On September 9, HARBIN ELECTRIC rose 5.41% in regular trading, trading at HK$15.9/share, with turnover of HK$52.46 million. The stock rebounded sharply after recent pullbacks, driven by news of a major technological milestone and continued recognition of its strong first-half earnings.

On the news front, HARBIN ELECTRIC's subsidiary successfully commissioned the world's first 35kV air-water cooled high-voltage direct-connected synchronous condenser at a CGN wind power project, marking a significant original achievement in core grid-stabilization equipment. The company currently leads this emerging segment with first-mover engineering advantage, having secured 21 distributed synchronous condenser project bids in the first half, covering wind and solar grid-connection scenarios. Competitors such as Dongfang Electric and Shanghai Electric have yet to achieve engineering-stage commissioning.

This breakthrough adds to the company's strong operational momentum. HARBIN ELECTRIC reported first-half attributable net profit of RMB 1.72 billion, up 63.5% year-over-year, with revenue rising 10.35% to approximately RMB 24.8 billion. Gross margin improved by 2.95 percentage points, while operating cash flow nearly doubled. Multiple brokerages including UBS and Citi maintain Buy ratings, citing tailwinds from AI-driven power demand and the national grid upgrade cycle.

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