Hangzhou Turbine Power Group Co., Ltd. The First Quarter Report 2024
Stock Code：200771 Stock ID: Hangqilun B Announcement No.:2024-36
Hangzhou Turbine Power Group Co., Ltd.
The First Quarter Report 2024
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
period over same
This period Same period of last year
period of last year
（％）
Operating revenue（Yuan） 1,059,263,685.89 1,089,224,031.37 -2.75%
Net profit attributable to the shareholders of the
9,663,903.49 -48,089,348.88 120.10%
listed company（Yuan）
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of listed -6,160,934.41 -59,744,696.75 89.69%
company（Yuan）
Net cash generated from /used in operating
-364,441,664.54 -160,624,833.67 -126.89%
activities（Yuan）
Basic earning per share(Yuan/Share) 0.01 -0.04 125.00%
Diluted gains per share(Yuan/Share) 0.01 -0.04 125.00%
Weighted average return on equity（%） 0.12% -0.59% 0.71%
Changes of this
period-end over same
End of this period End of last period
period-end of last
year(%)
Total assets（Yuan） 16,372,757,177.59 15,927,680,116.23 2.79%
Net assets attributable to the shareholders of the
8,170,169,503.89 7,899,275,900.66 3.43%
listed company（Yuan）
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Hangzhou Turbine Power Group Co., Ltd. The First Quarter Report 2024
(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 part for which assets impairment provision is 12,208.62
made)
It is mainly due to the government
subsidies recognized by the
Government subsidy recognized in current gain and
compensation for the relocation of
loss(excluding those closely related to the Company’s 15,658,781.75
business and granted under the state’s policies) Shiqiao Road factory in the joint-
stock company and other
government subsidies
Gain and loss from change of the fair value arising
from transactional monetary assets, transactional
financial liabilities as held as well as the investment
It is mainly due to the investment
income arising from disposal of the transactional
3,097,437.07 income of bank wealth
monetary assets, transactional financial liabilities and
management products
financial assets available for sale excluding the
effective hedging transaction in connection with the
Company’s normal business
Operating income and expenses other than the
1,130,690.82
aforesaid items
Less: Influenced amount of income tax 2,634,754.54
Amount of influence of minority interests（After
1,439,525.82
tax）
Total 15,824,837.90 --
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 31,2024 January 1,2024 increase or Reason
decrease
It is mainly due to the decrease in the
Trading financial assets 267,046,894.31 568,887,484.10 -53.06% purchase of wealth management products
in this period.
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Hangzhou Turbine Power Group Co., Ltd. The First Quarter Report 2024
It is mainly due to the increase in
Accounts paid in advance 1,026,040,326.37 725,264,109.04 41.47% prepayment for the purchase of gas turbine
main engine and accessories in this period.
It is mainly due to the increase of customs
Other receivable 56,769,587.01 43,018,211.13 31.97% deposit for entry maintenance in this
period.
It is mainly due to the increase in the input
Other current accounts 22,931,460.21 5,622,606.07 307.85%
tax to be deducted.
It is mainly due to the increase in
investment in equipment and construction
and installation project of 10 sets of gas
Construction in progress 420,016,702.17 298,071,246.03 40.91%
turbine units per year of the joint-stock
company and Anhui Fanchang project of
the Casting Company.
It is mainly due to the year-end bonus
Wage payable 96,044,113.09 139,367,042.75 -31.09% accrued at the end of last year and issued
in this period.
It is mainly due to the payment of various
Taxes payable 42,167,074.39 91,797,224.07 -54.06% taxes and fees accrued at the end of last
year.
It is mainly due to the increase of the tax
Other current liabilities 382,714,770.92 310,507,152.94 23.25% on the items to be written off in the
contract prepayment in this period.
It is mainly due to the increase in long-
Long-term loans 317,599,111.12 222,819,841.07 42.54%
term bank loans in this period.
It is mainly due to the increase in deferred
Deferred income tax income tax liabilities caused by the
114,225,607.32 73,994,186.59 54.37%
liabilities increase in the price of shares held by
Hangzhou Bank in this period.
It is mainly due to the accrual of rental of
Lease liability 10,059,027.69 15,945,346.47 -36.92%
leased assets in this period.
Year-on-year
Current period Last period increase or Reason
Income statement items decrease
It is mainly due to the year-on-year
Business tax and surcharge 5,299,355.30 1,286,048.33 312.08% increase in value-added tax payable in this
period.
It is mainly due to the increase of sales
activities, the refinement of employee
Sales expense 61,957,512.86 50,281,037.38 23.22% compensation accounting and the
adjustment of presentation basis for social
security fees in this period.
According to the R&D progress, the R&D
R & D expense 35,079,933.63 81,804,145.74 -57.12% units have reached the saleable state and
been transferred out more.
It is mainly due to the year-on-year
Financial expenses -130,577.09 6,184,604.93 -102.11% decrease in the net exchange loss in this
period.
It is mainly due to the increase in
depreciation recognition income and other
Other income 24,769,399.44 12,442,934.82 99.06%
government subsidies of assets
requisitioned and relocated in this period.
It is mainly due to the structural changes
of sales units in this period, increase in the
Operational profit（“-”for
20,438,710.92 -45,606,116.24 144.82% sales of drive units with higher gross profit
loss） margin and the year-on-year decrease of
R&D expenses in this period.
It is mainly due to the increase in the
Non-operational income 1,587,618.54 364,827.31 335.20% income from purchase quality
compensation in this period.
It is mainly due to the decrease in quality
Non -operational expenses 705,351.97 2,625,284.41 -73.13% compensation expenditure for product sold
in this period.
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Hangzhou Turbine Power Group Co., Ltd. The First Quarter Report 2024
The reason for the change is the same as
Total profit(“-”for loss) 21,320,977.49 -47,866,573.34 144.54%
that of operating profit.
It is mainly due to the current income tax
Income tax expenses 22,848,009.74 -6,218,890.23 467.40% increase recognized by the increase in
operating profit in this period.
The reason for the change is the same as
Net profit -1,527,032.25 -41,647,683.11 96.33%
that of operating profit.
.Net profit attributable to
The reason for the change is the same as
shareholders of parent 9,663,903.49 -48,089,348.88 120.10%
that of operating profit.
company
Minority shareholders’ It is mainly due to the decrease in part of
-11,190,935.74 6,441,665.77 -273.73%
gains and losses the income held by minority shareholders.
Year-on-year
Cash Flow Statement Current period Last period increase or Reason
Items decrease
Cash flow generated by It is mainly due to the increase in cash
-364,441,664.54 -160,624,833.67 -126.89%
paid for the purchase of gas turbines.
business operation, net
It is mainly due to the increase in cash
Net cash flow generated by paid for the purchase and construction of
investment fixed capital in project with an annual
165,919,040.18 223,557,436.19 -25.78%
output of 10 sets of gas turbine units and
Anhui Fanchang project of the Casting
Company.
Net cash flow generated by Mainly due to the increase in the net
78,091,074.29 14,898,142.27 424.17%
Financing amount of bank loans raised this period.
II. Shareholders Information
(1) 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
shareholders at the period- 10987
recovered at the end of the reporting period(if any)
end
Shares held by the top 10 shareholders
Pledging or freezing
Amount of tradable
Properties of Share
Shareholder name Quantity shares with Conditional Status of
shareholder proportion % Quantity
the shares
held
Hangzhou Turbine Holdings State-owned Not
58.70% 689,715,889 689,715,889 0
Co., Ltd. legal person applicable
Hangzhou Qitong Equity 0
State-owned Not
Investment Partnership 5.00% 58,810,799 58,810,799
legal person applicable
（LP）
China Merchants Foreign legal Not 0
0.75% 8,768,869 0
Secutities(HK)Co., Ltd. person applicable
GUOTAI JUNAN 0
SECURITIES Foreign legal Not
0.68% 8,008,992 0
（HONGKONG） person applicable
LIMITED
Foreign legal Not 0
Zhou Jie 0.68% 7,974,900 0
person applicable
ISHARES CORE MSCI 0
Foreign legal Not
EMERGINGMARKETS 0.57% 6,736,634 0
person applicable
ETF
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Hangzhou Turbine Power Group Co., Ltd. The First Quarter Report 2024
VANGUARD TOTAL 0
Foreign legal Not
INTERNATIONALSTOCK 0.53% 6,209,011 0
person applicable
INDEX FUND
VANGUARD EMERGING 0
Foreign legal Not
MARKETSSTOCK INDEX 0.52% 6,144,344 0
person applicable
FUND
Foreign legal Not 0
NORGES BANK 0.33% 3,922,665 0
person applicable
Domestic Not 0
Xia Zulin 0.32% 3,810,000 0
Natural person applicable
Particular about top ten shareholders with un-restrict shares held
Amount of Type of shares
un-restrict
Shareholders’ name
shares held at Type Amount
Period-end
Foreign shares placed in
China Merchants Securities(HK)Co., Ltd. 8,768,869 8,768,869
domestic exchange
Foreign shares placed in
GUOTAI JUNAN SECURITIES（HONGKONG） LIMITED 8,008,992 8,008,992
domestic exchange
Foreign shares placed in
Zhou Jie 7,974,900 7,974,900
domestic exchange
Foreign shares placed in
ISHARES CORE MSCI EMERGINGMARKETS ETF 6,736,634 6,736,634
domestic exchange
Foreign shares placed in
VANGUARD TOTAL INTERNATIONALSTOCK INDEX FUND 6,209,011 6,209,011
domestic exchange
Foreign shares placed in
VANGUARD EMERGING MARKETSSTOCK INDEX FUND 6,144,344 6,144,344
domestic exchange
Foreign shares placed in
NORGES BANK 3,922,665 3,922,665
domestic exchange
Foreign shares placed in
Xia Zulin 3,810,000 3,810,000
domestic exchange
VFTC INSTITUTIONAL TOTALINTERNATIONAL STOCK Foreign shares placed in
2,725,464 2,725,464
MARKET INDEX TRUST II domestic exchange
Foreign shares placed in
Wang Yihu 2,568,923 2,568,923
domestic exchange
(1) Hangzhou Turbine Holdings Co., Ltd. is the holder of state-shares of the Company,
all other shareholders’ are holders of domestic listed foreign shares (B shares)
(2) There is no relationship between Hangzhou Turbine Holdings Co., Ltd..;
Explanation on associated relationship among the (3) Hangzhou Turbine Holdings Co., Ltd. and Hangzhou Qitong Equity Investment
aforesaid shareholders Partnership（LP）are not an “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”.
Notes to the shareholders involved in financing
Not applicable
securities (if any)(See Notes 4)
Information of shareholders holding more than 5% of the shares, the top 10 shareholders and the top 10
shareholders of unrestricted tradable shares participating in the lending of shares in securities lending and
borrowing business
□Applicable Not applicable
The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed compared
with the previous period due to the securities lending/returning,
□Applicable Not applicable
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Hangzhou Turbine Power Group Co., Ltd. The First Quarter Report 2024
(2) Total shareholders with preferred stock held and shares held by top ten shareholders with preferred
stock held
□Applicable Not applicable
III. Important matters
□Applicable Not applicable
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Hangzhou Turbine Power Group Co., Ltd. The First Quarter Report 2024
IV. Quarterly financial statements
（i）Financial statement
1. Consolidated balance sheet
Prepared by:：Hangzhou Turbine Power Group Co., Ltd.
March 31,2024
In RMB
Items Ending balance Opening balance
Current asset：
Monetary fund 2,667,978,257.57 2,798,168,129.50
Settlement provision
Outgoing call loan
Transactional financial assets 267,046,894.31 568,887,484.10
Derivative financial assets
Notes receivable 83,808,857.73 84,988,677.11
Account receivable 2,223,652,661.55 2,242,141,940.94
Financing receivable 781,169,450.68 756,873,166.56
Prepayments 1,026,040,326.37 725,264,109.04
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Other account receivable 56,769,587.01 43,018,211.13
Including：Interest receivable
Dividend receivable
Repurchasing of financial assets
Inventories 2,603,107,118.59 2,429,496,037.81
Including： Data resources
Contract assets 636,311,897.08 640,386,559.53
Assets held for sales
Non-current asset due within 1 year
Other current asset 22,931,460.21 5,622,606.07
Total of current assets 10,368,816,511.10 10,294,846,921.79
Non-current assets：
Loans and payment on other’s behalf disbursed
Creditor's Investment
Other Creditor's Investment
Long-term receivable 14,779,983.03 14,779,983.03
Long term share equity investment
Other equity instruments investment 3,020,533,538.66 2,721,470,812.06
Other non-current financial assets 5,534,773.22 5,534,773.22
Property investment 1,517,467.88 1,544,449.40
Fixed assets 1,958,233,086.82 1,995,150,533.24
Construction in progress 420,016,702.17 298,071,246.03
Production physical assets
Oil & gas assets
Use right assets 29,774,982.52 34,274,571.45
Intangible assets 405,722,628.06 409,302,531.32
Including： Data resources
Development expenses
Including： Data resources
Goodwill 15,415,678.59 15,415,678.59
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Hangzhou Turbine Power Group Co., Ltd. The First Quarter Report 2024
Long-germ expenses to be amortized
Deferred income tax asset 70,285,896.00 73,600,434.50
Other non-current asset 62,125,929.54 63,688,181.60
Total of non-current assets 6,003,940,666.49 5,632,833,194.44
Total of assets 16,372,757,177.59 15,927,680,116.23
Current liabilities
Short-term loans 408,930,519.44 504,428,866.04
Loan from Central Bank
Borrowing funds
Transactional financial liabilities
Derivative financial liabilities
Notes payable 432,872,207.01 481,424,952.96
Account payable 1,457,694,558.59 1,409,130,502.72
Advance receipts 261,912.17 29,998.47
Contract liabilities 2,958,215,278.45 2,753,211,717.09
Selling of repurchased financial assets
Deposit taking and interbank deposit
Entrusted trading of securities
Entrusted selling of securities
Employees’ wage payable 96,044,113.09 139,367,042.75
Tax payable 42,167,074.39 91,797,224.07
Other account payable 153,225,832.50 151,669,883.07
Including：Interest payable
Dividend payable
Fees and commissions payable
Reinsurance fee payable
Liabilities held for sales
Non-current liability due within 1 year 76,626,438.81 80,815,769.12
Other current liability 382,714,770.92 310,595,405.34
Total of current liability 6,008,752,705.37 5,922,471,361.63
Non-current liabilities：
Reserve fund for insurance contracts
Long-term loan 317,599,111.12 222,819,841.07
Bond payable
Including：preferred stock
Sustainable debt
Lease liability 10,059,027.69 15,945,346.47
Long-term payable 12,699,414.68 12,195,896.78
Long-term remuneration payable to staff
Expected liabilities 11,700,142.19 11,768,979.69
Deferred income 1,054,690,022.56 1,069,670,711.41
Deferred income tax liability 114,225,607.32 73,994,186.59
Other non-current liabilities 58,696,860.00 58,696,860.00
Total non-current liabilities 1,579,670,185.56 1,465,091,822.01
Total of liability 7,588,422,890.93 7,387,563,183.64
Owners’ equity
Share capital 1,175,009,597.00 1,175,444,400.00
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 403,949,725.41 399,213,704.44
Less：Shares in stock 84,236,376.35 86,290,288.75
Other comprehensive income 2,235,142,573.85 1,980,939,256.24
Special reserve 21,026,629.07 20,355,377.31
Surplus reserves 625,178,089.82 625,178,089.82
Common risk provision
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Hangzhou Turbine Power Group Co., Ltd. The First Quarter Report 2024
Retained profit 3,794,099,265.09 3,784,435,361.60
Total of owner’s equity belong to the parent company 8,170,169,503.89 7,899,275,900.66
Minority shareholders’ equity 614,164,782.77 640,841,031.93
Total of owners’ equity 8,784,334,286.66 8,540,116,932.59
Total of liabilities and owners’ equity 16,372,757,177.59 15,927,680,116.23
Legal Representative: Zheng Bin Person in charge of Accounting Works: Zhao Jiamao
Person in charge of Accounting Institution: Lv Lin
2.Consolidated Income Statement
In RMB
Items Current period Last period
I. Income from the key business 1,059,263,685.89 1,089,224,031.37
Incl：Business income 1,059,263,685.89 1,089,224,031.37
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 1,015,203,789.86 1,110,720,953.58
Incl：Business cost 771,408,226.93 845,186,181.43
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 5,299,355.30 1,286,048.33
Sales expense 61,957,512.86 50,281,037.38
Administrative expense 141,589,338.23 125,978,935.77
R & D costs 35,079,933.63 81,804,145.74
Financial expenses -130,577.09 6,184,604.93
Including：Interest expense 4,634,327.93 4,084,645.61
Interest income 9,192,752.40 12,014,133.70
Add: Other income 24,769,399.44 12,442,934.82
Investment gain（“-”for loss） 3,548,604.70 3,949,106.72
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 -451,167.63
Credit impairment loss -55,286,278.37 -41,107,577.67
Impairment loss of assets 3,654,253.83 606,342.10
Assets disposal income 144,002.92
III. Operational profit（“-”for loss） 20,438,710.92 -45,606,116.24
Add ：Non-operational income 1,587,618.54 364,827.31
Less: Non-operating expense 705,351.97 2,625,284.41
IV. Total profit(“-”for loss) 21,320,977.49 -47,866,573.34
Less：Income tax expenses 22,848,009.74 -6,218,890.23
V. Net profit -1,527,032.25 -41,647,683.11
(I) Classification by business continuity
1.Net continuing operating profit -1,527,032.25 -41,647,683.11
2.Termination of operating net profit
(II) Classification by ownership
1.Net profit attributable to the owners of parent company 9,663,903.49 -48,089,348.88
2.Minority shareholders’ equity -11,190,935.74 6,441,665.77
VI. Net after-tax of other comprehensive income 254,203,317.61 -339,708,069.90
Net of profit of other comprehensive income attributable to owners of th 254,203,317.61 -339,708,069.90
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Hangzhou Turbine Power Group Co., Ltd. The First Quarter Report 2024
e parent company.
（I）Other comprehensive income items that will not be reclassified
254,203,317.61 -339,708,069.90
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.
3. Changes in the fair value of investments in other equity instruments 254,203,317.61 -339,708,069.90
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 investee 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 to Minority
shareholders’ equity
VII. Total comprehensive income 252,676,285.36 -381,355,753.01
Total comprehensive income attributable to the owner of the parent
263,867,221.10 -387,797,418.78
company
Total comprehensive income attributable minority shareholders -11,190,935.74 6,441,665.77
VIII. Earnings per share
（I）Basic earnings per share 0.01 -0.04
(II)Diluted earnings per share 0.01 -0.04
Legal Representative: Zheng Bin Person in charge of Accounting Works: Zhao Jiamao
Person in charge of Accounting Institution: Lv Lin
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 1,101,612,176.48 1,002,887,020.77
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 8,337,853.77 4,318,394.48
Other cash received from business operation 27,950,761.50 84,840,930.56
Sub-total of cash inflow 1,137,900,791.75 1,092,046,345.81
Cash paid for purchasing of merchandise and services 999,622,825.23 786,409,367.13
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
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Hangzhou Turbine Power Group Co., Ltd. The First Quarter Report 2024
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 301,644,474.11 284,444,179.08
Taxes paid 120,388,418.85 76,659,449.80
Other cash paid for business activities 80,686,738.10 105,158,183.47
Sub-total of cash outflow from business activities 1,502,342,456.29 1,252,671,179.48
Net cash generated from /used in operating activities -364,441,664.54 -160,624,833.67
II. Cash flow generated by investing
Cash received from investment retrieving
Cash received as investment gains 3,534,096.30 3,949,106.72
Net cash retrieved from disposal of fixed assets, intangible assets, and
17,010.00 116,085.07
other long-term assets
Net cash received from disposal of subsidiaries or other operational units
Other investment-related cash received 416,200,000.00 627,878,013.22
Sub-total of cash inflow due to investment activities 419,751,106.30 631,943,205.01
Cash paid for construction of fixed assets, intangible assets and other
126,637,908.80 15,775,768.82
long-term assets
Cash paid as investment 12,163,500.00 54,610,000.00
Net increase of loan against pledge
Net cash received from subsidiaries and other operational units
Other cash paid for investment activities 115,030,657.32 338,000,000.00
Sub-total of cash outflow due to investment activities 253,832,066.12 408,385,768.82
Net cash flow generated by investment 165,919,040.18 223,557,436.19
III.Cash flow generated by financing
Cash received as investment
Including: Cash received as investment from minor shareholders
Cash received as loans 121,000,000.00 35,000,000.00
Other financing –related cash received
Sub-total of cash inflow from financing activities 121,000,000.00 35,000,000.00
Cash to repay debts 29,072,928.57 15,066,786.71
Cash paid as dividend, profit, or interests 10,202,021.48 4,433,686.04
Including: Dividend and profit paid by subsidiaries to minor
shareholders
Other cash paid for financing activities 3,633,975.66 601,384.98
Sub-total of cash outflow due to financing activities 42,908,925.71 20,101,857.73
Net cash flow generated by financing 78,091,074.29 14,898,142.27
IV. Influence of exchange rate alternation on cash and cash equivalents -165,987.68 -3,660,647.00
V.Net increase of cash and cash equivalents -120,597,537.75 74,170,097.79
Add: balance of cash and cash equivalents at the beginning of term 2,661,616,581.02 1,805,028,401.76
VI ..Balance of cash and cash equivalents at the end of term 2,541,019,043.27 1,879,198,499.55
Legal Representative: Zheng Bin Person in charge of Accounting Works: Zhao Jiamao
Person in charge of Accounting Institution: Lv Lin
（ii）The Company started implementing the updated accounting standards commencing from 2024 and
adjusted the relevant items in the financial statements at the beginning of the very year involved in the
initial implementation of the said standards
□Applicable Not applicable
(iii) Auditors 'Report
Is the First Quarterly Report be audited?
□ Yes √No
The First Quarterly report is not audited.
The Board of Directors of Hangzhou Turbine Power Group Co., Ltd.
April 30, 2024
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