SHANGHAI, April 25, 2020 / PRNewswire / – 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 year ended December 31, 2019.
Main financial and operational indicators for 2019 compared to the previous year
- Gross turnover increased by 26% for 127.509 billion RMB
- The result attributable to shareholders of the parent company increased by 24.83% to 3.72 billion RMB
- New orders increased by 30.6% for 170.79 billion RMB
- Basic earnings per share are up 25% from 0.20 RMB To RMB 0.25
- The R&D workforce increased from 3,082 to 3,124 people, the total R&D investment being 4.102 billion RMB
New orders for energy equipment, industrial equipment and integrated services accounted for 33.2%, 26.7% and 40.1% respectively of total new orders.
12.1% increase in sales to 45,944 million RMB, the Energy equipment business segment has continuously maintained stable performance, including coal-fired power generation equipment, power transmission and distribution equipment, gas power generation equipment, nuclear power generation equipment, wind turbines and high-end components, energy storage equipment and chemical equipment, among others.
Sales derived from Industrial equipment business segment including elevators, medium and large electric motors, intelligent manufacturing equipment, industrial core parts, environmental protection equipment, among others, are up 11.6% to 46,409 million RMB.
The Integrated services business sector, encompassing energy engineering services, environmental engineering services, engineering and automation services, industrial internet service, financial services and international trade services, has an 83.5% increase in revenue business up to 44,316 million RMB.
One of the notable highlights is the Company’s achievement in its wind power equipment business, which landed the world’s largest onshore wind turbine order for the Wulanchabu wind base in Inner Mongolia. Another significant achievement is the order for 39 sets of 4 MW wind turbines and land towers from the NORINCO International Croatia project, marking its official entry into the European wind energy market.
As the project representative in the coal-fired power generation business unit, Anhui Pingshan Power Plant is ready for operation by the end of 2020 with its world record thermal efficiency of 48.92%. The revolutionary 1350 MW ultra-supercritical dual-heat power generation unit has helped control global greenhouse gas emissions for a more sustainable future by reducing the use of coal for power generation at 251 g / kWh.
To maintain the Company’s leadership in energy-related products, Shanghai Electric has diversified its activities and invested in the production of new types of batteries. The lithium iron phosphate battery independently developed and manufactured by the Company is used at that of Beijing Daxing International Airport, the mobile energy storage system in Xiong’an new district that connects the grid and the new energy bus power supply battery system show strong demand in its portfolio of orders.
In 2019, Shanghai Electric launched the Industrial Internet to push the boundaries of minds and machines. With the “SEunicloud industrial Internet platform“, the company now provides a unique solution for the intelligent exploitation of wind power, remote exploitation of thermal power and maintenance of machine tools through the convergence of the global industrial system with the power of the advanced computing, analysis, low-cost detection and new levels of connectivity enabled by the Internet.
Shanghai Electric has expanded its global reach with major project advancements in the Middle East (Thar Coal Deposit and Power Plant Project), (Dubai 700 MW Concentrated Solar Power Plant Project), South Asia (Combined Cycle Power Plant (CCPP) Project in Bangladesh), South australia, among other regions. The company also announced that it will join Expo 2020 Dubai as an official partner of the Chinese pavilion, demonstrating its global ambition.
Shanghai Electric has prepared a presentation of its 2019 full year results, which is available on the Shanghai Electric Investor Relations website at https://www.shanghai-electric.com/listed_en/upload/resources/file / 2020/04/18 // 86486 .pdf
About Shanghai Electric
Shanghai Electric Group Company Limited (SEHK: 02727, SSE: 601727) is mainly engaged in the design, manufacture and sale of electrical equipment and industrial equipment. It focuses on Energy equipment company including the manufacture and sale of coal-fired power generation equipment, gas-fired power generation equipment, nuclear equipment, wind power equipment, energy storage equipment, Industrial equipment company including the production and sale of elevators, medium and large size electric motors, intelligent manufacturing equipment, industrial core parts, environmental protection and safety equipment. Integrated services company including procurement for the construction of power plants, power transmission and distribution projects as well as other enterprises.
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