On June 26, World Brand Lab released its 2019 edition of China's 500 Most Valuable Brands list in Beijing. Shanghai Electric ranked 49th for a record-high brand value of RMB 81.276 billion, 15.2% up from last year's 70 billion. By once again being ranked higher than many of its peers in the Chinese machinery industry, Shanghai Electric has put itself one step closer to a world-class brand.
From the initial RMB 3.822 billion to the current RMB 80+ billion, Shanghai Electric has realized a 21-fold increase in the brand value in 16 years. The Group made several major breakthroughs in 2018, including crossing the RMB 100 billion mark on annual revenue and hitting a record high for all the performance indicators. All these have helped enhance its competence in brand evaluation. The Group's engagement in several iconic projects, including the CSP + PV project in Dubai and the clean coal-fired power station in Hamrawein, Egypt, has become a powerful driver to bring its brand value to a higher level. With the goal of becoming a world-leading high-end equipment manufacturer, Shanghai Electric takes a classified and comprehensive approach to brand management. The Group strives to incorporate intelligence, reliability, and network connectivity into its brand portfolio, which is in line with its philosophy of creating reliable, integrated and value-added brands. The Group also seeks out innovative ways for brand building, communication, and management, having gained increasingly prominent brand influence in the international market.
The combined brand value of the 500 most valuable brands this year reached RMB 21,871.033 billion, an increase of RMB 3425.122 billion compared with last year. The brand value evaluation on the candidates was made using the present earning value method, based on analytical results on finance, consumer behavior, brand strength, etc.
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