Shanghai Electric Group Company Limited (Shanghai Electric) released its unaudited results for the six months ended 30 June 2026.
Revenue and Earnings • Revenue reached RMB 63.33 billion, a 16.6% year-on-year increase. • Profit attributable to shareholders rose 18.2% to RMB 0.97 billion. • Basic EPS was RMB 0.062, up 17.0%. • Gross profit margin stood at 18.6%; operating profit declined 8.7% to RMB 2.57 billion as higher finance costs and impairment charges offset topline growth.
Order Intake • New orders totaled RMB 100.39 billion. – Energy equipment: RMB 64.24 billion (coal-fired RMB 20.23 billion, nuclear RMB 4.57 billion, wind RMB 12.39 billion, energy storage RMB 11.44 billion). – Industrial equipment: RMB 21.25 billion. – Integration services: RMB 14.91 billion.
Segment Performance (external revenue) • Energy equipment: RMB 35.43 billion. • Industrial equipment: RMB 18.37 billion. • Integration services: RMB 9.53 billion.
Balance Sheet Highlights at 30 June 2026 • Total assets: RMB 331.63 billion; equity: RMB 80.46 billion. • Cash on hand: RMB 43.58 billion, up RMB 6.27 billion from year-end 2025. • Inventories rose 13.7% to RMB 53.79 billion. • Accounts receivable eased 1.9% to RMB 36.34 billion; allowance ratio 33.5%. • Bonds payable increased to RMB 6.99 billion after two new RMB 2 billion three-year tranches were issued in March 2026. • Current ratio improved slightly to 1.06 x (current assets RMB 231.07 billion vs. current liabilities RMB 217.78 billion).
Cash Flow & Expenses • Net finance expenses more than doubled to RMB 0.64 billion on higher interest costs. • Credit impairment losses rose 32.8% to RMB 1.04 billion; asset impairment losses expanded to RMB 0.76 billion.
Dividend • The Board does not propose an interim dividend for 2026. A final 2025 cash dividend of RMB 0.01425 per share was paid on 5 June 2026.
Strategic and Operational Developments • Continued focus on high-end equipment, industrial upgrading and international expansion. • Phase I construction of a large forgings & castings plant in Shanghai commenced; multiple green-energy and fusion projects advanced. • Treasury system fully launched; regional headquarters established in Central Asia, Southeast Asia, and MENA to support overseas growth.
Post-Balance-Sheet Events • No material events were reported between 30 June 2026 and the announcement date.
Regulatory and Governance Notes • The company updated its Articles of Association, conducted connected transactions involving RMB 426.91 million of biomass power assets disposal and an RMB 204.35 million acquisition of Anwha Automation shares, and prevailed in two SIAC arbitration cases related to the Sasan project. • Directors confirmed full compliance with the Hong Kong Listing Rules Model Code; no share repurchases occurred during the period.
Shanghai Electric enters the second half of 2026 targeting continued execution of its 15th Five-Year Plan priorities: high-end, intelligent, green and integrated development, supported by ongoing reforms, digitalisation and expanding global presence.