HK Stock Market Move | Shanghai Electric Group (02727) has risen by over 6% currently, with a total increase of nearly 15% for the week. The company had previously acquired a 50% stake in Siasun Robot & Automation.

Shanghai Electric Group (02727) is now up more than 6%, with a cumulative increase of nearly 15% this week. As of press time, it rose by 5.99 to 3.01 Hong Kong dollars, with a turnover of 183 million Hong Kong dollars. On the news front, on the morning of January 21st, the opening ceremony of the "Qilin" humanoid Siasun Robot & Automation Innovation Center, which is jointly built by the national and local governments, was held in Shanghai. The first heterogeneous humanoid Siasun Robot & Automation training center in the country was officially put into use. The national-level center signed a cooperation agreement with Shanghai Electric Group's Central Research Institute, Shanghai Yidi Electronics, and ten other scientific research enterprises for the operation of the training center. Furthermore, agreements on cooperation in the ecology scene of humanoid Siasun Robot & Automation were also signed with Shanghai Electric Group Nuclear Power Group, Haier Group, and ten other scientific research institutes and enterprises. This move signifies that Shanghai Electric Group has taken a solid step forward in serving the country's major strategies and accelerating the development of new productive forces. It is reported that on October 18, 2024, Shanghai Electric Group announced that its wholly-owned subsidiary Automation Group plans to acquire 100% equity of Ning Sheng Industry held by Electric Holdings in cash. The core assets of Ning Sheng Industry include a 50% stake in Shanghai Fanuc Siasun Robot & Automation Co., Ltd. Shanghai Electric Group is actively developing special Siasun Robot & Automation and intelligent Siasun Robot & Automation products, achieving full integration with Fanuc Siasun Robot & Automation in motion control and integration application technology advantages, and jointly building their competitive advantages in the field of automation.