Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2013 (Official Text)
Stock Code: 200771 Stock ID: Hangqilun B Announcement No. 2013-60
Hangzhou Steam Turbine Co., Ltd.
The 3rd Quarterly Report 2013 (Official text)
Chapter I. Important Statement
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.
All of the directors presented the board meeting at which this Quarterly Report was examined.
Chairman Mr. Nie Zhonghai, Chief Financial Officer Mr. Pu Yangshuo, and the Chief of Accounting Department
Jiang Rong hereby declares: the Financial Statement in the report is guaranteed to be truthful and complete.
1
Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2013 (Official Text)
Chapter II. Financial Highlights and Change of Shareholders
I. Main accounting data and indices
Are there any retrospective adjustment or restatement of financial information of previous year due
to change of accounting policies or correcting of accounting errors
[] Yes [V] No
Ended this report Changed (%) over
End of prev. year
term end of prev. year
Gross Assets (RMB) 7,556,700,150.47 7,447,716,037.95 1.46%
Net asset attributable to owners of the PLC 4,033,958,802.14 3,872,156,922.52 4.18%
Changed over the
Increase/decrease From beginning of year to
This report term same period of
(%) the end of report period
previous year (%)
Turnover (RMB) 1,433,030,061.77 24.23% 3,452,775,892.69 4.89%
Net profit attributable to shareholders of the
231,707,861.66 34.87% 464,634,086.04 -8.73%
listed company (yuan)
Net profit attributable to the shareholders of
the listed company and after deducting of 231,573,912.09 34.32% 451,607,665.16 11.42%
non-recurring gain/loss(RMB)
Net Cash flow generated by business
-- -- 167,506,509.10 -67.48%
operation (RMB)
Basic earnings per share (Yuan/share) 0.307 36.44% 0.6162 -8.74%
Diluted earnings per share (Yuan/share) 0.307 36.44% 0.6162 -8.74%
Weighted average net
5.91% 22.11% 11.6% -20.11%
income/asset ratio (%)
Non-recurring gain/loss items and amounts
[V] Applicable Not applicable
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
28,829,746.19
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
2,914,874.00
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 -787,944.30
Sub-total
Less: Influenced amount of income tax 4,696,344.53
Influence on minority shareholders’ quity (after tax) 13,233,910.48
Total 13,026,420.88 --
2
Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2013 (Official Text)
II. Total of shareholders and top-10 holders of current shares at end of period
in shares
Total shareholders at the end of the report period 18,170
Top 10 Shareholders
Frozen or pledged
Amount of unconditional shares
Name of the shareholder Properties of shareholder Share proportion (%) Amount of shares Status of
held Amount
shares
Hangzhou Steam Turbine Power Group Co., Ltd. State-owned legal person 63.64% 479,824,800 479,824,800
Li Minggong Overseas natural person 0.96% 7,275,927 0
NORGES BANK Overseas legal person 0.48% 3,634,246 0
GOVERNMENT OF SINGAPORE INV. CORP.- A/C "C" Overseas legal person 0.45% 3,376,460 0
BOCHK INVESTMENT FUNDS-BOCHK CHINA
Overseas legal person 0.31% 2,301,344 0
GOLDEN DRAGON FUND
AUSTRALIANSUPER PTY LTD Overseas legal person 0.28% 2,108,321 0
KGI ASIA LIMITED Overseas legal person 0.26% 1,996,550 0
Shanghai Hong Kong Wanguo Securities Overseas legal person 0.23% 1,707,236 0
Xia Zulin Domestic natural person 0.21% 1,616,000 0
TOYO SECURITIES ASIA LIMITED-A/C CLIENT. Overseas legal person 0.19% 1,444,371 0
Top 10 holders of unconditional shares
Amount of shares without trade limited Category of shares
Name of the shareholder
conditions Category of shares Amount
Li Minggong 7,275,927 Foreign shares placed in domestic exchange 7,275,927
NORGES BANK 3,634,246 Foreign shares placed in domestic exchange 3,634,246
GOVERNMENT OF SINGAPORE INV. CORP.- A/C "C" 3,376,460 Foreign shares placed in domestic exchange 3,376,460
BOCHK INVESTMENT FUNDS-BOCHK CHINA
2,301,344 Foreign shares placed in domestic exchange 2,301,344
GOLDEN DRAGON FUND
AUSTRALIANSUPER PTY LTD 2,108,321 Foreign shares placed in domestic exchange 2,108,321
KGI ASIA LIMITED 2,108,321 Foreign shares placed in domestic exchange 2,108,321
Shanghai Hong Kong Wanguo Securities 1,707,236 Foreign shares placed in domestic exchange 1,707,236
Xia Zulin 1,616,000 Foreign shares placed in domestic exchange 1,616,000
TOYO SECURITIES ASIA LIMITED-A/C CLIENT. 1,444,371 Foreign shares placed in domestic exchange 1,444,371
GUOTAI JUNAN SECURITIES(HONGKONG) LIMITED 1,425,209 Foreign shares placed in domestic exchange 1,425,209
(1) Hangzhou Steam Power Group Co., Ltd. is the state-owned shareholder of the Company, all of the other owners are B-share
holders.
Notes to relationship or “action in concert” among the top (2) There is no relationship between Hangzhou Steam Turbine Power Group Co., Ltd. and other shareholders;
ten shareholders. (3) It is unknown whether there is any relationship among the 10 current-share holders.
(4) None of the other shareholders are regarded as Act in Concert relationship according to the Administrative Regulations of
Information Disclosing of Public Companies.
Was there any agreed repurchasing trade by shareholders in the report period
[] Yes [V] No
3
Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2013 (Official Text)
Chapter III. Significant Issues
I. Particulars and causations of material change in major accounting items and indices
Items in balance sheet End of period Beginning of period Scale of Remarks
change %
Prepayment 440,063,602.62 275,397,188.58 60% Increase of prepayment for parts and equipments according to contracts
Other receivable 50,939,005.38 179,863,895.91 -72% Mainly because the opening balance was including accounts receivable from Zhongcheng
Cement, etc.
Intangible assets 87,944,004.52 210,185,683.85 -58% Mainly because disposal of business rights of Residue Power Plant which was in the opening
balance
Other non-current assets 10,200,000.00 -100% Transferring of investment in Xinjiang Taifeng Hangqilun to long-term investment
Short term loans 118,500,000.00 250,400,000.00 -53% Decrease of short-term loans under Zhongneng Co.
Notes payable 199,364,342.10 133,505,278.70 49% Increase of notes payable under subsidiaries
Account payable 950,986,230.14 608,127,982.09 56% Business growth and increase of payable provisions drawn
Wage payable 48,889,194.55 27,384,846.15 79% Enterprise foundation provided but not paid
Other payables 25,176,561.48 259,432,035.81 -90% There was a RMB235 mil account borrowed by Packaged Tech Co. of the Group from Steam
Turbine Engineering.
Items in income statements Current period Same period last Scale of
year change %
Financial expenses 2,769,682.15 26,177,710.58 -89% Mainly decrease of short-term loans and interests under Zhongneng Co.
Loss from asset impairment 23,286,159.94 -8,170,020.59 -385% Mainly providing of provisions for account receivable in the period
Investment gains (“-“ for loss) 67,805,353.37 32,452,060.00 109% Mainly gains from disposal of equipments by Zhongneng Co.
Items in cash flow statement Current period Same period last Scale of
year change %
Cash flow from business 167,506,509.10 515,020,797.57 -67% Mainly increase of inventory and notes receivable
operation, net
Cash flow from investment, net 50,314,770.97 -448,680,064.81 -111% Mainly influence of financial products
Cash flow from financing -524,072,084.11 -246,137,873.16 113% Mainly increase of dividend and repaying of debts
4
Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2013 (Official Text)
II. Analyze of significant issues and solutions
Aiming at further combine the R&D resources acquired by the Company and improve the
technical innovation system, the Company is planning to build the R&D center. This proposal was
approved at the Shareholders’ Meeting 2012 held on June 24, 2013.
At the 3rd meeting of the 6th term of Board held on September 10 2013, the “Proposal to
participate in the bidding competition for land using rights” was approved, and announced on
September 10, 2013 (Announcement No. 2013-55). On October 9, 2013, the Company has engaged
with Zhejiang Hangzhou National Land Resources Bureau by the “Land Using Contract”
(Announcement No. 2013-56).
Index of provisional
Summary of material issues Date of disclosure
announcement
At the 3rd meeting of the 6th term of Board, the “Proposal to participate in the
http://www.cninfo.com.cn No.
bidding competition for land using rights” was approved, for detials please Sept. 10 2013
2013-54
find the Resolutions of the 3rd Meeting of the 6th Term of Board.
Disclosing of “The Proposal to participate in the bidding competition for land http://www.cninfo.com.cn No.
Sept. 10 2013
using rights” 2013-55
Disclosing of “The succeeding issues of bidding competition for land using http://www.cninfo.com.cn No.
October 11, 2013
rights” 2013-56
III. Prospection on the business performance of year 2013
Alert of loss or significant change in net profit from the beginning of year to the end of next report
period or comparing with the same period of last year, and statement of causations.
[] Applicable; [V] Not applicable
IV. Reception of investigation, commmunication, or visiting in report period
Type of
Time/date Place Way Visitors Main content involved and material provided
visitors
Hua’an
Application fields of the Company’s products, execution of contracts,
July 17, The Field Foundation
Institution gross profit ratio, and national market layout. (No hard-copy material
2013 Company research Zheshang
was provided)
Securities
Market share of the Company’s products and causations, competition
Sept.4 The Field Morgan Stanley
Institution edge. Influences of national policies and overall economy. (No
2013 Company research and clients
hard-copy material was provided)
Business position in the first half year, differences of powerplant
Sept. 10 The Field Ping’an
Institution steam turbine and driving steam turbine, overseas market, business of
2013 Company research Securities
the Casting Co. (No hard-copy material was provided)
Hangzhou Steam Turbine Co., Ltd.
Chairman of the Board: Nie Zhonghai
October 25, 2013
5
