Shanghai New Huang Pu Industrial Group (600638) Fair Value & Analysis

Real Estate · CN · Market cap 3.3B CNY

A solid business, screening 77% undervalued on our models.

What matters now

• The price is below even our cautious bear case (¥7.06). The market is more pessimistic than our downside scenario.
• Solid quality (57/100) at a price below fair value, the discount is the argument here, not the business quality.
• As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (5 years)

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 ¥3.60 – ¥7.49 · fair‑value band ¥7.06 – ¥10.28 · the ¥4.89 price screens below the ¥8.67 fair value. Dashed = 300-day average. As of Aug 9, 2026.

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Analysis

Shanghai New Huang Pu Industrial Group (600638) currently trades at ¥4.89, while our model-based Fair Value estimate is ¥8.67, implying the stock looks roughly 77.3% undervalued today. The Quality Score stands at 57/100 (solid quality), in the Real Estate 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: high), always confirm before acting.

Over the trailing twelve months, Shanghai New Huang Pu Industrial Group generated revenue of 2.5B CNY at a net margin of 5.2%. Revenue declined 15.0% year over year. It earns a return on equity of 4.2%. The balance sheet holds a net cash position of 2.2B CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥7.06 (bear case) to ¥10.28 (bull case); at ¥4.89, the current price sits below 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 36% below its 52-week high, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at 77%, 600638 screens cheaper 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.

Widest divergence: Growth DCF (¥53.20) versus Economic Profit (¥4.28). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Shanghai New Huang Pu Industrial Group Co., Ltd., together with its subsidiaries, engages in the real estate business in China. It constructs, develops, and operates rental, affordable, and commercial housing, as well as commercial offices, multi-story houses and villas, science and technology parks, and others.

Full company description

Shanghai New Huang Pu Industrial Group Co., Ltd., together with its subsidiaries, engages in the real estate business in China. It constructs, develops, and operates rental, affordable, and commercial housing, as well as commercial offices, multi-story houses and villas, science and technology parks, and others. The company is also involved in real estate management; renovation of old and dangerous buildings; indoor and outdoor building decoration; property management; real estate consulting; and mechanical equipment installation and maintenance. In addition, it engages in the catering business; hotel management; sales of decoration, metal, wood, building, and chemical raw materials, hardware and electrical appliances, department stores, electrical equipment, and auto parts; and management and business services, as well as financial business, including futures brokerage, trusts, funds, and private securities. The company was formerly known as Shanghai New Huang Pu Real Estate Co.,Ltd. and changed its name to Shanghai New Huang Pu Industrial Group Co., Ltd. in July 2019. Shanghai New Huang Pu Industrial Group Co., Ltd. was founded in 1992 and is headquartered in Shanghai, China.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shanghai New Huang Pu Industrial Group reported revenue of ¥2.5B in FY2025 versus ¥3.9B in FY2021, a compound −10.6%/yr. Reported net income was ¥67.6M in FY2025, compounding −11.4%/yr from FY2021.

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Peer Group

Real Estate - Development · 588 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.

Valuation Multiples vs Real Estate - Development median · lower = cheaper

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.

Values & ESG

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

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

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.