香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1133） 關於二零二四年度報告的補充公告 茲 提 述 哈 爾 濱 電 氣 股 份 有 限 公 司（「本公司」）日 期 為 二 零 二 四 年 九 月 二十三日之二零二四年中期報告及日期為二零二五年四月十六日之二 零 二 四 年 度 報 告（「該報告」）。除 文 義 另 有 所 指 外，本 公 告 所 用 詞 彙 與 該 報 告 所 界 定 者 具 相 同 涵 義。 本 公 司 謹 此 向 股 東 及 潛 在 投 資 者 提 供 有 關 該 報 告（第15頁）中 管 理 層 論 述 與 分 析 部 分 有 關 募 集 資 金 運 用 情 況 之 進 一 步 資 料。 根 據 二 零 二 四 年 中 期 報 告，截 至 二 零 二 四 年 六 月 三 十 日，本 公 司 於 二 零 ...

南方区域电力市场正式转入连续结算试运行阶段，从之前只是按周、按月等短期开展交易变成可以每天 不间断交易，双方根据需求随时跨省区买卖电力。 核心亮点：22万市场主体、日交易38亿度，关注电力交易多元化主体资产重估可能。此次启动连续结算 试运行后，南方区域电力市场同步实现广东、广西、云南、贵州、海南五省区电力现货市场全覆盖，22 万市场主体同台竞价，市场将释放更真实、更稳定的价格信号。标志着中国电力市场化改革迈入"自由 交易"的新纪元。 业内人士认为，迎峰度夏拉动电力需求增长，叠加中报季即将来临以及全国统一电力市场建设加速推进 带来的积极影响，机构当下建议重视对电力板块的配置。除看好水电、火电、绿电等细分方向外，制冷 剂、煤炭等与制冷、发电相关的板块同样值得投资者关注。 智通财经APP获悉，中国国家发改委政策研究室副主任李超26日在新闻发布会上介绍，中国正着力提升 电力保供能力，今年迎峰度夏电力供需形势好于去年，全国电力供需平衡总体有保障。 2025/06国家电网总经理庞骁刚在国新办新闻发布会上表示，深化"AI+抢修"应用。国家能源集团储能项 目：山东蓬莱的205兆瓦时复合储能电站，通过AI模型监测电池状态和能源 ...

除数转智改外，黄伟同样令哈电集团构建了发展新质生产力"绿色、低碳、高端、数字"四位一体的科技 创新体系。在2024年5月召开的哈电集团第五届科技创新大会上，他系统地阐释了技术攻关体系化、人 才机制革新、产学研深度融合的综合发展路径。 6月27日，哈尔滨电气集团有限公司董事长、党委书记调整：黄伟担任哈尔滨电气集团有限公司董事 长、党委书记，免去其哈尔滨电气集团有限公司总经理职务。 公开信息显示，黄伟曾担任中国东方电气集团公司进出口公司副总经理、总经理，中国东方电气集团公 司副总经理，国家核电技术公司副总经理，中国东方电气集团有限公司副总经理、党组副书记，东风汽 车集团有限公司董事、党委副书记等职。2023年4月，黄伟任哈尔滨电气集团有限公司总经理、党委副 书记。 2025年初，哈电集团年度数字化转型推进工作会上，时任总经理的黄伟部署新一年数字化战略："要深 耕智能制造，全力推动高端化、智能化、绿色化发展；要积极布局人工智能技术应用，打造新质生产 力。" 2023年至2025年，是哈电集团数字化转型从规划到落地的关键跃升期。作为主导者之一的黄伟在2024年 1月的数字化工作会议上，明确提出"数字化赋能新型工业化" ...

登录新浪财经APP 搜索【信披】查看更多考评等级 是本公司股东。 （2） 公司董事、监事、高级管理人员。 （3） 公司聘请的律师。 8. 会议地点：黑龙江省佳木斯市前进区长安路247号公司1号楼527会议室。 二、会议审议事项 ■ 1.上述提案经公司第十届董事会第二次会议、第十届监事会第二次会议审议通过，具体内容详见同日刊 登于指定信息披露媒体《上海证券报》《证券时报》《中国证券报》及巨潮资讯网 （www.cninfo.com.cn）上的相关公告。 2.其中提案1、2为股东大会特别决议事项，由出席股东大会的股东（包括股东代理人）所持表决权的三 分之二以上通过。 3.其中提案3为关联交易提案，关联股东哈尔滨电气集团有限公司、佳木斯电机厂有限责任公司需回避 表决。 4.其中提案4采用累积投票制，股东所拥有的选举票数为其所持有表决权的股份数量乘以应选人数，股 东可以将所拥有的选举票数以应选人数为限在候选人中任意分配（可以投出零票），但总数不得超过其 拥有的选举票数。 5．上述提案将对中小投资者的表决票单独计票，并及时公开披露。中小投资者是指单独或者合计持有 公司5%以下股份的股东（不包含持股5%以上股东及公司董事、 ...

中央决定：黄伟任哈尔滨电气集团有限公司董事长、党委书记 智通财经6月27日电，哈尔滨电气集团有限公司召开中层以上管理人员大会。中央组织部有关负责同志 宣布了中央关于哈尔滨电气集团有限公司董事长、党委书记调整的决定：黄伟同志任哈尔滨电气集团有 限公司董事长、党委书记，免去其哈尔滨电气集团有限公司总经理职务；免去曹志安同志的哈尔滨电气 集团有限公司董事长、党委书记职务。相关职务任免按有关法律和章程的规定办理。 ...

Financial Performance - For the fiscal year 2024, the company achieved a revenue of RMB 38.30 billion, representing a year-on-year growth of 32.79%[12] - The net profit attributable to the parent company was RMB 1.69 billion, an increase of 193.33% compared to the previous year[12] - The total profit reached RMB 2.02 billion, significantly up from RMB 769 million in 2023[9] - In 2024, the company achieved a net profit of RMB 168,557 million, an increase of RMB 111,081 million year-on-year, with earnings per share of RMB 0.754[26] - The company's operating revenue for 2024 was RMB 3,829,785 million, representing a year-on-year growth of 32.79%, with new power equipment revenue at RMB 2,698,677 million, up 71.38%[27] - Operating costs increased by 29.66% year-on-year to RMB 3,350,076 million, primarily due to a significant rise in production of turbines and boilers[28] - Gross profit reached RMB 479,708 million, a year-on-year increase of RMB 179,377 million, with a gross margin of 12.53%, up 2.11 percentage points[29] Contracts and Market Expansion - The company signed formal contracts worth RMB 56.87 billion during the year, marking a 30.55% increase year-on-year[12] - In 2024, the company achieved a formal contract signing amount of RMB 56.872 billion, a year-on-year increase of 30.55%[20] - The new power equipment segment saw a contract signing amount of RMB 34.939 billion, up 42.09% year-on-year, with nuclear power equipment increasing by 139.15% to RMB 4.740 billion[20] - The company aims to expand its international market presence, participating in the "Belt and Road" initiative and exporting products to over 50 countries and regions[8] Research and Development - The company invested 4.93% of its revenue in research and development, with a 100% completion rate for key national science and technology projects[13] - The company's research and development investment reached RMB 1.908 billion in 2024, with an R&D intensity of 4.93%[22] - The company’s R&D expenses totaled RMB 115,205 million, reflecting a strong commitment to innovation with a year-on-year increase of RMB 15,342 million[30] - The company has developed advanced technologies, including a 660 MW ultra-supercritical circulating fluidized bed boiler, achieving international leading standards[13] Assets and Liabilities - The company reported a total asset value of RMB 71.95 billion, with total liabilities of RMB 55.76 billion[9] - Total liabilities as of December 31, 2024, were RMB 5,575,629 million, a decrease of RMB 95,286 million from the beginning of the year, resulting in a debt-to-asset ratio of 77.50%[34] - As of December 31, 2024, total assets were RMB 7,194,616 million, an increase of 0.91% from the beginning of the year, with current assets making up 83.69% of total assets[33] Corporate Governance and Leadership - The company reported a significant leadership change with the resignation of Mr. Shen as executive director, effective January 2025[47] - The company has seen a transition in its board with the resignation of Mr. Hu and Mr. Tang as independent non-executive directors in November 2024[52] - The company’s board of directors is committed to maintaining high levels of corporate governance, which is crucial for long-term success and sustainable development[133] - The board of directors consists of 7 members, including 4 independent non-executive directors as of December 31, 2024[137] Employee and Training Initiatives - The company has a total of 11,415 employees, with 15.87% being female and 28.33% under the age of 35[75] - The company organized 981 training sessions in 2024, totaling 62,300 participants[76] - The company has implemented a policy to treat all employees equally, with no discrimination based on gender, race, age, or disability[167] Compliance and Risk Management - The company has established a comprehensive compliance risk control system covering all employees and areas[69] - The company reported no significant non-compliance with laws and regulations affecting its business in 2024[71] - The company has strengthened information disclosure and investor relations management, ensuring timely release of interim and annual reports[175] - The company has implemented a comprehensive risk management and internal control system, which was reviewed and confirmed effective as of December 31, 2024[176] Future Outlook and Strategic Plans - The company plans to enhance its industrial layout and focus on high-end, green, and intelligent development in response to increasing electricity demand[14] - By the end of 2025, the total installed power generation capacity in China is expected to exceed 3.8 billion kilowatts, representing a year-on-year growth of approximately 14%[40] - The company aims to enhance development efficiency and competitiveness while ensuring energy supply and risk management capabilities during the 14th Five-Year Plan period[41] - Future guidance indicates a revenue growth target of 15% for the upcoming fiscal year, driven by new product launches and market expansion efforts[58]

Financial Performance - Total operating revenue for the year ended December 31, 2024, reached CNY 38.72 billion, a 32.3% increase from CNY 29.25 billion in 2023[8]. - Net profit attributable to the parent company for 2024 was CNY 1.69 billion, up 194.1% from CNY 574.76 million in 2023[9]. - The total profit for the year was CNY 2.02 billion, a 162.4% increase from CNY 769.01 million in 2023[9]. - Basic and diluted earnings per share for 2024 were both CNY 0.75, significantly higher than CNY 0.31 in 2023[10]. - The company reported a total operating cost of CNY 37.43 billion for 2024, which is a 27.3% increase from CNY 29.41 billion in 2023[8]. - The company achieved a net profit margin of 30.11% based on the proposed dividend distribution relative to earnings per share for 2024[46]. Assets and Liabilities - As of December 31, 2023, the company's total current assets amounted to RMB 60,626,585,688.76, slightly increasing from RMB 60,208,795,230.03 in the previous year[3]. - The total assets of the company reached RMB 71,946,155,154.17 as of December 31, 2024, compared to RMB 71,296,954,272.71 in 2023, marking a slight increase of 0.9%[4]. - Total liabilities decreased to CNY 55,756,293,925.45 from CNY 56,709,158,680.13, showing a reduction of approximately 1.7%[6]. - The company's long-term equity investments rose from RMB 856,602,278.38 in 2023 to RMB 889,675,508.19 in 2024, an increase of approximately 3.9%[4]. - The company's cash and cash equivalents decreased from RMB 18,677,316,557.23 in 2023 to RMB 16,048,827,239.42 in 2024, representing a decline of approximately 11.6%[3]. Equity and Reserves - Total equity attributable to shareholders increased to CNY 15,482,762,134.00 from CNY 13,864,702,149.07, representing a growth of about 11.7%[7]. - Undistributed profits rose to CNY 6,823,254,033.56 from CNY 5,255,688,935.55, indicating an increase of approximately 29.8%[7]. - The company has allocated ¥956,816,359.27 for surplus reserves, which increased by ¥16,194,078.64[17]. - The total comprehensive income for the year was reported at ¥13,864,702,149.07, down by ¥5,239,212.02 compared to the previous period[17]. Cash Flow - Operating cash inflow from business activities increased to CNY 48.40 billion in 2024 from CNY 41.90 billion in 2023, representing a growth of approximately 15.9%[12]. - Cash outflow from operating activities totaled CNY 48.64 billion in 2024, compared to CNY 39.62 billion in 2023, indicating an increase of about 22.8%[13]. - Net cash flow from operating activities turned negative at CNY -241.97 million in 2024, a decline from CNY 2.28 billion in 2023[14]. - Cash inflow from financing activities decreased significantly to CNY 1.36 billion in 2024 from CNY 4.45 billion in 2023, a decline of approximately 69.5%[15]. Market and Strategic Focus - The company is focusing on expanding its market presence and enhancing product offerings through strategic investments and technological advancements[5]. - Future strategies include potential market expansion and product development initiatives to drive growth[18]. - The company plans to focus on market expansion and new product development in the upcoming year[19]. - The company is exploring potential mergers and acquisitions to enhance market position and drive growth[19]. Research and Development - Research and development expenses increased to CNY 1.15 billion in 2024, compared to CNY 998.63 million in 2023, reflecting a growth of 15.4%[8]. - The company aims to enhance its research and development efforts in new technologies to drive future growth[39]. - The company’s R&D investment for 2024 was RMB 1.908 billion, with an R&D intensity of 4.93%[54]. Governance and Compliance - The company has fully complied with the corporate governance code and has implemented various social responsibility initiatives[93]. - The board of directors includes key executives and independent non-executive directors, ensuring governance and oversight[100]. - The company has received annual confirmation letters regarding the independence of each independent non-executive director, confirming their continued independence[78]. Future Outlook - Future guidance indicates a cautious outlook due to recent financial performance trends[19]. - The company plans to invest RMB 1.469 billion in 2025 for key construction and technological transformation projects[56]. - The company is committed to high-quality development and achieving a higher level of operational standards[98].

Financial Performance - Total operating revenue for the year ended December 31, 2024, reached CNY 38.72 billion, a 32.3% increase from CNY 29.25 billion in 2023[8]. - Net profit attributable to the parent company for 2024 was CNY 1.69 billion, up 194.4% from CNY 574.76 million in 2023[9]. - The company reported a total profit of CNY 2.02 billion for 2024, a significant increase from CNY 843.80 million in 2023[9]. - Basic and diluted earnings per share for 2024 were both CNY 0.75, compared to CNY 0.31 in 2023, representing a 141.9% increase[10]. - Total operating costs for 2024 were CNY 37.43 billion, up from CNY 29.41 billion in 2023, marking a 27.3% increase[8]. - The total comprehensive income for 2024 was CNY 1.75 billion, compared to CNY 441.85 million in 2023, indicating a substantial increase[10]. Assets and Liabilities - As of December 31, 2023, the company's current assets totaled RMB 60.63 billion, slightly up from RMB 60.21 billion in the previous year, indicating a growth of approximately 0.7%[3]. - The total assets of the company reached RMB 71.95 billion, up from RMB 71.30 billion, indicating a growth of approximately 0.9%[4]. - Total liabilities decreased slightly to CNY 55,756,293,925.45 from CNY 56,709,158,680.13, showing a reduction of approximately 1.7%[6]. - The company's total assets increased significantly, reflecting ongoing market expansion and strategic investments[11]. - The company’s total liabilities as of December 31, 2024, were RMB 55,756.29 million, a decrease of RMB 952.86 million from the beginning of the year, resulting in a debt-to-asset ratio of 77.50%[67]. Cash Flow - Operating cash inflow from sales and services reached CNY 44.89 billion, up from CNY 39.89 billion year-over-year, representing a growth of approximately 12.5%[12]. - Net cash flow from operating activities turned negative at CNY -241.97 million, compared to a positive CNY 2.28 billion in the previous year[14]. - The company reported a cash flow from operating activities of -RMB 24.197 million for the period, indicating increased cash expenditures due to production investments[65]. - Total cash and cash equivalents at the end of the period stood at CNY 15.17 billion, down from CNY 17.36 billion, a decrease of approximately 12.6%[15]. Investments and R&D - Research and development expenses increased to CNY 1.15 billion in 2024, compared to CNY 998.63 million in 2023, reflecting a growth of 15.4%[8]. - The company plans to enhance its research and development efforts for new technologies[18]. - The company’s R&D investment for 2024 was RMB 1.908 billion, with an R&D intensity of 4.93%[54]. - The company aims to enhance its research and development efforts to drive future growth and market expansion[39]. Market Strategy and Future Outlook - The company has plans for market expansion and new product development, although specific figures were not disclosed during the call[2]. - Future guidance indicates a focus on enhancing operational efficiency and exploring potential mergers and acquisitions to drive growth[2]. - The company plans to focus on market expansion and new product development in the upcoming year[19]. - Future guidance indicates a cautious outlook due to market volatility and economic conditions[19]. - The company is exploring potential mergers and acquisitions to enhance its market position[19]. Shareholder Information - The company plans to distribute a final dividend of RMB 0.227 per share for the fiscal year 2024, totaling RMB 507,634,652.00, which is 30.11% of the earnings per share[46]. - The final dividend for the fiscal year 2024 will be distributed on July 23, 2025, with a record date from June 16 to June 20, 2025[75]. - There are no known instances of shareholders waiving or agreeing to waive any dividends as of December 31, 2024[74]. Corporate Governance - The board of directors includes key executives and independent non-executive directors[100]. - The company has received annual confirmations regarding the independence of each independent non-executive director as per the listing rules[78]. - As of December 31, 2024, there are no equity interests held by directors, supervisors, or senior management in the company or its related entities[79]. Operational Highlights - The company’s total capital expenditure for key construction and technological transformation projects in 2024 was RMB 1.852 billion[56]. - The company completed 242 patent authorizations in 2024, including 108 invention patents[54]. - The company’s power generation equipment output for 2024 was 27.36 million kilowatts, a year-on-year increase of 1.60%[53].

Investment Rating - The report suggests a positive investment outlook for Harbin Electric, recommending active attention due to the company's profit exceeding expectations [5] Core Insights - The company anticipates a net profit of approximately 1.7 billion RMB for the fiscal year 2024, representing a significant increase of about 196% compared to the previous year's profit of 575 million RMB [1][2] - The growth in profit is attributed to increased demand for thermal and nuclear power equipment, successful management efficiency improvements, and the development of the pumped storage industry [2] - As a leading energy equipment manufacturer in China, Harbin Electric's new energy equipment business achieved revenues of 9.61 billion RMB in the first half of 2024, marking a year-on-year growth of 43.4% [3] - The national electricity consumption is projected to grow by 6.8% in 2024, indicating sustained demand for energy equipment, which benefits the company as a key player in the industry [4] Summary by Sections - **Profit Forecast**: The company expects a net profit of 1.7 billion RMB for 2024, significantly higher than the previously predicted 1.06 billion RMB [2] - **Energy Equipment Business**: Harbin Electric is a major player in the energy equipment sector, with substantial market shares in hydro, thermal, and nuclear power equipment. The new energy equipment business is expected to continue its strong performance into 2025 [3] - **Electricity Demand**: The national electricity consumption is projected to reach 98,521 billion kWh in 2024, with a year-on-year increase of 6.8%, supporting ongoing demand for the company's products [4]

Investment Rating - Buy rating with a target price of HKD 3.20, representing a 35% upside from the current price of HKD 2.37 [2][5] Core Views - The company's energy equipment business has shown a recovery in profitability, with strong growth momentum expected in the future [2] - Revenue in H1 2024 increased by 25.6% YoY to RMB 17.04 billion, while net profit surged by 515.7% YoY to RMB 523 million [3] - Gross profit rose by 34.0% YoY to RMB 1.95 billion, with gross margin improving by 0.7 pct to 11.4% [3] - New power equipment orders increased by 2.84% YoY to RMB 26.03 billion, with coal/hydro/nuclear power equipment orders at RMB 10.83/4.47/3.06 billion respectively [3] - The company's order backlog is sufficient to support growth in the energy equipment business, with potential for further margin improvement [4] - Hydropower equipment and thermal power flexibility transformation are expected to provide new growth drivers [4] - Operating efficiency has improved, with the combined expense ratio decreasing by 1.2 pct to 8.6% and the debt-to-asset ratio dropping by 2.8 pct to 79.6% [4] Financial Performance - Revenue for 2024E/2025E/2026E is projected at RMB 37.31/43.29/46.12 billion, with YoY growth of 27.6%/16.0%/6.5% [6] - Net profit for 2024E/2025E/2026E is forecasted at RMB 950 million/1.39 billion/1.68 billion, with a 3-year CAGR of 42.5% [5][6] - Gross margin is expected to improve to 15.5%/16.2%/16.3% in 2024E/2025E/2026E, up from 12.1% in 2023 [15] - Net margin is projected to increase to 3.0%/3.9%/4.3% in 2024E/2025E/2026E, compared to 2.1% in 2023 [15] Valuation - The company is trading at a 2024E PE of 7.0x and a TTM PB of 0.5x, which is lower than industry peers [5][13] - Industry peers such as Dongfang Electric and Shanghai Electric are trading at higher PE multiples of 6.4x and 34.2x respectively [13] Growth Drivers - The company is expected to benefit from the development of the energy equipment market, particularly in hydropower and thermal power flexibility transformation [4][5] - The rapid development of pumped storage and the transformation of thermal power flexibility are key growth areas [4] - The company's order backlog and improved order quality are expected to support future revenue growth and margin expansion [4]