According to the Zhitong Finance App, Harbin Electric (01133) announced its results for the year ended December 31, 2021. The company achieved total operating revenue of about RMB 21.57 billion (same unit below), a decrease of 10.12% over the previous year. Guimu's net loss was about 4.142 billion yuan, an increase of 56797.56% over the previous year, and a basic loss of 2.427 yuan per share.

According to the announcement, the main reasons for the decline in profits are: first, the gross profit of traditional industries declined due to falling product prices and higher costs, and the increase in loss contracts to be executed; second, due to the impact of the overseas epidemic and the increase in construction costs, overseas international engineering projects caused large losses; third, the increase in current management expenses due to the company's one-time accrual of expenses for retirees outside the coordination of retirees.