PR83894

SHANGHAI, May 2, 2020 /PRNewswire=KYODO JBN/ --

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

and supplier of power generation and industrial equipment, released its 2019

Corporate Social Responsibility Report highlighting its commitment to corporate

social responsibility and key advancements in 2019. The company's CSR

strategies are designed not only to minimize the potential unfavorable impact

of its products and operations, but also to activate the brand's purpose

"Empower global industry, Make life smarter."

"It is a remarkable year for Shanghai Electric as the company has made major

technological breakthroughs in many fields such as gas turbines, nuclear main

pumps, high-efficiency clean coal power, offshore wind power, 3D printing, and

flow batteries," said Shanghai Electric's Chairman and CEO Zheng Jianhua, "Our

employees are always the primary driving force behind this and it is vital for

us to strengthen the bond with our employees worldwide through effective

reforms in profit sharing mechanism and human-centered management."

Innovation in profit sharing mechanisms

To attract and retain talents, Shanghai Electric has adopted an equity

incentive plan since May 2019. This consists of A-share restricted stock units,

which have functioned as a supply-side stimulus to economic growth that

benefits both employers and workers. Through the Plan, 2194 Shanghai Electric

staff would receive performance incentives of a total of 134 million restricted

stock units in the hope of reinforcing team effort and commitment.

Digital Transformation

Shanghai Electric has launched its Industrial Internet " SEunicloud Platform"

to push the boundaries of minds and machines. The platform represents a

significant step in the company's digital transformation

(https://en.prnasia.com/releases/apac/shanghai-electric-reports-26-rise-in-gross

-revenue-in-2019-annual-results-278415.shtml). The emerging business units of

Shanghai Electric, including storage batteries and intelligent manufacturing,

have also scaled up by 30% through leveraging mergers and acquisitions, joint

ventures, venture capital and increased R&D investment.

EHS practice

Aiming at protecting the safety of employees, Shanghai Electric has established

a health and safety management system that benchmarks a variety of global

occupational health and safety regulations. Eighty percent of the affiliated

companies of Shanghai Electric had been certified with the Occupational Health

and Safety Management Systems (OHSAS18001) by the end of 2019.

The Environmental Protection Committees have also been assembled in various

regional markets worldwide to enhance the execution of the Environment Health

Safety (EHS) guidance. They facilitate the company's ability to respond swiftly

to risks such as the outbreak of coronavirus (EHS practice in Dubai 700 MW CSP

+ 250MW PV Hybrid project concentrated solar power plant

https://en.prnasia.com/releases/apac/shanghai-electric-resumes-major-international-projects-empowered-by-desert-roses--274973.shtml).

They have resulted in a proven record of success: fatal accidents and serious

injuries rate in construction sites remain at zero throughout the previous

year.

Stronger Community

With the "Employee Home" established in seven International engineering project

sites outside China, Shanghai Electric has provided a communal arena for

employees from distinctive cultural backgrounds to communicate, socialize and

entertain. It has also strengthened the bond between the company and the local

residents as a multi-functional international community space.

Green & Environmental Protection

Shanghai Electric has implemented the "SEC-LOVE" system within the company to

ensure all departments are aligned with an eco-friendly position. So far, 80%

of the affiliated companies of Shanghai Electric had been certified with the

ISO14001 Environmental Management System (EMS). Projects such as the Nantong

waste incineration power project in Jiangsu, the Dongtai wind power station-in

Jiangsu and the photovoltaic power station in Anhui Huaibei demonstrate the

company's firm belief in the future of clean energy.

Social Responsibility

In November 2019, Shanghai Electric donated teaching materials to the Managile

Elementary School in Zubaidiya Town, Wassit Province. This represented another

milestone in the company's progress toward being an active and enthusiastic

force in development efforts that help the local community. At the end of 2019,

Shanghai Electric's overseas business have employed over 4200 local workers

worldwide.

Following the pandemic outbreaks in January, Shanghai Electric has donated

surgical masks to Fuji Electric Japan, the Wassit Thermal Power Plant in Iraq

(https://en.prnasia.com/releases/apac/shanghai-electric-donates-40-000-masks-to-

wassit-thermal-power-plant-in-iraq-275925.shtml) and the Thar Block-1

Integrated Coal Mine-Power

Project(https://en.prnasia.com/releases/apac/shanghai-electric-achieves-financia

l-close-for-coal-mine-project-of-thar-block-1-integrated-coal-mine-power-project

-in-pakistan-273812.shtml), among others.

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, high-end chemical equipment, power grid and

industrial intelligent power supply system solutions,

Industrial Equipment Business including production and sale of elevators,

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

industrial basic parts, environmental protection equipment, construction

industrialization equipment and the Integrated Services Business including

energy, environmental protection and automation engineering and services,

industrial internet services, financial services, international trade services,

high-end property services and etc.

Related Links

www.shanghai-electric.com

Logo - https://photos.prnasia.com/prnh/20200424/2786026-1-LOGO

SOURCE: Shanghai Electric