Chinese Universe Media revenue falls 14.56% to 9.3bn yuan

Chinese Universe Publishing And Media Group reported 2024 operating revenue declined 14.56% to 9.304 billion yuan, with non-IFRS net profit falling 56.19% due to changes in textbook ordering methods and income tax policy.

Accounts receivable surged 67.42% primarily from acquiring Beijing Langzhi Network Media, while construction in progress jumped 131.68% to 217 million yuan. Gross profit margin was 39.59%, above industry average but down from the prior period.