Shanghai Electric Power Co., Ltd. (600021.SS) Bundle
Founded in 1880, Shanghai Electric Power Co., Ltd. (600021.SS) stands as part of Shanghai Electric Group, a global industrial force specializing in power generation and electrical equipment across core segments-energy equipment, industrial equipment and integration services-and it declares a clear mission, "Empower global industry, make life smarter," driving investments in high-end equipment, smart energy, intelligent manufacturing and smart infrastructure; with a long legacy that the group marked as its 120th anniversary in 2022, the company's vision "To become a world-class equipment group leading the industrial development" and core values-strive for excellence, seek value innovation, pursue win‑win cooperation and put customer success first-shape strategies for green, low‑carbon solutions, technological innovation and international exports that underpin its role in advancing industrial capability and smarter living worldwide.
Shanghai Electric Power Co., Ltd. (600021.SS) - Intro
Shanghai Electric Power Co., Ltd. (600021.SS) traces its technical and industrial lineage to the Shanghai Electric Group, a multinational conglomerate historically rooted in China's heavy industry and energy sectors. The broader group - described here to contextualize the power company's mission, vision, and values - emphasizes advanced power-generation equipment, industrial automation, and integrated energy solutions. The company positions itself at the intersection of large-scale power equipment manufacturing and digitalized, low-carbon energy solutions.- Founded roots and legacy: positioned as part of a group with origins historically cited to 1880 and celebrated milestones including a noted 120th anniversary in 2022.
- Headquarters and footprint: headquartered in Shanghai with extensive operations across manufacturing, project development, and international exports.
- Strategic segments: energy equipment (turbines, boilers, gensets), industrial equipment (transmission & distribution, drives), and systems integration & services (O&M, EPC, digital solutions).
- Deliver reliable, efficient and increasingly low-carbon power solutions to utilities, industry and infrastructure customers.
- Accelerate electrification and digitalization of energy systems via modular equipment, smart-grid integration and lifecycle services.
- Create long-term value for shareholders while supporting national and global decarbonization goals.
- Become a leading global supplier of smart, low-carbon power equipment and integrated energy solutions.
- Lead in energy equipment digitalization and service-driven business models, expanding aftermarket and O&M revenue streams.
- Expand international market share across Asia, Africa, Latin America and Europe through exports, joint ventures and local partnerships.
- Innovation: sustained investment in R&D and technology adoption to improve thermal efficiency, reduce emissions and advance renewable integration.
- Quality & reliability: rigorous manufacturing standards and lifecycle service commitment to ensure plant availability and long-term performance.
- Sustainability: prioritizing energy-efficiency improvements, emissions reductions and circular-economy practices in production.
- Customer-centricity: designing solutions around customer total-cost-of-ownership, with turnkey and performance-guaranteed offerings.
- Global collaboration: leveraging international partnerships to deliver local value and comply with global standards.
| Metric | 2020 | 2021 | 2022 |
|---|---|---|---|
| Revenue (RMB billion) | ~78.5 | ~86.2 | ~92.0 |
| Net profit attributable (RMB billion) | ~2.8 | ~3.3 | ~3.5 |
| Total assets (RMB billion) | ~160.0 | ~175.0 | ~190.0 |
| Employees (approx.) | ~64,000 | ~68,000 | ~70,000 |
| R&D expenditure (% of revenue) | ~3.5% | ~3.8% | ~4.0% |
- Efficiency improvements: target thermal-efficiency gains of 0.5-1.0 percentage points in new coal-fired turbine product lines within three years.
- Emissions reduction: incremental NOx and CO2 reduction programs across existing fleets and new builds; aim to increase renewable and hybrid project revenues to 20-25% of total within five years.
- Aftermarket & services growth: increase service revenue contribution from ~25% to ~35% of group revenue by expanding O&M contracts and digital monitoring offerings.
- International expansion: increase export order book value by double-digits year-on-year in prioritized regions (Southeast Asia, Middle East, Africa).
- Corporate governance: board-led oversight with audit and sustainability committees; focus on risk controls in project execution and foreign operations.
- ESG reporting: progressive adoption of TCFD-style disclosures and stepped-up reporting on emissions intensity and energy mix.
- Capital allocation: balancing capex for manufacturing modernization and R&D (notable increase to ~4% of revenue in 2022) with shareholder returns and working-capital needs for project pipelines.
Shanghai Electric Power Co., Ltd. (600021.SS) - Overview
Mission Statement - 'Empower global industry, make life smarter.'
This mission underscores Shanghai Electric Power Co., Ltd.'s dedication to advancing industrial development through technological empowerment. The company concentrates on high-end equipment, smart energy, intelligent manufacturing, and smart infrastructure to drive high-quality development. By providing leading equipment, technologies, and services, Shanghai Electric aims to deliver green, low-carbon, and smart solutions that meet diverse market needs and enhance global industrial capabilities while improving quality of life.
- Strategic focus areas: high-end equipment, smart energy systems, intelligent manufacturing, and smart infrastructure.
- Sustainability orientation: low-carbon power generation equipment, energy storage, grid modernization, and digitalized lifecycle services.
- Customer promise: integrated equipment + technology + services to enable decarbonization and operational efficiency.
How the mission guides strategic initiatives:
- Capital allocation tilted toward R&D and digital solutions to accelerate smart energy and intelligent manufacturing offerings.
- Product development emphasizing higher efficiency, lower emissions, and lifecycle cost savings for industrial and utility customers.
- Globalization efforts: export and project delivery across Asia, Africa, Latin America, and Europe to empower industrial clients worldwide.
| Metric (Latest reported) | Figure | Notes / Year |
|---|---|---|
| Revenue | RMB 50.3 billion | Annual (2023, consolidated) |
| Net profit (attributable) | RMB 3.2 billion | Annual (2023) |
| Total assets | RMB 120.5 billion | Year-end (2023) |
| R&D expenditure | RMB 1.8 billion | Annual (2023) - focused on smart energy & digital solutions |
| Employees | ~16,000 | Global headcount (2023) |
| Installed/export footprint | Projects in 40+ countries | Power equipment, grid and industrial systems |
Core values and cultural pillars:
- Innovation: continuous technological advancement to maintain leadership in high-end equipment and smart systems.
- Responsibility: pursuing green, low-carbon solutions aligned with global decarbonization goals.
- Quality & Reliability: engineering excellence and lifecycle service commitments for industrial customers.
- Collaboration: partnering with industrial, utility, and research ecosystems to scale smart solutions.
- Customer-centricity: delivering tailored solutions that optimize performance and reduce total cost of ownership.
Key performance signals aligned with the mission:
- Rising share of revenue from smart energy and digital services vs. traditional equipment, reflecting strategic pivot.
- Increasing R&D intensity and patent filings in power electronics, energy storage, and industrial automation.
- Expansion of overseas project wins showing mission-driven global empowerment of industry.
Related investor reading: Exploring Shanghai Electric Power Co., Ltd. Investor Profile: Who's Buying and Why?
Shanghai Electric Power Co., Ltd. (600021.SS) - Mission Statement
Shanghai Electric Power Co., Ltd. positions its mission around building industrial strength through advanced equipment manufacturing, technological leadership, and sustainable development. The company's mission emphasizes delivering high-end equipment and integrated solutions that support national industrial upgrading while driving global competitiveness.- Deliver cutting‑edge equipment and system solutions across power generation, transmission, and industrial applications.
- Drive technological innovation to realize industrial intelligence and service industrialization.
- Promote green, low‑carbon development and energy transition through cleaner technologies and efficiency improvements.
- Create smarter living environments by integrating digitalization, automation, and people‑centered design.
- Uphold product quality, safety, and lifecycle service excellence for long‑term stakeholder value.
- Leadership in high‑end equipment: focus on heavy machinery, large rotating equipment, power plant systems, and industrial electrification.
- Technological innovation: accelerate R&D in digital twin, AI‑driven control systems, and advanced manufacturing to achieve industrial intelligence.
- Service industrialization: expand after‑sales, lifecycle asset management, and integrated solutions as core revenue streams.
- Green and low‑carbon transformation: deploy high‑efficiency thermal units, large‑scale renewables integration, and emissions reduction technologies.
- Human‑centered outcomes: design systems to improve living standards, safety, and well‑being in urban and industrial environments.
| Metric | Value (most recent fiscal year) | Notes |
|---|---|---|
| Revenue | RMB 86.0 billion | Consolidated operating revenue across equipment, services, and power assets |
| Net Profit (attributable) | RMB 2.4 billion | Net income after minority interests |
| Total Assets | RMB 125.0 billion | Includes fixed assets, inventories, and financial investments |
| R&D Spend | RMB 3.1 billion (≈3.6% of revenue) | Investment in advanced manufacturing, digital systems, and green tech |
| Installed Service & Maintenance Contracts | Over RMB 18.0 billion backlog | Recurring revenue from lifecycle services and O&M |
| Order Intake | RMB 92.5 billion | New contracts signed for equipment and power projects |
| Carbon Intensity Target | Reduce CO2 emissions intensity by 30% vs baseline (by 2030) | Aligned with national emissions peaking and carbon neutrality goals |
- R&D concentration: scaling labs and joint research with universities for turbines, grid‑scale inverters, and smart factory automation.
- Digitalization: deploying plant digital twins, predictive maintenance, and cloud‑based asset management to increase uptime and service margins.
- Green portfolio expansion: accelerating wind, solar, energy storage, and high‑efficiency thermal retrofit projects within product lines.
- Global footprint: targeted export of turnkey equipment and EPC services while deepening partnerships in Southeast Asia, Middle East, and Africa.
| Stakeholder | Primary Outcome | Quantifiable Target |
|---|---|---|
| Customers | Higher equipment availability and lifecycle cost savings | Increase service contract renewals by 15% over 3 years |
| Shareholders | Stable cash flow and earnings growth | Mid‑single digit EPS growth guidance annually |
| Environment | Lower emission intensity from deployed solutions | 30% reduction in CO2 intensity by 2030 (company target) |
| Employees | Skill upgrading and safer workplaces | Annual training hours per employee: 40+ hours |
Shanghai Electric Power Co., Ltd. (600021.SS) - Vision Statement
Shanghai Electric Power Co., Ltd. (600021.SS) envisions becoming a leading, green-oriented power enterprise that drives sustainable industrial transformation through technological leadership, customer-centered services, and broad-based stakeholder value creation. The vision emphasizes decarbonization, digitalization, and high-quality growth across thermal, wind, solar, and integrated energy services.- Strive for excellence - promote an engineering culture and craftsmen's spirit: dedication, meticulousness, and continuous improvement embedded in operations and asset management.
- Seek value innovation - leverage R&D, digital technologies, and clean-energy solutions to enable high-quality, low-carbon development.
- Pursue win-win cooperation - maintain openness, build partnerships across supply chains and finance, and share benefits with governments, customers, and communities.
- Put customer success first - align products and services to customer needs, deliver reliable power solutions, and co-create long-term value.
| Metric | Latest Reported Value | Unit / Notes |
|---|---|---|
| Annual Operating Revenue | RMB 89.6 billion | Fiscal year latest consolidated report |
| Net Profit (attributable) | RMB 2.4 billion | After tax, latest fiscal year |
| Total Assets | RMB 180.0 billion | Consolidated balance sheet |
| Equity Attributable to Shareholders | RMB 56.0 billion | Consolidated |
| Return on Equity (ROE) | 6.5% | Trailing 12 months |
| Installed Capacity Managed | ~45 GW | Thermal + renewables (group-managed portfolio) |
| R&D Investment | RMB 1.2 billion | Annual R&D expenditure |
| Employees | ~20,000 | Group-wide headcount |
| Market Capitalization | RMB 40.0 billion | Approximate exchange listing valuation |
- Engineering excellence: implementation of standardized O&M processes reduced forced outages by X% year-over-year in major thermal units; lifecycle management extended unit availability.
- Value innovation: targeted R&D and pilot projects in energy storage and digital dispatching; R&D spend supports product upgrades and grid-interactive solutions.
- Win-win cooperation: strategic partnerships with equipment manufacturers and financial institutions to co-invest in clean-energy projects, accelerating asset rollout and risk sharing.
- Customer success: customized energy services and integrated-solution contracts increased recurring service revenue and improved contract retention rates.
| Governance/KPI | Target / Practice |
|---|---|
| Carbon intensity reduction | Progressive reduction targets aligned with national decarbonization goals; investment in renewables and efficiency upgrades. |
| Safety & quality | Zero-tolerance safety protocols, regular craftsman training programs, and performance-based incentive systems. |
| Customer satisfaction | Service-level agreements (SLAs), Net Promoter metrics, and joint development pilots with large industrial customers. |
| Innovation pipeline | Pipeline management with stage-gates, annual R&D budget, and collaboration with universities and tech partners. |
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