Stock Code: 200771           Stock ID: Hangqilun B         Announcement No.: 2021-10




Announcement of 2020 Preliminary Earnings Estimate of Hangzhou
                                     Steam Turbine Co., Ltd.


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.


Special Notice: This announcement contained only the preliminary 2020 annual financial data,
which is without audited; it may have difference between the final disclosed data. Investors please
do concern the investment risk.

Ⅰ. Highlights of accounting data and financial index of 2020 annual year.
                                                                                         In RMB 10，000
                                                            Same period of the     Changed over last year
              Items                For this report period
                                                              previous year               （％）

     Total Operating profit                  449,644.52             427,984.85                      5.06%
        Operation profit                       61,212.37              51,811.93                    18.14%
          Total profit                         62,093.30             47,738.08                     30.07%
  Net profit attributable to the
   shareholders of the listed                  45,934.54             34,513.81                     33.09%
            company

  Basic gains per share(RMB)                         0.62                   0.46                   34.78%
  Weighted average net asset
                                                  6.24%                  5.48%                      0.76%
       earnings ratio (%)
                                                                                   Changed over last year
                                       End of 2020            End of 2019
                                                                                          （％）

          Gross assets                     1,539,265.39            1,260,011.56                    22.16%
     Shareholders’ equity
  attributable to shareholders               810,478.89             660,749.61                     22.66%
     of the listed company

         Capital stock                         75,401.04             75,401.04                      0.00%
      Net asset per share
  attributable to shareholders                     11.04                    8.76                   26.03%
  of the listed company(RMB)
      Note：
      1. The company fills in the column with the data of consolidated statements.
      2. During the reporting period, the company implemented share repurchase, and the
repurchased shares were treasury shares, which were deducted from the share capital when
calculating the earnings per share, weighted average return on net assets and net assets per share in
the reporting period.
      II. Description of operating performance and financial status
      1. Operating conditions, financial status and main factors affecting operating
performance during the reporting period
     In 2020, the company achieved operating income of RMB 4.496 billion, with a year-on-year
increase of 5.06%; The net profit attributable to shareholders of listed companies was RMB 459
million, with a year-on-year increase of 33.09%. The increase in operating income was mainly due
to the increase in sales of auxiliary machines and accessories.
      2. The main reasons for the fact that the increase or decrease of the relevant items in
the above table is more than 30%
     The main reasons for the year-on-year increase in total profit、net profit and basic earnings
per share are: the increase in sales revenue and gross profit margin leads to an increase in sales
gross profit; When the company litigation dispute is closed, the estimated liabilities accrued in the
previous period will be reversed in the current period.
      II1. Explanation of difference from previous performance forecast
     There is no previous performance forecast in the company.
     IV. Analysis of reasons for performance leakage and stock price changes
     Not applicable。
V.Other notes

     None.



The Board of Directors of Hangzhou Steam Turbine Co., Ltd.
April 10,2021