杭汽轮Ｂ：2016年年度报告（英文版）.PDF

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1、Hangzhou Steam Turbine Co.,Ltd.Annual Report 2016 1 Stock Code:200771 Stock ID:Hangqilun B Announcement No.2017-07 Hangzhou Steam Turbine Co.,Ltd.Annual Report 2016 Announcement on March 18,2017 Hangzhou Steam Turbine Co.,Ltd.Annual Report 2016 2 I.Important Remarks,Table of Contents,and Definitions

2、 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 co

3、mpleteness of the Report.Chairman Mr.Zheng Bin,Chief Financial Officer Pu Yangshuo,and the Chief of Accounting Department Mr.Zhao Jiamao hereby declare:the Financial Statement in the report is guaranteed to be truthful and complete.All of the directors attended the board meeting on which this report

4、 was examined.This Annual 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.The Company will not distribute cash dividend or bonus shares,neither capitalizing of

5、 common reserves for the report period.Hangzhou Steam Turbine Co.,Ltd.Annual Report 2016 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

6、 Events VI.Change of share capital and shareholding of Principal Shareholders VII.Situation of the Preferred Shares VIII.Information about Directors,Supervisors and Senior Executives IX.Administrative structure X.Corporate Bond XI.Financial Report XII.Documents available for inspection Hangzhou Stea

7、m Turbine Co.,Ltd.Annual Report 2016 4 Definition Terms to be defined Refers to Definition Company,the Company Defined as Hangzhou Steam Turbine Co.,Ltd.The Group,Hangqi Group Defined as Hangzhou Steam Turbine Power Group Co.,Ltd.the report period,the current period,the current year Defined as Janua

8、ry 1 December 31 2016 Zhongneng Co.Defined as Hangzhou Zhongneng Steam Turbine Power Co.,Ltd.the holding subsidiary of the Company Casting Co.Defined as Hangzhou Steam Turbine Casting Co.,Ltd.the holding subsidiary of the Company Packaged Tech.Co.Defined as Zhejiang Steam Turbine Packaged Technology

9、 Development Co.,Ltd.the holding subsidiary of the Company Machinery Co.Defined as Hangzhou Steam Turbine Machinery Equipment Co.,Ltd.-the holding subsidiary of the Company Auxiliary Machine Co.Defined as Hangzhou Steam Turbine Auxiliary Machinery Co.,Ltd.-the holding subsidiary of the Company Turbi

10、ne Co.Defined as Zhejiang Turbine Import&Export Co.,Ltd.the holding subsidiary of the Company Heavy Industry Co.Defined as Hangzhou Steam Turbine Heavy Industry Co.,Ltd.-the holding subsidiary of the Company The Board of Directors Defined as The Board of Directors of Hangzhou Steam Turbine Co.,Ltd.T

11、he Supervisory Committee Defined as The Supervisory Committee of Hangzhou Steam Turbine Co.,Ltd.The Shareholders Meeting Defined as The Board of Directors of Hangzhou Steam Turbine Co.,Ltd.RMB,RMB0000,RMB000000000 Defined as RMB Yuan,RMB10 thousand Yuan,RMB100 million Yuan MW Defined as Unit of powe

12、r:1000KW PLM Defined as Product life circle management information system BFPT Defined as Boiler Feeding Pump Turbine MES Defined as Manufacturing execution system Prompt of Risks Risks in the Companys business operation are described in the Directors Report in Chapter IV.The Companys official discl

13、osure presses:Hong Kong Commercial Daily(English),Shanghai Securities Daily(Chinese),Securities Times(Chinese),and http:/(Chinese&English).Please refer to these medias for the official disclosure of the Company and be aware of investment risks.Hangzhou Steam Turbine Co.,Ltd.Annual Report 2016 5 II.B

14、asic Information of the Company and Financial index I.Basic Information Stock ID Hangqilun B 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

15、 English HTC Legal representative:Zheng Bin Reg.Add.No.357 Shiqiao Rd.Hangzhou Post Code 310022 Office address No.357 Shiqiao Rd.Hangzhou Post Code:310022 Web Address E II.Contacts Secretary of the Board Representative of Stock Affairs Name Yu Changquan Wang Caihua Address No.357 Shiqiao Rd.Hangzhou

16、 No.357 Shiqiao Rd.Hangzhou Tel.0571-85780432 0571-85780438 Fax.0571-85780433 0571-85780433 E 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:/

17、 Place for inquiry of the annual report The Board of Directors Office of Hangzhou Steam Turbine Co.,Ltd.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 st

18、eam 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 Hangzhou Steam Turbine Co.,Ltd.Annual Report 2016 6 providing of relevant after-sales service and import&export service.In July 2008,the

19、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 components,sales of self-manufactured products and the providing of relevant after-sales service;sales and import&export of power p

20、lant,industrial driving,industrial turbine equipment 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 auxilia

21、ry 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 and complete equipment.In December 2016,the business scope was modified to:Design a

22、nd manufacturing of 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 turb

23、ine equipment,complete equipment and Energy conservation and environmental protection projects.Change of holding shareholder(if any)No change 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 U

24、nit,Huarun Building,No.1366,Qianjiang Road,Jianggan District Hangzhou Name of CPA signed on the auditors report Jiang Xiaodong,Zhu Guogang The sponsor performing persist ant supervision duties engaged by the Company in the reporting period.Not applicable The Financial advisor performing persist ant

25、supervision duties engaged by the Company in the reporting period Not applicable VI.Summary of Accounting data and Financial index May the Company make retroactive adjustment or restatement of the accounting data of the previous years due to change of the accounting policy and correction of accounti

26、ng errors.No 2016 2015 Changed over last year（）2014 Operating Gross income（RMB）3,235,303,379.24 2,600,072,151.63 24.43%3,722,331,920.13 Net profit attributable to the shareholders of the listed company（RMB）31,955,445.73-162,809,311.79 119.63%352,077,352.23 Hangzhou Steam Turbine Co.,Ltd.Annual Repor

27、t 2016 7 Net profit after deducting of non-recurring gain/loss attributable to the shareholders of listed company（RMB）-8,366,688.71-196,163,971.66 95.73%322,785,643.46 Cash flow generated by business operation,net（RMB）506,159,428.42 355,677,773.05 42.31%283,728,971.92 Basic earning per share(RMB/Sha

28、re)0.04-0.22 118.18%0.47 Diluted gains per share(RMB/Share)(RMB/Share)0.04-0.22 118.18%0.47 Net asset earning ratio（%）0.60%-3.77%4.37%8.12%End of 2016 End of 2015 Changed over last year（）End of 2014 Gross assets（RMB）10,550,899,708.34 7,683,777,005.63 37.31%7,552,058,947.02 Net assets attributable to

29、 shareholders of the listed company（RMB）6,385,346,243.23 4,219,337,312.80 51.34%4,450,598,244.32 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

30、Nil 2.Differences between the net profit and net asset in the financial reports prepared under IAS and Chinese Accounting Standard Nil VIII.Main Financial Index by Quarters In RMB First quarter Second quarter Third quarter Fourth quarter Operating income 687,834,749.02 679,589,022.86 874,410,620.01

31、993,468,987.35 Net profit attributable to the shareholders of the listed company 6,620,245.62-37,872,483.81-29,088,489.63 92,296,173.55 Net profit after deducting of non-recurring gain/loss attributable to the shareholders of listed company 2,908,791.39-46,387,105.72-36,516,519.69 71,628,145.31 Net

32、Cash flow generated by business operation 18,550,921.62 196,148,131.33 146,361,357.75 145,099,017.72 Not exist between the above financial index or the index with its sum and the financial index of the quarterly report as well as semi-annual report index disclosed by the Company.Hangzhou Steam Turbi

33、ne Co.,Ltd.Annual Report 2016 8 IX.Items and amount of non-current gains and losses In RMB Items Amount(2016)Amount(2015)Amount(2014)Notes Non-current asset disposal gain/loss(including the write-off part for which assets impairment provision is made)326,453.30-441,916.66 83,044.88 Govemment subsidi

34、es recognized in current gain and loss(excluding those closely related to the Companys business and granted under the states policies)16,968,792.22 15,752,977.27 12,268,275.22 Gains and losses from change of fair values of held-for-transaction financial assets and financial liabilities except for th

35、e effective hedge business related to normal business of the Company,and investment income from disposal of transactional financial assets and liabilities and financial assets available for sale 28,548,677.87 19,624,429.30 20,631,255.58 Other non-operating income and expenditure beside for the above

36、 items 7,345,994.24 12,164,381.63 7,401,855.41 Less:Influenced amount of income tax 8,701,193.64 8,553,255.35 8,283,775.86 Amount of influence of minority interests（After tax）4,166,589.55 5,191,956.32 2,808,946.46 Total 40,322,134.44 33,354,659.87 29,291,708.77-None of Non-recurring gain/loss items

37、recognized as recurring gain/loss/items as defined by the information disclosure explanatory Announcement No.1-Non recurring gain/loss in the report period.Hangzhou Steam Turbine Co.,Ltd.Annual Report 2016 9 III.Outline of Company Business I.Main Business the Company is Engaged in During the Report

38、Period The company does not need to comply with the disclosure requirements of the special industry As the leading provider of turbo machinery equipment and relevant service in China,our company is mainly famous for designing and producing rotating turbo machinery like industrial steam turbines and

39、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 research,develop and produce industrial steam turbines in China and ranks first among industrial steam turbine producer

40、s 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 produces in accordance with every clients personal demands so as to meet personalized needs in engineering projects to the utmost.T

41、o realize the fast research and development of our products,our company has adopted the advanced modular design technique and,on the other hand,introduces information technique to assist the collaborative production to achieve the resource saving and flexible production.In addition,our company also

42、provides our clients with relevant service such as engineering programs,general engineering contracting,operation and maintenance of our products as well as remote control and so on.Industrial steam turbines use the steam featuring high temperature and high pressure as their working medium so as to

43、convert the thermal energy into mechanical energy to drive various industrial equipments through the rotating steam turbines.As for different objects driven by industrial steam turbines,the steam turbines could be divided into industrial driving steam turbines and industrial power-generation steam t

44、urbines.Mainly driving rotating machines like compressors,air blowers,pumps and squeezers,industrial driving steam turbines,as the core power part in numerous large-scale industrial equipments,are always introduced into some industries like oil refining,chemical engineering,chemical fertilizer,build

45、ing materials,metallurgy,electric power,light industry and environmental production.The industrial power-generation steam turbines,mainly utilized to drive electric generators and provide thermal energy,are mainly adopted in private stations,regional projects of combined heat and power generation,po

46、wer generation by recycling waste heat in industrial production,urban waster power plants and gas-steam combined cyclepower stations in various industrial sectors.The gas turbines produced by our company are mainly used by metallurgical industry to recycle the waste heat from the blast furnace exhau

47、st to generate power.The mode of independent sales and cooperative productions is adopted in the sector of gas turbine business.We win our orders by participating in bidding for engineering equipments needed in new or reconstruction projects in domestic large-scale metallurgical industry.Our design

48、for products is provided by technical partner,major parts of our products are systematically produced and purchased in China and some parts are imported overseas.In the report period,our company cooperating with SIEMENS in the field of distributed energy of gas has started our gas turbine business a

49、s the purchaser and implementor of integration of the project.Our company provides life-long operation guarantee service for our clients who have purchased our gas turbines,which has brought long-term business cooperation between our company and our clients.As the major producer of industrial equipm

50、ents in China during the report period,our company is mainly Hangzhou Steam Turbine Co.,Ltd.Annual Report 2016 10 benefited from the following factors in terms of the elements driving our business performance:1.On the basis of market demands.The relevant market demands fluctuate differently due to v