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Producer Manufacturing

Shanghai Electric Group Co., Ltd.

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 HKDUSD
Revenue157,671.70M20,284.96M
Gross Profit21,590.52M2,777.68M
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 Share00
Total Assets369,026.05M47,333.48M
Total liabilities246,949.15M31,675.17M
Total equity71,113.72M9,121.47M
Operating cash flow-9,119.00M-1,173.18M
Currency in HKDCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 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 2017Dec 2018Dec 2019Dec 2020Dec 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

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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
Last Updated on 11 Aug, 2022

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