Hangzhou Steam Turbine Power Group Co., Ltd. The Third Quarterly Report 2023
Stock Code：200771 Stock ID: Hangqilun B Announcement No.:2023-80
Hangzhou Steam Turbine Power Group Co., Ltd.
The Third Quarterly Report 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.
Important content reminder:
1.The Board of Directors, The Supervisory Committee, the supervisors and the directors of the Company
guarantee that there are no significant omissions, fictitious or misleading statements carried in the Report and
we will accept individual and joint responsibilities for the truthfulness, accuracy and completeness of the Report.
2. Principal of the Company, Person in Charge of Accounting Works and Person in Charge of Accounting Organ
(Accounting Officer) hereby confirm that the Financial Report of the Third Quarterly Report is authentic,
accurate and complete.
3. Whether the Third Quarterly Report has been 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
Increase/decrease
Increase/decrease in from year-begin
to period-end
the period compared Year-begin to
This period compared with
with the same period period-end the same period
of the previous year of the previous
year
Operating income（Yuan） 1,271,711,463.48 5.62% 3,893,956,516.47 -9.02%
Net profit attributable to the shareholders
of the listed company（Yuan） 124,458,434.91 55.73% 274,158,181.04 -35.98%
Net profit after deducting of non-
recurring gain/loss attributable to the 93,744,617.14 48.91% 198,860,264.11 -40.41%
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Hangzhou Steam Turbine Power Group Co., Ltd. The Third Quarterly Report 2023
shareholders of listed company （Yuan）
Cash flow generated by business
operation, net（Yuan） — — 652,190,382.77 674.65%
Basic earning per share(Yuan/Share) 0.11 57.14% 0.24 -35.14%
Diluted gains per share(Yuan/Share) 0.11 57.14% 0.24 -35.14%
Weighted average return on equity
（%） 1.57% 0.63% 3.38% -1.86%
Increase/decrease at the period-end
End of this period End of last period compared with the end of the previous
year
Gross assets（Yuan） 16,642,189,372.61 15,374,999,610.32 8.24%
Net assets attributable to the
shareholders of the listed company 7,901,677,130.96 8,328,481,114.19 -5.12%
（Yuan）
（II)Items and amount of non-current gains and losses
√ Applicable □ Not applicable
In RMB
Amount from year-begin
Items This period Notes
to period -end
Non-current asset disposal gain/loss(including the write-off
82,200.47 2,687,762.47
part for which assets impairment provision is made)
Tax refund, deduction and exemption that is examined and
approved by authority exceeding or has no official approval 0.00 0.00
document.
Governmental Subsidy accounted as current gain/loss, except
for those subsidies at with amount or quantity fixed by the
20,343,176.44 49,658,159.69
national government and closely related to the Company’s
business operation.
Capital occupation charges on non-financial enterprises that
are recorded into current gains and losses 0.00 0.00
Gains due to that the investment costs for the Company to
obtain subsidiaries, associates and joint ventures are lower than
the enjoyable fair value of the identifiable net assets of the 0.00 0.00
investees when making the investments
Gain/loss on non-monetary asset swap 0.00 0.00
Gain/loss on entrusting others with investments or asset
management 0.00 0.00
Asset impairment provisions due acts of God such as natural
disasters 0.00 0.00
Gains/losses of debt restructure 652,357.11 652,357.11
Reorganization expenses, such as expenditure for allocation of
employees and integration fee 0.00 0.00
Gains/losses exceeding the fair value arising from transactions
with obviously unfair prices 0.00 0.00
Net gain and loss of the subsidiary under the common control
and produced from enterprise consolidation from the beginning 0.00 0.00
of the period to the consolidation date
Gain and loss arising from contingent matters irrelevant with
the Company’s normal operation business 0.00 0.00
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 739,746.39 7,024,445.80
of the transactional monetary assets, transactional financial
liabilities and financial assets available for sale excluding the
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Hangzhou Steam Turbine Power Group Co., Ltd. The Third Quarterly Report 2023
effective hedging transaction in connection with the
Company’s normal business
Reverse of the provision for impairment of accounts receivable
undergoing impairment test individually 0.00 0.00
Gain/loss from external entrusted loan 0.00 0.00
Gain and loss arising from change in the fair value of the
investment based real estate measure afterwards by means of 0.00 0.00
fair value model
Influence upon the current gains and losses from the once-and
–for –all adjustment over the current gains and losses 0.00 0.00
according to the taxation and accounting laws and regulations
Income from custodian charge obtained from entrusted
operation 0.00 0.00
Other non-operating income and expenditure except for the
aforementioned items 16,863,443.01 33,846,099.53
Other profit and loss items that meet the definition of non-
operating profit and loss 0.00 0.00
Less: Influenced amount of income tax 5,258,610.68 11,826,224.92
Amount of influence of minority interests（After tax） 2,708,494.97 6,744,682.75
Total 30,713,817.77 75,297,916.93 --
Other gain/loss items that qualified the definition of non-recurring profit (gains)/losses:
□ Applicable √ Not applicable
The Company does not have other gain/loss items that qualified the definition of non-recurring profit
(gains)/losses
Explanation on those non-recurring gain/loss listed in the “Q&A Announcement No.1 on Information
Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss” defined as
recurring gain/loss
□ Applicable √ Not applicable
The Company does not have the non-recurring gain/loss listed in the “Q&A Announcement No.1 on
Information Disclosure for Companies Offering Their Securities to the Public --- Extraordinary Profit/loss”
defined as recurring gain/loss
(III) Particulars about changes in items of main accounting data and financial index and explanations of
reasons
√ Applicable □Not applicable
In RM B
YOY
Balance sheet items September 30,2023 January 1,2023 increase or Reason
decrease
M ainly due to the increase in discount of note, the
increase in the goods payment by bills, the receipt
M onetary funds 2,426,432,971.01 1,954,980,787.90 24.12% of the final payment of relocation compensation,
and the increase in advance sales receipts in the
current period.
M ainly due to the increase in the purchase of
Transactional financial
811,817,033.80 607,001,143.44 33.74% wealth management products in the current
assets
period.
M ainly due to the increase in the advance
Prepayments 847,867,256.64 401,523,615.49 111.16% payment for the purchase of gas turbine engines in
the current period.
Other account M ainly due to the increase in customs deposits in
36,614,897.69 25,366,963.26 44.34%
receivable the current period.
M ainly due to the withholding income tax and the
Other current assets 13,107,910.76 78,949,731.48 -83.40%
input tax to be deducted at the beginning of the
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Hangzhou Steam Turbine Power Group Co., Ltd. The Third Quarterly Report 2023
period.
M ainly due to the collection of previous projects
Long-term receivable 37,641,093.20 77,541,093.03 -51.46%
such as the Tian’tie in the current period.
Construction in M ainly due to the investment of equipment and
358,621,225.76 286,290,854.97 25.26%
progress construction projects in the current period.
M ainly due to the payment of a number of land
Intangible assets 409,585,639.50 274,844,788.47 49.02%
purchases in the current period.
M ainly due to the depreciation provision for right-
Right to use assets 18,529,307.92 28,105,943.29 -34.07%
of-use assets.
M ainly due to the merger of Western Power
Goodwill 8,417,413.42 - Company not under common control by
Ranchuang Company in the current period.
M ainly due to the transfer of land in-advance
Other non-current 31,327,604.47 44,922,954.47 -30.26% payment at the beginning of the period to
Assets intangible assets in the current period.
Short-term loans 415,500,472.22 287,753,227.89 44.39% M ainly due to the increase in short-term loans in
the current period.
M ainly due to the increase in goods payment by
Notes payable 987,560,972.18 411,886,347.73 139.77%
notes in the current period.
M ainly due to the increase in advance receipts for
Contract liabilities 2,906,568,521.74 2,306,912,441.68 25.99%
gas turbine project in the current period.
M ainly due to the distribution of year-end bonus
Employees’ wage 90,614,260.09 139,014,673.58 -34.82% accrued at the end of the previous year in the
payable current period.
M ainly due to the payment of various taxes and
Tax payable 31,431,527.13 73,385,124.09 -57.17% fees accrued at the end of the previous year in the
current period.
Non-current liability M ainly due to the increase in long-term bank
52,616,618.63 42,802,886.86 22.93%
due within 1 year loans maturing within one year.
M ainly due to the increase in the pending output
Other current liability 376,052,339.30 267,585,963.69 40.54% tax in the advanced contract amount in the current
period.
M ainly due to the increase in long-term loans in
Long-term loans 199,700,000.00 159,903,673.86 24.89%
the current period.
M ainly due to the new addition of a number of
Long-term payable 15,920,261.38 11,104,088.21 43.37%
land use rights in the current period.
M ainly due to the recognition of deferred income
Deferred income 1,090,298,649.78 877,381,129.85 24.27% from the receipt of relocation compensation in the
current period.
YOY
Income statement
Current period Last period increase or Reason
items
decrease
M ainly due to the increase in the Company's sales
activities, the more refined employee salary
Sales expenses 191,227,664.28 125,538,455.52 52.33%
accounting, and the adjustment of the presentation
of social security expenses.
M ainly due to the more refined salary accounting
Administrative
420,333,438.54 526,444,000.16 -20.16% of employees and the adjustment of the
expenses
presentation of social security expenses.
M ainly due to the YOY decrease in net exchange
Financial expenses -14,430,002.34 -35,411,697.65 59.25%
income in the current period.
Impairment loss of M ainly due to the YOY increase in the collection
14,586,027.60 -1,384,104.99 1153.83%
assets of warranty money in the current period.
M ainly due to the receipt of large long-aged
Credit impairment loss -36,415,626.10 -1,211,899.19 -2904.84% amount payment for units in the previous period,
resulting in the reversal of impairment losses.
M ainly due to the increase in recognized gains
Other income 57,915,397.17 43,254,619.27 33.89% such as depreciation of relocation assets in the
current period.
M ainly due to the decrease in sales revenue and
Operational profit 299,613,937.46 536,859,876.29 -44.19% the decrease in sales gross margin due to the
impact of product structure in the current period.
The reason for the change is the same as the
Total profit 335,760,067.81 578,084,353.88 -41.92%
operating profit.
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Hangzhou Steam Turbine Power Group Co., Ltd. The Third Quarterly Report 2023
M ainly due to the YOY decrease in total profit
Income tax expenses 39,015,204.58 76,045,433.74 -48.69% and the decrease in income tax expense in the
current period.
The reason for the change is the same as the
Net profit 296,744,863.23 502,038,920.14 -40.89%
operating profit.
Net profit attributable
to the owners of parent 274,158,181.04 428,261,135.32 -35.98% The reason for the change is the same as the
operating profit.
company
M inority shareholders’ The reason for the change is the same as the
22,586,682.19 73,777,784.82 -69.39%
equity operating profit.
YOY
Cash Flow Statement
Current period Last period increase or Reason
Items
decrease
Cash flow generated
M ainly due to the increase in goods payment by
by business operation, 652,190,382.77 84,191,460.06 674.65%
notes in the current period.
net
Net cash flow M ainly due to the increase in the net purchase of
generated by -15,199,662.79 175,648,596.47 -108.65% wealth management products, the increase in the
payment of land transfer fees and the purchase of
equity of Western Power in the current period.
investment
Net cash flow
M ainly due to the increase in net financing
generated by -164,553,923.15 -297,335,597.28 44.66% amount by bank loans during the current period.
Financing
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
Total number of common shareholders at the
10,903 the voting power recovered at the 0
period-end
end of the reporting period(if any)
Shares held by the top 10 shareholders
Pledging or
Amount of freezing
Properties Share tradable
Shareholder name of proporti Quantity shares with Status
Quant
shareholder on % of the
Conditional ity
shares
held
State-owned
Hangzhou Steam Turbine Holdings Co., Ltd. 58.68% 689,715,889 689,715,889
legal person
Guoxin Guotong（Hangzhou）Equity Investment
State-owned
Co., Ltd.－Hangzhou Qitong Equity Investment 5.00% 58,810,799 58,810,799
legal person
Partnership（LP）
Foreign
China M erchants Securities(HK)Co., Ltd. 0.73% 8,541,869 0
legal person
Domestic
Zhou Jie Natural 0.68% 7,974,500 0
person
GUOTAIJUNANSECURITIES（HONGKONG）
Foreign 0.67% 7,934,014 0
LIM ITED
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Hangzhou Steam Turbine Power Group Co., Ltd. The Third Quarterly Report 2023
legal person
Foreign
ISHARESCOREM SCIEM ERGINGM ARKETSETF 0.57% 6,744,734 0
legal person
VANGUARDTOTALINTERNATIONALSTOCKIN Foreign
0.56% 6,578,411 0
DEXFUND
legal person
VANGUARDEM ERGINGMARKETSSTOCKINDE Foreign
0.52% 6,144,344 0
XFUND
legal person
Foreign
NORGESBANK 0.33% 3,922,665 0
legal person
Domestic
Xia Zulin Natural 0.32% 3,810,000 0
person
Shares held by the Top 10 Shareholders of Non-restricted shares
Number of the Share type
Shareholders’ Names non-restricted
Share type Quantity
shares held
Foreign shares
placed in
China M erchants Securities(HK)Co., Ltd. 8,541,869 8,541,869
domestic
exchange
Foreign shares
placed in
Zhou Jie 7,974,500 7,974,500
domestic
exchange
Foreign shares
placed in
GUOTAIJUNANSECURITIES（HONGKONG）LIMITED 7,934,014 7,934,014
domestic
exchange
Foreign shares
placed in
ISHARESCOREM SCIEM ERGINGM ARKETSETF 6,744,734 6,744,734
domestic
exchange
Foreign shares
placed in
VANGUARDTOTALINTERNATIONALSTOCKINDEXFUND 6,578,411 6,578,411
domestic
exchange
Foreign shares
placed in
VANGUARDEM ERGINGMARKETSSTOCKINDEXFUND 6,144,344 6,144,344
domestic
exchange
NORGESBANK 3,922,665 Foreign shares 3,922,665
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Hangzhou Steam Turbine Power Group Co., Ltd. The Third Quarterly Report 2023
placed in
domestic
exchange
Foreign shares
placed in
Xia Zulin 3,810,000 3,810,000
domestic
exchange
Foreign shares
placed in
Wang Yihu 2,568,923 2,568,923
domestic
exchange
Foreign shares
VFTC INSTITUTIONAL TOTAL INTERNATIONAL STOCK M ARKET placed in
2,497,664 2,497,664
INDEX TRUST II domestic
exchange
(1)It is unknown to the Company if there is any relationship
among the top 10 common share holders without restriction. (2)
Explanation on associated relationship or concerted action of the Other Shareholders. is not an action-in-concert” party with any
above shareholders of other shareholders as described by the “Administration Rules
of Informational Disclosure about Change of Shareholding
Statues of PLCs”.
Note to the top 10 common stockholders involved in margin
Not applicable
financing & securities 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 Turbine Power Group Co., Ltd.
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Hangzhou Steam Turbine Power Group Co., Ltd. The Third Quarterly Report 2023
September 30,2023
In RMB
Items September 30,2023 January 1,2023
Current asset：
M onetary fund 2,426,432,971.01 1,954,980,787.90
Settlement provision
Outgoing call loan
Transactional financial assets 811,817,033.80 607,001,143.44
Derivative financial assets
Notes receivable 268,480,669.62 95,612,927.26
Account receivable 2,144,576,744.27 1,924,679,367.08
Financing receivable 786,910,803.81 817,555,768.45
Prepayments 847,867,256.64 401,523,615.49
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Other account receivable 36,614,897.69 25,366,963.26
Including：Interest receivable
Dividend receivable
Repurchasing of financial assets
Inventories 2,630,981,797.88 2,322,461,286.52
Contract assets 534,342,363.61 587,719,735.46
Assets held for sales
Non-current asset due within 1 year
Other current asset 13,107,910.76 78,949,731.48
Total of current assets 10,501,132,449.09 8,815,851,326.34
Non-current assets：
Loans and payment on other’s behalf disbursed
Creditor's Investment
Other Creditor's Investment
Long-term receivable 37,641,093.20 77,541,093.03
Long term share equity investment
Other equity instruments investment 3,034,127,297.96 3,556,127,694.48
Other non-current financial assets 5,534,773.22 5,534,773.22
Property investment 6,017,573.82 6,451,478.55
Fixed assets 1,886,776,892.70 1,926,594,610.89
Construction in progress 358,621,225.76 286,290,854.97
Production physical assets
Oil & gas assets
Use right assets 18,529,307.92 28,105,943.29
Intangible assets 409,585,639.50 274,844,788.47
Development expenses
Goodwill 8,417,413.42
Long-germ expenses to be amortized 301,009.18
Deferred income tax asset 344,177,092.37 352,734,092.61
Other non-current asset 31,327,604.47 44,922,954.47
Total of non-current assets 6,141,056,923.52 6,559,148,283.98
Total of assets 16,642,189,372.61 15,374,999,610.32
Current liabilities
Short-term loans 415,500,472.22 287,753,227.89
Loan from Central Bank
Borrowing funds
Transactional financial liabilities
Derivative financial liabilities
Notes payable 987,560,972.18 411,886,347.73
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Hangzhou Steam Turbine Power Group Co., Ltd. The Third Quarterly Report 2023
Account payable 1,369,318,954.20 1,202,915,727.29
Advance receipts 261,912.17 230,204.48
Contract liabilities 2,906,568,521.74 2,306,912,441.68
Selling of repurchased financial assets
Deposit taking and interbank deposit
Entrusted trading of securities
Entrusted selling of securities
Employees’ wage payable 90,614,260.09 139,014,673.58
Tax payable 31,431,527.13 73,385,124.09
Other account payable 177,886,465.54 203,788,336.85
Including：Interest payable
Dividend payable 90,000.00
Fees and commissions payable
Reinsurance fee payable
Liabilities held for sales
Non-current liability due within 1 year 52,616,618.63 42,802,886.86
Other current liability 376,052,339.30 267,585,963.69
Total of current liability 6,407,812,043.20 4,936,274,934.14
Non-current liabilities：
Reserve fund for insurance contracts
Long-term loan 199,700,000.00 159,903,673.86
Bond payable
Including：preferred stock
Sustainable debt
Lease liability 14,414,553.74 16,334,023.10
Long-term payable 15,920,261.38 11,104,088.21
Long-term remuneration payable to staff
Expected liabilities
Deferred income 1,090,298,649.78 877,381,129.85
Deferred income tax liability 400,108,883.96 474,809,014.19
Other non-current liabilities
Total non-current liabilities 1,720,442,348.86 1,539,531,929.21
Total of liability 8,128,254,392.06 6,475,806,863.35
Owners’ equity
Share capital 1,175,444,400.00 980,179,980.00
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 430,623,839.25 394,935,862.00
Less：Shares in stock 132,070,090.19 136,466,388.09
Other comprehensive income 2,246,697,269.25 2,690,397,606.30
Special reserve 17,763,262.40 17,841,325.92
Surplus reserves 625,178,089.82 625,178,089.82
Common risk provision
Retained profit 3,538,040,360.43 3,756,414,638.24
Total of owner’s equity belong to the parent company 7,901,677,130.96 8,328,481,114.19
M inority shareholders’ equity 612,257,849.59 570,711,632.78
Total of owners’ equity 8,513,934,980.55 8,899,192,746.97
Total of liabilities and owners’ equity 16,642,189,372.61 15,374,999,610.32
Legal Representative: Zheng Bin
Person in charge of accounting：Zhao Jiamao
Accounting Dept Leader: Lv Lin
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Hangzhou Steam Turbine Power Group Co., Ltd. The Third Quarterly Report 2023
2. Consolidated Income statement between the beginning of the year and end of the report period
In RMB
Items Amount in this period Amount in last period
I. Turnover 3,893,956,516.47 4,280,073,070.25
Including：Operating income 3,893,956,516.47 4,280,073,070.25
Interest income
Insurance fee earned
Commission charge and commission income
II. Total operating costs 3,746,938,857.85 3,912,108,993.85
Including ：Operating costs 2,934,355,128.61 3,085,529,193.43
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Appropriation of deposit for duty, net
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 11,995,352.30 14,403,727.96
Sales expense 191,227,664.28 125,538,455.52
Administrative expense 420,333,438.54 526,444,000.16
R & D expense 203,457,276.46 195,605,314.43
Financial expenses -14,430,002.34 -35,411,697.65
Including：Interest expense 15,183,489.95 20,382,889.46
Interest income 31,720,510.74 14,786,623.93
Add：Other income 57,915,397.17 43,254,619.27
Investment gain（“-”for loss） 116,608,588.69 127,857,624.09
Including: 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 -181,703.38 402,212.88
Credit impairment loss -36,415,626.10 -1,211,899.19
Impairment loss of assets 14,586,027.60 -1,384,104.99
Assets disposal income 83,594.86 -22,652.17
III. Operating profit（“-”for loss） 299,613,937.46 536,859,876.29
Add ：Non-operating income 39,509,472.81 45,722,943.12
Less: Non-operating expense 3,363,342.46 4,498,465.53
IV Total profit(“-”for loss) 335,760,067.81 578,084,353.88
Less：Income tax expenses 39,015,204.58 76,045,433.74
V Net profit 296,744,863.23 502,038,920.14
(I) Classification by business continuity
1.Net continuing operating profit 296,744,863.23 502,038,920.14
2.Termination of operating net profit
(II) Classification by ownership
1.Net profit attributable to the owners of parent company 274,158,181.04 428,261,135.32
2.M inority shareholders’ equity 22,586,682.19 73,777,784.82
VI. Net after-tax of other comprehensive income -443,700,337.05 331,468,541.19
Net of profit of other comprehensive income attributable to owners of the pa -443,700,337.05 330,793,916.69
rent company.
（I）Other comprehensive income items that will not be reclassified into
-443,700,337.05 330,464,312.90
gains/losses in the subsequent accounting period
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
10
Hangzhou Steam Turbine Power Group Co., Ltd. The Third Quarterly Report 2023
reclassified into profit or loss.
3. Changes in the fair value of investments in other equity instruments -443,700,337.05 330,464,312.90
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 329,603.79
1.Other comprehensive income under the equity method investee can be recl
assified 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 329,603.79
7.Other
Net of profit of other comprehensive income attributable to M inority
shareholders’ equity 674,624.50
VII. Total comprehensive income -146,955,473.82 833,507,461.33
Total comprehensive income attributable to the owner of the parent company -169,542,156.01 759,055,052.01
Total comprehensive income attributable minority shareholders 22,586,682.19 74,452,409.32
VIII. Earnings per share
（I）Basic earnings per share 0.24 0.37
(II)Diluted earnings per share 0.24 0.37
Legal Representative: Zheng Bin
Person in charge of accounting：Zhao Jiamao
Accounting Dept Leader: Lv Lin
3. Consolidated Cash Flow Statement Between the Beginning of the Year and End of the Report Period
In RMB
Items Amount in this period Amount in last period
I.Cash flows from operating activities
Cash received from sales of goods or rending of services 4,176,782,505.03 3,025,009,927.91
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 18,883,523.72 31,614,478.86
Other cash received from business operation 101,757,314.13 62,047,474.60
Sub-total of cash inflow 4,297,423,342.88 3,118,671,881.37
Cash paid for purchasing of merchandise and services 2,461,266,928.10 1,886,877,117.61
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
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Hangzhou Steam Turbine Power Group Co., Ltd. The Third Quarterly Report 2023
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 790,979,250.87 738,281,975.35
Taxes paid 147,802,885.66 231,543,286.34
Other cash paid for business activities 245,183,895.48 177,778,042.01
Sub-total of cash outflow from business activities 3,645,232,960.11 3,034,480,421.31
Net cash generated from /used in operating activities 652,190,382.77 84,191,460.06
II. Cash flow generated by investing
Cash received from investment retrieving
Cash received as investment gains 116,837,331.76 127,873,976.18
Net cash retrieved from disposal of fixed assets, intangible assets, and other
long-term assets 60,838,591.32 64,606.90
Net cash received from disposal of subsidiaries or other operational units
Other investment-related cash received 1,410,892,954.19 1,820,000,000.00
Sub-total of cash inflow due to investment activities 1,588,568,877.27 1,947,938,583.08
Cash paid for construction of fixed assets, intangible assets and other long-
term assets 199,731,585.69 140,289,986.61
Cash paid as investment
Net increase of loan against pledge
Net cash received from subsidiaries and other operational units 43,033,050.37
Other cash paid for investment activities 1,361,003,904.00 1,632,000,000.00
Sub-total of cash outflow due to investment activities 1,603,768,540.06 1,772,289,986.61
Net cash flow generated by investment -15,199,662.79 175,648,596.47
III.Cash flow generated by financing
Cash received as investment 21,252,800.00 166,906,400.00
Including: Cash received as investment from minor shareholders
Cash received as loans 400,499,527.78 234,300,000.00
Other financing –related cash received
Sub-total of cash inflow from financing activities 421,752,327.78 401,206,400.00
Cash to repay debts 226,000,000.00 187,300,000.00
Cash paid as dividend, profit, or interests 351,391,704.58 363,934,911.47
Including: Dividend and profit paid by subsidiaries to minor shareholders
Other cash paid for financing activities 8,914,546.35 147,307,085.81
Sub-total of cash outflow due to financing activities 586,306,250.93 698,541,997.28
Net cash flow generated by financing -164,553,923.15 -297,335,597.28
IV Influence of exchange rate alternation on cash and cash equivalents 7,514,698.92 30,241,961.35
V.Net increase of cash and cash equivalents 479,951,495.75 -7,253,579.40
Add: balance of cash and cash equivalents at the beginning of term 1,805,046,401.76 1,467,538,968.07
VI .Balance of cash and cash equivalents at the end of term 2,284,997,897.51 1,460,285,388.67
Legal Representative: Zheng Bin
Person in charge of accounting：Zhao Jiamao
Accounting Dept Leader: Lv Lin
（ii）The Company started implementing the updated accounting standards commencing from 2023 and
adjusted the relevant items in the financial statements at the beginning of the very year involved in the
initial implementation of the said standards
□Applicable √Not applicable
(iii) Audit report
Whether the First quarterly report has been audited or not
□Yes √ No
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Hangzhou Steam Turbine Power Group Co., Ltd. The Third Quarterly Report 2023
The Third quarterly report of the Company has not been audited.
The Board of Directors of Hangzhou Turbine Power Group Co., Ltd.
October 31, 2023
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