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Fosun-controlled operator of Shanghai's Yuyuan Garden tourist/retail district, plus gold and jewelry retail under the Laomiao brand.
Fosun-controlled operator of Shanghai's Yuyuan Garden tourist/retail district, plus gold and jewelry retail under the Laomiao brand.
Gold and jewelry sales, mainly through Laomiao stores run largely by franchise partners, bring in most of the revenue, with the gold price passing straight into sales. The garden district earns from rents and visitor spending. Fosun International holds control.
In one line: A Chinese mix of a heritage tourist-shopping district operator and a jewelry retailer.
Moat: narrow (brand, installed base). Irreplaceable heritage tourist site and a recognized gold-jewelry retail brand in China.
Headquarters: Shanghai, China · Founded: 1988 · Employees: 11,852
Size Shanghai Yuyuan Tourist Mart (600655.SS) is a China Consumer Discretionary company (Specialty Stores) with a market value of $2.70B, the 954th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.64 on 6 Nov 2026.
Performance Over six months the shares fell 5.9%, against +2.0% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue fell 21.1% over the last twelve months (peer median +7.2%); the operating margin is -3.2% (peer median 9.0%).
Valuation It trades at 77.3× forward earnings against a peer median of 16.5× (most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 16% a year for seven years (Req g). Recent delivered growth is -4%, so the hurdle is +20 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.4 points below its cost of capital (5.0% WACC).
Next results Next results expected around 19 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥31.0B | CN¥36.2B | CN¥46.7B | CN¥57.9B | CN¥49.7B |
| Revenue growth | — | -23% | -19% | +16% | — |
| Gross profit | CN¥6.28B | CN¥4.21B | CN¥5.64B | CN¥7.26B | CN¥7.68B |
| EBITDA | n/a | -CN¥1.43B | CN¥446M | CN¥1.76B | CN¥2.24B |
| Net income | -CN¥4.24B | -CN¥4.90B | CN¥125M | CN¥2.02B | CN¥3.68B |
| Free cash flow | CN¥1.01B | CN¥1.91B | CN¥3.27B | CN¥4.36B | -CN¥565M |
| Capital expenditure | CN¥855M | CN¥847M | CN¥1.23B | CN¥682M | CN¥552M |
| Total debt | CN¥43.3B | CN¥44.3B | CN¥41.3B | CN¥43.0B | CN¥45.6B |
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 | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Shanghai Yuyuan Tourist Mart 600655.SS | $2.70B | -6% | -21% | -3% | 77.3× | 15.9% |
| Chow Tai Fook 1929.HK | $15.0B | +3% | +5% | 19% | 11.3× | -8.1% |
| Chow Tai Seng Jewelry 002867.SZ | $1.88B | -12% | -22% | 14% | 13.1× | 1.3% |
| Lao Feng Xiang 600612.SS | $2.04B | -17% | -40% | 6% | 17.2× | -16.9% |
| Chow Sang Sang Holdings International 0116.HK | $1.13B | +7% | +16% | 20% | 3.1× | n/a |
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 | 600655.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.3% | +11.3% | 5th lowest of 21 |
| 6-month return | -5.9% | +2.0% | 8th lowest of 20 |
| Distance from 52-week high | -24.6% | -19.9% | 7th lowest of 21 |
| Revenue growth (TTM) | -21.1% | +7.2% | 2nd lowest of 21 |
| Operating margin | -3.2% | 9.0% | lowest of 21 |
| Forward P/E | 77.3× | 16.5× | most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 15.9% | 4.0% | 2nd most demanding of 17 |
| Growth delivered (Del g) | -4.4% | +8.0% | lowest of 17 |
| Hurdle (Req g minus delivered) | +20.3 pp | -4.4 pp | most demanding of 17 |
| ROIC minus cost of capital | -5.4 pp | +2.0 pp | 2nd lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Yuyuan Tourist Mart 600655.SS | China | $2.70B | -6% | -21% | -3% | 77.3× | 15.9% | -4.4% |
| Advance Auto Parts AAP | United States | $2.75B | -19% | -1% | 4% | 19.2× | 5.6% | -3.2% |
| Bob's Discount Furniture BOBS | United States | $2.54B | +42% | +17% | 9% | 20.2× | 13.4% | +4.0% |
| RH RH | United States | $2.48B | -2% | +3% | 10% | 20.2× | 11.4% | +3.8% |
| Dunelm DNLM.L | United Kingdom | $2.44B | +24% | +3% | 12% | 11.7× | 2.4% | +6.4% |
| POYA International 5904.TWO | Taiwan | $2.38B | +65% | +13% | 17% | 18.7× | 0.7% | +7.6% |
| Watches of Switzerland WOSG.L | United Kingdom | $2.34B | +43% | +11% | 10% | 14.1× | 14.5% | +15.1% |
| TRIAL Holdings.Inc 141A.T | Japan | $3.12B | +2% | +69% | 2% | 43.1× | 11.0% | +53.9% |
| Group 1 Automotive GPI | United States | $3.12B | -27% | -3% | 5% | 7.1× | -6.1% | +16.3% |
| Warby Parker WRBY | United States | $3.15B | -14% | +11% | 0% | 57.8× | n/a | n/a |
| Eagers Automotive APE.AX | Australia | $3.18B | -31% | +19% | 4% | 16.5× | 5.9% | +8.3% |
| Lalithaa Jewellery Mart LALITHAA.NS | India | $2.21B | n/a | +48% | 6% | n/a | n/a | n/a |
| Lovisa LOV.AX | Australia | $2.18B | +32% | +18% | 18% | 27.8× | 21.9% | +26.7% |
| MINISO 9896.HK | Hong Kong | $3.34B | -25% | +31% | 13% | 9.9× | 1.5% | +18.5% |
| Super Retail SUL.AX | Australia | $2.14B | +22% | +3% | 9% | 13.8× | 6.7% | +4.0% |
| North West NWC.TO | Canada | $2.02B | +17% | +1% | 8% | 17.1× | -2.8% | +1.9% |
| Asbury Automotive ABG | United States | $3.64B | +1% | -1% | 5% | 7.6× | -2.4% | +20.3% |
| MTG 7806.T | Japan | $1.96B | +36% | +44% | 11% | 27.4× | n/a | n/a |
| Sonic Automotive SAH | United States | $1.95B | -24% | +2% | 3% | 9.3× | n/a | n/a |
| Chow Tai Seng Jewelry 002867.SZ | China | $1.88B | -12% | -22% | 14% | 13.1× | 1.3% | +11.7% |
| Academy Sports and Outdoors ASO | United States | $4.14B | +24% | +4% | 10% | 9.9× | -1.2% | +1.2% |