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

SHANGHAI ELECTRIC GROUP COMPANY LIMITED

(2727)
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Shanghai Electric : ANNOUNCEMENT ON PROGRESS OF EXTERNAL INVESTMENT

09/09/2020 | 06:50am 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 ON PROGRESS OF EXTERNAL INVESTMENT

Reference is made to the announcement of Shanghai Electric Group Company Limited (the "Company") dated 11 November 2019 in relation to the acquisition of Shenzhen Yinghe Technology Co., Ltd ( 深 圳 市 贏 合 科 技 股 份 有 限 公 司 ) ("Yinghe Technology") (the "Transaction"), including that the Company proposed to subscribe for the shares of Yinghe Technology to be issued under the non-public issuance with full amount in cash of no more than RMB2,000 million (the "Non-publicIssuance"); the announcement of the Company dated 18 December 2019, the announcement of the Company dated 17 February 2020, the announcement of the Company dated 19 February 2020 and the announcement of the Company dated 31 August 2020, all regarding the progress of the Transaction. Terms defined in the abovementioned announcements shall have the same meaning when used herein unless the context herein requires otherwise.

As of the date of this announcement, the registration procedures of 88,378,258 shares of Yinghe Technology subscribed by the Company have been completed in the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited.

As of the date of this announcement, the Company holds 184,426,829 shares of Yinghe Technology in aggregate, representing 28.28% of the total issued share capital of Yinghe Technology, being the controlling shareholder of Yinghe Technology.

By order of the Board

Shanghai Electric Group Company Limited

ZHENG Jianhua

Chairman of the Board

Shanghai, the PRC, 9 September 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

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Shanghai Electric Group Co. Ltd. published this content on 09 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 September 2020 10:49:04 UTC


© Publicnow 2020
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Financials
Sales 2020 143 B 21 781 M 21 781 M
Net income 2020 3 492 M 531 M 531 M
Net cash 2020 18 226 M 2 772 M 2 772 M
P/E ratio 2020 8,78x
Yield 2020 2,43%
Capitalization 70 255 M 10 687 M 10 687 M
EV / Sales 2020 0,36x
EV / Sales 2021 0,28x
Nbr of Employees 33 720
Free-Float 36,7%
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 2,79 CNY
Last Close Price 1,87 CNY
Spread / Highest target 86,4%
Spread / Average Target 49,0%
Spread / Lowest Target 17,7%
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
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