Partnership focuses on medium- and low-voltage power system equipment to advance China's dual-carbon goals

SHANGHAI, Nov. 14, 2025 /PRNewswire/ -- Shanghai Electric (SEHK: 2727, SSE: 601727) and Siemens AG signed a framework agreement for the "Intelligent Grid – Medium-Low Voltage New-Type Power System Equipment Procurement Project," during the 8th China International Import Expo (CIIE). The collaboration aims to deepen innovation in medium- and low-voltage power system equipment, driving progress in digitalization and decarbonization to support China's dual-carbon targets.

Under the agreement, both companies will leverage complementary strengths to accelerate market expansion, green transformation, and intelligent upgrades, delivering mutual benefits and creating benchmark projects for a sustainable power grid. The signing highlights Shanghai Electric's proactive role in the global energy transition and reflects the shared strategic vision of both companies in advancing low-carbon and digital development.

"Shanghai Electric and Siemens share a long-standing partnership built on decades of trust and joint ventures," said Zhu Zhaokai, President of Shanghai Electric Group. "This agreement marks a new milestone in our cooperation and an important step toward building intelligent, green energy systems. We look forward to deepening collaboration with Siemens to create benchmark projects for a greener power grid."

Siemens Energy underscored China's pivotal role in the global energy transition. The company reaffirmed its commitment to the partnership with Shanghai Electric, noting their joint focus is on developing high-end equipment and integrated solutions. This collaboration aims to deliver more "lighthouse projects" that showcase Chinese innovation in building a sustainable energy future.

For over three decades, Shanghai Electric and Siemens have maintained close technological collaboration and market cooperation, setting benchmarks in China's power transmission and distribution sector. Recent milestones include:

• April 2025: Signing of a strategic cooperation agreement to advance power transmission and distribution, digitalization, and low-carbon initiatives.
• July 2025: Visit by Karim Amin, Siemens Energy Executive Board member, to discuss energy technology synergy, system integration, and global market development.

This new agreement will further accelerate the green transformation of the power system industry and strengthen Shanghai Electric's leadership in transmission and distribution equipment, while opening new opportunities for international cooperation.

Looking ahead, both parties will take this signing as a starting point to deepen strategic collaboration, explore integrated applications across diverse industrial scenarios, and leverage high-end equipment partnerships to build benchmark projects for sustainable, low-carbon development. Together, Shanghai Electric and Siemens will deliver reliable, forward-looking "Shanghai Electric Solutions" to support China's and the world's energy transition.