Dongfang Electric Corporation Ltd (DEC) develops, designs, manufactures and sells equipment for hydro, thermal, nuclear, wind, steam, and solar thermal-based plants. It also provides construction contracting and other related services to electricity operators. DEC operates its business through five product categories: High-efficient Clean Energy Equipment, Renewable Energy Equipment, Engineering and Trade, Modern Manufacturing Services, and Emerging Growth Industry.

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DEC carries out research and development (R&D) activities, to possess firm competitiveness, essentially in techniques brand, and manufacturing abilities. It focuses on possessing excellent product technology, innovative capability, and the development of new wind power products. The company also focuses on acquiring and understanding new scientific and technological knowledge; and producing new substantially improved materials, devices, and products. It has a complete energy equipment research and development system, with a major position in the industry in terms of thermal power generation units of 1 million KW and large circulating fluidized bed boilers. The company has formed a hydrogen energy integration plan for the hydrogen acquisition, hydrogen storage, hydrogen refueling, and hydrogen use, and promoted the demonstration application of the first set of 100kW hydrogen fuel cell cold and heat three-generation joint supply systems in China. It has developed fuel cell membrane electrodes, high-power density reactors, and testing equipment. With help of independent intellectual property rights, built a fuel cell product system with fully independent intellectual property rights, and mastered the ability of mass production, quality control, testing, and after-sales service of products. The company has completed the development of the national demonstration project of compressed air energy storage and power generation system and has promoted the construction of the first new carbon dioxide energy storage verification project in China. As of December 31, 2022, DEC had 4,361 employees for R&D. It has 532 new valid patents (including 183 invention patents) and 3,336 valid patents (including 1,282 invention patents). In FY2022, the company spent CNY2,735.4 million on R&D, which as a percentage of revenue stood at 4.9% and grew 29.7% YoY.