The 1st Quarterly Report 2014 (Official Text)
Stock Code: 200771 Stock ID: Hangqilun B Announcement No. 2014-25
Hangzhou Steam Turbine Co., Ltd.
The 1st Quarterly Report 2014
Official Text
Disclosed on April 24, 2014
1
The 1st Quarterly Report 2014 (Official Text)
Chapter I. Important Prompt
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 Pu Yangshuo, and the Chief of Accounting Department Ms.
Jiang Rong hereby declare: the Financial Statement in the report is guaranteed to be truthful and complete.
2
The 1st Quarterly Report 2014 (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?
[] No
Increase/
Same period last
This report term decrease
year
(%)
Turnover (RMB) 655,138,863.63 909,859,334.71 -28%
Net profit attributable to shareholders of the listed company
67,299,811.53 92,554,047.22 -27.29%
(yuan)
Net profit attributable to the shareholders of the listed
company and after deducting of non-recurring 65,395,091.62 93,106,485.91 -29.76%
gain/loss(RMB)
Net Cash flow generated by business operation (RMB) 96,957,341.66 128,887,234.97 -24.77%
Basic earnings per share (Yuan/share) 0.09 0.12 -25%
Diluted earnings per share (Yuan/share) 0.09 0.12 -25%
Weighted average net
1.58% 2.36% -0.78%
income/asset ratio (%)
Ended this report Changed
End of prev. year
term by %
Gross Assets (RMB) 7,797,775,835.85 7,645,648,806.43 1.99%
Net asset attributable to owners of the PLC 4,298,164,482.90 4,230,942,110.74 1.59%
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
65,674.14
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
1,277,500.00
business and in line with national policy , or in accordance with fixed
standards or quantities
Gain/loss from change of fair value of transactional asset and liabilities, and
investment gains from disposal of transactional financial assets and
liabilities and sellable financial assets, other than valid period value 1,925,017.77
instruments related to the Company’s common businesses
Other non-business income and expenditures other than the above -324,636.55
Less: Influenced amount of income tax 933,304.65
Influence on minority shareholders’ quity (after tax) 105,530.80
Total 1,904,719.91 --
3
The 1st Quarterly Report 2014 (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
18,810
report period
Top 10 Shareholders
Amount of Frozen or pledged
Properties of Share
Name of the shareholder Amount of shares unconditional shares Status of
shareholder proportion (%) Amount
held shares
Hangzhou Steam Turbine Power State-owned
63.64% 479,824,800 479,824,800
Group Co., Ltd. legal person
Overseas legal
NORGES BANK 0.58% 4,396,608 0
person
Overseas legal
GIC PRIVATE LIMITED 0.45% 3,376,460 0
person
BOCHK INVESTMENT
Overseas legal
FUNDS-BOCHK CHINA 0.31% 2,301,344 0
person
GOLDEN DRAGON FUND
Overseas
Li Minggong 0.29% 2,202,168 0
natural person
Overseas legal
AUSTRALIANSUPER PTY LTD 0.28% 2,108,321 0
person
Domestic
Xia Zulin 0.24% 1,808,400 0
natural person
Overseas legal
KGI ASIA LIMITED 0.23% 1,765,389 0
person
VANGUARD TOTAL
Overseas legal
INTERNATIONAL STOCK 0.23% 1,704,436 0
person
INDEX FUND
GSIC A/C MONETARY Overseas legal
0.19% 1,402,404 0
AUTHORITY OF SINGAPORE person
Top 10 holders of unconditional shares
Amount of shares without Category of shares
Name of the shareholder
trade limited conditions Category of shares Amount
Foreign shares placed in
NORGES BANK 4,396,608 4,396,608
domestic exchange
Foreign shares placed in
GIC PRIVATE LIMITED 3,376,460 3,376,460
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
Li Minggong 2,202,168 2,202,168
domestic exchange
Foreign shares placed in
AUSTRALIANSUPER PTY LTD 2,108,321 2,108,321
domestic exchange
Foreign shares placed in
Xia Zulin 1,808,400 1,808,400
domestic exchange
Foreign shares placed in
KGI ASIA LIMITED 1,765,389 1,765,389
domestic exchange
VANGUARD TOTAL INTERNATIONAL STOCK Foreign shares placed in
1,704,436 1,704,436
INDEX FUND domestic exchange
Foreign shares placed in
GSIC A/C MONETARY AUTHORITY OF SINGAPORE 1,402,404 1,402,404
domestic exchange
Foreign shares placed in
Zhu Guanhong 1,378,788 1,378,788
domestic exchange
(1) It is unknown whether there is any relationship among the 10
unlimited share holders.
Notes to relationship or “action in concert” among the
(2) None of the other shareholders is “acting-in-concert” as described by
top ten shareholders. “Administration Rules of Information Disclosure on Change of
Shareholding Position”
Was there any agreed repurchasing trade by shareholders in the report period
[] No
4
The 1st Quarterly Report 2014 (Official Text)
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
Mainly increase of prepayment for equipment in
298,838,666.31 221,002,418.39 35.22%
Prepayment the closing balance
Mainly booking of the land using payment by the
306,302,332.84 225,562,108.26 35.80%
Intangible assets Heavy Industry Co. – subsidiary of the Company
Mainly booking of the land using payment by the
66,500,000.00 -100.00%
Other non-current asset Heavy Industry Co. – subsidiary of the Company
Mainly payment of VAT and income tax payable
58,111,350.49 107,956,056.99 -46.17% for the 4th quarter of previous year and paid in the
Tax payable report period
Income Statement End of term Beginning of Scale of Remarks on the change
Items term change
Mainly because delivery of a gas turbine with
655,138,863.63 909,859,334.71 -28.00%
Turnover greater value in the same period of previous year
Mainly decrease of operational income and
391,732,308.05 600,670,790.56 -34.78%
Operation cost operational costs as well
Business tax and Mainly decrease of operational income and
3,720,562.98 8,637,254.62 -56.92%
surcharge operational tax as well
Mainly decrease of traveling and transportation
31,462,842.37 53,100,698.38 -40.75%
Sales expense expenses
Mainly because increase of bank loan interests
3,218,139.84 1,188,275.56 170.82%
Financial expenses comparing with the same period of last year
Mainly income generated by transferring of
2,925,017.77 32,512,645.45 -91.00% Packaged Engineering Co. of the Group in
Investment income previous year
Mainly decrease of operational income and
97,387,811.40 144,300,380.92 -32.51%
Total profit investment gains
Mainly decrease of operational income and
77,442,980.91 122,932,607.42 -37.00%
Net profit investment gains
Mainly because of decrease of profit of
Minor shareholders ’ 10,143,169.38 30,378,560.20 -66.61% subsidiaries and decrease of minority
equity shareholders’ share
Cash Flow Statement End of term Beginning of Scale of Remarks on the change
Items term change
Net cash flow generated Mainly because decrease of financial instruments
-145,467,894.27 -248,347,550.28 -41.43%
by investment purchased this period
Net cash flow generated Mainly decrease of loans repaid and dividend
-12,088,990.45 -173,694,179.27 -93.04%
by financing distributed in the period
Net increasing of cash Mainly greater decrease of cash outflow for
-60,393,382.35 -293,577,607.24 -79.43%
and cash equivalents investment or financing activities
II. Analyze of significant issues and solutions
None
III. Commitment issues of shareholders with 5% or over of shares occurred in the report
period or carried down from previous report periods
None
IV. Business prospect for Jan-Jun 2014
Not applicable
5
The 1st Quarterly Report 2014 (Official Text)
V. Securities investment
Not applicable
VI. Investment in derivate instruments
Not applicable
VII. Reception of investigation, communication, or visiting in report period
Type of
Time/date Place Way Visitors Main content involved and material provided
visitors
Acceptance of orders in 2013; change of overseas
Industrial orders; change of material price; cash flow comparing;
The
Jan 16, 2014 Field research Institute Analyzer from reason of greater impairment provision in the 3rd
Company
Ruixun Huashi quarter; increase of employee wages; progress of the
solar energy project.
Hangzhou Steam Turbine Co., Ltd.
Chairman of the Board: Nie Zhonghai
April 24, 2014
6