On May 21, Harbin Electric fell 5.07% in regular trading, trading at HK$21.34/share, with trading volume of HK$87.65 million.

On the news front, the Heavy Electrical Equipment sector extended its collective pullback that began on May 14, dragging down Harbin Electric. Within the sector, SH Electric fell 4.39%, Dongfang Electric fell 3.18%, Guoxia Tech fell 7.26%, and Goldwind fell 1.3%. The sustained sector weakness continued to weigh on the stock.

Harbin Electric had previously rallied significantly, driven by the successful full-load test of Chinas first domestically developed 16MW gas turbine natural gas combustor and strong annual results showing revenue of RMB 45.698 billion (up 19.33% YoY) and net profit attributable to shareholders of RMB 2.666 billion (up 58.18% YoY). However, after accumulating substantial short-term gains, the sector entered a correction cycle starting May 14, with the stock price remaining under sustained pressure.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)