Stock Code: 200771           Stock ID: Hangqilun B    Announcement No.: 2020-70



                    Hangzhou Steam Turbine Co., Ltd.
 Announcement of Changes in the Proportion of Controlling Shareholders held
                        by the Actual Controller


 The members of the Board and the Company acknowledge being responsible for the truthfulness,

accuracy, and completeness of the announcement. Not any false record, misleading statement or

significant omission carried in this announcement.


     On November 30, 2020, the Company received the "Notice on the Completion of Transfer of
Part Equity of Hangzhou Steam Turbine Power Group Co., Ltd" from the Company’s controlling s
hareholder Hangzhou Steam Turbine Power Group Co., Ltd. The notice stated that "upon the Noti
ce on matters concerning the transfer of some state-owned equity of Hangzhou Steam Turbine Po
wer Group’ (No. 91-[2020] Hangguo State-owned Assets), the 10% state-owned equity of Hangzh
ou Steam Turbine Group held by the Hangzhou SASAC has been transferred to Zhejiang Finance
Development Co., Ltd in free". As of the date of this announcement, Hangzhou Steam Turbine Gr
oup has completed the industrial and commercial change registration and the industrial and comm
ercial filing registration.
     After the completion of this change, the shareholding situation of the Company's actual contr
oller and the controlling shareholder is as follows:



               杭州市国资委                                浙江省财务开发有限责任公司



                         90%                                   10%

                                   杭州汽轮动力集团有限公司


                                          63.64%

                                    杭州汽轮机股份有限公司



Although the shareholding ratio of the controlling shareholder held by the actual controller of the
Company has changed, the actual controller and the controlling shareholder of the Company remai
n unchanged. The change in the shareholding ratio of the controlling shareholder held by the actua
l controller of the Company will not have a substantial impact on corporate governance.

    This announcement is hereby made.




The Board of Directors of Hangzhou Steam Turbine Co., Ltd.

December 1, 2020