Hangzhou Steam Turbine Co., Ltd. Summary of the Semi-annual Report 2020
Stock Code: 200771 Stock ID: Hangqilun B Announcement No.:2020-46
Hangzhou Steam Turbine Co., Ltd.
Summary of the Semi-Annual Report 2020
（Stock Code: 200771）
August 2020
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Hangzhou Steam Turbine Co., Ltd. Summary of the Semi-annual Report 2020
I. Important notes
The summary is abstract from full-text of summary of the semi-annual report, for more details information ,
investors should found in the full-text of summary of the semi-annual report that published on website of
Shenzhen Stock Exchange and other website appointed by CSRC.
Non-standard auditor’s opinion
Not applicable
Plans for profit distribution on ordinary shares or conversion of capital reserves into share capital proposed to
the Board during the reporting period.
The Company will not distribute cash dividend or bonus shares, neither capitalizing of common reserves for
the report period.
Plans for profit distribution on preference shares for the reporting period approved by the Board
Not applicable
II. Basic information about the company
1. Company profile
Stock ID Hangqilun B Stock code 200771
Stock exchange for listing Shenzhen Stock Exchange
Contact person and contact manner Board secretary Securities affairs Representative
Name Li Guiwen Wang Caihua
Address No. 357 Shiqiao Rd. Hangzhou No. 357 Shiqiao Rd. Hangzhou
Tel 0571-85780058 0571-85780438
E-mail lgw@htc.cn wangch@htc.cn
2. Major accounting data and financial indicators
Retrospective adjustment to or restatement of the accounting data for prior years by the Company
No
Reporting period Same period of last year YoY+/-（%）
Operating income（yuan） 2,021,667,426.27 1,920,181,703.03 5.29%
Net profit attributable to the shareholders of the
listed company（yuan） 230,908,137.72 160,325,133.00 44.02%
Net profit after deducting of non-recurring gain/loss
attributable to the shareholders of listed company 165,508,020.80 131,574,189.68 25.79%
（yuan）
Cash flow generated by business operation, net
（yuan） 326,964,692.03 -9,340,596.37 3,600.47%
Basic earning per share(yuan/Share) 0.31 0.21 47.62%
Diluted gains per share(yuan/Share) 0.31 0.21 47.62%
Weighted average ROE(%) 3.53% 2.62% 0.91%
As at the end of the reporting
As at the end of last year YoY+/-（%）
period
Gross assets (yuan) 13,190,384,302.57 12,600,115,579.96 4.68%
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Hangzhou Steam Turbine Co., Ltd. Summary of the Semi-annual Report 2020
Net assets attributable to shareholders of the listed
company （yuan） 6,493,586,472.40 6,607,496,148.58 -1.72%
3.Statement of shares held by top 10 shareholders
In shares
Total number of common shareholders at the The total number of preferred shareholders voting rights
12,533 0
end of the reporting period restored at period-end（if any）
Shareholdings of the top 10 shareholders
Share Frozen or pledged
Properties of Conditional
Name of the shareholder proportion Total shares Status of Amou
shareholder shares
% shares nt
State-owned
Hangzhou Steam Turbine Power Group Co., Ltd. legal person 63.64% 479,824,800 479,824,800
VANGUARD TOTAL INTERNATIONAL STOCK INDEX Foreign legal
0.80% 6,036,036 0
FUND person
Domestic
Zhou Jie 0.58% 4,341,100 0
Natural person
VANGUARD EMERGING MARKETS STOCK INDEX Foreign legal
0.56% 4,198,304 0
FUND person
State-owned
China Merchants Securities (HK)Co., Ltd. 0.49% 3,705,777 0
legal person
Foreign legal
GUOTAI JUNAN SECURITIES(HONGKONG) LIMITED 0.49% 3,667,054 0
person
Foreign legal
ISHARES CORE MSCI EMERGING MARKETS ETF 0.41% 3,054,577 0
person
Foreign legal
NORGES BANK 0.33% 2,514,529 0
person
Domestic
Xia Zulin 0.31% 2,301,000 0
Natural person
Domestic
Gu Yang 0.20% 1,504,552 0
Natural person
(1) Hangzhou Steam Turbine Power Group Co., Ltd. is the holder of
state-shares of the Company, all other shareholders’ are holders of
domestic listed foreign shares (B shares)
(2) There is no relationship between Hangzhou Steam Turbine Power
Group Co., Ltd. and other shareholders;
Explanation on associated relationship among the aforesaid shareholders
(3) Hangzhou Steam Turbine Power Group Co., Ltd. is not an
“action-in-concert” party with any of other shareholders as described
by the “Administration Rules of Informational Disclosure about
Change of Shareholding Statues of PLCs”.
Notes to the shareholders involved in financing securities (if any) Not applicable
4. Changes of controlling shareholder or actual controller
Changes of controlling shareholder in reporting period
No change of controlling shareholder in reporting period.
Changes of actual controller in reporting period
No changes of actual controller in reporting period.
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Hangzhou Steam Turbine Co., Ltd. Summary of the Semi-annual Report 2020
5. Total preference shareholders and the shares held by the Top 10 Preference shareholders
The Company has no preferred shareholders.
6. Corporate bond
Whether the Company has a corporation bonds that issuance publicly and listed on stock exchange and without
due on the date when semi-annual report approved for released or fail to cash in full on due:
No
III. Discussion and analysis of operation
1. Business Operation summary in the reporting period
Whether the company needs to comply with the disclosure requirements of the particular industry
No
During reporting period, based on the annual work policy of "decisively relocate and rebuild, intensively study
market, develop culture-based company, and strive to be the first-class", while focusing on the prevention and
control of the pandemic, the company also promotes the relocation in an orderly manner to ensure production
capacity, execute precise marketing to grasp orders from key projects and emerging markets, continuously
research technology to make competitive products with craftsmanship spirit, and lead the company with culture
and drive it's growth through management improvement.
In the first half of 2020, the company realized operating income of 2021.6674 million yuan, total profit of
299.8415 million yuan and net profit of 269.296 million yuan, of which net profit attributable to shareholders of
listed companies was 230.9081 million yuan. Compared with the same period of last year, the operating income
increased by 5.29% year on year, total profit increased by 35.40% year on year, net profit increased by 45.83%
year on year, and net profit attributable to shareholders of listed companies increased by 44.02% year on year.
Good results have been achieved.1. Decisive relocation and rebuilding to ensure productivity
During the reporting period, the company lists relocation work as "Project No. 1", emphasizing on
construction and equipment relocation. The company started a full relocation on May 8, 2020. At present, major
production workshops such as stator workshop, rotor workshop, assembly workshop, joint workshop, and
distribution center have been relocated and the steam turbine no-load test bench is already equipped with on-site
commissioning capability. More than 100 sets of devices are relocated and enter into full installation and
commissioning stage.
2. Precise marketing and intensive market research
In petrochemical field, the company successfully signed 30 sets of devices for Shenghong Petrochemical
Group's large-scale refining and chemical integration project, and ethylene compressors with 1.2 million tons/year
capacity for SINOPEC Zhenhai Refining & Chemical Company. In coal chemical industry, the company signed
orders of 21 sets of steam turbines from Shanxi Coal and Chemical Group's 1.8 million tons of ethylene glycol
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Hangzhou Steam Turbine Co., Ltd. Summary of the Semi-annual Report 2020
project (Phase I). In new thermal power market, the company obtained air compressor contracts with Hengming
Chemical Fiber Company, Taiaisi Company and Xinzhonggang Company. Affected by the global pandemic, as the
company's main overseas client projects are in suspension or postponement, a total of 15 sets devices have been
ordered from overseas markets.
3. Continue to innovate and strive to be first-class
In reporting period, the company have overall established 22 new product development (5) and scientific
research projects (17). The company promoted the ethylene unit project of Zhenhai Refinery and Chemical as
planned, completed the trial production of the subcritical unit regulating-stage moving blade pin, and completed
technical development for Hong Kong Garbage Power Station, Dalian Hengli Flash Unit, Jieyang 1.4 million
tons/year ethylene cracking gas turbine, and Sanjiang ethylene unit, etc.
4. Develop culture-based company and improve management
The Company issued the "Corporate Culture Construction Implementation Outline for 2020-2022" to start the
corporate culture journey, promoted the solid implementation of corporate culture construction projects, and
continuously promoted the deep integration of corporate cultural soft power and corporate management hard
power. The Company continued to promote the MES system, the blade production management multi-system,
supply chain system,thetridimensional WMS system adoption application research, and the quality inspection
process information management and control research projects, and it continued to promote the construction of the
Company's industrial Internet application service platform, user service platform, and continuously improved the
Company’s Product "smart manufacturing" ability, comprehensively promoted the "lean production" and
continuously improved the "lean production" evaluation system.
2. Issues involve with financial reports
(1) Statement on changes of accounting policies, accounting estimations, and accounting basis comparing with the
last fiscal year
No Particulars about the changes in aspect of accounting policy estimates or calculation method in period.
(2) Statement on correcting of material accounting error and retrospective adjustment
No retrospective correction of material accounting error in the report period.
(3) Statement on change of consolidation range comparing with the previous fiscal year
The Company had no particular about the change of consolidation range compared in reporting period.
Hangzhou Steam turbine Co., Ltd.
Board chairman: Zheng Bin
August 27,2020
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