The Zhitong Finance App learned that Harbin Electric (01133) opened more than 8% after profit. As of press release, it had risen 8.55% to HK$14.22, with a turnover of HK$2.9862 million.
According to the news, on July 20, Harbin Electric announced that it expects the company to obtain a net profit of about RMB 1.7 billion (approximately RMB 1.05 billion in the same period last year) for the first half year of 2026, which is a high increase over the same period last year. The main reason is that the company's revenue scale grew steadily in the first half of 2026, the positive results achieved in deepening efforts to improve quality and efficiency, and the gross margin level of operating business increased compared to the same period last year.
Bank of China International released a research report saying that in the “15th Five-Year Plan” for the construction of a new power system, China recently raised the 2030 installed pump energy storage target from 120 GW to 160 GW. As a leading domestic hydropower equipment company, Harbin Electric expects a compound annual growth rate of 20% in hydropower revenue between 2026 and 2028. At the same time, the expansion of overseas production will offset the decline in some domestic coal and power businesses. It is expected that the company will take advantage of the rapid expansion of the Southeast Asian Regional Artificial Intelligence Data Center (AIDC) to capture the growing demand for baseload power equipment by leveraging its leading position in thermal power, hydropower, and autonomous gas turbine models.