TacticScaleWhat Antong (安通控股) Does & How It Makes Money (600179.SS)
Updated October 2026 · reflects Antong's latest reported financials
Chinese container shipping and multimodal transport logistics company. It earns freight and logistics fees from customers for moving containerized cargo.
How Antong makes money
It earns freight and logistics fees from customers for moving containerized cargo. Revenue comes from shipping routes combined with connecting road, rail and waterway transport services.
What Antong does
Antong Holdings Co., Ltd. is a Quanzhou-based Chinese company in container shipping and transport logistics. Besides its core container shipping, it runs waterway, highway, railway and other transport services, so it can offer connected logistics across several modes of transport. The company was founded in 1998 as Heilongjiang Heihua Co., Ltd. and took the Antong Holdings name in 2016 when its main business became shipping and logistics. It is listed on the Shanghai Stock Exchange (600179) and is classified under Integrated Freight & Logistics in the Industrials sector.
Products & services
- Domestic container shipping
- Container transport logistics
- Waterway transportation
- Highway (road) freight transport
- Railway freight transport
- Multimodal transport services
安通控股是做什么的？
安通控股股份有限公司总部位于福建泉州，主要从事集装箱航运和运输物流业务。除核心的集装箱航运外，公司还经营水路、公路、铁路等运输业务，可以提供跨多种运输方式的物流服务。 公司成立于1998年，原名黑龙江黑化股份有限公司，2016年更名为安通控股，主营业务转为航运物流。公司在上海证券交易所上市（600179），属于工业板块中的综合货运与物流行业。
What is Antong worth?
On an owner-earnings DCF, Antong's most-likely value is about ¥2 versus a recent price near ¥4 (148% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~¥1) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
⚠ Capital-intensive — this business reinvests heavily, so free cash flow runs well below its earnings. Fair value here is built on free cash flow, which understates owner earnings for reinvestment-heavy companies — read it as conservative.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
Related companies
Shanghai Zhonggu Logistics (603565.SS) · Sinotrans (601598.SS) · Air China Cargo (001391.SZ)