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Shanghai Electric: Revenue in the first half of the year increased slightly,turning a loss into a profit year-on-year
admin | 2023-09-05 17:45:35    

Shanghai Electric released its 2023 semi-annual report on the evening of August 30. In the first half of this year,the company achieved revenue of 53.078 billion yuan, with a slight year-on-year growth of 5.54%; A 590 million-yuan net profit attributable to shareholders of listed companies, compared to loss of 991 million yuan a year earlier. At the same time, the basic earnings per share of 0.04 yuan in the first half of the company, in the same period of last year is-0.06 yuan.


Shanghai Electric, said during the reporting period, facing the opportunities and challenges of the external environment, the company adhere to the "double carbon" development strategy and green low carbon transition in an all-round way as the main line, strengthen scientific and technological innovation, and actively open up new track, speed up the industrial transformation and upgrading, promoting group comprehensive ground to implement the strategy of "14th Five-Year Plan". The company's gross margin during the reporting period was 17.9%, an increase of 0.9 percentage points year-on-year. The company turned a loss into a profit compared with the same period last year, mainly due to three aspects. First, the company focused on the main responsibilities and businesses, actively explored the market, optimized the industrial structure, and its operating income increased compared with the same period last year; Second, the company continued to improve management energy efficiency, increase investment in scientific research to improve product competitiveness, and the gross profit margin increased compared with the same period last year; Third, at the end of the reporting period, the fair value of financial assets held by the company increased compared with the beginning of the period.


Shanghai Electric said at the same time,during the reporting period, the company implemented new orders of 82.01 billion yuan, up 38.4% from a year earlier. Among the company's new orders, energy equipment amounted to RMB 49.46 billion (including RMB 7.82 billion for nuclear power equipment, RMB 22.68 billion for coal-fired power equipment, RMB 6.21 billion for energy storage equipment and RMB 3.08 billion for wind power equipment), industrial equipment amounted to RMB 21.43 billion and integrated services amounted to RMB 11.12 billion. By the end of the reporting period, the company's orders in hand were 284.18 billion yuan, up 5.8% from the end of last year. Among them, the energy equipment 165.54 billion yuan (including: nuclear power equipment of 32.59 billion yuan, coal-fired power equipment is 70.1 billion yuan, energy storage device is 9.39 billion yuan,wind power equipment 26.03 billion yuan), industrial equipment is 15.86 billion yuan, integration services, 102.78 billion yuan.


At the same time, according to the report, Shanghai Electric formally issued the Shanghai Electric group "double carbon" action plan, put forward the goal to ensure that the carbon amount to peak before 2030, strive to realize own operating carbon neutral before 2035 and the whole value chain of carbon neutral development before 2055. To achieve their own "double carbon" as the foundation, to speed up the new track layout, focus on the development of new energy industry, such as "landscape hydrogen storage" in combination with multidisciplinary collaborative linkage, as a new industry users to construct comprehensive power system solutions.


In the field of energy storage, the company has actively layout of compressed air energy storage, pumped storage, the flywheel energy storage, lithium-ion battery energy storage, fluid flow and the energy storage technology, build multivariate energy storage industry coordinated development of ecology. In the field of hydrogen, relying on in the field of high-end equipment manufacturing and system integration technology accumulation, actively provide the hydrogen“making, storage, processing and use" four links of the whole industry chain solutions.In the field of wind power, electric wind power continued to maintain its leading advantage in the offshore wind power market, ranking first in the country in terms of new installed capacity of offshore wind power for eight consecutive years. In the field of photovoltaic, during the reporting period, a number of photovoltaic projects undertaken by the Company in overseas markets such as the UK and Japan were successfully connected to the grid.In the field of solar thermal technology, the Dubai photovoltaic solar thermal power station project undertaken by the company is the world's largest installed capacity and the highest technical standard of solar thermal photovoltaic power complex project.


Shanghai Electric expressed that the company will continue to deep high-end equipment manufacturing and actively promote upgrading of the industrial structure, fully exert its own energy with the advantage of industry system solution, support industry customers realize green low carbon transformation development. Outlook for the second half of 2023, the company will firmly grasp the "seek improvement in stability, keep innovation, unswervingly take the path of quality development" total working tone,improve its scientific and technological innovation capability, industry development ability, innovation ability and sustainable development ability, focusing on the main business, centralized advantage. With science and technology innovation as the driving group, realize the "double carbon" strategic target by high quality development.

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