Harbin Electric's stock price plummeted 5.02% during intraday trading on Monday, reflecting significant selling pressure.

The sharp decline follows a research report from Citigroup, which lowered its net profit forecast for the company by 4% for next year. The downward revision is primarily attributed to lower expected revenue from coal-fired power generation equipment.

While the report noted positive long-term prospects for nuclear power and that the company's projects in Saudi Arabia remain unaffected by regional conflicts, the immediate negative adjustment to earnings expectations appears to have driven the sell-off.