证券代码：601727 证券简称：上海电气 公告编号：临 2025-053 上海电气集团股份有限公司 关于召开2025年第二次临时股东会的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、 召开会议的基本情况 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 9 月 22 日 14 点 00 分 召开地点：中国上海市浦东大道 2748 号上海电气培训基地报告厅 股东会召开日期：2025年9月22日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 (一)股东会类型和届次 2025年第二次临时股东会 (二)股东会召集人：董事会 (三)投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合的方 式 至2025 年 9 月 22 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过互联网 投票平台的投票时间为股东会召开当日的 9:15-15:00。 ( ...

Market Overview - The Shanghai Composite Index rose by 0.46% on September 1, with 24 out of the 28 sectors experiencing gains, led by the communication and comprehensive sectors, which increased by 5.22% and 4.27% respectively [2] - The power equipment sector saw a modest increase of 0.63% [2] - The non-bank financial and banking sectors were the biggest losers, declining by 1.28% and 1.03% respectively [2] Capital Flow Analysis - The main capital flow showed a net outflow of 51.3 billion yuan across the two markets, with 8 sectors experiencing net inflows [2] - The pharmaceutical and biological sector led the net inflows, gaining 2.79% with a net inflow of 3.475 billion yuan, followed by the communication sector with a 5.22% increase and a net inflow of 1.291 billion yuan [2] - The non-bank financial sector had the largest net outflow, totaling 8.079 billion yuan, followed by the computer sector with a net outflow of 7.010 billion yuan [2] Power Equipment Sector Performance - The power equipment sector had 361 stocks, with 215 stocks rising and 135 stocks declining; 5 stocks hit the daily limit up [3] - Among the stocks with net inflows, Guoxuan High-Tech led with a net inflow of 248 million yuan, followed by Tongwei Co. and Xingyuan Material with inflows of 139 million yuan and 120 million yuan respectively [3] - The sector experienced a total net outflow of 6.875 billion yuan, with 23 stocks seeing significant outflows; the largest outflows were from XianDai Intelligent, CATL, and Shanghai Electric, with outflows of 822 million yuan, 680 million yuan, and 643 million yuan respectively [3][5] Notable Stocks in Power Equipment Sector - Top gainers in the power equipment sector included: - Guoxuan High-Tech: +10.01% with a turnover rate of 9.34% and a main capital flow of 248.36 million yuan [4] - Tongwei Co.: +2.50% with a turnover rate of 3.39% and a main capital flow of 139.00 million yuan [4] - Xingyuan Material: +4.26% with a turnover rate of 13.84% and a main capital flow of 119.89 million yuan [4] - Top losers included: - XianDai Intelligent: -14.62% with a main capital outflow of 822.31 million yuan [5] - CATL: -0.71% with a main capital outflow of 679.60 million yuan [5] - Shanghai Electric: -0.79% with a main capital outflow of 643.24 million yuan [5]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 上海電氣集團股份有限公司 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02727 | 說明 | 不適用 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,924,482,000 | RMB | | | 1 RMB | | 2,924,482,000 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 2,924,482,000 | RMB | | | 1 RMB | | 2,924,482,000 | | ...

Group 1 - The core viewpoint of the article highlights Shanghai Electric's strong performance in the first half of 2025, with significant growth in revenue and profit driven by favorable coal power policies and increased orders in energy equipment [2] - In the first half of the year, Shanghai Electric achieved operating revenue of 54.303 billion yuan, a year-on-year increase of 8.89%, and a net profit attributable to shareholders of 0.821 billion yuan, up 7.32% [2] - The company reported a substantial increase in non-recurring net profit, reaching 0.546 billion yuan, which represents a year-on-year growth of 122.89% [2] Group 2 - Shanghai Electric secured new orders totaling 109.81 billion yuan during the reporting period, with energy equipment orders amounting to 60.04 billion yuan, including 20.08 billion yuan for coal-fired power equipment, 6.77 billion yuan for nuclear power equipment, 13.90 billion yuan for wind power equipment, and 7.46 billion yuan for energy storage equipment [2] - The company is focused on transforming its core industries towards high-end and intelligent solutions, aligning with national strategies and seizing new opportunities in energy development [2] - Shanghai Electric aims to enhance its technological innovation and management practices to foster new growth momentum and optimize its industrial structure [2] Group 3 - Shanghai Electric is recognized as a global leader in providing industrial-grade green intelligent system solutions, focusing on three core sectors: energy equipment, industrial equipment, and integrated services [3] - The company is committed to delivering green, environmentally friendly, intelligent, and interconnected technology integration and system solutions to global customers [3]

Core Insights - Shanghai Electric reported a total revenue of 54.303 billion yuan for the first half of 2025, representing an 8.89% year-on-year increase, while the net profit attributable to shareholders was 0.821 billion yuan, up 7.32% year-on-year [1] - The second quarter revenue reached 32.058 billion yuan, a 9.48% increase year-on-year, but the net profit for the same period decreased by 18.17% to 0.528 billion yuan [1] - The company's accounts receivable is notably high, with accounts receivable amounting to 4,981.12% of the latest annual net profit [1] Financial Performance - Gross margin stood at 18.6%, down 1.21% year-on-year, while net margin decreased by 5.37% to 3.79% [1] - Total selling, administrative, and financial expenses were 5.224 billion yuan, accounting for 9.62% of revenue, a decrease of 3.18% year-on-year [1] - Earnings per share (EPS) was 0.05 yuan, an increase of 8.16% year-on-year, and operating cash flow per share was 0.1 yuan, a significant increase of 751.39% year-on-year [1] Debt and Cash Flow - The company has a healthy cash position, with cash assets amounting to 37.873 billion yuan, an 11.06% increase year-on-year [1] - The ratio of cash assets to current liabilities is 33.06%, and the average operating cash flow over the past three years relative to current liabilities is 8.34% [3] Investment and Market Position - The company's return on invested capital (ROIC) was 2.41%, indicating weak capital returns, with a historical median ROIC of 4.73% over the past decade [1][2] - The company has experienced two years of losses since its IPO, suggesting a fragile business model [1] Fund Holdings - The largest fund holding Shanghai Electric is the Huatai-PineBridge CSI Shanghai State-Owned Enterprises ETF, with 42.0443 million shares, indicating increased investment [4] - Other funds have also entered the top ten holdings, reflecting growing interest in the company [4]

Group 1 - The core viewpoint of the article is that Shanghai Electric (601727.SH) reported its mid-year results for 2025, showing positive growth in revenue and net profit [1] - The company achieved a total operating revenue of 54.303 billion yuan, representing a year-on-year increase of 8.89% [1] - The net profit attributable to shareholders of the parent company was 0.821 billion yuan, reflecting a year-on-year growth of 7.32% [1] - The basic earnings per share were reported at 0.053 yuan [1]

Core Viewpoint - Shanghai Electric Group Co., Ltd. reported a significant increase in operating revenue and gross profit during the reporting period, driven by favorable coal and electricity policies [2] Group 1: Company Overview - Shanghai Electric's wholly-owned subsidiary, Shanghai Electric Automation Group Co., Ltd., acquired 100% equity of Shanghai Ning Sheng Industrial Co., Ltd. from Electric Holdings for cash [1] - The acquisition is classified as a business combination under common control, with the net profit of Ning Sheng Industrial included in non-operating income for the year 2024 [1] Group 2: Financial Performance - The company achieved a year-on-year increase in both operating revenue and gross profit during the reporting period [2] - The company reported a total of RMB 1,422,851.5 million in external guarantees, accounting for 26.8% of the net assets attributable to shareholders as of 2024 [10] Group 3: Significant Events - The company’s subsidiary, Shanghai Jiyou Mingyu Machinery Technology Co., Ltd., plans to provide a loan guarantee of up to €90 million (approximately RMB 81 million) for its wholly-owned subsidiary, Shanghai Jiyou (Hong Kong) Investment Management Co., Ltd. [4][9] - The board of directors approved the loan guarantee proposal, which will be submitted for shareholder approval due to the subsidiary's asset-liability ratio exceeding 70% [6][9] Group 4: Impairment Provisions - The company recognized credit impairment losses of RMB 114,540 million and asset impairment losses of RMB 40,059 million for the first half of 2025, impacting pre-tax profit by a net reduction of RMB 94,420 million [20][30] - The credit impairment losses primarily stemmed from bad debts related to accounts receivable and other receivables [20][26] - The asset impairment losses were mainly due to inventory write-downs and contract asset impairments [23][27]

Core Insights - Shanghai Electric reported a total revenue of RMB 54.303 billion for the first half of 2025, representing an increase of 8.9% compared to the same period last year [1] - The company's profit attributable to shareholders for the same period was RMB 0.821 billion, up by 7.3% year-on-year [1] - Basic earnings per share for the first half of 2025 were RMB 0.053, reflecting an increase of 8.2% compared to the previous year [1]

Core Viewpoint - Shanghai Electric (601727)(02727) reported a total operating revenue of 54.303 billion yuan for the six months ending June 30, 2025, representing an 8.9% year-on-year increase [1] - The company's net profit attributable to shareholders was 821 million yuan, up 7.3% year-on-year, with basic earnings per share at 0.053 yuan [1] Financial Performance - Total operating revenue reached 54.303 billion yuan, marking an 8.9% increase compared to the previous year [1] - Net profit attributable to shareholders was 821 million yuan, reflecting a 7.3% year-on-year growth [1] - Basic earnings per share stood at 0.053 yuan [1] Order Book - The company secured new orders totaling 109.81 billion yuan during the reporting period [1] - Breakdown of new orders includes: - Energy equipment: 60.04 billion yuan (comprising coal-fired power equipment at 20.08 billion yuan, nuclear power equipment at 6.77 billion yuan, wind power equipment at 13.9 billion yuan, and energy storage equipment at 7.46 billion yuan) [1] - Industrial equipment: 22.82 billion yuan [1] - Integrated services: 26.95 billion yuan [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本文件的內容概不負責，對其準確性 或完整性亦不發表任何聲明，且表明不會就本文件全部或任何部分內容或因倚賴該等內容而引 致的任何損失承擔任何責任。 以下爲上海電氣集團股份有限公司於上海證券交易所刊發之公告。 上海電氣集團股份有限公司 二零二五年八月二十九日 Shanghai Electric Group Company Limited 上海電氣集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：02727） 海外監管公告 证券代码：601727 证券简称：上海电气 公告编号：临 2025-051 上海电气集团股份有限公司 关于控股子公司提供对外担保的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： | 担保 | 被担保人名称 | | 上海集优（香港）投资管理有限公司 | | --- | --- | --- | --- | | | 本次担保金额 | 9,000 | 万欧元（折合约人民币 万元） 81,000 | | 对象 | 实际为其提供的 ...