Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2010 (Full text)
Stock Code: 200771 Stock ID: Hangqilun B Announcement No. 2010-21
Hangzhou Steam Turbine Co., Ltd.
The 1st Quarterly Report 2010 (Full Text)
§1 Important Declaration
1.1 The Board of Directors 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.
1.2 The financial statements carried in this report are not audited.
1.3. Chairman Mr. Nie Zhonghai, General Manager Mr. Yan Jianhuan, Chief Financial Officer Mr. Bai Ronghua, and the Chief of Accounting Department Mr. Wu Guomei hereby declares: the Financial Statement in the report is guaranteed to be truthful and complete.
§2 Company Profile
2.1 Financial highlights
In RMB Yuan
Ended this report term
Ended previous year
Changed by (%)
Gross Assets (RMB)
5,213,495,583.77
4,910,772,244.30
6.16%
Owners’ equity attributable to the shareholders of the listed company (yuan)
2,431,492,991.04
2,336,109,466.46
4.08%
Capital shares (shares)
371,800,000.00
371,800,000.00
0.00%
Net asset per share attributable to the shareholders of the listed company (Yuan/share)
6.54
6.28
4.14%
This report term
Same period last year
Changed by (%)
Turnover (yuan)
709,878,971.12
716,800,324.88
-0.97%
Net profit attributable to shareholders of the listed company (yuan)
95,383,524.58
96,697,447.87
-1.36%
Net Cash flow generated by business operation (RMB)
187,637,137.31
-41,605,455.48
-550.99%
Net Cash flow per share generated by business operation (yuan/share)
0.50
-0.11
-554.55%
Basic earnings per share (Yuan/share)
0.26
0.26
0.00%
Diluted earnings per share (Yuan/share)
0.26
0.26
0.00%
Weighted average net income/asset ratio (%)
4.00%
4.96%
-0.96%
Weighted average net income/asset ratio less non-recurring gain/loss(%)
4.04%
4.98%
-0.94%
1Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2010 (Full text)
Non-recurring gain and loss items
Amount of the period from the beginning of year to the end ofreport term
Gain/loss of non-current assets
1,380.00
Government subsidies accounted into current gain/loss account, other than those closely related to the Company’s common business, comply with the national policy and continues to enjoy at certain fixed rate or amount.
193,600.00
Other non-business income and expenditures other than the above
-1,531,984.78
Influenced amount of minority shareholders’ equity
323,201.00
Influenced amount of income tax
101,698.47
Total
-912,105.31
Statement on non-recurring gain/loss accounts
None
2.2 Total of shareholders and top-10 holders of current shares
In shares
Total shareholders at the end of the report period (accounts)
15,792
Top Ten Shareholders of Negotiable Shares
Full name of shareholder
Negotiable shares held at the end of report term
Categories
SCHRODER INTL SELECTION FD-GREATER CN FD GTI 25287
6,287,474
Foreign shares placed in domestic exchange
NORGES BANK
2,669,261
Foreign shares placed in domestic exchange
TOYO SECURITIES ASIA LIMITED-A/C CLIENT.
1,370,925
Foreign shares placed in domestic exchange
BOCHK INVESTMENT FUNDS-BOCHK CHINA GOLDEN DRAGON FUND
1,276,797
Foreign shares placed in domestic exchange
Xia Zulin
1,184,194
Foreign shares placed in domestic exchange
AUSTRALIANSUPER PTY LTD
1,039,606
Foreign shares placed in domestic exchange
Hu Xiaofeng
948,646
Foreign shares placed in domestic exchange
Natio Securities Co.,Ltd.
895,130
Foreign shares placed in domestic exchange
INVESTERINGSFORENINGEN DANSKE INVEST
820,795
Foreign shares placed in domestic exchange
GUOTAI JUNAN SECURITIES(HONGKONG) LIMITED
590,437
Foreign shares placed in domestic exchange
§3 Significant Events
3.1 Details and causations of major change in major accounting subjects and financial indices
□applicable √ not applicable
3.2 Progress of significant events, their influence, countermeasures, and analysis 2Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2010 (Full text)
□applicable √ not applicable
3.3 Fulfilling of commitment issues made by the Company, shareholder, or substantial controller
□applicable √ not applicable
3.4 Estimated accumulative profit from the year beginning to the end of the next report period may be of deficits; or in comparison with the same period of the previous year, give the warning of great change and the notice to the reasons.
□applicable √ not applicable
3.5 Major events needs to be explained
3.5.1 Investment in securities
□applicable √ not applicable
3.5.2 Reception of investigations, communications, or interviews
Time/date
Place
Way
Visitors
Main content involved and material provided
Feb 04, 2010
HTC
Face to face talk
Dahe Securities
Capital expenditure, possibility of issuing H shares
Mar 15, 2010
HTC
Face to face talk
Zhongjin Co. Hong Kong
Hangzhou Bank Share, order trend, influence of financial crisis, productivity, competitors, share equity reformation
Mar 17, 2010
HTC
Telephone communication
Huale Investment
Production circle, order source, influence of material price, financing resource
3.5.3 Statement on other significant issues
□applicable √ not applicable
3.6 Investment in derivate financial instruments
□applicable √ not applicable
3.6.1 Derivate financial instrument stock at end of report term
□applicable √ not applicable
§4 Attachments
3Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2010 (Full text)
4.1 Balance Sheet
Prepared by: Hangzhou Steam Turbine Co., Ltd. March 31, 2010 in RMB Yuan
Balance at the end of term
Balance at the beginning of year
Items
Consolidated
Parent company
Consolidated
Parent company
Current asset:
Monetary capital
697,794,083.13
312,123,039.14
486,439,602.82
100,717,329.17
Settlement provision
Outgoing call loan
Transactional financial assets
Notes receivable
501,611,052.95
380,876,228.20
585,510,190.21
434,620,525.22
Account receivable
1,241,261,417.81
1,026,467,674.19
1,329,433,302.65
1,115,063,042.90
Prepayment
333,705,071.84
133,959,284.18
219,791,399.56
78,676,643.13
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Interest receivable
Dividend receivable
1,000,000.00
Other account receivable
25,516,857.93
23,476,569.16
17,333,756.04
16,869,617.12
Repurchasing of financial assets
Inventories
1,120,543,391.50
840,332,847.83
1,009,100,047.12
774,155,875.55
Non-current asset due in 1 year
Other current asset
43,313.06
108,275.80
Total of current asset
3,921,475,188.22
2,717,235,642.70
3,647,716,574.20
2,520,103,033.09
Non-current assets
Loans and payment on other’s behalf disbursed
Sellable financial asset
Expired investment in possess
Long-term receivable
Long-term share equity investment
402,586,451.62
472,280,099.47
402,586,451.62
472,280,099.47
Investment properties
Fixed assets
524,963,560.76
347,991,453.05
528,315,267.49
350,458,537.59
Construction in process
154,122,500.27
10,392,558.79
133,993,100.65
14,507,898.96
Engineering goods
221,108.29
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets
153,543,594.77
46,724,159.17
141,444,716.26
47,902,806.89
R&D expense
Goodwill
187,501.55
Long-term amortizable expenses
9,224,016.38
7,438,801.13
8,092,318.74
7,438,801.13
Differed income tax asset
47,171,661.91
39,114,576.96
48,623,815.34
39,114,576.96
Other non-current asset
Total of non-current assets
1,292,020,395.55
923,941,648.57
1,263,055,670.10
931,702,721.00
Total of assets
5,213,495,583.77
3,641,177,291.27
4,910,772,244.30
3,451,805,754.09
Current liabilities
Short-term loans
261,000,000.00
136,000,000.00 4Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2010 (Full text)
Loan from Central Bank
Deposit received and hold for others
Call loan received
Trade off financial liabilities
Notes payable
100,234,899.50
141,792,872.50
103,656,815.22
155,170,592.22
Account payable
443,879,012.33
334,464,537.97
320,766,161.48
202,453,257.90
Prepayment received
1,238,338,088.16
825,061,170.13
1,233,884,154.03
872,137,702.04
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable
19,953,107.85
12,385,206.54
23,241,197.54
14,713,270.72
Tax payable
63,617,243.64
40,135,484.25
89,484,573.70
62,319,098.96
Interest payable
195,250.00
Dividend payable
Other account payable
26,275,153.06
20,647,986.68
24,231,372.13
14,582,847.36
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Non-current liability due in 1 year
Other current liability
Total of current liability
2,153,297,504.54
1,374,487,258.07
1,931,459,524.10
1,321,376,769.20
Non-current liabilities
Long-term borrowings
247,463,800.00
190,463,800.00
247,463,800.00
190,463,800.00
Bond payable
Long-term payable
330,000.00
330,000.00
Special payable
Expected liabilities
Differed income tax liability
1,225,366.39
1,225,366.39
1,225,366.39
1,225,366.39
Other non-recurring liabilities
7,352,740.00
5,972,250.00
3,322,740.00
1,942,250.00
Total of non-current liabilities
256,371,906.39
197,661,416.39
252,341,906.39
193,631,416.39
Total of liability
2,409,669,410.93
1,572,148,674.46
2,183,801,430.49
1,515,008,185.59
Owners’ equity (or shareholders’ equity)
Capital paid in (or share capital)
371,800,000.00
371,800,000.00
371,800,000.00
371,800,000.00
Capital reserves
138,953,250.09
138,953,250.09
138,953,250.09
138,953,250.09
Less: Shares in stock
Special reserves
Surplus reserves
327,932,742.87
309,176,337.74
327,932,742.87
309,176,337.74
Common risk provision
Retained profit
1,592,806,998.08
1,249,099,028.98
1,497,423,473.50
1,116,867,980.67
Different of foreign currency translation
Total of owner’s equity belong to the parent company
2,431,492,991.04
2,069,028,616.81
2,336,109,466.46
1,936,797,568.50
Minor shareholders’ equity
372,333,181.80
390,861,347.35
Total of owners’ equity
2,803,826,172.84
2,069,028,616.81
2,726,970,813.81
1,936,797,568.50
Total of liabilities and owners’ equity
5,213,495,583.77
3,641,177,291.27
4,910,772,244.30
3,451,805,754.09
5Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2010 (Full text)
6Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2010 (Full text)
4.2 Income Statement
Prepared by: Hangzhou Steam Turbine Co., Ltd. Jan - Mar 2010 in RMB Yuan
Amount of the Current Term
Amount of the Previous Term
Items
Consolidated
Parent company
Consolidated
Parent company
I. Total revenue
709,878,971.12
548,240,687.52
716,800,324.88
492,913,863.62
Incl. Business income
709,878,971.12
548,240,687.52
716,800,324.88
492,913,863.62
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost
572,913,622.02
476,470,948.81
584,770,532.46
411,077,211.89
Incl. Business cost
438,375,203.33
385,058,189.93
474,040,731.30
332,334,060.43
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net insurance policy reserves provided
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge
1,918,650.87
861,172.58
1,705,196.17
460,274.06
Sales expense
31,037,615.06
20,744,345.18
24,538,057.17
17,702,128.19
Administrative expense
85,588,983.18
59,182,063.42
74,335,470.02
53,420,366.94
Financial expenses
4,520,863.98
2,494,960.97
-8,181,068.89
-8,716,604.49
Asset impairment loss
11,472,305.60
8,130,216.73
18,332,146.69
15,876,986.76
Plus: Gains from change of fair value (“-“ for loss)
Investment gain (“-“ for loss)
1,000,000.00
71,698,725.00
1,200,000.00
24,320,000.00
Incl. Investment gains from affiliates
Gains from currency exchange (“-“ for loss)
III. Operational profit (“-“ for loss)
137,965,349.10
143,468,463.71
133,229,792.42
106,156,651.73
Plus: Non business income
194,980.00
3,000.00
2,095,987.62
155,617.96
Less: Non-business expenses
1,531,984.78
558,240.69
1,520,355.44
1,092,913.86
Incl. Loss from disposal of non-current assets
IV. Gross profit (“-“ for loss)
136,628,344.32
142,913,223.02
133,805,424.60
105,219,355.83
Less: Income tax expenses
21,691,352.48
10,682,174.71
19,537,038.92
12,134,903.38
V. Net profit (“-“ for net loss)
114,936,991.84
132,231,048.31
114,268,385.68
93,084,452.45
Net profit attributable to the owners of parent company
95,383,524.58
132,231,048.31
96,697,447.87
93,084,452.45
Minor shareholders’ equity
19,553,467.26
17,570,937.81
VI. Earnings per share:
(I) Basic earnings per share
0.26
0.36
0.26
0.25
(II) Diluted earnings per share
0.26
0.36
0.26
0.25
VII. Other misc. incomes
VIII. Total of misc. incomes
114,936,991.84
132,231,048.31
114,268,385.68
93,084,452.45
Total of misc. incomes attributable to the owners of the parent company
95,383,524.58
132,231,048.31
96,697,447.87
93,084,452.45
Total misc gains attributable to the minor shareholders
19,553,467.26
17,570,937.81
7Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2010 (Full text)
4.3 Cash Flow Statement
Prepared by: Hangzhou Steam Turbine Co., Ltd. Jan - Mar 2010 in RMB Yuan
Amount of the Current Term
Amount of the Previous Term
Items
Consolidated
Parent company
Consolidated
Parent company
I. Net cash flow from business operation
Cash received from sales of products and providing of services
875,308,023.89
608,922,723.65
596,113,098.37
381,712,075.45
Net increase of customer deposits and capital kept for brother company
Net increase of loans from central bank
Net increase of inter-bank loans from other financial bodies
Cash received against original insurance contract
Net cash received from reinsurance business
Net increase of client deposit and investment
Net increase of trade financial asset disposal
Cash received as interest, processing fee, and commission
Net increase of inter-bank fund received
Net increase of repurchasing business
Tax returned
14,458,577.73
14,407,182.93
Other cash received from business operation
14,180,662.40
4,464,148.75
39,872,265.56
1,853,462.25
Sub-total of cash inflow from business activities
889,488,686.29
613,386,872.40
650,443,941.66
397,972,720.63
Cash paid for purchasing of merchandise and services
384,407,097.46
270,543,733.96
496,060,972.85
402,429,264.06
Net increase of client trade and advance
Net increase of savings in central bank and brother company
Cash paid for original contract claim
Cash paid for interest, processing fee and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs
116,056,227.39
93,676,294.38
106,449,877.42
84,972,704.35
Taxes paid
105,146,312.68
70,987,668.45
40,865,671.94
17,420,227.70
Other cash paid for business activities
96,241,911.45
13,720,995.38
48,672,874.93
9,128,533.74
Sub-total of cash outflow from business activities
701,851,548.98
448,928,692.17
692,049,397.14
513,950,729.85
Cash flow generated by business operation, net
187,637,137.31
164,458,180.23
-41,605,455.48
-115,978,009.22
II. Cash flow generated by investing
Cash received from investment retrieving
Cash received as investment gains
71,698,725.00
1,200,000.00
41,532,500.00
Net cash retrieved from disposal of fixed assets, intangible assets, and other long-term assets
Net cash received from disposal of subsidiaries or other operational units
Other investment-related cash received
90,868.96
Sub-total of cash inflow due to investment activities
90,868.96
71,698,725.00
1,200,000.00
41,532,500.00
Cash paid for construction of fixed assets, intangible assets and other long-term assets
67,019,024.68
22,509,090.75
13,627,787.76
4,678,937.74
Cash paid as investment
700,000.00
892,320.00
892,320.00
Net increase of loan against pledge
Net cash received from subsidiaries and other operational units
8Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2010 (Full text)
9
Other cash paid for investment activities
Sub-total of cash outflow due to investment activities
67,719,024.68
22,509,090.75
14,520,107.76
5,571,257.74
Net cash flow generated by investment
-67,628,155.72
49,189,634.25
-13,320,107.76
35,961,242.26
III. Cash flow generated by financing
Cash received as investment
Incl. Cash received as investment from minor shareholders
Cash received as loans
160,000,000.00
140,463,800.00
90,463,800.00
Cash received from bond placing
Other financing-related cash received
Subtotal of cash inflow from financing activities
160,000,000.00
140,463,800.00
90,463,800.00
Cash to repay debts
35,000,000.00
50,000,000.00
Cash paid as dividend, profit, or interests
33,498,933.02
2,086,548.68
28,887,833.00
1,267,500.00
Incl. Dividend and profit paid by subsidiaries to minor shareholders
Other cash paid for financing activities
Subtotal of cash outflow due to financing activities
68,498,933.02
2,086,548.68
78,887,833.00
1,267,500.00
Net cash flow generated by financing
91,501,066.98
-2,086,548.68
61,575,967.00
89,196,300.00
IV. Influence of exchange rate alternation on cash and cash equivalents
-155,568.26
-155,555.83
10,097,465.13
10,097,452.71
V. Net increase of cash and cash equivalents
211,354,480.31
211,405,709.97
16,747,868.89
19,276,985.75
Plus: Balance of cash and cash equivalents at the beginning of term
486,439,602.82
100,717,329.17
450,103,030.94
158,711,304.02
VI. Balance of cash and cash equivalents at the end of term
697,794,083.13
312,123,039.14
466,850,899.83
177,988,289.77
4.4 Auditors’ Report
Auditor’s opinion: not audited.
Hangzhou Steam Turbine Co., Ltd.
Legal representative: Mr. Nie Zhonghai
April 28, 2010
