Dongfang Electric

Dongfang Electric Corporation (Chinese: 东方电气集团) is a Chinese state-owned manufacturer of power generators and the contracts of power station projects. According to Platts, in 2009-10 the company was the second largest manufacturer of steam turbines by worldwide market share, tying with Harbin Electric and slightly behind Shanghai Electric.[2]

Dongfang Electric Corporation
东方电气集团
Public
IndustryPower plant equipment manufacturing
Founded1984
FounderDing Yi
Headquarters
Chengdu, Sichuan
,
China
Area served
Worldwide
Key people
Wang Ji (王计) (Chairman)
Revenue32,324,500,000 renminbi[1] (2018) 
SubsidiariesDongfang Electric Corporation Limited
WebsiteDongfang Electric Corporation
Dongfang Electric Corporation Limited

History

It was founded in 1984 and is based in Chengdu, Sichuan.[3][4] Its subsidiary is Dongfang Electric Corporation Limited (Chinese: 东方电气股份有限公司) (SEHK: 1072,SSE: 600875). Its H shares and A shares were listed on the Hong Kong and Shanghai.

  • 1958: Dongfang Electric Machinery Plant (Chinese: 东方电机厂) was established.[5]
  • 1984: Dongfang Electric Corporation was established by Ding Yi.[6]
  • 1993: China Dongfang Electric Machinery Plant was restructured to form Dongfang Electric Machinery Company Limited (Chinese: 东方电机股份有限公司).[7]
  • 1994: Dongfang Electric Machinery Company was listed on the Hong Kong Stock Exchange.
  • 1995: Dongfang Electric Machinery Company was listed on the Shanghai Stock Exchange.[8]
  • 2007: China Dongfang Electric Corporation was listed entirely in Dongfang Electric Machinery Company. Dongfang Electric Machinery Company was renamed to Dongfang Electric Corporation Limited (Chinese: 东方电气股份有限公司).[9]

Controversy

Allegations of improper influence from the Gupta family

Dongfang was accused by General Electric in court papers of benefitting from a rigged tendering process awarded by South African utility giant Eskom to install a new boiler at the Duvha Power Station. General Electric claims that Dongfang got the contract even though its bid was R1 billion (US$76 million) more than the General Electric bid.[10][11]

See also

References
  1. https://finance.sina.com.cn/zt_d/2019_zq500qbd/.
  2. "Capital Goods: China Losing Its Shine". Societe General. Archived from the original on 2015-12-23. Retrieved 2015-11-03.
  3. Dongfang Electric Corporation
  4. Dongfang Electric Corporation
  5. DONG FANG ELECTRICAL MACHINERY AND THE SWITCH SIGN WINDPOWER GENERATOR CO- OPERATION AGREEMENT
  6. Yue Huairang 岳怀让 (2019-03-07). "著名企业家、92岁东方电气创始人丁一逝世". The Paper. Retrieved 2019-03-09.
  7. Dongfang Electric Corporation Limited
  8. Dongfang Electrical Machinery Co Ltd
  9. Dongfang Electric maker goes for total listing
  10. STEPHAN HOFSTATTER AND CAROL PATON (26 April 2017). "GE claims Eskom favoured Chinese firm's bid, with backing of Trillian". Business Day. Retrieved 2017-04-26.
  11. STEPHAN HOFSTATTER (26 June 2017). "Chinese firm Dongfang pockets R600m from 'rigged' Eskom deal". Business Day. Retrieved 2017-06-26.
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