SHANGHAI ELEC GP UNSP/ADR - SIELY STOCK NEWS

Shanghai Electric will showcase innovations in smart energy and intelligent manufacturing at the China Pavilion during Expo 2020 Dubai starting October 1, 2021. As an official partner, the company aims to highlight China's achievements in energy, including the world's largest solar energy plant in Dubai. The exhibition emphasizes Shanghai Electric's commitment to low-carbon solutions and partnerships for sustainable development. Notably, the Dubai Concentrated Solar Power project will reduce 1.6 million tons of carbon emissions annually, benefiting over 270,000 residents.

On July 26, 2021, Shanghai Electric announced its participation in the World Artificial Intelligence Conference (WAIC 2021) where it discussed advancements in industry intelligence and digital transformation. The company formed a strategic partnership to support an AI Investment Fund initiated by the Shanghai government, aiming to enhance smart factories and medical institutions. Shanghai Electric's digital transformation efforts have been recognized, ranking 9th in a list of Chinese companies promoting digital evolution. Their platform, SEunicloud, has evolved to integrate AI, enhancing operational efficiency and data analysis capabilities.

Shanghai Electric Guoxuan showcased innovative energy solutions at the SNEC 2021 in Shanghai, focusing on a carbon-neutral future. The company’s battery management system won the 'Megawatt Jadeite Award' for its advanced design enhancing operational precision. Highlighting the energy storage market's potential, Shanghai Electric aims to improve energy transition efforts with its technology. With significant market share, particularly in the U.S. and China, the company is positioning itself as a leader in energy storage systems. A memorandum with Pacific Green Technologies marks a commitment to developing lithium-ion energy storage systems.

Shanghai Electric has successfully completed the first hydro test for the molten salt tank at the Parabolic Trough Plant-II of the Mohammed bin Rashid Al Maktoum Solar Park, conducted on May 9. This test marks a significant progress in the world's largest CSP project, which will generate 950MW of clean energy. The solar tower, rising 260m, will be the tallest of its kind, ensuring energy availability around the clock. Despite challenges like labor shortages during Ramadan, the team achieved timely results, showcasing the project's commitment to renewable energy and China's Belt and Road Initiative.

Shanghai Electric Wind Power Group held its IPO on the Shanghai Stock Exchange's Sci-Tech Innovation Board on May 19, 2021, marking a significant milestone in its history. The IPO proceeds will enable the company to enhance product development, digital transformation, and boost testing capabilities while optimizing its capital structure. As a leader in China's offshore wind industry, Shanghai Electric ranks among the top ten global wind turbine manufacturers, with a notable capacity of newly installed turbines. The company aims to leverage this opportunity to drive green energy initiatives and align with China's carbon neutrality goals.

Shanghai Electric has released its 2020 Corporate Social Responsibility Report, marking its 12th CSR and 5th ESG report. Highlighting its commitment to governance and product excellence, the report emphasizes performance in smart energy and intelligent manufacturing, amidst COVID-19 challenges. The company committed RMB 4.75 billion to R&D, an 8.55% year-on-year increase, representing 3.47% of total operating income. Additionally, various initiatives to support environmental conservation and social responsibility, including donations during the pandemic, were outlined.