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Chinese state-owned maker of power generation equipment, including turbines and generators for thermal, hydro and nuclear plants.
Chinese state-owned maker of power generation equipment, including turbines and generators for thermal, hydro and nuclear plants.
Builds large turbines and generators to order, with delivery stretching over a year or more, so sales follow orders placed years earlier by utilities. Its domestic peers are Dongfang Electric and Shanghai Electric, and the three share China's market for large power equipment. A state-owned parent controls the company.
Moat: narrow (scale, installed base, regulatory licence). State-backed scale and installed base across China's power plants, but faces domestic peer competition.
Headquarters: Harbin, China · Founded: 1951 · Employees: 11,487
Size Harbin Electric (1133.HK) is a Hong Kong Industrials company (Electrical Products) with a market value of $3.27B, the 327th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$11.48 on 6 Nov 2026.
Performance Over six months the shares fell 54.0%, against -31.2% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 5th lowest of 19 in its peer set.
Growth Revenue grew 13.5% over the last twelve months (peer median +23.8%); the operating margin is 7.1% (peer median 8.9%).
Valuation It trades at 6.2× forward earnings against a peer median of 19.6× (cheapest of 20).
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$54.1B | HK$49.8B | HK$41.9B | HK$32.2B | HK$28.9B |
| Revenue growth | — | +19% | +30% | +12% | — |
| Gross profit | HK$8.56B | HK$7.12B | HK$5.29B | HK$3.51B | HK$3.35B |
| EBITDA | HK$4.96B | HK$3.99B | HK$2.97B | HK$1.50B | HK$1.00B |
| Net income | HK$3.73B | HK$2.89B | HK$1.83B | HK$635M | HK$115M |
| Free cash flow | HK$7.05B | HK$3.13B | -HK$2.06B | HK$1.35B | HK$5.20B |
| Capital expenditure | HK$1.85B | HK$1.92B | HK$1.83B | HK$1.20B | HK$434M |
| Total debt | n/a | HK$8.42B | HK$9.47B | HK$14.8B | HK$17.3B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Harbin Electric 1133.HK | $3.27B | -54% | +13% | 7% | 6.2× | n/a |
| Dongfang Electric 1072.HK | $13.1B | -56% | +7% | 5% | 10.4× | n/a |
| Shanghai Electric 2727.HK | $12.2B | -40% | +22% | n/a | 21.7× | -2.8% |
| GE Aerospace GE | $334B | +9% | +20% | 18% | 36.4× | 27.6% |
| Siemens Energy ENR.DE | $111B | -33% | +9% | 9% | 26.4× | 17.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 1133.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.2% | -11.5% | 9th lowest of 21 |
| 6-month return | -54.0% | -31.2% | 5th lowest of 19 |
| Distance from 52-week high | -60.2% | -46.7% | 6th lowest of 21 |
| Revenue growth (TTM) | +13.5% | +23.8% | 5th lowest of 21 |
| Operating margin | 7.1% | 8.9% | 9th lowest of 21 |
| Forward P/E | 6.2× | 19.6× | cheapest of 20 |
| EV / EBITDA | 1.3× | 11.9× | cheapest of 9 |
| Net debt / EBITDA | -4.1× | 0.2× | least indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Harbin Electric 1133.HK | Hong Kong | $3.27B | -54% | +13% | 7% | 6.2× | n/a | n/a |
| T&S Communications 300570.SZ | China | $3.36B | -25% | +40% | 18% | 47.3× | 43.8% | +21.8% |
| Taiyo 4626.T | Japan | $3.36B | -5% | +18% | 25% | 17.0× | 5.0% | +11.2% |
| Maruwa 5344.T | Japan | $3.12B | -46% | +26% | 36% | 19.5× | n/a | n/a |
| Luoyang Bearing 301699.SZ | China | $3.45B | n/a | +29% | 11% | n/a | n/a | n/a |
| Dhoot Transmission DHOOTTRANS.NS | India | $3.46B | n/a | +31% | 13% | 52.6× | n/a | n/a |
| Zhefu 002266.SZ | China | $3.09B | -26% | +27% | 8% | 9.3× | n/a | n/a |
| Sany Renewable Energy 688349.SS | China | $3.50B | -22% | +30% | 2% | 21.7× | n/a | n/a |
| LS 006260.KS | South Korea | $3.51B | -62% | +30% | 4% | 8.0× | n/a | n/a |
| CALB 3931.HK | Hong Kong | $3.57B | -59% | +80% | 7% | 8.1× | n/a | n/a |
| Shenzhen Woer Heat-Shrinkable Material 002130.SZ | China | $2.98B | -37% | +20% | 15% | 16.4× | 1.8% | +15.6% |
| TDG 600330.SS | China | $2.96B | -43% | +21% | -19% | 320.4× | n/a | n/a |
| Shanghai Moons Electrical 603728.SS | China | $3.66B | -1% | +22% | 4% | 183.9× | n/a | n/a |
| Wuhan Raycus Fiber Laser Technologies 300747.SZ | China | $3.67B | +22% | +16% | 6% | 76.8× | n/a | n/a |
| Dajin Heavy Industry 002487.SZ | China | $3.71B | -60% | -2% | 19% | 19.6× | n/a | n/a |
| Zhuhai CosMX Battery 688772.SS | China | $2.88B | +2% | +18% | -2% | 144.1× | n/a | n/a |
| Hainan Jinpan Smart Technology 688676.SS | China | $3.75B | -38% | +12% | 10% | 29.4× | 28.5% | +24.7% |
| Time Interconnect Technology 1729.HK | Hong Kong | $2.84B | -57% | +84% | 7% | 10.8× | n/a | n/a |
| Mabuchi Motor 6592.T | Japan | $2.84B | +18% | +12% | 12% | 17.9× | 5.8% | +11.5% |
| Ming Yang Smart Energy 601615.SS | China | $2.80B | -47% | +8% | -4% | 19.4× | n/a | n/a |
| Shenzhen Senior Technology Material 300568.SZ | China | $2.80B | -23% | +45% | 10% | 27.4× | n/a | n/a |