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Shanghai Electric Reports Continued Growth in 2024 as Its Clean Energy and High-End Equipment Push Expands

16 aprile 2025 | 11.11

LETTURA: 3 minuti

With Revenue, Gross Margin, Order Volume, and Cash Flow All Achieving Simultaneous Growth in 2024

SHANGHAI, April 16, 2025 /PRNewswire/ -- Shanghai Electric (SEHK:2727, SSE:601727) reported revenue of RMB 116.19 billion. The Company cited its core strengths in nuclear power, wind power, energy storage, and hydrogen energy as key drivers, amid rising global demand for clean energy and high-end equipment manufacturing. As of December 31, 2024, total assets stood at 302.51 billion yuan.

"Shanghai Electric will be guided by our dual carbon goals, focusing on integrated solutions for wind, solar and hydrogen storage while continuing to strengthen our industrial advantages," said Zhu Zhaokai, President of Shanghai Electric. "We believe that through technological innovation and a global presence, Shanghai Electric can contribute more Chinese wisdom to the global energy transition."

The energy equipment sector continued to see strong results, with new orders of 89.1 billion yuan in 2024, an 18.45% year-on-year increase

Shanghai Electric unveiled key innovations across emerging sectors, driving growth in wind power, energy storage, hydrogen energy, and green fuels.

High-end industrial manufacturing equipment made a breakthrough in 2024, with new orders of 42.293 billion yuan

In addition, in 2024, Shanghai Electric reduced management and financial expenses while advancing ESG goals, launching a carbon management platform that cut 23,000 tons of carbon dioxide and ten of its factories were recognized as Shanghai Smart Factories. The Company also expanded into new energy vehicle parts and industrial software. Its R&D expenses in 2024 totalled 5.67 billion yuan, a 5.5% increase, focusing on breakthroughs in gas turbines and grid-type wind turbines. By the end of 2024, the Company held 6,823 valid patents.

For more information about Shanghai Electrics, please visit: https://www.shanghai-electric.com/group_en/.