Harbin Electric records strong profit growth in first half of 2026
Power plant equipment maker Harbin Electric Co. Ltd. (1133.HK) said on Monday it expects to report a profit of about 1.7 billion yuan ($251 million) for the first half of this year, up 62% from the 1.05 billion yuan profit it reported in the year-ago period.
The company attributed the strong increase to growing revenue, which led to better efficiency and a higher gross profit margin.
Harbin Electric’s revenue rose 19.1% to 46.1 billion yuan last year from 38.7 billion yuan in 2024, while its profit rose 58% to 2.67 billion yuan from 1.69 billion yuan over that period. The company has benefitted from a buildup in new power plants as part of China’s drive to get more electricity from renewable sources.
Harbin Electric’s stock has more than doubled over the last year, though it is down 21% so far this year.
By Doug Young
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