Dongfang Electric Corp Ltd Class A

China exported its first domestically developed heavy-duty F-class gas turbine today (Aug. 28), as a truck carrying the 50-megawatt G50 turbine, developed by Dongfang Turbine Co., departed from Deyang, Sichuan Province, heading to Kazakhstan. This delivery is part of a contract for three G50 turbines for a combined heat and power plant project in Kazakhstan, signed in November 2025, marking the first overseas order for a Chinese-developed F-class turbine. Li He, deputy general manager of the company, said the firm will provide full-lifecycle maintenance services and customize engineering components, such as the air intake system and rotor shaft assembly, to suit local conditions. F-class turbines operate at temperatures up to 1,400 degrees Celsius and require advanced expertise in over 100 disciplines. Fang Yu, director of the company's national laboratory for clean and efficient turbine energy equipment, said China has made significant strides in gas turbine development, with self-developed models now supporting a maximum capacity of 550 megawatts. This export comes amid surging global demand for gas turbines, partly driven by electricity needs from AI data centers and the global energy transition. Professor Feng Zhenping from Xi'an Jiaotong University noted that supply chain readiness, on-time delivery, and cost advantages will help Chinese manufacturers expand their share of international markets.

Dongfang Electric released its 2026 interim report. Total operating revenue was 38.624 billion yuan, up 1.24% year on year, and net profit attributable to the parent company was 2.713 billion yuan, up 42.07% year on year. Gross margin was 15.82%, up 0.35 percentage points from the same period last year. Return on equity was 5.88%, up 1.38 percentage points from the same period last year. Diluted earnings per share were 0.78 yuan, up 30.00% year on year. The asset-liability ratio was 70.18%, down 0.78 percentage points from the same period last year. The number of shareholders was 218,600, and the top ten shareholders held 65.74% of total share capital.

The State Council executive meeting decided to approve four nuclear power projects totaling eight units: the second phase of the Jinqimen Nuclear Power Plant in Zhejiang, the third phase of the Taipingling Nuclear Power Plant in Guangdong, the first phase of the Zhuanghe Nuclear Power Plant in Liaoning, and the first phase of the Laiyang Nuclear Power Plant in Shandong. This marks the first nuclear project approval of 2026 and the first batch approved during the 15th Five-Year Plan period. Total investment for these new projects will exceed 170 billion yuan. Boosted by the news, the nuclear power concept sector in the A-share market surged against the overall market trend. China Nuclear Engineering, LBT, Jiangsu Shentong, and Zhongyan Technology hit their daily limit up, while Western Metal Materials, Dongfang Electric, and China National Nuclear Corporation Technology followed with gains. China Galaxy Securities estimates that the eight domestically produced million-kilowatt third-generation nuclear units involve investment of over 170 billion yuan, which could drive total output of related industrial chains to approximately 500 billion yuan, directly benefiting the entire chain including nuclear equipment manufacturing, nuclear island construction, nuclear fuel cycle, and operation and maintenance. Caitong Securities believes this approval confirms the trend of large-scale and regularized nuclear power construction during the 15th Five-Year Plan period, continuously strengthening the sector's medium- to long-term prosperity and growth certainty.

With today as the record date, a total of 19 A-share companies are about to implement their 2025 dividend plans. Among them, 10 companies have a cash dividend of 1 yuan or more per 10 shares. Dongfang Electric offers the most generous payout at 5.30 yuan per 10 shares, followed by Sichuan Road and Bridge and Yankuang Energy, which distribute 4.60 yuan and 3.20 yuan per 10 shares respectively. Looking at share price performance over the past five trading days, Yankuang Energy has risen a cumulative 10.53 percent, the largest gain, while Sichuan Road and Bridge and China Southern Power Grid Energy have also climbed more than 6 percent. Among the 3,652 companies that have proposed distribution plans for 2025, 3,641 include cash dividends, with total payouts reaching 1.59 trillion yuan, and another 401 include bonus shares or share transfers.