On July 30, HARBIN ELECTRIC declined 5.78% intraday, trading at 14.68 HKD/share, with turnover of approximately 46.99 million HKD, extending the pullback that began earlier in the week.
On the news front, Citi recently cut its target price on HARBIN ELECTRIC by 20% from 30 HKD to 24 HKD while maintaining a Buy rating, citing a 12x forward P/E for fiscal year 2027. The bank raised its net profit forecasts for 2026-2028 by 2%-8% to reflect better-than-expected first-half results. Additionally, the parent company Harbin Electric Group disclosed that its former discipline inspection committee secretary was expelled from the party for severe violations and referred to judicial authorities. The heavy electrical equipment sector remains broadly under pressure, with DONGFANG ELEC down 5.3%, SH ELECTRIC down 4.0%, GOLDWIND down 2.67%, and DAJIN down 1.89%. The stock had surged over 24% on July 21 following a profit alert showing H1 net profit of approximately RMB 1.7 billion, up 61.9% year-over-year, and the ongoing decline appears linked to profit-taking sentiment following that rally.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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