Shanghai Electric revenue grows 16 6 percent in H1 2026

Shanghai Electric reported a 16.6% year-on-year increase in operating revenue for the first half of 2026, reaching CNY 63.332 billion (USD 9.17 billion). Net profit attributable to shareholders rose 18.2% to CNY 970 million (USD 140.49 million). New orders totaled CNY 100.39 billion (USD 14.54 billion), reflecting progress in energy transition, high-end intelligent manufacturing, and international expansion.

The Energy Equipment segment saw revenue growth of 21.4% to CNY 36.558 billion (USD 5.29 billion), propelled by wind power and energy storage businesses. Industrial Equipment generated a modest 1.9% increase to CNY 18.954 billion (USD 2.75 billion), bolstered by digital technologies in machine tools, elevators, and industrial components.

The Integrated Services segment experienced the largest growth at 31.5%, reaching CNY 10.862 billion (USD 1.57 billion) through supply chain coordination, customized solutions, and full-lifecycle services.

New orders for Energy Equipment totaled CNY 64.24 billion (USD 9.30 billion), including significant investments in wind power (CNY 12.39 billion), energy storage (CNY 11.44 billion), nuclear power (CNY 4.57 billion), and coal-fired power generation (CNY 20.23 billion). Industrial Equipment orders amounted to CNY 21.25 billion (USD 3.08 billion), while Integrated Services received CNY 14.91 billion (USD 2.16 billion).

Geographically, Shanghai Mitsubishi Elevator secured the Dubai Palm Island Phase II project, supplying 700 high-end elevators. The company also won a contract to provide high- and low-voltage switchgear for a hyperscale data center in Finland. In the UK, Shanghai Electric secured the Minety Phase II Stonehill Energy Storage Project (50 MW/150 MWh), further establishing its presence in Europe's premium energy storage market.

Shanghai Electric's international business network expanded with regional headquarters in Central Asia, Southeast Asia, and the Middle East and North Africa. Technologically, the company advanced green energy with its "green power + biomass gasification to green methanol" technology, securing an EPC contract for a biomass green methanol project in Lanzhou.

In new energy and high-end equipment, they mastered nuclear equipment manufacturing and testing, contributing to the world's largest compressed air energy storage project in Huai an salt cavern. Domestically, they launched the humanoid robot "SUYUAN 2.0" and connected 1.16 million devices via the SEunicloud Industrial Internet Platform.

Shanghai Electric plans to focus on coordination, efficiency, international expansion, and digitalization to drive high-end, intelligent, green, and integrated development across its businesses.