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    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 EDT

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 2021 152 B 23 377 M 23 377 M
Net income 2021 3 538 M 546 M 546 M
Net cash 2021 32 099 M 4 953 M 4 953 M
P/E ratio 2021 8,54x
Yield 2021 4,69%
Capitalization 71 406 M 9 194 M 11 018 M
EV / Sales 2021 0,26x
EV / Sales 2022 0,23x
Nbr of Employees 39 312
Free-Float 39,9%
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 5
Last Close Price 2,01 CNY
Average target price 2,63 CNY
Spread / Average Target 31,0%
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Managers and Directors
NameTitle
Jian Hua Zheng Chairman & Chief Executive Officer
Ou Huang President & Executive Director
Kang Hu Chief Financial Officer
Mingjie Zhang Chief Investment Officer
Jun Tong Xi Independent Non-Executive Director
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