HK Stock Connect Insight | HARBIN ELECTRIC (01133.HK) changes principal place of business in Hong Kong; southbound holding ratio rises to 1.47%, holdings worth about HKD124 million
- Stock Connect inclusion: The company was included in the eligible securities list for Stock Connect on September 7, 2026, based on the Shenzhen Stock Exchange announcement published the same day, titled "Announcement on the Adjustment of the List of Eligible Securities for Southbound Trading under Shenzhen-Hong Kong Stock Connect". The Shanghai-Hong Kong Stock Connect took effect concurrently.
- Southbound holdings climb: Southbound holdings rose to 10.022 million shares as of October 16, representing 1.47% of H share capital, with a net addition of 120,000 shares in a single day.
NewTimeSpace News: Harbin Electric Company Limited (01133.HK) announced on October 13, 2026 that with effect from October 14, the company's principal place of business in Hong Kong has been changed to Unit 1002, 10/F, 100 Queen's Road Central, Central, Hong Kong.
In the Hong Kong market, the H shares of Harbin Electric fell before recovering over the past five trading sessions. On October 15, the shares closed at HKD12.05, down 5.42% in a single day, on volume of 9.364 million shares and turnover of about HKD113 million, with a turnover ratio of 1.39%. On October 16, the shares recovered to close at HKD12.36, up 2.57%, on turnover of about HKD42 million. The shares continued to edge lower intraday on October 20, trading at HKD11.98 as of 13:45, down 3.96%.
On southbound holdings, Harbin Electric was included in the Stock Connect list on September 7, 2026. According to Choice data, southbound holdings stood at 4.63 million shares on September 9, representing 0.68% of H share capital, with holdings worth HKD73.3855 million. The holding ratio rose continuously thereafter, reaching 10.022 million shares, or 1.47%, as of October 16, with a net addition of 120,000 shares in a single day.
On fundamentals, the company released interim results on August 26, prepared under China Accounting Standards for Business Enterprises and presented in Renminbi. Revenue for the first half of 2026 was RMB24.799 billion, up 10.35% year on year. Net profit attributable to owners of the parent was RMB1.718 billion, up 63.47%. Gross margin was 15.00%, an increase of 2.95 percentage points. By business segment, new power equipment generated revenue of RMB15.941 billion and clean and efficient industrial systems RMB2.621 billion. On the order side, formal contract signings for the period totalled RMB36.040 billion, up 1.35% year on year, of which new power equipment accounted for RMB27.102 billion, up 41.19%, and nuclear power equipment RMB2.686 billion, up 209.80%. Engineering, contracting and trade signings fell 71.73% to RMB2.964 billion, mainly because a large-scale engineering contracting project in Saudi Arabia took effect and was executed in the same period a year earlier, with no comparable new project taking effect this period. The Company does not recommend the payment of an interim dividend.
On institutional research, Guoyuan International noted in its report published on August 28 that the company has a complete industrial layout across coal-fired, hydro and nuclear power generation equipment, that new power equipment orders grew rapidly in the first half with particularly strong growth in coal-fired and nuclear orders, and that production ramp-up, cost control and an improved project mix together drove higher gross and net margins, as corroborated by growth in contract liabilities and operating cash flow during the period. The company said it has entered a stage where improving order quality is being converted into accelerating revenue and profit.
