Shanghai Electric Group Co Ltd (Shanghai Electric) is a diversified equipment manufacturing company, which offers various products for thermal power generation, renewable energy, wind energy and industrial sectors. It is primarily engaged in the design, manufacture, and sale of a wide range of equipment and services across various industries. The company serves the energy, industrial, and integration services sectors, focusing on energy equipment, industrial equipment, and integration services.

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Shanghai Electric has undertaken various R&D initiatives focusing on key research projects in gas turbines, advanced nuclear energy, renewable energy, energy storage, industrial machinery, and artificial intelligence. The company has increased R&D investment, accelerated the transformation of scientific achievements, and strengthened collaboration with domestic universities and research institutions. It has issued the Shanghai Electric Technology Innovation Opinions (2024 Edition) to lead development with major projects, create a high-level science and technology innovation platform, and foster an environment conducive to technological innovation. The company has also been involved in projects that have received multiple awards, such as the development of high-capacity lithium-ion batteries, battery energy storage systems, and combustion technology for civil aviation engines. The central research institute of Shanghai Electric Group Co Ltd plays a significant role in managing the company's R&D activities. It led and jointly established the "Shanghai Key Laboratory of Resource Electrothermal Conversion and Cycling," which focuses on aligning with national dual-carbon goals and conducting research on electrochemistry and thermochemistry technology pathways. In FY2024, the company incurred an expense of CNY56.65 million in its R&D, which increased 6% YoY.