Shanghai Electric Group Co Ltd

Shanghai Electric Group Co Ltd maintains a capital structure characterized by high leverage and tight liquidity metrics. The company reports total assets of CNY 325.4 billion against total liabilities of CNY 270.7 billion, resulting in a debt-to-equity ratio of 0.89. The current ratio stands at 1.06, indicating minimal short-term liquidity buffer, while the risk assessment flags medium liquidity risk due to negative net cash after subtracting total debt. Long-term debt comprises CNY 48.8 billion of the total liability base.

Profitability metrics reveal thin margins and low returns on capital. The company generated net income of CNY 1.2 billion on revenue of CNY 126.7 billion, yielding a return on equity (ROE) of 2.21% and a return on assets (ROA) of 0.37%. Operating income was CNY 4.9 billion, reflecting an operating margin of approximately 3.9%. These returns are significantly below typical utility sector medians, suggesting capital-intensive operations with limited pricing power or high fixed costs.

Revenue concentration and geographic exposure are not detailed in the available segment data, but the company is headquartered in China and employs 40,260 people. The lack of specific segment breakdown prevents a granular analysis of revenue mix, though the classification as Electric Utilities and Electrical Equipment suggests a diversified industrial portfolio.

Growth trajectory analysis is limited by the absence of historical period data in the input. The latest normalized period shows revenue of CNY 126.7 billion and free cash flow of -CNY 220.5 million, indicating that operating cash flow of CNY 10.5 billion is largely consumed by capital expenditures of CNY 5.0 billion and other cash outflows. The negative free cash flow highlights the capital intensity of the business model.

Risk factors include medium liquidity risk and low dilution risk. The key flag notes that net cash is negative after subtracting total debt, which constrains financial flexibility. The dilution risk is assessed as low, with basic and diluted shares outstanding both at 2.92 billion, indicating no significant in-the-money options or convertible securities impacting the share count.

Recent observations indicate a market capitalization of approximately USD 16.4 billion and a total share float of 2.61 billion shares. The company has 714,919 common-share holders as of March 2026. ESG pillar scores show high controversy scores (81) alongside strong governance (72) and social (80) ratings, suggesting potential reputational or operational risks that may impact stakeholder perception.