Accelerated deployment of green energy and industrial AI technologies, with project progress in European and Middle Eastern markets
SHANGHAI, Sept. 15, 2026 /PRNewswire/ -- Shanghai Electric (SEHK: 02727, SSE: 601727) has released its interim results for the first half of 2026. During the reporting period, it achieved operating revenue of CNY 63.332 billion (USD 9.17 billion), up 16.6% year-on-year; net profit attributable to shareholders of the listed company reached CNY 970 million (USD 140.49 million), an increase of 18.2%; and new orders totaled CNY 100.39 billion (USD 14.54 billion), marking further progress in energy transition, high-end intelligent manufacturing, and international expansion.
Sustained momentum across three business pillars, with orders providing long-term visibility
Shanghai Electric's Energy Equipment segment posted revenue of CNY 36.558 billion (USD 5.29 billion), up 21.4% year-on-year, driven by growth in its wind power and energy storage businesses. The Industrial Equipment segment generated CNY 18.954 billion (USD 2.75 billion) in revenue, a 1.9% increase, as digital and smart technologies reinforced its position in machine tools, elevators, and industrial components. The Integrated Services segment achieved revenue of CNY 10.862 billion (USD 1.57 billion), up 31.5%. The segment continued to strengthen its capabilities in supply chain coordination, customized solutions, and full-lifecycle services.
Of the new orders, Energy Equipment accounted for CNY 64.24 billion (USD 9.30 billion)-including CNY 12.39 billion (USD 1.79 billion) for wind power equipment, CNY 11.44 billion (USD 1.66 billion) for energy storage equipment, CNY 4.57 billion (USD 661.91 million) for nuclear power equipment, and CNY 20.23 billion (USD 2.93 billion) for coal-fired power generation equipment. New orders for Industrial Equipment and Integrated Services stood at CNY 21.25 billion (USD 3.08 billion) and CNY 14.91 billion (USD 2.16 billion), respectively.
Advancing overseas project expansion and localized operations
During the reporting period, Shanghai Mitsubishi Elevator secured the contract for the Dubai Palm Island Phase II project, supplying 700 high-end elevators and related services.
Marking its first large-scale entry into Europe's high-end market, Shanghai Electric's power transmission and distribution business won a contract to supply high- and low-voltage switchgear for a hyperscale data center in Finland.
The company also signed a contract for the Minety Phase II Stonehill Energy Storage Project (50 MW/150 MWh) in the UK, further reinforcing its strategic footprint in the European premium energy storage market.
Shanghai Electric has established a "1+N+6" international business management network, with newly opened regional headquarters in Central Asia, Southeast Asia, and the Middle East and North Africa driving global business synergy and strengthening localized operations across key markets.
Technology- and innovation- driven strategy breaks new ground in green energy and high-end manufacturing
In green fuels, the company's proprietary "green power + biomass gasification to green methanol" full-chain technology, validated in Jilin's Taonan project, has secured the EPC contract for the Lanzhou New Area 100,000-ton/year biomass green methanol project (Phase I), now under construction.
In new energy and high-end equipment, the company has mastered key nuclear equipment manufacturing and testing technologies, with offshore wind orders exceeding 2 GW. The company also contributed to the full commissioning of the Huai'an Salt Cavern Compressed Air Energy Storage Project-the world's largest.
In industrial intelligence, the "SUYUAN 2.0" humanoid robot made its domestic debut, with over 40 AI agents deployed across R&D, production, and maintenance. The SEunicloud Industrial Internet Platform has connected about 1.16 million devices and developed over 60 industry-specific digital solutions.
Looking ahead, Shanghai Electric will focus on coordination and efficiency, international expansion, and digitalization to advance the high-end, intelligent, green, and integrated development of its businesses.
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