Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
Stock Code: 20077 Stock ID: Hangqilun B Announcement No. 2017-34
Hangzhou Steam Turbine Co., Ltd.
The 1st Quarterly Report 2017
April 2017
1
Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
I. Important Prompt
The Board of Directors, The Supervisory Committee, the supervisors and the directors of the Company guarantee
that there are no significant omissions, fictitious or misleading statements carried in the Report and we will accept
individual and joint responsibilities for the truthfulness, accuracy and completeness of the Report.
All of the directors presented the board meeting at which this Quarterly Report was examined.
Chairman Mr. Zheng Bin, Chief Financial Officer Pu Yangshuo, and the Chief of Accounting Department Ms.
Zhao Jiamao hereby declare: the Financial Statement in the report is guaranteed to be truthful and complete.
2
Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
II. Basic information about the company
I. Main financial data and indices
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting
error correction or not.
No
Changes of this period over same
This period Same period of last year
period of last year（％）
Operating income（RMB） 748,344,237.44 687,834,749.02 8.80%
Net profit attributable to the shareholders of
16,752,601.64 6,620,245.62 153.05%
the listed company（RMB）
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of -15,980,860.17 2,908,791.39 -649.40%
listed company（RMB）
Cash flow generated by business operation,
-200,738,208.12 18,550,921.62 -1,182.09%
net（RMB）
Basic earning per share(RMB/Share) 0.02 0.01 100.00%
Diluted gains per
0.02 0.01 100.00%
share(RMB/Share)(RMB/Share)
Weighted average return on equity（%） 0.24% 0.16% 0.08%
Changes of this period-end over
End of this period End of last period
same period-end of last year(%)
Gross assets（RMB） 10,966,970,527.59 10,550,899,708.34 3.94%
Net assets attributable to the shareholders
6,608,363,192.44 6,385,346,243.23 3.49%
of the listed company（RMB）
Items and amount of non-current gains and losses
In RMB
Amount (Year-beginning to the
Non-recurring gain and loss items Notes
end of the report period.)
Non-current asset disposal gain/loss(including the
write-off part for which assets impairment provision -2,499.60
is made)
Govemment subsidy recognized in current gain and
loss(excluding those closely related to the Company’s 2,486,351.20
business and granted under the state’s policies)
Gain/loss from change of fair value of transactional
financial asset and liabilities, and investment gains 35,686,339.58
from disposal of transactional financial assets and
3
Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
liabilities and sellable financial assets other than valid
period value instruments related to the Company’s
common businesses.
Other non-operating income and expenditure except
1,554,852.88
for the aforementioned items
Less: Amount of influence of income tax 6,479,408.00
Amount of influence of minority interests（After tax） 512,174.25
Total 32,733,461.81 --
None of Non-recurring gain /loss items recognized as recurring gain /loss/items as defined by the information
disclosure explanatory Announcement No.1- Non –recurring gain/loss in the report period.
4
Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
II. Total Shareholders and Shares Held by Top Ten Shareholders at the End of the Reporting Period
1. About Total Common Shareholders, Total Preference Shareholders with the Voting Power Recovered and the
Shares Held by Top Ten Common Shareholders
In shares
Total preference shareholders with the voting
Total number of common shareholders at the
15,314 power recovered at the end of the reporting 0
period-end
period(if any)
Shares held by the top 10 shareholders
Amount of Pledging or freezing
tradable
Properties of Share
Shareholder name Quantity shares with Status of
shareholder proportion % Quantity
Conditional the shares
held
State-owned legal
Hangzhou Steam Turbine Power Group Co., Ltd. 63.64% 479,824,800 479,824,800
person
Foreign legal
Shanwan Hongyuan Securities (HK) Co.,Ltd. 0.71% 5,325,166 0
person
BBH A/C VANGUARD EMERGING MARKETS Foreign legal
0.63% 4,722,804 0
STOCK INDEX FUND person
Foreign legal
NORGES BANK 0.57% 4,303,675 0
person
GUOTAIJUNAN SECURITIES(HONGKONG) Foreign legal
0.45% 3,411,781 0
LIMITED person
VANGUARD TOTAL INTERNATIONAL STOCK Foreign legal
0.45% 3,370,146 0
INDEX FUND person
CHINA INT'L CAPITAL CORP HONG KONG Foreign legal
0.32% 2,425,960 0
SECURITIES LTD person
State-owned legal
China Merchants Secutities(HK)Co., Ltd. 0.31% 2,318,344 0
person
Domestic Natural
Xia Zulin 0.28% 2,100,000 0
person
Foreign legal
ISHARES CORE MSCI EMERGING MARKETS ETF 0.26% 1,988,800 0
person
Shares held by the Top 10 Shareholders of Non-restricted shares
Number of the non-restricted Share type
Shareholders’ Names
shares held Share type Quantity
Foreign shares
Shanwan Hongyuan Securities (HK) Co.,Ltd. 5,325,166 placed in domestic 5,325,166
exchange
Foreign shares
BBH A/C VANGUARD EMERGING MARKETS STOCK INDEX FUND 4,722,804 4,722,804
placed in domestic
5
Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
exchange
Foreign shares
NORGES BANK 4,303,675 placed in domestic 4,303,675
exchange
Foreign shares
GUOTAI JUNAN SECURITIES(HONGKONG) LIMITED 3,411,781 placed in domestic 3,411,781
exchange
Foreign shares
VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND 3,370,146 placed in domestic 3,370,146
exchange
Foreign shares
CHINA INT'L CAPITAL CORP HONG KONG SECURITIES LTD 2,425,960 placed in domestic 2,425,960
exchange
Foreign shares
China Merchants Secutities(HK)Co., Ltd. 2,318,344 placed in domestic 2,318,344
exchange
Foreign shares
Xia Zulin 2,100,000 placed in domestic 2,100,000
exchange
Foreign shares
ISHARES CORE MSCI EMERGING MARKETS ETF 1,988,800 placed in domestic 1,988,800
exchange
Foreign shares
CREDIT SUISSE AG HONG KONG BRANCH 1,729,759 placed in domestic 1,729,759
exchange
(1) There is not any relationship between Hangzhou Steam Turbine Group
Power Group Co., Ltd. and other shareholders; (2) It is unknown to the
Company if there is any relationship among the top 10 common share holders
Explanation on associated relationship or concerted action of the above
without restriction; (3) Hangzhou Steam Turbine Group Co., Ltd. is not an
shareholders
“action-in-concert” party with any of other shareholders as described by the
“Administration Rules of Informational Disclosure about Change of
Shareholding Statues of PLCs”.
Note to the top 10 common stockholders involved in margin financing &
Not applicable
securities lending (If any)
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company
have no buy –back agreement dealing in reporting period.
6
Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
2.Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of the
report period
Not applicable
III. Significant Events
I. Changes in the principal accounting statement items and financial indications and the causes
In RMB
Balance sheet items Ending balance in Opening balance in Proportion of Causes of change
CNY CNY the
change
Mainly due to the current repayment of the bill
Bill receivable 598,481,186.07 479,716,321.62 24.76%
more due
Mainly due to the current period in accordance
Advance account 500,527,501.83 202,184,858.83 147.56% with the provisions of the purchase contract
prepaid to the supplier due to the increase
Mainly due to the current purchase of financial
Other current assets 642,270,509.40 863,018,479.59 -25.58%
products due to reduced year on year
Profit statement items Amount in the Same period of the Proportion n f Causes of change
reporting period previous year , CNY the change
Mainly due to the long-term accounts receivable
Asset impairment loss -250,837.45 65,049,476.00 -100.39% with a long aging, aging structure changes are not
obvious, less provision for bad debts due
Which was mainly due to the investment income
Investment income 35,686,339.58 4,321,846.55 725.72% of the Changdi equity investment partnership of
the Company
Mainly due to the impairment loss of assets of the
current period, while the company transferred
Total profit 30,423,182.05 12,921,893.35 135.44%
Changdi equity investment partnership formed
investment income
Cash flow statement Items Amount in the Same period of the Proportion n f Causes of change
reporting period previous year , CNY the change
Cash flow generated by Mainly due to the increase in taxes paid in the
business operation, net -200,738,208.12 18,550,921.62 -1182.09% current period, the number of acceptance bills in
the quarter due to more
Net cash flow generated by Mainly due to the current period due to increase
264,097,295.53 -118,577,325.06 322.72%
investment in wealth management products
7
Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
Net cash flow generated by Mainly due to the decrease in the amount of bank
5,613,901.44 -34,422,806.47 116.31%
Financing repayment in the current period
II. Progress of Significant Events, their Influences and Analytical Notice on the Solutions
The optimize the company's capital structure and meet the needs of the company’s operating funds, the company
made the transfer of the Company’s Share of Property of Changdi Equity Investment. The Content is available as
The Announcement No. 2016-76,2016-78 and 2016-89 released by Securities Times, Shanghai Securities Daily,
Hong Kong Commercial Daily and http://www.cninfo.com.cn dated October 23, 2016,November 17,2016 and
December 26, 2016 respectively .
On January 3, 2017, the Company formally signed an agreement on the transfer of the shares of Hangzhou
Changdi Equity Investment Partnership Firm (limited partnership) with Zhejiang Juqing Investment Co., Ltd. and
received the announcement from Zhejiang Juqing Investment Co., Ltd. on Jan. 17 Of the transfer of 73.68 million
yuan.
III. Commitments finished in implementation by the Company, shareholders, actual controller, acquirer,
directors, supervisors, senior executives or other related parties in the reporting period and commitments
unfinished in implementation at the end of the reporting period
Non-existence
IV. Anticipation of Business Performance from January to June, 2017
Alert of loss or significant change in net profit from the beginning of year to the end of next report period or
comparing with the same period of last year, and statement of causations.
Not applicable
V. Investment in securities
Non-existence
VI. Investment in derivatives
Non-existence
VII. Registration form of such Activities as Reception, Research, Communication, Interview in the
Reporting Period
Nil
VIII. Outward Guarantee against the Regulations
Nil
IX. Non-operational Occupancy of the Company’s Capital by the Controlling Shareholder and its Related
Parties
Non-existence
IV. Financial Statement
I. Financial statement
1. Consolidated balance sheet
Prepared by:：Hangzhou Steam Turbine Co., Ltd.
8
Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
March 31, 2017
In RMB
Items At the end of term Beginning of term
Current asset：
Monetary fund 963,520,330.47 895,037,559.34
Settlement provision
Outgoing call loan
Financial assets measured at fair value with variations
accounted into current income account
Derivative financial assets
Bill receivable 598,481,186.07 479,716,321.62
Account receivable 1,850,030,050.66 1,870,173,348.32
Prepayments 500,527,501.83 202,184,858.83
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Interest receivable
Dividend receivable
Other account receivable 33,995,911.23 31,024,707.72
Repurchasing of financial assets
Inventories 1,875,368,114.41 1,901,544,358.26
Assets held for sales
Non-current asset due in 1 year
Other current asset 642,270,509.40 863,018,479.59
Total of current assets 6,464,193,604.07 6,242,699,633.68
Non-current assets：
Loans and payment on other’s behalf disbursed
Disposable financial asset 3,275,053,230.80 3,060,865,862.60
Expired investment in possess
Long-term receivable
Long term share equity investment
Property investment
Fixed assets 619,751,044.63 615,922,109.91
Construction in progress 135,498,725.71 153,743,889.41
Engineering material
9
Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 295,093,450.44 297,405,434.08
R & D petrol
Goodwill
Long-germ expenses to be amortized 1,364,677.87 1,430,968.81
Deferred income tax asset 176,015,794.07 178,831,809.85
Other non-current asset
Total of non-current assets 4,502,776,923.52 4,308,200,074.66
Total of assets 10,966,970,527.59 10,550,899,708.34
Current liabilities
Short-term loans 189,000,000.00 173,000,000.00
Loan from Central Bank
Deposit received and hold for others
Call loan received
Financial liabilities measured at fair value with variations
accounted into current income account
Derivative financial liabilities
Bill payable 103,937,144.69 143,007,715.10
Account payable 985,133,211.04 853,452,589.51
Advance payment 1,938,382,883.42 1,827,959,793.62
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable 57,236,993.90 71,224,634.03
Tax payable 44,503,432.18 90,239,673.16
Interest payable 134,376.32
Dividend payable
Other account payable 28,030,927.57 30,820,980.80
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Liabilities held for sales
10
Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
Non-current liability due in 1 year 18,400,000.00 18,500,000.00
Other current liability
Total of current liability 3,364,624,592.80 3,208,339,762.54
Non-current liabilities：
Long-term loan 4,900,000.00 4,900,000.00
Bond payable
Including：preferred stock
Sustainable debt
Long-term payable 208,330,000.00 208,357,733.33
Long-term payable employees’s remuneration
Special payable
Expected liabilities
Deferred income 5,845,868.90 5,422,895.00
Deferred income tax liability 414,668,504.95 378,256,646.95
Other non-current liabilities 1,206,800.00
Total non-current liabilities 634,951,173.85 596,937,275.28
Total of liability 3,999,575,766.65 3,805,277,037.82
Owners’ equity
Share capital 754,010,400.00 754,010,400.00
Other equity instrument
Including：preferred stock
Sustainable debt
Capital reserves 139,590,345.09 139,590,345.09
Less：Shares in stock
Other comprehensive income 2,343,744,645.93 2,137,419,299.84
Special reserves 27,485,354.85 27,546,353.37
Surplus reserves 621,112,807.78 621,112,807.78
Common risk provision
Undistributed profit 2,722,419,638.79 2,705,667,037.15
Total of owner’s equity belong to the parent company 6,608,363,192.44 6,385,346,243.23
Minority shareholders’ equity 359,031,568.50 360,276,427.29
Total of owners’ equity 6,967,394,760.94 6,745,622,670.52
Total of liabilities and owners’ equity 10,966,970,527.59 10,550,899,708.34
11
Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
Legal Representative: Zheng Bin Person in charge of accounting：Pu Yangshuo Accounting Dept Leader: Zhao Jiamao
2.Parent Company Balance Sheet
In RMB
Items At the end of term Beginning of term
Current asset：
Monetary fund 369,257,687.80 293,454,126.93
Financial assets measured at fair value with variations accounted
into current income account
Derivative financial assets
Bill receivable 382,706,768.83 269,527,716.22
Account receivable 1,363,790,459.95 1,424,950,696.58
Prepayments 395,928,522.54 115,383,408.34
Interest receivable
Dividend receivable
Other account receivable 66,758,184.15 68,004,706.24
Inventories 1,452,691,612.12 1,446,652,799.71
Assets held for sales
Non-current asset due in 1 year
Other current asset 455,297,660.50 600,000,000.00
Total of current assets 4,486,430,895.89 4,217,973,454.02
Non-current assets：
Disposable financial asset 3,234,293,541.22 3,020,106,173.02
Expired investment in possess
Long-term receivable
Long term share equity investment 502,919,378.03 502,919,378.03
Property investment
Fixed assets 308,939,367.77 315,900,380.66
Construction in progress 89,029,121.20 94,170,909.99
Engineering material
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 172,814,800.34 173,826,293.57
12
Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
R & D petrol
Goodwill
Long-germ expenses to be amortized 507,773.78 507,773.78
Deferred income tax asset 128,131,953.86 133,581,773.70
Other non-current asset
Total of non-current assets 4,436,635,936.20 4,241,012,682.75
Total of assets 8,923,066,832.09 8,458,986,136.77
Current liabilities
Short-term loans 100,000,000.00 100,000,000.00
Financial liabilities measured at fair value with variations
accounted into current income account
Derivative financial liabilities
Bill payable
Account payable 668,997,858.64 486,810,046.42
Advance payment 1,562,572,026.28 1,476,780,338.78
Employees’ wage payable 34,306,740.86 44,035,408.19
Tax payable 25,023,298.55 64,247,326.24
Interest payable
Dividend payable
Other account payable 18,426,830.40 21,562,998.72
Classified as held for sale debt
Non-current liability due in 1 year
Other current liability
Total of current liability 2,409,326,754.73 2,193,436,118.35
Non-current liabilities：
Long-term loan
Bond payable
Including：preferred stock
Sustainable debt
Long-term payable
Long-term payable to employees
Special payable
Expected liabilities
Deferred income 422,973.90
Deferred income tax liability 414,668,504.95 378,256,646.95
Other non-current liabilities
13
Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
Total of Non-current liabilities 415,091,478.85 378,256,646.95
Total of liability 2,824,418,233.58 2,571,692,765.30
Owners’ equity
Share capital 754,010,400.00 754,010,400.00
Other equity instrument
Including：preferred stock
Sustainable debt
Capital reserves 138,953,250.09 138,953,250.09
Less：Shares in stock
Other comprehensive income 2,344,134,018.80 2,137,800,156.80
Special reserves 10,870,071.58 10,874,033.85
Surplus reserves 602,356,402.65 602,356,402.65
Undistributed profit 2,248,324,455.39 2,243,299,128.08
Total of owners’ equity 6,098,648,598.51 5,887,293,371.47
Total of liabilities and owners’ equity 8,923,066,832.09 8,458,986,136.77
Legal Representative: Zheng Bin Person in charge of accounting：Pu Yangshuo Accounting Dept Leader: Zhao Jiamao
3.Consolidated Income statement
In RMB
Items Amount in this period Amount in last period
I. Income from the key business 748,344,237.44 687,834,749.02
Incl：Business income 748,344,237.44 687,834,749.02
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 757,643,833.76 678,666,814.16
Incl：Business cost 525,196,208.66 393,516,347.50
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net amount provided as insurance contract reserves
14
Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 8,821,742.95 3,928,086.05
Sales expense 41,648,800.76 35,428,813.22
Administrative expense 179,175,254.56 179,385,377.44
Financial expenses 3,052,664.28 1,358,713.95
Asset impairment loss -250,837.45 65,049,476.00
Add：Gains from change of fir value （“-”for loss）
Investment gain（“-”for loss） 35,686,339.58 4,321,846.55
Incl: investment gains from affiliates
Gains from currency exchange（“-”for loss）
III. Operational profit（“-”for loss） 26,386,743.26 13,489,781.41
Add ：Non-operational income 4,284,015.39 427,545.14
Including：Income from disposal of non-current assets
Less：Non business expenses 247,576.60 995,433.20
Incl：Loss from disposal of non-current assets 2,499.60 2,286.95
IV.Total profit(“-”for loss) 30,423,182.05 12,921,893.35
Less：Income tax expenses 6,592,924.19 5,488,846.31
V. Net profit 23,830,257.86 7,433,047.04
Net profit attributable to the owners of parent company 16,752,601.64 6,620,245.62
Minority shareholders’ equity 7,077,656.22 812,801.42
VI. Other comprehensive income 206,313,862.01 -206,656.87
Net of profit of other comprehensive income attributable to owner
206,325,346.09 -87,993.67
s of the parent company.
（I）Other comprehensive income items that will not be
reclassified into gains/losses in the subsequent accounting period
1.Re-measurement of defined benefit plans of changes in net debt
or net assets
2.Other comprehensive income under the equity method investee
can not be reclassified into profit or loss.
（II）
Other comprehensive income that will be reclassified into profit or 206,325,346.09 -87,993.67
loss.
1.Other comprehensive income under the equity method investee
can be reclassified into profit or loss.
2.Gains and losses from changes in fair value available for sale fin 206,333,862.00
15
Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
ancial assets
3.Held-to-maturity investments reclassified to gains and losses of
available for sale financial assets
4.The effective portion of cash flow hedges and losses
5.Translation differences in currency financial statements -8,515.91 -87,993.67
6.Other
Net of profit of other comprehensive income attributable to Minor -11,484.08 -118,663.20
ity shareholders’ equity
VII. Total comprehensive income 230,144,119.87 7,226,390.17
Total comprehensive income attributable to the owner of the
223,077,947.73 6,532,251.95
parent company
Total comprehensive income attributable minority shareholders 7,066,172.14 694,138.22
VIII. Earnings per share
（I）Basic earnings per share 0.02 0.01
(II)Diluted earnings per share 0.02 0.01
Legal Representative: Zheng Bin Person in charge of accounting：Pu Yangshuo Accounting Dept Leader: Zhao Jiamao
4. Income statement of the Parent Company
In RMB
Items Amount in this period Amount in last period
I. Income from the key business 518,830,806.22 444,691,641.41
Less：Business cost 377,206,922.31 249,624,442.47
Business tax and surcharge 4,229,839.47 2,196,050.90
Sales expense 25,219,505.56 22,321,192.89
Administrative expense 133,291,786.10 122,056,468.72
Financial expenses 2,450,317.94 -22,425.04
Asset impairment loss -3,268,417.23 53,718,028.56
Add：Gains from change of fir value （“-”for loss）
Investment gain（“-”for loss） 29,484,295.08 9,066,918.00
Incl: investment gains from affiliates
16
Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
II. Operational profit（“-”for loss） 9,185,147.15 3,864,800.91
Add ：Non-operational income 1,300,000.00 514.00
Including：Income from disposal of non-current assets
Less：Non business expenses 10,000.00 455,391.64
Incl：Loss from disposal of non-current assets
III.Total profit(“-”for loss) 10,475,147.15 3,409,923.27
Less：Income tax expenses 5,449,819.84
IV. Net profit（“-”for net loss） 5,025,327.31 3,409,923.27
V.Net of profit of other comprehensive income 206,333,862.00
（I）Other comprehensive income items that will not be
reclassified into gains/losses in the subsequent accounting period
1.Re-measurement of defined benefit plans of changes in net debt
or net assets
2.Other comprehensive income under the equity method investee
can not be reclassified into profit or loss.
（ II ）
Other comprehensive income that will be reclassified into profit or 206,333,862.00
loss.
1.Other comprehensive income under the equity method investee
can be reclassified into profit or loss.
2.Gains and losses from changes in fair value available for sale fin
206,333,862.00
ancial assets
3.Held-to-maturity investments reclassified to gains and losses of
available for sale financial assets
4.The effective portion of cash flow hedges and losses
5.Translation differences in currency financial statements
6.Other
VI. Total comprehensive income 211,359,189.31 3,409,923.27
VII. Earnings per share：
（I）Basic earnings per share 0.007 0.0045
(II)Diluted earnings per share 0.007 0.0045
17
Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
Legal Representative: Zheng Bin Person in charge of accounting：Pu Yangshuo Accounting Dept Leader: Zhao Jiamao
5. Consolidated Cash flow statement
In RMB
Items Amount in this period Amount in last period
I.Cash flows from operating activities
Cash received from sales of goods or rending of services 558,114,951.23 634,119,438.95
Net increase of customer deposits and capital kept for brother
company
Net increase of loans from central bank
Net increase of inter-bank loans from other financial bodies
Cash received against original insurance contract
Net cash received from reinsurance business
Net increase of client deposit and investment
Net increase of the financial assets that are measured at fair value and
whose movement is counted to the current gain and loss
Cash received as interest, processing fee and commission
Net increase of inter-bank fund received
Net increase of repurchasing business
Tax returned 206,444.13
Other cash received from business operation 5,675,366.23 4,527,768.44
Sub-total of cash inflow 563,790,317.46 638,853,651.52
Cash paid for purchasing of merchandise and services 439,261,241.07 352,945,569.94
Net increase of client trade and advance
Net increase of savings n central bank and brother company
Cash paid for original contract claim
Cash paid for interest, processing fee and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 181,268,694.01 179,244,664.51
Taxes paid 105,253,360.58 51,177,497.74
Other cash paid for business activities 38,745,229.92 36,934,997.71
Sub-total of cash outflow from business activities 764,528,525.58 620,302,729.90
Cash flow generated by business operation, net -200,738,208.12 18,550,921.62
II.Cash flow generated by investing
18
Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
Cash received from investment retrieving 48,558,351.80
Cash received as investment gains 35,686,339.58 5,321,846.55
Net cash retrieved from disposal of fixed assets, intangible assets, and
407,144.18
other long-term assets
Net cash received from disposal of subsidiaries or other operational
units
Other investment-related cash received 845,700,000.00 282,000,000.00
Sub-total of cash inflow due to investment activities 930,351,835.56 287,321,846.55
Cash paid for construction of fixed assets, intangible assets and other
20,254,540.03 27,199,171.61
long-term assets
Cash paid as investment 20,000,000.00
Net increase of loan against pledge
Net cash received from subsidiaries and other operational units
Other cash paid for investment activities 626,000,000.00 378,700,000.00
Sub-total of cash outflow due to investment activities 666,254,540.03 405,899,171.61
Net cash flow generated by investment 264,097,295.53 -118,577,325.06
III.Cash flow generated by financing
Cash received as investment
Incl: Cash received as investment from minor shareholders
Cash received as loans 36,000,000.00 20,000,000.00
Cash received from bond placing
Other financing –related ash received
Sub-total of cash inflow from financing activities 36,000,000.00 20,000,000.00
Cash to repay debts 20,100,000.00 50,100,000.00
Cash paid as dividend, profit, or interests 1,926,513.37 4,322,806.47
Incl: Dividend and profit paid by subsidiaries to minor shareholders
Other cash paid for financing activities 8,359,585.19
Sub-total of cash outflow due to financing activities 30,386,098.56 54,422,806.47
Net cash flow generated by financing 5,613,901.44 -34,422,806.47
IV. Influence of exchange rate alternation on cash and cash equivalents -490,217.72 264,528.71
V.Net increase of cash and cash equivalents 68,482,771.13 -134,184,681.20
Add: balance of cash and cash equivalents at the beginning of term 895,037,559.34 751,596,796.24
VI ..Balance of cash and cash equivalents at the end of term 963,520,330.47 617,412,115.04
Legal Representative: Zheng Bin Person in charge of accounting：Pu Yangshuo Accounting Dept Leader: Zhao Jiamao
19
Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
6. Cash Flow Statement of the Parent Company
In RMB
Items Amount in this period Amount in last period
I.Cash flows from operating activities
Cash received from sales of goods or rending of services 431,634,661.29 384,359,061.84
Tax returned
Other cash received from business operation 812,899.66 3,837,208.00
Sub-total of cash inflow 432,447,560.95 388,196,269.84
Cash paid for purchasing of merchandise and services 338,102,954.16 209,390,179.45
Cash paid to staffs or paid for staffs 124,416,505.09 124,656,555.17
Taxes paid 71,346,176.98 13,782,902.84
Other cash paid for business activities 11,779,176.90 40,683,952.46
Sub-total of cash outflow from business activities 545,644,813.13 388,513,589.92
Cash flow generated by business operation, net -113,197,252.18 -317,320.08
II.Cash flow generated by investing
Cash received from investment retrieving 48,558,351.80
Cash received as investment gains 29,484,295.08 9,066,918.00
Net cash retrieved from disposal of fixed assets, intangible assets, and other
long-term assets
Net cash received from disposal of subsidiaries or other operational units
Other investment-related cash received 430,000,000.00 120,000,000.00
Sub-total of cash inflow due to investment activities 508,042,646.88 129,066,918.00
Cash paid for construction of fixed assets, intangible assets
12,874,611.09 23,359,420.46
and other long-term assets
Cash paid as investment 20,000,000.00
Net cash received from subsidiaries and other operational units
Other cash paid for investment activities 285,000,000.00 290,000,000.00
Sub-total of cash outflow due to investment activities 317,874,611.09 313,359,420.46
Net cash flow generated by investment 190,168,035.79 -184,292,502.46
III.Cash flow generated by financing
Cash received as investment
Cash received as loans
Cash received from bond placing
Other financing –related ash received
20
Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2017(Full text)
Sub-total of cash inflow from financing activities
Cash to repay debts
Cash paid as dividend, profit, or interests 837,500.00
Other cash paid for financing activities
Sub-total of cash outflow due to financing activities 837,500.00
Net cash flow generated by financing -837,500.00
IV. Influence of exchange rate alternation on cash and cash equivalents -329,722.74 -328,995.22
V.Net increase of cash and cash equivalents 75,803,560.87 -184,938,817.76
Add: balance of cash and cash equivalents at the beginning of term 293,454,126.93 387,916,202.79
VI ..Balance of cash and cash equivalents at the end of term 369,257,687.80 202,977,385.03
Legal Representative:Zheng Bin Person in charge of accounting：Pu Yangshuo Accounting Dept Leader: Zhao Jiamao
II. Auditors’ Report
The first Quarterly Report Not audited
Hangzhou Steam Turbine Co., Ltd.
Chairman of the Board: Zheng Bin
April 26,2017
21