Hangzhou Steam Turbine Co., Ltd. The Third Quarterly Report 2021
Stock Code：200771 Stock ID: Hangqilun B Announcement No.:2021-93
Hangzhou Steam Turbine Co., Ltd.
The Third Quarterly Report 2021
The members of the Board and the Company acknowledge being responsible for the truthfulness, accuracy, and
completeness of the announcement. Not any false record, misleading statement or significant omission carried in
this announcement.
Important content reminder:
1.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.
2. Principal of the Company, Person in Charge of Accounting Works and Person in Charge of Accounting Organ
(Accounting Officer) hereby confirm that the Financial Report of the Third Quarterly Report is authentic, accurate
and complete.
3. Whether the Third Quarterly Report has been audited or not
□Yes √No
I. Main financial data
(I) Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data or not
□Yes √No
Increase/decrease in Increase/decrease from
the period year-begin to
Year-begin to
This period compared with the period-end compared
period-end
same period of the with the same period
previous year of the previous year
Operating income（Yuan） 1,114,367,481.21 -12.35% 4,080,387,932.28 23.91%
Net profit attributable to the shareholders of
151,725,602.91 14.71% 577,367,019.86 58.98%
the listed company（Yuan）
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of 143,471,580.39 28.30% 401,984,713.67 44.95%
listed company（Yuan）
Cash flow generated by business operation,
—— —— -134,439,561.16 -164.08%
net（Yuan）
Basic earning per share(Yuan/Share) 0.20 11.11% 0.77 60.42%
Diluted gains per share(Yuan/Share) 0.20 11.11% 0.77 60.42%
Weighted average return on equity（%） 1.80% -0.12% 6.95% 1.73%
Increase/decrease at the period-end
End of this period End of last period compared with the end of the previous
year
Gross assets（Yuan） 15,537,499,466.07 15,392,653,924.41 0.94%
Net assets attributable to the shareholders of
8,505,015,096.94 8,104,788,941.36 4.94%
the listed company（Yuan）
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Hangzhou Steam Turbine Co., Ltd. The Third Quarterly Report 2021
（II)Items and amount of non-current gains and losses
√ Applicable □ Not applicable
In RMB
Amount from
Items This period year-begin to period Notes
-end
Non-current asset disposal gain/loss(including the write-off part for which assets
-1,634,669.09 -74,706,946.57
impairment provision is made)
Tax refund, deduction and exemption that is examined and approved by authority
0.00 0.00
exceeding or has no official approval document.
Governmental Subsidy accounted as current gain/loss, except for those subsidies
at with amount or quantity fixed by the national government and closely related 2,810,019.00 90,351,803.25
to the Company’s business operation.
Capital occupation charges on non-financial enterprises that are recorded into
0.00 0.00
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 enjoyable fair value of the 0.00 0.00
identifiable net assets of the investees when making the investments
Gain/loss on non-monetary asset swap 0.00 0.00
Gain/loss on entrusting others with investments or asset management 0.00 0.00
Asset impairment provisions due acts of God such as natural disasters 0.00 0.00
Gains/losses of debt restructure 0.00 0.00
Reorganization expenses, such as expenditure for allocation of employees and
0.00 0.00
integration fee
Gains/losses exceeding the fair value arising from transactions with obviously
0.00 0.00
unfair prices
Net gain and loss of the subsidiary under the common control and produced from
enterprise consolidation from the beginning of the period to the consolidation 0.00 0.00
date
Gain and loss arising from contingent matters irrelevant with the Company’s
0.00 0.00
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 3,412,571.67 74,834,129.59
liabilities 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 undergoing
0.00 0.00
impairment test individually
Gain/loss from external entrusted loan 0.00 0.00
Gain and loss arising from change in the fair value of the investment based real
0.00 0.00
estate measure afterwards by means of fair value model
Influence upon the current gains and losses from the once-and –for –all
adjustment over the current gains and losses according to the taxation and 0.00 0.00
accounting laws and regulations
Income from custodian charge obtained from entrusted operation 0.00 0.00
Other non-operating income and expenditure except for the aforementioned items 6,791,776.32 118,609,377.53
Other profit and loss items that meet the definition of non-operating profit and
0.00 0.00
loss
Less: Influenced amount of income tax 1,775,179.94 31,933,050.54
Amount of influence of minority interests（After tax） 1,350,495.44 1,773,007.07
Total 8,254,022.52 175,382,306.19 --
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Hangzhou Steam Turbine Co., Ltd. The Third Quarterly Report 2021
Other gain/loss items that qualified the definition of non-recurring profit (gains)/losses:
□ Applicable √ Not applicable
The Company does not have other gain/loss items that qualified the definition of non-recurring profit
(gains)/losses
Explanation on those non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information Disclosure
for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as recurring gain/loss
□ Applicable √ Not applicable
The Company does not have the non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information
Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as
recurring gain/loss
(III) Particulars about changes in items of main accounting data and financial index and explanations of
reasons
√ Applicable □Not applicable
Scale of
Items September 30,2021 December 31,2020 Remarks on the change
change
Mainly due to the completion of the settlement of taxes
and fees for the relocation compensation in the current
period; the one-time paid corporate income tax of 178
Monetary fund 1,462,293,595.04 1,829,481,187.49 -20.07% million yuan; the return of the investment to China
Development Fund Co., Ltd of 155 million yuan in the
current period; and the payment of cash dividends of 184
million yuan.
Mainly due to the increase in collection in the current
period compared with the previous year, and the
Notes receivable 165,213,462.85 118,107,076.67 39.88%
corresponding increase in the amount settled by means of
bills.
Mainly due to the arrival of auxiliary equipment
Prepayments 422,943,538.49 577,604,707.85 -26.78%
purchased externally.
Other account
28,932,952.36 20,786,864.53 39.19% Mainly due to the increase in bid deposits
receivable
Mainly due to the Zhongrun Company invested by
Long term share Turbine Company is included in the scope of
11,456,132.77 23,355,441.61 -50.95%
equity investment consolidation in the current period, and the offsets in
long-term equity investment in consolidated statement;
Mainly due to the completion of the tax settlement of the
relocation compensation in the current period, and the
Tax payable 63,426,850.94 281,909,641.60 -77.50%
one-time payment of corporate income tax of 178 million
yuan.
Mainly due to the implementation of equity incentives in
Other account
135,796,863.55 75,212,591.46 80.55% the current period, and the newly-increased restricted
payable
stock repurchase obligation of 102 million yuan;
Mainly due to the return of the investment fund of 155
million yuan to China Development Fund Co., Ltd in the
Long-term
148,140,258.60 405,872,616.77 -63.50% current period; the recognition of the relocation
payable[Note]
compensation income for the transfer of assets in the
current period.
Same period of last Scale of
Items This period Remarks on the change
year change
Mainly due to the sales in the same period last year were
affected by the "new coronavirus " epidemic, and the
Business income 4,080,387,932.28 3,293,030,746.28 23.91% business situation in the current period has basically
recovered and the sales revenue has increased
significantly YOY
Mainly due to the increase in sales revenue, thus led to
Business costs 2,847,773,666.69 2,276,803,708.54 25.08%
the increase in costs.
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Hangzhou Steam Turbine Co., Ltd. The Third Quarterly Report 2021
It is mainly because the current travel expenses and
hospitality expenses for business recovery increased year
Sale expenses 120,338,054.95 96,349,471.90 24.90%
on year due to the impact of the "COVID-19" pandemic
in the same period last year.
It is mainly the employee salary growth due to
Administrative performance growth; In the same period of last year, it
466,012,443.27 374,224,300.64 24.53%
expenses was entitled to social security relief due to the
"pandemic".
Mainly due to the increase in R&D investment in the
R & D Costs 245,059,239.44 149,057,849.53 64.41%
current period.
Mainly due to the net exchange gains in the current
Financial expenses -12,881,126.27 -1,198,769.64 -974.53% period and there was net exchange losses in the same
period last year.
Loss of asset Mainly due to the write-back of contract asset
2,718,306.03 15,851,798.37 -82.85%
impairment impairment losses.
Mainly due to the impact of the “new coronavirus”
epidemic in the same period last year, the collection
Credit impairment cycle of accounts receivable increased, however the
26,238,443.31 -89,777,885.50 129.23%
loss collection situation in the current period is significantly
better than that of the previous period, and the bad debts
accrued are reversed.
Income from fair Mainly due to change in the fair value of stocks held in
-719,371.14 -563,570.54 -27.65%
value change the current period.
Mainly due to the recognition of the investment income
Investment income 164,218,127.24 130,972,800.84 25.38% of the convertible bonds of Bank of Hangzhou in the
current period.
Mainly due to the recognition of relocation compensation
Other income 114,508,551.87 68,706,906.98 66.66%
income for the transfer of assets in the current period.
Mainly due to the cancellation of the gas turbine contract
Non-operating for the Huoqiu project with Sinosteel Equipment Co., Ltd
127,251,475.25 14,770,331.02 761.53%
income and the confirmed losses compensation of 109 million
yuan.
Non-operating Mainly due to the recognition of relocation losses for the
83,696,721.67 12,482,460.91 570.51%
expenses transfer of assets in the current period.
Mainly due to the sales were affected by the “new
coronavirus” epidemic in the same period last year,
however the business situation in the current period has
basically recovered, and the gross profit of sales
Total of profit 743,637,832.55 505,926,151.00 46.99%
increased by 216 million yuan YOY; and the gained
losses compensation of 109 million yuan for the gas
turbine contract of Huoqiu project dissolved with
Sinosteel Equipment Co., Ltd under court mediation.
Income tax Mainly due to the increase in total profit and the
96,929,021.29 63,090,730.25 53.63%
expenses corresponding increase in income tax.
Mainly due to the YOY increase in income and profits in
the current period and the completion of the tax
Cash flow
settlement of the relocation compensation in the current
generated by
-134,439,561.16 209,790,650.02 -164.08% period, which led to the increase in the "taxes paid" in the
business operation,
current period; in addition, the increase in performance
net
and the increase in employee remuneration resulted in the
YOY increase in "cash paid for employees".
Mainly due to the net purchase of wealth management
products during the current period decreased by 311
Net cash flow million YOY; the YOY decrease in expenditures for
generated by 87,938,282.17 -322,911,320.64 127.23% steam turbine heavy industry construction projects
investment resulted in a YOY decrease in "cash paid for the purchase
and construction of fixed assets, intangible assets and
other long-term assets".
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Hangzhou Steam Turbine Co., Ltd. The Third Quarterly Report 2021
[Note]Including special payable
II. Shareholders Information
(I) Total number of common shareholders and preference shareholders with voting rights recovered and
top ten common shareholders
In shares
Total number of common Total preference shareholders with the voting power
10,764 0
shareholders at the period-end recovered at the end of the reporting period(if any)
Shares held by the top 10 shareholders
Amount of Pledging or
freezing
Share
Properties of tradable shares
Shareholder name proporti Quantity Status of
shareholder Quantit
on % with Conditional the
y
shares
held
State-owned
Hangzhou Steam Turbine Power Group Co., Ltd. 63.64% 479,824,800 479,824,800
legal person
GUOTAI JUNAN SECURITIES(HONGKONG) Foreign legal
0.95% 7,174,515 0
LIMITED person
State-owned
China Merchants Securities(HK)Co., Ltd. 0.73% 5,467,368 0
legal person
VANGUARD TOTAL INTERNATIONAL STOCK Foreign legal
0.66% 5,012,509 0
INDEX FUND person
Domestic
Zhou Jie 0.61% 4,621,400 0
Natural person
VANGUARD EMERGING MARKETS STOCK Foreign legal
0.56% 4,217,482 0
INDEX FUND person
ISHARES CORE MSCI EMERGING MARKETS Foreign legal
0.52% 3,898,263 0
ETF person
Foreign legal
NORGES BANK 0.33% 2,514,529 0
person
Domestic
Xia Zulin 0.31% 2,320,000 0
Natural person
Domestic
Gu Yang 0.21% 1,568,324 0
Natural person
Shares held by the Top 10 Shareholders of Non-restricted shares
Number of the Share type
Shareholders’ Names non-restricted
Share type Quantity
shares held
Foreign shares placed
GUOTAI JUNAN SECURITIES(HONGKONG) LIMITED 7,174,515 7,174,515
in domestic exchange
Foreign shares placed
China Merchants Securities(HK)Co., Ltd. 5,467,368 5,467,368
in domestic exchange
Foreign shares placed
VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND 5,012,509 5,012,509
in domestic exchange
Foreign shares placed
Zhou Jie 4,621,400 4,621,400
in domestic exchange
Foreign shares placed
VANGUARD EMERGING MARKETS STOCK INDEX FUND 4,217,482 4,217,482
in domestic exchange
Foreign shares placed
ISHARES CORE MSCI EMERGING MARKETS ETF 3,898,263 3,898,263
in domestic exchange
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Hangzhou Steam Turbine Co., Ltd. The Third Quarterly Report 2021
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 1,568,324 1,568,324
in domestic exchange
Foreign shares placed
Wang Yihu 1,539,966 1,539,966
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) Other Shareholders. is not an
Explanation on associated relationship or concerted action of the above
action-in-concert” party with any of other shareholders
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 &
None
securities lending (If any)
(II) Total shareholders with preferred stock held and shares held by top ten shareholders with preferred
stock held
□ Applicable √ Not applicable
III. Other significant events
√ Applicable □ Not applicable
1. Restricted stock incentive plan of 2021
1) On July 11, 2021, the 14th meeting of the eighth board of directors of the Company was held, in which the
"Proposal on the Company's 2021 Restricted Stock Incentive Plan (Draft)" and its Summary, the “Proposal on the
Implementation Evaluation and Management Measures of the Stock Incentive Plan” and the “Proposal on the
Request to the General Meeting of Shareholders to Authorize the Board of Directors to Deal with Matters Related
to the 2021 Restricted Stock Incentive Plan” were deliberated and approved, and the afore-mentioned proposals
were reviewed and approved by the ninth meeting of the eighth Board of Supervisors of the Company.
2) On August 12, 2021, the Company disclosed the "Announcement on the Approval by the Hangzhou SASAC for
the Stock Incentive Plan". The Company received the "Approval on Hangzhou Steam Turbine Co., Ltd's 2021
Restricted Stock Incentive Plan" by the State-owned Assets Supervision and Administration Commission of the
Hangzhou Municipal People's Government (No. 45 -[2021] Hang Guo Zi Kao), and the Hangzhou SASAC agreed
in principle to the Company's implementation of its 2021 restricted stock incentive plan.
3) On August 27, 2021, the Company held the second Provisional general meeting of shareholders in 2021, in
which the "Proposal on the Company's 2021 Restricted Stock Incentive Plan (Draft)" and its Summary, the
“Proposal on the Implementation Evaluation and Management Measures of the Stock Incentive Plan” and the
“Proposal on the Request to the General Meeting of Shareholders to Authorize the Board of Directors to Deal with
Matters Related to the 2021 Restricted Stock Incentive Plan” were deliberated and approved,
4) On August 30, 2021, the "Proposal on Granting Restricted Stocks to Incentive Objects for the First Time" was
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Hangzhou Steam Turbine Co., Ltd. The Third Quarterly Report 2021
reviewed and approved in the 16th meeting of the 8th Board of Directors and the 11th meeting of the 8th Board of
Supervisors held by the Company. The board of directors of the Company considered that the conditions for
granting restricted stocks as stipulated in the incentive plan have been met, and agreed to grant 18.17 million
restricted stocks to 457 incentive objects that meet the granting conditions on September 1, 2021 with the grant
price of HKD 6.825 per share.
IV. Quarterly financial statements
（I）Financial statement
1. Consolidated balance sheet
Prepared by:：Hangzhou Steam Turbine Co., Ltd.
In RMB
Items September 30,2021 December 31,2020
Current asset：
Monetary fund 1,462,293,595.04 1,829,481,187.49
Settlement provision
Outgoing call loan
Transactional financial assets 975,835,414.52 1,021,681,809.34
Derivative financial assets
Notes receivable 165,213,462.85 118,107,076.67
Account receivable 1,853,099,928.02 1,618,798,305.46
Financing receivable 794,883,045.54 774,663,468.76
Prepayments 422,943,538.49 577,604,707.85
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Other account receivable 28,932,952.36 64,392,157.13
Including：Interest receivable
Dividend receivable 43,605,292.60
Repurchasing of financial assets
Inventories 2,512,417,807.79 2,171,753,113.46
Contract assets 566,865,058.01 486,569,325.17
Assets held for sales
Non-current asset due within 1 year
Other current asset 47,627,914.45 48,964,817.02
Total of current assets 8,830,112,717.07 8,712,015,968.35
Non-current assets：
Loans and payment on other’s behalf disbursed
Creditor's Investment
Other Creditor's Investment
Long-term receivable
Long term share equity investment 11,456,132.77 23,355,441.61
Other equity instruments investment 4,059,096,825.58 4,056,378,073.52
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Hangzhou Steam Turbine Co., Ltd. The Third Quarterly Report 2021
Other non-current financial assets 16,503,105.13 18,376,081.45
Property investment
Fixed assets 1,223,263,083.54 1,094,505,770.45
Construction in progress 757,865,094.91 804,921,709.95
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 238,211,995.71 273,812,314.29
Development expenses
Goodwill
Long-germ expenses to be amortized
Deferred income tax asset 400,990,511.36 409,288,564.79
Other non-current asset
Total of non-current assets 6,707,386,749.00 6,680,637,956.06
Total of assets 15,537,499,466.07 15,392,653,924.41
Current liabilities
Short-term loans 213,800,000.00 216,722,803.41
Loan from Central Bank
Borrowing funds
Transactional financial liabilities
Derivative financial liabilities
Notes payable 194,854,601.95 230,724,303.75
Account payable 1,347,468,510.00 1,207,797,820.78
Advance receipts
Contract liabilities 2,925,111,064.24 2,871,186,991.05
Selling of repurchased financial assets
Deposit taking and interbank deposit
Entrusted trading of securities
Entrusted selling of securities
Employees’ wage payable 118,501,748.19 116,400,157.12
Tax payable 63,426,850.94 281,909,641.60
Other account payable 135,796,863.55 75,212,591.46
Including：Interest payable 136,986.30
Dividend payable
Fees and commissions payable
Reinsurance fee payable
Liabilities held for sales
Non-current liability due within 1 year 500,000.00 1,001,088.89
Other current liability 378,444,327.29 374,106,541.36
Total of current liability 5,377,903,966.16 5,375,061,939.42
Non-current liabilities：
Reserve fund for insurance contracts
Long-term loan 21,600,000.00 21,623,520.00
Bond payable
Including：preferred stock
Sustainable debt
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Hangzhou Steam Turbine Co., Ltd. The Third Quarterly Report 2021
Lease liability
Long-term payable 148,140,258.60 405,872,616.77
Long-term remuneration payable to staff
Expected liabilities
Deferred income 482,517,778.09 489,416,290.74
Deferred income tax liability 550,221,417.84 550,540,278.99
Other non-current liabilities
Total non-current liabilities 1,202,479,454.53 1,467,452,706.50
Total of liability 6,580,383,420.69 6,842,514,645.92
Owners’ equity
Share capital 754,010,400.00 754,010,400.00
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 158,232,700.43 153,617,619.65
Less：Shares in stock 144,078,948.09 144,078,948.09
Other comprehensive income 3,117,537,050.89 3,114,962,386.84
Special reserve 16,983,676.15 17,699,635.27
Surplus reserves 621,112,807.78 621,112,807.78
Common risk provision
Retained profit 3,981,217,409.78 3,587,465,039.91
Total of owner’s equity belong to the parent company 8,505,015,096.94 8,104,788,941.36
Minority shareholders’ equity 452,100,948.44 445,350,337.13
Total of owners’ equity 8,957,116,045.38 8,550,139,278.49
Total of liabilities and owners’ equity 15,537,499,466.07 15,392,653,924.41
Legal Representative: Zheng Bin Person in charge of accounting：Zhao Jiamao Accounting Dept Leader: Jin Can
2. Consolidated Income statement between the beginning of the year and end of the report period
In RMB
Items Amount in this period Amount in last period
I. Turnover 4,080,387,932.28 3,293,030,746.28
Including：Operating income 4,080,387,932.28 3,293,030,746.28
Interest income
Insurance fee earned
Commission charge and commission income
II. Total operating costs 3,687,355,026.18 2,914,829,558.53
Including ：Operating costs 2,847,773,666.69 2,276,803,708.54
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Appropriation of deposit for duty, net
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 21,052,748.10 19,592,997.56
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Hangzhou Steam Turbine Co., Ltd. The Third Quarterly Report 2021
Sales expense 120,338,054.95 96,349,471.90
Administrative expense 466,012,443.27 374,224,300.64
R & D expense 245,059,239.44 149,057,849.53
Financial expenses -12,881,126.27 -1,198,769.64
Including：Interest expense 5,329,306.31
Interest income 17,901,857.94
Add：Other income 114,508,551.87 68,706,906.98
Investment gain（“-”for loss） 164,218,127.24 130,972,800.84
Including: investment gains from affiliates
Financial assets measured at amortized cost cease to be recognized as
income
Gains from currency exchange
Net exposure hedging income
Changing income of fair value -719,371.14 -563,570.54
Credit impairment loss 26,238,443.31 -89,777,885.50
Impairment loss of assets 2,718,306.03 15,851,798.37
Assets disposal income 86,115.56 247,042.99
III. Operating profit（“-”for loss） 700,083,078.97 503,638,280.89
Add ：Non-operating income 127,251,475.25 14,770,331.02
Less: Non-operating expense 83,696,721.67 12,482,460.91
IV. Total profit(“-”for loss) 743,637,832.55 505,926,151.00
Less：Income tax expenses 96,929,021.29 63,090,730.25
V. Net profit 646,708,811.26 442,835,420.75
(I) Classification by business continuity
1.Net continuing operating profit 646,708,811.26 442,835,420.75
2.Termination of operating net profit
(II) Classification by ownership
1.Net profit attributable to the owners of parent company 577,367,019.86 363,173,795.29
2.Minority shareholders’ equity 69,341,791.40 79,661,625.46
VI. Net after-tax of other comprehensive income 2,930,308.14 605,384,949.78
Net of profit of other comprehensive income attributable to owners of the par 2,574,664.05 605,431,537.23
ent company.
（I）Other comprehensive income items that will not be reclassified into
2,310,939.26 605,466,083.75
gains/losses in the subsequent accounting period
1.Re-measurement of defined benefit plans of changes in net debt or net asset
s
2.Other comprehensive income under the equity method investee can not be r
eclassified into profit or loss.
3. Changes in the fair value of investments in other equity instruments 2,310,939.26 605,466,083.75
4. Changes in the fair value of the company’s credit risks
5.Other
(II)Other comprehensive income that will be reclassified into profit or loss 263,724.79 -34,546.52
1.Other comprehensive income under the equity method investee can be recla
ssified into profit or loss.
2. Changes in the fair value of investments in other debt obligations
3. Other comprehensive income arising from the reclassification of financial
10
Hangzhou Steam Turbine Co., Ltd. The Third Quarterly Report 2021
assets
4.Allowance for credit impairments in investments in other debt obligations
5. Reserve for cash flow hedges
6.Translation differences in currency financial statements 263,724.79 -34,546.52
7.Other
Net of profit of other comprehensive income attributable to Minority
355,644.09 -46,587.45
shareholders’ equity
VII. Total comprehensive income 649,639,119.40 1,048,220,370.53
Total comprehensive income attributable to the owner of the parent company 579,941,683.91 968,605,332.52
Total comprehensive income attributable minority shareholders 69,697,435.49 79,615,038.01
VIII. Earnings per share
（I）Basic earnings per share 0.77 0.48
(II)Diluted earnings per share 0.77 0.48
Legal Representative: Zheng Bin Person in charge of accounting：Zhao Jiamao Accounting Dept Leader: Jin Can
3. Consolidated Cash Flow Statement Between the Beginning of the Year and End of the Report Period
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 3,387,546,814.72 2,607,152,774.53
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
Cash received from interest, commission charge and commission
Net increase of inter-bank fund received
Net increase of repurchasing business
Net cash received by agent in securities trading
Tax returned 9,351,243.94 22,819,721.43
Other cash received from business operation 21,099,352.58 77,016,992.26
Sub-total of cash inflow 3,417,997,411.24 2,706,989,488.22
Cash paid for purchasing of merchandise and services 2,227,826,121.76 1,566,748,951.77
Net increase of client trade and advance
Net increase of savings in central bank and brother company
Cash paid for original contract claim
Net increase for Outgoing call loan
Cash paid for interest, processing fee and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 658,998,777.26 575,081,051.90
Taxes paid 475,337,117.75 206,435,051.56
Other cash paid for business activities 190,274,955.63 148,933,782.97
Sub-total of cash outflow from business activities 3,552,436,972.40 2,497,198,838.20
Net cash generated from /used in operating activities -134,439,561.16 209,790,650.02
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Hangzhou Steam Turbine Co., Ltd. The Third Quarterly Report 2021
II. Cash flow generated by investing
Cash received from investment retrieving 111,324,104.00
Cash received as investment gains 214,344,700.50 120,959,785.65
Net cash retrieved from disposal of fixed assets, intangible assets, and other
1,857,528.12 56,094.42
long-term assets
Net cash received from disposal of subsidiaries or other operational units
Other investment-related cash received 3,836,372,098.28 2,623,800,855.51
Sub-total of cash inflow due to investment activities 4,052,574,326.90 2,856,140,839.58
Cash paid for construction of fixed assets, intangible assets and other
176,064,044.73 301,575,885.22
long-term assets
Cash paid as investment 1,360,000.00
Net increase of loan against pledge
Net cash received from subsidiaries and other operational units
Other cash paid for investment activities 3,788,572,000.00 2,876,116,275.00
Sub-total of cash outflow due to investment activities 3,964,636,044.73 3,179,052,160.22
Net cash flow generated by investment 87,938,282.17 -322,911,320.64
III.Cash flow generated by financing
Cash received as investment 320,000.00
Including: Cash received as investment from minor shareholders
Cash received as loans 163,800,000.00 187,700,000.00
Other financing –related cash received 102,514,926.39
Sub-total of cash inflow from financing activities 266,634,926.39 187,700,000.00
Cash to repay debts 167,000,000.00 120,300,000.00
Cash paid as dividend, profit, or interests 264,576,562.25 249,711,915.24
Including: Dividend and profit paid by subsidiaries to minor shareholders
Other cash paid for financing activities 155,000,000.00 122,722,788.00
Sub-total of cash outflow due to financing activities 586,576,562.25 492,734,703.24
Net cash flow generated by financing -319,941,635.86 -305,034,703.24
IV. Influence of exchange rate alternation on cash and cash equivalents -2,289,765.75 -8,374,753.69
V.Net increase of cash and cash equivalents -368,732,680.60 -426,530,127.55
Add: balance of cash and cash equivalents at the beginning of term 1,710,208,279.45 1,645,907,650.92
VI ..Balance of cash and cash equivalents at the end of term 1,341,475,598.85 1,219,377,523.37
Legal Representative: Zheng Bin Person in charge of accounting：Zhao Jiamao Accounting Dept Leader: Jin Can
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Hangzhou Steam Turbine Co., Ltd. The Third Quarterly Report 2021
(II)Adjustments to the Financial Statements
1. Adjustment of the relevant items of the financial statements at the current year beginning according to
the new standards for financial instruments, the new standards for revenues and the new standards for
lease implemented commencing from year 2021
□ Applicable √ Not applicable
2. Note to the retroactive adjustment of the previous comparative data according to the new standards for
financial instruments and the new standards for lease implemented commencing from year 2021
□ Applicable √ Not applicable
（III）Auditor’ report
Is the Third Quarterly Report be audited?
□ Yes √No
The Third Quarterly report is not audited.
Hangzhou Steam Turbine Co., Ltd.
Chairman of the Board: Zheng Bin
October 21, 2021
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