Shanghai Electric Group (2727) H1 2025 earnings summary

Executive summary

• Total revenue for H1 2025 reached RMB54,303 million, up 8.9% year-over-year, with net profit attributable to owners at RMB821 million, up 7.3% year-over-year.

• Basic EPS was RMB0.053, up 8.2% year-over-year.

• New orders totaled RMB109.81 billion, with significant contributions from energy equipment, industrial equipment, and integration services.

• No interim dividend was proposed or declared for H1 2025.

Financial highlights

• Gross profit margin for the period was 19.0%.

• Operating profit for H1 2025 was RMB2,813 million, up 11.6% year-over-year.

• Total assets increased to RMB312,900 million, up from RMB302,500 million at year-end 2024.

• Net cash flow from operating activities was RMB1,568 million, reversing a negative flow from the prior year.

• Cash at bank and on hand increased to RMB37.87 billion.

Outlook and guidance

• Focus on national strategies, high-quality development, and dual-drive strategy of upgrading traditional and emerging businesses.

• Emphasis on strengthening main business, expanding advanced manufacturing, and investing in future industries.

• Commitment to research in key technologies and future industry layout.