Shanghai Electric Group (2727) H2 2025 earnings summary

Executive summary

• Total revenue reached RMB126,679 million in 2025, up 9.0% year-over-year, with net profits attributable to owners at RMB1,206 million, a 60.3% increase year-over-year.

• Gross profit margin was 17.9%, and basic earnings per share rose to RMB0.078, up 62.5% year-over-year.

• New orders totaled RMB172.8 billion, up 12.5% year-over-year, with strong contributions from energy equipment, industrial equipment, and integration services.

• The Board proposed a final dividend of RMB1.425 cents per share for 2025.

Financial highlights

• Net profits attributable to owners increased to RMB1,206 million from RMB752 million in 2024.

• Weighted average return on equity was 2.24%.

• Gearing ratio decreased to 40.22% from 41.97% at the start of the year.

• Bank and other borrowings and bonds totaled RMB45,390 million, down RMB1,396 million year-over-year.

• Final dividend payout proposed at RMB221.4 million.

Outlook and guidance

• Focus for 2026 is on technological innovation, digitalization, green development, and industrial chain collaboration.

• Strategic plan aims to accelerate transformation, cultivate emerging industries, and expand domestic and international markets.