Shanghai Electric Named One of China's 500 Most Valuable Brands by World Brand Lab

SHANGHAI,June 27,2023 -- Shanghai Electric (SEHK:2727,SSE:601727) ("the Company") has been recognized as one of China's 500 Most Valuable Brands,according to an annual list published by World Brand Lab,a world's leading research institute specializing in digital marketing and brand valuation. The 2023 edition of the report,which gauges companies' brand status based on their financial data,brand strength,and consumer behavior,shows that Shanghai Electric holds the 48th position with a brand value of RMB 172.58 billion (USD 23.99 billion),marking the seventh consecutive year that the Company made it to the Top 50.

Shanghai Electric Named One of China's 500 Most Valuable Brands by World Brand Lab.

"The ranking once again attests to Shanghai Electric's commitment to technological innovation as the cornerstone of the Company. We view innovation as the driving force behind our rapid development,strengthening our competitiveness as a green-focused company while exploring technological breakthroughs to empower China and beyond to achieve low-carbon targets. Meanwhile,we also place openness and win-win cooperation at the core of our business strategy as we endeavor to bring more value to our partners and accelerate global industrial development," said Liu Ping,President of Shanghai Electric.

"As we strive to catalyze the innovation of China's high-end equipment industry,Shanghai Electric has established itself as a key player on the global stage. Over the past few years,we have participated in over 100 power engineering products under the Belt and Road initiative,exploring effective and efficient construction and management models and experience that refine our expertise and equip us with industry-leading solutions," he added.

Leveraging Green Innovation to Decarbonize Industries

Taking the forefront in driving sustainable growth for the energy and industrial sectors,Shanghai Electric is committed to advancing the development of new power systems and zero-carbon industrial park solutions with the aim to help its customers and partners in reducing carbon emissions. Moreover,Shanghai Electric is actively expanding and diversifying its solution portfolios,facilitating partners in their transition towards greener power sources.

In partnership with the municipal government of Nantong City,Shanghai Electric has established Hengxi Photovoltaic Technology Co.,Ltd as a springboard to propel Nantong's new energy industry to greater heights. The new company will be instrumental in forming a photovoltaic industry cluster and strengthening the synergy of the solar sector of the city,with the initial phase of the project set to have a production capacity of 4.8 GW for high-efficiency heterojunction (HJT) solar cells and modules.

Armed with seventy years of experience in industrial design,the Shanghai Institute of Mechanical & Electrical Engineering (SIMEE) plays a pivotal role in driving low-carbon development by delivering solutions that help its partners and customers trim down their carbon emissions. The institute,which has clinched over 300 national and provincial awards,holds over 110 patents and invests RMB 100 million in its R&D initiatives for upgrading manufacturing processes,equipment development,and the formulation of new design standards. Volkswagen's Changsha factory designed by the institute has been granted China's Green Building Label Certificate for achieving the highest green standards and adopting BIM design management for the entire process.

As the fourth industrial revolution fuels innovations in IoT,big data,robotics,and AI to drive low-carbon production,Shanghai Electrics also harnesses its technological prowess in these fields to provide intelligent manufacturing automation solutions for industries such as lithium batteries,aerospace,automobiles,and security. Shanghai Electric's lithium battery production line achieves 30% energy savings and a 60% cost reduction,while its aviation automation solutions,which encompass industry-leading lithium battery production equipment,industrial robots,and aerospace automation systems,provide one-stop services for building smart factories.

Pushing for Power Revolution with Win-Win Cooperation

For decades,Shanghai Electric is pioneering global energy innovation to drive green development for the power sector,bringing both economic and social benefits for users worldwide with its solutions that unlock new possibilities.

2023 marks a new milestone as the Company has completed a 168-hour trial operation of the 660 MW coal-fired power station unit 2 in the Yanghuopan coal-electricity integration project. Designed by Shanghai Electric–SPX Engineering & Technologies Co.,Ltd.,the project is the first of its kind powered by natural ventilation direct cooling (NDC) system which delivers exceptionally better performance in terms of energy efficiency,emissions reduction,noise reduction,frost resistance,and operational flexibility compared with mechanical ventilation direct cooling (ACC) and natural ventilation indirect cooling (ISC) systems.

Shanghai Electric Power Engineering Company has been selected as the general contractor for Phase I and Phase II projects of the renewable energy power station in Selangor,Malaysia. A key project commissioned by the state's government to boost the local economy while enhancing the well-being of residents,the station is capable of processing 2,900 tons of waste per day,as well as helping decontaminate and reuse half of the solid waste generated within the state.

In the UK,the 20.8 MW Low Farm project,the seventh installment among a series of eight photovoltaic projects in the country constructed by Shanghai Electric,has been connected to the grid,contributing to the UK's renewable energy capacity and supporting the country's efforts in transitioning towards a greener and more sustainable future. The official operation of the project reinforces Shanghai Electric's position as a leader in the global new energy market and showcases its capability in building large-scale photovoltaic projects in the Western markets that uphold high standards of quality for infrastructure construction.

About Shanghai Electric

Shanghai Electric Group Company Limited (SEHK:2727,SSE:601727),a leading global supplier of industrial-grade eco-friendly smart system solutions with a presence around the world,is dedicated to smart energy,intelligent manufacturing,and the integration of digital intelligence. With the focus on low-carbon development and digital transformation by opening up new arenas and promoting new growth drivers,Shanghai Electric will strive to be a leader in the pursuit of peak carbon dioxide emissions before 2030 and achieve carbon neutrality before 2060,new energy equipment production,and high-end equipment localization,utilizing the boundless opportunities in an innovative industrial ecosystem along with global partners.

For more information,please visit https://www.shanghai-electric.com/group_en/