Chuanwang Media released its 2026 half-year report. In the first half, it achieved operating revenue of 125 million yuan, down 7.3% year-on-year, while net profit attributable to the parent company was only 740,000 yuan, a sharp year-on-year decline of 72.9%. In the second quarter, the company's net profit attributable to the parent company was a loss of 1.43 million yuan, down 1,305.9% year-on-year. The company said the profit decline was mainly due to shrinking traditional business scale and an increase in deferred income tax expenses. It is currently in a stage of transitioning from old to new growth drivers, with traditional business market share and profit margins narrowing. In the secondary market, the company's share price has fallen 18.42% cumulatively this year.
Sichuan Newsnet Media (Group) Co.Ltd.First-half net profit fell 72.9% year-on-year with a Q2 loss, driven by shrinking traditional business and higher deferred tax expenses.
