Stock Code: 200771             Stock ID: Hangqilun B            Announcement No.: 2023-34



                                  Hangzhou Steam Turbine Power Group Co., Ltd.

                                 Performance Prospect for the First Quarter of 2023



    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 1，2023 to March 31, 2023


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


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


Net profit attributable to the      Loss：-45.53 million yuan~-55.65 million yuan

shareholders of the listed                                                                Earnings：184.04 million yuan
                                  Decrease    over    the    same    period   of   last
company
                                   year:124.74%~130.24%


Net profit after deducting          Loss：-54.87 million yuan~-67.07 million yuan

non-recurring gains and                                                                   Earnings：138.96 million yuan
                                  Decrease    over    the    same    period   of   last
losses
                                  year:139.49%~148.27%

Basic earnings per share            Loss：-0.05 yuan/share~ -0.06 yuan/share              Earnings：0.19 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

          The Company's net profit attributable to shareholders of listed companies in this period

    decreased significantly year on year, mainly due to the sharp decrease in sales revenue in this period,

    and the decrease in gross profit due to the influence of product structure, resulting in a year-on-year
decrease in net profit.

     The specific reasons are as follows:

     1) Affected by the "carbon peaking and carbon neutrality" policy, from the end of 2021 to the

first half of 2022, the ordering of some projects was delayed. The delivery period of the Company's

units is about 10 to 12 months, which leads to a corresponding decline in the number of units

delivered in the first quarter of 2023.

     2) Affected by the lifting of pandemic control restrictions nationwide at the end of 2022 plus

the Chinese New Year, the Company's unit production and customer project construction progress

have been delayed to some extent, resulting in a decrease in the number of deliverable units and a

decline in sales revenue.


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 2023. 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 Power Group Co., Ltd.

                                                                                    April 15,2023