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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 : is Welding Boiler of Thar Coal Block-1 2x660MW Power Plant Project while Empowering Local Welders

10/27/2020 | 09:57pm EST

SHANGHAI, Oct. 27, 2020 /CNW/ -- Shanghai Electric (the "Company") (SEHK: 02727, SSE: 601727), the world's leading manufacturer and supplier of electric power generation equipment, industrial equipment and integration services, has reached another milestone with the start of the soldering process of the heating surface of a boiler of Thar Coal Block-1 2x660MW Power Plant Project in Pakistan. The Company also held a soldering competition among welders to encourage and empower local workers to demonstrate their professional expertise under the guidance spirit of pursuing perfection.

A soldering contest with a total number of 8 Chinese and Pakistani welders on-site was conducted as part of the ongoing training, and the top three places were taken by a Chinese welder and two Pakistani welders.

"We're glad to see our welders accomplish difficult soldering tasks in the contest, and we see this as a part of our ongoing training for workers to deliver quality results," Qian Xiaolei, PR Manager of the project, said.

The participants were required to complete multiple missions within 40 minutes, including tasks such as switching welding machines, welding debugging, plate splicing and plate vertical welding. The participants were evaluated by 12 key aspects such as weld forming, weld residual height, width difference, angular deformation and root forming, which is in line with international welding regulations.

The Project has entered the stage of equipment installation as the Company began the soldering process of the heating surface of the boiler.

The contest comes as Shanghai Electric further builds its presence in Pakistan. The Company has overcome challenges in constructing the project as the industrial environment in Pakistan is less developed and the supply of equipment and construction materials were lacking amidst the Covid-19 pandemic.

To ensure a smooth construction process, the Company actively coordinated personnel and supplies, and flew a team of installation professionals to the site. The team carefully checked the conditions of the construction, planned the heating surface installation, and ensured welders are qualified to conduct such work. After thorough evaluation, Shanghai Electric successfully carried out the soldering work of the unit 1 boiler with 29 welded junctions of The Project, that is qualified for use.

About Shanghai Electric

Shanghai Electric Group Company Limited (SEHK: 02727, SSE: 601727) is principally engaged in the designing, manufacturing and sale of power equipment and industrial equipment. It focuses on Energy Equipment Business including manufacturing and sale of coal-fired power generation equipment, gas-fired power generation equipment, nuclear power equipment, wind power equipment, energy storage equipment, high-end chemical equipment, power grid and industrial intelligent power supply system solutions, Industrial Equipment Business including production and sale of elevators, medium and large-sized electric motors, intelligent manufacturing equipment, industrial basic parts, environmental protection equipment, construction industrialization equipment and the Integrated Services Business including energy, environmental protection and automation engineering and services, industrial internet services, financial services, international trade services, high-end property services, etc.

Related Link
www.shanghai-electric.com

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View original content to download multimedia:http://www.prnewswire.com/news-releases/shanghai-electric-is-welding-boiler-of-thar-coal-block-1-2x660mw-power-plant-project-while-empowering-local-welders-301161304.html

SOURCE Shanghai Electric

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2020 143 B 21 745 M 21 745 M
Net income 2020 3 492 M 530 M 530 M
Net cash 2020 18 226 M 2 768 M 2 768 M
P/E ratio 2020 8,72x
Yield 2020 2,63%
Capitalization 69 843 M 10 645 M 10 606 M
EV / Sales 2020 0,36x
EV / Sales 2021 0,28x
Nbr of Employees 33 720
Free-Float 36,7%
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 2,79 CNY
Last Close Price 1,86 CNY
Spread / Highest target 87,7%
Spread / Average Target 50,0%
Spread / Lowest Target 18,5%
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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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