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SHANGHAI ELEC GP UNSP/ADR (SIELY) is a prominent player in the energy sector, specializing in cutting-edge nuclear power technology. Shanghai Electric, a key participant in the world's first nuclear power plant project to feature Gen IV nuclear power technology, recently achieved a milestone with the successful commercial operation of the Shidaowan High-Temperature Gas-Cooled Reactor Pebble-bed Module (HTR-PM) demonstration project. This groundbreaking project marks China's advancement in nuclear energy innovation, emphasizing safe, reliable, and sustainable power sources to support carbon neutrality goals. Shanghai Electric's contributions to the project include supplying essential equipment such as reactor pressure vessels, turbines, and control systems, showcasing its expertise in the industry. With a focus on HTGR technology, Shanghai Electric is at the forefront of developing safer and more efficient nuclear power solutions, solidifying its position as a leader in the global energy sector.
Shanghai Electric (SEHK:2727, SSE:601727) recently completed an eight-day training program for 20 employees from Pakistan's Thar Coalfield Block I Energy Integration Project. The program, conducted in Shanghai and Beijing, included seminars on corporate culture, advanced technologies, and facility visits to enhance participants' skills and knowledge.
The Thar Coalfield Block 1 project, operational since February 2023, has an annual output capacity of 9 billion kilowatt-hours, serving approximately 4 million households. The company's commitment to sustainability and gender equality was recognized with the Women Empowerment and Gender Equality Award in 2023 from the Employers' Federation of Pakistan and the International Labour Organization, as well as the Contributors to Shared Prosperity accolade at the 16th Annual CSR Summit.
Shanghai Electric (SEHK:2727, SSE:601727) celebrates 10 years since acquiring Nedschroef with the groundbreaking of a second automotive fastener factory in Tarragona, Spain. The new facility is part of Nedschroef's three-year action plan to optimize production capacity and operational efficiency. The company has expanded its technological capabilities through CP Tech's acquisition seven years ago, enabling advancement in high-precision components for automotive, aerospace, and specialized vehicles.
The integration includes supply chain optimization through Shanghai Zhenhua Bearings' high-performance needle bearings supply to CP Tech, and market expansion opportunities through Shanghai Electric's industrial software partnerships to enhance Setup Wizard's visualization capabilities in the civilian automotive market.
Shanghai Electric celebrates 17 years of operations in Africa, highlighting its significant contribution to the continent's power infrastructure development. Since 2007, the company has completed 28 power supply projects, including 1,457.16 kilometers of transmission lines and 51 power plants and substations. Key projects include Djibouti's Railway Electrification (2014), Ethiopia's Transmission Network (2008), Angola's Urban Revitalization (2020), and Nigeria's Grid Modernization. These initiatives have improved electricity access for millions of residents and businesses across Africa.
Shanghai Electric (SEHK:2727, SSE:601727) has signed new strategic cooperation agreements with Carrier Group and SKF China Sales at CIIE 2024. The partnerships aim to enhance Shanghai Electric's R&D capabilities in energy and industrial solutions, focusing on developing and upgrading offerings to support global decarbonization efforts. These collaborations will strengthen the company's innovation in advanced and efficient energy technologies.
Shanghai Electric (SEHK:2727, SSE:601727) showcased its latest green energy innovations at Enlit Asia 2024 in Kuala Lumpur, Malaysia. The company exhibited a comprehensive portfolio of technologies, including:
- Solar energy: Creator 210R series heterojunction modules and Pioneer 210R series TOPCon modules with up to 90% bifacial rate and 640W maximum output
- Hydrogen energy: Alkaline and PEM water electrolysis technologies, featuring the next-generation Z series alkaline electrolyzers with 10,000A/m² current density and 4.1kWh/Nm³ DC energy consumption
- Energy storage: Compressed air, lithium battery, flow battery, flywheel, and molten salt thermal storage solutions
The exhibition also featured core equipment and products for residential, commercial, and industrial energy storage, attracting visitors interested in future partnerships and collaborations.
Shanghai Electric (SEHK:2727, SSE:601727) showcased its latest innovations at the 24th China International Industry Fair (CIIF). The company debuted SRunicloud 5.0 and its industrial internet platform 5.0, alongside announcing the 'Joint Initiative for Industrial Digital Carbon Management Construction' with industry partners.
Key highlights included:
- Integrated equipment system solution for green methanol
- World's largest generator for offshore floating power platforms
- AI-powered big data center with SIMPLE intelligent maintenance platform for gas turbines
- Eco-friendly R290 refrigerant high-efficiency electric compressor for new energy vehicles
The company presented solutions in energy and industry sectors, including integrated wind-solar-storage-adjustment systems, comprehensive hydrogen energy systems, and innovations in shipbuilding, land transportation, and aerospace industries.
Shanghai Electric (SEHK:2727, SSE:601727) reported strong financial results for H1 2024, with revenue of RMB 49.869 billion and net profit of RMB 602 million, up 2.0% year-over-year. The company's gross profit margin reached 19.2%, while cash and cash equivalents stood at RMB 34.102 billion. Shanghai Electric's focus on high-end equipment manufacturing yielded positive outcomes across its key businesses:
- Energy equipment: Revenue of RMB 24.654 billion, 20.10% gross profit margin
- Industrial equipment: Revenue of RMB 18.959 billion, 17.40% gross profit margin
- Integrated service: Revenue of RMB 7.961 billion, 16.60% gross profit margin
The company secured new orders worth RMB 83.66 billion in H1, driven by innovations in thermal power, energy storage, and hydrogen solutions. Shanghai Electric also expanded its global presence with significant projects in the Middle East, Europe, and Asia.
Shanghai Electric Wind Power Group, a subsidiary of Shanghai Electric (SEHK:2727, SSE:601727), has taken delivery of Asia's first offshore wind power service and operation vessels (SOVs), Zhizhen 100 and Zhicheng 60, in Qidong, Jiangsu province. Built by Zhenhua Heavy Industries, these motherships are designed for continuous operation and maintenance in deep water and deep-sea wind farms.
The new SOVs address several challenges faced by China's current marine transportation ships, including short window periods, inability to hold continuous operations, frequent round trips, low efficiency, and poor performance in severe sea conditions. These vessels integrate efficient, green, and smart operations and maintenance capabilities, positioning Shanghai Electric as a leader in offshore wind power technology and services.
Shanghai Electric has completed a comprehensive upgrade of Vietnam's Ninh Binh Power Plant, one of the country's first power plants. The project has increased the output of each of the four steam turbines from 25MW to 27MW and is expected to extend the plant's operational lifespan by 30 years. Built in 1974, the plant is important for northern Vietnam's infrastructure and economic growth, capable of producing 800 million kilowatt-hours of electricity annually at full capacity.
The upgrade addressed complex wear and aging issues, overcoming challenges such as lack of technical documentation. Shanghai Electric provided technical enhancements, including control system upgrades, environmental improvements, and boiler co-firing capabilities. The project has restored turbine efficiency to optimal levels, maximizing power output and improving local grid stability.
Shanghai Electric (SEHK: 2727, SSE: 601727) has launched a comprehensive training program for over 700 newly recruited graduates, focusing on youth career development in the energy industry. The program aims to nurture talent for sectors reshaping the energy landscape, with a strategic focus on innovation in high-end, intelligent, and green industrial and energy equipment.
Key highlights of the recruitment drive include:
- 48% of new hires hold master's or doctoral degrees
- 78 graduates from world-leading universities
- 34% specializing in AI, intelligent manufacturing, and automation
- 40% from green industry backgrounds
The company has implemented a digital recruitment process and developed the 'Excellence E+' talent development framework to maximize young professionals' potential. Subsidiary groups have also launched targeted programs for hands-on training and leadership development in renewable energy sectors.
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