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Shanghai Lujiazui Finance & Trade Zone Development Co (900932) Fair Value & Analysis

Real Estate · CN · Market cap $1.8B

SL Shanghai Lujiazui Finance & Trade Zone Development Co 900932 · SHG
Price$0.3980
Fair Value$0.3349
Upside-15.9%
Quality44/100
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Healthy Growth
Thin margins · 4.9% net margin
High debt · generates free cash flow
Trails peers (3/11)
Narrow moat 40/100
Evidence: Medium Range $0.2201 – $0.4475 Share as image

Fair value as of: Jul 25, 2026

From 14 valuation models · updated 16 days ago

Fair value updated Jul 25, 2026, revised from $0.5191 to $0.3349 (−35.5%) since Jun 26, 2026. Share price +8.4% over the past month.

Below-average quality, and screening another 16% overvalued on our models.

What matters now

  • Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range ($0.2201 to $0.4475) leaves room in how you read the outcome.
  • As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
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Price vs Fair Value (5 years)

$0.8803 $0.3040 Fair Value $0.3349 Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 25, 2026.

How to read this chart

60‑month range $0.3040 – $0.8803 · fair‑value band $0.2201 – $0.4475 · the $0.3980 price screens above the $0.3349 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 25, 2026.

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Analysis

Shanghai Lujiazui Finance & Trade Zone Development Co (900932) currently trades at $0.3980, while our model-based Fair Value estimate is $0.3349, implying the stock looks roughly 15.9% overvalued today. The Quality Score stands at 44/100 (below-average 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: medium).

Over the trailing twelve months, Shanghai Lujiazui Finance & Trade Zone Development Co generated revenue of $16.2B at a net margin of 4.9%. Revenue declined 47.2% year over year. It earns a return on equity of 1.7%. Net debt stands at $51.0B. Fundamentals as of Jul 25, 2026

Our scenario range runs from $0.2201 (bear case) to $0.4475 (bull case); at $0.3980, the current price sits within 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 18% below its 52-week high and 11% 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 -16%, 900932 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 $13.59 $25.15 $41.85 80
Rev-Margin DCF $6.92 $13.95 $22.75 74
Residual Income $3.58 $3.53 $3.10 61
All 14 models by family
DCF Models
FCF DCF $13.92 $27.16 $47.60 38
5Y Revenue Exit $6.92 $13.90 $22.99 39
5Y EBITDA Exit $10.52 $21.35 $34.75 41
10Y Revenue Exit $9.14 $16.34 $26.73 36
10Y EBITDA Exit $11.58 $21.35 $35.77 37
Multiples
P/S Multiple $3.10 $4.14 $5.17 58
P/B Multiple $3.10 $4.14 $5.17 55
EV/EBIT $9.93 $15.07 $20.21 53
EV/EBITDA $9.87 $14.99 $20.11 54
EV/Revenue $3.01 $6.65 $10.30 43
Asset-Based
NCAV (Graham) $2.49 $3.34 $4.99 50
Growth DCF
Growth DCF $13.59 $25.15 $41.85 80
Rev-Margin DCF $6.92 $13.95 $22.75 74
Economic Profit
Residual Income $3.58 $3.53 $3.10 61

Widest divergence: DCF Models ($21.35) versus Asset-Based ($3.34). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $16.2B
Revenue growth (YoY) -47.2%
Net margin 4.9%
Return on equity 1.7%
Free cash flow $9.2B FY2025
P/E ratio 18.3
More key figures
Operating margin 28.8%
EPS (TTM) $0.0200
EPS growth (YoY) -68.4%
Net debt $51.0B FY2025

Figures from reported company fundamentals · as of Jul 25, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 45 · Market factors (momentum, volatility) 49

Profitability 19
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 97
Earnings quality: real cash, not paper profit
Fin. Strength 13
Balance sheet, leverage, solvency risk
Investment 65
Disciplined investing over empire-building
Low Volatility 99
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 26
Distance to the 52-week high (market factor)
Net Issuance 40
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 Lujiazui Finance & Trade Zone Development Co.,Ltd. operates as a real estate company in Pudong New Area. The company develops, sells, operates, and leases real estate properties. Its property portfolio includes office, residential, business, exhibition, hotel, regional development, and charitable properties.

Full company description

Shanghai Lujiazui Finance & Trade Zone Development Co.,Ltd. operates as a real estate company in Pudong New Area. The company develops, sells, operates, and leases real estate properties. Its property portfolio includes office, residential, business, exhibition, hotel, regional development, and charitable properties. The company was founded in 1992 and is based in Shanghai, China. Shanghai Lujiazui Finance & Trade Zone Development Co.,Ltd. operates as a subsidiary of Shanghai Lujiazui Development (Group) Company Limited.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Shanghai Lujiazui Finance & Trade Zone Development Co reported revenue of $18.2B in FY2025 versus $13.9B in FY2021, a compound +7.0%/yr. Reported net income was $1.2B in FY2025, compounding −27.0%/yr from FY2021.

Growth Quality 68/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$18.2B
Latest YoY
+24.0%
Avg. growth/yr (3Y)
+15.6%
Avg. growth/yr (5Y)
+4.6%
Avg. growth/yr (25Y)
+12.5%
Revenue +7.0%/yr
FY21 $13.9B
FY22 $11.8B
FY23 $11.0B
FY24 $14.7B
FY25 $18.2B
Net income −27.0%/yr
FY21 $4.3B
FY22 $1.1B
FY23 $1.4B
FY24 $1.5B
FY25 $1.2B

900932 screens 16% overvalued. Compare with DLF Limited →

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Cite: Fair Value Calculator (2026). "Shanghai Lujiazui Finance & Trade Zone Development Co Fair Value". https://www.fairvalue-calculator.com/stock/900932

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 45 · Below median
Fair Value upside −17% · Below median
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) 5% · Below median
Operating margin (TTM) 29% · Top 25%
Revenue growth -47% · Bottom 25%
Debt / equity 1.51× · Higher than 75% of peers

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

P/E (TTM) 18.3× · Pricier than median
P/FCF 0.2× · Cheaper than median
PEG 0.26× · Cheaper 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 11 · sector 48
FUTURE 0 · sector 0
PAST 7 · sector 10
HEALTH 25 · sector 84
DIVIDEND 0 · sector 38

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 Jul 25, 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%

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Frequently asked questions

Is Shanghai Lujiazui Finance & Trade Zone Development Co (900932) overvalued or undervalued?
As of Jul 25, 2026, our model estimates a fair value of $0.3349 versus a price of $0.3980, about −16% (overvalued).
What is the fair value of 900932?
Our model-based fair value for Shanghai Lujiazui Finance & Trade Zone Development Co is $0.3349 (as of Jul 25, 2026), built from audited fundamentals. The current price is $0.3980.
What is the quality score of 900932?
Shanghai Lujiazui Finance & Trade Zone Development Co has a Quality Score of 44/100. 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 Lujiazui Finance & Trade Zone Development Co (900932)?
Shanghai Lujiazui Finance & Trade Zone Development Co reported trailing-twelve-month revenue of about $16.2B (latest available figure, as of Jul 25, 2026).
What is the net profit margin of 900932?
The net profit margin of Shanghai Lujiazui Finance & Trade Zone Development Co is about 4.9%, meaning it keeps roughly 4.9% of revenue as net income. Based on the latest reported figures.

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.

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