PR80804

SHANGHAI, Ap. 25, 2020 /PRNewswire=KYODO JBN/--

Shanghai Electric (SEHK: 02727, SSE: 601727), the world's leading manufacturer

and supplier of power generation and industrial equipment, announced its

audited results for the fiscal year ended December 31, 2019.

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Key 2019 Financial and Operating Metrics Compared with the Preceding Year

-- Gross revenue increased by 26 percent to RMB 127.509 billion

-- Profit attributable to shareholders of the parent company increased by

24.83 percent to RMB 3.72 billion

-- New orders increased by 30.6 percent to RMB170.79 billion

-- Basic earnings per share is up 25 percent from RMB 0.20 to RMB 0.25

-- Staffing in R&D increased to 3,124 personnel from 3082 with the total

investment in R&D being RMB 4.102 billion

New orders for energy equipment, industrial equipment, and integrated services

accounted for 33.2 percent, 26.7 percent and 40.1 percent of the total new

orders, respectively.

Rising by 12.1 percent in sales to RMB 45,944 million, the Energy Equipment

Business Segment has continuously maintained steady performance, comprising

coal-fired power generation equipment, power transmission and distribution

equipment, gas-fired power generation equipment, nuclear power generation

equipment, wind turbines and components, energy storage equipment, and high-end

chemical equipment among others.

The sales derived from the Industrial Equipment Business Segment including

elevators, medium and large-sized electric motors, intelligent manufacturing

equipment, industrial basic parts, environmental protection equipment among

others are up by 11.6 percent at RMB 46,409 million.

The Integrated Services Business Segment, encompassing the Energy Engineering

Services, the Environmental Engineering Services, the Automation Engineering

and Services, the Industrial Internet service, the Financial Services, and the

International Trade Services, has an 83.5 percent increase in revenue up to RMB

44,316 million.

One of the notable highlights is the Company's achievement in its wind power

equipment business, which has clinched the world's largest onshore wind

turbines order for Inner Mongolia's Wulanchabu wind power base. Another

significant accomplishment is the order for 39 sets of 4MW onshore wind

turbines and towers from the NORINCO International Croatia project, marking its

formal entry into the European wind power market.

As a project representative in the coal-fired power generation business unit,

the Anhui Pingshan Power plant is poised to operate in late 2020 with its world

record-breaking thermal efficiency at 48.92 percent. The breakthrough 1,350 MW

ultra-supercritical double reheat power generation unit has helped in

controlling global emissions of greenhouse gases for a more sustainable future

by reducing the coal consumption for power generation to 251g/kWh.

To maintain the Company's leadership in energy-related products, Shanghai

Electric has diversified its business and invested into production of new types

of batteries. The Company's independently developed and manufactured lithium

iron phosphate battery is used at Beijing's Daxing International Airport,

mobile energy storage system in Xiong'an New District that connects the grid,

and power battery system for new energy bus are testament of strong demand in

its order book.

In 2019, Shanghai Electric has launched the Industrial Internet to push the

boundary of minds and machines. With the "Industrial Internet SEunicloud

Platform", the Company is now providing a one-stop solution for wind power

intelligent operation, thermal power remote operation and machine tool

maintenance through the convergence of the global industrial system with the

power of advanced computing, analytics, low-cost sensing and new levels of

connectivity permitted by the Internet.

Shanghai Electric has been expanding its global reach with major progress of

projects in the Middle East (Thar Coal Field and Power Plant Project

(https://bit.ly/3aC33H9) ), (Dubai 700 MW Concentrated Solar Power Plant

Project (https://bit.ly/2VZtTUf)), South Asia (Combined Cycle Power Plant

(CCPP) Project in Bangladesh (https://bit.ly/3awqRff)), South Australia, among

other regions. The Company has also announced that it is to join the Expo 2020

Dubai (https://bit.ly/2yCDcBr) as the official partner of the China Pavilion,

demonstrating its global ambition.

Shanghai Electric has prepared a presentation for its 2019 annual results,

which is available on Shanghai Electric's Investor Relations website at

https://bit.ly/2S7HRSL

About Shanghai Electric

Shanghai Electric Group Company Limited (SEHK: 02727, SSE: 601727) is

principally engaged in the designing, manufacturing and sale of power equipment

and industrial equipment. It focuses on Energy Equipment Business including

manufacturing and sale of coal-fired power generation equipment, gas-fired

power generation equipment, nuclear power equipment, wind power equipment,

energy storage equipment, Industrial Equipment Business including production

and sale of elevators, medium and large-sized electric motors, intelligent

manufacturing equipment, industrial basic parts, environmental protection

equipment and the Integrated Services Business including the contracting of

construction of power generation plants, power transmission and distribution

projects as well as other businesses.

Related Links

www.shanghai-electric.com

Source: Shanghai Electric