BRIEF-Shanghai Electric's Q1 profit up, scraps share issue in asset acquisition proposal

April 21 (Reuters) - Shanghai Electric Group Co Ltd

* Says Q1 net profit down 3.8 percent y/y at 485.7 million

yuan ($70.57 million)

* Says it scraps share issue in its asset acquisition

proposal

Source text in Chinese:http://bit.ly/2oXAGwz;

http://bit.ly/2osYbfX

Further company coverage:

($1 = 6.8828 Chinese yuan renminbi)

(Reporting by Hong Kong newsroom)