Stock Code: 200771         Stock ID: Hangqilun B             Announcement No.: 2021-11



                                   Hangzhou Steam Turbine Co., Ltd.

                           Performance Prospect for the First Quarter of 2021



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.



      I. Forecast of business performance of the current term

       1. Period of the prospect: January 1，2021 to March 31, 2021


2. Estimated earnings: Losses √Turning losses into profits                        Year-on-Year increase
Year-on-Year decrease


      3.Performance forecast table
                                                                                          Same period of the
            Items                             For this report period                      previous year

                             Earnings：145.36 million yuan–177.66million yuan
Net profit attributable to
                                 Increased over the same period of last year：       Losses：15.52 million yuan
the shareholders of the
listed company                   1036.60% - 1244.72%


Basic earnings per share         Earnings： 0.20 yuan/Share-0.24yuan/Share           Losses：0.02 yuan/Share

     II. Pre-audit of estimated earnings

     The estimated earnings have not been pre-audited by certified public accountants.

      III. Causation of change in business performance
      1. In the first quarter of 2020, due to the impact of the “new corona-virus epidemic”, the Com
pany and upstream and downstream enterprises in the industry delayed the resumption of work an
d production, and the delivery of customer orders was affected, resulting in losses in the same peri
od last year. In the first quarter of 2021, the Company’s operations and the delivery of orders of up
stream and downstream customers have basically recovered. During the reporting period, the Com
pany’s sales scale and profitability have achieved substantial growth.
2. The gas turbine contract for the Huo’qiu project was terminated with Sinosteel Equipment Co.,
Ltd under the mediation of the court, and a compensation of 109 million yuan was obtained, which
’s included the non-recurring profit and loss.


IV. Other relevant explanation


     1. The estimated performance is the preliminary data, Actual results of will be released by the

Company’s 1st Quarterly Report 2021. investors are advised to make decisions prudently and pay

attention to investment risks.

     2.Shanghai Securities Daily, Securities Times, Hong Kong Commercial Daily and

www.cninfo.com.cn are the official presses of the Company for information disclosure.

     This announcement is hereby made.


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

                                                                                     April 10,2021