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Shanghai Ganglian E Commerce (300226) fair value: what the stock is really worth

As of Sep 22, 2026: fair value of Shanghai Ganglian E Commerce ¥10.60, price ¥17.71, upside -40.2%, quality 35 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Communication Services · CN · ISIN CNE1000013Q9

SG Some data Sep 24, 2026

Shanghai Ganglian E Commerce

300226 · SHE

Weakest SetupStrongly overvalued and low quality.

!Fair value ¥10.60 · Strongly overvalued (−40%)
!Quality 35/100
!Weak Growth (revenue 5y +3.9 %/yr)
!Thin margins · 0.3% net margin (TTM)
!Low debt · negative free cash flow
·0.47% dividend yield
!Trails peers (4/13)
!Narrow moat 22/100
!Evidence only medium, so the estimate is less certain
!Weak on dividend: 9 out of 100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

¥36.72 ¥11.35 Fair Value ¥10.60 Apr 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range ¥11.35 – ¥36.72 · fair‑value band ¥7.64 – ¥13.56 · the ¥17.71 price screens above the ¥10.60 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Shanghai Ganglian E-Commerce Holdings Co., Ltd. provides data services for commodities and related industries in the People's Republic of China.

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Shanghai Ganglian E-Commerce Holdings Co., Ltd. provides data services for commodities and related industries in the People's Republic of China. The company offers big data and data processing, industrial internet data, software development and sale, enterprise management consulting, conference and exhibition, advertising design, and agency and publication services. It also offers consignment transaction and supply chain services; and steel products and related services. It operates banksteel.com, a steel and silver steel spot online trading platform; and Gangyin e-commerce that provides a package of e-commerce solutions for upstream and downstream users in the steel industry. In addition, the company's services cover various industries, such as ferrous and nonferrous metals, energy, chemical, building materials, agricultural products, extends to new energy, new materials, renewable resources, and other commodity fields. Shanghai Ganglian E-Commerce Holdings Co., Ltd. was founded in 2000 and is headquartered in Shanghai, the People's Republic of China.

Stock analysis

Shanghai Ganglian E Commerce (300226) currently trades at ¥17.71, while our model-based Fair Value estimate is ¥10.60, implying the stock looks roughly 67.1% overvalued today.

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Valuation

Bull case: the DCF Models group reads highest at a median of ¥76.60 per share, and 8 of the 17 models we run sit above the ¥17.71 price.

Bear case: the Asset-Based group reads lowest at ¥3.83, and 9 of the 17 models stay below the price. Evidence for this calculation is medium.

Scenario range: ¥7.64 (bear) to ¥13.56 (bull), the price of ¥17.71 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 35/100 (below-average quality), in the Communication Services sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Shanghai Ganglian E Commerce reported revenue of 70.7B CNY in FY2025 versus 65.8B CNY in FY2021, a compound +1.8%/yr. Reported net income was 213M CNY in FY2025, compounding +4.6%/yr from FY2021.

Key figures

Market cap 6.6B CNY (≈ $978M) · P/E ratio 31.6 · P/S ratio 0.10 · EPS (TTM) ¥0.5600 · Dividend yield 0.5% · Net margin 0.3% · Return on equity 8.4% · Return on assets (EBIT) 2.8%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).

What moves the price

The share trades about 35% below its 52-week high and 22% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Communication Services peers we cover trades at 10% fair-value upside, at −40%, 300226 screens richer than that median.

Fair Value models

Bear ¥7.64 Fair Value ¥10.60 Bull ¥13.56
Model Each model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (¥0.3489 per share) are deliberately not added. Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence Evidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Owner Earnings ¥68.24 ¥76.60 ¥92.13 78
Residual Income ¥4.67 ¥5.03 ¥5.91 76
EPV ¥65.14 ¥65.78 ¥66.31 74
All 17 models by family
DCF Models
Owner Earnings ¥68.24 ¥76.60 ¥92.13 78
Earnings-Based
Graham-Dodd ¥3.78 ¥26.38 ¥37.02 63
Lynch FV ¥11.29 ¥16.13 ¥20.97 61
PEG = 1.0 ¥11.29 ¥16.13 ¥20.97 57
EPV ¥65.14 ¥65.78 ¥66.31 74
Dividend Discount
Gordon GGM ¥0.4100 ¥0.7300 ¥1.01 68
DDM Multi-Stage ¥0.4100 ¥0.6700 ¥0.7800 67
Multiples
P/E Multiple ¥8.76 ¥11.68 ¥14.60 63
P/S Multiple ¥7.09 ¥9.46 ¥11.82 58
P/B Multiple ¥7.09 ¥9.46 ¥11.82 55
EV/EBIT ¥70.93 ¥74.42 ¥77.92 66
EV/EBITDA ¥69.31 ¥72.26 ¥75.22 67
EV/Revenue ¥67.92 ¥71.13 ¥74.34 54
Asset-Based
NCAV (Graham) ¥2.86 ¥3.83 ¥5.72 54
Economic Profit
Residual Income ¥4.67 ¥5.03 ¥5.91 76
ROIC Compounder ¥65.14 ¥65.78 ¥66.31 72
Growth Earnings
Growth-Adj P/E ¥13.98 ¥19.97 ¥25.95 67

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Quality Score breakdown

Overall quality 35/100

Of which business quality 36 · Market factors (momentum, volatility) 32

Profitability 37
Margins and returns on capital today
Quality Growth 30
Are margins and returns improving?
Cashflow 14
Earnings quality: real cash, not paper profit
Fin. Strength 45
Balance sheet, leverage, solvency risk
Investment 54
Disciplined investing over empire-building
Low Volatility 63
Calm price path (market factor)
Momentum 22
Price trend over the last 3–12 months (market factor)
52W Momentum 14
Distance to the 52-week high (market factor)
Net Issuance 50
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality Growth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 28/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−7.4%
Revenue growth 3 years Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−2.6%
Revenue growth 5 years Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.9%
Start year 2020 (pandemic). Over 10 years: +12.7% a year
Revenue growth 17 years Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+48.7%
What shareholders gained per year (last 5 years) What the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−6.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.7%
Dividend (yield on the price)0.5%
Profit margin 2019 to 2025 Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.0% → 0%
⚠ Revenue per share shrinking 11.6%/yr over ~6Y (margins intact) Structural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.

300226 screens 67% overvalued. Compare with Alphabet Inc →

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Peer GroupHow 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.Internet Content & Information · 149 stocks

Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score 35 · Bottom 25%
Fair Value upside −40% · Below median
Profitability
Return on equity (TTM) 8% · Above median
Return on assets 1% · Below median
Net margin (TTM) 0% · Below median
Operating margin (TTM) 0% · Below median
Growth and dividend
Revenue growth 23% · Top 25%
Dividend yield (TTM) 0.5% · Bottom 25%
Balance sheet
Debt / equity 0.00× · Below median

Valuation Multiplesvs Internet Content & Information median · lower = cheaper

P/E (TTM) 31.6× · Priciest 25%
P/B 2.99× · Pricier than median
P/S (TTM) 0.09× · Cheapest 25%
PEG 1.37× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 46
FUTURE (revenue growth)100 · sector 31
PAST (return on equity)34 · sector 18
HEALTH (low debt)100 · sector 98
DIVIDEND (yield)9 · sector 39

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

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

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NAVER Corporation 035420 194,700 KRW 315,395 KRW +62%
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REA Group REA A$152.30 A$167.53 +10%

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Cite: Fair Value Calculator (2026). "Shanghai Ganglian E Commerce Fair Value". https://www.fairvalue-calculator.com/stock/300226

Frequently asked questions

Is Shanghai Ganglian E Commerce (300226) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of ¥10.60 versus a price of ¥17.71, about −40% upside (overvalued).
What is the fair value of 300226?
Our model-based fair value for Shanghai Ganglian E Commerce is ¥10.60 (as of Sep 24, 2026), built from audited fundamentals. The current price: ¥17.71.
What is the quality score of 300226?
Shanghai Ganglian E Commerce has a Quality Score of 35/100. 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 price target for Shanghai Ganglian E Commerce (300226)?
Our model-based price target is the fair value of ¥10.60 (as of Sep 24, 2026) from 17 valuation models. Cautious scenario ¥7.64, optimistic scenario ¥13.56. It is a calculation from audited fundamentals, not an analyst target.
What is the Shanghai Ganglian E Commerce stock forecast for 2026?
Our models put fair value at ¥10.60, about −40% upside versus a price of ¥17.71 (overvalued). Cautious scenario ¥7.64, optimistic scenario ¥13.56. The calculation is refreshed regularly with new filings.
What is the revenue of Shanghai Ganglian E Commerce (300226)?
Shanghai Ganglian E Commerce reported trailing-twelve-month revenue of about 73.9B CNY (latest available figure, as of Sep 24, 2026).
Does Shanghai Ganglian E Commerce pay a dividend?
Shanghai Ganglian E Commerce currently shows a dividend yield of about 0.47% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Shanghai Ganglian E Commerce (300226)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Shanghai Ganglian E Commerce it is ¥10.60 per share (as of Sep 24, 2026), against a price of ¥17.71. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Shanghai Ganglian E Commerce stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 300226 trades above its calculated fair value: price ¥17.71, fair value ¥10.60, a gap of about −40% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 300226?
No. The price is what the market pays today (¥17.71); the fair value is what the company's own numbers justify (¥10.60). For Shanghai Ganglian E Commerce the two are ¥7.11 per share apart. That gap is exactly why we show both numbers side by side.
How much is Shanghai Ganglian E Commerce worth?
The market values Shanghai Ganglian E Commerce at about 6.6B CNY (market capitalisation, as of Sep 24, 2026). Per share that is ¥17.71; our models calculate a fair value of ¥10.60 per share.
What do the bullish and bearish scenarios say about 300226?
Our models span a range for Shanghai Ganglian E Commerce: cautious scenario ¥7.64, base ¥10.60, optimistic ¥13.56 per share (as of Sep 24, 2026, price ¥17.71). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 300226?
Shanghai Ganglian E Commerce trades at a price-to-earnings ratio of 31.6 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ¥10.60 is built from several models across several years. Other multiples: PEG 1.4, P/B 3.0, P/S 0.1.
What is the PEG ratio of 300226?
The PEG ratio of Shanghai Ganglian E Commerce is 1.37 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Shanghai Ganglian E Commerce (300226)?
Balance-sheet figures for Shanghai Ganglian E Commerce (as of Sep 24, 2026): return on equity 8.4%, debt of 0.00 per unit of equity. They feed the Quality Score of 35/100, which measures business quality independently of the share price.
How far is 300226 from its 52-week high?
Shanghai Ganglian E Commerce trades at ¥17.71, about 35% below its 52-week high of ¥27.14 and 22% above the low of ¥14.57 (as of Sep 22, 2026). Distance from the high says nothing about value: that is what the fair value of ¥10.60 is for.
Which stocks are comparable to Shanghai Ganglian E Commerce?
From the same area (Communication Services) we also value Alphabet Inc, Meta Platforms, Inc, Tencent Holdings, Spotify Technology S.A, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Shanghai Ganglian E Commerce stock attractive at the current price?
The data as of Sep 24, 2026: price ¥17.71, calculated fair value ¥10.60 (−40%), Quality Score 35/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 300226 calculated?
We run Shanghai Ganglian E Commerce through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ¥10.60, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Shanghai Ganglian E Commerce itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Shanghai Ganglian E Commerce (300226)?
The closing price on Sep 22, 2026 was ¥17.71. Our model-based fair value is ¥10.60, about −40% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Shanghai Ganglian E Commerce right now?
The price sits above even our optimistic bull case (¥13.56). The favourable scenario is already priced in. Weak quality (35/100) and above fair value at the same time, the margin of safety is missing on both counts.

Key figures of Shanghai Ganglian E Commerce

How large is the market capitalisation of Shanghai Ganglian E Commerce (300226)?
The market capitalisation of Shanghai Ganglian E Commerce is 6.6B CNY (≈ $978M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Shanghai Ganglian E Commerce (300226)?
The price-to-sales ratio of Shanghai Ganglian E Commerce is 0.10 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Shanghai Ganglian E Commerce (300226)?
Earnings per share at Shanghai Ganglian E Commerce are ¥0.5600 (price ÷ EPS = P/E 31.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Shanghai Ganglian E Commerce (300226)?
The dividend yield of Shanghai Ganglian E Commerce is 0.5% (payout 14.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Shanghai Ganglian E Commerce (300226)?
The net margin of Shanghai Ganglian E Commerce is 0.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Shanghai Ganglian E Commerce (300226)?
The return on equity (ROE) of Shanghai Ganglian E Commerce is 8.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Shanghai Ganglian E Commerce (300226)?
On an EBIT basis the return on assets of Shanghai Ganglian E Commerce is 2.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Shanghai Ganglian E Commerce (300226)?
The operating margin of Shanghai Ganglian E Commerce is 0.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Shanghai Ganglian E Commerce (300226)?
Revenue at Shanghai Ganglian E Commerce is growing +22.6% versus a year earlier (3y avg −2.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Shanghai Ganglian E Commerce (300226)?
Earnings per share at Shanghai Ganglian E Commerce are growing +2.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Shanghai Ganglian E Commerce (300226) generate?
The free cash flow of Shanghai Ganglian E Commerce is −457M CNY (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Shanghai Ganglian E Commerce (300226) carry?
The net debt of Shanghai Ganglian E Commerce is 470M CNY (fiscal year 2022). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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