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China Publishing & Media Holdings (601949) Fair Value & Analysis

Communication Services · CN · Market cap 10.1B CNY

CP China Publishing & Media Holdings 601949 · SHG
Price¥5.28
Fair Value¥5.44
Upside+3.0%
Quality58/100
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Weak Growth
Solidly profitable · 11.1% net margin
Low debt · generates free cash flow
1.89% dividend yield
Trails peers (3/14)
Narrow moat 31/100
Evidence: Medium Range ¥4.20 – ¥7.36 Share as image

Fair value as of: Aug 9, 2026

From 24 valuation models · updated yesterday

Fair value updated Aug 9, 2026, revised from ¥5.70 to ¥5.44 (−4.6%) since Jul 11, 2026. Share price +9.1% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from ¥4.20 (bear) to ¥7.36 (bull), base ¥5.44. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 58/100 (solid quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

¥15.97 ¥4.15 Fair Value ¥5.44 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 9, 2026.

How to read this chart

60‑month range ¥4.15 – ¥15.97 · fair‑value band ¥4.20 – ¥7.36 · the ¥5.28 price screens below the ¥5.44 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 9, 2026.

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Analysis

China Publishing & Media Holdings (601949) currently trades at ¥5.28, while our model-based Fair Value estimate is ¥5.44, implying the stock looks roughly 3.0% fairly valued today. The Quality Score stands at 58/100 (solid quality), in the Communication Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, China Publishing & Media Holdings generated revenue of 5.2B CNY at a net margin of 11.1%. Revenue declined 15.5% year over year. It earns a return on equity of 5.3%. The balance sheet holds a net cash position of 1.6B CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥4.20 (bear case) to ¥7.36 (bull case); at ¥5.28, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 35% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 9% fair-value upside, at 3%, 601949 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ¥4.22 ¥5.34 ¥7.41 80
Residual Income ¥4.21 ¥4.38 ¥4.56 76
Rev-Margin DCF ¥3.75 ¥5.08 ¥6.77 74
All 24 models by family
DCF Models
FCF DCF ¥4.09 ¥5.23 ¥7.54 38
Owner Earnings ¥4.38 ¥5.63 ¥8.15 31
5Y Revenue Exit ¥3.75 ¥5.00 ¥6.90 39
5Y EBITDA Exit ¥4.15 ¥5.69 ¥7.81 41
5Y P/E Exit ¥5.05 ¥7.22 ¥9.89 38
10Y Revenue Exit ¥3.77 ¥4.88 ¥6.13 36
10Y EBITDA Exit ¥4.10 ¥5.33 ¥6.72 37
10Y P/E Exit ¥4.65 ¥6.34 ¥8.06 35
Earnings-Based
Graham-Dodd ¥2.31 ¥3.75 ¥4.53 54
EPV ¥2.95 ¥3.31 ¥3.62 59
Dividend Discount
Gordon GGM ¥0.9700 ¥1.17 ¥1.39 70
DDM Multi-Stage ¥0.9700 ¥1.29 ¥1.69 61
Multiples
P/E Multiple ¥5.61 ¥7.48 ¥9.35 63
P/S Multiple ¥4.33 ¥5.78 ¥7.22 58
P/B Multiple ¥4.33 ¥5.78 ¥7.22 55
EV/EBIT ¥4.71 ¥6.01 ¥7.32 53
EV/EBITDA ¥4.73 ¥6.05 ¥7.36 54
EV/Revenue ¥3.77 ¥5.04 ¥6.31 43
Asset-Based
NCAV (Graham) ¥2.64 ¥3.54 ¥5.28 50
Growth DCF
Growth DCF ¥4.22 ¥5.34 ¥7.41 80
Rev-Margin DCF ¥3.75 ¥5.08 ¥6.77 74
Economic Profit
Residual Income ¥4.21 ¥4.38 ¥4.56 76
ROIC Compounder ¥2.95 ¥3.31 ¥3.62 72
Growth Earnings
Growth-Adj P/E ¥3.95 ¥5.65 ¥7.34 68

Widest divergence: Multiples (¥5.78) versus Dividend Discount (¥1.17). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 5.2B CNY
Revenue growth (YoY) -15.5%
Net margin 11.1%
Return on equity 5.3%
Free cash flow 623M CNY FY2025
P/E ratio 17.6
More key figures
Operating margin -18.2%
EPS (TTM) ¥0.3000
Dividend yield 1.9%
EPS growth (YoY) -32.9%
Net cash 1.6B CNY FY2024

Figures from reported company fundamentals · as of Aug 9, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 59 · Market factors (momentum, volatility) 35

Profitability 32
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 58
Earnings quality: real cash, not paper profit
Fin. Strength 81
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 14
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 72
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

China Publishing & Media Holdings Co., Ltd. publishes books, newspapers, periodicals, audio-visual products, and electronic publications in China. It is also involved in the paper publishing, digital publishing, printing and copying, information services, and copyright trading services. China Publishing & Media Holdings Co., Ltd.

Full company description

China Publishing & Media Holdings Co., Ltd. publishes books, newspapers, periodicals, audio-visual products, and electronic publications in China. It is also involved in the paper publishing, digital publishing, printing and copying, information services, and copyright trading services. China Publishing & Media Holdings Co., Ltd. was founded in 2011 and is based in Beijing, China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

China Publishing & Media Holdings reported revenue of ¥5.3B in FY2025 versus ¥6.3B in FY2021, a compound −4.2%/yr. Reported net income was ¥647M in FY2025, compounding −4.6%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
5.3B CNY
Latest YoY
−12.8%
Avg. growth/yr (3Y)
−4.6%
Avg. growth/yr (5Y)
−2.2%
Avg. growth/yr (13Y)
+4.3%
Revenue −4.2%/yr
FY21 ¥6.3B
FY22 ¥6.1B
FY23 ¥6.3B
FY24 ¥6.1B
FY25 ¥5.3B
Net income −4.6%/yr
FY21 ¥781M
FY22 ¥650M
FY23 ¥967M
FY24 ¥644M
FY25 ¥647M

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Cite: Fair Value Calculator (2026). "China Publishing & Media Holdings Fair Value". https://www.fairvalue-calculator.com/stock/601949

Peer Group

Publishing · 110 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 58 · Below median
Fair Value upside +3% · Below median
Return on equity (TTM) 5% · Above median
Return on assets 2% · Below median
Net margin (TTM) 11% · Top 25%
Operating margin (TTM) -18% · Bottom 25%
Revenue growth -16% · Bottom 25%
Dividend yield (TTM) 1.9% · Below median
Debt / equity 0.03× · Higher than median

Valuation Multiples vs Publishing median · lower = cheaper

P/E (TTM) 17.6× · Pricier than median
P/B 1.00× · Pricier than median
P/S (TTM) 1.93× · Pricier than 75% of peers
P/FCF 2.4× · Cheaper than median
EV/EBITDA 15.8× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 37 · sector 39
FUTURE 0 · sector 0
PAST 21 · sector 21
HEALTH 99 · sector 99
DIVIDEND 38 · sector 57

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

Is China Publishing & Media Holdings (601949) overvalued or undervalued?
As of Aug 9, 2026, our model estimates a fair value of ¥5.44 versus a price of ¥5.28, about +3% (fairly valued).
What is the fair value of 601949?
Our model-based fair value for China Publishing & Media Holdings is ¥5.44 (as of Aug 9, 2026), built from audited fundamentals. The current price is ¥5.28.
What is the quality score of 601949?
China Publishing & Media Holdings has a Quality Score of 58/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of China Publishing & Media Holdings (601949)?
China Publishing & Media Holdings reported trailing-twelve-month revenue of about 5.2B CNY (latest available figure, as of Aug 9, 2026).
What is the net profit margin of 601949?
The net profit margin of China Publishing & Media Holdings is about 11.1%, meaning it keeps roughly 11.1% of revenue as net income. Based on the latest reported figures.
Does China Publishing & Media Holdings pay a dividend?
China Publishing & Media Holdings currently shows a dividend yield of about 1.99% relative to its recent price (as of Aug 9, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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