Hangzhou Steam Turbine Power Group Co., Ltd. The First Quarterly Report 2023
Stock Code：200771 Stock ID: Hangqilun B Announcement No.:2023-40
Hangzhou Steam Turbine Power Group Co., Ltd.
The First Quarterly Report 2023
The Company and its directors hereby guarantee that the content of information disclosure is real,
accurate, complete and free from any false record, misleading representation or material omissions.
Important notes
1.The Board of Directors and the Supervisory Committee of the Company and its directors, supervisors and
senior executives should guarantee the reality, accuracy and completion of the quarterly report, there are no any
fictitious statements, misleading statements or important omissions carried in this report, and shall take legal
responsibilities, individual and or joint.
2. Person in charge of the Company, Person in charge of accounting and person in charge of accounting organ
(accounting officer) hereby confirm that the financial information of this Quarterly Report is authentic, accurate
and complete.
3. The first quarterly report 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
□Yes √No
Changes of this
Same period of last period over same
This period period of last
year
year（％）
Operating revenue（Yuan） 1,089,224,031.37 1,788,987,236.29 -39.12%
Net profit attributable to the shareholders
-48,089,348.88 184,043,460.08 -126.13%
of the listed company（Yuan）
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of -59,744,696.75 138,956,828.84 -143.00%
listed company（Yuan）
Net cash generated from /used in operating
-160,624,833.67 -124,850,206.32 -28.65%
activities（Yuan）
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Hangzhou Steam Turbine Power Group Co., Ltd. The First Quarterly Report 2023
Basic earning per share(Yuan/Share) -0.05 0.19 -126.32%
Diluted gains per share(Yuan/Share) -0.05 0.19 -126.32%
Weighted average return on equity（%） -0.59% 2.25% -2.84%
Changes of this
period-end over
End of this period End of last perid
same period-end
of last year(%)
Total assets（Yuan） 15,376,635,878.78 15,374,999,610.32 0.01%
Net assets attributable to the shareholders
7,952,554,107.78 8,328,481,114.19 -4.51%
of the listed company（Yuan）
(ii)Items and amount of non-current gains and losses
√ Applicable □ Not applicable
In RMB
Items Current amount Note
Non-current asset disposal gain/loss(including the write-off
-116,963.65
part 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.
Mainly due to the
government subsidy
Governmental Subsidy accounted as current gain/loss, except confirmed as
for those subsidies at with amount or quantity fixed by the compensation for the
12,138,811.58
national government and closely related to the Company’s relocation of the
Shiqiao Road factory
business operation. Area and Hangfa old
Factory.
Capital occupation charges on non-financial enterprises that
0.00
are 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
0.00
than the 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
0.00
of employees and integration fee
Gains/losses exceeding the fair value arising from
0.00
transactions with obviously unfair prices
Net gain and loss of the subsidiary under the common
control and produced from enterprise consolidation from the 0.00
beginning of the period to the consolidation date
Gain and loss arising from contingent matters irrelevant with
0.00
the Company’s normal operation business
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Hangzhou Steam Turbine Power Group Co., Ltd. The First Quarterly Report 2023
Gain and loss from change of the fair value arising from
transactional monetary assets, transactional financial
Mainly due to the
liabilities as held as well as the investment income arising
investment income of
from disposal of the transactional monetary assets, 3,949,106.72
bank wealth
transactional financial liabilities and financial assets
management products
available for sale excluding the effective hedging transaction
in connection with the Company’s normal business
Reverse of the provision for impairment of accounts
0.00
receivable 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 0.00
fair value model
Influence upon the current gains and losses from the once-
and –for –all adjustment over the current gains and losses
0.00
according to the taxation and accounting laws and
regulations
Income from custodian charge obtained from entrusted
0.00
operation
Operating income and expenses other than the aforesaid Mainly due to the
items -1,839,370.21 expenditure of quality
compensation.
Less: Influenced amount of income tax 1,167,105.76
Amount of influence of minority interests（After tax） 1,309,130.81
Total 11,655,347.87
Details of other gains/losses items that meets the definition of non-recurring gains/losses:
□ Applicable √ Not applicable
There are no other gains/losses items that meet the definition of non-recurring gains/losses in the Company.
Explain the items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss
in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public -
-- Extraordinary Profit/loss
□ Applicable √ Not applicable
There are no items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss
in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public -
-- Extraordinary Profit/loss.
(iii)Particulars about material changes in items of main accounting statement and financial index and
explanations of reasons
√ Applicable □Not applicable
Year-on-
year
Balance sheet items March 31,2023 December 31,2022 Reason
increase or
decrease
Mainly due to the decrease in the
Transactional
401,998,737.18 607,001,143.44 -33.77% purchase of wealth management
financial assets
products.
Mainly due to the increase in advance
Prepayments 761,339,817.36 401,523,615.49 89.61% payments for the purchase of gas
turbine engines.
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Hangzhou Steam Turbine Power Group Co., Ltd. The First Quarterly Report 2023
Mainly due to Zhongneng
Other account
68,625,925.66 25,366,963.26 170.53% Company’s payment of the land
receivable
deposit for the new production base.
Mainly due to the payment collection
Long-term
60,441,093.20 77,541,093.03 -22.05% of the new energy company's tiantie
receivable
project.
Mainly due to the capitalized R&D
expenses of Western Power Company
Development
969,931.44 —— innon-common control by holding
expenses
and merger byRanchuang company
in the current period.
Mainly due to the holding and merger
of Western Power Company under
Goodwill 8,417,413.42 ——
non-common control in the current
period by Ranchuang company.
Mainly due to the renovation cost
Long-germ expenses
336,422.02 —— that the casting company needs to
to be amortized
amortize over a long period of time.
Mainly due to the year-end bonus
Employees’ wage
73,695,189.98 139,014,673.58 -46.99% accrued at the end of the previous
payable
yearpaid in the current period.
Mainly due to the various taxes and
fees accrued at the end of the
Tax payable 30,342,534.14 73,385,124.09 -58.65%
previous year paid in the current
period.
Mainly due to the increase in
Long-term payable 15,573,963.11 11,104,088.21 40.25% relocation compensation for which
deferred gains are not recognized.
Mainly due to that Zhongneng
Other non-current
369,005,695.76 267,585,963.69 37.90% Company received the relocation
liabilities
compensation.
Year-on-
Income statement year
Current period Last period Reason
items increase or
decrease
Mainly due to the number of units
Business income 1,089,224,031.37 1,788,987,236.29 -39.12%
sold decreased YOY.
Mainly due to the decrease in
Business costs 845,186,181.43 1,268,556,153.69 -33.37% operating income and the YOY
decrease in operating costs.
Business tax and Mainly due to obtained land use tax
1,286,048.33 3,348,834.01 -61.60%
surcharge exemptions in the current period.
Mainly due to the decrease in the
Investment gain 3,949,106.72 12,491,713.99 -68.39% income from entrusted wealth
management in the current period.
Mainly due to the recognition of
Other income 12,442,934.82 3,751,924.89 231.64% depreciation of relocation assets in
the current period.
Mainly due to the decrease in sales
revenue and the decrease in sales
Operational profit -45,606,116.24 201,265,282.37 -122.66% gross margin due to the impact of
product structure in the current
period.
Non-operating Mainly due to the recognition of
364,827.31 39,983,542.00 -99.09%
income liquidated damages revenue from
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Hangzhou Steam Turbine Power Group Co., Ltd. The First Quarterly Report 2023
long-term suspension units in the
previous period
The reason for the change was the
Total profit -47,866,573.34 238,762,221.52 -120.05%
same as the operating profit
Mainly due to a YOY decrease in
Income tax expenses -6,218,890.23 40,840,560.27 -115.23%
total profit
The reason for the change was the
Net profit -41,647,683.11 197,921,661.25 -121.04%
same as the operating profit
Net profit
attributable to the The reason for the change was the
-48,089,348.88 184,043,460.08 -126.13%
owners of parent same as the operating profit
company
Minority The reason for the change was the
6,441,665.77 13,878,201.17 -53.58%
shareholders’ equity same as the operating profit
Cash flow generated Mainly due to the increase in cash
by business -160,624,833.67 -124,850,206.32 -28.65% payments for the purchase of gas
turbines and other stocks.
operation, net
Net cash flow Mainly due to the YOY decrease in
generated by 223,557,436.19 126,672,172.27 76.48% net purchases of wealth management
products.
investment
Net cash flow
Mainly due to the YOY increase in
generated by 14,898,142.27 -3,028,838.60 591.88%
net bank loans.
Financing
Influence of
Mainly due to exchange rate changes
exchange rate
-3,660,647.00 -581,538.97 -529.51% led to the increase in the exchange
alternation on cash
loss of foreign currency funds held.
and cash equivalents
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 recovered
11,117
shareholders at the at the end of the reporting period(if any)
period-end
Shares held by the top 10 shareholders
Pledging or
freezing
Properties of Share Amount of tradable shares
Shareholder name Quantity Status
shareholder proportion % with Conditional held of the Quantity
shares
Hangzhou Steam
State-owned
Turbine Holdings 63.67% 623,772,240 623,772,240
legal person
Co., Ltd.
Domestic
China Merchants
Non State-
Securities(HK)Co., 0.71% 6,970,988
owned legal
Ltd.
person
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Hangzhou Steam Turbine Power Group Co., Ltd. The First Quarterly Report 2023
GUOTAI JUNAN
SECURITIES
Foreign
（HONG 0.66% 6,499,345
legal person
KONG）
LIMITED
Domestic
Zhou Jie Natural 0.66% 6,438,700
person
ISHARES CORE
MSCI Foreign
0.57% 5,604,862
EMERGING legal person
MARKETS ETF
VANGUARD
TOTAL
Foreign
INTERNATIONAL 0.56% 5,482,009
legal person
STOCK INDEX
FUND
VANGUARD
EMERGING
Foreign
MARKETS 0.52% 5,120,287
legal person
STOCK INDEX
FUND
Foreign
NORGES BANK 0.33% 3,268,888
legal person
Domestic
Xia Zulin Natural 0.32% 3,170,000
person
Domestic
Gu Yang Natural 0.21% 2,038,821
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 in
China Merchants Securities(HK)Co., Ltd. 6,970,988 6,970,988
domestic exchange
GUOTAI JUNAN SECURITIES（HONG Foreign shares placed in
6,499,345 6,499,345
KONG） LIMITED domestic exchange
Foreign shares placed in
Zhou Jie 6,438,700 6,438,700
domestic exchange
ISHARES CORE MSCI EMERGING MARKETS Foreign shares placed in
5,604,862 5,604,862
ETF domestic exchange
VANGUARD TOTAL INTERNATIONAL Foreign shares placed in
5,482,009 5,482,009
STOCK INDEX FUND domestic exchange
VANGUARD EMERGING MARKETS STOCK Foreign shares placed in
5,120,287 5,120,287
INDEX FUND domestic exchange
Foreign shares placed in
NORGES BANK 3,268,888 3,268,888
domestic exchange
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Hangzhou Steam Turbine Power Group Co., Ltd. The First Quarterly Report 2023
Foreign shares placed in
Xia Zulin 3,170,000 3,170,000
domestic exchange
Foreign shares placed in
Gu Yang 2,038,821 2,038,821
domestic exchange
Foreign shares placed in
Wang Yihu 2,001,956 2,001,956
domestic exchange
(1)It is unknown to the Company if there is any relationship among the top 10
Explanation on associated common share holders without restriction. (2) Other Shareholders. is not an action-
relationship or concerted action of in-concert” party with any of other shareholders as described by the
the above shareholders “Administration Rules of Informational Disclosure about Change of Shareholding
Statues of PLCs”.
Note to the top 10 common
stockholders involved in margin
Not applicable
financing & 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. On January 13, 2023, the Company held the 31st meeting of the eighth Meeting of the board of directors,
in which the "Proposal on Increasing Capital in Zhejiang Ranchuang Namely Investing in Western Power" was
deliberated and passed. Ranchuang Company, a wholly-owned subsidiary of the Company, acquired 20% of the
equity of Western Power Company transferred by Chengdu Meijiang Investment Group Co., Ltd at a price not
higher than the appraisal value of the corresponding equity asset in the appraisal filing, respectively acquired 15%
and 3% of the equity of Western Power Company held by Liaoning Paison Energy Technology Service Co., Ltd
and the natural person Liu Yuhuan at a price of 1.27 yuan per unit of registered capital, and subscribed for the
registered capital of 43 million yuan of the capital increase of Western Power Company at a price of 1.27 yuan
per unit of registered capital. For details, please refer to the "Announcement on Increasing Capital in Zhejiang
Ranchuang Namely Investing in Western Power" disclosed by the Company on January 17,
2023(Announcement No.:2023-02). The afore-said matters have completed the registration procedures for
industrial and commercial changes on March 31, 2023, and obtained the "Business License" renewed by the
Pengzhou Administrative Examination and Approval Bureau, Zhejiang Ranchuang holds 56.64% of the equity
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Hangzhou Steam Turbine Power Group Co., Ltd. The First Quarterly Report 2023
of Western Power, and Western Power is included in the scope of consolidation of the Company's financial
statement in the current period.
2. On February 3, 2023, the Company received a notice from Hangzhou Steam Turbine Holdings Co., Ltd
(hereinafter referred to as "Steam Turbine Holdings")-the Company's controlling shareholder, that Steam
Turbine Holdings intends to transfer its 5% non-tradable shares of the Company through a public solicitation
transfer. For details, please refer to the "Indicative Announcement on the Controlling Shareholder's Intention to
Transfer the Company's Shares by Agreement through Public Solicitation and Transfer" disclosed by the
Company on February 6, 2023(Announcement No.:2023-04). On March 10, 2023, the Company received a
written notice from SteamTurbine Holdings that the public solicitation and transfer plan has been filed by the
state-owned assets management information system. On March 11, 2023, the Company disclosed the
"Announcement on the Controlling Shareholder's Intention to Transfer the Company's Shares by Agreement
through Public Solicitation and Transfer"(Announcement No.:2023-06), and the Company's controlling
shareholder-Steam Turbine Holdings intends to transfer 49,008,999 sharesof the Company-accounting for 5% of
the total share capital of the Company held by it by agreement through public solicitation and transfer, and the
transfer price is not less than 8.95 yuan per share. After the comprehensive review by Steam Turbine Holdings,
Hangzhou Qitong Equity Investment Partnership (Limited Partnership) (hereinafter referred to as "Hangzhou
Qitong") was finally determined to be the intended transferee of this public solicitation transfer, and Steam
Turbine Holdings and Hangzhou Qitong signed the Share Transfer Agreement with conditional effect on April 3,
2023. For details, please refer to the "Announcement on the Progress of the Transfer of the Company's Shares
by Controlling Shareholder by Agreement through Public Solicitation and Transfer Namely the Signing of the
Share Transfer Agreement" disclosed by the Company on April 4, 2023. As at the disclosure date of this report,
the approval and share delivery of the afore-said Share Transfer Agreement have not yet been completed.
IV. Quarterly financial statements
（i）Financial statement
1. Consolidated balance sheet
Prepared by:：Hangzhou Steam Turbine Power Group Co., Ltd.
March 31,2023
In RMB
Items Ending balance Opening balance
Current asset：
Monetary fund 2,029,150,885.69 1,954,980,787.90
Settlement provision
Outgoing call loan
Transactional financial assets 401,998,737.18 607,001,143.44
Derivative financial assets
8
Hangzhou Steam Turbine Power Group Co., Ltd. The First Quarterly Report 2023
Notes receivable 93,845,625.27 95,612,927.26
Account receivable 1,938,500,433.83 1,924,679,367.08
Financing receivable 812,569,252.10 817,555,768.45
Prepayments 761,339,817.36 401,523,615.49
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Other account receivable 68,625,925.66 25,366,963.26
Including：Interest receivable
Dividend receivable
Repurchasing of financial assets
Inventories 2,352,050,607.88 2,322,461,286.52
Contract assets 654,712,040.24 587,719,735.46
Assets held for sales
Non-current asset due within 1 year
Other current asset 66,117,629.60 78,949,731.48
Total of current assets 9,178,910,954.81 8,815,851,326.34
Non-current assets：
Loans and payment on other’s behalf disbursed
Creditor's Investment
Other Creditor's Investment
Long-term receivable 60,441,093.20 77,541,093.03
Long term share equity investment
Other equity instruments investment 3,156,471,141.66 3,556,127,694.48
Other non-current financial assets 5,534,773.22 5,534,773.22
Property investment 6,243,827.58 6,451,478.55
Fixed assets 1,943,886,477.53 1,926,594,610.89
Construction in progress 307,158,094.46 286,290,854.97
Production physical assets
Oil & gas assets
Use right assets 25,835,263.04 28,105,943.29
Intangible assets 283,504,898.69 274,844,788.47
Development expenses 969,931.44
Goodwill 8,417,413.42
Long-germ expenses to be amortized 336,422.02
Deferred income tax asset 354,247,983.24 352,734,092.61
Other non-current asset 44,677,604.47 44,922,954.47
Total of non-current assets 6,197,724,923.97 6,559,148,283.98
Total of assets 15,376,635,878.78 15,374,999,610.32
Current liabilities
Short-term loans 315,500,000.00 287,753,227.89
Loan from Central Bank
Borrowing funds
Transactional financial liabilities
Derivative financial liabilities
Notes payable 490,546,465.91 411,886,347.73
Account payable 1,352,129,549.11 1,202,915,727.29
Advance receipts 230,204.48 230,204.48
Contract liabilities 2,381,648,029.12 2,306,912,441.68
Selling of repurchased financial assets
Deposit taking and interbank deposit
Entrusted trading of securities
Entrusted selling of securities
Employees’ wage payable 73,695,189.98 139,014,673.58
Tax payable 30,342,534.14 73,385,124.09
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Hangzhou Steam Turbine Power Group Co., Ltd. The First Quarterly Report 2023
Other account payable 189,241,677.45 203,788,336.85
Including：Interest payable 565.28
Dividend payable 90,000.00
Fees and commissions payable
Reinsurance fee payable
Liabilities held for sales
Non-current liability due within 1 year 39,201,831.97 42,802,886.86
Other current liability 369,005,695.76 267,585,963.69
Total of current liability 5,241,541,177.92 4,936,274,934.14
Non-current liabilities：
Reserve fund for insurance contracts
Long-term loan 164,700,000.00 159,903,673.86
Bond payable
Including：preferred stock
Sustainable debt
Lease liability 16,222,585.72 16,334,023.10
Long-term payable 15,573,963.11 11,104,088.21
Long-term remuneration payable to staff
Expected liabilities
Deferred income 940,308,935.71 877,381,129.85
Deferred income tax liability 418,639,074.87 474,809,014.19
Other non-current liabilities
Total non-current liabilities 1,555,444,559.41 1,539,531,929.21
Total of liability 6,796,985,737.33 6,475,806,863.35
Owners’ equity
Share capital 980,179,980.00 980,179,980.00
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 406,952,515.42 394,935,862.00
Less：Shares in stock 136,466,388.09 136,466,388.09
Other comprehensive income 2,350,689,536.40 2,690,397,606.30
Special reserve 17,695,084.87 17,841,325.92
Surplus reserves 625,178,089.82 625,178,089.82
Common risk provision
Retained profit 3,708,325,289.36 3,756,414,638.24
Total of owner’s equity belong to the parent company 7,952,554,107.78 8,328,481,114.19
Minority shareholders’ equity 627,096,033.67 570,711,632.78
Total of owners’ equity 8,579,650,141.45 8,899,192,746.97
Total of liabilities and owners’ equity 15,376,635,878.78 15,374,999,610.32
Legal Representative: Zheng Bin
Person in charge of accounting：Zhao Jiamao
Accounting Dept Leader: Jin Can
2.Consolidated Income Statement
In RMB
Items Current period Last period
I. Income from the key business 1,089,224,031.37 1,788,987,236.29
Incl：Business income 1,089,224,031.37 1,788,987,236.29
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Hangzhou Steam Turbine Power Group Co., Ltd. The First Quarterly Report 2023
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 1,110,720,953.58 1,544,630,767.37
Incl：Business cost 845,186,181.43 1,268,556,153.69
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net amount of withdrawal of insurance contract reserve
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 1,286,048.33 3,348,834.01
Sales expense 50,281,037.38 46,212,368.82
Administrative expense 125,978,935.77 135,702,564.20
R & D costs 81,804,145.74 85,497,139.56
Financial expenses 6,184,604.93 5,313,707.09
Including：Interest expense 4,084,645.61 7,205,885.86
Interest income 12,014,133.70 3,962,049.43
Add: Other income 12,442,934.82 3,751,924.89
Investment gain（“-”for loss） 3,949,106.72 12,491,713.99
Incl: 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 -67,610.56
Credit impairment loss -41,107,577.67 -75,474,967.16
Impairment loss of assets 606,342.10 16,210,996.87
Assets disposal income -3,244.58
III. Operational profit（“-”for loss） -45,606,116.24 201,265,282.37
Add ：Non-operational income 364,827.31 39,983,542.00
Less: Non-operating expense 2,625,284.41 2,486,602.85
IV. Total profit(“-”for loss) -47,866,573.34 238,762,221.52
Less：Income tax expenses -6,218,890.23 40,840,560.27
V. Net profit -41,647,683.11 197,921,661.25
(I) Classification by business continuity
1.Net continuing operating profit -41,647,683.11 197,921,661.25
2.Termination of operating net profit
(II) Classification by ownership
1.Net profit attributable to the owners of parent company -48,089,348.88 184,043,460.08
2.Minority shareholders’ equity 6,441,665.77 13,878,201.17
VI. Net after-tax of other comprehensive income -339,708,069.90 293,489,284.88
Net of profit of other comprehensive income attributable t -339,708,069.90 293,489,284.88
o owners of the parent company.
（I）Other comprehensive income items that will not be
reclassified into gains/losses in the subsequent accounting -339,708,069.90 293,489,284.88
period
1.Re-
measurement of defined benefit plans of changes in net d
ebt or net assets
2.Other comprehensive income under the equity method i
nvestee can not be reclassified into profit or loss.
3. Changes in the fair value of investments in other equity -339,708,069.90 293,489,284.88
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Hangzhou Steam Turbine Power Group Co., Ltd. The First Quarterly Report 2023
instruments
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.
1.Other comprehensive income under the equity method i
nvestee can be reclassified 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 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
7.Other
Net of profit of other comprehensive income attributable t
o Minority shareholders’ equity
VII. Total comprehensive income -381,355,753.01 491,410,946.13
Total comprehensive income attributable to the owner of
-387,797,418.78 477,532,744.96
the parent company
Total comprehensive income attributable minority
6,441,665.77 13,878,201.17
shareholders
VIII. Earnings per share
（I）Basic earnings per share -0.05 0.19
(II)Diluted earnings per share -0.05 0.19
Legal Representative: Zheng Bin
Person in charge of accounting：Zhao Jiamao
Accounting Dept Leader: Jin Can
3. Consolidated Cash flow statement
In RMB
Items Current period Last period
I. Cash flows from operating activities
Cash received from sales of goods or rending of services 1,002,887,020.77 1,058,270,245.53
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
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Hangzhou Steam Turbine Power Group Co., Ltd. The First Quarterly Report 2023
Tax returned 4,318,394.48 2,576,435.19
Other cash received from business operation 84,840,930.56 13,305,845.06
Sub-total of cash inflow 1,092,046,345.81 1,074,152,525.78
Cash paid for purchasing of merchandise and services 786,409,367.13 726,828,613.28
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 284,444,179.08 267,198,844.00
Taxes paid 76,659,449.80 88,450,273.16
Other cash paid for business activities 105,158,183.47 116,525,001.66
Sub-total of cash outflow from business activities 1,252,671,179.48 1,199,002,732.10
Net cash generated from /used in operating activities -160,624,833.67 -124,850,206.32
II. Cash flow generated by investing
Cash received from investment retrieving
Cash received as investment gains 3,949,106.72 12,403,494.81
Net cash retrieved from disposal of fixed assets,
116,085.07 6,500.00
intangible assets, and other long-term assets
Net cash received from disposal of subsidiaries or other
operational units
Other investment-related cash received 627,878,013.22 648,000,000.00
Sub-total of cash inflow due to investment activities 631,943,205.01 660,409,994.81
Cash paid for construction of fixed assets, intangible
15,775,768.82 31,736,192.54
assets and other long-term assets
Cash paid as investment 54,610,000.00 1,630.00
Net increase of loan against pledge
Net cash received from subsidiaries and other operational
units
Other cash paid for investment activities 338,000,000.00 502,000,000.00
Sub-total of cash outflow due to investment activities 408,385,768.82 533,737,822.54
Net cash flow generated by investment 223,557,436.19 126,672,172.27
III.Cash flow generated by financing
Cash received as investment
Including: Cash received as investment from minor
shareholders
Cash received as loans 35,000,000.00 23,800,000.00
Other financing –related cash received
Sub-total of cash inflow from financing activities 35,000,000.00 23,800,000.00
Cash to repay debts 15,066,786.71 23,800,000.00
Cash paid as dividend, profit, or interests 4,433,686.04 2,427,453.62
Including: Dividend and profit paid by subsidiaries to
minor shareholders
Other cash paid for financing activities 601,384.98 601,384.98
Sub-total of cash outflow due to financing activities 20,101,857.73 26,828,838.60
Net cash flow generated by financing 14,898,142.27 -3,028,838.60
IV. Influence of exchange rate alternation on cash and
-3,660,647.00 -581,538.97
cash equivalents
V.Net increase of cash and cash equivalents 74,170,097.79 -1,788,411.62
Add: balance of cash and cash equivalents at the
1,805,028,401.76 1,467,538,968.07
beginning of term
VI ..Balance of cash and cash equivalents at the end of
1,879,198,499.55 1,465,750,556.45
term
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Hangzhou Steam Turbine Power Group Co., Ltd. The First Quarterly Report 2023
Legal Representative: Zheng Bin
Person in charge of accounting：Zhao Jiamao
Accounting Dept Leader: Jin Can
(ii) Auditors 'Report
Is the First Quarterly Report be audited?
□ Yes √No
The First Quarterly report is not audited.
The Board of Directors of Hangzhou Steam Turbine Power Group Co., Ltd.
April 29, 2023
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