Stock Code: 200771 Stock ID: Hangqilun B Announcement No. 2013-23
Hangzhou Steam Turbine Co., Ltd.
The 1st Quarterly Report 2013
April 23 2013
1
Chapter I. Important Prompt
The Board of Directors, the Supervisory Committee, the directors, the supervisors and the executives 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.
Chairman Mr. Nie Zhonghai, Chief Financial Officer Mr. Yan Jianhuan, and the Chief of Accounting Department
Ms. Jiang Rong hereby declares: the Financial Statement in the report is guaranteed to be truthful, accurate and
complete.
All of the directors presented the board meeting at which this Quarterly Report was examined.
2
Chapter II. Financial Highlights and Change of Shareholders
I. Major Financial Data and Indicies
Was there any retrospective adjustment or restatement
[] No
Increase/decrease
Jan-Mar 2013 Jan-Mar 2012
(%)
Turnover (RMB) 909,859,334.71 839,641,291.98 8.36%
Net profit attributable to shareholders of the listed
92,554,047.22 73,609,688.78 25.74%
company (yuan)
Net profit attributable to the shareholders of the listed
company and after deducting of non-recurring 93,106,485.91 71,969,439.69 29.37%
gain/loss(RMB)
Net Cash flow generated by business operation (RMB) 128,887,234.97 160,770,968.68 -19.83%
Basic earnings per share (Yuan/share) 0.12 0.1 20%
Diluted earnings per share (Yuan/share) 0.12 0.1 20%
Weighted average net
2.36% 2% 0.36%
income/asset ratio (%)
Mar 31 2013 Dec 31 2012 Changed by (%)
Gross Assets (RMB) 7,400,772,218.25 7,447,716,037.95 -0.63%
Net asset attributable to owners of the PLC 3,963,076,860.62 3,872,156,922.52 2.35%
Non-recurring gain/loss items and amounts
In RMB Yuan
Amount of the period from
Items the beginning of year to the Remarks
end of report term
Gain/loss from disposal of non-current assets (includes the recovered part
34,710.35
of asset impairment provision already provided)
Gains and losses included in the current period of government subsidies,
excluding those government grants which are closely related to normal
80,000.00
business and in line with national policy , or in accordance with fixed
standards or quantities
Other non-business income and expenditures other than the above -723,958.27
Influenced amount of income tax -113,695.35
Influence on minority shareholders’ quity (after tax) 56,886.12
Total -552,438.69 --
3
II. Total of shareholders and top-10 holders of current shares at end of period
In shares
Total shareholders at the end of the
17,380
report period
Top 10 Shareholders
Share Frozen or pledged
Properties of Non-current shares
Name of the shareholder proportion Amount of shares Status of
shareholder held Amount
(%) shares
Hangzhou Steam Turbine Power Group State-owned
63.64% 479,824,800 479,824,800
Co., Ltd. legal person
Overseas
Li Minggong 0.98% 7,356,383 0
natural person
Overseas legal
NORGES BANK 0.48% 3,634,246 0
person
GOVERNMENT OF SINGAPORE Overseas legal
0.45% 3,376,460 0
INV.CORP.- A/C "C" person
GUOTAI JUNAN
Overseas legal
SECURITIES(HONGKONG) 0.31% 2,351,519 0
person
LIMITED
BOCHK INVESTMENT
Overseas legal
FUNDS-BOCHK CHINA GOLDEN 0.31% 2,301,344 0
person
DRAGON FUND
Domestic
Hu Xiaofeng 0.3% 2,249,155 0
natural person
Overseas legal
AUSTRALIANSUPER PTY LTD 0.28% 2,108,321 0
person
TOYO SECURITIES ASIA Overseas legal
0.27% 2,047,594 0
LIMITED-A/C CLIENT. person
Overseas legal
KGI ASIA LIMITED 0.25% 1,866,774 0
person
The top 10 current-share holders
Current shares Category of shares
Name of the shareholder
held Category of shares Amount
Foreign shares placed in
Li Minggong 7,356,383 7,356,383
domestic exchange
Foreign shares placed in
NORGES BANK 3,634,246 3,634,246
domestic exchange
Foreign shares placed in
GOVERNMENT OF SINGAPORE INV.CORP.- A/C "C" 3,376,460 3,376,460
domestic exchange
Foreign shares placed in
GUOTAI JUNAN SECURITIES(HONGKONG) LIMITED 2,351,519 2,351,519
domestic exchange
BOCHK INVESTMENT FUNDS-BOCHK CHINA Foreign shares placed in
2,301,344 2,301,344
GOLDEN DRAGON FUND domestic exchange
Foreign shares placed in
Hu Xiaofeng 2,249,155 2,249,155
domestic exchange
Foreign shares placed in
AUSTRALIANSUPER PTY LTD 2,108,321 2,108,321
domestic exchange
Foreign shares placed in
TOYO SECURITIES ASIA LIMITED-A/C CLIENT. 2,047,594 2,047,594
domestic exchange
Foreign shares placed in
KGI ASIA LIMITED 1,866,774 1,866,774
domestic exchange
Foreign shares placed in
Shanghai Hong Kong Wanguo Securities 1,767,264 1,767,264
domestic exchange
(1) Hangzhou Steam Turbine Power Group Co., Ltd. has no related
relationship with any of other shareholders.
(2) It is unknown whether there is any relationship among the 10
Notes to relationship or “action in concert” among the top
current-share holders.
ten shareholders.
(3) None of the other shareholders are regarded as Act in Concert
relationship according to the Administrative Regulations of
Information Disclosing of Public Companies.
4
Chapter III. Significant Issues
I. Particulars and causations of material change in major accounting items and indices
Balance Sheet Items End of term Beginning of Scale of Remarks on the change
term change %
Prepayment 428,619,249.43 275,397,188.58 55.64 Greater increase of overdue prepayment for
equipment at end of report period
Dividend receivable 1,000,000.00 435,586.13 129.58 Dividend of 2012 from Tianhang Auxiliary
Machine Co.
Other account 50,970,895.91 179,863,895.91 -71.66 Returning of receivable accounts from
receivable Zhongcheng Cement Co.
Other current asset 455,000,000.00 150,724,250.00 201.88 Increase of financial instruments purchased by the
Company and the Import & Export Co.
Intangible assets 81,555,035.32 210,185,683.85 -61.20 Eliminating of the balance sheet of Packaged
Tech Co. from the consolidation range
Long-term amortizable 1,352,509.28 2,618,841.58 -48.35 Eliminating of the balance sheet of Packaged
expenses Tech Co. from the consolidation range
Short-term loans 133,500,000.00 250,400,000.00 -46.69 Returning of loans due
Interest payable 228,197.26 -100.00 Payment of loan interest due
Dividend payable 9,800,000.00 -100.00 Dividend for minority shareholders paid by
Casting Co.
Other account payable 23,624,187.47 259,432,035.81 -90.89 Eliminating of the balance sheet of Packaged
Tech Co. from the consolidation range
Non-current liability 100,000,000.00 -100 Returning of loans due
due in 1 year
Income Statement End of term Beginning of Scale of Remarks on the change
Items term change %
Sales expense 53,100,698.38 39,647,696.80 33.93 Increase of travelling expense, shipping expense,
and wages
Financial expenses 1,188,275.56 7,112,367.43 -83.29 Mainly transferring of the Packaged Tech Co.,
and secondlly returning of bank loans
Asset impairment loss 4,906,632.30 10,316,381.04 -52.44 Slowing down of receivable account increase, and
decrease of bad debt provision due to retrieving of
some long-term receivable accounts
Investment gain ( “ - 32,512,645.45 1,471,453.87 2109.56 Gains from disposal of the Packaged Tech Co.
“ for loss)
Non-operational 1,033,068.08 3,700,796.34 -72.09 Decrease of government subsidy and tax
income refunding
Non-operational 1,142,316.00 1,722,096.40 -33.67 Decrease of water conservancy fund
expenditure
Total profit 144,300,380.92 102,039,158.80 41.42 Increase of investment gains
Net profit 122,932,607.42 85,377,886.67 43.99 Increase of investment gains
Minor shareholders ’ 30,378,560.20 11,768,197.89 158.14 Significant increase of profit of Zhong Neng Co.
equity
II. Analyze of significant issues and solutions
Not applicable
III. Commitment issues made by shareholders with over 5% or over of shares in the report
period or carried down from previous periods
Not applicable
IV. Business forcasting for Jan-Jun 2013
Alert of possible negative turn of accumulated net profit or material change from the year beginning to the end of
next report period
Not applicable
5
V. Securities investment
Not applicable
VI. Investment in derivate instruments
Not applicable
VII. Reception of investigation, commmunication, or visiting in report period
Type of
Time/date Place Way Visitors Main content involved and material provided
visitors
Business environment, overseas market, new
Jan 23 The Telephone Value
Organization growth point, strategic plan of 2013, and energy
2013 Company communication partners
saving features of the products
Form of gross profit and causation, cooperation
and competition of overseas companies, prospect
Jan 29 The Ruixun of gass turbine compressor, projected profit of
Field research Organization
2013 Company Huashi new industry, energy saving product and
industries involved, way to solve the problem of
B shares
6
Chapter IV. Financial Statements
I. Financial Statements
1. Consolidated Balance Sheet
Prepared by: Hangzhou Steam Turbine Co., Ltd
In RMB Yuan
Items Closing balance Openning balance
Current asset:
Monetary capital 807,062,973.38 1,100,640,580.62
Settlement provision
Outgoing call loan
Transactional financial assets
Notes receivable 819,661,055.23 803,384,920.81
Account receivable 1,967,488,406.28 1,946,840,383.15
Prepayment 428,619,249.43 275,397,188.58
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Interest receivable
Dividend receivable 1,000,000.00 435,586.13
Other account receivable 50,970,895.91 179,863,895.91
Repurchasing of financial assets
Inventories 1,520,445,704.35 1,451,289,045.64
Non-current asset due in 1 year
Other current asset 455,000,000.00 150,724,250.00
Total of current asset 6,050,248,284.58 5,908,575,850.84
Non-current assets
Disburse of consigned loans
Sellable financial asset
Expired investment in possess
Long-term receivable
Long-term share equity investment 462,088,813.22 462,088,813.22
Investment real estates
Fixed assets 628,532,334.29 652,753,812.70
Construction in process 90,335,120.11 108,252,291.56
Engineering goods
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 81,555,035.32 210,185,683.85
R&D expense
Goodwill
Long-term amortizable expenses 1,352,509.28 2,618,841.58
Deferred income tax asset 76,460,121.45 93,040,744.20
Other non-current asset 10,200,000.00 10,200,000.00
Total of non-current assets 1,350,523,933.67 1,539,140,187.11
7
Total of assets 7,400,772,218.25 7,447,716,037.95
Current liabilities
Short-term loans 133,500,000.00 250,400,000.00
Loan from Central Bank
Deposit received and hold for others
Call loan received
Transactional financial liabilities
Notes payable 117,712,135.70 133,505,278.70
Account payable 769,809,959.31 608,127,982.09
Advances received 1,863,564,007.79 1,632,856,815.04
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable 29,136,207.95 27,384,846.15
Tax payable 77,670,377.41 85,182,827.55
Interest payable 228,197.26
Dividend payable 9,800,000.00
Other account payable 23,624,187.47 259,432,035.81
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Non-current liability due in 1 year 100,000,000.00
Other current liability
Total of current liability 3,015,016,875.63 3,106,917,982.60
Non-current liabilities
Long-term borrowings
Bond payable
Long-term payable 330,000.00 330,000.00
Special payable
Anticipated liabilities
Deferred income tax liability 1,037,517.08 1,037,517.08
Other non-recurring liabilities 12,611,541.00 11,149,265.00
Total of non-current liabilities 13,979,058.08 12,516,782.08
Total of liability 3,028,995,933.71 3,119,434,764.68
Owners’ equity (or shareholders’ equity)
Capital paid in (or share capital) 754,010,400.00 754,010,400.00
Capital reserves 138,355,736.64 139,590,345.09
Less: Shares in stock
Special reserves 9,895,047.67 10,294,548.34
Surplus reserves 518,540,739.23 518,540,739.23
Common risk provision
Retained profit 2,542,274,937.08 2,449,720,889.86
Different of foreign currency translation
Total of owner’s equity belong to the parent company 3,963,076,860.62 3,872,156,922.52
Minor shareholders’ equity 408,699,423.92 456,124,350.75
Total of owners’ equity (or shareholders’ equity) 4,371,776,284.54 4,328,281,273.27
Total of liability and shareholders’ equity (or owners’ equity) 7,400,772,218.25 7,447,716,037.95
8
Legal representative: Nie Zhonghai CFO: Yan Jianhua Accounting Manager: Jiang Rong
2. Balance Sheet of the Parent Company
Prepared by: Hangzhou Steam Turbine Co., Ltd
In RMB Yuan
Items Closing balance Openning balance
Current asset:
Monetary capital 415,860,932.34 654,577,030.60
Transactional financial assets
Notes receivable 522,863,458.95 555,963,481.26
Account receivable 1,654,955,851.61 1,447,088,649.71
Prepayment 281,830,262.21 148,589,241.50
Interest receivable
Dividend receivable 10,635,586.13
Other account receivable 26,808,815.35 22,772,249.70
Inventories 1,194,876,187.67 1,025,077,300.24
Non-current asset due in 1 year
Other current asset 360,000,000.00 100,000,000.00
Total of current asset 4,457,195,508.13 3,964,703,539.14
Non-current assets
Sellable financial asset
Expired investment in possess
Long-term receivable
Long-term share equity investment 516,782,461.07 516,782,461.07
Investment real estates
Fixed assets 317,023,165.33 331,961,743.27
Construction in process 58,559,933.10 78,827,759.37
Engineering goods
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 43,188,216.01 44,366,863.73
R&D expense
Goodwill
Long-term amortizable expenses 1,352,509.28 1,352,509.28
Deferred income tax asset 55,106,028.33 55,106,028.33
Other non-current asset
Total of non-current assets 992,012,313.12 1,028,397,365.05
Total of assets 5,449,207,821.25 4,993,100,904.19
9
Current liabilities
Short-term loans
Transactional financial liabilities
Notes payable
Account payable 497,871,476.41 286,310,510.70
Advances received 1,404,588,843.11 1,219,358,402.37
Employees’ wage payable 17,197,120.93 15,910,246.38
Tax payable 20,357,629.70 36,696,777.46
Interest payable
Dividend payable
Other account payable 12,169,664.71 16,507,901.29
Non-current liability due in 1 year 100,000,000.00
Other current liability
Total of current liability 1,952,184,734.86 1,674,783,838.20
Non-current liabilities
Long-term borrowings
Bond payable
Long-term payable
Special payable
Anticipated liabilities
Deferred income tax liability 1,037,517.08 1,037,517.08
Other non-recurring liabilities 1,429,250.00 289,250.00
Total of non-current liabilities 2,466,767.08 1,326,767.08
Total of liability 1,954,651,501.94 1,676,110,605.28
Owners’ equity (or shareholders’ equity)
Capital paid in (or share capital) 754,010,400.00 754,010,400.00
Capital reserves 138,953,250.09 138,953,250.09
Less: Shares in stock
Special reserves 4,671,366.80 4,671,366.80
Surplus reserves 499,784,334.10 499,784,334.10
Common risk provision
Retained profit 2,097,136,968.32 1,919,570,947.92
Different of foreign currency translation
Total of owners’ equity (or shareholders’ equity) 3,494,556,319.31 3,316,990,298.91
Total of liability and shareholders’ equity (or owners’ equity) 5,449,207,821.25 4,993,100,904.19
Legal representative: Nie Zhonghai CFO: Yan Jianhua Accounting Manager: Jiang Rong
10
3. Consolidated Income Statement
Prepared by: Hangzhou Steam Turbine Co., Ltd
In RMB Yuan
Amount of the Current Amount of the Previous
Items
Term Term
I. Total revenue 909,859,334.71 839,641,291.98
Incl. Business income 909,859,334.71 839,641,291.98
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 797,962,351.32 741,052,286.99
Incl. Business cost 600,670,790.56 552,376,993.67
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 8,637,254.62 7,352,785.55
Sales expense 53,100,698.38 39,647,696.80
Administrative expense 129,458,699.90 124,246,062.50
Financial expenses 1,188,275.56 7,112,367.43
Asset impairment loss 4,906,632.30 10,316,381.04
Plus: Gains from change of fair value (“-“ for loss)
Investment gains (“-“ for loss) 32,512,645.45 1,471,453.87
Incl. Investment gains from affiliates
Gains from currency exchange (“-“ for loss)
III. Operation profit (“-“ for loss) 144,409,628.84 100,060,458.86
Plus: non-operational income 1,033,068.08 3,700,796.34
Less: non-operational expenditure 1,142,316.00 1,722,096.40
Incl. Loss from disposal of non-current assets
IV. Total profit (“-“ for total loss) 144,300,380.92 102,039,158.80
Less: Income tax expenses 21,367,773.50 16,661,272.13
V. Net profit (“-“ for net loss) 122,932,607.42 85,377,886.67
Including: Net profit realized by the entity taken over
before the takover
Net profit attributable to the owners of parent company 92,554,047.22 73,609,688.78
Minor shareholders’ equity 30,378,560.20 11,768,197.89
VI. Earnings per share: -- --
(I) Basic earnings per share 0.12 0.1
(II) Diluted earnings per share 0.12 0.1
VII. Other misc. incomes
VIII. Total of misc. incomes 122,932,607.42 85,377,886.67
Total of misc. incomes attributable to the owners of the
92,554,047.22 73,609,688.78
parent company
Total misc gains attributable to the minor shareholders 30,378,560.20 11,768,197.89
Legal representative: Nie Zhonghai CFO: Yan Jianhua Accounting Manager: Jiang Rong
11
4. Income Statement of the Parent Co.
Prepared by: Hangzhou Steam Turbine Co., Ltd
In RMB Yuan
Amount of the Current Amount of the Previous
Items
Term Term
I. Turnover 699,823,033.65 546,799,918.52
Less: Operation cost 500,648,394.01 372,812,863.76
Business tax and surcharge 6,089,054.65 4,142,441.42
Sales expense 34,489,717.81 25,956,089.80
Administrative expense 82,242,657.28 75,874,120.64
Financial expenses -1,187,732.76 1,107,681.84
Asset impairment loss 3,378,665.27 10,835,277.36
Plus: Gains from fluctuation of fair value (“-“ for
loss)
Investment gains (“-“ for loss) 115,396,543.41 93,218,540.00
Incl. Investment gains from affiliates
II. Operational profit (“-“ for loss) 189,558,820.80 149,289,983.70
Plus: Non business income 52,532.33 1,565,695.00
Less: Non-business expenses 732,645.01 738,627.83
Incl. Loss from disposal of non-current assets
III. Total profit (“-“ for total loss) 188,878,708.12 150,117,050.87
Less: Income tax expenses 11,312,687.72 8,534,776.64
IV. Net profit (“-“ for net loss) 177,566,020.40 141,582,274.23
V. Earnings per share -- --
(I) Basic earnings per share 0.24 0.19
(II) Diluted earnings per share 0.24 0.19
VI. Other misc gains
VII. Total of integrated income 177,566,020.40 141,582,274.23
Legal representative: Nie Zhonghai CFO: Yan Jianhua Accounting Manager: Jiang Rong
12
5. Consolidated Cash Flow Statement
Prepared by: Hangzhou Steam Turbine Co., Ltd
In RMB Yuan
Amount of the Current Amount of the Previous
Items
Term Term
I. Net cash flow from business operation
Cash received from sales of products and providing of
793,203,143.08 974,850,296.20
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 3,280,209.15 25,812,888.46
Other cash received from business operation 5,923,854.75 31,815,500.18
Sub-total of cash inflow from business activities 802,407,206.98 1,032,478,684.84
Cash paid for purchasing of merchandise and services 413,506,393.39 536,695,846.99
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 177,759,115.47 156,088,134.32
Taxes paid 112,382,570.57 104,152,153.46
Other cash paid for business activities -30,128,107.42 74,771,581.39
Sub-total of cash outflow from business activities 673,519,972.01 871,707,716.16
Cash flow generated by business operation, net 128,887,234.97 160,770,968.68
II. Cash flow generated by investing
Cash received from investment retrieving 137,602,269.95
Cash received as investment profit 54,679,874.06 1,200,202.36
Net cash retrieved from disposal of fixed assets, intangible
-93,477.07
assets, and other long-term assets
Net cash received from disposal of subsidiaries or other
-2,446,457.95
operational units
Other investment-related cash received 100,000,000.00 5,001,469.10
Sub-total of cash inflow due to investment activities 289,835,686.06 6,108,194.39
Cash paid for construction of fixed assets, intangible assets
25,183,236.34 21,845,534.73
and other long-term assets
Cash paid as investment 108,000,000.00
Net increase of loan against pledge
Net cash received from subsidiaries and other operational
units
Other cash paid for investment activities 405,000,000.00 295,000,000.00
Sub-total of cash outflow due to investment activities 538,183,236.34 316,845,534.73
13
Net cash flow generated by investment -248,347,550.28 -310,737,340.34
III. Cash flow generated by financing
Cash received as investment 3,600,000.00
Incl. Cash received as investment from minor shareholders
Cash received as loans 85,110,000.00 86,000,000.00
Cash received from bond placing
Other financing-related cash received
Subtotal of cash inflow from financing activities 85,110,000.00 89,600,000.00
Cash to repay debts 184,549,250.40 108,900,000.00
Cash paid as dividend, profit, or interests 74,254,928.87 8,668,185.71
Incl. Dividend and profit paid by subsidiaries to minor
shareholders
Other cash paid for financing activities
Subtotal of cash outflow due to financing activities 258,804,179.27 117,568,185.71
Net cash flow generated by financing -173,694,179.27 -27,968,185.71
IV. Influence of exchange rate alternation on cash and cash
-423,112.66 -100,601.96
equivalents
V. Net increase of cash and cash equivalents -293,577,607.24 -178,035,159.33
Plus: Balance of cash and cash equivalents at the
1,100,640,580.62 662,648,725.65
beginning of term
VI. Balance of cash and cash equivalents at the end of term 807,062,973.38 484,613,566.32
Legal representative: Nie Zhonghai CFO: Yan Jianhua Accounting Manager: Jiang Rong
14
6. Cash Flow Statement of the Parent Co.
Prepared by: Hangzhou Steam Turbine Co., Ltd
In RMB Yuan
Amount of the Current Amount of the Previous
Items
Term Term
I. Net cash flow from business operation
Cash received from sales of products and providing of
650,373,267.69 522,040,189.76
services
Tax returned
Other cash received from business operation 3,386,248.74 5,367,313.45
Sub-total of cash inflow from business activities 653,759,516.43 527,407,503.21
Cash paid for purchasing of merchandise and services 419,288,535.91 302,471,325.03
Cash paid to staffs or paid for staffs 137,476,175.32 113,264,636.45
Taxes paid 68,735,773.20 56,429,334.87
Other cash paid for business activities 12,247,810.31 23,103,833.93
Sub-total of cash outflow from business activities 637,748,294.74 495,269,130.28
Cash flow generated by business operation, net 16,011,221.69 32,138,372.93
II. Cash flow generated by investing
Cash received from investment retrieving
Cash received as investment profit 125,596,543.41 67,417,040.00
Net cash retrieved from disposal of fixed assets, intangible
1,460.00
assets, and other long-term assets
Net cash received from disposal of subsidiaries or other
operational units
Other investment-related cash received 100,000,000.00
Sub-total of cash inflow due to investment activities 225,596,543.41 67,418,500.00
Cash paid for construction of fixed assets, intangible assets
19,161,273.59 12,792,575.69
and other long-term assets
Cash paid as investment
Net cash received from subsidiaries and other operational
units
Other cash paid for investment activities 360,000,000.00 230,000,000.00
Sub-total of cash outflow due to investment activities 379,161,273.59 242,792,575.69
Net cash flow generated by investment -153,564,730.18 -175,374,075.69
III. Cash flow generated by financing
Cash received as investment
Cash received as loans
Cash received from bond placing
Other financing-related cash received
Subtotal of cash inflow from financing activities
Cash to repay debts 100,000,000.00
Cash paid as dividend, profit, or interests 665,000.00 1,203,222.22
Other cash paid for financing activities
Subtotal of cash outflow due to financing activities 100,665,000.00 1,203,222.22
Net cash flow generated by financing -100,665,000.00 -1,203,222.22
IV. Influence of exchange rate alternation on cash and cash
-497,589.77 -80,749.18
equivalents
V. Net increase of cash and cash equivalents -238,716,098.26 -144,519,674.16
Plus: Balance of cash and cash equivalents at the beginning
654,577,030.60 335,248,349.26
of term
VI. Balance of cash and cash equivalents at the end of term 415,860,932.34 190,728,675.10
Legal representative: Nie Zhonghai CFO: Yan Jianhua Accounting Manager: Jiang Rong
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II. Auditors’ Report
If the 1st Quarterly Financial Statements are audited?
[V] No
Hangzhou Steam Turbine Co., Ltd.
Chairman Nie Zhonghai
April 23, 2013
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