Shanghai Electric Group Co Ltd
- Industrie
- AI Compute Energy
- Bourse
- Shanghai
- Pays / Région
- China
- Effectif
- 43 074
- Site web
- www.shanghai-electric.com
Fourchette de valorisation composite · prudent ¥3–¥4.5 / raisonnable ¥4.5–¥7 / optimiste ¥7–¥9. À ¥6.6, Dans la fourchette de valeur intrinsèque raisonnable.
À la publication ¥9.07 (20 mai 2026)
Données EODHD, présentées dans la devise de reporting ; à titre indicatif uniquement, ne constitue pas un conseil en investissement.
Shanghai Electric Group Co., Ltd. manufactures and sells industrial and energy equipment in Mainland China and internationally. The company operates through Energy Equipment Business, Industrial Equipment Business, and Integrated Service Business segments. It offers designs, manufactures, and sells nuclear power, energy storage, coal-fired power generation and auxiliary, gas power generation, wind power, hydrogen, photovoltaic, and high-end chemical equipment, as well as elevators, large and medium-sized electric motors, intelligent manufacturing equipment, industrial basic parts, and construction industrialization equipment. The company also provides power grid and industrial intelligent power supply system solutions; energy, environmental protection and automation engineering and services, such as traditional and new energy, comprehensive utilization of solid waste, sewage treatment, flue gas treatment, and rail transit; industrial internet services; financial services, including financial leasing, factoring, asset management, and insurance brokerage; and park and property management services. The company was founded in 1902 and is headquartered in Shanghai, the People's Republic of China.
Historique
Shanghai Electric Group Co., Ltd. was founded in 1902 and is headquartered in Shanghai, China, where it has grown into a heavy-equipment and systems-engineering conglomerate employing roughly 43,074 people. Its operations are organized into three segments that reflect this evolution: Energy Equipment (nuclear, energy storage, coal-fired and gas power generation, wind, hydrogen, photovoltaic, high-end chemical equipment, and grid and industrial intelligent power-supply systems), Industrial Equipment (elevators, large and medium-sized electric motors, intelligent manufacturing equipment, industrial basic parts, and construction-industrialization equipment), and Integrated Service (energy, environmental-protection and automation engineering, industrial internet, financial services such as financial leasing, factoring, asset management and insurance brokerage, and park and property management). It is a state-controlled enterprise whose controlling shareholder, Shanghai Electric Holding Group, held about 41.19% at the end of 2025, with the actual controller being the Shanghai state-owned assets system; other top-ten holders include state-backed entities such as Shanghai State-Owned Capital Investment Co., Ltd. The shares are dual-listed, trading as both A-shares and H-shares. In 2024 the company carried out a business combination under common control, which led to a retroactive adjustment of its 2023 comparative data. In its history the company also encountered receivables and asset-quality problems: in 2021 it identified overdue accounts receivable, with collections below expectations, at its subsidiary Shanghai Electric Communication Technology Co., Ltd.
Position dans le secteur
Shanghai Electric is one of China's large, full-line energy- and industrial-equipment platforms, serving power-generation groups, grid systems, local state-owned platforms, industrial customers, infrastructure operators, and overseas power and industrial projects. Its scale is substantial: 2025 revenue was about RMB 126.679 billion, although net profit attributable to shareholders was only about RMB 1.206 billion, a net margin of roughly 0.95%. Order intake is sizeable and rising, growing from RMB 137.21 billion in 2023 to RMB 172.8 billion in 2025, the latter exceeding that year's revenue for a book-to-bill ratio of about 1.36x; the 2025 new orders broke down into RMB 92.13 billion of Energy Equipment, RMB 44.48 billion of Industrial Equipment, and RMB 36.19 billion of Integrated Service. The customer base is broad rather than concentrated: in 2024 the top five customers together accounted for about RMB 7.439 billion, or roughly 6.4% of revenue. Its most directly comparable competitor is Dongfang Electric, whose 2025 revenue was about RMB 78.615 billion and net profit about RMB 3.831 billion (net margin about 4.87%); the Harbin Electric system and specialized manufacturers in individual sub-segments are also competitors. The company's competitive barriers stem from qualification and regulatory entry requirements in nuclear power and major energy-equipment projects, its scale in procurement and manufacturing, switching costs embedded in nuclear and power-generation equipment and subsequent maintenance, and long-standing project experience and client relationships with large state-owned enterprises and utilities.
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