Two of the mainland's largest power generating equipment manufacturers announced mixed results yesterday. H share Harbin Power Equipment reported its net profit inched up 3.7 per cent to 87.65 million yuan (about HK$81.51 million), with turnover rising 8 per cent to 2.59 billion yuan. Earnings per share were up 4 per cent to 7.4 fen. The proposed final dividend was up 5.7 per cent to 3.7 fen. No interim dividend was declared. Net profit at H share Dongfang Electrical Machinery Co dropped 13.4 per cent to 49.15 million yuan, despite a 10 per cent rise in sales to 715.28 million yuan. Earnings per share were down 13 per cent to 10.9 fen and the final dividend will be cut by 15 per cent to 85 fen. Harbin Power chairman Tian Yushi said the company had sustained its business slowdown as experienced in the past two years through improved marketing and strengthened internal management. He said although it was hurt by postponed deliveries and under-utilisation of production facilities in the first half, the situation improved in the second half with its efforts to shorten the production cycle, rising output of other products and provision of faster engineering services. Except for the 1.8 per cent decrease in turnover for the main thermal power equipment, that of engineering services surged 38.3 per cent. Turnover of main hydro power equipment added 32.2 per cent and ancillary equipment for power plants contributed 7.4 per cent.