Source: Zhiyan Consulting
In recent years, the price of paper-based books in China has risen rapidly. The price of most books is between 30-50, and some professional books even reach about 100. The rapid increase in the price of paper books has led to the demand for books in China. In the process, there is no longer the habit of buying books by hand. On the contrary, through online discounts, the “6.18†and “Double 11†promotions have become the fixed purchase time for consumers twice.
During the “6.18†and “Double Eleven†discounts, most of the book products were sold at half price or even half price. Whether the books sold at ultra-low prices really affect the operation of the publishing house, from the current main In terms of publishing listed companies, the discount incentives have a relatively small impact on the profits of publishers.
Taking New Classic Culture Co., Ltd. as an example, the new classic was launched in 2017, and in August 2017, it acquired a full-line bookstore PageOne. New Classic Culture Co., Ltd. specializes in various novels and social science books, and publishes many well-known works such as "Ordinary World", "One Hundred Years of Solitude" and the current popular novel "Solutions and Grocery Store".
2018 New Classic Culture Co., Ltd. General Book Distribution Business Statistics
From the gross profit rate of the new classic company, it has remained above 45% in 2018. The gross profit margin of the publishing house's book even exceeds the gross profit margin of most manufacturing companies and the electronic information industry. In the third quarter of 2018, the new classic discount The rate rose from 53.96% in the second quarter to 54.15%, but the company's net profit margin soared from 23.20% to 33.60%. The new classic's profitability is already at the upper-middle level in the domestic A-share market, but among the 17 publishing companies listed on the A-share market, the new classic ranks 13th. At the same time, from the perspective of the new classic general book distribution business, the discount rate in 2018 is maintained at 53%-54%, but the higher gross profit margin reflects the large increase in the price of book publishing yards compared to before.
Statistics on net profit and growth rate of listed companies in China in the first three quarters of 2018
From the performance of listed companies in the first three quarters of 2018, the net profit of four publishing companies has exceeded 1 billion. It is expected that there will be 5 publishing companies with a net profit of more than 1 billion in 2018, and 17 publishing companies. In terms of the scale of net profit, the market competitiveness of private publishing enterprises is obviously weak. The new classics and Century Tianhong's net profit in the third quarter of 2018 totaled 210 million, and the total net profit ranking failed to enter the top ten.
According to the data released by the State Press and Publication Administration, in 2017, the overall size of China's book market is about 180 billion yards. According to the differences between book content and downstream consumer objects, the book market is broadly divided into three categories: mass publishing, education publishing, and academic publishing. In 2017, the mass publishing scale was about 55 billion, the educational publishing scale was about 110 billion, and the academic publishing scale was about 15 billion.
Statistics on the proportion of the book market in 2017
In 2017, the scale of education and publishing business was 110 billion, accounting for 61%. Due to the large population base of students in China, education publishing is the sub-industry with the most development space in the field of book market segmentation in China.
At present, domestic educational publishing books are mainly divided into student teaching materials and teaching supplementary books. The student textbook is a nine-year compulsory education book. The publishing house has weak pricing power for student textbooks, and the overall profit margin is small, and the market has high barriers to entry and high concentration.
However, in the field of auxiliary books related to teaching materials, since such books do not limit the proportion of profits, and are stimulated by the domestic examination system, the sales of domestic textbooks are always in a hot state, and the main competitive market of publishing companies is also here. .
In 2017, the number of students at all levels in China exceeded 270 million person-times, reaching 276 million person-times, a year-on-year growth rate of 2.16%. Compared with 2016, the number of students at all levels of the country increased by 0.85 percentage points, which has been increasing for four consecutive years. The trend of rapid growth.
Trends in the number of students at all levels in the country from 2011 to 2017
The continuous increase in the number of students in school has greatly stimulated the growth of the size of the textbook-assisted book market in China. On the other hand, according to the statistics of the Ministry of Education, the total number of K12 students in China in 2016 was 182 million, and in 2017, K12 in China. The total number of students enrolled in education has grown to 185 million.
On the other hand, from 2013, the “two-child twinsâ€, “single second childâ€, and then to the “comprehensive two-child†in 2016, China’s birth policy has been loosened. The number of primary and secondary school students is expected to increase gradually in recent years. The new market size of its textbook guidance books is also expected to be further expanded.
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