Chinese Universe Publishing and Media Group (SHSE:600373) - Share price, News & Analysis

Q: What is the Fair Price of 600373 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

600373 (CN¥9.22) is trading below our estimate of [[fair value]] (CN¥30.04)

600373 fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	0/6
Past Performance	5/6
Financial Health	5/6
Dividends	5/6

600373 Stock Overview

Chinese Universe Publishing and Media Group Co., Ltd.

Rewards

Trading at 69.3% below our estimate of its fair value

Earnings grew by 12.8% over the past year

Risk Analysis

Unstable dividend track record

Chinese Universe Publishing and Media Group Competitors

People.cn

SHSE:603000

CN¥12.2b

Shandong Publishing&MediaLtd

SHSE:601019

CN¥12.4b

Zhejiang Publishing & Media

SHSE:601921

CN¥16.6b

Jiangsu Phoenix Publishing & Media

SHSE:601928

CN¥16.7b

Price History & Performance

Summary of all time highs, changes and price drops for Chinese Universe Publishing and Media Group
Historical stock prices
Current Share Price	CN¥9.22
52 Week High	CN¥14.19
52 Week Low	CN¥8.82
Beta	0.24
1 Month Change	-0.75%
3 Month Change	-11.00%
1 Year Change	-6.68%
3 Year Change	-25.71%
5 Year Change	-62.15%
Change since IPO	-45.99%

Shareholder Returns

	600373	CN Media	CN Market
7D	3.1%	0.8%	1.3%
1Y	-6.7%	-7.7%	-7.2%

Return vs Industry: 600373 matched the CN Media industry which returned -7.7% over the past year.

Return vs Market: 600373 matched the CN Market which returned -7.2% over the past year.

Price Volatility

Is 600373's price volatile compared to industry and market?
600373 volatility
600373 Average Weekly Movement	3.4%
Media Industry Average Movement	5.4%
Market Average Movement	6.0%
10% most volatile stocks in CN Market	9.2%
10% least volatile stocks in CN Market	3.8%

Stable Share Price: 600373 is less volatile than 75% of CN stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: 600373's weekly volatility (3%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
n/a	6,541	Wei Fu	https://www.600373.com.cn

Chinese Universe Publishing and Media Group Co., Ltd. engages in the editing, printing, publishing, and distribution of books, newspapers, periodicals, and electronic audio and visual materials in China. It also offers domestic and foreign trade and supply chain services, logistics and Internet of Things technology applications, and other industrial chain extension services; and media and online education services.

Chinese Universe Publishing and Media Group Fundamentals Summary

How do Chinese Universe Publishing and Media Group's earnings and revenue compare to its market cap?
600373 fundamental statistics
Market Cap	CN¥12.44b
Earnings (TTM)	CN¥2.06b
Revenue (TTM)	CN¥10.72b

6.1x

P/E Ratio

1.2x

P/S Ratio

Is 600373 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
600373 income statement (TTM)
Revenue	CN¥10.72b
Cost of Revenue	CN¥6.57b
Gross Profit	CN¥4.15b
Other Expenses	CN¥2.09b
Earnings	CN¥2.06b

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	1.52
Gross Margin	38.72%
Net Profit Margin	19.18%
Debt/Equity Ratio	35.0%

How did 600373 perform over the long term?

See historical performance and comparison

Dividends

7.4%

Current Dividend Yield

45%

Payout Ratio

We’ve recently updated our valuation analysis.

Valuation

Is 600373 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 600373?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for 600373. This is calculated by dividing 600373's market cap by their current preferred multiple.
What is 600373's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	CN¥12.44b

600373 key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.09x
Enterprise Value/EBITDA	0.7x
PEG Ratio	3.3x

Price to Earnings Ratio vs Peers

How does 600373's PE Ratio compare to its peers?

600373 PE Ratio vs Peers

The above table shows the PE ratio for 600373 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	24.5x
603000 People.cn	71.6x	n/a	CN¥12.2b
601019 Shandong Publishing&MediaLtd	7.8x	5.5%	CN¥12.4b
601921 Zhejiang Publishing & Media	12.1x	n/a	CN¥16.6b
601928 Jiangsu Phoenix Publishing & Media	7.5x	-1.7%	CN¥16.7b
600373 Chinese Universe Publishing and Media Group	6.1x	1.8%	CN¥12.4b

Price-To-Earnings vs Peers: 600373 is good value based on its Price-To-Earnings Ratio (6.1x) compared to the peer average (24.5x).

Price to Earnings Ratio vs Industry

How does 600373's PE Ratio compare vs other companies in the CN Media Industry?

Price-To-Earnings vs Industry: 600373 is good value based on its Price-To-Earnings Ratio (6.1x) compared to the CN Media industry average (27.9x)

Price to Earnings Ratio vs Fair Ratio

What is 600373's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

600373 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	6.1x
Fair PE Ratio	15.8x

Price-To-Earnings vs Fair Ratio: 600373 is good value based on its Price-To-Earnings Ratio (6.1x) compared to the estimated Fair Price-To-Earnings Ratio (15.8x).

Share Price vs Fair Value

What is the Fair Price of 600373 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 600373 (CN¥9.22) is trading below our estimate of fair value (CN¥30.04)

Significantly Below Fair Value: 600373 is trading below fair value by more than 20%.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Future Growth

How is Chinese Universe Publishing and Media Group forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

1.8%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 600373's forecast earnings growth (1.8% per year) is below the savings rate (3.2%).

Earnings vs Market: 600373's earnings (1.8% per year) are forecast to grow slower than the CN market (24.7% per year).

High Growth Earnings: 600373's earnings are forecast to grow, but not significantly.

Revenue vs Market: 600373's revenue (7.1% per year) is forecast to grow slower than the CN market (17.8% per year).

High Growth Revenue: 600373's revenue (7.1% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 600373's Return on Equity is forecast to be low in 3 years time (10.3%).

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Past Performance

How has Chinese Universe Publishing and Media Group performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

8.3%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: 600373 has high quality earnings.

Growing Profit Margin: 600373's current net profit margins (19.2%) are higher than last year (17.5%).

Past Earnings Growth Analysis

Earnings Trend: 600373's earnings have grown by 8.3% per year over the past 5 years.

Accelerating Growth: 600373's earnings growth over the past year (12.8%) exceeds its 5-year average (8.3% per year).

Earnings vs Industry: 600373 earnings growth over the past year (12.8%) exceeded the Media industry 7.1%.

Return on Equity

High ROE: 600373's Return on Equity (12.1%) is considered low.

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Financial Health

How is Chinese Universe Publishing and Media Group's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: 600373's short term assets (CN¥21.7B) exceed its short term liabilities (CN¥11.3B).

Long Term Liabilities: 600373's short term assets (CN¥21.7B) exceed its long term liabilities (CN¥2.3B).

Debt to Equity History and Analysis

Debt Level: 600373 has more cash than its total debt.

Reducing Debt: 600373's debt to equity ratio has increased from 7.1% to 35% over the past 5 years.

Debt Coverage: 600373's debt is well covered by operating cash flow (38.7%).

Interest Coverage: 600373 earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

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Dividend

What is Chinese Universe Publishing and Media Group current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage

7.38%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: 600373's dividend (7.38%) is higher than the bottom 25% of dividend payers in the CN market (0.44%).

High Dividend: 600373's dividend (7.38%) is in the top 25% of dividend payers in the CN market (1.87%)

Stability and Growth of Payments

Stable Dividend: 600373's dividend payments have been volatile in the past 10 years.

Growing Dividend: 600373's dividend payments have increased over the past 10 years.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (44.7%), 600373's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (42.4%), 600373's dividend payments are well covered by cash flows.

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Management

How experienced are the management team and are they aligned to shareholders interests?

10.2yrs

Average board tenure

CEO

Wei Fu (55 yo)

no data

Tenure

CN¥308,400

Compensation

Mr. Wei Zhong Fu has been an Executive Director of Chinese Universe Publishing and Media Group Co., Ltd. (formerly known as Chinese Universe Publishing and Media Co.,Ltd.) since October 23, 2013 and serves...

Board Members

Experienced Board: 600373's board of directors are seasoned and experienced ( 10.2 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/08/17 00:00
End of Day Share Price	2022/08/17 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31