HK Stock Market Move | Harbin Electric (01133) falls more than 8%; currently not in negotiations with overseas customers on potential sales of gas turbines.
Harbin Electric (01133) fell more than 8%, dropping 8.56% to HK$21.8 as of the time of publication, with a turnover of HK$2.07 billion.
HARBIN ELECTRIC (01133) fell more than 8%, as of the time of publication, dropping by 8.56% to HK$21.8 with a turnover of HK$207 million.
On the news front, a Citigroup research report pointed out that potential catalysts for HARBIN ELECTRIC are limited. The bank stated that, according to management, HARBIN ELECTRIC is not currently in negotiation with overseas customers for potential gas turbine sales. Its independently developed 16-megawatt gas turbine is expected to complete testing in the second half of 2026, after which it can meet commercial conditions. The bank believes that HARBIN ELECTRIC needs to secure a demonstration project of a 16-megawatt turbine in the domestic market to collect operating data and complete maintenance cycles before being able to sell overseas.
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