Shanghai Electric posts impairment provisions, interim results for first half 2025

Shanghai Electric Group reported a net decrease of RMB944.20m in profit before taxation for the first half of 2025, primarily due to impairment provisions. These provisions include RMB1,145.40m for credit impairment loss and RMB400.59m for asset impairment loss, partially offset by respective reversals of RMB365.14m and RMB236.65m. Credit impairment losses mainly relate to notes, accounts, other, and long-term receivables, while asset impairment losses cover inventory write-downs, contract assets, and fixed assets.

For the first half of 2025, total revenue increased 8.9% year-on-year to RMB54,303m, and profit attributable to owners rose 7.3% to RMB821m. Basic earnings per share increased 8.2% to RMB0.053 yuan. New orders reached RMB109.81bn, with significant contributions from energy equipment, industrial equipment, and integration services.

An investor briefing session is scheduled for September 10, 2025, to discuss these interim results. The board did not propose to declare an interim dividend for 2025. The company also noted a decrease in Shanghai State-owned Capital Investment Co., Ltd.'s shareholding percentage following an exchange of unrestricted tradable A shares.