Shanghai Electric's New Partnership Agreement at WAIC 2021 Set to Upgrade and Transform Industries with Digital Empowerment

SHANGHAI,July 26,2021 --Shanghai Electric ("Shanghai Electric" or "the Company") (601727.SS and 02727.HK) shared the same stage with global companies for the Industry Intelligence Conference at the World Artificial Intelligence Conference 2021(WAIC 2021) in Shanghai recently to discuss the benefits of industry intelligence and digital transformation. The annual Shanghai-based tech fest invites tech gurus and industry insiders to unlock insights,analysis and trends to shed light on topics such as staying ahead of change,supporting industries in AI integration,helping global elites and leaders to make better-informed decisions in an era defined by ever-evolving digital technologies.

At WAIC 2021,Shanghai Electric also reached a strategic partnership agreement with companies involved in the AI Investment Fund,which was launched in 2019 as part of an initiative of the Shanghai municipal government to support the city's pledge to build a "first-class AI innovation ecosystem." The cooperation will see Shanghai Electric providing digital solutions to facilitate the upgrade and transformation of smart factories,industrial parks and medical institutions in Shanghai.

During an Industry Intelligence Conference panel discussion,Ms. Yang Hong,Vice President of Shanghai Electric,said that the meaning of digital transformation rests on its tremendous potential in boosting efficiency and product quality and reducing operational expense. She emphasized that digital transformation is the best solution to help industries unblock bottlenecks when facing pressing challenges in terms of minimizing emissions and waste,maintaining low unit costs while ensuring high suitability.

"Shanghai Electric has a long history of innovating energy technologies and creating significant value for the entire industry. We have witnessed ourselves making countless zero-to-one technological breakthroughs and going through a metamorphosis to becoming a world-class enterprise with excellence and perfection at the center of our mission and vision," said Yang Hong.

"The industrial world is in the midst of transformation. As a future-focused tech company,Shanghai Electric embraces the Industrial Internet to create new digital solutions to help our partners seize the opportunity of tomorrow. With digital twins,artificial intelligence and big data technologies,Shanghai Electric aims to upgrade internal industrial production in an effort to refine our solutions for our partners,carving out a development path that will empower the future of the entire energy industry," she added.

In recent years,Shanghai Electric's efforts in driving forward the digital transformation of the energy sector have achieved multiple milestones. In June 2021,the company ranked 9th on the list of "2021 TOP100 Chinese companies promoting China's Digital Transformation" with an overall score of 85.42,according to Internet Weekly,a magazine managed by the Chinese Academy of Sciences. Shanghai Electric's Industrial Internet platform SEunicloud has now also been widely deployed in the wind power,gas turbine and other energy fields.

Since the launch of SEunicloud in 2019,the platform has improved through several updates. In late 2020,Shanghai Electric unveiled SEunicloud 2.0 featuring major improvements in terms of the integration of Artificial Intelligence (AI),Business Intelligence (BI),and Creative Intelligence (CI). The 2.0 version is equipped with a new AI big data module capable of displaying data value and providing business analysis for a multitude of industrial scenarios,coupled with an upgraded BI module that enables fast data processing and intelligent analysis by navigating through huge datasets.

An agreement was inked between Shanghai Electric and Siemens Energy in June 2021,under which the pair will launch smart energy empowerment to support the development of smart energy in Shanghai. Located in Minhang District,the center will empower local power stations,small-and-medium-sized enterprises and the community with solutions – such as smart power plants,smart O&E,smart manufacturing and energy management system – that are aimed at bolstering Shanghai's digital transformation while reducing the urban carbon footprint.