Stock Code: 200771       Stock ID: Hangqilun B         Announcement No. :2021-64




                           Hangzhou Steam Turbine Co., Ltd.
Announcement on the approval of the equity incentive plan by the State-owned
Assets Supervision and Administration Commission of the Hangzhou Municipal
                           People's Government


    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.


     Recently, Hangzhou Steam Turbine Co., Ltd received the Hangzhou Municipal People’s
Government State-owned Assets Supervision and Administration Commission’s "Approval from
Hangzhou SASAC on Hangzhou Steam Turbine’s 2021 Restricted Stock Incentive Plan" (No.
45-[2021] Hang Guo Zi Appraisal). Hangzhou State-owned Assets Supervision and
Administration Commission of the People's Government agreed in principle to Hangzhou Steam
Turbine for implementing the 2021 restricted stock incentive plan.
     The Company's 2021 restricted stock incentive plan still needs to be submitted to the general
meeting of shareholders for deliberation.

This announcement is hereby made.


                           The Board of Directors of Hangzhou Steam Turbine Co., Ltd.
                                                             August 12, 2021