AsiaNet 86789

SHANGHAI, Nov. 21, 2020 /PRNewswire=KYODO JBN/ --

Shanghai Electric (the "Company") (SEHK: 02727, SSE: 601727), the world's

leading manufacturer and supplier of electric power generation equipment,

industrial equipment and integration services, has reached another milestone

and signed a collaboration agreement with Siemens Energy on smart energy

empowerment center at the global China International Import Expo (CIIE) held in

Shanghai.

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The cooperation aims to build a smart energy empowerment center that can serve

domestic and global energy industries. Based on continuously innovated

industrial internet digital technology, the Shanghai Electric-Siemens Empower

Center is establishing three high-tech business sectors, one virtual-real

digital experience center and one industrial incubator cooperation platform. It

will provide high quality industrial internet digital service for energy

customers on the basis of the core high-end energy equipment industry of the

parent company.

The Shanghai Electric and Siemens Energy collaboration marks another step

forward for the overall upgrade of China's energy industry. The two companies

aim to integrate artificial intelligence, industrial IoT and the value chains

of the industry, in a bid to further expand the Company's business scope and

advance the ecosystem of its smart energy business.

In addition to the agreement with Siemens Energy, the Company also inked deals

at the CIIE with global top 500 enterprises. At the expo, it raked in import

orders worth a total of nearly RMB 2.4 billion, about RMB 500 million more than

last year.

Shanghai Electric is one of the largest manufacturers in China and operates

businesses across various sectors. A leader in the fields of traditional

thermal and renewable energy equipment manufacturing, the Company has long

focused in the fields of energy and industrial equipment, and integration

services. The Company also stands out in the wind power sector with its

offshore wind power equipment taking up the majority of market shares.

Siemens Energy is one of the world's leading energy technology companies. With

its portfolio of products, solutions and services, Siemens Energy covers almost

the entire energy value chain – from power generation and transmission to

storage. The portfolio includes conventional and renewable energy technology,

such as gas and steam turbines, hybrid power plants operated with hydrogen, and

power generators and transformers.

Related Links

www.shanghai-electric.com

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Source: Shanghai Electric

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   Caption: Shanghai Electric and Siemens Energy to Establish Smart Energy Empowerment

Center