Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2011 (Full Text)
Stock Code: 200771 Stock ID: Hangqilun B Announcement No. 2011-16
Hangzhou Steam Turbine Co., Ltd.
The 1st Quarterly Report 2011 (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 Changed by
Ended previous year
term (%)
Gross Assets (RMB) 6,526,046,392.22 6,092,332,507.21 7.12%
Owners’ equity attributable to the shareholders of the listed company
2,981,336,493.09 2,868,211,238.68 3.94%
(yuan)
Capital shares (shares) 483,340,000.00 483,340,000.00 0.00%
Net asset per share attributable to the shareholders of the listed company
6.17 5.93 4.05%
(Yuan/share)
Same period last Changed by
This report term
year (%)
Turnover (yuan) 817,202,291.68 709,878,971.12 15.12%
Net profit attributable to shareholders of the listed company (yuan) 113,125,254.41 95,383,524.58 18.60%
Net Cash flow generated by business operation (RMB) 201,026,464.70 187,637,137.31 7.14%
Net Cash flow per share generated by business operation (yuan/share) 0.42 0.50 -16.00%
Basic earnings per share (Yuan/share) 0.23 0.20 15.00%
Diluted earnings per share (Yuan/share) 0.23 0.20 15.00%
Weighted average net
3.87% 4.00% -0.13%
income/asset ratio (%)
Weighted average net
3.89% 4.04% -0.15%
income/asset ratio less non-recurring gain/loss(%)
Non-recurring gain and loss items
√ applicable □ not applicable
In RMB Yuan
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Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2011 (Full Text)
Non-recurring gain and loss items Amount Note (if applicable)
Gain/loss of non-current assets -90,988.17
Other non-business income and expenditures other than the above -1,233,150.81
Influenced amount of minority shareholders’ equity 328,478.01
Influenced amount of income tax 218,417.62
Total -777,243.35 -
2.2 Total of shareholders and top-10 holders of current shares
in shares
Total shareholders at the end of the report period (accounts) 15,402
Top Ten Shareholders of Negotiable Shares
Negotiable shares held at the end
Full name of shareholder Categories
of report term
SCHRODER INTL SELECTION FD-GREATER CN FD GTI Foreign shares placed in
6,625,416
25287 domestic exchange
DREYFUS PREMIER INVESTMENT FDS INC.-DREYFUS Foreign shares placed in
5,295,488
GREATER CHINA FD domestic exchange
Foreign shares placed in
NORGES BANK 3,494,939
domestic exchange
BIAL/HSBC GLOBAL INVESTMENT FUNDS CHINESE Foreign shares placed in
3,081,600
EQUITY domestic exchange
Foreign shares placed in
GAOLING FUND,L.P. 2,553,141
domestic exchange
Foreign shares placed in
HTHK/BTDL-ASIAN MARKET LEADERS FUND 2,460,351
domestic exchange
BOCHK INVESTMENT FUNDS-BOCHK CHINA GOLDEN Foreign shares placed in
1,659,836
DRAGON FUND domestic exchange
Foreign shares placed in
TOYO SECURITIES ASIA LIMITED-A/C CLIENT. 1,495,013
domestic exchange
Foreign shares placed in
ASIA PACIFIC PERFORMANCE 1,382,941
domestic exchange
Foreign shares placed in
AUSTRALIANSUPER PTY LTD 1,351,488
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
3.2.1 None-standard opinions
□applicable √ not applicable
3.2.2 Illegal providing of capital or guarantees to the holding shareholder or its related parties or external
parties
□applicable √ not applicable
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Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2011 (Full Text)
3.2.3 Signing and execution of major business contracts
□applicable √ not applicable
3.2.4 Misc.
□applicable √ not applicable
3.3 Fulfilling of commitment issues made by the Company, shareholder, or substantial controller
Commitment made by the PLC, its directors, supervisors, executives, and shareholders with 5% or over shares of the Company, and
its substantial dominator in the report term or carried over to the report term:
□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
March 16, The KGI Securities Reason of growth decreasing, possibility of issuing H shares, overseas
Field research
2011 Company Taiwan marketing pattern, way out of B shares, Bank of Hangzhou
Situation of sales, impact of suspending of approving nuclear power
March 16, The Shenzhen Redchip
Field research plants, business operation of 2011, products other than steam turbine,
2011 Company Investment
residue thermal power plant
March 17, The Telephone Individual Impact of suspending of approving nuclear power plants, business
2011 Company communication shareholder operation of 2011
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
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Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2011 (Full Text)
4.1 Balance Sheet
Prepared by: Hangzhou Steam Turbine Co., Ltd. March 31, 2011 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 846,232,679.45 437,727,431.98 657,077,394.71 332,065,321.54
Settlement provision
Outgoing call loan
Transactional financial assets
Notes receivable 538,662,774.54 321,096,463.77 713,585,305.36 408,512,097.53
Account receivable 1,689,646,779.93 1,292,138,640.57 1,652,523,887.28 1,307,706,761.68
Prepayment 270,047,596.82 74,126,645.37 184,464,135.00 56,088,295.98
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Interest receivable
Dividend receivable 1,000,000.00 6,772,893.75
Other account receivable 35,192,992.79 36,614,432.35 34,149,117.95 28,169,088.97
Repurchasing of financial assets
Inventories 1,472,079,973.53 1,171,121,583.24 1,168,959,067.36 874,068,780.24
Non-current asset due in 1 year
Other current asset 215,146.33 88,598.00
Total of current asset 4,853,077,943.39 3,339,598,091.03 4,410,847,505.66 3,006,610,345.94
Non-current assets
Disburse of consigned loans
Available-for-sale financial asset
Expired investment in possess
Long-term receivable
Long-term share equity investment 407,088,813.22 476,782,461.07 402,586,451.62 472,280,099.47
Investment properties
Fixed assets 810,001,813.87 307,478,541.89 828,320,012.24 319,991,452.64
Construction in process 101,446,228.01 90,820,208.35 98,530,579.18 88,939,313.18
Engineering goods 1,234,990.52
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 281,957,384.42 46,724,159.17 284,700,647.27 46,724,159.17
R&D expense
Goodwill
Long-term amortizable expenses 8,620,544.53 5,410,037.18 5,941,526.80 5,410,037.18
Differed income tax asset 62,618,674.26 44,447,914.88 61,405,784.44 44,447,914.88
Other non-current asset
Total of non-current assets 1,672,968,448.83 971,663,322.54 1,681,485,001.55 977,792,976.52
Total of assets 6,526,046,392.22 4,311,261,413.57 6,092,332,507.21 3,984,403,322.46
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Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2011 (Full Text)
Current liabilities
Short-term loans 326,000,000.00 226,000,000.00
Loan from Central Bank
Deposit received and hold for others
Call loan received
Trade off financial liabilities
Notes payable 127,218,623.00 95,643,623.00
Account payable 723,717,228.71 454,539,535.91 522,983,194.67 261,017,904.69
Prepayment received 1,562,192,146.14 1,062,293,790.97 1,493,982,772.62 1,063,643,628.13
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable 22,240,946.90 13,351,370.21 29,174,456.31 14,868,240.62
Tax payable 89,754,627.85 52,835,479.86 105,407,867.17 60,985,858.19
Interest payable 287,993.75
Dividend payable 8,339,024.89
Other account payable 67,825,052.82 30,647,292.53 80,286,888.60 28,469,915.93
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Non-current liability due in 1 year 57,000,000.00 157,000,000.00 100,000,000.00
Other current liability
Total of current liability 2,984,287,650.31 1,613,667,469.48 2,710,766,796.12 1,528,985,547.56
Non-current liabilities
Long-term borrowings 148,000,000.00 100,000,000.00 73,463,800.00 50,463,800.00
Bond payable
Long-term payable 330,000.00 330,000.00
Special payable 708,700.00
Expectable liabilities
Differed income tax liability 1,222,974.80 1,222,974.80 1,222,974.80 1,222,974.80
Other non-recurring liabilities 18,748,640.00 5,086,950.00 5,047,140.00 1,359,250.00
Total of non-current liabilities 169,010,314.80 106,309,924.80 80,063,914.80 53,046,024.80
Total of liability 3,153,297,965.11 1,719,977,394.28 2,790,830,710.92 1,582,031,572.36
Owners’ equity (or shareholders’ equity)
Capital paid in (or share capital) 483,340,000.00 483,340,000.00 483,340,000.00 483,340,000.00
Capital reserves 139,590,345.09 138,953,250.09 139,590,345.09 138,953,250.09
Less: Shares in stock
Special reserves
Surplus reserves 389,362,161.03 370,605,755.90 389,362,161.03 370,605,755.90
Common risk provision
Retained profit 1,969,043,986.97 1,598,385,013.30 1,855,918,732.56 1,409,472,744.11
Different of foreign currency translation
Total of owner’s equity belong to the parent company 2,981,336,493.09 2,591,284,019.29 2,868,211,238.68 2,402,371,750.10
Minor shareholders’ equity 391,411,934.02 433,290,557.61
Total of owners’ equity 3,372,748,427.11 2,591,284,019.29 3,301,501,796.29 2,402,371,750.10
Total of liabilities and owners’ equity 6,526,046,392.22 4,311,261,413.57 6,092,332,507.21 3,984,403,322.46
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Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2011 (Full Text)
4.2 Income Statement
Prepared by: Hangzhou Steam Turbine Co., Ltd. Jan - Mar 2011 in RMB Yuan
Amount of the Current Term Amount of the Previous Term
Items Parent Parent
Consolidated Consolidated
company company
I. Total revenue 817,202,291.68 470,152,181.58 709,878,971.12 548,240,687.52
Incl. Business income 817,202,291.68 470,152,181.58 709,878,971.12 548,240,687.52
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 642,124,463.09 387,563,288.73 572,913,622.02 476,470,948.81
Incl. Business cost 486,993,931.11 289,704,144.71 438,375,203.33 385,058,189.93
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 5,597,503.85 2,588,136.12 1,918,650.87 861,172.58
Sales expense 32,844,801.93 18,339,572.29 31,037,615.06 20,744,345.18
Administrative expense 99,409,094.55 64,815,446.73 85,588,983.18 59,182,063.42
Financial expenses 5,442,969.87 1,000,523.13 4,520,863.98 2,494,960.97
Asset impairment loss 11,836,161.78 11,115,465.75 11,472,305.60 8,130,216.73
Plus: Gains from change of fair value (“-“ for loss)
Investment gain (“-“ for loss) 1,000,000.00 119,112,923.75 1,000,000.00 71,698,725.00
Incl. Investment gains from affiliates
Gains from currency exchange (“-“ for loss)
III. Operational profit (“-“ for loss) 176,077,828.59 201,701,816.60 137,965,349.10 143,468,463.71
Plus: Non business income 68,740.24 48,740.24 194,980.00 3,000.00
Less: Non-business expenses 1,392,879.22 520,756.10 1,531,984.78 558,240.69
Incl. Loss from disposal of non-current assets
IV. Gross profit (“-“ for loss) 174,753,689.61 201,229,800.74 136,628,344.32 142,913,223.02
Less: Income tax expenses 28,508,063.90 12,317,531.55 21,691,352.48 10,682,174.71
V. Net profit (“-“ for net loss) 146,245,625.71 188,912,269.19 114,936,991.84 132,231,048.31
Net profit attributable to the owners of parent company 113,125,254.41 188,912,269.19 95,383,524.58 132,231,048.31
Minor shareholders’ equity 33,120,371.30 19,553,467.26
VI. Earnings per share:
(I) Basic earnings per share 0.23 0.39 0.20 0.27
(II) Diluted earnings per share 0.23 0.39 0.20 0.27
VII. Other misc. incomes
VIII. Total of misc. incomes 146,245,625.71 188,912,269.19 114,936,991.84 132,231,048.31
Total of misc. incomes attributable to the owners of the
113,125,254.41 188,912,269.19 95,383,524.58 132,231,048.31
parent company
Total misc gains attributable to the minor shareholders 33,120,371.30 19,553,467.26
Merger of entities under common control, the net profit realized by the merged party was RMB0.00.
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Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2011 (Full Text)
4.3 Cash Flow Statement
Prepared by: Hangzhou Steam Turbine Co., Ltd. Jan - Mar 2011 in RMB Yuan
Amount of the Current Term Amount of the Previous Term
Items Parent Parent
Consolidated Consolidated
company company
I. Net cash flow from business operation
Cash received from sales of products and providing of
937,189,376.22 519,432,482.38 875,308,023.89 608,922,723.65
services
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 10,953,378.83
Other cash received from business operation 101,389,929.70 4,692,924.36 14,180,662.40 4,464,148.75
Sub-total of cash inflow from business activities 1,049,532,684.75 524,125,406.74 889,488,686.29 613,386,872.40
Cash paid for purchasing of merchandise and services 448,207,055.57 293,644,406.24 384,407,097.46 270,543,733.96
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 146,445,849.44 111,559,716.50 116,056,227.39 93,676,294.38
Taxes paid 107,971,545.42 44,742,710.13 105,146,312.68 70,987,668.45
Other cash paid for business activities 145,881,769.62 14,713,249.98 96,241,911.45 13,720,995.38
Sub-total of cash outflow from business activities 848,506,220.05 464,660,082.85 701,851,548.98 448,928,692.17
Cash flow generated by business operation, net 201,026,464.70 59,465,323.89 187,637,137.31 164,458,180.23
II. Cash flow generated by investing
Cash received from investment retrieving
Cash received as investment gains 112,340,030.00 71,698,725.00
Net cash retrieved from disposal of fixed assets, intangible
186,000.00 101,000.00
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 186,000.00 112,441,030.00 90,868.96 71,698,725.00
Cash paid for construction of fixed assets, intangible assets
22,370,290.54 10,499,592.97 67,019,024.68 22,509,090.75
and other long-term assets
Cash paid as investment 4,502,361.60 4,502,361.60 700,000.00
Net increase of loan against pledge
Net cash received from subsidiaries and other operational
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Hangzhou Steam Turbine Co., Ltd. The 1st Quarterly Report 2011 (Full Text)
units
Other cash paid for investment activities
Sub-total of cash outflow due to investment activities 26,872,652.14 15,001,954.57 67,719,024.68 22,509,090.75
Net cash flow generated by investment -26,686,652.14 97,439,075.43 -67,628,155.72 49,189,634.25
III. Cash flow generated by financing
Cash received as investment
Incl. Cash received as investment from minor shareholders
Cash received as loans 335,000,000.00 100,000,000.00 160,000,000.00
Cash received from bond placing
Other financing-related cash received
Subtotal of cash inflow from financing activities 335,000,000.00 100,000,000.00 160,000,000.00
Cash to repay debts 260,463,800.00 150,463,800.00 35,000,000.00
Cash paid as dividend, profit, or interests 59,541,315.67 622,810.10 33,498,933.02 2,086,548.68
Incl. Dividend and profit paid by subsidiaries to minor
shareholders
Other cash paid for financing activities
Subtotal of cash outflow due to financing activities 320,005,115.67 151,086,610.10 68,498,933.02 2,086,548.68
Net cash flow generated by financing 14,994,884.33 -51,086,610.10 91,501,066.98 -2,086,548.68
IV. Influence of exchange rate alternation on cash and cash
-179,412.15 -155,678.78 -155,568.26 -155,555.83
equivalents
V. Net increase of cash and cash equivalents 189,155,284.74 105,662,110.44 211,354,480.31 211,405,709.97
Plus: Balance of cash and cash equivalents at the beginning
657,077,394.71 332,065,321.54 486,439,602.82 100,717,329.17
of term
VI. Balance of cash and cash equivalents at the end of term 846,232,679.45 437,727,431.98 697,794,083.13 312,123,039.14
4.4 Auditors’ Report
Auditor’s opinion: not audited.
§5 Other Information to be Reported
5.1 Statement of non-operational capital adoption by the major shareholder and its subsidiaries
□applicable √ not applicable
5.2 Illegal external guarantees
□applicable √ not applicable
Hangzhou Steam Turbine Co., Ltd.
Mr. Chairman Nie Zhonghai
April 21, 2011
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