杭汽轮Ｂ：2020年年度报告（英文版）.PDF

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1、Hangzhou Steam Turbine Co.,Ltd. 2020 Annual Report 1 Stock Code: 200771 Stock ID: Hangqilun B Announcement No.: 2021-15 Hangzhou Steam Turbine Co., Ltd. 2020 Annual Report （Stock Code: 200771） April 2021 Hangzhou Steam Turbine Co.,Ltd. 2020 Annual Report 2 I. Important Remarks, Table of Contents, an

2、d Definitions 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

3、, accuracy and completeness of the Report. Chairman Mr. Zheng Bin, Chief Financial Officer Zhao Jiamao, and the Chief of Accounting Department Mr.Jin Can hereby declare: the Financial Statement in the report is guaranteed to be truthful and complete. All of the directors attended the board meeting o

4、n which this report was examined. This Report contains prospective descriptions, which doesnt constitute substantial commitment to investors. Investors are requested to be aware of the risks attached to their investment decisions. Please refer to the prospects for the future development of the compa

5、ny in Section 4 for the risks in the companys operations. The companys designated information disclosure media are: Shanghai Securities News (Chinese), Securities Times (Chinese), Hong Kong Commercial Daily (English), http:/ (In English and Chinese), all information of the company is subject to the

6、information published in the above selected media. Investors are advised to pay attention to investment risks. The companys designated information disclosure media are: In 2020, with the total share capital of 754,010,400 shares at the end of the year deducting 19,551,800 treasury shares repurchased

7、 as of date of record by Company, that is, 734,458,600 shares, the Company would distribute cash dividend to all the shareholders at the rate of CNY 2.5 for every 10 shares (with tax inclusive) , 0 bonus shares ， and no reserve would be converted into share capital. Hangzhou Steam Turbine Co.,Ltd. 2

8、020 Annual Report 3 Table of Contents I.Important Notice, Table of contents and Definitions II. Basic Information of the Company and Financial index III. Outline of Company Business IV. Managements Discussion and Analysis V. Important Events VI. Change of share capital and shareholding of Principal

9、Shareholders VII. Situation of the Preferred Shares VIII. Information about convertible corporate bonds IX. Information about Directors, Supervisors and Senior Executives X. Administrative structure XI. Corporate Bond XII. Financial Report XIII. Documents available for inspection Hangzhou Steam Turb

10、ine Co.,Ltd. 2020 Annual Report 4 Definition Terms to be defined Refers to Definition Company, the Company Refers to Hangzhou Steam Turbine Co., Ltd. The Group, Hangqi Group Refers to Hangzhou Steam Turbine Power Group Co., Ltd. Hangzhou SASAC Refers to State-owned Assets Supervision and Administrat

11、ion Commission of Hangzhou Municipal Peoples Government Hangzhou Capital Refers to Hangzhou State-owned Capital Investment and Operation Co., Ltd. The report period, the current period, the current year Refers to January 1 December 31 2020 Zhongneng Co. Refers to Hangzhou Zhongneng Steam Turbine Pow

12、er Co., Ltd. the holding subsidiary of the Company Casting Co. Refers to Hangzhou Steam Turbine Casting Co., Ltd. the holding subsidiary of the Company Packaged Tech. Co. Refers to Zhejiang Steam Turbine Packaged Technology Development Co., Ltd. the holding subsidiary of the Company Machinery Co. Re

13、fers to Hangzhou Steam Turbine Machinery Equipment Co., Ltd. - the holding subsidiary of the Company Auxiliary Machine Co. Refers to Hangzhou Steam Turbine Auxiliary Machinery Co., Ltd. - the holding subsidiary of the Company Turbine Co. Refers to Zhejiang Turbine Import & Export Co., Ltd. the holdi

14、ng subsidiary of the Company Heavy Industry Co. Refers to Hangzhou Steam Turbine Heavy Industry Co., Ltd. - the holding subsidiary of the Company The Board of Directors Refers to The Board of Directors of Hangzhou Steam Turbine Co., Ltd. The Supervisory Committee Refers to The Supervisory Committee

15、of Hangzhou Steam Turbine Co., Ltd. The Shareholders Meeting Refers to The Board of Directors of Hangzhou Steam Turbine Co., Ltd. RMB, RMB0000, RMB000000000 Refers to RMB Yuan, RMB10 thousand Yuan, RMB100 million Yuan MW Refers to Unit of power: 1000KW PLM Refers to Product life circle management in

16、formation system MES Refers to Manufacturing execution system ERP Refers to Enterprise Resources Planning WMS Refers to Warehouse management system Hangzhou Steam Turbine Co.,Ltd. 2020 Annual Report 5 II. Basic Information of the Company and Financial index I. Basic Information Stock ID Hangqilun B

17、Stock Code 200771 Stock Exchange Listed in Shenzhen Stock Exchange Company Name in Chinese 杭州汽轮机股份有限公司 Short form of Company Name in Chinese 杭汽轮 Name in English HANGZHOU STEAM TURBINE CO.,LTD Abbreviation in English HTC Legal representative: Zheng Bin Reg. Add. No. 357 Shiqiao Rd. Hangzhou Post Code

18、 310022 Office address No. 357 Shiqiao Rd. Hangzhou Post Code: 310022 Web Address Email. II. Contacts Secretary of the Board Representative of Stock Affairs Name Li Guiwen Wang Caihua Address No. 357 Shiqiao Rd. Hangzhou No. 357 Shiqiao Rd. Hangzhou Tel. 0571-85780058 0571-85780438 Fax. 0571-8578043

19、3 0571-85780433 Email. III. Place for information disclosure Press media for information disclosure Securities Times, Shanghai Securities Daily, Hong Kong Commercial Daily Web address for the annual report as assigned by CSRC. http:/ Place for inquiry of the annual report Securities and Law Office o

20、f Hangzhou Steam Turbine Co., Ltd. Hangzhou Steam Turbine Co.,Ltd. 2020 Annual Report 6 IV. Change of Business Registration Organization code 913300007042026204 Change of main business since listed The original scope of main businesses of the Company: The design and manufacturing of steam turbine, g

21、as turbine, other rotating and to-and-fro machinery and auxiliary equipment, and spare parts and components, sales of self-manufactured products and the providing of relevant after-sales service and import & export service. In July 2008, the business scope was modified to: Design and manufacturing o

22、f steam turbine, gas turbine, other rotating and to-and-fro machinery and auxiliary equipment, and spare parts and components, sales of self-manufactured products and the providing of relevant after-sales service; sales and import & export of power plant, industrial driving, industrial turbine equip

23、ment and complete equipment. For those involve in quota or licensing shall follow legal procedures. In March 2009, the business scope was modified to: Design and manufacturing of steam turbine, gas turbine, other rotating and to-and-fro machinery and auxiliary equipment, and spare parts and componen

24、ts, sales of self-manufactured products and the providing of relevant after-sales service; sales and import & export of power plant, industrial driving, industrial turbine equipment and complete equipment. In December 2016, the business scope was modified to: Design and manufacturing of steam turbin

25、e, gas turbine, other rotating and to-and-fro machinery and auxiliary equipment, and spare parts and components, sales of self-manufactured products and the providing of relevant after-sales service; sales and import & export of power plant, industrial driving, industrial turbine equipment ,complete

26、 equipment and Energy conservation and environmental protection projects. Change of holding shareholder (if any) Hangzhou Turbine Power Group Co., Ltd. is the controlling shareholder of the Company, and the actual controller of the Company is the State-owned Assets Supervision and Administration Com

27、mission of Hangzhou Municipal Peoples Government. During the reporting period, Hangzhou SASAC transferred 90% of the shares of the Company held by itself to its wholly-owned company Hangzhou State-owned Capital Investment and Operation Co., Ltd., thus Hangzhou Capital became the indirect controlling

28、 shareholder of the company, and neither the direct controlling shareholder nor the actual controller of the company changed. V. Miscellaneous information CPA hired by the Company Name of the CPA Pan-China Certified Public Accountants (Special general partnership) Address of the CPA B Unit, Huarun B

29、uilding, No.1366, Qianjiang Road, Jianggan District Hangzhou Name of CPA signed on the auditors report Sheng Weiming, Ye Xianbin The sponsor performing persist ant supervision duties engaged by the Company in the reporting period. Applicable Not applicable Hangzhou Steam Turbine Co.,Ltd. 2020 Annual

30、 Report 7 The Financial advisor performing persist ant supervision duties engaged by the Company in the reporting period Applicable Not applicable VI.Summary of Accounting data and Financial index Indicate by tick mark whether there is any retrospectively restated datum in the table below. Yes No 20

31、20 2019 Changed over last year（） 2018 Operating revenue（Yuan） 4,496,445,244.55 4,279,848,518.81 5.06% 4,642,807,589.69 Net profit attributable to the shareholders of the listed company（Yuan） 459,345,443.38 345,138,064.00 33.09% 345,824,339.47 Net profit after deducting of non-recurring gain/loss att

32、ributable to the shareholders of listed company（Yuan） 372,697,902.88 302,012,173.45 23.40% 280,075,101.48 Cash flow generated by business operation, net（Yuan） 454,416,600.69 432,255,831.23 5.13% 644,433,167.20 Basic earning per share(Yuan/Share) 0.62 0.46 34.78% 0.46 Diluted gains per share(Yuan/Sha

33、re) 0.62 0.46 34.78% 0.46 Net asset earning ratio（%） 6.24% 5.48% 0.76% 5.82% End of 2020 End of 2019 Changed over last year（） End of 2018 Gross assets（Yuan） 15,392,653,924.41 12,600,115,579.96 22.16% 11,569,169,903.81 Net assets attributable to shareholders of the listed company（Yuan） 8,104,788,941.

34、36 6,607,496,148.58 22.66% 6,007,540,929.16 The lower one of net profit before and after deducting the non-recurring gains/losses in the last three fiscal years is negative, and the audit report of last year shows that the ability to continue operating is uncertain Yes No The lower one of net profit

35、 before and after deducting the non-recurring gains/loses is negative Yes No VII.The differences between domestic and international accounting standards 1. Differences between the net profit and net asset in the financial reports prepared under IAS and Chinese Accounting Standard Applicable Not appl

36、icable No difference in the reporting period. 2. Differences between the net profit and net asset in the financial reports prepared under IAS and Chinese Accounting Standard Applicable Not applicable Hangzhou Steam Turbine Co.,Ltd. 2020 Annual Report 8 No difference in the reporting period. VIII.Mai

37、n Financial Index by Quarters In RMB First quarter Second quarter Third quarter Fourth quarter Operating revenue 697,880,677.71 1,323,786,748.56 1,271,363,320.01 1,203,414,498.27 Net profit attributable to the shareholders of the listed company -15,519,633.02 246,427,770.74 132,265,657.57 96,171,648

38、.09 Net profit after deducting of non-recurring gain/loss attributable to the shareholders of listed company -22,412,384.48 187,920,405.28 111,826,970.81 95,362,911.27 Net Cash flow generated by business operation 150,122,015.81 176,842,676.22 -117,174,042.01 244,625,950.67 Any material difference b

39、etween the financial indicators above or their summations and those which have been disclosed in quarterly or semi-annual reports? Yes No IX. Items and amount of non-current gains and losses Applicable Not applicable In RMB Items Amount (2020) Amount (2019) Amount (2018) Notes Non-current asset disp

40、osal gain/loss(including the write-off part for which assets impairment provision is made) -20,964,286.32 -12,341,200.47 -40,478.16 Tax refund, deduction and exemption that is examined and approved by authority exceeding or has no official approval document. 2,140,524.49 Governmental Subsidy account

41、ed as current gain/loss, except for those subsidies at with amount or quantity fixed by the national government and closely related to the Companys business operation. 38,013,637.22 44,701,311.40 23,300,479.35 Income from the exceeding part between investment cost of the Company paid for obtaining s

42、ubsidiaries, associates and joint-ventures and recognizable net assets fair value attributable to the Company when acquiring the investment 1,149,217.06 Debt restructuring profit or loss 3,350,920.00 -508,672.84 7,064,832.00 Hangzhou Steam Turbine Co.,Ltd. 2020 Annual Report 9 Gains or losses arisin

43、g from contingencies other than those related to normal operating business 32,202,504.57 -32,202,504.57 In addition to normal business with the company effective hedging related business, holders of tradable financial assets, transactions and financial liabilities arising from changes in fair value

44、gains and losses, as well as the disposal of trading of financial assets, trading financial liabilities and available-for-sale financial assets gains return on investment 53,211,692.31 74,013,529.88 48,433,535.22 Other non-operating income and expenditure beside for the above items -2,606,122.78 6,3

45、35,775.38 -1,703,546.21 Less: Influenced amount of income tax 12,239,646.17 17,931,245.32 11,452,856.21 Amount of influence of minority interests（After tax） 5,470,375.39 18,941,102.91 1,993,252.49 Total 86,647,540.50 43,125,890.55 65,749,237.99 - For the Companys non-recurring gain/loss items as def

46、ined in the Explanatory Announcement No.1 on information disclosure for Companies Offering their Securities to the Public-Non-recurring Gains and Losses and its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosure for Companies offering their se

47、curities to the public-non-recurring Gains and losses which have been defined as recurring gains and losses, it is necessary to explain the reason. Applicable Not applicable None of Non-recurring gain /loss items recorgnized as recurring gain /loss/items as defined by the information disclosure expl

48、anatory Announcement No.1- Non recurring gain/loss in the report period. Hangzhou Steam Turbine Co.,Ltd. 2020 Annual Report 10 III. Business Profile .Main Business the Company is Engaged in During the Report Period As the leading provider of turbo machinery equipment and relevant service in China, o

49、ur company is mainly famous for designing and producing rotating turbo machinery like industrial steam turbines and gas turbines. Our company, one of the major companies drafting the industrial standard in Chinese domestic industry of industrial steam turbine, has developed into the biggest base to

50、research, develop and produce industrial steam turbines in China and ranks first among industrial steam turbine producers in terms of the market occupancy. Holding the principle “our products should be based on clients demands” as our business mode and characteristic, our company designs and produce