Beijing Bashi Media Co Ltd

Beiba Media released its 2026 interim report. Total operating revenue was 1.299 billion yuan, down 32.45% year-on-year. Net profit attributable to the parent company was negative 25.6223 million yuan, swinging from profit to loss year-on-year, a decline of 500.06%. Net cash inflow from operating activities was 146 million yuan, down 38.90% year-on-year. The company's asset-liability ratio was 52.15%, gross margin was 14.92%, ROE was negative 1.56%, and diluted earnings per share was negative 0.03 yuan. The number of shareholders was 21,500, and the top ten shareholders held 59.18% of shares.

Beijing Public Transport Advertising, a wholly owned subsidiary of Bashan Media, has sued Hainan Baima Advertising Media Investment Company Limited over a lease contract dispute, seeking to recover accumulated unpaid lease operating fees and liquidated damages totaling approximately 181 million yuan. The announcement shows that as of July 20, 2026, Baima Advertising had accumulated unpaid lease operating fees of 152 million yuan in principal, with liquidated damages estimated at 28.99 million yuan based on the contractually agreed daily rate of 0.02 percent. The two parties have maintained a cooperative relationship in bus shelter media resources since 1998, under which Beijing Public Transport Advertising authorized Baima Advertising to exclusively operate the bus shelter advertising light boxes it owns. The plaintiff has repeatedly urged payment through telephone communications, written notices, senior management meetings, and lawyer's letters, but the defendant has never settled the debt as agreed. The case has now been accepted by the Beijing Second Intermediate People's Court and has not yet been heard. Bashan Media reported a net loss attributable to the parent company of 10.4 million yuan in 2025, its first annual loss since 2006, and continued to lose 9.36 million yuan in the first quarter of 2026. The company expects a net loss attributable to the parent company of between 24 million and 28.8 million yuan in the first half of 2026.

Beiba Media disclosed a performance forecast, expecting an attributable net loss of 24 million to 28.8 million yuan in the first half of 2026, compared with a profit of 6.4046 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 25 million to 30 million yuan, versus a profit of 3.638 million yuan a year earlier. The company said the change in performance is mainly due to challenges across its three main business lines. The contraction of the traditional outdoor advertising market has led to a decline in revenue from its cultural media business. The downturn in the domestic auto terminal sales market has hit vehicle sales. Intensifying competition in new energy vehicle charging services has squeezed profit margins. Facing external pressures, the company is advancing cost reduction and efficiency improvement, resource integration, and business structure optimization. This includes strengthening self-operated advertising capabilities, closing inefficient 4S stores and accelerating the transition to new energy, and expanding social charging networks. However, the scrapped vehicle recycling business has seen its capacity release hindered by site relocation. The company noted that while these structural adjustments drag on short-term performance, they are conducive to solidifying asset quality and enhancing risk resilience.