Shanghai Electric Reports Revenue Growth Amid Profit Challenges

Shanghai Electric Group Company (HK:2727) has released an update.

Shanghai Electric Group Company reported a rise in total revenue for the first nine months of 2024, reaching approximately RMB 76.6 billion, despite a slight year-on-year decline. The company’s net profit attributable to shareholders fell by 32.20% in the third quarter, indicating challenges in profitability. However, the company showed a significant increase in net profit excluding non-recurring items, highlighting potential recovery and growth opportunities.

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