Group 1: Company Performance - Harbin Electric reported a total revenue of approximately 22.696 billion yuan, representing a year-on-year increase of 31.49% [1] - The net profit attributable to the parent company was approximately 1.051 billion yuan, showing a year-on-year growth of 101.06% [1] - The company achieved a formal contract signing amount of 35.561 billion yuan, an increase of 36.64% year-on-year [1] Group 2: Segment Performance - New power equipment revenue was 19.195 billion yuan, a decrease of 1.39% year-on-year [1] - Green low-carbon driven equipment revenue was 376 million yuan, down 39.65% year-on-year [1] - Clean and efficient industrial systems revenue was 1.792 billion yuan, a decline of 33.08% year-on-year [1] - Engineering contracting and trade revenue surged to 10.485 billion yuan, an increase of 3,618.09% year-on-year [1] - Modern manufacturing services revenue reached 3.713 billion yuan, up 24.76% year-on-year [1] Group 3: Export Orders - The company achieved export orders of 11.874 billion yuan, reflecting a significant year-on-year increase of 945.25% [1] Group 4: Analyst Ratings and Projections - UBS initiated a "Buy" rating for Harbin Electric with a target price of 9.6 HKD, forecasting a compound annual growth rate of 19% in earnings per share from 2024 to 2029 [2] - The firm anticipates a 25% average annual growth rate in gross profit for nuclear equipment in China from 2025 to 2028 [2] - Each new small modular reactor (SMR) is expected to provide approximately 620 million yuan in revenue upside for Harbin Electric [2]