South­ern Pub­lish­ing China surges in trad­ing de­but

The Pak Banker - - COMPANIES/BOSS -

BEI­JING: hares in South­ern Pub­lish­ing and Me­dia Co Ltd rose by the 10 per­cent daily ceil­ing on their first day of trad­ing on the Shang­hai Stock Ex­change on Mon­day, demon­strat­ing strong prospect for the main­land's cul­ture and me­dia in­dus­try. The stock opened at 7.36 yuan($1.12) and quickly rose to its ceil­ing of 8.83 yuan as mar­kets re­opened af­ter the Lu­nar New Year. Wang Guike, chair­man of the Guangzhoubased com­pany, said he was con­fi­dent of grow­ing prof­its in com­ing years. "Pub­lish­ing will con­tinue to be our main­stay, while print­ing is ex­pected to see steady growth," Wang told a news con­fer­ence in Shang­hai.

"We plan to in­vest more than 1 bil­lion yuan on five ma­jor pub­lish­ing projects, in­clud­ing in dig­i­tal education, and in the upgrade of Xin­hua book­stores, all of which have rosy fu­tures," he said. There are also plans to ex­plore the Hong Kong, Ma­cao and South­east Asian mar­kets in the near fu­ture for the first time, Wang said, as well as in­creas­ing its cul­tural prod­ucts and ser­vices ac­tiv­i­ties in Euro­pean and Amer­i­can mar­kets. Es­tab­lished in De­cem­ber 2009, South­ern Pub­lish­ing's an­nual prof­its grew by an av­er­age 39.9 per­cent be­tween 2010 and 2015.Its sales topped 1 bil­lion yuan last year. Zhang Zhi'an, dean of the School of Com­mu­ni­ca­tion and De­sign at Sun Yat-sen Univer­sity in Guang­dong prov­ince, said the com­pany's fi­nan­cial per­for­mance sug­gests in­vestors be­lieved the pub­lish­ing and me­dia sec­tor is on a strong foot­ing, as many firms con­tinue to gain from govern­ment sup­port and pref­er­en­tial poli­cies. "The good per­for­mance of South­ern Pub­lish­ing on its first trad­ing day is a good demon­stra­tion of the strength of other pub­lish­ing and me­dia com­pa­nies in the sec­tor ap­ply­ing to go pub­lic in the near fu­ture," Zhang said. Cai Ling, a re­searcher at mar­ket re­search firm CI Con­sult­ing, said af­ter South­ern Pub­lish­ing's list­ing, its op­er­a­tion will be­come a lot more mar­ket-ori­ented.

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