Harbin Power Equipment Company Limited ("the Company") was formed through the restructuring of Harbin Power Plant Equipment Group Corporation ("HPEGC"), which is the oldest large-scale power plant equipment manufacturer in the People's Republic of China (the "PRC"). The Company was established in Harbin, PRC on 6th October, 1994. Approval from the State Commission for Restructuring of Economic System was obtained on 5th November, 1994 for the Company to become a joint stock limited company listed in Hong Kong.

The dealings in the shares of the Company commenced on The Stock Exchange of Hong Kong Limited (the "HKSE") on 16th December, 1994.

The Company and its subsidiaries (the "Group") are the largest manufacturer of power plant equipment in the PRC. The Group currently has annual design production capacity of 5,000MW, of which 4,000MW is in thermal power equipment and 1,000MW in hydro power equipment.

The Group possesses a comprehensive range of advanced production and research facilities. Its capabilities in research and development, product manufacturing and power station construction have been in a leading position within the power plant equipment manufacturing industry in the PRC.

The Group is located in Harbin, PRC, also known as the "City of Power". As at 31st December, 1997, the Group employed a staff of 26,000 people.

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