Beijing Gehua CATV Network 歌华有线
3 significant filings since 30 May 2026: 1 on earnings pre-announcement, 1 on dividend and 1 on management change. The latest, on 16 Sep 2026: 歌华有线关于公司高级管理人员辞任的公告.
自 30 May 2026 起有 3 份重大公告：earnings pre-announcement 1 份、dividend 1 份、management change 1 份。最新一份（16 Sep 2026）：歌华有线关于公司高级管理人员辞任的公告。
As of 25 Sep 2026 截至2026年9月25日
Beijing Gehua CATV Network 歌华有线, listed in 2001, operates in the television and radio industry. The company reported a turnaround in attributable net profit, from a loss of -RMB69.5m in 2024 to a profit of RMB34.3m in 2025, with revenue declining slightly to RMB2.22bn. Gross margin was 6.1% and net margin 1.5%, with ROE at 0.3%. Operating cash flow per share was RMB0.13 in 2025, significantly below the prior year's RMB0.77, though cash flow to net profit was strong at 5.09x. As of 30 Jun 2026, the company had a healthy balance sheet with liabilities to assets at 17.8% and a current ratio of 4.38. The first half of 2026 showed strong growth, with revenue up 44.5% and net profit turning to RMB213.4m. The controlling shareholder is 中国广电网络股份有限公司, with the State Council as actual controller. Segment revenue, order book, litigation case amounts, receivable ageing and auditor's opinion are not shown.
歌华有线于2001年上市，属于电视广播行业。公司2025年归属于母公司股东的净利润扭亏为盈，从2024年的-6,952.1万元转为3,431.3万元，营业收入微降至22.20亿元。2025年毛利率为6.1%，净利率1.5%，净资产收益率0.3%。每股经营现金流2025年为0.13元，较2024年的0.77元大幅下降，但经营现金流与净利润之比达5.09倍。截至2026年6月30日，资产负债率为17.8%，流动比率4.38，财务结构稳健。2026年上半年营业收入13.48亿元，同比上升44.5%，归母净利润达2.13亿元，实现扭亏。控股股东为中国广电网络股份有限公司，实际控制人为中华人民共和国国务院。分部收入、在手订单、诉讼案件金额、应收账款账龄及审计意见未列示。
- Attributable net profit for the full year 2026
2026全年归属于母公司股东的净利润 - Operating cash flow per share in 2026
2026年每股经营现金流 - Revenue growth in the second half of 2026 compared to the first half
2026年下半年营业收入相较于上半年的增长情况 - Liabilities to assets ratio at year-end 2026
2026年末资产负债率 - Any change in the shareholding of the controlling shareholder
控股股东持股比例的变动情况 - Next distribution announcement
下一次分红公告
- Company: Beijing Gehua CATV Network 歌华有线, Shanghai Stock Exchange 600037; industry Television and Radio; listed 8 Feb 2001.
公司：歌华有线，上海证券交易所 600037；行业：电视广播；上市日期：2001年2月8日。 - Close on 24 Sep 2026 RMB7.07; close on 24 Sep 2025 RMB8.12, RMB8.06 in today's terms; one-year change, adjusted for distributions and share changes -12.3%.
2026年9月24日收盘价7.07元；2025年9月24日收盘价8.12元（前复权8.06元）；一年涨跌幅（复权）-12.3%。 - 52-week range in today's terms, adjusted for distributions and share changes RMB6.18 to RMB8.48.
52周区间（前复权）6.18元至8.48元。 - Market capitalisation RMB9.84bn; P/E TTM 38.2; price to book 0.77x.
总市值98.40亿元；市盈率（TTM）38.2；市净率0.77倍。 - Revenue 2025 RMB2.22bn; 2024 RMB2.31bn; change -4.1%.
营业收入2025年22.20亿元；2024年23.14亿元；同比-4.1%。 - Attributable net profit 2025 RMB34.3m; 2024 -RMB69.5m; change +149.4% (from a loss to a profit).
归属于母公司股东的净利润2025年3,431.3万元；2024年-6,952.1万元；同比+149.4%（扭亏为盈）。 - Net profit excluding non-recurring items, 2025 change +31.2%.
2025年扣除非经常性损益后的净利润同比+31.2%。 - Basic EPS 2025 RMB0.02; 2024 -RMB0.05.
基本每股收益2025年0.02元；2024年-0.05元。 - Operating cash flow per share 2025 RMB0.13; 2024 RMB0.77; operating cash flow to net profit 5.09x.
每股经营现金流2025年0.13元；2024年0.77元；经营现金流与净利润之比5.09倍。 - 2025 gross margin 6.1%; net margin 1.5%; ROE 0.3%.
2025年毛利率6.1%；净利率1.5%；净资产收益率0.3%。 - At 30 Jun 2026: liabilities to assets 17.8%; current ratio 4.38; quick ratio 4.30; receivable days 95; inventory days 34.
截至2026年6月30日：资产负债率17.8%；流动比率4.38；速动比率4.30；应收账款周转天数95；存货周转天数34。 - Period to 30 Jun 2026 (six months, not comparable with the full years above): revenue RMB1.35bn, change +44.5%; attributable net profit RMB213.4m, change +2,301.6% (from a loss to a profit); operating cash flow per share RMB0.07.
截至2026年6月30日的报告期（六个月，不可与上述全年数据直接比较）：营业收入13.48亿元，同比+44.5%；归母净利润2.13亿元，同比+2,301.6%（扭亏为盈）；每股经营现金流0.07元。 - Ownership: controlling shareholder 中国广电网络股份有限公司; actual controller 中华人民共和国国务院; largest holder at 30 Jun 2026: 中国广电网络股份有限公司, 19.09%.
股权：控股股东：中国广电网络股份有限公司；实际控制人：中华人民共和国国务院；2026年6月30日第一大股东：中国广电网络股份有限公司，持股19.09%。 - Latest distribution: ex-date 18 Jun 2026, cash RMB0.05 per share.
最近一次分配：除权除息日2026年6月18日，每股现金0.05元。 - Aurelian Grade B, score 76.0 of 100, graded within a peer group of 13 companies in its industry; no rank among peers is given.
金源评级B，得分76.0（满分100），于行业同业13家中评定；未提供其在同业中的排名。 - Not held for this report: receivable ageing, litigation case amounts, the order book, the auditor's opinion and key audit matters, segment revenue.
本报告未掌握：应收账款账龄、诉讼案件金额、在手订单、审计意见及关键审计事项、分部收入。