Producer Manufacturing
Shanghai Electric Group Co., Ltd.
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Company Background
Shanghai Electric Group produces a wide range of heavy equipment, from nuclear power stations to elevators to industrial robots. Founded in 2004 and headquartered in Shanghai, the company went public on the Hong Kong Exchanges and Clearing in 2005 and on the Shanghai Stock Exchange in 2008.
The company's net profit in 2014 stood at 2.51 billion yuan on sales of 76.7 billion yuan. Its power generation equipment business, which covers nuclear and wind harnessing, accounts for 50% of the company's sales. Its next biggest sales generator is its industrial machinery division, which makes elevators and industrial robots, at 30%. Its engineering business, which operates power-generation facilities and provides other services, is next, at 20%.
The Chinese government has suggested it will push nuclear power generation to solve the nation's air pollution problem and to meet domestic demand for electricity, which will rise as the country's economy further develops. Shanghai Electric Group Co. accounts for nearly half of China's nuclear power equipment market. With the government promoting reactor exports, the company is benefiting there, too.
The company traces its roots back to the Shanghai municipal government's heavy industry department. Shanghai Electric Group Corp., entirely owned by the municipality, owns about 57% of Shanghai Electric Group Co.
Business Summary
Shanghai Electric Group Co., Ltd. engages in equipment manufacturing businesses. It operates through the following business segments: New Energy and Environmental Protection, High Efficiency and Clean Energy, Industrial Equipment, Modern Services, and Others. The New Energy and Environmental Protection segment designs, manufactures, and sells nuclear island equipment products, wind power equipment products, environmental protection equipment products, and heavy machinery including large forging components; and provides solution package for comprehensive utilization of solid waste, sewage treatment, power generation, environment protection, and distributed energy systems. The High Efficiency and Clean Energy segment includes thermal power equipment products and collar equipment, nuclear power conventional island equipment products and power transmission and distribution equipment products. The Industrial Equipment segment consists of elevators, automation equipment, electrical motors, machine tools, components, and other electromechanical equipment products. The Modern Services segment offers integrated engineering services for power station projects and other industries, financial products and services, international trading services, financial lease and related consulting services, and insurance brokerage services. The Others segment includes components such as the central research institute and spare houses management. The company was founded on March 1, 2004 and is headquartered in Shanghai, China.
Financial Highlights
| Dec 2021 | HKD | USD |
| Revenue | 157,671.70M | 20,284.96M |
| Gross Profit | 21,590.52M | 2,777.68M |
| Operating income | -16,033.48M | -2,062.75M |
| Income before tax | -12,428.64M | -1,598.98M |
| Net income | -12,037.53M | -1,548.66M |
| EBITDA | -12,965.79M | -1,668.08M |
| Diluted EPS | -0.76 | -0.09 |
| Dividends Per Share | 0 | 0 |
| Total Assets | 369,026.05M | 47,333.48M |
| Total liabilities | 246,949.15M | 31,675.17M |
| Total equity | 71,113.72M | 9,121.47M |
| Operating cash flow | -9,119.00M | -1,173.18M |
| Currency in HKD | Currency in USD |
Historical Data
| Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | |
| Revenue | 91,089.32M | 119,200.51M | 143,994.11M | 153,650.78M | 157,671.70M |
| Gross Profit | 19,468.45M | 23,302.49M | 25,392.47M | 23,862.73M | 21,590.52M |
| Operating income | 2,695.10M | 6,352.55M | 6,313.50M | 3,830.01M | -16,033.48M |
| Income before tax | 4,826.98M | 6,501.87M | 7,180.46M | 6,106.11M | -12,428.64M |
| Net income | 3,066.72M | 3,572.93M | 3,969.88M | 4,223.03M | -12,037.53M |
| EBITDA | 5,172.60M | 8,838.97M | 9,368.55M | 7,186.77M | -12,965.79M |
| Diluted EPS | 0.21 | 0.22 | 0.25 | 0.26 | -0.76 |
| Dividends Per Share | 0.11 | 0.06 | 0 | 0.08 | 0 |
| Total Assets | 240,253.73M | 249,737.71M | 314,287.84M | 374,738.90M | 369,026.05M |
| Total liabilities | 154,815.08M | 164,640.90M | 210,011.39M | 245,949.99M | 246,949.15M |
| Total equity | 67,223.20M | 65,317.50M | 70,858.38M | 78,727.50M | 71,113.72M |
| Operating cash flow | -5,930.04M | 8,113.30M | 13,332.65M | 6,265.15M | -9,119.00M |
| Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | |
| Revenue | 11,688.88M | 15,208.90M | 18,377.85M | 19,810.58M | 20,284.96M |
| Gross Profit | 2,498.25M | 2,973.18M | 3,240.82M | 3,076.68M | 2,777.68M |
| Operating income | 345.84M | 810.52M | 805.78M | 493.81M | -2,062.75M |
| Income before tax | 619.41M | 829.58M | 916.43M | 787.27M | -1,598.98M |
| Net income | 393.53M | 455.87M | 506.67M | 544.48M | -1,548.66M |
| EBITDA | 663.76M | 1,127.77M | 1,195.70M | 926.60M | -1,668.08M |
| Diluted EPS | 0.02 | 0.02 | 0.03 | 0.03 | -0.09 |
| Dividends Per Share | 0.01 | 0.00 | 0 | 0.01 | 0 |
| Total Assets | 30,733.59M | 31,897.63M | 40,335.71M | 48,329.39M | 47,333.48M |
| Total liabilities | 19,804.16M | 21,028.68M | 26,952.87M | 31,719.72M | 31,675.17M |
| Total equity | 8,599.28M | 8,342.64M | 9,093.96M | 10,153.34M | 9,121.47M |
| Operating cash flow | -760.96M | 1,035.18M | 1,701.63M | 807.78M | -1,173.18M |
Valuation Measures
| Dec 2021 | |
| PER | -- |
| ROA | -3.23% |
| ROE | -16.06% |
| Operating margin | -10.16% |
| Profit margin | -7.63% |
Key executives
- Chairman & Chief Executive Officer: Wei Qing Leng
- President & Executive Director: Ping Liu
- Chief Operating Officer: Ming Jie Zhang
- Chief Financial Officer & Joint Secretary: Zhi Yan Zhou
- Vice President: Gan Jin Chen
Shareholders
- Shanghai State-Owned Assets Supervision & Administration (10.7%)
- Sarasin & Partners LLP (6.4%)
- Kopernik Global Investors LLC (3.1%)
- The Vanguard Group, Inc. (2.6%)
- Dimensional Fund Advisors LP (0.8%)
- SSgA Funds Management, Inc. (0.3%)
- Handelsbanken Fonder AB (0.1%)
- Ersel Gestion Internationale SA (United Kingdom) (0.1%)
- Charles Schwab Investment Management, Inc. (0.1%)
- Storebrand Asset Management AS (0.0%)
Contact Details
- Website:http://www.shanghai-electric.com
- Address: 110 Sichuan Middle Road, Huangpu District, Shanghai, 200002, China
- Phone: +86.21.3261888
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Competitors
- Siemens Gamesa Renewable Energy, S.A.
- Wuxi Huaguang Environment & Energy Group Co., Ltd. Class A
- Xiangtan Electric Manufacturing Co., Ltd. Class A
- Bulten AB
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