Stock Code: 200771 Stock ID: Hangqilun B Announcement No. :2022-05
Hangzhou Steam Turbine Co., Ltd.
Announcement on provide Credit guarantee for Steam Turbine New Energy Company
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.Overview of the Guarantee
Hangzhou Steam Turbine New Energy Co., Ltd (hereinafter referred to as: Steam Turbine
New Energy Company), a wholly-owned subsidiary to the Company, intends to apply for a credit
line of 300 million yuan from Hangzhou Bank Gaoxing branch for meeting the development needs
of the company, which needs the Company to provide the guarantee, with the guarantee method is
joint and several liability guarantee, the main creditor's right occurs during: March 15, 2022 -
March 14, 2025 (The specific date shall be subject to the date when the maximum guarantee
contract is signed), and the guarantee period is: three years from the expiry date to the occurrence
period of the main creditor's right.
According to the relevant regulations of listed companies, the guarantee provided by the company
for guarantee objects whose asset-liability ratio exceeds 70% shall be submitted to the general
shareholders 'meeting. Steam Turbine New Energy Company’s asset-liability ratio exceeds
70%,This proposal is subject to examination of the Shareholders’ Meeting. This guarantee does
not constitute a related transaction and shall not be subject to the relevant government departments
for approval.
Ⅱ. Basic Information about the Guaranteed
1.Company name：Hangzhou Steam Turbine New Energy Co., Ltd.
2.Unified social credit code:913301005832089108
3. Date of establishment: September 30,2021
4.Registration address: Room 1201, Technology Building, No. 608, Kangxin Road,
Economic & Technological Development Zone, Yuhang District, Hangzhou City
5.Legal representative: Lin Zhangxin
6.Registered capital: 200 million yuan
1
7.Main business: general projects: engineering and technical research and test development;
import and export of goods; sales of lubricants; general contracting of electric power projects;
design and installation: complete sets of mechanical and electrical equipment projects, small and
medium thermal power generation projects, energy-saving technology renovation projects and
provision of related technical services, technical consultation, and transfer of technology costs [the
aforesaid business scope excludes installation (repair and test) of electric power facilities];
wholesale and retail: complete sets of mechanical and electrical equipment, metal materials, high
and low voltage electrical appliances, wires and cables, instruments and meters, thermal insulation
and refractory materials; (For projects subject to approval according to law, business activities can
only be carried out after approval by relevant departments). Licensed projects: construction
engineering design; construction engineering construction (projects that have been issued and
subject to approval can only carry out business activities after being approved by the relevant
departments, and the specific business items are subject to the approval results).
8. Relationship with the company: The Steam Turbine New Energy Company is a
wholly-owned subsidiary to the Company, and the Company holds 100% of the shares.
9.The guarantor of the recent financial situation:
In RMB 10,000
Asset liability
Period Revenue Total profit Net profit Net assets Total assets
ratio
2019 15,653.00 -3,256.69 -2,773.77 411.78 71,560.29 99.42%
2020 20,494.19 2,577.63 1,115.36 1,527.14 47,429.38 96.78%
January- June 2021 10,716.69 -3,567.76 -6,001.99 -4,474.85 36,809.65 112.16%
Note:The financial data of Steam Turbine New Energy Company in 2021 involves retrospective
adjustment, and the company will make further disclosure after performing the relevant
approval procedures. For the final financial data, please refer to the relevant announcement of the
Company's subsequent disclosure.
10.Description of other matters
Steam Turbine New Energy Company is not listed as a defaulter.
III. The main contents of the guarantee agreement
(I)Maximum Amount Guarantee Contract between the Company and Hangzhou Bank
1. Creditor: Hangzhou Bank Gaoxin Branch
Debtor：Hangzhou Steam Turbine New Energy Co., Ltd.
Guarantor: Hangzhou Steam Turbine Co., Ltd.
2
2. Maximum Amount Guarantee：300 million yuan
3.Guarantee mean: Joint-liability guarantee
4.Scope of Guarantee: The scope of guarantee in this guarantee contract includes all
principals (including advances made according to the main contract), interest, compound interest,
penalty interest, and the doubled part of the debt interest during the period of delayed performance
in the execution procedure, liquidated damages, compensations, costs for realizing claims and
security rights (including but not limited to attorney fees, travel expenses, etc.) and all other
payables.
5.Guarantee period: three years from the date when the main creditor's right period expires.
6.Period of occurrence of main creditor's rights: March 15, 2022- March 14,2025 (The
specific date shall be subject to the date of signing the maximum guarantee contract).
IV. Opinions from Board of Directors
The Company provides guarantee for Steam Turbine New Energy Company this time, which
is in line with the operation and development needs of Steam Turbine New Energy Company, and
it will promote the smooth development of its strategic development goals and ensure its periodic
capital needs. The financial risks of the guarantee provided this time are within the controllable
range of the Company and will not adversely affect the daily operations of the Company or its
subsidiaries.
V. Cumulative Amount of External Guarantee and Amount of Overdue Guarantee
After this guarantee, the total amount of guarantees of the Company and its holding
subsidiaries is 708 million yuan. After this guarantee is provided, the total balance of external
guarantees by the Company and its holding subsidiaries accounts for 8.74% of the Company's
2020 audited net assets (8,104,788,900 yuan);
The Company has no overdue guarantees, and there is no guarantee amount for overdue debts
involving in litigation and no guarantee amount that shall be borne due to the guarantee is ruled
with a defeat in lawsuit.
VI. Documents available for inspection
1. Resolutions of the 21st Meeting of the 8th term of Board;
2.The guarantee contract signed between the Company and the Industrial and Commercial
Hangzhou Bank
3
The Board of Directors of Hangzhou Steam Turbine Co., Ltd.
January 26,2022
4
