Dongfang Electric H1 2026 Net Profit Surges 42%, New Orders Hit 69.88 Billion

Dongfang Electric Corporation Limited (Dongfang Electric) released its unaudited interim results for the six months ended 30 June 2026.

Revenue edged up 1.24 % year on year (YoY) to 38.62 billion yuan, while gross profit improved, driving net profit attributable to shareholders to 2.71 billion yuan, a 42.07 % YoY increase. Basic and diluted earnings per share rose to 0.78 yuan from 0.60 yuan.

By business line, Energy Equipment Manufacturing contributed 29.45 billion yuan of revenue (76.17 % of the total) with a gross margin of 14.08 %; Manufacturing Services generated 6.27 billion yuan (16.25 %) with a gross margin of 32.63 %; Emerging Industries recorded 2.91 billion yuan (7.54 %) with a gross margin of 11.02 %.

New orders climbed 6.71 % YoY to 69.88 billion yuan, of which Energy Equipment accounted for 69.46 %, Manufacturing Services 20.71 % and Emerging Industries 9.82 %.

Operating cash flow posted an outflow of 1.72 billion yuan, versus an outflow of 0.56 billion yuan a year earlier, mainly due to seasonal factors in the wind-power segment. Net cash from investing activities turned positive at 3.83 billion yuan, helped by the maturity of interbank certificates of deposit.

Total assets reached 164.23 billion yuan; equity attributable to shareholders stood at 46.12 billion yuan, up 1.95 % from end-2025. The gearing ratio decreased slightly to 70.18 %. Cash and cash equivalents rose 21.47 % to 27.55 billion yuan.

R&D expenditure amounted to 1.42 billion yuan, representing 3.67 % of revenue. Major projects included gas-turbine rotor capacity upgrades and pumped storage technology enhancement.

Capital commitments signed but not yet executed totalled 1.10 billion yuan, covering infrastructure and equipment purchases.

The board declared no interim dividend. Management reiterated its focus on premium-quality strategy, digital transformation and expansion in emerging businesses for the remainder of 2026.