On August 3, HARBIN ELECTRIC rose 5.77% in regular trading, trading at 16.69 HKD/share, with turnover of 16.59 million HKD. The stock continued its technical recovery alongside a broad sector rally in heavy electrical equipment.
The heavy electrical equipment sector saw collective strength, with DONGFANG ELEC up 7.99%, GOLDWIND up 4.92%, SH ELECTRIC up 4.81%, and DAJIN up 4.17%. HARBIN ELECTRIC had previously experienced a sharp correction of over 12% across three trading days following Citi's 20% target price cut from 30 HKD to 24 HKD and anti-corruption concerns at the parent company. The current rebound reflects ongoing technical repair from oversold levels.
Fundamentally, the company issued a positive profit alert forecasting H1 net profit of approximately 1.7 billion RMB, up 61.9% YoY, driven by steady revenue growth and improved gross margins. Multiple institutions including UBS, Huatai Securities, and BOCI maintain \"Buy\" ratings, citing tailwinds from AI-driven power demand, global grid upgrades, and new energy capacity expansion under China's national planning framework.
(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.)
Comments