[一季报]杭汽轮Ｂ(200771):2025年第一季度报告（英文）
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时间：2025年04月30日 02:10:55 中财网 |
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原标题:杭汽轮Ｂ:2025年第一季度报告（英文）
Stock Code：200771 Stock ID: Hangqilun B Announcement No.:2025-57
Hangzhou Turbine Power Group Co., Ltd.
The First Quarter Report of 2025
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 in
this announcement.
Important notes
1.The Board of Directors and the Supervisory Committee of the Company and its directors, supervisors and
senior executives should guarantee the reality, accuracy and completion of the quarterly report, there are no
fictitious statements, misleading statements or important omissions carried in this report, and shall take legal
responsibilities, individual and or joint.
2. Person in charge of the Company, Person in charge of accounting and person in charge of accounting organ
(accounting officer) hereby confirm that the financial information of this Quarterly Report is authentic, accurate
and complete.
3. The first quarterly report 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
| | This period | Same period of last year | Changes of this
period over same
period of last year
（％） | | Operating revenue（Yuan） | 1,077,387,039.87 | 1,059,263,685.89 | 1.71% | | Net profit attributable to the shareholders of the
listed company（Yuan） | 42,311,098.33 | 9,663,903.49 | 337.83% | | Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of listed
company（Yuan） | 22,632,211.73 | -6,160,934.41 | 467.35% | | Net cash generated from /used in operating
activities（Yuan） | -303,068,122.37 | -364,441,664.54 | 16.84% | | Basic earning per share(Yuan/Share) | 0.04 | 0.01 | 300.00% | | Diluted earnings per share(Yuan/Share) | 0.04 | 0.01 | 300.00% | | Weighted average return on equity（%） | 0.47% | 0.12% | 0.35% | | | End of this period | End of last period | Changes of this
period-end over
same period-end of
last year(%) | | Total assets（Yuan） | 17,380,810,644.65 | 17,252,082,445.96 | 0.75% | | Net assets attributable to the shareholders of the
listed company（Yuan） | 8,961,694,495.23 | 8,954,601,724.44 | 0.08% |
(II)Items and amount of non-current gains and losses
√ Applicable □ Not applicable
In RMB
| Items | Current amount | Note | | Non-current asset disposal gain/loss(including
the write-off part for which assets impairment
provision is made) | 342,415.09 | | | Government subsidy recognized in current gain
and loss(excluding those closely related to the
Company’s business and granted under the
state’s policies) | 17,493,677.95 | It is mainly due to the government
subsidies recognized by the
compensation for the relocation of
Shiqiao Road factory in the joint stock
company and other government subsidies | | Gain and loss from change of the fair value
arising from transactional monetary assets,
transactional financial liabilities as well as the
investment income arising from disposal of the
transactional monetary assets, transactional
financial liabilities and financial assets available
for sale excluding the effective hedging
transaction in connection with the Company’s
normal business | 1,830,496.07 | It is mainly due to the investment income
of bank wealth management products | | Switch-back of provision of impairment of
account receivable which are treated with
separate depreciation test | 1,500,000.00 | | | Operating income and expenses other than the
aforesaid items | 4,118,518.19 | Mainly due to the receiving liquidated
damages from customers for canceling
contracts | | Less: Influenced amount of income tax | 3,573,338.71 | | | Amount of interests of minority interests（After
tax） | 2,032,881.99 | | | Total | 19,678,886.60 | -- |
Details of other gains/losses items that meet the definition of non-recurring gains/losses: □ Applicable √ Not applicable
There are no other gains/losses items that meet the definition of non-recurring gains/losses in the Company.
Explain the items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss
in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public -
-- Extraordinary Profit/loss
□ Applicable √ Not applicable
There are no items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss
-- Extraordinary Profit/loss.
(III)Particulars about material changes in items of main accounting statement and financial index and
explanations of reasons
√ Applicable □Not applicable
In RMB 10,000
| | End of term | Beginning of
term | Scale of change | Remarks on the change | | Receivable financing | 81,190.19 | 59,879.09 | 35.59% | Mainly due to that the collection of
bank acceptance bills in the current
period is greater than the amount of
bill payment and maturity collection. | | Other Non-current accounts | 0.00 | 662.72 | -100.00% | Mainly due to the transfer of prepaid
projects and equipment from the
beginning of the period to the
construction in progress. | | Liabilities and owners’ equity | End of term | Beginning of
term | Scale of change | Remarks on the change | | Taxes payable | 4,113.92 | 9,273.70 | -55.64% | Mainly due to the payment in the
current period for the real estate tax,
land use tax and other taxes
provisioned at the end of the previous
year. | | Loan-term loans | 45,589.12 | 32,728.14 | 39.30% | Mainly due to the project of annual
output of 10 sets gas turbine units of
the joint-stock company, the annual
output of 15,000 tons of steel castings
and 40,000 tons of forging billet
production line project of Anhui
Casting and Forging Company, and the
project of the integrated industrial base
of energy-saving, carbon-reduction and
high-efficiency turbomachinery
intelligent manufacturing services of
Zhongneng Company, and the increase
in long-term bank loans. | | Long-term payable | 3,761.72 | 2,490.39 | 51.05% | Mainly due to the receipt of 11.21
million yuan of special funds for
provincial science and technology
development in 2025. | | Lease liability | 1,509.70 | 669.10 | 125.63% | Mainly due to the new lease contracts
signed in the current period. | | Income statement items | Current period | Last period | Year-on-year increase or
decrease | Reason | | Financial expenses | -125.28 | -13.06 | -859.26% | Mainly due to the YOY increase in net
foreign exchange income for the
current period. | | Impairment loss on assets(Loss is
listed with “-”) | -488.31 | 365.43 | -233.63% | Mainly due to the YOY increase in the
provision for impairment of contract
assets in the current period. | | Loss of credit impairment (Loss
is listed with “-”) | -568.52 | -5,528.63 | 89.72% | Mainly due to the increase in long-
aged accounts receivable and the
provision for bad debts of accounts
receivable was more in the same
period of last year. | | Investment income | 164.30 | 354.86 | -53.70% | Mainly due to the YOY decrease in
wealth management income. | | Operation profit | 6,238.06 | 2,043.87 | 205.21% | Mainly due to the YOY decrease in
credit impairment losses in the current | | | | | | | | Non-operating income | 500.77 | 158.76 | 215.43% | Mainly due to the YOY increase in
liquidated damages for the termination
of agreements between customers and
the Company. | | Non-operating expense | 136.34 | 70.54 | 93.28% | Mainly due to the YOY increase in the
expenditure of quality compensation. | | Total profit (Loss is listed with “-
”) | 6,602.49 | 2,132.10 | 209.67% | The reason for the change is the same
as operating profit | | Net profit (Net loss is listed with
“-”) | 4,424.50 | -152.70 | 2997.51% | The reason for the change is the same
as operating profit | | Net profit attributable to
shareholders of parent company | 4,231.11 | 966.39 | 337.83% | The reason for the change is the same
as operating profit | | Minority shareholders’ gains and
losses | 193.39 | -1,119.09 | 117.28% | Mainly due to the YOY increase in
income of held part by minority
shareholders. | | Cash Flow Statement Items | Current period | Last period | Year-on-year increase or
decrease | Reason | | Net cash flow generated by
investment | -4,455.58 | 16,591.90 | -126.85% | Mainly due to the YOY increase in net
purchases of wealth management
products. | | Net cash flow generated by
Financing | 12,259.95 | 7,809.11 | 57.00% | Mainly due to the YOY increase in net
bank loan financing. |
II. Shareholders Information
(1) Total number of common shareholders and preference shareholders with voting rights recovered and
top ten common shareholders
In shares
| Total number of common
shareholders at the period-end | 10,954 | Total preference shareholders with the voting power
recovered at the end of the reporting period(if any) | 0 | | | | | Top ten shareholders（Excluding shares lent through refinancing) | | | | | | | | Full name of Shareholders | Properties
of
shareholder | Share
proportion % | Quantity | Amount of
tradable shares
with Conditional
held | Pledging or freezing | | | | | | | | Status of
the shares | Quantity | | Hangzhou Turbine Holdings Co., Ltd. | State-
owned
legal
person | 58.70% | 0 | 689,715,889 | Not
applicable | 0 | | Hangzhou Qitong Equity Investment
Partnership（LP） | State-
owned
legal
person | 5.01% | 0 | 58,810,799 | Not
applicable | 0 | | China Merchants Securities(HK)Co., Ltd. | Foreign
legal
person | 0.83% | 9,801,561 | 0 | Not
applicable | 0 | | Zhou Jie | Domestic
Natural
person | 0.72% | 8,471,000 | 0 | Not
applicable | 0 | | Xia Zulin | Domestic
Natural
person | 0.58% | 6,827,396 | 0 | Not
applicable | 0 | | GUOTAI JUNAN SECURITIES
（HONG KONG） LIMITED | Foreign
legal
person | 0.57% | 6,692,957 | 0 | Not
applicable | 0 | | VANGUARD TOTAL
INTERNATIONAL STOCK INDEX
FUND | Foreign
legal
person | 0.50% | 5,855,511 | 0 | Not
applicable | 0 | | VANGUARD EMERGING MARKETS
STOCK INDEX FUND | Foreign
legal
person | 0.45% | 5,232,723 | 0 | Not
applicable | 0 | | NORGES BANK | Foreign
legal
person | 0.33% | 3,922,665 | 0 | Not
applicable | 0 | | Gu Yang | Domestic
Natural
person | 0.24% | 2,860,043 | 0 | Not
applicable | 0 | | Shares held by the Top 10 Shareholders of Non-restricted shares(Excluding shares lent through refinancing and Top management
lock-in stock) | | | | | | | | Shareholders’ name | Amount of unrestricted
shares held at Period-end | Type of shares | | | | | | | | Type | Amount | | | | | China Merchants Securities(HK)Co., Ltd. | 9,801,561 | Foreign shares
placed in
domestic
exchange | 9,801,561 | | | | | Zhou Jie | 8,471,000 | Foreign shares
placed in
domestic
exchange | 8,471,000 | | | | | Xia Zulin | 6,827,396 | Foreign shares
placed in
domestic
exchange | 6,827,396 | | | | | GUOTAI JUNAN SECURITIES（HONG KONG）
LIMITED | 6,692,957 | Foreign shares
placed in
domestic
exchange | 6,692,957 | | | | | VANGUARD TOTAL INTERNATIONAL STOCK
INDEX FUND | 5,855,511 | Foreign shares
placed in
domestic
exchange | 5,855,511 | | | | | VANGUARD EMERGING MARKETS STOCK
INDEX FUND | 5,232,723 | Foreign shares
placed in
domestic
exchange | 5,232,723 | | | | | NORGES BANK | 3,922,665 | Foreign shares
placed in
domestic
exchange | 3,922,665 | | | | | Gu Yang | 2,860,043 | Foreign shares
placed in
domestic
exchange | 2,860,043 | | | |
| VFTC INSTITUTIONAL TOTAL INTERNATIONAL
STOCK MARKET INDEX TRUST II | 2,847,664 | Foreign shares
placed in
domestic
exchange | 2,847,664 | | Wang Yihu | 2,756,323 | Foreign shares
placed in
domestic
exchange | 2,756,323 | | Explanation on associated relationship among the
aforesaid shareholders | (1) Hangzhou Turbine Holdings Co., Ltd. Has no relationship with other
shareholders;
(2) Hangzhou Turbine Holdings Co., Ltd. has no acting-in-concert
relationship with other shareholders;
(3) Whether any association or acting-in-concert relationships exist among
other shareholders remains unknown. | | | | Explanation on top 10 shareholders involving
margin business (if any) | Not applicable | | |
Information of shareholders holding more than 5% of the shares, the top 10 shareholders and the top 10
shareholders of unrestricted tradable shares participating in the lending of shares in securities lending and
borrowing business
□ Applicable √ Not applicable
The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed compared
with the previous period due to the securities lending/returning of shares in securities lending and borrowing
business
□ Applicable √ Not applicable
(2) Total shareholders with preferred stock held and shares held by top ten shareholders with preferred
stock held
□Applicable ?Not applicable
III. Important matters
□Applicable ?Not applicable
IV. Quarterly financial statements
（i）Financial statement
1. Consolidated balance sheet
Prepared by:Hangzhou Turbine Power Group Co., Ltd.
March 31,2025
| Item | Ending balance | Opening balance | | Current asset： | | | | Monetary fund | 2,014,645,230.70 | 2,249,624,409.13 | | Settlement provision | | | | Outgoing call loan | | | | Transactional financial assets | 611,969,157.56 | 669,850,839.08 | | Derivative financial assets | | | | Notes receivable | 53,131,597.94 | 48,519,566.88 | | Account receivable | 2,335,707,823.98 | 2,519,384,588.01 | | Financing receivable | 811,901,937.08 | 598,790,851.05 | | Prepayments | 437,655,768.71 | 343,519,043.23 | | Insurance receivable | | | | Reinsurance receivable | | | | Provisions of Reinsurance contracts receivable | | | | Other accounts receivable | 41,072,188.75 | 47,179,278.21 | | Including：Interest receivable | | | | Dividend receivable | | | | Repurchasing of financial assets | | | | Inventories | 2,791,033,855.11 | 2,557,564,668.61 | | Including： Data resources | | | | Contract assets | 996,457,284.48 | 856,704,611.36 | | Assets held for sale | | | | Non-Current asset due within 1 year | | | | Other current asset | 54,838,567.85 | 70,709,898.05 | | Total of current assets | 10,148,413,412.16 | 9,961,847,753.61 | | Non-current assets： | | | | Loans and payment on others’ behalf disbursed | | | | Creditor's Investment | | | | Other Creditor's Investment | | | | Long-term receivable | | | | Long term share equity investment | | | | Other equity instruments investment | 3,925,877,974.64 | 3,972,096,759.66 | | Other non-current financial assets | 5,534,773.22 | 5,534,773.22 | | Property investment | 5,078,779.72 | 5,161,268.80 | | Fixed assets | 1,893,009,996.06 | 1,912,357,802.93 | | Construction in progress | 889,547,891.67 | 867,580,986.71 | | Production physical assets | | | | Oil & gas assets | | | | Use right assets | 21,844,991.55 | 20,524,948.08 | | Intangible assets | 395,230,978.66 | 399,255,228.97 | | Including： Data resources | | | | Development expenses | | | | Including： Data resources | | | | Goodwill | 7,104,453.00 | 7,104,453.00 | | Long-term expenses to be amortized | | | | Deferred income tax asset | 89,167,393.97 | 93,991,276.20 | | Other non-current asset | | 6,627,194.78 | | Total of non-current assets | 7,232,397,232.49 | 7,290,234,692.35 | | Total of assets | 17,380,810,644.65 | 17,252,082,445.96 | | Current liabilities | | | | Short-term loans | 395,292,072.96 | 454,539,898.33 | | Loan from Central Bank | | | | Borrowing funds | | | | Transactional financial liabilities | | | | Derivative financial liabilities | | | | Notes payable | 656,005,975.27 | 637,585,272.90 | | Accounts payable | 1,759,853,295.29 | 1,686,388,594.36 | | Advance receipts | 261,912.17 | 445,971.37 | | Contract liabilities | 2,378,376,327.05 | 2,390,788,170.22 | | Selling of repurchased financial assets | | | | Deposit taking and interbank deposit | | | | Entrusted trading of securities | | | | Entrusted selling of securities | | | | Employees’ wage payable | 115,406,304.41 | 146,791,163.03 | | Tax payable | 41,139,197.01 | 92,736,952.39 | | Other account payable | 139,695,178.82 | 140,658,195.10 | | Including:Interest payable | | | | Dividend payable | | | | Fees and commissions payable | | | | Reinsurance fee payable | | | | Liabilities held for sale | | | | Non-current liability due within 1 year | 198,621,823.32 | 207,761,039.82 | | Other current liability | 332,533,947.36 | 271,340,714.20 | | Total of current liabilities | 6,017,186,033.66 | 6,029,035,971.72 | | Non-current liabilities： | | | | Reserve fund for insurance contracts | | | | Long-term loan | 455,891,229.83 | 327,281,413.06 | | Bond payable | | | | Including: preferred stock | | | | Sustainable debt | | | | Lease liability | 15,096,950.24 | 6,690,983.41 | | Long-term payable | 37,617,230.30 | 24,903,856.16 | | Long-term remuneration payable to staff | | | | Expected liabilities | | | | Deferred income | 1,024,275,892.56 | 1,035,380,701.74 | | Deferred income tax liability | 246,039,316.53 | 253,103,217.79 | | Other non-current liabilities | 58,720,960.65 | 58,696,860.00 | | Total non-current liabilities | 1,837,641,580.11 | 1,706,057,032.16 | | Total of liabilities | 7,854,827,613.77 | 7,735,093,003.88 | | Owners’ equity | | | | Share capital | 1,175,009,597.00 | 1,175,009,597.00 | | Other equity instruments | | | | Including: Preferred stock | | | | Sustainable debt | | | | Capital reserves | 390,514,378.36 | 387,396,850.42 | | Less:Shares in stock | 38,448,518.11 | 38,448,518.11 | | Other comprehensive income | 3,004,685,344.43 | 3,043,971,311.70 | | Special reserve | 25,514,978.28 | 24,564,866.49 | | Surplus reserves | 625,178,089.82 | 625,178,089.82 | | Common risk provision | | | | Retained profit | 3,779,240,625.45 | 3,736,929,527.12 | | Total of owner’s equity belong to the parent company | 8,961,694,495.23 | 8,954,601,724.44 | | Minority shareholders’ equity | 564,288,535.65 | 562,387,717.64 | | Total of owner’s equity | 9,525,983,030.88 | 9,516,989,442.08 | | Total of liabilities and owner’s equity | 17,380,810,644.65 | 17,252,082,445.96 |
Legal Representative: Ye Zhong Person in charge of Accounting Works: Zhao Jiamao Person in charge of Accounting Institution: Lv Lin
2.Consolidated Income Statement
In RMB
| Item | Current period | Last period | | I. Income from the key business | 1,077,387,039.87 | 1,059,263,685.89 | | Inc:Business income | 1,077,387,039.87 | 1,059,263,685.89 | | Interest income | | | | Insurance fee earned | | | | Fee and commission received | | | | II. Total business cost | 1,030,631,197.52 | 1,015,203,789.86 | | Inc:Business cost | 792,547,173.26 | 771,408,226.93 | | Interest expense | | | | Fee and commission paid | | | | Insurance discharge payment | | | | Net claim amount paid | | | | Net amount of withdrawal of insurance contract reserve | | | | Insurance policy dividend paid | | | | Reinsurance expenses | | | | Business tax and surcharge | 5,823,041.05 | 5,299,355.30 | | Sales expense | 56,380,597.80 | 61,957,512.86 | | Administrative expense | 133,866,392.70 | 141,589,338.23 | | R & D costs | 43,266,751.22 | 35,079,933.63 | | Financial expenses | -1,252,758.51 | -130,577.09 | | Including：Interest expense | 3,221,853.13 | 4,634,327.93 | | Interest income | 5,217,906.67 | 9,192,752.40 | | Add: Other income | 23,889,222.31 | 24,769,399.44 | | Investment gain（“-”for loss） | 1,643,044.26 | 3,548,604.70 | | Inc: 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 | 118,318.48 | -451,167.63 | | Credit impairment loss | -5,685,187.44 | -55,286,278.37 | | Impairment loss of assets | -4,883,113.88 | 3,654,253.83 | | Assets disposal income | 542,508.51 | 144,002.92 | | III. Operational profit（“-”for loss） | 62,380,634.59 | 20,438,710.92 | | Add :Non-operational income | 5,007,694.68 | 1,587,618.54 | | Less: Non-operating expense | 1,363,384.04 | 705,351.97 | | IV. Total profit(“-”for loss) | 66,024,945.23 | 21,320,977.49 | | Less:Income tax expenses | 21,779,956.93 | 22,848,009.74 | | V. Net profit | 44,244,988.30 | -1,527,032.25 | | (I) Classification by business continuity | | | | 1.Net continuing operating profit | 44,244,988.30 | -1,527,032.25 | | 2.Termination of operating net profit | | | | (II) Classification by ownership | | | | 1.Net profit attributable to the owners of parent company | 42,311,098.33 | 9,663,903.49 | | 2.Minority shareholders’ equity | 1,933,889.97 | -11,190,935.74 | | VI. Net after-tax of other comprehensive income | -39,285,967.27 | 254,203,317.61 | | Net profit of other comprehensive income attributable to owners
of the parent company. | -39,285,967.27 | 254,203,317.61 | | （I）Other comprehensive income items that will not be
reclassified into gains/losses in the subsequent accounting period | -39,285,967.27 | 254,203,317.61 | | 1.Re-
measurement of defined benefit plans of changes in net debt or n
et assets | | | | 2.Other comprehensive income under the equity method investee
cannot be reclassified into profit or loss. | | | | 3. Changes in the fair value of investments in other equity
instruments | -39,285,967.27 | 254,203,317.61 | | 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. | | | | 1.Other comprehensive income under the equity method investee | | | | can be reclassified 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 | | | | 7.Other | | | | Net profit of other comprehensive income attributable to minorit
y shareholders’ equity | | | | VII. Total comprehensive income | 4,959,021.03 | 252,676,285.36 | | Total comprehensive income attributable to the owner of the
parent company | 3,025,131.06 | 263,867,221.10 | | Total comprehensive income attributable to minority
shareholders | 1,933,889.97 | -11,190,935.74 | | VIII. Earnings per share | | | | （I）Basic earnings per share | 0.04 | 0.01 | | (II)Diluted earnings per share | 0.04 | 0.01 |
Legal Representative: Ye Zhong Person in charge of Accounting Works: Zhao Jiamao Person in charge of Accounting Institution: Lv Lin （未完）
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