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Shanghai state group combining waste-to-energy and environmental services with real estate development in the city.
Shanghai state group combining waste-to-energy and environmental services with real estate development in the city.
Moat: narrow (regulatory licence, scale). State-backed municipal environmental-services contracts plus a Shanghai property land bank.
Headquarters: Shanghai, China · Employees: 525
Size Shanghai Chengtou (600649.SS) is a China Real Estate company (Real Estate Development) with a market value of $1.38B, the 1774th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥3.68 on 6 Nov 2026.
Performance Over six months the shares fell 13.8%, against -16.2% for the median peer and -16.4% for the China market (cap-weighted) — 8th highest of 20 in its peer set.
Growth Revenue fell 52.8% over the last twelve months (peer median +6.7%); the operating margin is 6.5% (peer median 27.6%).
Valuation It trades at 0.44× book value against a peer median of 1.05× (4th cheapest of 21).
Price implies The share price implies a return on equity of about 4.7%; Shanghai Chengtou delivers -0.8%, so the price asks more than the business earns today.
Next results Next results expected around 22 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥8.50B | CN¥14.4B | CN¥9.37B | CN¥2.54B | CN¥8.43B |
| Revenue growth | — | +54% | +269% | -70% | — |
| Gross profit | CN¥1.84B | CN¥2.47B | CN¥1.30B | CN¥1.00B | CN¥781M |
| EBITDA | n/a | CN¥1.62B | CN¥972M | CN¥869M | CN¥267M |
| Net income | -CN¥159M | CN¥289M | CN¥243M | CN¥415M | CN¥783M |
| Free cash flow | -CN¥1.74B | CN¥2.20B | CN¥2.57B | CN¥2.10B | -CN¥8.44B |
| Capital expenditure | -CN¥13.3M | CN¥55.3M | CN¥184M | CN¥72.9M | CN¥363M |
| Total debt | CN¥43.3B | CN¥42.3B | CN¥41.6B | CN¥41.3B | CN¥39.3B |
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 |
|---|---|---|---|---|---|---|
| Shanghai Chengtou 600649.SS | $1.38B | -14% | -53% | -1% | 0.44× | 4.7% |
| Shanghai Industrial Development 600748.SS | $952M | -35% | -3% | -3% | 0.63× | 5.9% |
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 | 600649.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.8% | -0.1% | 6th lowest of 21 |
| 6-month return | -13.8% | -16.2% | 8th highest of 20 |
| Return on equity | -0.8% | 6.1% | 5th lowest of 21 |
| Price / book | 0.44× | 1.05× | 4th cheapest of 21 |
| ROE the price implies | 4.7% | 6.8% | 4th least demanding of 19 |
| ROE delivered | -0.8% | 6.1% | 4th lowest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Shanghai Chengtou 600649.SS | China | $1.38B | -14% | -53% | -1% | 0.44× | 4.7% | -0.8% |
| Grandjoy 000031.SZ | China | $1.38B | -30% | -25% | -30% | 0.96× | 9.7% | -29.6% |
| 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% |
| Sakura Development 2539.TW | Taiwan | $1.31B | -28% | +10% | 28% | 2.17× | 6.3% | 28.1% |
| Sobha SOBHA.NS | India | $1.44B | -12% | +10% | 4% | 2.88× | 42.0% | 4.1% |
| 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% |