Hangzhou Steam Turbine Co., Ltd. Third Quarterly Report 2021 Summary
Core Content
This report presents the financial performance and shareholder information of Hangzhou Steam Turbine Co., Ltd. for the third quarter of 2021. The company confirms the accuracy and completeness of the report and states that it has not undergone any retroactive adjustments or re-statements of previous accounting data.
Main Financial Data
Key Financial Indicators
| Item |
This Period (Yuan) |
YoY Change |
Year-End to Period-End (Yuan) |
YoY Change |
| Operating Income |
1,114,367,481.21 |
-12.35% |
4,080,387,932.28 |
23.91% |
| Net Profit (Shareholders) |
151,725,602.91 |
14.71% |
577,367,019.86 |
58.98% |
| Net Profit (Non-recurring) |
143,471,580.39 |
28.30% |
401,984,713.67 |
44.95% |
| Basic Earnings per Share |
0.20 |
11.11% |
0.77 |
60.42% |
| Diluted Earnings per Share |
0.20 |
11.11% |
0.77 |
60.42% |
| Weighted Average Return on Equity |
1.80% |
-0.12% |
6.95% |
1.73% |
| Gross Assets |
15,537,499,466.07 |
0.94% |
15,392,653,924.41 |
- |
| Net Assets (Shareholders) |
8,505,015,096.94 |
4.94% |
8,104,788,941.36 |
- |
Non-Current Gains and Losses
| Item |
This Period (Yuan) |
Year-End to Period-End (Yuan) |
Notes |
| Non-current asset disposal gain/loss |
-1,634,669.09 |
-74,706,946.57 |
- |
| Governmental Subsidy (non-operating) |
2,810,019.00 |
90,351,803.25 |
- |
| Other non-operating income and expenditure |
6,791,776.32 |
118,609,377.53 |
- |
| Non-operating income |
127,251,475.25 |
14,770,331.02 |
Cancellation of gas turbine contract, 109 million yuan compensation |
| Non-operating expenses |
83,696,721.67 |
12,482,460.91 |
Relocation losses |
| Gain from fair value change |
3,412,571.67 |
74,834,129.59 |
Change in fair value of stocks |
| Total profit |
743,637,832.55 |
505,926,151.00 |
46.99% increase |
| Income tax expenses |
96,929,021.29 |
63,090,730.25 |
53.63% increase |
| Net cash flow from operations |
-134,439,561.16 |
209,790,650.02 |
-164.08% decrease |
Shareholders Information
Total Shareholders
- Total common shareholders at the end of the period: 10,764
- Total preference shareholders with voting rights: 0
Top Ten Common Shareholders
| Shareholder Name |
Share Proportion (%) |
Share Quantity |
Notes |
| Hangzhou Steam Turbine Power Group Co., Ltd. |
63.64% |
479,824,800 |
State-owned legal person |
| GUOTAI JUNAN SECURITIES (HONGKONG) LIMITED |
0.95% |
7,174,515 |
Foreign legal person |
| China Merchants Securities (HK) Co., Ltd. |
0.73% |
5,467,368 |
State-owned legal person |
| VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND |
0.66% |
5,012,509 |
Foreign legal person |
| Zhou Jie |
0.61% |
4,621,400 |
Domestic natural person |
| VANGUARD EMERGING MARKETS STOCK INDEX FUND |
0.56% |
4,217,482 |
Foreign legal person |
| ISHARES CORE MSCI EMERGING MARKETS ETF |
0.52% |
3,898,263 |
Foreign legal person |
| NORGES BANK |
0.33% |
2,514,529 |
Foreign legal person |
| Xia Zulin |
0.31% |
2,320,000 |
Domestic natural person |
| Gu Yang |
0.21% |
1,568,324 |
Domestic natural person |
| Wang Yihu |
1,539,966 |
Foreign shares placed in domestic exchange |
- |
- No significant associated relationships or concerted actions among top 10 shareholders.
- No shares involved in margin financing or securities lending.
Other Significant Events
- 2021 Restricted Stock Incentive Plan
- Approved by the 8th Board of Directors and 8th Board of Supervisors.
- July 11, 2021: Draft plan and related proposals were approved.
- August 12, 2021: Approved by the Hangzhou SASAC.
- August 27, 2021: Shareholders' meeting approved the plan.
- August 30, 2021: The first granting of restricted stocks was approved.
- Grant date: September 1, 2021
- Number of shares: 18.17 million
- Grant price per share: HKD 6.825
- Number of incentive objects: 457
Quarterly Financial Statements
Consolidated Balance Sheet
| Item |
September 30, 2021 (Yuan) |
December 31, 2020 (Yuan) |
| Total Assets |
15,537,499,466.07 |
15,392,653,924.41 |
| Total Liabilities |
6,580,383,420.69 |
6,842,514,645.92 |
| Total Owners' Equity |
8,957,116,045.38 |
8,550,139,278.49 |
Consolidated Income Statement (Year-End to Period-End)
| Item |
Amount in this period (Yuan) |
Amount in last period (Yuan) |
| Operating Income |
4,080,387,932.28 |
3,293,030,746.28 |
| Operating Costs |
2,847,773,666.69 |
2,276,803,708.54 |
| Selling Expenses |
120,338,054.95 |
96,349,471.90 |
| Administrative Expenses |
466,012,443.27 |
374,224,300.64 |
| R&D Costs |
245,059,239.44 |
149,057,849.53 |
| Financial Expenses |
-12,881,126.27 |
-1,198,769.64 |
| Loss from asset impairment |
2,718,306.03 |
15,851,798.37 |
| Net profit (after non-recurring) |
143,471,580.39 |
401,984,713.67 |
| Net profit (attributable to shareholders) |
151,725,602.91 |
577,367,019.86 |
| Net cash flow from operations |
-134,439,561.16 |
209,790,650.02 |
| Net cash flow from investment |
87,938,282.17 |
-322,911,320.64 |
Notes
- The company's financial performance improved significantly compared to the same period in the previous year, with a notable increase in sales revenue and net profit.
- The significant increase in non-operating income is attributed to compensation for the cancellation of a gas turbine contract.
- The decrease in net cash flow from operations is primarily due to increased tax payments and employee compensation.
- The company has not experienced any significant non-recurring gains or losses.
- The financial statements are prepared in accordance with relevant accounting standards and regulations.
