According to the Zhitong Finance App, Shanghai Electric (601727.SH) disclosed its 2023 annual report. The company achieved total revenue of 114.797 billion yuan (RMB, same below) during the reporting period, a year-on-year decrease of 2.4%. Net profit attributable to shareholders of listed companies was 285 million yuan, turning a year-on-year loss into a profit. Net loss attributable to shareholders of listed companies after deducting non-recurring profit and loss was 1,224 billion yuan. Losses narrowed year-on-year. Basic earnings per share were 0.018 yuan/share.

During the reporting period, the company turned losses into profits compared to the same period of the previous year. The main reasons were: the company focused on its main business, and the gross profit and gross margin of some business segments increased significantly compared to the same period of the previous year; the company continued to strengthen accounts receivable management and collection efforts, and credit impairment losses decreased compared to the same period of the previous year; and losses due to fluctuations in the fair value of the company's financial assets narrowed compared to the same period last year.