Dongfang Electric Explained
Dongfang Electric Corporation 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.[1] The company currently operates the world's most powerful wind turbine by installed capacity, at 18 MW.[2]
History
It was founded in 1984 and is based in Chengdu, Sichuan.[3] [4] Its subsidiary is Dongfang Electric Corporation Limited (HKEX:,). Its H shares and A shares were listed on the Hong Kong and Shanghai.
- 1958: Dongfang Electric Machinery Plant 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 .[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 .[9]
Controversy
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
External links
Notes and References
- Web site: Capital Goods: China Losing Its Shine. Societe General. 2015-11-03. https://web.archive.org/web/20151223055243/http://documents.mx/documents/socgen-china-losing-it-shine.html. 2015-12-23. dead.
- Web site: Maritime Executive . 14 October 2024 . Dongfang Unveils Record-Smashing 26 MW Offshore Wind Turbine . 17 October 2024.
- http://www.dongfang.com.cn/ Dongfang Electric Corporation
- https://web.archive.org/web/20120616051443/http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=24821819 Dongfang Electric Corporation
- https://archive.today/20120908024727/http://www.reuters.com/article/pressRelease/idUS115462+30-Jun-2008+MW20080630 DONG FANG ELECTRICAL MACHINERY AND THE SWITCH SIGN WINDPOWER GENERATOR CO- OPERATION AGREEMENT
- Web site: 著名企业家、92岁东方电气创始人丁一逝世. Yue Huairang 岳怀让. 2019-03-07. The Paper. 2019-03-09.
- http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?symbol=600875 Dongfang Electric Corporation Limited
- http://www.hkex.com.hk/vendor/venlist/Market%20Data%20Collaboration%20Stock%20List%20(20081205).pdf Dongfang Electrical Machinery Co Ltd
- http://www.chinadaily.com.cn/bizchina/2007-05/18/content_875372.htm Dongfang Electric maker goes for total listing
- News: GE claims Eskom favoured Chinese firm's bid, with backing of Trillian. STEPHAN HOFSTATTER AND CAROL PATON. 26 April 2017. Business Day. 2017-04-26. en-US.
- News: Chinese firm Dongfang pockets R600m from 'rigged' Eskom deal. STEPHAN HOFSTATTER . 26 June 2017. Business Day. 2017-06-26. en-US.
