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Developer and operator of industrial parks in Shanghai's Lingang free-trade zone, plus related property.
Developer and operator of industrial parks in Shanghai's Lingang free-trade zone, plus related property.
Earns by developing industrial buildings and leasing or selling them to companies setting up in the Lingang zone, so income follows investment flowing into the area and the pace of land and building handover. A state-owned development group for the Lingang area controls it.
Moat: narrow (regulatory licence, distribution). Preferred developer status within a government-designated free-trade zone.
Headquarters: Shanghai, China · Employees: 857
Size Shanghai Lingang (600848.SS) is a China Information Technology company (Electronic Equipment/Instruments) with a market value of $3.00B, the 857th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥8.17 on 6 Nov 2026.
Performance Over six months the shares fell 9.0%, against -25.0% for the median peer and -16.4% for the China market (cap-weighted) — 8th highest of 20 in its peer set.
Growth Revenue fell 25.8% over the last twelve months (peer median +6.2%); the operating margin is 14.9% (peer median 9.6%).
Valuation It trades at 19.4× forward earnings against a peer median of 23.8× (7th cheapest of 17).
Price implies For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is +15%, so the hurdle is -2 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.8 points below its cost of capital (5.0% WACC).
Next results Next results expected around 12 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥8.09B | CN¥7.91B | CN¥11.2B | CN¥7.04B | CN¥5.97B |
| Revenue growth | — | -30% | +60% | +18% | — |
| Gross profit | CN¥3.39B | CN¥2.78B | CN¥5.00B | CN¥3.52B | CN¥3.23B |
| EBITDA | n/a | CN¥2.58B | CN¥4.36B | CN¥3.12B | CN¥2.75B |
| Net income | CN¥688M | CN¥969M | CN¥1.11B | CN¥1.06B | CN¥1.01B |
| Free cash flow | CN¥1.03B | -CN¥932M | -CN¥5.02B | -CN¥5.46B | CN¥708M |
| Capital expenditure | CN¥140M | CN¥75.9M | CN¥216M | CN¥109M | CN¥32.4M |
| Total debt | CN¥39.2B | CN¥32.5B | CN¥29.2B | CN¥26.1B | CN¥20.9B |
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 Lingang 600848.SS | $3.00B | -9% | -26% | 15% | 19.4× | 12.9% |
| Shanghai Zhangjiang Hi-Tech Park Development 600895.SS | $5.71B | -33% | +89% | 26% | 36.4× | n/a |
| Shanghai Jinqiao Export Processing Zone Development 600639.SS | $1.37B | -10% | +203% | 23% | 5.7× | n/a |
| Shanghai Waigaoqiao Free Trade Zone 600648.SS | $1.60B | -15% | -3% | 8% | 12.1× | 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 | 600848.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.4% | -13.7% | 9th highest of 21 |
| 6-month return | -9.0% | -25.0% | 8th highest of 20 |
| Distance from 52-week high | -42.4% | -46.6% | 8th highest of 21 |
| Revenue growth (TTM) | -25.8% | +6.2% | lowest of 21 |
| Operating margin | 14.9% | 9.6% | 8th highest of 21 |
| Forward P/E | 19.4× | 23.8× | 7th cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | 12.9% | 14.1% | 7th least demanding of 14 |
| Growth delivered (Del g) | +15.1% | +11.6% | 4th highest of 14 |
| Hurdle (Req g minus delivered) | -2.2 pp | +2.3 pp | 6th least demanding of 14 |
| ROIC minus cost of capital | -2.8 pp | -0.8 pp | 8th lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Lingang 600848.SS | China | $3.00B | -9% | -26% | 15% | 19.4× | 12.9% | +15.1% |
| Addsino 000547.SZ | China | $3.02B | -49% | -6% | -54% | n/a | n/a | n/a |
| Ginlong Technologies 300763.SZ | China | $2.98B | -47% | +4% | 11% | 19.2× | 10.0% | +27.2% |
| Syntec Technology 7750.TW | Taiwan | $3.15B | -46% | +60% | 25% | 13.2× | 17.2% | +24.3% |
| GeniuS Electronic Optical 3406.TW | Taiwan | $2.81B | +59% | +16% | 20% | 20.1× | 5.9% | +9.5% |
| Kehua Data 002335.SZ | China | $2.81B | -41% | +5% | 5% | 31.4× | 16.7% | +14.4% |
| GRG Banking Equipment 002152.SZ | China | $3.26B | -25% | 0% | 9% | 23.0× | 4.0% | +13.5% |
| Oxford Nanopore Technologies ONT.L | United Kingdom | $2.71B | +75% | +15% | -55% | n/a | n/a | n/a |
| Focuslight Technologies 688167.SS | China | $2.71B | -44% | +22% | -9% | 284.8× | n/a | n/a |
| Shenzhen SEICHI Technologies 688627.SS | China | $3.37B | -24% | +65% | 3% | 89.1× | n/a | n/a |
| Ningbo Sanxing Medical Electric 601567.SS | China | $2.66B | -37% | -11% | 3% | 15.8× | 4.8% | +15.1% |
| Shenzhen CSL Vacuum Science & Technology 688785.SS | China | $2.62B | -21% | -2% | 18% | n/a | n/a | n/a |
| Suzhou HYC Technology 688001.SS | China | $2.59B | -31% | +19% | 6% | 61.1× | 37.6% | +5.9% |
| Dexerials 4980.T | Japan | $2.55B | -4% | +5% | 35% | 13.8× | 15.0% | +11.6% |
| Vaisala VAIAS.HE | Finland | $2.54B | +22% | +2% | 16% | 26.9× | 9.7% | +9.5% |
| Sineng Electric 300827.SZ | China | $2.35B | -25% | +29% | 12% | 24.7× | n/a | n/a |
| Keli Sensing Technology (Ningbo) 603662.SS | China | $2.28B | -4% | +24% | 19% | 51.6× | 24.7% | +13.4% |
| CIQTEK 688828.SS | China | $4.17B | n/a | +33% | -5% | n/a | n/a | n/a |
| Itron ITRI | United States | $4.32B | +20% | -4% | 14% | 14.5× | 9.2% | +1.7% |
| ULVAC 6728.T | Japan | $2.01B | -34% | +7% | 7% | 15.5× | 14.1% | +8.0% |
| INFICON IFCN.SW | Switzerland | $4.51B | 0% | -2% | 17% | 32.8× | 19.7% | +8.4% |