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Employees: 163
Size Shanghai Join Buy (600838.SS) is a China Consumer Discretionary company (Department Stores) with a market value of $628M, the 3315th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥10.45 on 6 Nov 2026.
Performance Over six months the shares gained 9.0%, against -9.6% for the median peer and -16.4% for the China market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 5.5% over the last twelve months (peer median -3.5%); the operating margin is -28.2% (peer median 5.4%).
Valuation It trades at 38.8× enterprise value to sales against a peer median of 1.6× (most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 22% a year for seven years (Req g). Recent delivered growth is 0%, so the hurdle is +22 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 7.9 points below its cost of capital (7.3% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥95.2M | CN¥95.3M | CN¥92.7M | CN¥86.5M | CN¥67.4M |
| Revenue growth | — | +3% | +7% | +28% | — |
| Gross profit | CN¥34.3M | CN¥15.3M | CN¥14.7M | CN¥17.3M | CN¥9.06M |
| EBITDA | n/a | -CN¥2.05M | -CN¥4.06M | -CN¥2.33M | -CN¥4.19M |
| Net income | CN¥46.0M | CN¥45.3M | CN¥42.0M | CN¥62.2M | CN¥52.3M |
| Free cash flow | CN¥71.9M | CN¥75.3M | CN¥84.3M | CN¥70.4M | CN¥109M |
| Capital expenditure | CN¥2.44M | CN¥2.16M | CN¥4.58M | CN¥9.76M | CN¥858,376 |
| Total debt | CN¥22.6M | CN¥26.8M | CN¥13.2M | CN¥20.8M | CN¥22.9M |
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.
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 | 600838.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +28.9% | -1.9% | highest of 21 |
| 6-month return | +9.0% | -9.6% | 3rd highest of 21 |
| Distance from 52-week high | -32.4% | -31.2% | 10th lowest of 21 |
| Revenue growth (TTM) | +5.5% | -3.5% | 3rd highest of 21 |
| Operating margin | -28.2% | 5.4% | lowest of 21 |
| EV / Sales | 38.8× | 1.6× | most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 22.2% | 0.5% | 3rd most demanding of 18 |
| Growth delivered (Del g) | +0.4% | -2.8% | 4th highest of 18 |
| Hurdle (Req g minus delivered) | +21.8 pp | +2.3 pp | 4th most demanding of 18 |
| ROIC minus cost of capital | -7.9 pp | -1.7 pp | lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Join Buy 600838.SS | China | $628M | +9% | +6% | -28% | 38.8× | 22.2% | +0.4% |
| Guangzhou Grandbuy 002187.SZ | China | $600M | -8% | -49% | -2% | 1.6× | -5.3% | -2.0% |
| AEON Kyushu 2653.T | Japan | $597M | -3% | +3% | 2% | 0.3× | n/a | n/a |
| Hefei Department Store 000417.SZ | China | $678M | -13% | -9% | 1% | 0.9× | 3.4% | +1.3% |
| Baida 600865.SS | China | $682M | +5% | +9% | 41% | 16.7× | 13.3% | -2.5% |
| Shanghai Yimin Commercial 600824.SS | China | $572M | -12% | -12% | -2% | 4.7× | 11.8% | -7.6% |
| Wushang 000501.SZ | China | $775M | -18% | -3% | 7% | 2.1× | 11.5% | -4.7% |
| Hangzhou Jiebai 600814.SS | China | $776M | -9% | -3% | 25% | 1.3× | -21.8% | -1.6% |
| Xinjiang Winka Times Department Store 603101.SS | China | $502M | -36% | +5% | 9% | 1.9× | -4.2% | +2.6% |
| Rainbow Digital Commercial 002419.SZ | China | $793M | -15% | -4% | 0% | 1.3× | -5.8% | -0.4% |
| Kintetsu Department Store 8244.T | Japan | $491M | +16% | -1% | 5% | 0.7× | -6.2% | -10.5% |
| Nanjing Central Emporium (Group) Stocks 600280.SS | China | $480M | -9% | -10% | -2% | 4.6× | 17.4% | -8.1% |
| Dashang 600694.SS | China | $827M | -10% | -4% | 12% | 0.8× | -18.9% | -5.1% |
| Wing On Co. International 0289.HK | Hong Kong | $457M | -16% | -2% | 16% | n/a | n/a | n/a |
| Matsuya 8237.T | Japan | $869M | +54% | -1% | 6% | 3.4× | 35.3% | -2.8% |
| Ningbo Zhongbai 600857.SS | China | $444M | +4% | -56% | 4% | 11.5× | 51.6% | -9.2% |
| Shanghai Xujiahui Commercial 002561.SZ | China | $436M | -14% | -6% | -9% | 8.0× | n/a | n/a |
| Far Eastern Department Stores 2903.TW | Taiwan | $910M | -5% | -1% | 13% | 2.4× | 0.5% | -1.8% |
| Shoppers Stop SHOPERSTOP.NS | India | $428M | +2% | +9% | 4% | 1.4× | 17.1% | +23.6% |
| Zhongxing Shenyang Commercial Building 000715.SZ | China | $423M | -13% | -6% | 16% | 1.5× | -12.3% | -2.8% |
| Changsha Tongcheng 000419.SZ | China | $399M | -16% | -21% | 6% | 1.6× | -0.3% | -3.3% |