TacticScaleWhat Shanghai Lingang (上海临港) Does & How It Makes Money (600848.SS)
Updated October 2026 · reflects Shanghai Lingang's latest reported financials
Shanghai industrial park developer, landlord, and park services provider. It makes money by selling industrial park properties and collecting rent from tenants.
How Shanghai Lingang makes money
It makes money by selling industrial park properties and collecting rent from tenants. It also earns income from services for park companies, such as property management and business support.
What Shanghai Lingang does
Shanghai Lingang Holdings develops, sells and leases industrial park facilities in China. It also does research and development on buildings and industrial plants. Its parks operate under three brands: Lingang, Caohejing and Science and Technology Oasis. It is headquartered in Shanghai and was founded in 1994. Beyond property, the company offers services to businesses in its parks. These include tax planning, support for innovation and startups, property management, talent, intellectual property, technology finance and digital transformation. The company was previously named Shanghai Automation Instrumentation Co., Ltd. and took its current name in November 2015.
Products & services
- Lingang industrial parks
- Caohejing parks
- Science and Technology Oasis parks
- Industrial plant and building sales and leasing
- Property management services
- Park enterprise services (tax, IP, talent, tech finance, digital transformation)
上海临港是做什么的？
上海临港控股股份有限公司在中国从事产业园区的开发、销售和租赁，也开展建筑和工业厂房的研发。旗下园区以临港、漕河泾和科技绿洲三个品牌运营。公司成立于1994年，总部在上海。 除了物业本身，公司还为园区企业提供服务，包括税务筹划、创新创业、物业、人才、知识产权、科技金融和数字化转型等。公司原名上海自动化仪表股份有限公司，2015年11月更名为现名。
What is Shanghai Lingang worth?
On an owner-earnings DCF, Shanghai Lingang's most-likely value is about ¥12 versus a recent price near ¥9 (25% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~¥7) 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.
⚠ High leverage — net debt is 11.7× annual cash flow. Net debt is subtracted from this fair value, but refinancing at higher rates, principal timing, and share dilution aren’t modeled — the equity can be worth far less if cash flow weakens.
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 →
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