HK Stock Market Move | HARBIN ELECTRIC (01133) now rises more than 6%, the company's new energy equipment business signed orders exceed expectations, and the current order backlog may exceed 100 billion.

HARBIN ELECTRIC (01133) is currently up more than 6%, with a gain of 5.23% at the time of writing, trading at 4.63 Hong Kong dollars, with a turnover of 1681.64 million Hong Kong dollars. In terms of news, HARBIN ELECTRIC previously released its annual performance, with a total operating income of 38.721 billion RMB, an increase of 32.38% year-on-year; net profit attributable to the parent company was 1.686 billion RMB, an increase of 193.27% year-on-year. The increase in profit is mainly due to the company's vigorous market development efforts, a significant increase in operating income compared to the same period last year, and an improvement in product gross profit margin compared to the same period last year. Guoyuan International pointed out that the company's low-priced coal power early orders have been almost completed, and there is still room for future revenue and gross profit margin to increase; hydropower is expected to maintain its revenue growth momentum and current gross profit margin; the future national demand for nuclear power is expected to remain stable, maintaining growth. The company's energy equipment business has signed new orders exceeding expectations, with the current order backlog possibly exceeding 100 billion RMB. The growth of new coal power orders is expected to provide profit growth momentum for the company in the next 2-3 years, while the expectation of new orders for non-fossil energy can provide long-term sustainability for the company's profits. Additionally, the company has repeatedly emphasized in its financial reports that improving overall labor productivity is a key performance indicator.