The 1st Quarterly Report 2014 (Full Text)
Stock Code: 200771 Stock ID: Hangqilun B Announcement No. 2014-24
Hangzhou Steam Turbine Co., Ltd.
The 1st Quarterly Report 2014
Full Text
Disclosed on April 24, 2014
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The 1st Quarterly Report 2014 (Full 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.
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The 1st Quarterly Report 2014 (Full 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 --
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The 1st Quarterly Report 2014 (Full 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
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The 1st Quarterly Report 2014 (Full 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
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The 1st Quarterly Report 2014 (Full 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.
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The 1st Quarterly Report 2014 (Full Text)
Chapter IV. Financial Statements
I. Financial Statements
1. Consolidated Balance Sheet
Prepared by: Hangzhou Steam Turbine Co., Ltd In RMB Yuan
Items Closing balance Opening balance
Current asset:
Monetary capital 822,748,185.82 883,141,568.17
Settlement provision
Outgoing call loan
Transactional financial assets
Notes receivable 798,392,201.82 921,474,660.68
Account receivable 2,097,169,952.19 2,116,165,121.01
Prepayment 298,838,666.31 221,002,418.39
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Interest receivable
Dividend receivable
Other account receivable 35,955,687.18 31,299,637.50
Repurchasing of financial assets
Inventories 1,732,984,068.50 1,522,662,268.44
Non-current asset due in 1 year
Other current asset 376,063,143.44 318,647,045.27
Total of current asset 6,162,151,905.26 6,014,392,719.46
Non-current assets
Disburse of consigned loans
Sellable financial asset
Expired investment in possess
Long-term receivable
Long-term share equity investment 472,349,826.87 472,349,826.87
Investment real estates
Fixed assets 593,294,964.47 609,425,345.52
Construction in process 175,279,780.65 166,904,606.60
Engineering goods
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 306,302,332.84 225,562,108.26
R&D expense
Goodwill
Long-term amortizable expenses 36,748.58 36,748.58
Deferred income tax asset 88,360,277.18 90,477,451.14
Other non-current asset 66,500,000.00
Total of non-current assets 1,635,623,930.59 1,631,256,086.97
Total of assets 7,797,775,835.85 7,645,648,806.43
Current liabilities
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The 1st Quarterly Report 2014 (Full Text)
Short-term loans 376,900,000.00 376,900,000.00
Loan from Central Bank
Deposit received and hold for others
Call loan received
Transactional financial liabilities
Notes payable 130,108,052.85 168,751,198.95
Account payable 863,501,051.58 778,441,385.31
Advances received 1,585,824,528.89 1,480,588,499.90
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable 45,731,790.55 63,401,599.09
Tax payable 58,111,350.49 107,956,056.99
Interest payable
Dividend payable
Other account payable 45,913,667.90 46,941,539.40
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 3,106,090,442.26 3,022,980,279.64
Non-current liabilities
Long-term borrowings
Bond payable
Long-term payable 330,000.00 330,000.00
Special payable
Expected liabilities
Deferred income tax liability 1,017,473.05 1,017,473.05
Other non-recurring liabilities 11,366,370.00 9,700,985.00
Total of non-current liabilities 12,713,843.05 11,048,458.05
Total of liability 3,118,804,285.31 3,034,028,737.69
Owners’ equity (or shareholders’ equity)
Capital paid in (or share capital) 754,010,400.00 754,010,400.00
Capital reserves 139,590,345.09 139,590,345.09
Less: Shares in stock
Special reserves 17,202,228.98 17,276,201.15
Surplus reserves 583,824,678.05 583,824,678.05
Common risk provision
Retained profit 2,804,102,441.83 2,736,802,630.30
Different of foreign currency translation -565,611.05 -562,143.85
Total of owner’s equity belong to the parent company 4,298,164,482.90 4,230,942,110.74
Minor shareholders’ equity 380,807,067.64 380,677,958.00
Total of owners’ equity (or shareholders’ equity) 4,678,971,550.54 4,611,620,068.74
Total of liability and shareholders’ equity (or owners’ equity) 7,797,775,835.85 7,645,648,806.43
Legal representative: Nie Zhonghai Accounting supervisor: Pu Yangshuo Manager of financial dept.: Jiang Rong
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The 1st Quarterly Report 2014 (Full Text)
2. Balance Sheet of the Parent Company
Prepared by: Hangzhou Steam Turbine Co., Ltd
In RMB Yuan
Items Closing balance Opening balance
Current asset:
Monetary capital 347,002,647.98 295,292,983.14
Transactional financial assets
Notes receivable 454,354,077.63 601,340,832.00
Account receivable 1,741,227,530.20 1,788,860,441.94
Prepayment 180,994,326.42 142,783,696.27
Interest receivable
Dividend receivable
Other account receivable 32,746,411.22 25,065,309.78
Inventories 1,307,436,145.34 1,119,933,842.22
Non-current asset due in 1 year
Other current asset 74,000,000.00
Total of current asset 4,137,761,138.79 3,973,277,105.35
Non-current assets
Sellable financial asset
Expired investment in possess
Long-term receivable
Long-term share equity investment 949,669,204.90 949,669,204.90
Investment real estates
Fixed assets 304,887,152.77 316,182,652.53
Construction in process 130,929,629.93 124,088,852.72
Engineering goods
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 184,952,719.10 181,668,119.33
R&D expense
Goodwill
Long-term amortizable expenses
Deferred income tax asset 61,066,646.31 61,066,646.31
Other non-current asset
Total of non-current assets 1,631,505,353.01 1,632,675,475.79
Total of assets 5,769,266,491.80 5,605,952,581.14
Current liabilities
Short-term loans 260,000,000.00 260,000,000.00
Transactional financial liabilities
Notes payable
Account payable 533,528,208.28 469,018,283.68
Advances received 1,096,078,603.70 1,060,240,346.99
Employees’ wage payable 31,345,386.32 49,561,769.28
Tax payable 30,311,279.65 63,656,915.72
Interest payable
Dividend payable
Other account payable 34,844,739.69 31,407,616.90
Non-current liability due in 1 year
Other current liability
Total of current liability 1,986,108,217.64 1,933,884,932.57
Non-current liabilities
Long-term borrowings
Bond payable
Long-term payable
Special payable
Expected liabilities
Deferred income tax liability 1,017,473.05 1,017,473.05
Other non-recurring liabilities 443,785.00 200,250.00
Total of non-current liabilities 1,461,258.05 1,217,723.05
Total of liability 1,987,569,475.69 1,935,102,655.62
Owners’ equity (or shareholders’ equity)
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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 7,295,765.20 7,295,765.20
Surplus reserves 565,068,272.92 565,068,272.92
Common risk provision
Retained profit 2,316,369,327.90 2,205,522,237.31
Different of foreign currency translation
Total of owners’ equity (or shareholders’ equity) 3,781,697,016.11 3,670,849,925.52
Total of liability and shareholders’ equity (or owners’ equity) 5,769,266,491.80 5,605,952,581.14
Legal representative: Nie Zhonghai Accounting supervisor:Pu Yangshuo Manager of financial dept.: Jiang Rong
3. Consolidated Income Statement
Prepared by: Hangzhou Steam Turbine Co., Ltd
In RMB Yuan
Amount of the Current Amount of the
Items
Term Previous Term
I. Total revenue 655,138,863.63 909,859,334.71
Incl. Business income 655,138,863.63 909,859,334.71
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 560,742,359.39 797,962,351.32
Incl. Business cost 391,732,308.05 600,670,790.56
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 3,720,562.98 8,637,254.62
Sales expense 31,462,842.37 53,100,698.38
Administrative expense 124,346,685.97 129,458,699.90
Financial expenses 3,218,139.84 1,188,275.56
Asset impairment loss 6,261,820.18 4,906,632.30
Plus: Gains from fluctuation of fair value (“-“ for loss)
Investment gains (“-“ for loss) 2,925,017.77 32,512,645.45
Incl. Investment gains from affiliates
Gains from currency exchange (“-“ for loss)
III. Operation profit (“-“ for loss) 97,321,522.01 144,409,628.84
Plus: Non business income 1,498,702.14 1,033,068.08
Less: Non-business expenses 1,432,412.75 1,142,316.00
Incl. Loss from disposal of non-current assets
IV. Total profit (“-“ for total loss) 97,387,811.40 144,300,380.92
Less: Income tax expenses 19,944,830.49 21,367,773.50
V. Net profit (“-“ for net loss) 77,442,980.91 122,932,607.42
Including: Net profit realized by the entity taken over before the
takover
Net profit attributable to the owners of parent company 67,299,811.53 92,554,047.22
Minor shareholders’ equity 10,143,169.38 30,378,560.20
VI. Earnings per share: -- --
(I) Basic earnings per share 0.09 0.12
(II) Diluted earnings per share 0.09 0.12
VII. Other misc. incomes -8,142.86
VIII. Total of misc. incomes 77,434,838.05 122,932,607.42
Total of misc. incomes attributable to the owners of the parent
67,296,344.33 92,554,047.22
company
Total misc gains attributable to the minor shareholders 10,138,493.72 30,378,560.20
Legal representative: Nie Zhonghai Accounting supervisor: Pu Yangshuo Manager of financial dept.: Jiang Rong
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The 1st Quarterly Report 2014 (Full Text)
4. Income Statement of the Parent Co.
Prepared by: Hangzhou Steam Turbine Co., Ltd
In RMB Yuan
Items Amount of the Current Term Amount of the Previous Term
I. Turnover 445,588,115.28 699,823,033.65
Less: Operation cost 290,273,320.23 500,648,394.01
Business tax and surcharge 1,541,223.42 6,089,054.65
Sales expense 19,617,243.58 34,489,717.81
Administrative expense 72,253,243.64 82,242,657.28
Financial expenses 2,496,024.16 -1,187,732.76
Asset impairment loss 9,366,140.57 3,378,665.27
Plus: Gains from fluctuation of fair value (“-“ for loss)
Investment gains (“-“ for loss) 70,325,369.86 115,396,543.41
Incl. Investment gains from affiliates
II. Operational profit (“-“ for loss) 120,366,289.54 189,558,820.80
Plus: Non business income 1,044,088.00 52,532.33
Less: Non-business expenses 618,354.61 732,645.01
Incl. Loss from disposal of non-current assets
III. Total profit (“-“ for total loss) 120,792,022.93 188,878,708.12
Less: Income tax expenses 9,944,932.34 11,312,687.72
IV. Net profit (“-“ for net loss) 110,847,090.59 177,566,020.40
V. Earnings per share -- --
(I) Basic earnings per share 0.15 0.24
(II) Diluted earnings per share 0.15 0.24
VI. Other misc gains
VII. Total of integrated income 110,847,090.59 177,566,020.40
Legal representative: Nie Zhonghai Accounting supervisor: Pu Yangshuo Manager of financial dept.: Jiang Rong
5. Consolidated Cash Flow Statement
Prepared by: Hangzhou Steam Turbine Co., Ltd
In RMB Yuan
Items Amount of the Current Term Amount of the Previous Term
I. Net cash flow from business operation
Cash received from sales of products and providing
775,695,497.28 793,203,143.08
of 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 230,602.76 3,280,209.15
Other cash received from business operation 10,428,447.99 5,923,854.75
Sub-total of cash inflow from business activities 786,354,548.03 802,407,206.98
Cash paid for purchasing of merchandise and
375,814,946.10 413,506,393.39
services
Net increase of client trade and advance
Net increase of savings in central bank and brother
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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 173,692,153.65 177,759,115.47
Taxes paid 97,738,852.08 112,382,570.57
Other cash paid for business activities 42,151,254.54 -30,128,107.42
Sub-total of cash outflow from business activities 689,397,206.37 673,519,972.01
Cash flow generated by business operation, net 96,957,341.66 128,887,234.97
II. Cash flow generated by investing
Cash received from investment retrieving 10,000,000.00 137,602,269.95
Cash received as investment profit 2,925,017.77 54,679,874.06
Net cash retrieved from disposal of fixed assets,
233,500.00
intangible assets, and other long-term assets
Net cash received from disposal of subsidiaries or
-2,446,457.95
other operational units
Other investment-related cash received 140,000,000.00 100,000,000.00
Sub-total of cash inflow due to investment activities 153,158,517.77 289,835,686.06
Cash paid for construction of fixed assets,
33,626,244.04 25,183,236.34
intangible assets and other long-term assets
Cash paid as investment 30,000,000.00 108,000,000.00
Net increase of loan against pledge
Net cash received from subsidiaries and other
operational units
Other cash paid for investment activities 235,000,168.00 405,000,000.00
Sub-total of cash outflow due to investment activities 298,626,412.04 538,183,236.34
Net cash flow generated by investment -145,467,894.27 -248,347,550.28
III. Cash flow generated by financing
Cash received as investment
Incl. Cash received as investment from minor
shareholders
Cash received as loans 18,100,000.00 85,110,000.00
Cash received from bond placing
Other financing-related cash received
Subtotal of cash inflow from financing activities 18,100,000.00 85,110,000.00
Cash to repay debts 18,100,000.00 184,549,250.40
Cash paid as dividend, profit, or interests 12,088,990.45 74,254,928.87
Incl. Dividend and profit paid by subsidiaries to
minor shareholders
Other cash paid for financing activities
Subtotal of cash outflow due to financing activities 30,188,990.45 258,804,179.27
Net cash flow generated by financing -12,088,990.45 -173,694,179.27
IV. Influence of exchange rate alternation on cash and
206,160.71 -423,112.66
cash equivalents
V. Net increase of cash and cash equivalents -60,393,382.35 -293,577,607.24
Plus: Balance of cash and cash equivalents at the
883,141,568.17 1,100,640,580.62
beginning of term
VI. Balance of cash and cash equivalents at the end of
822,748,185.82 807,062,973.38
term
Legal representative: Nie Zhonghai Accounting supervisor: Pu Yangshuo Manager of financial dept.: Jiang Rong
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The 1st Quarterly Report 2014 (Full Text)
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 services 489,988,719.09 650,373,267.69
Tax returned
Other cash received from business operation 1,647,626.68 3,386,248.74
Sub-total of cash inflow from business activities 491,636,345.77 653,759,516.43
Cash paid for purchasing of merchandise and services 225,446,671.19 419,288,535.91
Cash paid to staffs or paid for staffs 121,153,009.55 137,476,175.32
Taxes paid 56,387,015.95 68,735,773.20
Other cash paid for business activities 16,622,635.48 12,247,810.31
Sub-total of cash outflow from business activities 419,609,332.17 637,748,294.74
Cash flow generated by business operation, net 72,027,013.60 16,011,221.69
II. Cash flow generated by investing
Cash received from investment retrieving
Cash received as investment profit 70,325,369.86 125,596,543.41
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 40,000,000.00 100,000,000.00
Sub-total of cash inflow due to investment activities 110,325,369.86 225,596,543.41
Cash paid for construction of fixed assets, intangible assets and other
14,285,828.69 19,161,273.59
long-term assets
Cash paid as investment
Net cash received from subsidiaries and other operational units
Other cash paid for investment activities 114,000,000.00 360,000,000.00
Sub-total of cash outflow due to investment activities 128,285,828.69 379,161,273.59
Net cash flow generated by investment -17,960,458.83 -153,564,730.18
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 2,370,000.01 665,000.00
Other cash paid for financing activities
Subtotal of cash outflow due to financing activities 2,370,000.01 100,665,000.00
Net cash flow generated by financing -2,370,000.01 -100,665,000.00
IV. Influence of exchange rate alternation on cash and cash equivalents 13,110.08 -497,589.77
V. Net increase of cash and cash equivalents 51,709,664.84 -238,716,098.26
Plus: Balance of cash and cash equivalents at the beginning of term 295,292,983.14 654,577,030.60
VI. Balance of cash and cash equivalents at the end of term 347,002,647.98 415,860,932.34
Legal representative: Nie Zhonghai Accounting supervisor: Pu Yangshuo Manager of financial dept.: Jiang Rong
II. Auditors’ Report
This 1st Quarterly Report is not audited.
Hangzhou Steam Turbine Co., Ltd.
Chairman of the Board: Nie Zhonghai
April 24, 2014
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