State Grid Corporation of China

State Grid Corporation of China (State Grid Corporation of China) is the world's largest utility company, specializing in power grid investment, construction, operation and full-chain power supply services. As a centrally-administered wholly state-owned enterprise, the company operates in 26 provinces and regions across China, serving a population exceeding 1.1 billion. It holds world-leading technical standards in ultra-high voltage transmission, smart grid, and new energy grid integration fields, ranking 3rd on the Fortune Global 500 list.

Core Business

State Grid's core business centers on power grid infrastructure, with transmission business as the absolute main business, operating over 1 million kilometers of transmission lines and over 10 billion kVA of transformer capacity. Voltage levels cover the full range from 110 kV to UHVAC/UHVDC. In distribution business, the company has built an extensive distribution network supporting stable power supply in urban and rural areas. In electricity sales business, the company as China's largest power sales enterprise provides reliable electricity services to over 1.1 billion people. Meanwhile, the company actively布局 new energy access, mastering world-leading high-proportion new energy consumption technology and dispatch control capabilities, and actively promoting grid integration of wind power, photovoltaics and other clean energy sources. The comprehensive energy services segment covers energy conservation services, electricity replacement and multi-energy supply, providing diversified solutions for user-side needs.

Global Presence

State Grid's domestic operational area covers 26 provinces and regions across China and approximately 88% of the national territory, with multiple regional power grid companies including North China, East China, and Central China. East China Power Grid carries the electricity load of the most economically developed regions, while North China Power Grid undertakes the high-reliability power supply mission for the capital region. The company's international business spans over 10 countries and regions, operating power grid assets in the Philippines, Brazil, Portugal, and Australia, and conducting engineering general contracting and equipment export business along the Belt and Road, with standards exported to over 80 countries and regions worldwide. The total number of employees is approximately 900,000, with technical personnel accounting for approximately 40%, and overseas assets distributed across multiple key markets, with international business contributing approximately 350 billion yuan in revenue, accounting for 10% of total revenue.

Key Strengths

State Grid's core competitiveness is reflected in three moats: First, the network scale moat - possessing the world's largest power grid network, absolutely leading in ultra-high voltage transmission technology, with power supply reliability rate and voltage qualification rate both reaching over 99.9%, world-leading; Second, the technical standards moat - the company takes the lead in formulating ultra-high voltage and smart grid international standards, with over 100,000 valid patents, and ±1100 kV DC and 1000 kV AC transmission technology at the world's top level; Third, the talent resources moat - possessing a professional technical team of over 900,000 employees, with outstanding power grid operation and maintenance experience and scientific research and innovation capabilities. Fiscal year 2025 revenue is approximately 3.5 trillion yuan, total profit is approximately 1.2 trillion yuan, and R&D investment exceeds 500 billion yuan, demonstrating outstanding scale advantages and sustained profit growth capabilities.