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SBI to Make Livedoor a Wholly Owned Subsidiary for About 7.5 Billion Yen
SBI Holdings announced on the 17th that it will make internet-related company Livedoor a wholly owned subsidiary. It will acquire all of Livedoor's shares from parent company Minkabu The Infonoid for about 7.5 billion yen. SBI Chairman and President Yoshitaka Kitao and Takafumi Horie, who led Livedoor, once clashed in the battle for control of Nippon Broadcasting System shares, so the two have now come together as a group, transcending their past feud. SBI will strengthen its media business by leveraging Livedoor's assets, including its news sites in Japan and overseas. Minkabu will form a capital alliance with NTT Data, and the three companies including SBI will consider new services in the financial sector, aiming to become a financial information platformer originating in Japan.
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Minkabu forms capital and business alliance with NTT Data, to sell Livedoor to SBI
Minkabu The Infonoid announced on the 17th that it will form a capital and business alliance with NTT Data and sign a three-party business partnership agreement with NTT Data and SBI Holdings. Minkabu shareholders will sell their shares to NTT Data, giving NTT Data more than 16% of Minkabu's voting rights. Meanwhile, Minkabu will sell all shares in its consolidated subsidiary Livedoor to SBI Holdings, using the gain to fully repay the group's borrowings, and will record about 3 billion yen as an extraordinary profit in its consolidated results for the fiscal year ending March 2027. SBI will become Minkabu's second-largest shareholder after NTT Data, holding just over 8% of its voting rights. Through the alliance, the three companies aim to combine the customer bases and financial business expertise of NTT Data and the SBI Group with Minkabu's financial data content and its touchpoints with individual investors to create and roll out new financial services.
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ST Huawen's controlling subsidiary plans to acquire 23 charging station asset groups for 10.7193 million yuan
ST Huawen announced on the evening of September 17 that its controlling subsidiary, Hainan Ankechong Charging Technology Co., Ltd., plans to acquire, for 10.7193 million yuan in cash, a group of 23 new energy vehicle charging station assets held by Hainan Xiaoji Technology Co., Ltd. The assets are located in Haikou and Sanya, and include tangible assets such as charging equipment and power distribution facilities, as well as intangible asset rights including site lease usage rights and station operation rights. According to an appraisal report issued by Beijing Yachao Asset Appraisal Co., Ltd., using the income approach with a valuation base date of March 31, 2026, the total investment in the target assets was 15.3583 million yuan, and the appraised value was 10.7193 million yuan, with the transaction price consistent with the appraised value. This transaction amount accounts for 0.48% of the company's audited total assets of 2.253 billion yuan for 2025, and 18.30% of the net assets attributable to shareholders of the listed company of 58.5747 million yuan. It does not constitute a major asset restructuring or a related-party transaction, and has been approved by the company's management, without the need for review by the board of directors or shareholders' meeting. The company stated that, affected by changes in the external industry environment, its traditional media business is under growth pressure, and its cultural tourism segment faces challenges such as adjustments in consumption structure. After this acquisition, it will rapidly expand the operating scale of its new energy charging business and promote the new energy operation segment to become a source of business revenue. Just over two months ago, the company completed the execution of its restructuring plan and, on July 31, removed its delisting risk warning, with its stock abbreviation changed from *ST Huawen to ST Huawen.
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Wiley Posts 3% Revenue Drop as AI Licensing Business Reaches $14 Million
John Wiley & Sons reported fiscal first-quarter revenue fell 3% to $386 million and adjusted earnings per share dropped 10% to $0.44 from $0.49, a decline the company attributed largely to a known comparison problem. The research business brought in $293 million, up 4%, with research publishing climbing 12% to $259 million, while the AI business generated $14 million in the quarter, of which $10.5 million came from model training and $3.5 million was recurring, with another $14 million already contracted for delivery across the next two quarters. The learning segment was the clear soft spot, with revenue down 20% to $93 million as academic revenue fell 20% to $45 million and professional revenue fell the same amount to $48 million, partly reflecting the loss of a $29 million non-recurring AI licensing benefit from last year's quarter. The Emerald Publishing acquisition added $13 million in revenue and $5 million in adjusted EBITDA but pushed net debt to $1.2 billion and net debt to EBITDA to 2.7 times from 1.9 times a year earlier, while free cash flow remained negative at a $70 million use of cash. Wiley reaffirmed its full-year guidance, including adjusted EPS of $4.60 to $5.05, up from $4.19, and organic revenue growth in the low to mid single digits.
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OpenAI and News Organizations Submit Briefs to District Court Over Fair Use in AI Training
In a lawsuit filed against U.S.-based OpenAI and Microsoft for allegedly using copyrighted works without permission to train AI, both the plaintiffs and defendants submitted documents on the 4th to a federal court in New York, outlining their arguments over whether the use of copyrighted works for training purposes constitutes "fair use" under copyright law. Both sides requested a favorable ruling from Judge Stein. In the lawsuit, news organizations including The New York Times claimed that OpenAI and its major investor Microsoft used millions of articles without permission for training. Prominent authors such as John Grisham and George R.R. Martin also alleged unauthorized use of their books. OpenAI argued that "training extracts statistical patterns of language, which is highly transformative use and does not harm authors," while Microsoft countered that "the training and use of large language models do not substitute for copyrighted books." On the other hand, the authors' group pointed out that "AI is diluting the entire book market," and news organizations argued that "using plaintiffs' works for competitive purposes cannot be justified as fair use." Numerous lawsuits over AI training and copyright are pending across the country. This year, a federal court in California ruled that Anthropic and Meta's use of books constituted "transformative use," while some expressed concerns about the impact of generative AI on the market for copyrighted works. Judge Stein's decision in this case is expected to have significant implications for future litigation.
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Pearson and Illinois Tech Partner on Workforce Credentials
Pearson and Illinois Institute of Technology have announced a partnership to explore employability pathways, industry-aligned credentials, and AI-enabled workforce solutions. The collaboration combines Pearson's global expertise in learning and assessment with Illinois Tech's strengths in technology education and career-focused programs. Key areas of focus include curriculum development, healthcare education, and dual enrollment opportunities for high school students. The organizations will also evaluate workforce credentialing and lifelong learning programs, aiming to connect learners with in-demand skills and career success.
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Xinhua Media plans major asset restructuring, to acquire controlling stake in Jiemian Cailianshe
Xinhua Media announced that the company plans to acquire a controlling stake in Shanghai Jiemian Cailianshe Technology Co., Ltd. through a share issuance, which is expected to constitute a major asset restructuring but not a backdoor listing. The transaction constitutes a related-party transaction, with the counterparties preliminarily identified as entities including Shanghai United Media Group Culture New Media Investment Management Co., Ltd., a wholly owned subsidiary of the controlling shareholder Shanghai United Media Group. Trading in the company's shares has been suspended since September 7, with the suspension expected to last no more than 10 trading days. The transaction is still in the planning stage, and the valuation and pricing of the underlying assets have not yet been determined.
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Xinhua Media Plans Share Issuance to Acquire Controlling Stake in Jiemian Cailianshe
Xinhua Media, stock code 600825, is planning to issue shares to purchase a controlling stake in Shanghai Jiemian Cailianshe Technology Company Limited, a deal expected to constitute a major asset restructuring. Trading in the company's shares has been suspended since the market opened on September 7 and will remain suspended from the market open on September 8, 2026, with the cumulative suspension expected not to exceed 10 trading days. The transaction is still in the planning stage, and the valuation and pricing of the target assets have not yet been determined. It does not constitute a restructuring and listing, but it does constitute a related-party transaction. Xinhua Media has signed a letter of intent for asset purchase with Shanghai United Media Group Culture New Media Investment Management Company Limited, a wholly owned subsidiary of its controlling shareholder Shanghai United Media Group. The final price will be based on an appraisal report. Jiemian Cailianshe is a financial news agency supervised and sponsored by Shanghai United Media Group, serving more than 150 financial institutions, over 5,000 listed companies, 200 million stock investors, and 700 million fund investors. In the first half of 2026, Xinhua Media achieved operating revenue of 631 million yuan and net profit attributable to the parent company of 32.76 million yuan.
Publishing
Xinhua Media plans major asset restructuring, remains suspended
Xinhua Media announced on the evening of September 7 that it intends to acquire a controlling stake in Shanghai Interface Cailianshe Technology Co., Ltd. through a share issuance, which is expected to constitute a major asset restructuring but not a restructuring and listing. The transaction constitutes a related-party transaction, and the counterparties are preliminarily determined to be entities including Shanghai United Media Group Cultural New Media Investment Management Co., Ltd., a wholly-owned subsidiary of the controlling shareholder Shanghai United Media Group. Xinhua Media has been suspended from trading since the market opened on September 7 and will remain suspended from the market open on September 8, with the cumulative suspension period expected not to exceed 10 trading days. The company has signed a letter of intent for asset purchase with the major shareholders of the target company, and the final price will be determined through negotiation based on the appraisal results. The transaction is still in the planning stage and is subject to uncertainty.
Publishing▲
Berkshire Hathaway Boosts New York Times Stake Again
Warren Buffett's Berkshire Hathaway increased its stake in The New York Times Company for the second consecutive quarter, growing its share count by more than 3.5% in the second quarter of 2026. According to the latest 13F filing, Berkshire held 15.7 million shares as of June 29, 2026, worth about $1.1 billion, up 553,465 shares from the prior quarter, a 3.65% increase. This position now equals 9.78% of the company's outstanding shares, though it represents just 0.32% of Berkshire's overall portfolio. The buying spree follows strong quarterly results for the publisher, including a 16.4% rise in digital subscription revenue to $408 million and a 20.7% jump in digital advertising revenue to $114 million. Management projects digital subscription revenue growth of 12% to 15% for the full year, with analysts forecasting revenue to expand from $2.82 billion in 2025 to $3.52 billion in 2028.
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gumi Rises for First Time in Three Days, Stimulated by SBI's Additional Acquisition of Brangista
gumi rose for the first time in three days. The previous day, September 3, SBI Holdings announced that it would acquire additional shares of Brangista through its subsidiary SBINM to strengthen business consolidation, and expectations are growing that this could also be a tailwind for gumi, which is also advancing business collaboration with the SBI Group. Meanwhile, Brangista saw a rush of buying from the morning and was indicated at its limit-up price.
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Wiley Q1 AI Revenue Hits $14M, Up 40%
John Wiley & Sons reported first-quarter fiscal 2027 results, with AI revenue surging 40% to $14 million, ahead of the pace needed for its full-year target of over $50 million. Research segment revenue rose 4% to $293 million, while Learning segment revenue fell 20% to $93 million, partly due to prior-year AI licensing comparisons. Adjusted EBITDA declined 4% year-over-year, with Research adjusted EBITDA up 9% to $87 million and margin expanding 130 basis points to 29.6%. The company reaffirmed its full-year guidance, expecting momentum to build through the year, and highlighted strategic partnerships with the US Department of Energy's Genesis Mission and CuspAI.
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Trump Administration Files Brief Supporting OpenAI in NYT Lawsuit
The Trump administration on the 2nd filed a brief in a New York City federal court supporting OpenAI in a copyright infringement lawsuit brought by The New York Times (NYT) and others. The administration argued that AI training constitutes fair use of copyrighted material and that restricting the training of large language models would harm scientific progress and national security. In response, an NYT spokesperson criticized the administration for "siding with a handful of AI companies valued at around $1 trillion at the expense of countless American creators whose works have been stolen," and argued that AI companies should comply with copyright law and pay fair compensation. An OpenAI spokesperson did not respond to requests for comment. The lawsuit was initially filed by NYT in 2023, alleging that OpenAI and Microsoft used millions of NYT articles without permission to train the large language models underlying ChatGPT.
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US backs OpenAI in copyright case, calls AI training fair use
The Trump administration has filed a brief in Manhattan federal court supporting OpenAI in its copyright dispute with The New York Times, arguing that training AI models on copyrighted material can generally qualify as fair use. The filing, reported by Reuters, marks the government's first known position in the legal battle over AI training data. While not binding, the support could bolster OpenAI and other tech firms facing lawsuits from publishers and creators. The Times sued OpenAI and Microsoft in 2023, alleging unauthorized use of millions of articles to train ChatGPT. Courts have split on whether AI training is transformative enough for fair-use protection, and the administration has also urged other countries to adopt similar fair-use standards.
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North Media completes BEAM acquisition for grid balancing
North Media has completed the acquisition of the BEAM software platform, a digital tool for electricity grid balancing, as announced in Company Announcement no. 14/2026. The platform will enable households, housing associations, and businesses with solar panels, heat pumps, hot-water storage tanks, or batteries to make these assets available to Energinet, helping maintain grid balance and allowing owners to reduce electricity bills and generate income. North Media aims to develop BEAM into the market-leading solution, contributing to renewable energy demand and grid flexibility. The impact on earnings is recognized under unallocated Group income/costs, with an expected loss of DKK 5 million in 2026.
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Martin Frandsen Tobberup named CEO of BEAM operator
North Media has completed its acquisition of the BEAM software platform from Bodil Energy for DKK 9 million, and Martin Frandsen Tobberup will become Chief Executive Officer of the company operating BEAM effective 1 September 2026. Tobberup will retain his current roles as Group Executive Director and CDO of North Media, and from 4 September he will also serve as interim CEO of BoligPortal. The announcement follows the interim report for the second quarter, which had flagged the transaction. North Media operates platforms connecting businesses and consumers, with core areas in last-mile distribution and digital services.
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Guangdong Media's H1 2026 revenue was 271 million yuan, with a net loss of 34.19 million yuan
Guangdong Media disclosed its 2026 semi-annual report on August 29. In the first half of the year, it achieved total operating revenue of 271 million yuan, down 1.24% year on year. Net profit attributable to the parent company was a loss of 34.19 million yuan, compared with a profit of 105 million yuan in the same period last year. Net profit after deducting non-recurring items was a loss of 65.24 million yuan, compared with a profit of 50.69 million yuan a year earlier. Net cash flow from operating activities was negative 18.33 million yuan, versus negative 5.23 million yuan in the prior-year period. During the reporting period, basic earnings per share were negative 0.0294 yuan, and the weighted average return on equity was negative 0.81%. The company's main businesses cover integrated marketing communications, AI video and film, printing, media operations, cultural and creative park operations, sales e-commerce, and cultural industry investment.
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Guangdong Media's 2026 interim net loss was 34.19 million yuan, swinging from profit to loss year-on-year
Guangdong Media released its 2026 interim report. Total operating revenue was 271 million yuan, down 1.24% year-on-year. Net profit attributable to the parent company was a loss of 34.19 million yuan, a decrease of 139 million yuan compared with the same period last year, down 132.72% year-on-year, swinging from profit to loss. Net cash flow from operating activities was a negative 18.33 million yuan, a decrease of 13.10 million yuan year-on-year. The asset-liability ratio was 17.19%, gross margin was 29.64%, return on equity was negative 0.83%, and diluted earnings per share was negative 0.03 yuan. The company had 90,000 shareholders, and the top ten shareholders held 69.10% of total share capital.
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City Media's H1 2026 revenue hits 1 billion yuan, net loss attributable to parent at 22.5053 million yuan
City Media disclosed its 2026 semi-annual report on August 29. In the first half of the year, it achieved total operating revenue of 1 billion yuan, down 9.60% year-on-year. Net loss attributable to the parent company was 22.5053 million yuan, compared with a profit of 40.2771 million yuan in the same period last year. Net profit after deducting non-recurring items was 65.6196 million yuan, up 16.02% year-on-year. During the reporting period, the company's total non-recurring gains and losses were negative 88.1249 million yuan, of which government subsidies included in current profit or loss were 6.5656 million yuan, and fair value changes and disposal gains or losses from financial assets and financial liabilities held by non-financial enterprises were negative 94.3824 million yuan. Net cash flow from operating activities was negative 42.4645 million yuan, compared with 25.8667 million yuan in the same period last year. The company's main businesses cover copyright development and operation, diversified product services, new technology application formats, and cultural space construction and operation.
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China Publishing's 2026 interim net profit falls 88.39% year on year
China Publishing released its 2026 interim report. Total operating revenue was 1.918 billion yuan, down 8.58% year on year. Net profit attributable to the parent company was 15.4307 million yuan, a sharp decline of 88.39% year on year. Net cash flow from operating activities was negative 246 million yuan, a decrease of 117 million yuan from the same period last year. The company's asset-liability ratio was 32.19%, gross margin was 31.08%, return on equity was 0.15%, and diluted earnings per share was 0.01 yuan. The number of shareholders was 46,400, and the top ten shareholders held 80.67% of the total share capital.
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People.cn 2026 Interim Report Net Profit of 21.2386 Million Yuan, Turning Loss into Profit Year-on-Year
People.cn released its 2026 interim report. The company's total operating revenue was 732 million yuan, up 1.42% year-on-year. Net profit attributable to the parent company was 21.2386 million yuan, an increase of 26.3994 million yuan compared with the same period last year, achieving a turnaround from loss to profit. Net cash flow from operating activities was negative 90.5532 million yuan. The asset-liability ratio was 27.51%, gross margin was 39.30%, return on equity was 0.57%, and diluted earnings per share was 0.02 yuan. The company had 114,200 shareholders, and the top ten shareholders held 62.06% of total share capital.
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City Media's 2026 interim report shows net loss of 22.51 million yuan, swinging from profit to loss year-on-year
City Media released its 2026 interim report. Total operating revenue was 1 billion yuan, down 9.60% year-on-year. Net profit attributable to the parent company was negative 22.51 million yuan, swinging from profit to loss year-on-year, a decline of 155.88%. Net cash flow from operating activities was negative 42.46 million yuan, down 19.17% year-on-year. The company's asset-liability ratio was 25.33%, gross margin was 26.13%, ROE was negative 0.83%, and diluted earnings per share was negative 0.03 yuan. The number of shareholders was 29,500, and the top ten shareholders held 66.56% of shares.
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China Publishing Group's first-half net profit falls 88.39% year on year
China Publishing Group disclosed its 2026 semi-annual report on August 29. In the first half, it achieved total operating revenue of 1.918 billion yuan, down 8.58% year on year. Net profit attributable to the parent company was 15.4307 million yuan, down 88.39% year on year. Net profit after deducting non-recurring items was a loss of 59.6122 million yuan, compared with a profit of 68.9617 million yuan in the same period last year. Net cash flow from operating activities was negative 246 million yuan, compared with negative 250 million yuan in the same period last year. During the reporting period, the company's basic earnings per share were 0.0081 yuan, and the weighted average return on equity was 0.15%. Total non-recurring gains and losses were 75.0429 million yuan, of which government subsidies recognised in current profit or loss were 38.56 million yuan. As of the end of the first half of 2026, the company's inventory book value was 2.319 billion yuan, accounting for 23.04% of net assets, an increase of 88.7799 million yuan from the end of the previous year.
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Time Publishing's 2026 interim net profit was 202 million yuan, down 3.37% year on year
Time Publishing released its 2026 interim report. Total operating revenue was 2.918 billion yuan, down 21.52% year on year. Net profit attributable to the parent company was 202 million yuan, down 3.37% year on year. Net cash flow from operating activities was negative 174 million yuan, a year-on-year decrease of 21.2194 million yuan. The company's asset-liability ratio was 30.70%, gross margin was 11.80%, marking a second consecutive year of increase, and return on equity was 3.37%. Diluted earnings per share were 0.30 yuan, down 3.38% year on year. Total asset turnover was 0.34 times, and inventory turnover was 3.24 times. The number of shareholders was 17,400, and the top ten shareholders held 70.03% of total share capital.
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B-Ray Media's 2026 interim report shows net loss of 55.7474 million yuan
B-Ray Media released its 2026 interim report. Total operating revenue was 262 million yuan, up 21.20% year on year, marking a third consecutive year of growth. However, net profit attributable to the parent company was a loss of 55.7474 million yuan, swinging from profit to loss year on year, a decline of 818.19%. Net cash flow from operating activities was a negative 74.9017 million yuan, an improvement of 80.5701 million yuan compared with the same period last year. The company's asset-liability ratio was 20.46%, gross margin was 23.73%, return on equity was negative 1.90%, and diluted earnings per share was negative 0.05 yuan. The number of shareholders was 55,200, and the top ten shareholders held 41.64% of the total share capital.
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Xinhua Winshare's 2026 interim net profit was 654 million yuan, down 23.59% year on year
Xinhua Winshare released its 2026 interim report. Total operating revenue was 5.007 billion yuan, down 9.42% from the same period last year. Net profit attributable to the parent company was 654 million yuan, down 23.59% year on year. Net cash inflow from operating activities was 317 million yuan, down 23.59% year on year. The company's asset-liability ratio was 33.35%, gross margin was 36.17%, return on equity was 4.27%, and diluted earnings per share was 0.53 yuan. The number of shareholders was 18,000, and the top ten shareholders held 97.76% of the total share capital.
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Reader Media's 2026 interim net profit was 32.3518 million yuan, down 16.20% year-on-year
Reader Media released its 2026 interim report. Total operating revenue was 337 million yuan, down 18.75% from the same period last year. Net profit attributable to the parent company was 32.3518 million yuan, down 16.20% year-on-year. Net cash inflow from operating activities was 31.1719 million yuan, up 88.84% year-on-year. The company's asset-liability ratio was 20.26%, gross margin was 29.62%, ROE was 1.54%, and diluted earnings per share was 0.06 yuan. The number of shareholders was 26,000, and the top ten shareholders held 62.88% of the shares.
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Publishing & Media's 2026 interim net profit was 32.2041 million yuan, down 25.83% year-on-year
Publishing & Media released its 2026 interim report. The company's total operating revenue was 785 million yuan, down 20.94% from the same period last year. Net profit attributable to the parent company was 32.2041 million yuan, down 25.83% year-on-year. Net cash flow from operating activities was negative 135 million yuan, a decrease of 55.455 million yuan compared with the same period last year. The company's asset-liability ratio was 33.17%, and its gross margin was 27.53%, rising for three consecutive quarters. ROE was 1.20%. Diluted earnings per share were 0.06 yuan, down 25.00% year-on-year. Total asset turnover was 0.19 times, and inventory turnover was 0.96 times. The number of shareholders was 21,700, and the top ten shareholders held 72.43% of the total share capital.
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Phoenix Publishing & Media's 2026 interim net profit falls 31.12%
Phoenix Publishing & Media released its 2026 interim report, with total operating revenue of 6.1 billion yuan, down 14.24% year on year; net profit attributable to the parent company was 1.092 billion yuan, down 31.12% year on year. Net cash inflow from operating activities was 609 million yuan, up 203.93% year on year. The company's asset-liability ratio was 34.29%, gross margin was 37.31%, ROE was 5.46%, and diluted earnings per share was 0.43 yuan. The number of shareholders was 42,800, and the shareholding ratio of the top ten shareholders was 79.62%.
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Rongxin Culture's 2026 interim net profit was negative 16.31 million yuan, swinging from profit to loss
Rongxin Culture released its 2026 interim report. Total operating revenue was 218 million yuan, and net profit attributable to the parent company was negative 16.31 million yuan, swinging from profit to loss, a decrease of 18.48 million yuan compared with the same period last year, down 852.37 percent year on year. Net cash flow from operating activities was negative 69.06 million yuan, a decrease of 48.73 million yuan compared with the same period last year. The company's latest asset-liability ratio was 14.89 percent, gross margin was 47.48 percent, return on equity was negative 2.02 percent, and diluted earnings per share was negative 0.20 yuan. The number of shareholders was 12,500, and the top ten shareholders held 41.30 percent of total share capital.
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Xinhua Winshare first-half 2026 net profit 654 million yuan, plans 1.7 yuan dividend per 10 shares
Xinhua Winshare disclosed its 2026 interim report on August 27. In the first half, total operating revenue reached 5.007 billion yuan, down 9.42 percent year on year. Net profit attributable to the parent company was 654 million yuan, down 23.59 percent. Non-GAAP net profit was 628 million yuan, down 25.85 percent. The company plans to distribute a cash dividend of 1.7 yuan per 10 shares, tax included. During the reporting period, net cash flow from operating activities was 317 million yuan, down 48.97 percent year on year. As of the end of the first half, the company's inventory book value was 2.358 billion yuan, accounting for 15.4 percent of net assets.
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Chinese Media's 2026 interim net profit was 289 million yuan, down 0.70% year-on-year
Chinese Media released its 2026 interim report. Total operating revenue was 3.09 billion yuan, down 12.39% from the same period last year. Net profit attributable to the parent company was 289 million yuan, down 0.70% year-on-year. Net cash flow from operating activities was negative 540 million yuan, an increase of 261 million yuan compared with the same period last year. The company's asset-liability ratio was 37.38%, gross margin was 32.50%, return on equity was 1.62%, and diluted earnings per share was 0.21 yuan. The number of shareholders was 47,500, and the top ten shareholders held 65.57% of the total share capital.
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Changjiang Media's 2026 interim net profit was 483 million yuan, down 29.49% year on year
Changjiang Media released its 2026 interim report, with total operating revenue of 2.957 billion yuan, down 16.65% year on year, and net profit attributable to the parent company of 483 million yuan, down 29.49% year on year. Net cash inflow from operating activities was 190 million yuan, up 52.78% year on year, marking a second consecutive year of growth. The company's asset-liability ratio was 27.12%, gross margin was 34.91%, return on equity was 4.84%, and diluted earnings per share was 0.40 yuan. The number of shareholders was 25,600, and the top ten shareholders held 68.61% of the total share capital.
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Rongxin Culture's H1 revenue up 20.81%, AI business becomes new engine
Rongxin Culture disclosed its semi-annual report on August 27, achieving operating revenue of 218 million yuan in the first half, up 20.81% year on year, with growth significantly faster than the same period last year. The company is at a key stage of strategic transformation from traditional children's book planning to content plus IP plus AI applications, with AI drama and comic drama business becoming the core incremental engine. In February 2026, the company took control of Yuhe Culture, officially entering the AI drama and comic drama track. During the reporting period, Yuhe Culture achieved revenue of 30.7416 million yuan with a gross margin of 81.20%, significantly higher than the 42.57% of the traditional book planning and distribution business. The children's book main business remains at the forefront of its niche market. According to OpenBook, the company ranks second in children's popular science with a market share of 3.44%, and fourth in early childhood enlightenment with a market share of 6.54%. In addition, the company's controlling subsidiary Zhiqu Technology signed a framework cooperation agreement with Volcano Engine under ByteDance to explore new commercialization models for content assets. During the reporting period, selling expenses rose 59.30% year on year to 91.449 million yuan, while research and development investment increased 84.24%.
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Publishing & Media's H1 net profit attributable to parent falls 25.83% year on year
Publishing & Media disclosed its 2026 semi-annual report on August 26. During the reporting period, the company achieved operating revenue of 785 million yuan, down 20.94% year on year; net profit attributable to shareholders of the listed company was 32.2041 million yuan, down 25.83% year on year; basic earnings per share were 0.06 yuan.
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Longban Media's 2026 interim net profit falls 34.46%
Longban Media released its 2026 interim report, with total operating revenue of 659 million yuan, up 5.62% year on year, but net profit attributable to the parent company was 78.678 million yuan, down 34.46% year on year. Net cash inflow from operating activities was 22.2755 million yuan, marking a second consecutive year of growth. The company's asset-liability ratio was 32.73%, gross margin was 43.82%, and ROE was 2.01%, all showing year-on-year declines. Diluted earnings per share were 0.18 yuan, down 34.47% year on year.
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China Science Publishing & Media reports first-half 2026 net profit of 178 million yuan, down 6.36% year on year
China Science Publishing & Media disclosed its 2026 semi-annual report on August 26. In the first half, total operating revenue reached 1.18 billion yuan, down 5.80% year on year. Net profit attributable to the parent company was 178 million yuan, down 6.36% year on year. Net profit after deducting non-recurring items was 154 million yuan, down 18.19% year on year. Net cash flow from operating activities was negative 54.9506 million yuan, compared with 10.5439 million yuan in the same period last year. Basic earnings per share were 0.22 yuan, and the weighted average return on equity was 3.09%, down 0.25 percentage points year on year. As of the end of the first half, the company's trading financial assets increased by 242.28% compared with the end of last year, monetary funds decreased by 47.79%, and the book value of inventory was 484 million yuan, accounting for 8.29% of net assets.
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Rongxin Culture 2026 Interim Report: Revenue Grows but Swings to Loss; High-Margin AI Comics Fail to Offset Cost Pressures
Rongxin Culture released its 2026 interim report on August 26. The company relies on its core business of children's book planning and distribution, while entering the new AI drama and comic drama track through acquisitions. Revenue grew during the reporting period but the company fell into a loss, with operating cash flow under pressure. Financial data shows that the company achieved operating revenue of 218 million yuan, up 20.81 percent year on year. Net profit attributable to the parent company was negative 16 million yuan, swinging from profit to loss year on year. Net profit after deducting non-recurring items was negative 18 million yuan, down 9,352.00 percent year on year. Net cash flow from operating activities was negative 69 million yuan, with the net outflow expanding 239.74 percent compared with the same period last year. In terms of business structure, the core children's book planning and distribution business achieved revenue of 144 million yuan, down 19.51 percent year on year, with a gross margin of 42.57 percent. Original book sales revenue was 42 million yuan, with a gross margin of 39.27 percent. The newly consolidated AI drama and comic drama business, through the controlling subsidiary Yuhe Culture, achieved revenue of 31 million yuan from March to June, with a gross margin as high as 81.20 percent. However, despite the high gross margin of the new business, the company posted a large overall loss, mainly due to a surge in period expenses and asset impairments. Selling expenses reached 91 million yuan, up 59.30 percent year on year, mainly due to increased promotion expenses for the AI comic drama and original book businesses. At the same time, asset impairment losses including inventory write-downs and prepaid royalty impairments reached 14 million yuan, and investment income decreased by 37 million yuan year on year, also weighing on net profit. The children's book market currently shows a slight decline in total list price value, but content e-commerce channels maintain high growth. The AI drama and comic drama industry is in a period of rapid growth, with the market size expected to reach 40 billion yuan. The company is trying to capture industry dividends through the acquisition of Yuhe Culture and its layout in AI smart hardware, but new business integration, high marketing investment, and the decline of the traditional book business constitute the main risks.
Publishing▼
China Science Publishing & Media reports first-half 2026 net profit of 178 million yuan, down 6.36% year on year
China Science Publishing & Media released its 2026 interim report. Total operating revenue was 1.18 billion yuan, down 5.80% year on year. Net profit attributable to the parent company was 178 million yuan, down 6.36% year on year. Net cash flow from operating activities was negative 54.9506 million yuan, down 621.16% year on year. The company's asset-liability ratio was 22.87%, gross margin was 30.97%, return on equity was 3.04%, and diluted earnings per share was 0.22 yuan. The number of shareholders was 28,300, and the top ten shareholders held 84.98% of total share capital.
Publishing▼
Longban Media first-half 2026 net profit was 78.678 million yuan, down 34.46% year on year
Longban Media disclosed its 2026 semi-annual report on August 26. In the first half, it achieved total operating revenue of 659 million yuan, up 5.62% year on year. Net profit attributable to the parent company was 78.678 million yuan, down 34.46% year on year. Net profit after deducting non-recurring items was 67.5499 million yuan, up 0.28% year on year. Net cash flow from operating activities was 22.2755 million yuan, compared with negative 21.3145 million yuan in the same period last year. Basic earnings per share were 0.177 yuan, and the weighted average return on equity was 2.00%. The company is mainly engaged in the publishing, distribution and printing of books, periodicals and electronic publications.