SHANGHAI, Aug. 14, 2020 /PRNewswire/ -- On August 5th, Shanghai Electric Group Company Limited (Shanghai Electric), the world's leading manufacturer and supplier of electric power generation equipment, industrial equipment and integration services, was named the 48th most valuable Chinese brand in the World Brand Conference's official 2020 "China's 500 Most Valuable Brands" list. This marks a more than 30% increase in brand value from 2019 to 105.637 billion yuan and puts Shanghai Electric at the head of China's energy industry.
With roots tracing back to 1902, Shanghai Electric has emerged in recent years as a powerhouse of industrial innovation both domestically and abroad. Following a comprehensive three-phase strategy, the Group has seen remarkable growth and achieved a gross revenue increase of 26%, with the profit attributable to shareholders of the parent company increasing by 24.83% and new orders growing 30.6% year-on-year. All these are record highs for Shanghai Electric and signify the growing value of brand presence shaped around world-class innovation and quality industrial products.
Into the future, Shanghai Electric has identified developing a positive internationally recognizable brand as being essential to doing business across the globe. With the aim to vitalize its overseas brand within the next 3-5 years, Shanghai Electric is committed to becoming an international first-class enterprise, dedicating resources for the social progress and development, open innovation and upholding EHS best-practices. From participation in industry exhibition in Hannover, Germany, to meeting with prospective business partners at the World Energy Congress in Dubai, Shanghai Electric is looking to strengthen its cooperation with world-class organizations to make a positive change and address some of the world's most prominent energy-related challenges and concerns.
The environmental impact of large-scale electricity production is a regrettable consequence of societies. Shanghai Electric, however, believes that even though a degree of disruption may be necessary, this damage can effectively be minimized through improved monitoring and management practices. A major focus shift across the Group towards renewable sources of energy saw a record year-on-year revenue growth of 51% from 2018 to 2019, compared with only 8.4% from thermal power during the same timeframe. Pairing this focus on sustainability with a desire to build a positive international brand, environmental conscientiousness and 'green' policies are at the forefront of Shanghai Electric's brand pivot. This is also evidenced by progress across its major internal initiative, 'SEC-LOVE'. Aimed at ensuring all departments are aligned with their green goals, a recorded over 80% of all affiliated companies now satisfy the requirements of the ISO14001 Environmental Management System (EMS) standard.
'Made in China 2025' is the focus of China's initiative to bring more high-quality products and services with cutting-edge innovation to the world. Shanghai Electric is leading this effort to refresh the 'Made in China' image and make the positive impact on the communities where it operates - one of the Group's major CSR goals and commitment to delivering world-class energy innovation.
For more information, visit www.shanghai-electric.com
SOURCE Shanghai Electric