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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.
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.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Shanghai Electric and Siemens Sign Framework Agreement to Accelerate Green and Digital Power Grid Transformation
- Company named "Best Financially Managed Semiconductor Company (Achieving Greater than $1 Billion in Annual Sales)" and "Outstanding Asia-Pacific Semiconductor Company" simultaneously
- Accelerates recovery from market downturn leveraging world-class HBM leadership; Global management performance recognized
- Reflects company's technology leadership and customer-centric execution
- SK Chairman Chey Tae-won emphasizes: "Technological competitiveness must remain unwavering in challenging times"
- Commits to driving new customer value and leading global AI market growth as a "Full-Stack AI Memory Creator"
SEOUL, South Korea, Dec. 7, 2025 /PRNewswire/ -- SK hynix Inc. (or "the company", www.skhynix.com) announced today that it has been named the winner of the Best Financially Managed Semiconductor Company Award (Achieving Greater than $1 Billion in Annual Sales)[1] and the Outstanding Asia-Pacific Semiconductor Company Award[2] at the Global Semiconductor Alliance (GSA)[3] Awards 2025, held on December 4 PST in Santa Clara, California.
| [1]The Best Financially Managed Semiconductor Company Award: A category recognizing public semiconductor companies based on financial soundness and operational efficiency. Awards are presented in two categories — annual sales over $1 billion and annual sales under $1 billion — and are considered among the most authoritative honors in the global semiconductor industry. |
| [2]Outstanding Asia-Pacific Semiconductor Company Award: A special category recognizing semiconductor companies headquartered in the Asia-Pacific region based on comprehensive evaluations including product excellence, business vision, leadership, and market success. |
| [3]GSA(Global Semiconductor Alliance): A global CEO-level semiconductor organization serving as a hub for technological information sharing across more than 25 countries and over 250 corporate members. |
The GSA Awards, organized annually since 1996, are regarded as the most prestigious honors in the global semiconductor sector, recognizing outstanding performance in leadership, financial results and industry reputation. SK hynix secured its second win in the financial management category following 2017, and its first recognition as the top Asia-Pacific semiconductor company. The dual achievement reinforces the company's reputation as a leading global technology innovator.
While the semiconductor industry faced a severe downturn just two years ago, the company has been the fastest to rebound thanks to its advanced AI memory technologies including HBM. This performance has resulted in global recognition for its operational excellence and financial execution. SK hynix plans to continue building sustainable growth with its dominant leadership in the AI memory market.
The awards reflect the company's proactive delivery of groundbreaking HBM solutions and its steadfast commitment to customer-centric performance in surging global AI demand. SK Chairman Chey Tae-won has consistently emphasized that securing technological competitiveness must remain unwavering, especially during challenging times. This long-term focus on technology investment and global cooperation network has contributed to the company's improved performance and reinforced financial health.
Driven by this strategy, SK hynix has recorded historic performance throughout 2025. For the first three quarters, the company reported revenue of 64 trillion won and operating profit of 28 trillion won in total, positioning it well to surpass its previous full-year earnings record set in 2024 (66 trillion won in revenue and 23 trillion won in operating profit).
Financial health has also significantly strengthened. As of the end of the third quarter, cash and cash equivalents reached 27.9 trillion won, up 10.9 trillion won quarter-over-quarter, while interest bearing debt decreased to 24.1 trillion won— successfully transitioning into a net cash position of approximately 4 trillion won.
To secure long-term leadership in AI memory, SK hynix is accelerating major investments. The Cheongju M15X fab, which opened its cleanroom earlier than planned in October, is on track to begin HBM mass production in the first half of next year. Construction of the first fab in the Yongin Semiconductor Cluster, launched in February, is also progressing ahead of schedule.
With its recent financial achievements and continued expansion, SK hynix is expected to further solidify its AI memory leadership going forward.
SK hynix was represented at the ceremony by Justin Kim, President & Head of AI Infra at SK hynix, and Sungsoo Ryu, President of SK hynix America. "It is a great honor to receive this award." Kim said, "We will continue to lead the market and create new value for customers as a Full-Stack AI Memory Creator, driving growth across the global AI ecosystem."
About SK hynix Inc.
SK hynix Inc., headquartered in Korea, is the world's top tier semiconductor supplier offering Dynamic Random Access Memory chips ("DRAM") and flash memory chips ("NAND flash") for a wide range of distinguished customers globally. The Company's shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxembourg Stock Exchange. Further information about SK hynix is available at www.skhynix.com, news.skhynix.com.
SEOUL, South Korea, Dec. 7, 2025 /PRNewswire/ -- SK hynix Inc. (or "the company", www.skhynix.com) announced today that it has been named the winner of the Best Financially Managed Semiconductor Company Award (Achieving Greater than $1 Billion in Annual Sales)[1] and the Outstanding Asia-Pacific Semiconductor Company Award[2] at the Global Semiconductor Alliance (GSA)[3] Awards 2025, held on December 4 PST in Santa Clara, California.
| [1]The Best Financially Managed Semiconductor Company Award: A category recognizing public semiconductor companies based on financial soundness and operational efficiency. Awards are presented in two categories — annual sales over $1 billion and annual sales under $1 billion — and are considered among the most authoritative honors in the global semiconductor industry. |
| [2]Outstanding Asia-Pacific Semiconductor Company Award: A special category recognizing semiconductor companies headquartered in the Asia-Pacific region based on comprehensive evaluations including product excellence, business vision, leadership, and market success. |
| [3]GSA(Global Semiconductor Alliance): A global CEO-level semiconductor organization serving as a hub for technological information sharing across more than 25 countries and over 250 corporate members. |
[1]The Best Financially Managed Semiconductor Company Award: A category recognizing public semiconductor companies based on financial soundness and operational efficiency. Awards are presented in two categories — annual sales over $1 billion and annual sales under $1 billion — and are considered among the most authoritative honors in the global semiconductor industry.
[2]Outstanding Asia-Pacific Semiconductor Company Award: A special category recognizing semiconductor companies headquartered in the Asia-Pacific region based on comprehensive evaluations including product excellence, business vision, leadership, and market success.
[3]GSA(Global Semiconductor Alliance): A global CEO-level semiconductor organization serving as a hub for technological information sharing across more than 25 countries and over 250 corporate members.
The GSA Awards, organized annually since 1996, are regarded as the most prestigious honors in the global semiconductor sector, recognizing outstanding performance in leadership, financial results and industry reputation. SK hynix secured its second win in the financial management category following 2017, and its first recognition as the top Asia-Pacific semiconductor company. The dual achievement reinforces the company's reputation as a leading global technology innovator.
While the semiconductor industry faced a severe downturn just two years ago, the company has been the fastest to rebound thanks to its advanced AI memory technologies including HBM. This performance has resulted in global recognition for its operational excellence and financial execution. SK hynix plans to continue building sustainable growth with its dominant leadership in the AI memory market.
The awards reflect the company's proactive delivery of groundbreaking HBM solutions and its steadfast commitment to customer-centric performance in surging global AI demand. SK Chairman Chey Tae-won has consistently emphasized that securing technological competitiveness must remain unwavering, especially during challenging times. This long-term focus on technology investment and global cooperation network has contributed to the company's improved performance and reinforced financial health.
Driven by this strategy, SK hynix has recorded historic performance throughout 2025. For the first three quarters, the company reported revenue of 64 trillion won and operating profit of 28 trillion won in total, positioning it well to surpass its previous full-year earnings record set in 2024 (66 trillion won in revenue and 23 trillion won in operating profit).
Financial health has also significantly strengthened. As of the end of the third quarter, cash and cash equivalents reached 27.9 trillion won, up 10.9 trillion won quarter-over-quarter, while interest bearing debt decreased to 24.1 trillion won— successfully transitioning into a net cash position of approximately 4 trillion won.
To secure long-term leadership in AI memory, SK hynix is accelerating major investments. The Cheongju M15X fab, which opened its cleanroom earlier than planned in October, is on track to begin HBM mass production in the first half of next year. Construction of the first fab in the Yongin Semiconductor Cluster, launched in February, is also progressing ahead of schedule.
With its recent financial achievements and continued expansion, SK hynix is expected to further solidify its AI memory leadership going forward.
SK hynix was represented at the ceremony by Justin Kim, President & Head of AI Infra at SK hynix, and Sungsoo Ryu, President of SK hynix America. "It is a great honor to receive this award." Kim said, "We will continue to lead the market and create new value for customers as a Full-Stack AI Memory Creator, driving growth across the global AI ecosystem."
About SK hynix Inc.
SK hynix Inc., headquartered in Korea, is the world's top tier semiconductor supplier offering Dynamic Random Access Memory chips ("DRAM") and flash memory chips ("NAND flash") for a wide range of distinguished customers globally. The Company's shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxembourg Stock Exchange. Further information about SK hynix is available at www.skhynix.com, news.skhynix.com.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
SK hynix Honored with Two Major Titles at GSA Awards 2025
