Stock Code: 200771           Stock ID: Hangqilun B              Announcement No.: 2025-15



                                       Hangzhou Turbine Power Group Co., Ltd.
                                         Preliminary Earnings Estimate of 2024


      The members of the Board and the Company acknowledge being responsible for the truthfulness,
      accuracy, and completeness of the announcement. There are no false records, misleading
      statements, or significant omissions carried in this announcement.


      Special Notice: This announcement contained only the preliminary of 2024 annual financial data,
      which is without audited; it may have difference between the final disclosed data. Investors please
      do concern the investment risk.


       Ⅰ. Highlights of accounting data and financial index of 2024 annual year.

                                                                                                         In RMB 10,000
                                                                                     Same period of        Increase or decrease
                        Items                          For this report period    the previous year           of changed (%)
             Total Operating profit                              657,442.79               592,423.80                    10.98%
                Operation profit                                     57,820.42             67,084.88                   -13.81%
                   Total profit                                      62,473.05             73,551.80                   -15.06%
Net profit attributable to the shareholders of the
                                                                     52,499.64             51,768.05                     1.41%
           listed company（Yuan）
  Net profit after deducting of non-recurring
  gain/loss attributable to the shareholders of                      40,310.81             36,200.69                    11.35%
           listed company（Yuan）
          Basic gains per share(Yuan)                                     0.45                    0.44                   2.27%
 Weighted average net asset earnings ratio (%)                          6.29%                 6.38%                     -0.09%

                                                      End of the reporting        Beginning of the         Increase or decrease
                                                            period                reporting period           of changed (%)

                  Gross assets                                  1,748,044.40            1,592,768.01                     9.75%
      Shareholders’ equity attributable to
                                                                  896,110.93              789,927.59                    13.44%
      shareholders of the listed company
                  Capital stock                                   117,500.96              117,544.44                    -0.04%
Net asset per share attributable to shareholders
                                                                          7.70                    6.84                  12.57%
          of the listed company(Yuan)

            II. Information of Operating performance and financial situation
            During the reporting period, the company's operating income increased year-on-year, mainly
due to the year-on-year increase in sales revenue of gas turbine products in this period; operating
profit and total profit decreased year-on-year, mainly due to the year-on-year decrease in sales
revenue of industrial drive steam turbine products with higher gross profit margin; net profit
attributable to shareholders of listed companies after deducting non-recurring gains and losses
increased year-on-year, mainly due to the year-on-year increase in investment income caused by
the increase in dividend income from Hangzhou Bank.
     III. Explanation of difference from previous performance forecast
     There is no previous performance forecast in the company.
     IV. Other notes
     This performance Announcement is the result of the company's preliminary calculation,
which is not audited by an accounting firm. The company's specific financial data will be
disclosed in detail in the 2024 Annual Report. Please be aware of the investment risks.
     V. Documents available for inspection
     1.The Comparative Balance Sheet and the Income Statement signed and sealed by the
Company’s legal representative, the person in charge of accounting and the person in charge of the
accounting department.


      This announcement is hereby made.


     The Board of Directors of Hangzhou Turbine Power Group Co., Ltd.


      February 14,2025