EN DE

Shanghai Chengtou Holding (600649) Fair Value & Analysis

Real Estate · CN · Market cap 9.1B CNY

SC Shanghai Chengtou Holding 600649 · SHG
Price¥3.63
Fair Value¥2.62
Upside-27.9%
Quality50/100
Watch Shanghai Chengtou Holding for free, get notified when fair value or trend changes. Watch for free
Mixed Growth
Thin margins · 2.1% net margin
Moderate debt · generates free cash flow
1.08% dividend yield
Trails peers (4/15)
Narrow moat 35/100
Evidence: High Range ¥1.97 – ¥2.62 Share as image

Fair value as of: Aug 9, 2026

From 15 valuation models · updated yesterday

Share price +2.8% over the past month.

A solid business, but screening 28% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (¥2.62). The favourable scenario is already priced in.
  • Solid but not exceptional quality (50/100) and above fair value, neither a clear bargain nor a standout compounder.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Share this valuation: 𝕏 WhatsApp

Price vs Fair Value (5 years)

¥5.68 ¥3.07 Fair Value ¥2.62 Mar 2021 Aug 2026

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 ¥3.07 – ¥5.68 · fair‑value band ¥1.97 – ¥2.62 · the ¥3.63 price screens above the ¥2.62 fair value. Dashed = 300-day average. As of Aug 9, 2026.

Full chart & analysis →

Which stocks are undervalued right now? Check free Discover now →

Analysis

Shanghai Chengtou Holding (600649) currently trades at ¥3.63, while our model-based Fair Value estimate is ¥2.62, implying the stock looks roughly 27.9% overvalued today. The Quality Score stands at 50/100 (solid quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Shanghai Chengtou Holding generated revenue of 13.0B CNY at a net margin of 2.1%. Revenue declined 63.6% year over year. It earns a return on equity of 1.0%. Net debt stands at 34.0B CNY. Fundamentals as of Aug 9, 2026

Our scenario range runs from ¥1.97 (bear case) to ¥2.62 (bull case); at ¥3.63, the current price sits above 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 37% below its 52-week high and 2% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 32% fair-value upside, at -28%, 600649 screens richer 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF ¥3.54 ¥14.49 ¥34.95 80
Residual Income ¥65.57 ¥153.30 ¥7,625 76
Rev-Margin DCF ¥4.21 ¥13.05 74
All 15 models by family
DCF Models
FCF DCF ¥4.22 ¥12.42 ¥35.90 38
5Y Revenue Exit ¥3.18 ¥12.55 39
5Y EBITDA Exit ¥0.5200 ¥7.92 ¥21.45 41
10Y Revenue Exit ¥6.92 ¥13.94 36
10Y EBITDA Exit ¥1.60 ¥11.08 ¥27.97 37
Dividend Discount
Gordon GGM ¥0.3500 ¥0.7000 ¥1.06 70
DDM Multi-Stage ¥0.3500 ¥0.6000 ¥0.7400 61
Multiples
P/S Multiple ¥28.06 ¥37.41 ¥46.76 58
P/B Multiple ¥12.60 ¥16.80 ¥21.00 55
EV/EBIT ¥2.35 ¥5.20 53
EV/EBITDA ¥1.91 ¥4.66 54
Asset-Based
NCAV (Graham) ¥4.20 ¥5.63 ¥8.40 50
Growth DCF
Growth DCF ¥3.54 ¥14.49 ¥34.95 80
Rev-Margin DCF ¥4.21 ¥13.05 74
Economic Profit
Residual Income ¥65.57 ¥153.30 ¥7,625 76

Widest divergence: Economic Profit (¥153.30) versus Dividend Discount (¥0.6000). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 13.0B CNY
Revenue growth (YoY) -63.6%
Net margin 2.1%
Return on equity 1.0%
Free cash flow 2.2B CNY FY2025
P/E ratio 33.4
More key figures
Operating margin 23.6%
EPS (TTM) ¥0.1100
Dividend yield 1.1%
EPS growth (YoY) -70.0%
Net debt 34.0B CNY FY2025

Figures from reported company fundamentals · as of Aug 9, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 50/100

Of which business quality 51 · Market factors (momentum, volatility) 30

Profitability 62
Margins and returns on capital today
Quality Growth 84
Are margins and returns improving?
Cashflow 57
Earnings quality: real cash, not paper profit
Fin. Strength 23
Balance sheet, leverage, solvency risk
Investment 92
Disciplined investing over empire-building
Low Volatility 74
Calm price path (market factor)
Momentum 12
Price trend over the last 3–12 months (market factor)
52W Momentum 11
Distance to the 52-week high (market factor)
Net Issuance 0
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Shanghai Chengtou Holding Co., Ltd., together with its subsidiaries, engages in the real estate business in China. The company develops, operates, manages, and invests in various properties, including commercial and rental housing, science and technology parks, urban historical and cultural protection blocks, and hotels.

Full company description

Shanghai Chengtou Holding Co., Ltd., together with its subsidiaries, engages in the real estate business in China. The company develops, operates, manages, and invests in various properties, including commercial and rental housing, science and technology parks, urban historical and cultural protection blocks, and hotels. It is also involved in equity investment; property management; and food and beverage management. The company was incorporated 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 Chengtou Holding reported revenue of ¥14.4B in FY2025 versus ¥9.2B in FY2021, a compound +11.9%/yr. Reported net income was ¥29.0B in FY2025, compounding +137.6%/yr from FY2021.

Growth Quality 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
14.4B CNY
Latest YoY
+52.8%
Avg. growth/yr (3Y)
+19.4%
Avg. growth/yr (5Y)
+17.0%
Avg. growth/yr (32Y)
+13.3%
Revenue +11.9%/yr
FY21 ¥9.2B
FY22 ¥8.5B
FY23 ¥2.6B
FY24 ¥9.4B
FY25 ¥14.4B
Net income +137.6%/yr
FY21 ¥912M
FY22 ¥783M
FY23 ¥415M
FY24 ¥243M
FY25 ¥29.0B

600649 screens 28% overvalued. Compare with DLF Limited →

Share or link this analysis
For bloggers & editors: embed code + live data

For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.

Cite: Fair Value Calculator (2026). "Shanghai Chengtou Holding Fair Value". https://www.fairvalue-calculator.com/stock/600649

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.

Quality Score 51 · Above median
Fair Value upside −28% · Below median
Return on equity (TTM) 1% · Below median
Return on assets 1% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 24% · Top 25%
Revenue growth -64% · Bottom 25%
Dividend yield (TTM) 1.1% · Below median
Debt / equity 1.47× · Higher than 75% of peers

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

P/E (TTM) 33.0× · Pricier than 75% of peers
P/B 0.43× · Cheaper than median
P/S (TTM) 0.70× · Cheaper than median
P/FCF 0.6× · Pricier than median
EV/EBITDA 20.8× · Pricier than 75% of peers
PEG 2.09× · Pricier than 75% of peers

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.

VALUE 0 · sector 48
FUTURE 0 · sector 0
PAST 4 · sector 10
HEALTH 26 · sector 84
DIVIDEND 22 · sector 38

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

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Aug 9, 2026).

Stock Price Fair Value vs Fair Value
DLF Limited DLF ₹657.75 ₹159.49 -76%
Lodha Developers Limited LODHA ₹1,188 ₹583.43 -51%
PT Pantai Indah Kapuk Dua Tbk, PANI 6,125 IDR 1,330 IDR -78%
Oberoi Realty Limited OBEROIRLTY ₹1,925 ₹1,183 -39%
Godrej Properties Limited GODREJPROP ₹2,102 ₹1,044 -50%
PT Jaya Real Property, Tbk., JRPT 1,080 IDR 1,674 IDR +55%
PT Bumi Serpong Damai Tbk, BSDE 555.00 IDR 1,388 IDR +150%
PT Sentul City Tbk, BKSL 64.00 IDR 84.16 IDR +32%
PT Ciputra Development Tbk, CTRA 555.00 IDR 1,388 IDR +150%
PT Duta Pertiwi Tbk DUTI 4,100 IDR 6,239 IDR +52%

Compare Shanghai Chengtou Holding with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Explore undervalued stocks

More undervalued Real Estate stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Frequently asked questions

Is Shanghai Chengtou Holding (600649) overvalued or undervalued?
As of Aug 9, 2026, our model estimates a fair value of ¥2.62 versus a price of ¥3.63, about −28% (overvalued).
What is the fair value of 600649?
Our model-based fair value for Shanghai Chengtou Holding is ¥2.62 (as of Aug 9, 2026), built from audited fundamentals. The current price is ¥3.63.
What is the quality score of 600649?
Shanghai Chengtou Holding has a Quality Score of 50/100. 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 revenue of Shanghai Chengtou Holding (600649)?
Shanghai Chengtou Holding reported trailing-twelve-month revenue of about 13.0B CNY (latest available figure, as of Aug 9, 2026).
What is the net profit margin of 600649?
The net profit margin of Shanghai Chengtou Holding is about 2.1%, meaning it keeps roughly 2.1% of revenue as net income. Based on the latest reported figures.
Does Shanghai Chengtou Holding pay a dividend?
Shanghai Chengtou Holding currently shows a dividend yield of about 1.08% relative to its recent price (as of Aug 9, 2026).

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.

14 days Pro free · no card

Track Shanghai Chengtou Holding and try Pro for 14 days

One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.

Zero risk: nothing is ever charged. After 14 days you decide whether to stay.