China’s Power Equipment A-share Firms Report Mixed Mid-year Results Amid Strong New-energy Demand

According to Wind, all 156 A-share listed businesses within China’s power equipment sector have released their 2026 half-year financial statements. 96 of these companies registered year-on-year rises in operating revenue, while 60 posted growth in attributable net profit.

According to Securities Daily, the power equipment sector delivers solid overall revenue and profit performance in the first half of the year. Large established players maintain robust operational scale, and a substantial number of enterprises record multi-fold profit increases, bringing prosperity across the industry, though clear divergence emerges between different segments.

Twenty-two firms achieve operating revenue above 10 billion yuan in the six-month period. Shanghai Electric Group Co., Ltd, TBEA Co., Ltd and Dongfang Electric Corporation Limited take the top three spots in revenue rankings, recording 63.031 billion yuan, 56.555 billion yuan and 38.123 billion yuan respectively. The leading enterprises hold steady operations and retain clear scale advantages. As a sector leader, Shanghai Electric secures new orders worth 100.39 billion yuan in the first half, with energy equipment orders accounting for the largest share at 64.24 billion yuan.

Eleven listed companies generate attributable net profit exceeding 1 billion yuan. Sungrow Power Supply Company Limited ranks first with a figure of 5.259 billion yuan. Chint Electrics Co., Ltd and NARI Technology Co., Ltd follow in second and third place, registering attributable net profits of 3.130 billion yuan and 3.073 billion yuan.

Even as the broader industry enjoys rising prosperity, some established heavy equipment giants maintain stable revenue lines yet see weaker profit performance compared with enterprises operating in new energy tracks. Slower growth in traditional business lines and intensifying market competition create a marked divide between mature and emerging segments.

Large-scale installation of new energy capacity unlocks expanding markets for wind and solar auxiliary hardware plus energy storage products. Construction of the new-type power system drives upgrades to power grids, with steady order releases for ultra-high voltage and flexible transmission equipment, forming the core demand foundation of the sector.

Sharp rises in energy storage installation volumes push up both revenue and profit for businesses in this niche, making it one of the most dynamic growth areas across the power equipment industry. Surging demand within emerging tracks acts as a core factor driving performance gaps among listed firms. Rapid expansion in AI computing infrastructure fuels fast-rising demand for AIDC high-voltage DC power supply and intelligent power distribution hardware, creating a fresh growth curve for power equipment manufacturers. Overseas market demand continues to recover. Coupled with domestic technological upgrades and cost competitiveness, export volumes of Chinese power equipment will maintain steady expansion.