Hangzhou Steam Turbine Co., Ltd. The First Quarterly Report 2021(Text)
Stock Code：200771 Stock ID: Hangqilun B Announcement No.:2021-37
Hangzhou Steam Turbine Co., Ltd.
The First Quarterly Report 2021(Text)
(Stock Code：200771 )
April 2021
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Hangzhou Steam Turbine Co., Ltd. The First Quarterly Report 2021(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 Mr.Zhao Jiamao, and the Chief of Accounting Department Mr.
Jin Can hereby declare: the Financial Statement in the report is guaranteed to be truthful and complete.
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Hangzhou Steam Turbine Co., Ltd. The First Quarterly Report 2021(Text)
II. Basic information about the company
I. Main financial data and indices
Indicate by tick mark whether the Company needs to retroactively restate any of its accounting data.
□ Yes √ No
Changes of this period
Same period of last
This period over same period of
year
last year（％）
Operating income（Yuan） 1,181,683,010.42 697,880,677.71 69.32%
Net profit attributable to the shareholders of the listed
161,578,759.88 -15,519,633.02 1,141.12%
company（Yuan）
Net profit after deducting of non-recurring gain/loss
54,440,724.84 -22,412,384.48 342.90%
attributable to the shareholders of listed company（Yuan）
Cash flow generated by business operation, net（Yuan） 157,547,348.48 150,122,015.81 4.95%
Basic earning per share(Yuan/Share) 0.22 -0.02 1,200.00%
Diluted gains per share(Yuan/Share) 0.22 -0.02 1,200.00%
Weighted average return on equity（%） 1.92% -0.24% 2.16%
Changes of this
period-end over same
End of this period End of last period
period-end of last
year(%)
Gross assets（Yuan） 16,389,503,692.97 15,392,653,924.41 6.48%
Net assets attributable to the shareholders of the listed
8,721,283,524.73 8,104,788,941.36 7.61%
company（Yuan）
Items and amount of non-current gains and losses
√ Applicable □ Not applicable
In RMB
Amount from year-begin to
Items Notes
period -end
Non-current asset disposal gain/loss(including the write-off part
-59,619.39
for which assets impairment provision is made)
Tax refund, deduction and exemption that is examined and
approved by authority exceeding or has no official approval 0.00
document.
Governmental Subsidy accounted as current gain/loss, except for
those subsidies at with amount or quantity fixed by the national 1,450,067.44
government and closely related to the Company’s business
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Hangzhou Steam Turbine Co., Ltd. The First Quarterly Report 2021(Text)
operation.
Capital occupation charges on non-financial enterprises that are
0.00
recorded into current gains and losses
Gains due to that the investment costs for the Company to obtain
subsidiaries, associates and joint ventures are lower than the
0.00
enjoyable fair value of the identifiable net assets of the investees
when making the investments
Gain/loss on non-monetary asset swap 0.00
Gain/loss on entrusting others with investments or asset
0.00
management
Asset impairment provisions due acts of God such as natural
0.00
disasters
Gains/losses of debt restructure 0.00
Reorganization expenses, such as expenditure for allocation of
0.00
employees and integration fee
Gains/losses exceeding the fair value arising from transactions
0.00
with obviously unfair prices
Net gain and loss of the subsidiary under the common control and
produced from enterprise consolidation from the beginning of the 0.00
period to the consolidation date
Gain and loss arising from contingent matters irrelevant with the
0.00
Company’s normal operation business
Gain and loss from change of the fair value arising from
transactional monetary assets, transactional financial liabilities as
held as well as the investment income arising from disposal of the
transactional monetary assets, transactional financial liabilities 9,052,164.94
and financial assets available for sale excluding the effective
hedging transaction in connection with the Company’s normal
business
Reverse of the provision for impairment of accounts receivable
0.00
undergoing impairment test individually
Gain/loss from external entrusted loan 0.00
Gain and loss arising from change in the fair value of the
investment based real estate measure afterwards by means of fair 0.00
value model
Influence upon the current gains and losses from the once-and
–for –all adjustment over the current gains and losses according 0.00
to the taxation and accounting laws and regulations
Income from custodian charge obtained from entrusted operation 0.00
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Hangzhou Steam Turbine Co., Ltd. The First Quarterly Report 2021(Text)
Operating income and expenses other than the aforesaid items 116,605,143.21
Less: Influenced amount of income tax 19,502,579.61
Amount of influence of minority interests（After tax） 407,141.55
Total 107,138,035.04 --
For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on
information disclosure for Compaines Offering their Securities to the Public-Non-recurring Gains and Losses and
its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosure
for Companies offering their securities to the public-non-recurring Gains and losses which have been defined as
recurring gains and losses, it is necessary to explain the reason.
None of Non-recurring gain /loss items recorgnized as recurring gain /loss/items as defined by the information
disclosure explanatory Announcement No.1- Non –recurring gain/loss in the report period.
II. Total number of shareholders at the period-end and shareholdings of top 10 shareholders
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 number of common shareholders Total preference shareholders with the voting power recovered at the
11422 0
at the period-end end of the reporting period(if any)
Shares held by the top 10 shareholders
Amount of Pledging or freezing
Share tradable shares
Properties of
Shareholder name proporti Quantity with Status of
shareholder Quantity
on % Conditional the shares
held
State-owned
Hangzhou Steam Turbine Power Group Co., Ltd. 63.64% 479,824,800 479,824,800
legal person
VANGUARD TOTAL INTERNATIONAL STOCK Foreign legal
0.71% 5,365,877 0
INDEX FUND person
State-owned
China Merchants Securities(HK)Co., Ltd. 0.60% 4,500,630 0
legal person
Domestic
Zhou Jie 0.58% 4,341,100 0
Natural person
VANGUARD EMERGING MARKETS STOCK INDEX Foreign legal
0.55% 4,122,282 0
FUND person
GUOTAI JUNAN SECURITIES(HONGKONG) Foreign legal
0.54% 4,053,180 0
LIMITED person
Foreign legal
ISHARES CORE MSCI EMERGING MARKETS ETF 0.47% 3,555,928 0
person
Foreign legal
NORGES BANK 0.33% 2,514,529 0
person
Xia Zulin Domestic 0.31% 2,320,000 0
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Hangzhou Steam Turbine Co., Ltd. The First Quarterly Report 2021(Text)
Natural person
Domestic
Gu Yang 0.20% 1,504,552 0
Natural person
Shares held by the Top 10 Shareholders of Non-restricted shares
Number of the Share type
Shareholders’ Names
non-restricted shares held Share type Quantity
Foreign shares placed
VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND 5,365,877 5,365,877
in domestic exchange
Foreign shares placed
China Merchants Securities(HK)Co., Ltd. 4,500,630 4,500,630
in domestic exchange
Foreign shares placed
Zhou Jie 4,341,100 4,341,100
in domestic exchange
Foreign shares placed
VANGUARD EMERGING MARKETS STOCK INDEX FUND 4,122,282 4,122,282
in domestic exchange
Foreign shares placed
GUOTAI JUNAN SECURITIES(HONGKONG) LIMITED 4,053,180 4,053,180
in domestic exchange
Foreign shares placed
ISHARES CORE MSCI EMERGING MARKETS ETF 3,555,928 3,555,928
in domestic exchange
Foreign shares placed
NORGES BANK 2,514,529 2,514,529
in domestic exchange
Foreign shares placed
Xia Zulin 2,320,000 2,320,000
in domestic exchange
Foreign shares placed
Gu Yang 1,504,552 1,504,552
in domestic exchange
Foreign shares placed
Wang Yihu 1,503,966 1,503,966
in domestic exchange
(1)It is unknown to the Company if there is any relationship
among the top 10 common share holders without restriction. (2)
Explanation on associated relationship or concerted action of the above Other Shareholders. is not an action-in-concert” party with any of
shareholders 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)
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a
buy-back agreement dealing in reporting period.
□ Yes √ No
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.
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Hangzhou Steam Turbine Co., Ltd. The First Quarterly Report 2021(Text)
2.Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of the
report period
□ Applicable √ Not applicable
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Hangzhou Steam Turbine Co., Ltd. The First Quarterly Report 2021(Text)
III. Significant Events
I. Changes in the principal accounting statement items and financial indications and the causes
√ Applicable □ Not applicable
In RMB 10,000
Beginning of Scale of Remarks on the change
Liabilities and Owner's equity End of term change
term
Mainly due to the purchase of 688 million yuan of
Monetary fund 118,543.00 182,948.12 -35.20% convertible bonds of Bank of Hangzhou in the
current period.
Transactional financial assets 169,928.34 102,168.18 66.32% The same as above
Mainly due to the Zhongrun Company-invested by
Long term share equity Turbine Company-is included in the scope of
1,145.61 2,335.54 -50.95%
investment consolidation in the current period, and the
long-term equity investment is combined to offset.
Mainly due to the year-end bonus accrued at the
Employees’ wage payable 5,760.92 11,640.02 -50.51% end of the previous period is distributed in the
current period.
Mainly because of the suspension of the Huoqiu
project in 2019, the original received pre-payment
Other account payable 3,916.08 7,521.26 -47.93% of 34 million were temporarily transferred to other
payables. However as the judgment result was
clear, it’s reversed.
Items Same period of Scale of
This period Remarks on the change
last year change
Business income Mainly due to the sales in the same period last year
were affected by the "new coronavirus " epidemic,
118,168.30 69,788.07 69.32% and the business situation in the current period has
basically recovered and the sales revenue has
increased significantly YOY.
Business costs Mainly due to the increase in sales revenue, thus
83,348.02 49,775.21 67.45%
led to the increase in costs.
Mainly due to the increase in value-added tax
Business taxes and surcharges 631.30 264.53 138.65%
payable in the current period.
Mainly due to the impact of the "new coronavirus "
epidemic in the same period last year, travel
expenses, hospitality expenses, and merchandise
Sale expenses 4,456.76 3,434.60 29.76%
transportation expenses had dropped significantly,
however in the current period those have basically
recovered.
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Hangzhou Steam Turbine Co., Ltd. The First Quarterly Report 2021(Text)
Mainly due to the increase in R&D investment in
R & D Costs 9,033.51 5,651.63 59.84%
the current period.
Mainly because interest income fell YOY, and net
Financial expenses -40.79 -1,594.06 97.44%
foreign exchange gains also fell YOY.
Mainly due to the delay in the return of the
Impairment losses on assets 1,785.75 827.16 115.89% warranty money due to the impact of the "new
coronavirus” epidemic in the same period last year.
Mainly due to the delay in payment collection due
Loss of credit impairment -3,833.94 -6,752.20 43.22% to the impact of the "new coronavirus" epidemic in
the same period last year.
Mainly due to confirm the loss of subsidiary equity
Investment income 259.00 845.97 -69.38%
investment.
Mainly due to the increase in other income
Other income 683.00 114.59 496.04% recognized by relocation expenses during the
current period
Mainly due to the termination of the gas turbine
contract for the Huoqiu project with Sinosteel
Non-Operating income 11,789.53 257.49 4478.64% Equipment Co., Ltd under the mediation of the
court, and gained the compensation for losses of
109 million yuan.
Mainly due to the YOY increase in sales gross
profit and gained 109 million yuan of
Total of profit 20,763.10 -1,857.24 1217.95%
compensation for losses from Sinosteel Equipment
Co., Ltd.
Items Same period of Scale of
This period Remarks on the change
last year change
Net cash flow generated by Mainly due to the purchase of 688 million yuan of
-78,044.44 -10,013.41 -679.40% convertible bonds of Bank of Hangzhou in the
investment
current period.
Net cash flow generated by Mainly due to the repurchase of treasury stocks in
-2,310.25 -4,718.06 51.03%
Financing the same period last year.
II. Progress of Significant Events, their Influences and Analytical Notice on the Solutions
√ Applicable □ Not applicable
On March 29, 2021, the Company subscribed for 6,875,720 bank of Hangzhou convertible bonds through the trading system, with a
unit price of 100 yuan/bond and the subscription amount of 687,572,000 yuan. On April 2, 2021, Bank of Hangzhou disclosed the
"Announcement on the Results of Public Issuance of Convertible Corporate Bonds", the Company's subscription amount was fully
allotted, and the Company held 6,875,720 Bank of Hangzhou convertible bonds.
Date of disclosing Provisional Description of the website for disclosing
Description of provisional announcement
announcement Provisional announcement
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Hangzhou Steam Turbine Co., Ltd. The First Quarterly Report 2021(Text)
Announcement on the progress of
（http://www.cninfo.com.cn）
subscribing to the convertible bonds of April 6,2021
（Announcement No.:2021-09）
Bank of Hangzhou
Progress in the implementation of share repurchase
□ Applicable √ Not applicable
Progress in the implementation of the reduction of the repurchased shares by means of centralized bidding
□ Applicable √ Not applicable
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
□ Applicable √ Not applicable
The company has no commitments completed in period and those without completed till lend of the period from
actual controller, shareholders, related parties, purchaser and companies.
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Hangzhou Steam Turbine Co., Ltd. The First Quarterly Report 2021(Text)
IV. Financial asset investment
1. Investment in securities
√ Applicable □ Not applicable
In RMB
Sale
Mode of Book value Gain/loss Book value
Changes in Cumulative fair Purchase amoun
Security Securit Stock Initial accounting balance at the of the balance at the Accounting Sauce of
fair value of value changes amount in the t in the
category y code Abbreviation: investment cost measuremen beginning of the reporting end of the items the shares
the this period in equity this period this
t reporting period period reporting period
period
Domestic
Other equity
and Bank of 4,056,378,073.5 535,594,155.8 4,201,018,189.3 4,591,972,229.
600926 390,954,040.00 FVM Instrument Self funds
foreign Hangzhou 2 2 4 34
investment
stocks
Domestic
Transactiona Debt
and LUTIANHU 29,579.6
000912 2,869,219.80 FVM 1,681,809.34 29,579.62 -1,157,830.84 1,711,388.96 l Financial restructurin
foreign A 2
Assets g
stocks
Transactiona
Convertibl 687,572,000.0
110079 HBCB 687,572,000.00 FVM 0.00 0.00 0.00 0.00 687,572,000.00 l Financial Self funds
e bond 0
Assets
1,081,395,259.8 4,058,059,882.8 535,623,735.4 4,199,860,358.5 687,572,000.0 29,579.6 5,281,255,618.
Total -- 0.00 -- --
0 6 4 0 0 2 30
Disclosure Date of Announcement
on Securities Investment
Approved by the Board of
Directors
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Hangzhou Steam Turbine Co., Ltd. The First Quarterly Report 2021(Text)
Disclosure Date of Announcement
on Securities Investment
Approved by the Shareholders
Meeting(If any)
2.Investment in derivatives
□ Applicable √Not applicable
There is no derivative investment during the report period.
V. Progress of investment projects with raised funds
□ Applicable √Not applicable
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Hangzhou Steam Turbine Co., Ltd. The First Quarterly Report 2021(Text)
VI. Prediction of the performances from January to June 2021
Estimation on accumulative net profit from the beginning of the year to the end of next report period to be loss
probably or the warning of its material change compared with the corresponding period of the last year and
explanation on reason
□ Applicable √Not applicable
VII. Major contracts for daily operations
□ Applicable √ Not applicable
VIII. Entrusted Financial Management
√ Applicable □ Not applicable
In RMB10,000
Type Source Amount Unexpired balance Overdue amount
Bank financing product Idle own funds 152,000 101,000 0
Total 152,000 101,000 0
Specific Circumstance of Trust Investment which is large in single amount, low in security, poor in liquidity or
unguaranteed in high risk
□ Applicable √ Not applicable
Entrust financial expected to be unable to recover the principal or impairment might be occurred
□ Applicable √ Not applicable
IX. External guarantee get out of line
□ Applicable √Not applicable
The Company has no external guarantee get out of the line in the Period
X. Controlling shareholder and its related parties occupying non-business capital of the listed company
□ Applicable √Not applicable
There are no controlling shareholder and its related parties occupying non-business capital of the listed company
in Period
XI. The registration form of acceptance of investigation, communication and interview in the report period
for future reference
□ Applicable √Not applicable
No such cases in the reporting period.
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Hangzhou Steam Turbine Co., Ltd. The First Quarterly Report 2021(Text)
Hangzhou Steam Turbine Co., Ltd.
Chairman of the Board: Zheng Bin
April 27,2021
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