Harbin Electric's profit doubles on strong revenue and export growth

Harbin Electric Company Limited achieved an operating revenue of RMB22,474.01 million for the six months ended June 30, 2025, a 31.86% increase year-on-year. Net profit attributable to owners of the parent company more than doubled, reaching RMB1,050.89 million, a 101.06% increase from the prior year. Earnings per share rose to RMB0.47, up RMB0.24. The company's total equity attributable to owners of the parent company stood at RMB16,122.70 million, an increase of RMB639.94 million from the beginning of the year.

The company secured formal contracts worth RMB35.561 billion, a 36.64% year-on-year increase. Export contracts also saw a significant surge, reaching RMB11.874 billion, a 945.25% increase, largely due to large-scale EPC projects in Saudi Arabia. Product output capacity increased by 39.05% to 20,120 MW. Despite an increase in operating cost to RMB19,766.18 million, the gross profit margin improved to 12.05%, up 0.70 percentage points from the previous year.

Cash flow from operating activities dramatically increased to RMB3,192.09 million, indicating improved payment collection. The board did not recommend an interim dividend for the period.