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COFCO's real-estate arm, developing 'Joy City' shopping-mall and residential complexes in major Chinese cities.
COFCO's real-estate arm, developing 'Joy City' shopping-mall and residential complexes in major Chinese cities.
Sells apartments when they are completed and handed over, which makes profit lumpy, and holds its Joy City malls to collect rent and fees from tenants over many years; the two balance quick cash against steady income.
In one line: A Chinese state-backed mixed-use mall/residential developer.
Moat: narrow (brand, scale). Recognized national 'Joy City' mall brand backed by state-owned parent COFCO.
Headquarters: Beijing, China · Employees: 5,906
Size Grandjoy (000031.SZ) is a China Real Estate company (Real Estate Development) with a market value of $1.38B, the 1772nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥2.14 on 6 Nov 2026.
Performance Over six months the shares fell 30.1%, against -16.2% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue fell 25.3% over the last twelve months (peer median +6.7%); the operating margin is 3.2% (peer median 27.6%).
Valuation It trades at 0.96× book value against a peer median of 1.05× (10th cheapest of 21).
Price implies The share price implies a return on equity of about 9.7%; Grandjoy delivers -29.6%, so the price asks more than the business earns today.
Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥25.7B | CN¥30.8B | CN¥35.1B | CN¥36.6B | CN¥39.4B |
| Revenue growth | — | -12% | -4% | -7% | — |
| Gross profit | CN¥7.29B | CN¥9.64B | CN¥6.99B | CN¥9.49B | CN¥9.24B |
| EBITDA | n/a | CN¥4.15B | CN¥3.33B | CN¥2.46B | CN¥4.96B |
| Net income | -CN¥2.91B | -CN¥2.35B | -CN¥2.98B | -CN¥1.47B | -CN¥2.88B |
| Free cash flow | CN¥477M | CN¥2.44B | CN¥5.17B | CN¥9.27B | CN¥1.70B |
| Capital expenditure | CN¥1.69B | CN¥694M | CN¥1.52B | CN¥1.79B | CN¥1.57B |
| Total debt | CN¥67.2B | CN¥63.3B | CN¥67.6B | CN¥72.2B | CN¥74.7B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Grandjoy 000031.SZ | $1.38B | -30% | -25% | -30% | 0.96× | 9.7% |
| China Res Land 1109.HK | $29.1B | -7% | -12% | 8% | 0.68× | 7.9% |
| Seazen 601155.SS | $4.23B | -15% | -39% | 1% | 0.45× | 5.5% |
| Longfor 0960.HK | $4.05B | -47% | -42% | 0% | 0.17× | 5.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 000031.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.5% | -0.1% | 5th lowest of 21 |
| 6-month return | -30.1% | -16.2% | 4th lowest of 20 |
| Return on equity | -29.6% | 6.1% | 2nd lowest of 21 |
| Price / book | 0.96× | 1.05× | 10th cheapest of 21 |
| ROE the price implies | 9.7% | 6.3% | 8th most demanding of 19 |
| ROE delivered | -29.6% | 6.1% | 2nd lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Grandjoy 000031.SZ | China | $1.38B | -30% | -25% | -30% | 0.96× | 9.7% | -29.6% |
| Shanghai Chengtou 600649.SS | China | $1.38B | -14% | -53% | -1% | 0.44× | 4.7% | -0.8% |
| Evergrande Property Services 6666.HK | Hong Kong | $1.37B | -34% | +9% | 64% | 4.37× | 33.7% | 64.3% |
| Shanghai Jinqiao Export Processing Zone Development 600639.SS | China | $1.37B | -10% | +203% | 6% | 0.70× | 2.9% | 6.3% |
| Zug Estates ZUGN.SW | Switzerland | $1.37B | -2% | +1% | 6% | 1.01× | n/a | 5.9% |
| Cham Swiss Properties CHAM.SW | Switzerland | $1.38B | -5% | -78% | 1% | 1.09× | n/a | 1.0% |
| Opendoor Technologies OPEN | United States | $1.36B | -72% | -37% | -197% | 1.48× | 28.0% | -196.9% |
| China Merchants Property Operation & Service 001914.SZ | China | $1.36B | -16% | +6% | 6% | 0.81× | 7.2% | 5.9% |
| Seazen 1030.HK | Hong Kong | $1.36B | -36% | -35% | 1% | 0.19× | 6.3% | 0.7% |
| Starts 8850.T | Japan | $1.35B | -6% | +7% | 14% | 1.12× | 5.7% | 14.0% |
| Deutsche EuroShop DEQ.DE | Germany | $1.40B | -16% | +2% | 12% | 0.66× | 4.0% | 11.9% |
| China Overseas Property 2669.HK | Hong Kong | $1.41B | -17% | +11% | 22% | 1.53× | 16.9% | 21.8% |
| Horizon Industrial Parks HORIZONIND.NS | India | $1.33B | n/a | +83% | -5% | 1.54× | 22.0% | n/a |
| Gmp Property SOCIMI YGMP.MC | Spain | $1.33B | -4% | 0% | 10% | 0.68× | 4.8% | n/a |
| Grand City Properties GYC.DE | Germany | $1.42B | -19% | +2% | 10% | 0.33× | 4.5% | 9.9% |
| Icade ICAD.PA | France | $1.33B | -22% | -9% | -5% | 0.33× | 5.4% | -5.0% |
| Sobha SOBHA.NS | India | $1.44B | -12% | +10% | 4% | 2.88× | 42.0% | 4.1% |
| Sakura Development 2539.TW | Taiwan | $1.31B | -28% | +10% | 28% | 2.17× | 6.3% | 28.1% |
| Atrium Ljungberg ATRLJ-B.ST | Sweden | $1.45B | -24% | +8% | 2% | 0.49× | 5.3% | 2.1% |
| NP3 Fastigheter NP3.ST | Sweden | $1.45B | -14% | +11% | 15% | 1.23× | 12.7% | 15.5% |
| Intea Fastigheter INTEA-B.ST | Sweden | $1.45B | -11% | +28% | 14% | 2.89× | 17.0% | 14.4% |