JiShi Media Co., Ltd. (601929.SS) Bundle
Curious about JiShi Media's financial pulse? This deep-dive unpacks headline figures: trailing twelve-month revenue of 2.02 billion CNY (up 7.54% YoY) alongside Q3 2025 revenue of 472.24 million CNY (down 7.27% YoY) and H1 2025 revenue of 997 million CNY (up 8.7% YoY); yet the firm posted a net loss of 465 million CNY with EPS at -0.13 CNY, gross margin at 14.73% and EBITDA of 383.93 million CNY while net profit margin sits at -24.77% and ROE at -9.68%; balance-sheet pressures are stark - total debt of 5.41 billion CNY dwarfs cash of 202.9 million CNY (net debt ~5.21 billion CNY), current ratio ~0.38 and quick ratio 0.25, interest coverage -1.91 and net cash per share -1.51 CNY - yet the market values the company at a 12.45 billion CNY market cap with a P/S of 7.18, EV of 17.69 billion CNY and a one-year market-cap gain of 87.70%, while operational metrics like revenue per employee (351,731 CNY across 5,756 staff) and a beta of 0.55 signal efficiency and relative stability; dive into the full analysis to parse valuation, liquidity, leverage and the growth opportunities tied to IPTV, broadband services and group customer contracts - and see which risks and catalysts matter most for investors
JiShi Media Co., Ltd. (601929.SS) - Revenue Analysis
JiShi Media reported total trailing twelve-month revenue of 2.02 billion CNY for the period ending September 30, 2025, representing a 7.54% increase year-over-year. Quarterly performance showed softness in Q3 2025 with revenue of 472.24 million CNY, down 7.27% versus Q3 2024, while H1 2025 revenue reached 997 million CNY, up 8.7% year-over-year. Revenue per employee is 351,731 CNY based on a workforce of 5,756, and the market values the company at roughly 12.45 billion CNY, implying a price-to-sales (P/S) ratio of 7.18.- Total TTM revenue: 2.02 billion CNY (TTM ending Sep 30, 2025)
- Q3 2025 revenue: 472.24 million CNY (-7.27% YoY)
- H1 2025 revenue: 997 million CNY (+8.7% YoY)
- Revenue per employee: 351,731 CNY (5,756 employees)
- Market capitalization: ~12.45 billion CNY; P/S: 7.18
| Metric | Value | Period / Notes |
|---|---|---|
| Total Revenue (TTM) | 2.02 billion CNY | Trailing 12 months ending 2025-09-30 |
| Q3 Revenue | 472.24 million CNY | Q3 2025 (-7.27% YoY) |
| H1 Revenue | 997 million CNY | First half 2025 (+8.7% YoY) |
| Employees | 5,756 | Company-reported headcount |
| Revenue per Employee | 351,731 CNY | TTM revenue / employees |
| Market Capitalization | ≈12.45 billion CNY | Market valuation |
| Price-to-Sales (P/S) | 7.18 | Market cap / TTM revenue |
JiShi Media Co., Ltd. (601929.SS) - Profitability Metrics
JiShi Media's latest reported results show clear strains on profitability despite some operational-scale metrics. The company reported a net loss and several negative return ratios, while EBITDA provides a view of core operating performance.- Net loss: 465 million CNY (period)
- EPS: -0.13 CNY
- Gross margin: 14.73%
- EBITDA: 383.93 million CNY
- EBITDA margin: 18.96%
- Operating margin (ttm): -11.61%
- Net profit margin: -24.77%
- ROE: -9.68%
- ROA: -1.65%
| Metric | Value | Interpretation |
|---|---|---|
| Net Profit / (Loss) | -465,000,000 CNY | Substantial bottom-line loss for the period |
| EPS | -0.13 CNY | Negative earnings per share |
| Gross Margin | 14.73% | Thin margin on revenue after COGS |
| EBITDA | 383,930,000 CNY | Positive cash-operating profit before non-cash and financing items |
| EBITDA Margin | 18.96% | Healthy operational cash profitability relative to revenues |
| Operating Margin (ttm) | -11.61% | Operating expenses exceed gross profit on a trailing basis |
| Net Profit Margin | -24.77% | Large portion of revenue lost after all expenses |
| ROE | -9.68% | Shareholder equity generating negative returns |
| ROA | -1.65% | Assets are not producing positive net returns |
- Implication: Positive EBITDA (383.93M CNY) and an EBITDA margin near 19% suggest JiShi Media has operating cash-generation potential, but negative operating, net margins and returns (ROE, ROA) show that non-operating costs, interest, taxes, depreciation/amortization timing, or extraordinary items have driven the company into a net loss.
- Investors should weigh the gap between EBITDA strength and negative net metrics when assessing recovery prospects, capital structure, and cost controls.
JiShi Media Co., Ltd. (601929.SS) Debt vs. Equity Structure
JiShi Media's balance-sheet profile shows pronounced leverage and liquidity stress driven by a large debt load relative to available cash and operating income. Key headline figures capture the immediacy of the funding and solvency pressures.- Total debt: 5.41 billion CNY
- Cash and cash equivalents: 202.9 million CNY
- Net debt: 5.21 billion CNY
- Debt-to-equity ratio: 1.07
- Current ratio: 0.395
- Quick ratio: 0.25
- Interest coverage ratio: -1.91
- Net cash per share: -1.51 CNY
| Metric | Value | Interpretation |
|---|---|---|
| Total debt | 5,410,000,000 CNY | Large nominal leverage burden |
| Cash & equivalents | 202,900,000 CNY | Limited immediate liquidity buffer |
| Net debt | 5,207,100,000 CNY | Debt significantly exceeds cash |
| Debt-to-equity | 1.07 | Debt slightly exceeds shareholders' equity |
| Current ratio | 0.395 | Short-term liabilities far exceed short-term assets |
| Quick ratio | 0.25 | Very weak short-term liquidity excluding inventory |
| Interest coverage | -1.91 | Operating income insufficient to cover interest |
| Net cash per share | -1.51 CNY | Negative cash position on a per-share basis |
- Liquidity risk: Current and quick ratios well below 1 indicate potential difficulty meeting near-term obligations without asset sales, new financing, or operational cash improvement.
- Solvency risk: Debt-to-equity >1 and net debt >5.2 billion CNY point to a capital structure heavily weighted to creditors.
- Coverage risk: Negative interest coverage (-1.91) signals reliance on non-operating items, asset disposals, or external financing to service interest.
JiShi Media Co., Ltd. (601929.SS) - Liquidity and Solvency
JiShi Media's most recent liquidity and solvency indicators point to material short-term stress and a weakened cash position. Operating cash flow per share fell to -0.01 CNY, a year-over-year decline of 114.63%, signaling negative cash flow from operations. Cash and cash equivalents declined by 42.17%, primarily driven by loan repayments, while accounts receivable rose 35.83% to 592 million CNY, which may further constrain near-term cash conversion. Net cash per share is -1.51 CNY, confirming a negative cash position on a per-share basis.- Operating cash flow per share: -0.01 CNY (YoY -114.63%)
- Cash & cash equivalents: down 42.17% (impact from loan repayments)
- Accounts receivable: 592 million CNY (up 35.83% YoY)
- Current ratio: 0.38 (elevated short-term liquidity pressure)
- Quick ratio: 0.25 (limited immediate liquidity excluding inventories)
- Net cash per share: -1.51 CNY
| Metric | Value | Change / Note |
|---|---|---|
| Operating cash flow per share | -0.01 CNY | -114.63% YoY |
| Cash & cash equivalents | ↓ 42.17% | Reduced by loan repayments |
| Accounts receivable | 592 million CNY | +35.83% YoY |
| Current ratio | 0.38 | Short-term liabilities exceed current assets |
| Quick ratio | 0.25 | Low immediate liquidity excluding inventories |
| Net cash per share | -1.51 CNY | Negative cash position per share |
JiShi Media Co., Ltd. (601929.SS) Valuation Analysis
JiShi Media's market valuation reflects a premium relative to revenue, book value and operating cash flows, with enterprise-level metrics showing the total cost to acquire the business including debt.- Market capitalization: 12.45 billion CNY
- Enterprise value (EV): 17.69 billion CNY
- Price-to-Sales (P/S): 7.18
- Price-to-Book (P/B): 2.47
- Price-to-Tangible Book Value (P/TBV): 2.64
- Price-to-Operating Cash Flow (P/OCF): 42.09
| Metric | Value | Interpretation |
|---|---|---|
| Market Capitalization | 12.45 billion CNY | Base equity market value |
| Enterprise Value (EV) | 17.69 billion CNY | Equity + net debt (total takeover cost) |
| P/S Ratio | 7.18 | Market pays ~7.2x annual revenue |
| P/B Ratio | 2.47 | Market values equity at ~2.5x book value |
| P/TBV Ratio | 2.64 | Premium to tangible net assets |
| P/OCF Ratio | 42.09 | High multiple on operating cash flow |
- High P/S and P/OCF suggest market expectations for revenue growth, margin expansion or intangible value not captured on the balance sheet.
- EV/MktCap spread (~5.24 billion CNY) indicates net debt or other adjustments that increase acquisition cost beyond equity value.
- P/B and P/TBV above 2x imply investors pay materially above book and tangible book-consider asset light/intangible-driven business characteristics.
JiShi Media Co., Ltd. (601929.SS) - Risk Factors
JiShi Media reported a net loss of 465 million CNY for the period, delivering a negative EPS of -0.13 CNY and signaling significant operational strain. The company's balance sheet and cash-flow profile present multiple areas of investor concern, particularly liquidity, leverage, and cash generation.- Net loss: -465 million CNY; EPS: -0.13 CNY (period reported).
- Total debt: 5.41 billion CNY versus cash reserves: 202.9 million CNY - a large debt-to-cash imbalance.
- Operating cash flow per share: -0.01 CNY, declining 114.63% year-over-year, indicating negative operating cash generation.
- Current ratio: 0.38 - below the 1.0 benchmark, suggesting potential short-term liquidity stress.
- Quick ratio: 0.25 - limited ability to cover immediate liabilities without inventory.
- Net cash per share: -1.51 CNY - a negative cash position on a per-share basis.
| Metric | Value | Implication |
|---|---|---|
| Net Loss | 465 million CNY | Ongoing operating deficits |
| EPS | -0.13 CNY | Negative return to shareholders this period |
| Total Debt | 5.41 billion CNY | High leverage burden |
| Cash Reserves | 202.9 million CNY | Limited liquidity buffer |
| Operating Cash Flow / Share | -0.01 CNY | Negative operating cash conversion |
| Current Ratio | 0.38 | Short-term liquidity risk |
| Quick Ratio | 0.25 | Insufficient immediate liquidity |
| Net Cash / Share | -1.51 CNY | Negative per-share cash position |
JiShi Media Co., Ltd. (601929.SS) - Growth Opportunities
JiShi Media is positioned to capture multi-dimensional growth driven by enterprise contracts, integrated multimedia services, and infrastructure projects. Recent market performance and business mix point to both near-term revenue upside and longer-term stability.- Group customer business: management guidance and industry signals indicate material uplift in contract orders as enterprises pursue information, digitalization, and intelligence upgrades - estimated revenue acceleration of 15-30% year-over-year for this segment in the near term.
- IPTV and cable convergence: integrated operations with cable TV are expected to produce modest IPTV revenue growth (projected 3-8% annually) through cross-selling, bundled subscriptions, and shared distribution costs.
- Network design and installation: ongoing telecom and municipal infrastructure projects create repeated demand for design, installation, and circuit operation services, supporting steady backlog replenishment.
- Diversified consumer & B2B services: broadband two-way interactive services, online trading platforms, TV lottery systems, and family entertainment solutions broaden monetization channels and reduce single-segment exposure.
- Market and risk profile: market capitalization has risen by 87.70% over the past year, while a beta of 0.55 signals lower volatility versus the broader market - attractive for more risk-averse investors.
| Metric | Value / Estimate | Notes |
|---|---|---|
| 1-year Market Cap Change | +87.70% | Reflects investor re-rating and improved sentiment |
| Beta | 0.55 | Lower volatility vs. market; defensive characteristic |
| Group Customer Business Growth (near-term) | 15-30% YoY (segment estimate) | Driven by contracts for digitalization/intelligence |
| IPTV Revenue Growth (projected) | 3-8% annually | Synergies from integrated cable/IPTV operations |
| Broadband & Interactive Services | Material contributor to ARPU uplift | Includes two-way services, family entertainment |
| Infrastructure/Network Contracts | Recurring project pipeline | Design, installation, operation of comms networks |
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