HK Stock Market Move | Shanghai Electric Group (02727) rose more than 10% and signed a contract with the National Geocentric Center to jointly build a humanoid Siasun Robot & Automation intelligent training ground.

Shanghai Electric Group (02727) rose more than 10%, reaching an increase of 10.38% at the time of publication, at 2.87 Hong Kong dollars, with a turnover of 178 million Hong Kong dollars. On the news front, on the morning of January 21st, the opening ceremony of the "Kirin" intelligent training ground of the National Joint Construction Siasun Robot & Automation Innovation Center (hereinafter referred to as the "National Center") was held in Shanghai, marking the official opening of the country's first heterogeneous human Siasun Robot & Automation training ground. The National Center has signed an operational cooperation agreement with the Central Research Institute of Shanghai Electric Group, Shanghai Yidian, and ten other scientific research enterprises, and has signed a joint construction agreement on the human Siasun Robot & Automation ecological scene with ten scientific research institutes and enterprises such as Shanghai Electric Group Nuclear Power Group and Haier Group, marking another solid step by Shanghai Electric Group in serving national major strategies and accelerating the development of new productive forces. It is worth mentioning that Shanghai Electric Group recently announced a profit forecast, estimating a net profit attributable to the owners of the parent company of 680 million to 810 million RMB in 2024, an increase of 138%-184% compared to the 2023 fiscal year (statutory data); an increase of 1% to a decrease of 15% compared to the unofficial data mentioned earlier. The forecasted increase in financial performance is mainly due to an increase in gross profit and gross profit margin; optimization of debt structure and further improvement in operating cash flow, leading to a decrease in financial expenses.