Hangzhou Steam Turbine Co., Ltd. The First Quarter Report 2022(Full text)
Stock Code：200771 Stock ID: Hangqilun B Announcement No.:2022-43
Hangzhou Steam Turbine Co., Ltd.
The First Quarter Report 2022
The Company and its directors hereby guarantee that the content of information disclosure is real,
accurate, complete and free from any false record, misleading representation or material omissions.
Important notes
1.The Board of Directors and the Supervisory Committee of the Company and its directors, supervisors and senior
executives should guarantee the reality, accuracy and completion of the quarterly report, there are no any fictitious
statements, misleading statements or important omissions carried in this report, and shall take legal
responsibilities, individual and or joint.
2. Person in charge of the Company, Person in charge of accounting and person in charge of accounting organ
(accounting officer) hereby confirm that the financial information of this Quarterly Report is authentic, accurate
and complete.
3. The first quarterly report audited or not
□Yes √No
I. Main financial data
(I) Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data
√Yes □ No
Retroactive adjustment or restatement of causes
Merger of enterprises under the same control
Changes of this
period over same
Same period of last year period of last year
This period
（％）
Before adjustment After adjustment After adjustment
Operating revenue（Yuan） 1,788,987,236.29 1,181,683,010.42 1,250,479,486.22 43.06%
Net profit attributable to the shareholders
184,043,460.08 161,578,759.88 128,410,233.92 43.32%
of the listed company（Yuan）
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of 138,956,828.84 54,440,724.84 54,440,724.84 155.24%
listed company（Yuan）
Net cash generated from /used in operating
-124,850,206.32 157,547,348.48 133,76,407.99 -193.82%
activities（Yuan）
Basic earning per share(Yuan/Share) 0.25 0.22 0.17 47.06%
Diluted gains per share(Yuan/Share) 0.25 0.22 0.17 47.06%
Weighted average return on equity
2.25% 1.92% 1.52% 0.73%
（%）
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Hangzhou Steam Turbine Co., Ltd. The First Quarter Report 2022(Full text)
Changes of this
period-end over
End of last period
End of this period same period-end of
last year(%)
Before adjustment After adjustment After adjustment
Total assets（Yuan） 16,074,299,760.82 16,319,667,628.76 16,319,667,628.76 -1.50%
Net assets attributable to the shareholders
8,420,244,930.35 7,927,485,773.65 7,927,485,773.65 6.22%
of the listed company（Yuan）
(II)Items and amount of non-current gains and losses
√ Applicable □ Not applicable
In RMB
Items Current amount Note
Non-current asset disposal gain/loss(including the write-off part for which
-3,768.85
assets impairment provision is made)
Tax refund, deduction and exemption that is examined and approved by
0.00
authority exceeding or has no official approval document.
Governmental Subsidy accounted as current gain/loss, except for those
subsidies at with amount or quantity fixed by the national government and 3,471,802.66
closely related to the Company’s business operation.
Capital occupation charges on non-financial enterprises that are recorded into
0.00
current gains and losses
Gains due to that the investment costs for the Company to obtain
subsidiaries, associates and joint ventures are lower than the enjoyable fair
0.00
value of the identifiable net assets of the investees when making the
investments
Gain/loss on non-monetary asset swap 0.00
Gain/loss on entrusting others with investments or asset management 0.00
Asset impairment provisions due acts of God such as natural disasters 0.00
Gains/losses of debt restructure 0.00
Reorganization expenses, such as expenditure for allocation of employees
0.00
and integration fee
Gains/losses exceeding the fair value arising from transactions with
0.00
obviously unfair prices
Net gain and loss of the subsidiary under the common control and produced
from enterprise consolidation from the beginning of the period to the 0.00
consolidation date
Gain and loss arising from contingent matters irrelevant with the Company’s
0.00
normal operation business
Gain and loss from change of the fair value arising from transactional
monetary assets, transactional financial liabilities as held as well as the
investment income arising from disposal of the transactional monetary assets,
12,424,103.43
transactional financial liabilities and financial assets available for sale
excluding the effective hedging transaction in connection with the
Company’s normal business
Reverse of the provision for impairment of accounts receivable undergoing
0.00
impairment test individually
Gain/loss from external entrusted loan 0.00
Gain and loss arising from change in the fair value of the investment based
0.00
real estate measure afterwards by means of fair value model
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Hangzhou Steam Turbine Co., Ltd. The First Quarter Report 2022(Full text)
Influence upon the current gains and losses from the once-and –for –all
adjustment over the current gains and losses according to the taxation and 0.00
accounting laws and regulations
Income from custodian charge obtained from entrusted operation 0.00
Operating income and expenses other than the aforesaid items Mainly due to contract termination
37,777,585.65
of liquidated damages income
Less: Influenced amount of income tax 7,873,995.92
Amount of influence of minority interests（After tax） 709,095.73
Total 45,086,631.24 --
Details of other gains/losses items that meets the definition of non-recurring gains/losses:
□ Applicable √ Not applicable
There are no other gains/losses items that meet the definition of non-recurring gains/losses in the Company.
Explain the items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss in
Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public ---
Extraordinary Profit/loss
□ Applicable √ Not applicable
There are no items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss
in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public ---
Extraordinary Profit/loss.
(III)Particulars about material changes in items of main accounting statement and financial index and
explanations of reasons
√ Applicable □Not applicable
Balance sheet Year-on-year increase or
March 31,2022 December 31,2021 Reason
items decrease
Mainly due to after the merger of Steam Turbine
Other current Heavy Industry Co., Ltd last year, the original
12,282,671.80 66,174,951.42 -81.44%
assets value-added tax credit that could not be deducted
was deducted in the current period.
Mainly due to the expected capitalized gas turbine
Development
6,158,985.15 0.00 development expenses incurred in the current
expenses
period.
Mainly due to the year-end bonus accrued at the
Employees’
66,458,358.00 133,122,509.92 -50.08% end of the previous year was paid in the current
wage payable
period.
Mainly due to the value-added tax and income tax
balances payable at the end of the period
Tax payable 52,298,356.66 81,622,378.10 -35.93%
decreased compared with the beginning of the
period.
Mainly due to receive more than 4 million yuan of
Special payable 10,381,765.74 7,249,677.56 43.20%
Government subsidies in this period
Income Year-on-year increase or
Current period Last period Reason
statement items decrease
Mainly due to the increase in units delivered in
Business income 1,788,987,236.29 1,250,479,486.22 43.06% this period, including the delivery of 2 gas
turbines.
Mainly due to operating costs increased YOY
Business costs 1,268,556,153.69 867,218,040.52 46.28%
incurred by the increase in operating income.
Mainly due to the original heavy industry
Business tax and value-added tax credit was offset in the current
3,348,834.01 6,813,565.14 -50.85% period after the heavy industry was absorbed and
surcharge
merged into the shares, resulting in a decrease in
the value-added tax paid in the current period, and
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Hangzhou Steam Turbine Co., Ltd. The First Quarter Report 2022(Full text)
a decrease in accrued taxes and surcharges.
Mainly due to a net exchange loss in the current
Financial
5,313,707.09 3,066,720.40 73.27% period and there was a net exchange gain the same
expenses
period last year.
Mainly due to the increase in the wealth
Investment gain management products with income recognized at
12,491,713.99 2,590,048.97 382.31%
（“-”for loss） maturity in the current period compared with the
previous year.
Mainly due to the relocation expenses recognized
Other income 3,751,924.89 10,058,629.52 -62.70% in other income in the current period decreased
compared with the same period of last year;
Mainly due to the received compensation of RMB
Non-operating
39,983,542.00 118,072,268.36 -66.14% 109 million paid by Sinosteel Equipment Co., Ltd
income
in the same period of the previous year.
Non-operating Mainly due to the increase in quality
2,486,602.85 1,342,295.64 85.25%
expenses compensation expenses in the current period.
Mainly due to the increase in the total sales profit
Income tax
40,840,560.27 33,370,278.11 22.39% in the current period and the increase in the
expenses
provision of income tax.
133,076,407.99 -193.82%
Cash flow
Mainly due to the YOY decrease in the amount
generated by collected in the current period and the increase in
-124,850,206.32
cash paid for the purchase of gas turbines and
business other stockpiles.
operation, net
-780,529,009.29 116.23%
Net cash flow Mainly due to the decrease in the net purchase of
wealth management, and there was RMB 688
generated by 126,672,172.27 million paid in cash to purchase the convertible
bonds in the same period last year paid.
investment
Net cash flow
generated by -3,028,838.60 Mainly due to the YOY increase in net bank loans.
-34,600,606.64
Financing 91.25%
II. Shareholders Information
(I) Total number of common shareholders and preference shareholders with voting rights recovered and
top ten common shareholders
In shares
Total preference
shareholders with the
Total number of common shareholders at the
11,106 voting power recovered at 0
period-end
the end of the reporting
period(if any)
Shares held by the top 10 shareholders
Amount of Pledging or freezing
Properties of Share tradable shares
Shareholder name Quantity Status of the
shareholder proportion % Quantity
with Conditional shares
held
Hangzhou Steam Turbine State-owned
63.64% 479,824,800 479,824,800
Power Group Co., Ltd. legal person
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Hangzhou Steam Turbine Co., Ltd. The First Quarter Report 2022(Full text)
GUOTAI JUNAN
Foreign legal
SECURITIES(HONGKONG) 0.91% 6,828,085 0
person
LIMITED
China Merchants State-owned
0.72% 5,453,675 0
Securities(HK)Co., Ltd. legal person
Domestic
Zhou Jie 0.62% 4,695,100 0
Natural person
VANGUARD TOTAL
Foreign legal
INTERNATIONAL STOCK 0.59% 4,434,453 0
person
INDEX FUND
ISHARES CORE MSCI
Foreign legal
EMERGING MARKETS 0.53% 4,031,463 0
person
ETF
VANGUARD EMERGING
Foreign legal
MARKETS STOCK INDEX 0.51% 3,857,182 0
person
FUND
Foreign legal
NORGES BANK 0.33% 2,514,529 0
person
Domestic
Xia Zulin 0.32% 2,381,200 0
Natural person
Domestic
Gu Yang 0.21% 1,568,324 0
Natural person
Shares held by the Top 10 Shareholders of Non-restricted shares
Number of the non-restricted Share type
Shareholders’ Names
shares held Share type Quantity
GUOTAI JUNAN Foreign shares placed in
6,828,085 6,828,085
SECURITIES(HONGKONG) LIMITED
domestic exchange
Foreign shares placed in
China Merchants Securities(HK)Co., Ltd. 5,453,675 5,453,675
domestic exchange
Foreign shares placed in
Zhou Jie 4,695,100 4,695,100
domestic exchange
VANGUARD TOTAL INTERNATIONAL Foreign shares placed in
4,434,453 4,434,453
STOCK INDEX FUND
domestic exchange
ISHARES CORE MSCI EMERGING Foreign shares placed in
4,031,463 4,031,463
MARKETS ETF
domestic exchange
VANGUARD EMERGING MARKETS Foreign shares placed in
3,857,182 3,857,182
STOCK INDEX FUND
domestic exchange
Foreign shares placed in
NORGES BANK 2,514,529 2,514,529
domestic exchange
Foreign shares placed in
Xia Zulin 2,381,200 2,381,200
domestic exchange
Foreign shares placed in
Gu Yang 1,568,324 1,568,324
domestic exchange
Wang Yihu 1,539,966 Foreign shares placed in 1,539,966
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Hangzhou Steam Turbine Co., Ltd. The First Quarter Report 2022(Full text)
domestic exchange
(1)It is unknown to the Company if there is any relationship among the top 10
common share holders without restriction. (2) Other Shareholders. is not an
Explanation on associated relationship or
action-in-concert” party with any of other shareholders as described by the
concerted action of the above shareholders
“Administration Rules of Informational Disclosure about Change of Shareholding
Statues of PLCs”.
Note to the top 10 common stockholders
involved in margin financing & securities Not applicable
lending (If any)
(II) Total shareholders with preferred stock held and shares held by top ten shareholders with preferred
stock held
□ Applicable √ Not applicable
III. Other significant events
□ Applicable √ Not applicable
IV. Quarterly financial statements
（I）Financial statement
1. Consolidated balance sheet
Prepared by:：Hangzhou Steam Turbine Co., Ltd.
In RMB
Items Ending balance Opening balance
Current asset：
Monetary fund 1,635,565,185.39 1,622,883,247.79
Settlement provision
Outgoing call loan
Transactional financial assets 814,577,649.26 960,645,259.82
Derivative financial assets
Notes receivable 176,021,171.62 215,046,941.09
Account receivable 2,247,391,167.66 1,997,950,120.70
Financing receivable 697,446,924.10 816,653,211.21
Prepayments 515,860,422.62 443,770,434.91
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Other account receivable 50,531,334.59 44,163,396.56
Including：Interest receivable
Dividend receivable
Repurchasing of financial assets
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Hangzhou Steam Turbine Co., Ltd. The First Quarter Report 2022(Full text)
Inventories 2,500,247,923.86 3,041,643,747.35
Contract assets 657,370,581.13 583,026,649.99
Assets held for sales
Non-current asset due within 1 year
Other current asset 12,282,671.80 66,174,951.42
Total of current assets 9,307,295,032.03 9,791,957,960.84
Non-current assets：
Loans and payment on other’s behalf disbursed
Creditor's Investment
Other Creditor's Investment
Long-term receivable 139,941,093.20 153,741,093.20
Long term share equity investment
Other equity instruments investment 3,830,859,413.28 3,485,440,140.92
Other non-current financial assets 14,654,773.22 14,792,533.96
Property investment 6,696,335.10 6,903,986.07
Fixed assets 1,630,779,659.02 1,658,423,191.83
Construction in progress 442,394,798.76 517,835,956.11
Production physical assets
Oil & gas assets
Use right assets 30,921,364.79 30,437,778.92
Intangible assets 276,965,578.77 277,469,707.24
Development expenses 6,158,985.15
Goodwill
Long-germ expenses to be amortized
Deferred income tax asset 387,632,727.50 382,665,279.67
Other non-current asset
Total of non-current assets 6,767,004,728.79 6,527,709,667.92
Total of assets 16,074,299,760.82 16,319,667,628.76
Current liabilities
Short-term loans 249,800,000.00 250,065,920.45
Loan from Central Bank
Borrowing funds
Transactional financial liabilities
Derivative financial liabilities
Notes payable 288,205,243.72 309,404,319.27
Account payable 1,657,896,218.13 1,910,150,188.14
Advance receipts 812,701.37 812,701.37
Contract liabilities 2,695,489,872.73 3,052,515,293.06
Selling of repurchased financial assets
Deposit taking and interbank deposit
Entrusted trading of securities
Entrusted selling of securities
Employees’ wage payable 66,458,358.00 133,122,509.92
Tax payable 52,298,356.66 81,622,378.10
Other account payable 405,555,248.83 434,578,338.13
Including：Interest payable
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Hangzhou Steam Turbine Co., Ltd. The First Quarter Report 2022(Full text)
Dividend payable
Fees and commissions payable
Reinsurance fee payable
Liabilities held for sales
Non-current liability due within 1 year 17,180,833.32 17,607,722.97
Other current liability 347,718,193.58 395,640,629.47
Total of current liability 5,781,415,026.34 6,585,520,000.88
Non-current liabilities：
Reserve fund for insurance contracts
Long-term loan 180,804,135.55 180,830,007.55
Bond payable
Including：preferred stock
Sustainable debt
Lease liability 22,371,192.03 22,575,754.77
Long-term payable 10,711,765.74 7,579,677.56
Long-term remuneration payable to staff
Expected liabilities
Deferred income 727,017,103.32 729,438,751.74
Deferred income tax liability 515,965,141.88 464,172,915.14
Other non-current liabilities
Total non-current liabilities 1,456,869,338.52 1,404,597,106.76
Total of liability 7,238,284,364.86 7,990,117,107.64
Owners’ equity
Share capital 754,010,400.00 754,010,400.00
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 298,382,910.14 282,946,030.50
Less：Shares in stock 144,078,948.09 144,078,948.09
Other comprehensive income 2,922,967,041.87 2,629,477,756.99
Special reserve 18,158,565.62 18,369,033.52
Surplus reserves 625,178,089.82 625,178,089.82
Common risk provision
Retained profit 3,945,626,870.99 3,761,583,410.91
Total of owner’s equity belong to the parent company 8,420,244,930.35 7,927,485,773.65
Minority shareholders’ equity 415,770,465.61 402,064,747.47
Total of owners’ equity 8,836,015,395.96 8,329,550,521.12
Total of liabilities and owners’ equity 16,074,299,760.82 16,319,667,628.76
Legal Representative: Zheng Bin Person in charge of accounting：Zhao Jiamao Accounting Dept Leader: Jin Can
2.Consolidated Income Statement
In RMB
Items Current period Last period
I. Income from the key business 1,788,987,236.29 1,250,479,486.22
Incl：Business income 1,788,987,236.29 1,250,479,486.22
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Hangzhou Steam Turbine Co., Ltd. The First Quarter Report 2022(Full text)
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 1,544,630,767.37 1,147,179,097.27
Incl：Business cost 1,268,556,153.69 867,218,040.52
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net amount of withdrawal of insurance contract reserve
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 3,348,834.01 6,813,565.14
Sales expense 46,212,368.82 46,442,184.93
Administrative expense 135,702,564.20 122,601,686.57
R & D costs 85,497,139.56 101,036,899.71
Financial expenses 5,313,707.09 3,066,720.40
Including：Interest expense 7,205,885.86 7,819,939.68
Interest income 3,962,049.43 2,706,822.08
Add: Other income 3,751,924.89 10,058,629.52
Investment gain（“-”for loss） 12,491,713.99 2,590,048.97
Incl: investment gains from affiliates
Financial assets measured at amortized cost cease to be recognized as income
Gains from currency exchange
Net exposure hedging income
Changing income of fair value -67,610.56 29,579.62
Credit impairment loss -75,474,967.16 -70,213,126.20
Impairment loss of assets 16,210,996.87 17,857,537.80
Assets disposal income -3,244.58 -42,944.94
III. Operational profit（“-”for loss） 201,265,282.37 63,580,113.72
Add ：Non-operational income 39,983,542.00 118,072,268.36
Less: Non-operating expense 2,486,602.85 1,342,295.64
IV. Total profit(“-”for loss) 238,762,221.52 180,310,086.44
Less：Income tax expenses 40,840,560.27 33,370,278.11
V. Net profit 197,921,661.25 146,939,808.33
(I) Classification by business continuity
1.Net continuing operating profit 197,921,661.25 146,939,808.33
2.Termination of operating net profit
(II) Classification by ownership
1.Net profit attributable to the owners of parent company 184,043,460.08 128,410,233.92
2.Minority shareholders’ equity 13,878,201.17 18,529,574.41
VI. Net after-tax of other comprehensive income 293,489,284.88 455,255,032.45
Net of profit of other comprehensive income attributable to owners of the paren 293,489,284.88 455,255,032.45
t company.
（I）Other comprehensive income items that will not be reclassified into
293,489,284.88 455,255,032.45
gains/losses in the subsequent accounting period
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Hangzhou Steam Turbine Co., Ltd. The First Quarter Report 2022(Full text)
1.Re-measurement of defined benefit plans of changes in net debt or net assets
2.Other comprehensive income under the equity method investee can not be rec
lassified into profit or loss.
3. Changes in the fair value of investments in other equity instruments 293,489,284.88 455,255,032.45
4. Changes in the fair value of the company’s credit risks
5.Other
（II）
Other comprehensive income that will be reclassified into profit or loss.
1.Other comprehensive income under the equity method investee can be reclassi
fied into profit or loss.
2. Changes in the fair value of investments in other debt obligations
3. Other comprehensive income arising from the reclassification of financial
assets
4.Allowance for credit impairments in investments in other debt obligations
5. Reserve for cash flow hedges
6.Translation differences in currency financial statements
7.Other
Net of profit of other comprehensive income attributable to Minority
shareholders’ equity
VII. Total comprehensive income 491,410,946.13 602,194,840.78
Total comprehensive income attributable to the owner of the parent company 477,532,744.96 583,665,266.37
Total comprehensive income attributable minority shareholders 13,878,201.17 18,529,574.41
VIII. Earnings per share
（I）Basic earnings per share 0.25 0.17
(II)Diluted earnings per share 0.25 0.17
The current business combination under common control, the net profits of the combined party before achieved ne
t profit of RMB 0.00, last period the combined party realized RMB0.00.
Legal Representative: Zheng Bin Person in charge of accounting：Zhao Jiamao Accounting Dept Leader: Jin Can
3. Consolidated Cash flow statement
In RMB
Items Current period Last period
I. Cash flows from operating activities
Cash received from sales of goods or rending of services 1,058,270,245.53 1,283,740,325.19
Net increase of customer deposits and capital kept for brother
company
Net increase of loans from central bank
Net increase of inter-bank loans from other financial bodies
Cash received against original insurance contract
Net cash received from reinsurance business
Net increase of client deposit and investment
Cash received from interest, commission charge and commission
Net increase of inter-bank fund received
Net increase of repurchasing business
Net cash received by agent in securities trading
Tax returned 2,576,435.19 2,559,611.29
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Hangzhou Steam Turbine Co., Ltd. The First Quarter Report 2022(Full text)
Other cash received from business operation 13,305,845.06 43,896,620.61
Sub-total of cash inflow 1,074,152,525.78 1,330,196,557.09
Cash paid for purchasing of merchandise and services 726,828,613.28 684,534,707.86
Net increase of client trade and advance
Net increase of savings in central bank and brother company
Cash paid for original contract claim
Net increase for Outgoing call loan
Cash paid for interest, processing fee and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 267,198,844.00 259,325,520.36
Taxes paid 88,450,273.16 141,965,913.25
Other cash paid for business activities 116,525,001.66 111,294,007.63
Sub-total of cash outflow from business activities 1,199,002,732.10 1,197,120,149.10
Net cash generated from /used in operating activities -124,850,206.32 133,076,407.99
II. Cash flow generated by investing
Cash received from investment retrieving 814,851.80
Cash received as investment gains 12,403,494.81 9,081,744.56
Net cash retrieved from disposal of fixed assets, intangible assets, 197,987.44
6,500.00
and other long-term assets
Net cash received from disposal of subsidiaries or other operational
units
Other investment-related cash received 648,000,000.00 1,137,000,539.97
Sub-total of cash inflow due to investment activities 660,409,994.81 1,147,095,123.77
Cash paid for construction of fixed assets, intangible assets and 113,052,133.06
31,736,192.54
other long-term assets
Cash paid as investment 1,630.00
Net increase of loan against pledge
Net cash received from subsidiaries and other operational units
Other cash paid for investment activities 502,000,000.00 1,814,572,000.00
Sub-total of cash outflow due to investment activities 533,737,822.54 1,927,624,133.06
Net cash flow generated by investment 126,672,172.27 -780,529,009.29
III.Cash flow generated by financing
Cash received as investment
Including: Cash received as investment from minor shareholders
Cash received as loans 23,800,000.00 13,800,000.00
Other financing –related cash received
Sub-total of cash inflow from financing activities 23,800,000.00 13,800,000.00
Cash to repay debts 23,800,000.00 43,120,172.54
Cash paid as dividend, profit, or interests 2,427,453.62 5,280,434.10
Including: Dividend and profit paid by subsidiaries to minor
shareholders
Other cash paid for financing activities 601,384.98
Sub-total of cash outflow due to financing activities 26,828,838.60 48,400,606.64
Net cash flow generated by financing -3,028,838.60 -34,600,606.64
IV. Influence of exchange rate alternation on cash and cash 673,277.86
-581,538.97
equivalents
V.Net increase of cash and cash equivalents -1,788,411.62 -681,379,930.08
Add: balance of cash and cash equivalents at the beginning of term 1,467,538,968.07 1,850,354,648.10
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Hangzhou Steam Turbine Co., Ltd. The First Quarter Report 2022(Full text)
VI ..Balance of cash and cash equivalents at the end of term 1,465,750,556.45 1,168,974,718.02
Legal Representative: Zheng Bin Person in charge of accounting：Zhao Jiamao Accounting Dept Leader: Jin Can
(II) Auditors 'Report
Is the First Quarterly Report be audited?
□ Yes √No
The First Quarterly report is not audited.
The Board of Directors of Hangzhou Steam Turbine Co., Ltd.
April 27, 2022
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