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。 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 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 於本公告日期，本公司執行董事為吳磊博士、朱兆開先生及王晨皓先 生；本公司非執行董事為邵君先生及陸雯女士；本公司獨立非執行董 事為徐建新博士、劉運宏博士及杜朝輝博士。 证券代码：601727 证券简称：上海电气 编号：临 2025-049 上海电气集团股份有限公司 董事会五届一百一十四次会议决议公告 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。 上海电气集团股份有限公司（以下简称"公司"）于 2025 年 8 月 29 日在上海市四川中路 ...

上海电气集团股份有限公司 关于 2025 年上半年对上海电气集团财务有限 责任公司的风险持续评估报告 根据《上海证券交易所上市公司自律监管指引第 5 号——交易与 关联交易》的规定，上海电气集团股份有限公司（以下简称"公司"） 结合上海电气集团财务有限责任公司（以下简称"财务公司"）提供的 《金融许可证》、《营业执照》等有关证件资料，并审阅包括资产负债 表、利润表、现金流量表等在内的财务公司的定期财务报告，对财务 公司的经营资质、业务和风险状况进行了评估。具体情况报告如下： 一、财务公司基本情况 名称：上海电气集团财务有限责任公司 法定代表人：冯淳林 注册资本：人民币 30 亿元 股东结构（截至 2025 年 6 月 30 日）： | | 股东名称 | 持股比例 | | --- | --- | --- | | 1 | 上海电气集团股份有限公司 | 74.625% | | 2 | 上海电气香港有限公司 | 8% | | 3 | 上海电气控股集团有限公司 | 5% | | 4 | 上海电气集团香港有限公司（注） | 4.75% | | 5 | 上海机电股份有限公司 | 2.625% | | 6 | 上海汽轮机厂有 ...

上海电气集团股份有限公司 2025 年半年度报告 1 / 195 上海电气集团股份有限公司 2025 年半年度报告 重要提示 上海电气集团股份有限公司 2025 年半年度报告 公司代码：601727 公司简称：上海电气 十、重大风险提示 六、前瞻性陈述的风险声明 √适用 □不适用 本报告所涉及的未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质性承诺，请投资者 注意投资风险。 七、是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、是否存在违反规定决策程序对外提供担保的情况 否 九、是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 当前，公司日常生产经营面临来自国内外市场环境的重大风险包括：1、市场风险；2、原材料价格 波动风险；3、汇率波动风险；4、海外业务风险。公司已在本报告中详细描述可能存在的相关风险，敬 请查阅第三节管理层讨论与分析中"可能面对的风险"的内容。 十一、其他 □适用 √不适用 2 / 195 一、本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不存在虚假 记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、公 ...

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公告之內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴該等 內容而引致之任何損失承擔任何責任。 * 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） 本次投資者說明會以網絡互動形式召開，本公司將針對 2025 年上半年經營成果及財務指標的具體 情況與投資者進行互動交流和溝通，在信息披露允許的範圍內就投資者普遍關注的問題進行回答。 二、說明會召開的時間、地點 三、參加人員 本公司董事長吳磊博士 本公司副總裁、董事會秘書胡旭鵬博士 （股份代號: 02727） 自願性公告 召開 2025 年半年度業績說明會 本公告乃根據香港聯合交易所有限公司證券上市規則第 13.10B 條由上海電氣集團股份有限公司 （「本公司」）作出。 本公司於 2025 年 8 月 30 日在上海證券交易所網站（www.sse.com.cn）披露《上海電氣 2025 年半 年度報告》，為便於廣大投資者更全面深入地瞭解本公司 2025 年 ...

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公告之內容概不負責，對其準確性或 完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴該等 內容而引致之任何損失承擔任何責任。 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） 關於計提減值準備的公告 本公告乃上海電氣集團股份有限公司（「本公司」）根據《證券及期貨條例》（香港法例第 571 章）第 XIVA 部及香港聯合交易所有限公司證券上市規則第 13.09(2)(a)條和第 13.10B 條作出。 本公司於 2025 年 8 月 29 日召開了本公司董事會五屆一百一十四次會議，會議審議通過了《關於 公司 2025 年上半年計提減值準備的議案》，現將本次計提的具體情況公告如下： 一、計提減值準備情況概述 為客觀、公允地反映本公司 2025 年上半年財務狀況和經營狀況，按照《企業會計準則》的相關規 定，本公司對截至 2025 年 6 月 30 日的各類資產進行了減值測試，對存在減值跡象的資產計提減 值準備 ...

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公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 * 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） 二零二五年中期業績 業績摘要 上海電氣集團股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈本公司及其附屬 公司（「本集團」或「上海電氣」）截至二零二五年六月三十日止六個月（「報告期」）的 中期業績，該業績未經審核，但已經本公司審核委員會（「審核委員會」）審閱。本公司截 至二零二五年六月三十日止六個月中期業績根據中國企業會計準則編製。 - 1 - ► 二零二五年上半年營業總收入為人民幣543.03億元，較上年同期上升8.9% ► 二零二五年上半年股東應占利潤為人民幣8.21億元，較上年同期上升7.3% ► 二零二五年上半年基本每股收益人民幣0.053元，較上年同期上升8.2% ► 二零二五年上半年新增訂單人民幣1,098. ...

Core Viewpoint - Shanghai Electric Group Co., Ltd. held its 114th board meeting, where several key resolutions were passed regarding ESG committee changes, impairment provisions, and financial strategies for the upcoming period [1][2][3]. Group 1: ESG Management Committee Changes - Mr. Wei Xudong was elected as a member of the company's ESG Management Committee, replacing Mr. Jia Tinggang, with the term lasting until the current senior management's term ends [1]. Group 2: Impairment Provisions - The company approved a credit impairment loss provision of RMB 1,145.40 million for the first half of 2025, with a reversal of RMB 365.14 million. Additionally, an asset impairment loss provision of RMB 400.59 million was approved, with a reversal of RMB 236.65 million [1][2]. Group 3: Financial Strategies - The company agreed to provide a guarantee for its subsidiary, Shanghai Jiyou (Hong Kong) Investment Management Co., Ltd., for bank loans up to €90 million (approximately RMB 810 million), with a guarantee period not exceeding three years [2][3]. - The company plans to apply for the registration and issuance of debt financing instruments totaling RMB 10 billion, with a validity period of two years, to replace existing debts and for other approved uses [3][5]. - The board authorized the financial director to manage the issuance process, including determining the specifics of the debt instruments and handling related agreements and disclosures [5][6]. Group 4: Shareholder Meeting - The company approved the convening of the second extraordinary general meeting of 2025, with the board secretary responsible for the announcement and related arrangements [6].

Core Insights - Shanghai Electric reported a robust performance in the first half of 2025, with significant growth in revenue and net profit [1] Financial Performance - The company's operating revenue reached 54.303 billion yuan, representing a year-on-year increase of 8.99% [1] - Net profit attributable to shareholders was 0.821 billion yuan, up 7.32% [1] - After excluding non-recurring gains and losses, net profit surged by 122.89% to 0.546 billion yuan [1] Order Growth - Shanghai Electric achieved new orders totaling 109.81 billion yuan in the first half of 2025, marking a 31% year-on-year increase [1] Strategic Development - The company is advancing in strategic emerging industries and future industries, having established an initial industrial chain covering industrial robots, special robots, intelligent robots, and humanoid robots [1] - Commercial application testing has already commenced for these new technologies [1]

证券代码：601727 证券简称：上海电气 编号：临 2025-049 上海电气集团股份有限公司 董事会五届一百一十四次会议决议公告 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。 上海电气集团股份有限公司（以下简称"公司"）于 2025 年 8 月 29 日在上海市四川中路 110 号公司会议室以现场结合通讯方式召开 了公司董事会五届一百一十四次会议。应参加本次会议的董事 8 人， 实际参加会议的董事 8 人。本次会议由吴磊董事长主持，公司部分高 级管理人员列席了本次会议。会议符合有关法律、行政法规、部门规 章、规范性文件和《公司章程》的规定。会议审议并通过以下决议： 一、关于公司 ESG 管理委员会委员变动的议案 同意选举卫旭东先生担任公司 ESG 管理委员会委员，任期自董 事会审议通过之日起至本届高级管理人员履职届满之日止。贾廷纲先 生不再担任公司 ESG 管理委员会委员。 表决结果：8 票同意，0 票反对，0 票弃权。 表决结果：8 票同意，0 票反对，0 票弃权。 二、关于公司 2025 年上半年计提减值准备的议案 ...

Financial Performance - Total operating revenue for the first half of 2025 reached CNY 54,303,335 thousand, an increase of 8.89% compared to CNY 49,868,517 thousand in the same period last year[17]. - Net profit attributable to shareholders was CNY 820,752 thousand, reflecting a growth of 7.32% from CNY 764,798 thousand year-on-year[17]. - Basic earnings per share rose to CNY 0.053, an increase of 8.16% from CNY 0.049 in the same period last year[18]. - The weighted average return on equity increased to 1.53%, up by 0.16 percentage points from 1.37% year-on-year[18]. - The company achieved total revenue of RMB 54.303 billion, an increase of 8.9% year-on-year[33]. - The gross profit margin for the reporting period was 19.0%[33]. - New orders totaled RMB 109.81 billion, with energy equipment orders at RMB 60.04 billion and industrial equipment orders at RMB 22.82 billion[33]. Cash Flow and Assets - The company reported a significant increase in net cash flow from operating activities, amounting to CNY 1,568,155 thousand, compared to a negative cash flow of CNY -240,739 thousand in the previous year[17]. - The company’s cash flow from operating activities showed a net increase to RMB 1.568 billion, a significant improvement from a net outflow of RMB -240,739 in the first half of 2024[152]. - The company’s total assets include RMB 3.7873 billion in cash and cash equivalents, representing 12.10% of total assets, an increase of 16.29% from the previous year[67]. - The total amount of financial assets measured at fair value at the end of the period was RMB 19,274,910 thousand, reflecting various changes in value during the reporting period[73]. - The company’s total assets amounted to RMB 312,900,090 thousand, an increase from RMB 302,504,988 thousand as of December 31, 2024, reflecting a growth of approximately 1.46%[139]. Market Expansion and Strategic Initiatives - The company is actively pursuing market expansion and has completed the acquisition of 100% equity in Shanghai Ningsheng Industrial Co., Ltd. from its controlling shareholder[18]. - The company is actively developing new energy equipment such as "wind-solar-storage-hydrogen" solutions to align with the national "dual carbon" strategy[32]. - The company is focusing on the integration of digital technologies to enhance automation and intelligence across its operations[37]. - The company is committed to providing comprehensive lifecycle services for high-end equipment, reinforcing its market position in industrial automation[25]. - The company is exploring new coal power low-carbon transformation directions, including biomass co-firing and carbon capture technologies[30]. Risks and Challenges - The company faces significant risks including market fluctuations, raw material price volatility, and foreign exchange risks, which are detailed in the management discussion section[4]. - The company is facing pressures on overseas projects due to rising labor and material costs, influenced by macroeconomic conditions and geopolitical uncertainties[79]. - The company plans to strengthen its foreign exchange risk management by increasing the use of hedging tools and expanding cross-border trade settlements in RMB to control costs and mitigate adverse effects from currency fluctuations[80]. Research and Development - Research and development expenses rose to CNY 2,545,795, compared to CNY 2,327,462, marking a 9.4% increase year-over-year[147]. - The company is focusing on high-level technological self-reliance and innovation, collaborating with top universities to enhance its research and development capabilities[41]. - The company has successfully launched a "1.1MW/10.8MWh multi-energy thermal storage green steam system," marking a significant breakthrough in multi-energy storage technology for industrial low-carbon transformation[39]. Corporate Governance and Commitments - The controlling shareholder, Electric Holdings, committed to ensuring the independence of the company in personnel, assets, finance, and operations since 2015[89]. - Electric Holdings promised to avoid competition with the company, ensuring complete separation in business, assets, personnel, and finance since 2008[89]. - The company has received assurances from Electric Holdings regarding the clarity of asset ownership in land and equity assets since 2016[89]. - The company guarantees that the prospectus submitted for Electric Wind Power's IPO does not contain false records or misleading statements, and it will bear legal responsibility for its accuracy[90]. Shareholder Information - The largest shareholder, Shanghai Electric Holding Group Co., Ltd., holds 6,400,435,385 shares, representing 41.08% of the total shares[130]. - The total number of ordinary shareholders as of the end of the reporting period was 704,385[128]. - The company has not reported any significant changes in its share capital structure during the reporting period[125]. Financial Instruments and Accounting Policies - The company continues to adhere to the accounting standards set by the Ministry of Finance, ensuring accurate financial reporting[167]. - The financial statements are prepared on a going concern basis, indicating the company's ongoing operational viability[169]. - Significant impairment provisions for accounts receivable are recognized when they exceed 2.0% of the total original value of accounts receivable and contract assets[174].