Shares of Harbin Electric (01133) surged 10.18% in intraday trading on Tuesday, following the company's announcement of an expected significant increase in its first-half profit for 2025.
The power equipment manufacturer released a statement to the Hong Kong Stock Exchange on Monday, projecting a substantial rise in its attributable profit for the six months ended June 30. This positive financial outlook appears to have sparked strong investor interest, driving the stock's impressive rally.
According to the company's filing, Harbin Electric anticipates an attributable profit of 1.02 billion yuan for the first half of 2025, nearly doubling the 523 million yuan reported in the same period last year. This projected 95% year-over-year increase in profit has evidently boosted investor confidence in the company's financial performance and growth prospects. Harbin Electric stated that it expects to release its full financial results by the end of August, which may provide further insights into the company's improved performance.
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