HK Stock Market Move | Harbin Electric (01133) rises nearly 6% again, with a total increase of over 50% since its profit announcement. The company expects its annual net profit to increase nearly 2 times year-on-year.

Harbin Electric (01133) rose nearly 6% again, with a cumulative increase of over 50% since the profit announcement in January. As of the time of writing, it rose by 4.53% to 3.92 Hong Kong dollars, with a turnover of 47.7188 million Hong Kong dollars. On the news front, Harbin Electric announced on January 22nd that it expected a net profit of approximately 1.7 billion yuan for the 2024 fiscal year, an increase of about 196% compared to the same period last year. The main reason is the significant increase in operating income in the 2024 fiscal year compared to last year, and the company's efforts to improve quality and efficiency have achieved positive results. In addition, Huayuan Securities pointed out that the "Guiding Opinions on Energy Work in 2025" has some changes in the expression of new energy, with high-quality development as the focus. It is expected that the country will enhance the quality of development of the new energy industry in aspects such as electricity market construction, promoting new energy consumption, strengthening grid construction, and increasing hydrogen energy utilization, and pay attention to the development performance of traditional power sources this year. The bank pointed out that coal, gas, pumped storage, and nuclear power are all expected to reach new highs in recent years, driving the rapid growth of related equipment manufacturers' performance.