Shanghai Electric’s Impressive 2023 Q1 Financial Results Reflect Business Growth Momentum with Multiple Technological Breakthroughs

(Adnkronos) – 80MW class ultra-high-speed variable frequency conversion explosion-proof synchronous motor has been successfully developed China's first set of 920-bore marine crankshaft forgings have been delivered to China Communications Construction Group SHANGHAI, May 31, 2023 /PRNewswire/ — Shanghai Electric (SEHK:2727, SSE:601727) recently released revenue data for the first quarter of 2023, showing a massive year-on-year increase of 2802.32%. The impressive results go hand-in-hand with multiple successful projects the Company has been involved in of late, including the No. 3 nuclear power unit of the Fangchenggang Nuclear Power Plant in south China's Guangxi Zhuang Autonomous Region that recently connected to the power grid. The Shanghai Yanji intelligent manufacturing project implemented by Shanghai Electric was also successfully launched in the first quarter, and 40 wind turbines at a Shanghai Electric-developed wind power project in Inner Mongolia were successfully delivered and hoisted. Also in the first quarter, Shanghai Electric won an award for best ESG practice for a listed company and the Forbes Best Case Award for its 2022 Industrial Sustainability in China: Exploration and Practice white paper, solidifying institutional and market recognition for the Company's corporate management and sustainable development. "Shanghai Electric has persistently kept scientific and technological innovation at the core of our brand with innovation being the main driving force of our high-quality development. We remain committed to remaining at the vanguard of global peak carbon and carbon neutrality goals. Our full implementation of innovation-driven development has accelerated the realization of self-proprietary cutting-edge technology, comprehensively enhancing the Company's competitiveness in the global green economy," Shanghai Electric President Liu Ping shared at the recent International Forum on China Brand Development held in Shanghai. Shanghai Electric continues to promote technological innovation and sustainable industrial transformation, with a constant eye on long-term development. Recent notable achievements include: For more information about Shanghai Electric for its Q1 business opportunities and overall performance, please visit About Shanghai Electric Shanghai Electric Group Company Limited (SEHK:2727, SSE:601727), a leading global supplier of industrial-grade eco-friendly smart system solutions with a presence around the world, is dedicated to smart energy, intelligent manufacturing, and the integration of digital intelligence. With the focus on low-carbon development and digital transformation by opening up new arenas and promoting new growth drivers, Shanghai Electric will strive to be a leader in the pursuit of to peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060, new energy equipment production, and high-end equipment localization, utilizing the boundless opportunities in an innovative industrial ecosystem along with global partners. Logo –
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