Chinese Media(600373)2025-01-22 12:00Financial Performance Forecast - The company expects a net profit attributable to shareholders of between 700 million and 800 million yuan for 2024, a decrease of 1.41 billion to 1.51 billion yuan compared to the previous year, representing a year-on-year decline of 63.80% to 68.33%[2] - The expected net profit attributable to shareholders after deducting non-recurring gains and losses is projected to be between 750 million and 900 million yuan, down by 917 million to 1.067 billion yuan year-on-year, reflecting a decline of 50.47% to 58.72%[2] - A one-time adjustment related to deferred tax assets/liabilities will reduce the net profit attributable to shareholders by approximately 333 million yuan in 2024[8] Previous Year Financials - The company reported a net profit of 1.967 billion yuan for the previous year, which was restated to 2.210 billion yuan after accounting adjustments[5] - The company achieved earnings per share of 1.45 yuan in the previous year[5] - The financial data for 2023 has been restated due to acquisitions, affecting the reported net profit figures[5] Tax and Regulatory Impact - The company will benefit from a tax exemption policy for cultural enterprises from 2024 to 2027, which is expected to positively impact net profit attributable to shareholders[6] Revenue Expectations - Changes in the subscription method for educational auxiliary books in Jiangxi Province are expected to lead to a decline in revenue from these materials in the second half of 2024[8] Earnings Forecast Reliability - The company’s earnings forecast has not been audited, but preliminary discussions with auditors indicate no discrepancies[3] - There are no significant uncertainties affecting the accuracy of the earnings forecast as of the announcement date[9]