Core Viewpoint - The multinational acquisition deal involving Shanghai Electric and KES Energy, valued at approximately $1.77 billion, has been terminated after nine years of negotiations due to unmet conditions and changes in the business environment in Pakistan [2][4]. Group 1: Acquisition Process and Termination - The acquisition process began in August 2016, with the National Development and Reform Commission confirming the project [3]. - Throughout 2017 and 2018, Shanghai Electric and KES Energy established a transitional management committee to facilitate the deal, while also preparing for the acquisition by improving KE's operational and technical management [3]. - In 2018, changes in the pricing mechanism by Pakistan's National Electric Power Regulatory Authority significantly impacted KE's profitability and valuation, leading to a renegotiation of the deal [3]. - Ultimately, on September 9, 2023, Shanghai Electric decided to terminate the acquisition due to the failure to meet the closing conditions and the unsuitability of the deal for the company's international development strategy [4]. Group 2: Company Performance and Future Plans - As of June 30, 2025, Shanghai Electric's installed capacity reached 25.8013 million kilowatts, with clean energy accounting for 61.83% of the total capacity [5]. - The company's stock price has increased by 133.90% this year, and its half-year report for 2025 showed total revenue of 20.475 billion yuan, a year-on-year increase of 1.76%, and a net profit of 1.909 billion yuan, up 43.85% year-on-year [5]. - Despite the challenges with the KE acquisition, Shanghai Electric has demonstrated its capability in overseas project development, being a major player in Japan and Hungary [5]. - The company has made significant progress in international projects, including the successful completion of the Fukushima Phase II solar project and ongoing developments in Serbia, Romania, and Greece [6]. - Shanghai Electric is also expanding its clean energy projects domestically, with several wind and solar projects achieving full capacity [6]. - Recent investment decisions include a 500,000-kilowatt offshore solar project in Shanghai and a 400,000-kilowatt wind project in Heilongjiang, with total investments not exceeding 3.78 billion yuan and 2.261 billion yuan, respectively [6].