Shanghai Electric Group (HKG:2727, SHA:601727) expects a net profit attributable to the owners between 680 million yuan and 810 million yuan in 2024, 138% to 184% higher compared with the prior year, a Monday Hong Kong bourse filing said.

The company attributed the expected rise in attributable profit to an increase in its gross profit and gross profit margins resulting from its focus on its main businesses, and a reduction in interest-bearing liabilities through optimization of the company's debt structure.