Shanghai Electric and Siemens Energy to Establish Smart Energy Empowerment Center

SHANGHAI, Nov. 20, 2020 /PRNewswire/ -- 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 and signed a collaboration agreement with Siemens Energy on smart energy empowerment center at the global China International Import Expo (CIIE) held in Shanghai.

The cooperation aims to build a smart energy empowerment center that can serve domestic and global energy industries. Based on continuously innovated industrial internet digital technology, the Shanghai Electric-Siemens Empower Center is establishing three high-tech business sectors, one virtual-real digital experience center and one industrial incubator cooperation platform. It will provide high quality industrial internet digital service for energy customers on the basis of the core high-end energy equipment industry of the parent company.

The Shanghai Electric and Siemens Energy collaboration marks another step forward for the overall upgrade of China's energy industry. The two companies aim to integrate artificial intelligence, industrial IoT and the value chains of the industry, in a bid to further expand the Company's business scope and advance the ecosystem of its smart energy business.

In addition to the agreement with Siemens Energy, the Company also inked deals at the CIIE with global top 500 enterprises. At the expo, it raked in import orders worth a total of nearly RMB 2.4 billion, about RMB 500 million more than last year.

Shanghai Electric is one of the largest manufacturers in China and operates businesses across various sectors. A leader in the fields of traditional thermal and renewable energy equipment manufacturing, the Company has long focused in the fields of energy and industrial equipment, and integration services. The Company also stands out in the wind power sector with its offshore wind power equipment taking up the majority of market shares.

Siemens Energy is one of the world's leading energy technology companies. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers.

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