HK Stock Market Move | Dongfang Electric Corporation (01072) rose more than 6% in the afternoon; Dongfang Turbine signed a procurement agreement for 30 G50 gas turbines with a Canadian company.

Dongfang Electric Corporation (01072) rose more than 6% in the afternoon. As of press time, it was up 5.53% at HK$16.42, with a turnover of HK$60.6995 million. On the news front, according to Xinhua Finance, Canadian data center infrastructure company Adag Group announced on October 26 that its subsidiary EcoDCSolutions signed a cooperation agreement with Dongfang Turbine Co., Ltd., a subsidiary of China Dongfang Electric Corporation Group, to purchase 30 G50 gas turbines. This is the largest gas turbine procurement agreement announced to date by a Canadian data center company. Huatai said that considering the company is expected to benefit from normalized orders for traditional power sources including hydro, thermal and nuclear power, a higher proportion of deliveries of high-margin coal power orders may support a recovery in profitability, the overseas expansion of the independently developed G50 gas turbine may contribute profit elasticity, the dividend payout ratio may increase year by year in 2025-27, and it maintains a "Buy" rating on both A-shares and H-shares.