82. Stock is down 27% over the past year. The company is forecast to post earnings per share of CN¥2.63 for next year compared to CN¥3.09 last year. Major Estimate Revision • Apr 29
Consensus EPS estimates fall by 22% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from CN¥1.67b to CN¥1.57b. EPS estimate also fell from CN¥3.37 per share to CN¥2.63 per share. Net income forecast to shrink 7.8% next year vs 38% growth forecast for Media industry in China . Consensus price target of CN¥48.12 unchanged from last update. Share price was steady at CN¥38.01 over the past week. Reported Earnings • Apr 24
First quarter 2024 earnings released: EPS: CN¥0.65 (vs CN¥0.74 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.65 (down from CN¥0.74 in 1Q 2023). Revenue: CN¥400.6m (up 12% from 1Q 2023). Net income: CN¥148.0m (down 13% from 1Q 2023). Profit margin: 37% (down from 48% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.5% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Mar 30
Guangdong South New Media Co.,Ltd. to Report Q1, 2024 Results on Apr 23, 2024 Guangdong South New Media Co.,Ltd. announced that they will report Q1, 2024 results on Apr 23, 2024 Reported Earnings • Mar 01
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: CN¥3.09 (up from CN¥3.02 in FY 2022). Revenue: CN¥1.52b (up 6.6% from FY 2022). Net income: CN¥707.7m (up 2.4% from FY 2022). Profit margin: 47% (down from 48% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.4%. Revenue is forecast to grow 6.2% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥34.65, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 17x in the Media industry in China. Total loss to shareholders of 34% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥29.44 per share. Buy Or Sell Opportunity • Feb 07
Now 23% overvalued Over the last 90 days, the stock has fallen 16% to CN¥33.15. The fair value is estimated to be CN¥27.01, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 6.2% over the last 3 years. Earnings per share has grown by 6.1%. Revenue is forecast to grow by 19% in 2 years. Earnings are forecast to grow by 21% in the next 2 years. Announcement • Dec 29
Guangdong South New Media Co.,Ltd. to Report Fiscal Year 2023 Results on Apr 23, 2024 Guangdong South New Media Co.,Ltd. announced that they will report fiscal year 2023 results on Apr 23, 2024 New Risk • Dec 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 6.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (262% accrual ratio). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.6% average weekly change). Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥46.61, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 20x in the Media industry in China. Total loss to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥27.11 per share. Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.74 (vs CN¥0.77 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.74 (down from CN¥0.77 in 3Q 2022). Revenue: CN¥401.8m (up 11% from 3Q 2022). Net income: CN¥170.1m (down 2.6% from 3Q 2022). Profit margin: 42% (down from 48% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Guangdong South New Media Co.,Ltd. to Report Q3, 2023 Results on Oct 28, 2023 Guangdong South New Media Co.,Ltd. announced that they will report Q3, 2023 results on Oct 28, 2023 Announcement • Sep 15
Guangdong South New Media Co.,Ltd. Approves Profit Distribution Proposal for the First Half of 2023 Guangdong South New Media Co.,Ltd. at its 2nd Extraordinary General Meeting of 2023 held on September 13, 2023 approved the profit distribution proposal for the first half of 2023 as follows: Cash dividend/10 shares (tax included): CNY 8.00000000. Price Target Changed • Sep 02
Price target decreased by 8.7% to CN¥51.62 Down from CN¥56.55, the current price target is an average from 4 analysts. New target price is 28% above last closing price of CN¥40.30. Stock is up 12% over the past year. The company is forecast to post earnings per share of CN¥3.20 for next year compared to CN¥3.02 last year. Announcement • Sep 01
Guangdong South New Media Co.,Ltd. Announces Profit Distribution Proposal for the First Half of 2023 Guangdong South New Media Co.,Ltd. announced on 29 August 2023 the profit distribution proposal for the first half of 2023 as follows: Cash dividend/10 shares (tax included): CNY 8.00000000. Reported Earnings • Aug 29
Second quarter 2023 earnings released: EPS: CN¥0.70 (vs CN¥0.73 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.70 (down from CN¥0.73 in 2Q 2022). Revenue: CN¥349.9m (down 1.0% from 2Q 2022). Net income: CN¥158.8m (down 4.6% from 2Q 2022). Profit margin: 45% (down from 47% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Price Target Changed • Aug 16
Price target increased by 9.5% to CN¥56.55 Up from CN¥51.65, the current price target is an average from 4 analysts. New target price is 42% above last closing price of CN¥39.81. Stock is up 15% over the past year. The company is forecast to post earnings per share of CN¥3.22 for next year compared to CN¥3.02 last year. Buying Opportunity • Jul 27
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 17%. The fair value is estimated to be CN¥51.71, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has grown by 10%. Revenue is forecast to grow by 23% in 2 years. Earnings is forecast to grow by 20% in the next 2 years. Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥54.13, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 22x in the Media industry in China. Total loss to shareholders of 50% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥49.92 per share. Announcement • May 24
Guangdong South New Media Co.,Ltd. Implements Final Cash Dividend of A Shares for 2022, Payable on May 30, 2023 Guangdong South New Media Co.,Ltd. implemented final Cash dividend/10 A shares (tax included) of CNY 13.60000000 for 2022. Record date: 29 May 2023; Ex-date: 30 May 2023; Payment date: 30 May 2023. Announcement • May 18
Guangdong South New Media Co.,Ltd. Approves Final Cash Dividend/10 Shares for 2022 Guangdong South New Media Co.,Ltd. approved final Cash dividend/10 shares (tax included) of CNY 13.60000000 for 2022 at its Annual General Meeting of 2022 on 16 May 2023. Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to CN¥43.44, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 20x in the Media industry in China. Total loss to shareholders of 53% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥50.59 per share. Price Target Changed • May 17
Price target increased by 9.5% to CN¥56.55 Up from CN¥51.65, the current price target is provided by 1 analyst. New target price is 31% above last closing price of CN¥43.00. Stock is up 24% over the past year. The company posted earnings per share of CN¥3.02 last year. Major Estimate Revision • Apr 28
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from CN¥1.74b to CN¥1.52b. EPS estimate fell from CN¥3.46 to CN¥3.17 per share. Net income forecast to grow 10% next year vs 15% growth forecast for Media industry in China. Consensus price target up from CN¥42.87 to CN¥51.65. Share price was steady at CN¥49.16 over the past week. Price Target Changed • Apr 28
Price target increased by 20% to CN¥51.65 Up from CN¥42.87, the current price target is an average from 4 analysts. New target price is 5.1% above last closing price of CN¥49.16. Stock is up 40% over the past year. The company is forecast to post earnings per share of CN¥3.17 for next year compared to CN¥3.02 last year. Price Target Changed • Apr 24
Price target increased by 8.1% to CN¥46.34 Up from CN¥42.87, the current price target is an average from 4 analysts. New target price is 6.3% below last closing price of CN¥49.44. Stock is up 53% over the past year. The company is forecast to post earnings per share of CN¥3.20 for next year compared to CN¥3.02 last year. Reported Earnings • Apr 23
First quarter 2023 earnings released: EPS: CN¥0.74 (vs CN¥0.74 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.74 (in line with 1Q 2022). Revenue: CN¥356.7m (down 8.1% from 1Q 2022). Net income: CN¥170.4m (flat on 1Q 2022). Profit margin: 48% (up from 44% in 1Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 21% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 17% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to CN¥59.50, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 22x in the Media industry in China. Total loss to shareholders of 31% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥47.65 per share. Buying Opportunity • Jan 17
Now 21% undervalued Over the last 90 days, the stock is up 21%. The fair value is estimated to be CN¥47.71, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 31% in 2 years. Earnings is forecast to grow by 34% in the next 2 years. Board Change • Nov 16
High number of new and inexperienced directors There are 10 new directors who have joined the board in the last 3 years. The company's board is composed of: 10 new directors. No experienced directors. No highly experienced directors. Shareholder Supervisors Ye Liao is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 28
Third quarter 2022 earnings released: EPS: CN¥0.77 (vs CN¥0.80 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.77 (down from CN¥0.80 in 3Q 2021). Revenue: CN¥363.4m (up 1.8% from 3Q 2021). Net income: CN¥174.8m (down 4.7% from 3Q 2021). Profit margin: 48% (down from 51% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Announcement • Aug 31
Guangdong South New Media Co.,Ltd. Announces Management Changes Guangdong South New Media Co.,Ltd. at the extraordinary general meeting held on August 29, 2022 approved election of Cai Fuqing, Qian Chun, Yang Dejian, Wang Wei as non-independent directors, Wang Jianye, Han Guoqiang, Zhang Fuming as independent directors and Ma Yangzhou, Liao Ye, Zhai Yingdong as shareholder supervisors. Reported Earnings • Aug 26
Second quarter 2022 earnings released: EPS: CN¥0.73 (vs CN¥0.87 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.73 (down from CN¥0.87 in 2Q 2021). Revenue: CN¥353.6m (up 6.4% from 2Q 2021). Net income: CN¥166.4m (down 17% from 2Q 2021). Profit margin: 47% (down from 60% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 16%, compared to a 14% growth forecast for the Media industry in China. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Jun 09
Guangdong South New Media Co.,Ltd. Announces Final Dividend on A Shares for the Year 2021, Payable on June 14, 2022 Guangdong South New Media Co.,Ltd. announced final cash dividend/10 shares (tax included) of CNY 12.00000000 on A shares for the year 2021. Record date is June 14, 2022. Ex-date is June 15, 2022. Payment date is June 15, 2022. Announcement • May 24
Guangdong South New Media Co.,Ltd. Approves Cash Dividend for the Year 2021 Guangdong South New Media Co.,Ltd. approved cash dividend (Tax included) of CNY 12.000000 per 10 shares for the year 2021, at the AGM held on May 20, 2022. Price Target Changed • May 03
Price target decreased to CN¥48.39 Down from CN¥60.28, the current price target is an average from 4 analysts. New target price is 38% above last closing price of CN¥35.08. Stock is down 25% over the past year. The company is forecast to post earnings per share of CN¥3.15 for next year compared to CN¥2.96 last year. Reported Earnings • Apr 28
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: EPS: CN¥0.74 (up from CN¥0.70 in 1Q 2021). Revenue: CN¥388.4m (up 19% from 1Q 2021). Net income: CN¥171.5m (up 6.1% from 1Q 2021). Profit margin: 44% (down from 50% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.0%. Earnings per share (EPS) also surpassed analyst estimates by 2.4%. Over the next year, revenue is forecast to grow 14%, compared to a 14% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 17
Full year 2021 earnings: EPS exceeds analyst expectations Full year 2021 results: EPS: CN¥2.96 (up from CN¥2.49 in FY 2020). Revenue: CN¥1.41b (up 15% from FY 2020). Net income: CN¥679.7m (up 18% from FY 2020). Profit margin: 48% (up from 47% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.4%. Over the next year, revenue is forecast to grow 15%, compared to a 14% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment deteriorated over the past week After last week's 17% share price decline to CN¥50.00, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 19x in the Media industry in China. Total loss to shareholders of 16% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥91.09 per share. Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improved over the past week After last week's 30% share price gain to CN¥65.37, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 16x in the Media industry in China. Total loss to shareholders of 10% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥88.28 per share. Reported Earnings • Oct 28
Third quarter 2021 earnings released: EPS CN¥0.80 (vs CN¥0.64 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥356.8m (up 13% from 3Q 2020). Net income: CN¥183.3m (up 23% from 3Q 2020). Profit margin: 51% (up from 47% in 3Q 2020). The increase in margin was driven by higher revenue. Reported Earnings • Aug 25
Second quarter 2021 earnings released: EPS CN¥0.87 (vs CN¥0.71 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥332.4m (up 11% from 2Q 2020). Net income: CN¥199.6m (up 23% from 2Q 2020). Profit margin: 60% (up from 55% in 2Q 2020). The increase in margin was primarily driven by higher revenue. Valuation Update With 7 Day Price Move • Jul 12
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥56.78, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Media industry in China. Total loss to shareholders of 58% over the past year. Simply Wall St's valuation model estimates the intrinsic value at CN¥95.25 per share. Announcement • May 27
Guangdong South New Media Co.,Ltd. Announces Cash Dividend for 2020, Payable on 01 June 2021 Guangdong South New Media Co.,Ltd. announced cash dividend (tax included) of CNY 8.00000000 per 10 shares for 2020. Record date is 31 May 2021. Ex-date is 01 June 2021. Payment date is 01 June 2021. Announcement • May 22
Guangdong South New Media Co.,Ltd. Approves Cash Dividend for 2020 Guangdong South New Media Co.,Ltd. approved cash dividend (tax included) of CNY 8.00000000 per 10 shares for 2020 at the AGM held on 20 May 2021. Price Target Changed • May 07
Price target decreased to CN¥86.88 Down from CN¥101, the current price target is an average from 9 analysts. New target price is 80% above last closing price of CN¥48.19. Stock is down 47% over the past year. Announcement • Apr 29
Guangdong South New Media Co.,Ltd. Announces Profit Distribution Proposal for 2020 Guangdong South New Media Co.,Ltd. announced profit distribution proposal for 2020 a cash dividend per 10 shares (tax included): CNY 8.00000000. Reported Earnings • Apr 17
Full year 2020 earnings released: EPS CN¥2.49 (vs CN¥1.87 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥1.22b (up 23% from FY 2019). Net income: CN¥574.9m (up 45% from FY 2019). Profit margin: 47% (up from 40% in FY 2019). The increase in margin was driven by higher revenue. Price Target Changed • Apr 17
Price target decreased to CN¥101 Down from CN¥115, the current price target is an average from 7 analysts. New target price is 103% above last closing price of CN¥49.82. Stock is down 46% over the past year. Is New 90 Day High Low • Mar 10
New 90-day low: CN¥53.40 The company is down 31% from its price of CN¥77.35 on 10 December 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is down 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥50.58 per share. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorated over the past week After last week's 18% share price decline to CN¥54.31, the stock is trading at a trailing P/E ratio of 21.9x, down from the previous P/E ratio of 26.6x. This compares to an average P/E of 26x in the Media industry in China. Total return to shareholders over the past year is a loss of 51%. Is New 90 Day High Low • Jan 25
New 90-day low: CN¥58.80 The company is down 31% from its price of CN¥85.12 on 27 October 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is down 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥52.39 per share. Is New 90 Day High Low • Jan 05
New 90-day low: CN¥63.40 The company is down 32% from its price of CN¥93.62 on 30 September 2020. The Chinese market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥52.36 per share. Price Target Changed • Dec 23
Price target lowered to CN¥117 Down from CN¥129, the current price target is an average from 9 analysts. The new target price is 68% above the current share price of CN¥69.51. As of last close, the stock is up 0.01% over the past year. Valuation Update With 7 Day Price Move • Dec 04
Market bids up stock over the past week After last week's 19% share price gain to CN¥79.19, the stock is trading at a trailing P/E ratio of 31.9x, up from the previous P/E ratio of 26.9x. This compares to an average P/E of 33x in the Media industry in China. Total returns to shareholders over the past year are 23%. Is New 90 Day High Low • Nov 06
New 90-day low: CN¥82.08 The company is down 26% from its price of CN¥111 on 07 August 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥47.20 per share. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥573.8m, up 76% from the prior year. Total revenue was CN¥1.17b over the last 12 months, up 26% from the prior year. Is New 90 Day High Low • Oct 19
New 90-day low: CN¥90.26 The company is down 26% from its price of CN¥122 on 21 July 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥219 per share. 
