Harbin Electric (01133) announced interim results, with net profit of 1,718 billion yuan to mother, an increase of 63.5% over the previous year

According to the Zhitong Finance App, Harbin Electric (01133) announced its 2026 interim results, with total operating revenue of 24.997 billion yuan, up 10.1% year on year; net profit attributable to owners of the parent company was 1,718 billion yuan, up 63.5% year on year; basic earnings per share were 0.77 yuan.

In the first half of 2026, the company achieved formal contracts of 36.040 billion yuan, up 1.35% year on year, of which new electric power equipment was 27.102 billion yuan, up 41.19% year on year (including coal power equipment was 16.014 billion yuan, up 41.89% year on year; hydropower equipment was 6.312 billion yuan, up 5.27% year on year; nuclear power equipment was 2,686 billion yuan, up 209.80% year on year); green and low-carbon driving equipment, down 34.31% year on year; clean and efficient industrial systems, up 20.66 billion yuan year on year 15.29%; general engineering contracting and trade amounted to 2,964 billion yuan, a year-on-year decrease of 71.73%; modern manufacturing services amounted to 3.661 billion yuan, a year-on-year decrease of 1.40%. In the first half of 2026, the company achieved export orders of 4.862 billion yuan, a year-on-year decrease of 59.05%.

The main reason for the sharp year-on-year increase in the amount of formal contracts signed for coal power and nuclear power equipment was the formal entry into force and execution of the previous bid and signed projects; the reason for the sharp year-on-year decline in the amount of formal contracts and export orders for general engineering and trade was that the company's large-scale general engineering general contracting projects in Saudi Arabia were officially implemented in the same period last year, and no large-scale general engineering projects of a similar scale were effectively implemented during the same period of this year.