Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Shanghai Electric Group Company Limited    2727   CNE100000437

SHANGHAI ELECTRIC GROUP COMPANY LIMITED

(2727)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

Shanghai Electric : ANNOUNCEMENT IN RELATION TO THE COMMENCEMENT OF EXCHANGE PERIOD OF THE NON-PUBLIC ISSUANCE OF EXCHANGEABLE CORPORATE BONDS OF THE CONTROLLING SHAREHOLDER

07/29/2020 | 05:05am EST

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

*

SHANGHAI ELECTRIC GROUP COMPANY LIMITED

上海電氣集團股份有限公司

(A joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 02727)

ANNOUNCEMENT IN RELATION TO THE COMMENCEMENT OF EXCHANGE PERIOD OF THE NON-PUBLIC ISSUANCE OF EXCHANGEABLE CORPORATE BONDS OF THE CONTROLLING SHAREHOLDER

This announcement is made by the board of directors of Shanghai Electric Group Company Limited (the "Company") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"), Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) and with reference to Rule 13.10B of the Listing Rules.

References are made to the announcements of the Company dated 2 July 2018 in relation to the proposed non-public issuance of exchangeable corporate bonds (the "Exchangeable Bonds") by Shanghai Electric (Group) Corporation ("SEC"), the controlling shareholder of the Company; the announcement of the Company dated 9 January 2020 in relation to the No Objection Letter of the Exchangeable Bonds obtained by SEC and SEC's completion of application to pledge 1,120,000,000 A shares of the Company (representing 7.39% of the Company's total issued share capital); the announcement of the Company dated 17 January 2020 in relation to the completion of registration procedures for the share pledge on 15 January 2020 and the completion of transfer of the 1,120,000,000 A shares (the "Pledged Shares") to "Shanghai Electric (Group) Corporation-Shanghai Electric (Group) Corporation 2020 Non- Public Offering of Exchangeable Corporate Bonds (Phase 1) Designated Shares Pledge Account" (the "Share Pledge"); and the announcement of the Company dated 20 January 2020 in relation to the supplemental information of the Share Pledge; and the announcement of the Company dated 4 February 2020 in relation to the successful issuance of the Exchangeable Bonds (Phase 1). Terms defined in the abovementioned announcements shall have the same meaning when used herein unless the context herein requires otherwise.

The target shares of the Exchangeable Bonds (Phase 1) are A shares of the Company and the offering size is RMB4 billion with a term of 3 years and a coupon rate of 0.10%. According to

- 1 -

the relevant regulations and the Prospectus of Shanghai Electric (Group) Corporation 2020 Non-Public Offering of Exchangeable Corporate Bonds (Phase 1) (to Qualified Investors), the exchange period of "20 Electric EB" commences from 3 August 2020 to 3 February 2023 (in the event of a statutory holiday or a weekend, it will be extended to the next workday thereafter).

As of the date of this announcement, SEC holds 8,662,879,405 A shares of the Company, accounting for 57.17% of the total share capital of the Company, and holds 313,642,000 H shares of the Company directly or through its wholly-owned subsidiary Shanghai Electric Group Hong Kong Company Limited, accounting for 2.07% of the total share capital of the Company. SEC holds 59.24% of the total share capital of the Company in aggregate and is the controlling shareholder of the Company. 1,120,000,000 A shares of the Company, representing 7.39% of the total share capital, has been pledged by SEC for the Exchangeable Bonds (Phase 1). Whether the holders of the Exchangeable Bonds (Phase 1) choose to conduct shares exchange and the actual number of exchanges are uncertain. Assuming that all Exchangeable Bonds (Phase 1) held by bondholders are exchanged into the Company's shares (the number of shares to be exchanged accounts for 5.22% of the Company's total share capital), the Company's controlling shareholder and actual controller will be kept unchanged.

The Company will pay close attention to the exchange status of the "20 Electric EB", and will fulfill the obligation of information disclosure in accordance with relevant laws and regulations.

By order of the Board

Shanghai Electric Group Company Limited

ZHENG Jianhua

Chairman of the Board

Shanghai, the PRC, 29 July 2020

As at the date of this announcement, the executive directors of the Company are Mr. ZHENG Jianhua, Mr. HUANG Ou, Mr. ZHU Zhaokai and Mr. ZHU Bin; the non-executive directors of the Company are Ms. YAO Minfang and Ms. LI An; and the independent non-executive directors of the Company are Dr. CHU Junhao, Dr. XI Juntong and Dr. XU Jianxin.

* For identification purpose only

- 2 -

Disclaimer

Shanghai Electric Group Co. Ltd. published this content on 29 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2020 09:05:08 UTC


© Publicnow 2020
All news about SHANGHAI ELECTRIC GROUP COMPANY LIMITED
11/20SHANGHAI ELECTRIC : and Siemens Energy to Establish Smart Energy Empowerment Cen..
AQ
11/16SHANGHAI ELECTRIC : MSCI ESG Rating Upgraded to BB, Highlighting Its Continued I..
AQ
11/16SHANGHAI ELECTRIC : 's MSCI ESG Rating Upgraded to BB, Highlighting Its Continue..
PR
11/11SHANGHAI ELECTRIC : Mitsubishi Elevator Produces One Millionth Unit
AQ
10/27SHANGHAI ELECTRIC : is Welding Boiler of Thar Coal Block-1 2x660MW Power Plant P..
AQ
09/15SHANGHAI ELECTRIC : Repurchase and cancellation of restricted a shares
PU
09/14SHANGHAI ELECTRIC : Next Day Disclosure Return
PU
09/11SHANGHAI ELECTRIC : Next Day Disclosure Return
PU
09/10SHANGHAI ELECTRIC : Half-Year Report Shows Huge Growth in Demand for Renewable E..
AQ
09/10SHANGHAI ELECTRIC : Next Day Disclosure Return
PU
More news
Financials
Sales 2020 143 B 21 728 M 21 728 M
Net income 2020 3 492 M 530 M 530 M
Net cash 2020 18 226 M 2 766 M 2 766 M
P/E ratio 2020 9,04x
Yield 2020 2,54%
Capitalization 71 434 M 10 837 M 10 840 M
EV / Sales 2020 0,37x
EV / Sales 2021 0,29x
Nbr of Employees 33 720
Free-Float 36,7%
Chart SHANGHAI ELECTRIC GROUP COMPANY LIMITED
Duration : Period :
Shanghai Electric Group Company Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SHANGHAI ELECTRIC GROUP COMPANY LIMITED
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 2,79 CNY
Last Close Price 1,93 CNY
Spread / Highest target 81,0%
Spread / Average Target 44,7%
Spread / Lowest Target 14,3%
EPS Revisions
Managers
NameTitle
Jian Hua Zheng Chairman & Chief Executive Officer
Ou Huang President & Executive Director
Kang Hu Chief Financial Officer
Min Fang Yao Non-Executive Director
Jun Hao Chu Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
SHANGHAI ELECTRIC GROUP COMPANY LIMITED-11.33%10 623
ABB LTD3.72%54 623
GATES INDUSTRIAL CORPORATION PLC-5.23%3 792
BLOOM ENERGY CORPORATION195.58%3 670
ABB INDIA LIMITED-16.37%3 057
NORDEX SE60.43%2 442