Stock Track | Harbin Electric Soars 5.06% Intraday on Strong Earnings and Robust Gas Turbine Demand

Stock Track05-12

Harbin Electric's stock soared 5.06% during intraday trading on Tuesday, driven by multiple positive catalysts including strong annual financial results and robust global demand for gas turbine equipment.

The company reported annual revenue of RMB 45.698 billion, representing a 19.33% year-over-year increase, while net profit attributable to shareholders surged 58.18% to RMB 2.666 billion. Additionally, a Citi research report highlighted that GE Vernova's first-quarter gas power equipment orders and reserved capacity reached 21GW, with total backlog climbing to 100GW, reflecting strong global demand that supports Harbin Electric's business outlook.

Further boosting market confidence is the company's self-developed 16MW gas turbine, which is expected to complete testing in the second half of the year. The Heavy Electrical Equipment sector also traded broadly higher, creating sector-wide momentum that contributed to Harbin Electric's gains.

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