Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2014 (Full Text)
Stock Code: 200771 Stock ID: Hangqilun B Announcement No. 2014-40
Hangzhou Steam Turbine Co., Ltd.
The 3rd 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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Hangzhou Steam Turbine Co., Ltd. The 3rd 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
Ended this report Changed at end of report period over end of
End of prev. year
term previous period
Gross Assets (RMB) 7,567,407,579.21 7,645,648,806.43 -1.02%
Net asset attributable to
4,264,229,058.12 4,230,942,110.74 0.79%
owners of the PLC
The amount of from
beginning of year to
From beginning of
Increase/decrease the end of report
This report term year to the end of
(%) period over the
report period
amount of same period
last year
Turnover (RMB) 706,544,529.11 -50.70% 2,449,907,171.38 -29.05%
Net profit attributable to
shareholders of the listed -12,209,753.03 -105.27% 183,965,097.98 -60.41%
company (yuan)
Net profit attributable to the
shareholders of the listed
company and after deducting -15,815,908.84 -106.83% 165,598,183.52 -63.33%
of non-recurring
gain/loss(RMB)
Net Cash flow generated by
-- -- 210,768,345.76 25.83%
business operation (RMB)
Basic earnings per share
-0.0162 -105.28% 0.244 -60.40%
(Yuan/share)
Diluted earnings per share
-0.0162 -105.28% 0.244 -60.40%
(Yuan/share)
Net income on asset,
-0.29% -104.91% 4.31% -62.84%
weighted
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Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2014 (Official Text)
Non-recurring gain/loss items and amounts
In RMB Yuan
Amount from the
Items beginning to the end Remarks
of term
Gain/loss from disposal of non-current assets (includes the recovered part
226,881.76
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
4,508,789.53
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
13,329,640.61
liabilities and sellable financial assets, other than valid period value
instruments related to the Company’s common businesses
Other non-business income and expenditures other than the above 5,452,449.87
Less: Influenced amount of income tax 3,524,369.67
Influence on minority shareholders’ equity (after tax) 1,626,477.64
Total 18,366,914.46 --
None of non-recurring gain/loss items recognized as recurring gain/loss items as defined by the Information
Disclosure Explanatory Announcement No.1 – Non-recurring gain/loss in the report period.
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Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2014 (Official Text)
II. Total of shareholders and top-10 shareholders at end of period
1 Position of shareholders and top-10 holders at end of the report period In shares
Total common shareholders at the end of
18963
the report period
Top 10 common share holders
Frozen or
Amount of
Properties of Share Amount of pledged
Name of the shareholder unconditional shares
shareholder proportion % shares Status of
held Amount
shares
Hangzhou Steam Turbine Power Group State-owned
63.64% 479,824,800 479,824,800
Co., Ltd. legal person
Overseas legal
NORGES BANK 0.82% 6,148,775 0
person
Overseas legal
GIC PRIVATE LIMITED 0.35% 2,665,330 0
person
Overseas legal
AUSTRALIANSUPER PTY LTD 0.28% 2,108,321 0
person
Domestic
Xia Zulin 0.27% 2,013,200 0
natural person
BOCHK INVESTMENT
Overseas legal
FUNDS-BOCHK CHINA GOLDEN 0.27% 2,000,344 0
person
DRAGON FUND
GUOTAI JUNAN Overseas legal
0.25% 1,887,049 0
SECURITIES(HONGKONG) LIMITED person
Domestic
Zhu Guanhong 0.25% 1,882,540 0
natural person
VANGUARD TOTAL
Overseas legal
INTERNATIONAL STOCK INDEX 0.24% 1,839,436 0
person
FUND
Overseas legal
KGI ASIA LIMITED 0.23% 1,765,389 0
person
Top 10 Holders of Unrestricted Shares
Number of Category of shares
Name of the shareholder unrestricted shares
Category of shares Amount
held
NORGES BANK 6,148,775 Foreign shares placed in domestic exchange 6,148,775
GIC PRIVATE LIMITED 2,665,330 Foreign shares placed in domestic exchange 2,665,330
AUSTRALIANSUPER PTY LTD 2,108,321 Foreign shares placed in domestic exchange 2,108,321
Xia Zulin 2,013,200 Foreign shares placed in domestic exchange 2,013,200
BOCHK INVESTMENT
FUNDS-BOCHK CHINA GOLDEN 2,000,344 Foreign shares placed in domestic exchange 2,000,344
DRAGON FUND
GUOTAI JUNAN
1,887,049 Foreign shares placed in domestic exchange 1,887,049
SECURITIES(HONGKONG) LIMITED
Zhu Guanhong 1,882,540 Foreign shares placed in domestic exchange 1,882,540
VANGUARD TOTAL
INTERNATIONAL STOCK INDEX 1,839,436 Foreign shares placed in domestic exchange 1,839,436
FUND
KGI ASIA LIMITED 1,765,389 Foreign shares placed in domestic exchange 1,765,389
Fu Shuying 1,276,180 Foreign shares placed in domestic exchange 1,276,180
(1) There is not any relationship between Hangzhou Steam Turbine Group Power Group
Co., Ltd. and other shareholders; (3) It is unknown whether there is any relationship
Notes to relationship or “action in
among the 10 unrestricted current-share holders. (3) None of HSTG or other shareholders
concert” among the top ten shareholders. is acting-in-concert as described by Administration Rules of Information Disclosure on
Change of Shareholding Position
No agreed repurchasing trade by shareholders in the report period
2. Total of shareholders and top-10 preferential shareholders at end of the report period: Not applicable
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Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2014 (Official Text)
Chapter III. Significant Issues
I. Particulars and causations of material change in major accounting items and indices
Scale of
Balance Sheet Items End of term Beginning of term Remarks on the change
change
Mainly returning of loans and change of financial
Monetary capital 448,104,748.45 883,141,568.17 -49.26% instruments
Notes receivable 607,303,635.55 921,474,660.68 -34.09% Mainly due and transferring of notes
Other account receivable 45,923,077.08 31,299,637.50 46.72% Mainly increase of custom deposits
Inventories 2,025,686,008.51 1,522,662,268.44 33.04% Mainly increase of goods in stock at end of period
Other current asset 512,041,753.62 318,647,045.27 60.69% Mainly increase of financial instruments
Mainly booking of land property by Steam Turbine
Intangible assets 307,687,077.78 225,562,108.26 36.41% Heavy Industry Co., one of the subsidiaries, in the
period
Mainly transferring of land property under Heavy
Other non-current asset 66,500,000.00 -100.00% Industry Co. to intangible assets
Short-term loans 216,900,000.00 376,900,000.00 -42.45% Mainly returning of bank loans by the parent co.
Mainly decrease of notes issued by the subsidiaries
Notes payable 92,257,335.70 168,751,198.95 -45.33% in the period
Mainly decrease of sales, and the VAT and income
Tax payable 28,820,706.96 107,956,056.99 -73.30% tax payable in the 4th quarter of last year was great
Income Statement Same period of last Scale of Remarks on the change
Current term
Items term change
Mainly decrease of sales and reducing of costs by
1,501,106,574.52 2,306,739,124.63 -34.93% accounting of R&D by the parent co.
Operation cost
Mainly increase of interest expenses and exchange
13,514,406.60 2,769,682.15 387.94% gains by parent co.
Financial expenses
Mainly change in account age structure and increase
Asset impairment loss 107,639,925.91 23,286,159.94 362.25% of impairment provision drawn
Mainly the great gains of Zhongneng Co. from
37,778,981.98 67,805,353.37 -44.28% disposal of equity investment in the Group Packaged
Investment income Co. in the same period of last year
Mainly compensations gained for termination of
Non-operational income 12,838,708.67 5,263,886.21 143.90% contracts
Mainly decrease of net profit of subsidiaries YoY,
Minor shareholders’
46,198,204.89 74,698,515.76 -38.15% and decreasing of shareholding by minority
equity shareholders of subsidiaries
Cash Flow Statement Same period of last Scale of Remarks on the change
Current term
Items term change
Net cash flow generated Mainly decrease of cash received from purchasing of
-239,012,783.71 50,314,770.97 -575.04% financial instruments
by investment
Net increasing of cash Mainly decrease of net cash flow from investment
-307,872,522.20 -41.09% activities
and cash equivalents -434,376,078.12
II. Position and impact of major issues and analysis of solutions:
Not applicable
III. There is no commitment issues by shareholders with 5% or over of the Company’s shares
occurred in the report period or carried over from previous period.
IV. Prospect on the business performance of year 2014
Not applicable
V. Securities investment
No securities investment in the report period.
VI. Investment in derivate instruments
No derivate instrument investment in the report period.
VII. Reception of investigation, communication, or visiting in report period
No investigation, communication, or visiting occurred in report period.
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Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2014 (Official 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 448,104,748.45 883,141,568.17
Settlement provision
Outgoing call loan
Financial assets accounted at fair value and fluctuation accounted into
current income
Notes receivable 607,303,635.55 921,474,660.68
Account receivable 2,046,457,273.37 2,116,165,121.01
Prepayment 224,736,352.23 221,002,418.39
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Interest receivable
Dividend receivable
Other account receivable 45,923,077.08 31,299,637.50
Repurchasing of financial assets
Inventories 2,025,686,008.51 1,522,662,268.44
Categorized as asset hold for sale
Non-current asset due in 1 year
Other current asset 512,041,753.62 318,647,045.27
Total of current asset 5,910,252,848.81 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 491,729,826.87 472,349,826.87
Investment real estates
Fixed assets 557,591,205.04 609,425,345.52
Construction in process 198,487,455.90 166,904,606.60
Engineering goods
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 307,687,077.78 225,562,108.26
R&D expense
Goodwill
Long-term amortizable expenses 36,748.58 36,748.58
Deferred income tax asset 101,622,416.23 90,477,451.14
Other non-current asset 66,500,000.00
Total of non-current assets 1,657,154,730.40 1,631,256,086.97
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Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2014 (Official Text)
Total of assets 7,567,407,579.21 7,645,648,806.43
Current liabilities
Short-term loans 216,900,000.00 376,900,000.00
Loan from Central Bank
Deposit received and hold for others
Call loan received
Financial liabilities booked as current gain/loss at fair value
Notes payable 92,257,335.70 168,751,198.95
Account payable 968,573,408.85 778,441,385.31
Advances received 1,529,481,032.98 1,480,588,499.90
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable 74,000,639.09 63,401,599.09
Tax payable 28,820,706.96 107,956,056.99
Interest payable
Dividend payable
Other account payable 33,600,691.23 46,941,539.40
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Liabilities categorized as hold for sale
Non-current liability due in 1 year
Other current liability
Total of current liability 2,943,633,814.81 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 9,854,167.00 9,700,985.00
Total of non-current liabilities 11,201,640.05 11,048,458.05
Total of liability 2,954,835,454.86 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 17,170,102.10 17,276,201.15
Surplus reserves 583,824,678.05 583,824,678.05
Common risk provision
Retained profit 2,769,965,648.28 2,736,802,630.30
Different of foreign currency translation -332,115.40 -562,143.85
Total of owner’s equity belong to the parent company 4,264,229,058.12 4,230,942,110.74
Minor shareholders’ equity 348,343,066.23 380,677,958.00
Total of owners’ equity (or shareholders’ equity) 4,612,572,124.35 4,611,620,068.74
Total of liability and shareholders’ equity (or owners’ equity) 7,567,407,579.21 7,645,648,806.43
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Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2014 (Official Text)
Legal representative: Nie Zhonghai Accounting supervisor: Pu Yangshuo Manager of financial dept.:
Jiang Rong
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 225,766,064.98 295,292,983.14
Financial assets accounted at fair value and fluctuation accounted into
current income
Notes receivable 327,650,783.85 601,340,832.00
Account receivable 1,719,350,042.29 1,788,860,441.94
Prepayment 88,152,632.57 142,783,696.27
Interest receivable
Dividend receivable
Other account receivable 45,698,026.90 25,065,309.78
Inventories 1,601,046,261.03 1,119,933,842.22
Categorized as asset hold for sale
Non-current asset due in 1 year
Other current asset 100,000,000.00
Total of current asset 4,107,663,811.62 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 279,239,085.14 316,182,652.53
Construction in process 141,117,850.74 124,088,852.72
Engineering goods
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 184,615,554.69 181,668,119.33
R&D expense
Goodwill
Long-term amortizable expenses
Deferred income tax asset 66,600,704.59 61,066,646.31
Other non-current asset
Total of non-current assets 1,621,242,400.06 1,632,675,475.79
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Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2014 (Official Text)
Total of assets 5,728,906,211.68 5,605,952,581.14
Current liabilities
Short-term loans 100,000,000.00 260,000,000.00
Financial liabilities booked as current gain/loss at fair value
Notes payable
Account payable 666,012,828.28 469,018,283.68
Advances received 1,089,397,713.38 1,060,240,346.99
Employees’ wage payable 56,277,973.03 49,561,769.28
Tax payable 3,105,115.81 63,656,915.72
Interest payable
Dividend payable
Other account payable 22,652,960.97 31,407,616.90
Liabilities categorized as hold for sale
Non-current liability due in 1 year
Other current liability
Total of current liability 1,937,446,591.47 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 353,432.00 200,250.00
Total of non-current liabilities 1,370,905.05 1,217,723.05
Total of liability 1,938,817,496.52 1,935,102,655.62
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 7,295,765.20 7,295,765.20
Surplus reserves 565,068,272.92 565,068,272.92
Common risk provision
Retained profit 2,324,761,026.95 2,205,522,237.31
Different of foreign currency translation
Total of owners’ equity (or shareholders’ equity) 3,790,088,715.16 3,670,849,925.52
Total of liability and shareholders’ equity (or owners’ equity) 5,728,906,211.68 5,605,952,581.14
Legal representative: Nie Zhonghai Accounting supervisor: Pu Yangshuo Manager of financial dept.:
Jiang Rong
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Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2014 (Official Text)
3. Consolidated Income Statement of the Report Period
Prepared by: Hangzhou Steam Turbine Co., Ltd
In RMB Yuan
Amount of the Amount of the
Items
Current Term Previous Term
I. Total revenue 706,544,529.11 1,433,030,061.77
Incl. Business income 706,544,529.11 1,433,030,061.77
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 705,484,827.53 1,137,435,503.14
Incl. Business cost 426,659,724.36 956,705,213.47
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 3,132,113.23 9,643,444.05
Sales expense 40,281,485.15 45,535,606.35
Administrative expense 178,682,753.46 124,632,553.55
Financial expenses 4,311,919.88 1,227,627.22
Asset impairment loss 52,416,831.45 -308,941.50
Plus: Gains from change of fair value (“-“ for loss)
Investment gains (“-“ for loss) 4,110,745.22 3,109,284.61
Incl. Investment gains from affiliates
Gains from currency exchange (“-“ for loss)
III. Operation profit (“-“ for loss) 5,170,446.80 298,703,843.24
Plus: non-operational income 644,378.96 1,061,195.58
Less: non-operational expenditure 1,449,834.18 1,986,788.58
Incl. Loss from disposal of non-current assets
IV. Total profit (“-“ for total loss) 4,364,991.58 297,778,250.24
Less: Income tax expenses 1,903,773.35 47,226,269.36
V. Net profit (“-“ for net loss) 2,461,218.23 250,551,980.88
Including: Net profit realized by the entity taken over before
the takeover
Net profit attributable to the owners of parent company -12,209,753.03 231,707,861.66
Minor shareholders’ equity 14,670,971.26 18,844,119.22
VI. Earnings per share: -- --
(I) Basic earnings per share -0.0162 0.307
(II) Diluted earnings per share -0.0162 0.307
VII. Other misc. incomes -211,118.68 0.00
Incl. Other misc. gains unable to be relocated to income account in
-211,118.68
succeeding fiscal period
Other misc. gains able to be relocated to income account in
succeeding fiscal period when certain conditions are satisfied
VIII. Total of misc. incomes 2,250,099.55 250,551,980.88
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Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2014 (Official Text)
Total of misc. incomes attributable to the owners of the parent
-12,299,646.52 231,707,861.66
company
Total misc gains attributable to the minor shareholders 14,549,746.07 18,844,119.22
Legal representative: Nie Zhonghai Accounting supervisor: Pu Yangshuo Manager of financial dept.:
Jiang Rong
4. Income Statement (Parent Co.) of the Report Period
Prepared by: Hangzhou Steam Turbine Co., Ltd
In RMB Yuan
Amount of the Amount of the
Items
Current Term Previous Term
I. Turnover 443,746,680.14 993,137,360.52
Less: Operation cost 295,827,680.15 640,789,724.23
Business tax and surcharge 147,931.96 8,106,389.98
Sales expense 25,112,415.75 32,222,574.42
Administrative expense 116,945,798.30 71,951,158.89
Financial expenses 3,148,783.60 -9,088.82
Asset impairment loss 39,732,317.21 -3,163,606.33
Plus: Gains from fluctuation of fair value (“-“ for loss)
Investment gains (“-“ for loss) 619,989.06 2,748,325.71
Incl. Investment gains from affiliates
II. Operational profit (“-“ for loss) -36,548,257.77 245,988,533.86
Plus: Non business income 496,938.53 225,778.58
Less: Non-business expenses 743,746.68 1,041,807.70
Incl. Loss from disposal of non-current assets
III. Total profit (“-“ for total loss) -36,795,065.92 245,172,504.74
Less: Income tax expenses -5,534,058.28 36,775,875.70
IV. Net profit (“-“ for net loss) -31,261,007.64 208,396,629.04
V. Earnings per share -- --
(I) Basic earnings per share -0.0415 0.2764
(II) Diluted earnings per share -0.0415 0.2764
VI. Other misc gains
Incl. Other misc. gains unable to be relocated to income account in
succeeding fiscal period
Other misc. gains able to be relocated to income account in
succeeding fiscal period when certain conditions are satisfied
VII. Total of integrated income -31,261,007.64 208,396,629.04
Legal representative: Nie Zhonghai Accounting supervisor: Pu Yangshuo Manager of financial dept.: Jiang Rong
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Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2014 (Official Text)
5. Consolidated Income Statement (Jan. 1 – end of the report period)
Prepared by: Hangzhou Steam Turbine Co., Ltd
In RMB Yuan
Amount of the Amount of the
Items
Current Term Previous Term
I. Total revenue 2,449,907,171.38 3,452,775,892.69
Incl. Business income 2,449,907,171.38 3,452,775,892.69
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 2,222,781,370.80 2,884,707,303.20
Incl. Business cost 1,501,106,574.52 2,306,739,124.63
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 14,558,787.17 27,012,783.00
Sales expense 108,479,459.34 137,573,060.91
Administrative expense 477,482,217.26 387,326,492.57
Financial expenses 13,514,406.60 2,769,682.15
Asset impairment loss 107,639,925.91 23,286,159.94
Plus: Gains from change of fair value (“-“ for loss)
Investment gains (“-“ for loss) 37,778,981.98 67,805,353.37
Incl. Investment gains from affiliates
Gains from currency exchange (“-“ for loss)
III. Operation profit (“-“ for loss) 264,904,782.56 635,873,942.86
Plus: non-operational income 12,838,708.67 5,263,886.21
Less: non-operational expenditure 6,002,486.34 6,897,884.22
Incl. Loss from disposal of non-current assets
IV. Total profit (“-“ for total loss) 271,741,004.89 634,239,944.85
Less: Income tax expenses 41,577,702.02 94,907,343.05
V. Net profit (“-“ for net loss) 230,163,302.87 539,332,601.80
Including: Net profit realized by the entity taken over before
the takeover
Net profit attributable to the owners of parent company 183,965,097.98 464,634,086.04
Minor shareholders’ equity 46,198,204.89 74,698,515.76
VI. Earnings per share: -- --
(I) Basic earnings per share 0.244 0.6162
(II) Diluted earnings per share 0.244 0.6162
VII. Other misc. incomes 540,231.59 0.00
Incl. Other misc. gains unable to be relocated to income account in
540,231.59
succeeding fiscal period
Other misc. gains able to be relocated to income account in
succeeding fiscal period when certain conditions are satisfied
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Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2014 (Official Text)
VIII. Total of misc. incomes 230,703,534.46 539,332,601.80
Total of misc. incomes attributable to the owners of the parent
184,195,126.43 464,634,086.04
company
Total misc gains attributable to the minor shareholders 46,508,408.03 74,698,515.76
Legal representative: Nie Zhonghai Accounting supervisor: Pu Yangshuo Manager of financial dept.:
Jiang Rong
6. Income Statement (Parent Co.) (Jan. 1 – end of report period)
Prepared by: Hangzhou Steam Turbine Co., Ltd
In RMB Yuan
Amount of the Amount of the
Items
Current Term Previous Term
I. Turnover 1,645,224,984.09 2,500,255,851.39
Less: Operation cost 1,077,000,448.16 1,718,472,918.62
Business tax and surcharge 6,188,669.35 20,493,560.05
Sales expense 67,650,712.32 93,337,423.68
Administrative expense 302,983,112.05 241,403,148.89
Financial expenses 11,235,672.66 -880,744.76
Asset impairment loss 88,881,876.60 13,749,891.62
Plus: Gains from fluctuation of fair value (“-“ for loss)
Investment gains (“-“ for loss) 196,472,798.54 179,246,988.27
Incl. Investment gains from affiliates
II. Operational profit (“-“ for loss) 287,757,291.49 592,926,641.56
Plus: Non business income 1,541,026.53 1,128,154.91
Less: Non-business expenses 3,231,719.44 4,893,263.72
Incl. Loss from disposal of non-current assets
III. Total profit (“-“ for total loss) 286,066,598.58 589,161,532.75
Less: Income tax expenses 16,025,728.94 62,958,558.54
IV. Net profit (“-“ for net loss) 270,040,869.64 526,202,974.21
V. Earnings per share -- --
(I) Basic earnings per share 0.3581 0.6979
(II) Diluted earnings per share 0.3581 0.6979
VI. Other misc gains
Incl. Other misc. gains unable to be relocated to income account in
succeeding fiscal period
Other misc. gains able to be relocated to income account in
succeeding fiscal period when certain conditions are satisfied
VII. Total of integrated income 270,040,869.64 526,202,974.21
Legal representative: Nie Zhonghai Accounting supervisor: Pu Yangshuo Manager of financial dept.: Jiang Rong
13
Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2014 (Official Text)
7. Cash Flow Statement (Consolidated)(Jan. 1 – end of report period)
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
2,249,496,848.88 2,699,496,763.68
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 727,421.29 8,029,266.19
Other cash received from business operation 11,400,718.81 18,655,038.67
Sub-total of cash inflow from business activities 2,261,624,988.98 2,726,181,068.54
Cash paid for purchasing of merchandise and services 1,142,505,900.71 1,666,054,955.86
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 483,472,204.24 500,863,380.86
Taxes paid 263,554,947.64 336,258,666.65
Other cash paid for business activities 161,323,590.63 55,497,556.07
Sub-total of cash outflow from business activities 2,050,856,643.22 2,558,674,559.44
Cash flow generated by business operation, net 210,768,345.76 167,506,509.10
II. Cash flow generated by investing
Cash received from investment retrieving 28,992,921.48
Cash received as investment profit 37,778,981.98 90,335,486.98
14
Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2014 (Official Text)
Net cash retrieved from disposal of fixed assets, intangible
1,143,341.52 124,157.69
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 1,506,500,000.00 2,148,610,000.00
Sub-total of cash inflow due to investment activities 1,545,422,323.50 2,265,616,108.20
Cash paid for construction of fixed assets, intangible assets
64,653,546.21 99,679,971.54
and other long-term assets
Cash paid as investment 19,380,000.00 17,619,786.63
Net increase of loan against pledge
Net cash received from subsidiaries and other operational
units
Other cash paid for investment activities 1,700,401,561.00 2,098,001,579.06
Sub-total of cash outflow due to investment activities 1,784,435,107.21 2,215,301,337.23
Net cash flow generated by investment -239,012,783.71 50,314,770.97
III. Cash flow generated by financing
Cash received as investment 1,989,626.40
Incl. Cash received as investment from minor shareholders
Cash received as loans 113,100,000.00 195,510,000.00
Cash received from bond placing
Other financing-related cash received
Subtotal of cash inflow from financing activities 115,089,626.40 195,510,000.00
Cash to repay debts 279,040,000.00 309,949,250.40
Cash paid as dividend, profit, or interests 242,572,577.84 409,632,833.71
Incl. Dividend and profit paid by subsidiaries to minor
shareholders
Other cash paid for financing activities
Subtotal of cash outflow due to financing activities 521,612,577.84 719,582,084.11
Net cash flow generated by financing -406,522,951.44 -524,072,084.11
IV. Influence of exchange rate alternation on cash and cash
391,311.27 -1,621,718.16
equivalents
V. Net increase of cash and cash equivalents -434,376,078.12 -307,872,522.20
Plus: Balance of cash and cash equivalents at the beginning
883,141,568.17 1,100,640,580.62
of term
VI. Balance of cash and cash equivalents at the end of term 448,765,490.05 792,768,058.42
Legal representative: Nie Zhonghai Accounting supervisor: Pu Yangshuo Manager of financial dept.: Jiang Rong
8. Cash Flow Statement (Parent Co.)(Jan. 1 – end of report period)
Prepared by: Hangzhou Steam Turbine Co., Ltd
15
Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2014 (Official Text)
In RMB Yuan
Amount of the Current Amount of the
Items
Term Previous Term
I. Net cash flow from business operation
Cash received from sales of products and providing of
1,511,986,900.40 1,828,493,361.61
services
Tax returned 495,978.53 1,231,582.69
Other cash received from business operation 2,919,304.73 5,096,003.37
Sub-total of cash inflow from business activities 1,515,402,183.66 1,834,820,947.67
Cash paid for purchasing of merchandise and services 764,505,559.08 1,149,639,225.24
Cash paid to staffs or paid for staffs 340,242,709.56 357,461,704.02
Taxes paid 141,456,732.73 204,242,739.04
Other cash paid for business activities 82,644,685.61 187,650,940.94
Sub-total of cash outflow from business activities 1,328,849,686.98 1,898,994,609.24
Cash flow generated by business operation, net 186,552,496.68 -64,173,661.57
II. Cash flow generated by investing
Cash received from investment retrieving
Cash received as investment profit 196,472,798.54 189,446,988.27
Net cash retrieved from disposal of fixed assets, intangible
122,000.00
assets, and other long-term assets
Net cash received from disposal of subsidiaries or other
operational units
Other investment-related cash received 408,000,000.00 1,830,000,000.00
Sub-total of cash inflow due to investment activities 604,472,798.54 2,019,568,988.27
Cash paid for construction of fixed assets, intangible assets
33,205,930.34 87,268,824.09
and other long-term assets
Cash paid as investment 3,798,261.63
Net cash received from subsidiaries and other operational
units
Other cash paid for investment activities 508,000,000.00 1,730,000,000.00
Sub-total of cash outflow due to investment activities 541,205,930.34 1,821,067,085.72
Net cash flow generated by investment 63,266,868.20 198,501,902.55
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 160,000,000.00 100,000,000.00
Cash paid as dividend, profit, or interests 159,170,746.67 302,269,159.99
Other cash paid for financing activities
Subtotal of cash outflow due to financing activities 319,170,746.67 402,269,159.99
Net cash flow generated by financing -319,170,746.67 -402,269,159.99
IV. Influence of exchange rate alternation on cash and cash
-175,536.37 -1,572,362.52
equivalents
V. Net increase of cash and cash equivalents -69,526,918.16 -269,513,281.53
Plus: Balance of cash and cash equivalents at the beginning of
295,292,983.14 654,577,030.60
term
VI. Balance of cash and cash equivalents at the end of term 225,766,064.98 385,063,749.07
Legal representative: Nie Zhonghai Accounting supervisor: Pu Yangshuo Manager of financial dept.:
Jiang Rong
16
Hangzhou Steam Turbine Co., Ltd. The 3rd Quarterly Report 2014 (Official Text)
II. Auditors’ Report
The 3rd quarterly report has not been audited.
Hangzhou Steam Turbine Co., Ltd.
Chairman of the Board: Nie Zhonghai
October 28, 2014
17
