S 
Shanghai Golden Union Commercial Management Group Co 603682.SS · CNY
Real Estate · Shanghai · 🇨🇳 China
8.45
+5.49%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥946.6m
FY2016FY2025
Net income
−CN¥118.9m
FY2016FY2025
Free cash flow
CN¥603.0m
FY2016FY2025
Shareholders' equity
CN¥745.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥946.6m | CN¥1.01bn | CN¥1.03bn | CN¥881.7m | CN¥908.8m | CN¥739.3m | CN¥822.0m | CN¥799.9m | CN¥644.3m | CN¥530.5m |
| Research and development | CN¥2.2m | CN¥2.2m | CN¥2.6m | CN¥2.0m | CN¥1.4m | CN¥1.9m | CN¥1.6m | CN¥677,124 | CN¥0 | CN¥0 |
| Operating income | −CN¥224.2m | CN¥203.9m | CN¥63.5m | CN¥59.7m | CN¥251.8m | CN¥186.3m | CN¥234.7m | −CN¥303.5m | −CN¥325.5m | −CN¥266.8m |
| Net income | −CN¥118.9m | CN¥14.8m | CN¥98.8m | CN¥97.0m | CN¥124.1m | CN¥156.1m | CN¥179.0m | CN¥176.9m | CN¥118.2m | CN¥100.3m |
| Diluted earnings per share | -0.25 | 0.03 | 0.21 | 0.21 | 0.28 | 0.31 | 0.47 | 0.46 | 0.21 | 0.47 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥4.55bn | CN¥5.49bn | CN¥5.64bn | CN¥5.26bn | CN¥5.36bn | CN¥1.87bn | CN¥1.28bn | CN¥1.28bn | CN¥1.15bn | CN¥1.05bn |
| Cash and short-term investments | CN¥218.0m | CN¥334.9m | CN¥292.4m | CN¥372.8m | CN¥317.1m | CN¥629.2m | CN¥183.5m | CN¥202.9m | CN¥86.7m | CN¥69.0m |
| Total liabilities | CN¥3.83bn | CN¥4.44bn | CN¥4.44bn | CN¥4.03bn | CN¥4.11bn | CN¥325.7m | CN¥400.2m | CN¥572.6m | CN¥568.9m | CN¥590.1m |
| Debt | CN¥3.05bn | CN¥3.84bn | CN¥3.44bn | CN¥3.43bn | CN¥3.47bn | CN¥2.63bn | CN¥56.0m | CN¥230.0m | CN¥227.9m | CN¥296.5m |
| Shareholders' equity | CN¥745.1m | CN¥1.02bn | CN¥1.12bn | CN¥1.12bn | CN¥1.13bn | CN¥1.11bn | CN¥882.5m | CN¥703.4m | CN¥582.5m | CN¥463.5m |
| Shares outstanding | 473m | 473m | 473m | 473m | 450m | 497m | 377m | 383m | 556m | 213m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥645.4m | CN¥728.3m | CN¥643.9m | CN¥582.4m | CN¥422.2m | CN¥206.6m | CN¥265.4m | CN¥279.6m | CN¥235.0m | CN¥120.1m |
| Capital spending | −CN¥42.4m | −CN¥77.8m | −CN¥29.6m | −CN¥54.8m | −CN¥72.4m | −CN¥223.8m | −CN¥125.8m | −CN¥79.6m | −CN¥112.6m | −CN¥179.6m |
| Free cash flow | CN¥603.0m | CN¥650.5m | CN¥614.4m | CN¥527.6m | CN¥349.8m | −CN¥17.1m | CN¥139.6m | CN¥200.0m | CN¥122.4m | −CN¥59.4m |
| Dividends paid | −CN¥156.2m | −CN¥104.0m | −CN¥104.0m | −CN¥104.0m | −CN¥104.0m | −CN¥180.6m | −CN¥9.3m | −CN¥72.2m | −CN¥15.1m | −CN¥96.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥227.0m | CN¥227.2m | CN¥217.5m | CN¥237.1m | CN¥249.5m | CN¥241.2m | CN¥233.2m | CN¥257.2m |
| Operating income | CN¥37.6m | CN¥35.2m | −CN¥241.6m | CN¥37.6m | CN¥15.4m | CN¥96.6m | −CN¥31.8m | CN¥58.7m |
| Net income | CN¥13.7m | CN¥9.1m | −CN¥204.7m | CN¥10.4m | CN¥21.6m | CN¥53.9m | −CN¥22.9m | CN¥14.4m |
| Diluted earnings per share | 0.03 | 0.02 | -0.43 | 0.02 | 0.05 | 0.11 | -0.05 | 0.03 |
| Cash from operations | — | — | CN¥188.0m | CN¥139.0m | CN¥174.0m | CN¥144.0m | CN¥192.0m | CN¥197.0m |
| Capital spending | −CN¥3.0m | −CN¥7.0m | −CN¥5.0m | −CN¥4.0m | −CN¥5.0m | −CN¥26.0m | −CN¥11.0m | −CN¥12.0m |
| Free cash flow | — | — | CN¥183.0m | CN¥135.0m | CN¥169.0m | CN¥118.0m | CN¥181.0m | CN¥185.0m |
| Total assets | CN¥4.19bn | CN¥4.34bn | CN¥4.55bn | CN¥4.85bn | CN¥5.02bn | CN¥5.33bn | CN¥5.49bn | CN¥5.66bn |
| Cash and short-term investments | — | — | CN¥218.0m | CN¥169.7m | CN¥241.6m | CN¥320.6m | CN¥334.9m | CN¥288.8m |
| Debt | — | — | CN¥354.4m | CN¥373.3m | — | CN¥383.2m | — | — |
| Shareholders' equity | CN¥664.0m | CN¥650.3m | CN¥745.1m | CN¥949.8m | CN¥991.4m | CN¥1.07bn | CN¥1.02bn | CN¥1.05bn |
Financial ratios
Data as of 21 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | -1.1% | 20.2% | 28.0% | 26.1% | 27.7% | 28.2% | — |
| Net margin | -12.6% | 1.5% | 9.6% | 11.0% | 13.7% | 21.1% | — |
| Return on equity | -16.0% | 1.4% | 8.8% | 8.6% | 11.0% | 14.1% | — |
| Return on assets | -2.6% | 0.3% | 1.8% | 1.8% | 2.3% | 8.3% | — |
| Free cash flow yield | — | 17.9% | 15.8% | 14.3% | 10.9% | 4.8% | 8.2% |
| Revenue growth | -6.1% | -2.3% | 17.0% | -3.0% | 22.9% | -10.1% | — |
| Earnings growth | -905.7% | -85.1% | 1.9% | -21.8% | -20.5% | -12.8% | — |
| Current ratio | 0.65x | 0.58x | 0.50x | 0.63x | 0.58x | 2.36x | — |
| Debt to equity | 0.48x | 0.40x | 0.28x | 0.30x | 0.23x | 0.14x | — |
| Equity ratio | 16.4% | 18.6% | 19.9% | 21.4% | 21.1% | 59.2% | — |
| Interest coverage | -0.06x | 1.09x | 1.69x | 1.35x | 1.62x | 927.71x | — |
| R&D as a share of sales | 0.2% | 0.2% | 0.3% | 0.2% | 0.2% | 0.3% | — |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | -5.0% | 9.4% | -31.6% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.4% | 5.1% | 7.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -1.0% | 2.7% | 9.8% | 0.0% |
| Net margin | -5.3% | 2.4% | 6.7% | 11.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -26.2 | 239.6 | 27.4 | 26.3 | 22.1 | 26.6 |
| Price to sales | 3.3 | 3.5 | 2.6 | 2.9 | 3.0 | 5.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 6 years. Last went ex-dividend on 8 Apr 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.22 | 0.33 | 0.22 | 0.22 | 0.22 | 0.22 | 0.38 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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