Shanghai Electric, the world's leading manufacturer and supplier of power generation and industrial equipment, released its 2019 Corporate Social Responsibility Report highlighting its commitment to corporate social responsibility and key advancements in 2019.
The company's CSR strategies are designed not only to minimize the potential unfavorable impact of its products and operations, but also to activate the brand's purpose "Empower global industry, Make life smarter."
"It is a remarkable year for Shanghai Electric as the company has made major technological breakthroughs in many fields such as gas turbines, nuclear main pumps, high-efficiency clean coal power, offshore wind power, 3D printing, and flow batteries," said Shanghai Electric's Chairman and CEO Zheng Jianhua, "Our employees are always the primary driving force behind this and it is vital for us to strengthen the bond with our employees worldwide through effective reforms in profit sharing mechanism and human-centered management."
To attract and retain talents, Shanghai Electric has adopted an equity incentive plan since May 2019. This consists of A-share restricted stock units, which have functioned as a supply-side stimulus to economic growth that benefits both employers and workers. Through the Plan, 2194 Shanghai Electric staff would receive performance incentives of a total of 134 million restricted stock units in the hope of reinforcing team effort and commitment.