Changjiang Publishing & Media reports strong Q3 profit growth despite revenue dip

Changjiang Publishing & Media (SSE:600757) reported a substantial increase in net profit attributable to shareholders, rising by 24.67% to 859,205,521.51 yuan for the first nine months of 2025, compared to the same period last year. Third-quarter net profit also saw a robust 10.59% increase year-over-year. Despite this, total operating revenue decreased by 3.01% to 5,061,534,024.96 yuan for the nine-month period.

Operational data revealed a 2% decline in publishing business sales and a 3% decrease in revenue. The distribution business experienced a 3% increase in sales but a 3% decrease in revenue. Meanwhile, the materials sales business saw a 14% decline in sales and a 15% decrease in revenue, with gross profit margins for publishing improving by 1.1 percentage points while distribution and materials sales experienced slight declines.

Total assets grew by 5.00% to 14,494,109,370.32 yuan, and owners' equity attributable to shareholders increased by 3.81% to 9,890,722,533.88 yuan as of September 30, 2025. Significant changes in financial indicators include a 74.07% rise in accounts receivable, mainly due to uncollected textbook and teaching aid funds, and a 33.03% decrease in bills receivable due to settlement.