杭汽轮Ｂ：半报告（英文版） .ppt

,Hangzhou Steam Turbine Co.,Ltd.,Semiannual Report 2011(Full text),Stock Code:200771,Stock ID:Hangqilun B Announcement No.2011-28,二零一一年半年度报告SEMIANNUAL REPORT 2011Released on August 27,2011杭州汽轮机股份有限公司H A N G Z H O U S T E A M T U R B I N E C O.,LT D.1,Hangzhou Steam Turbine Co.,Ltd.,Semiannual Report 2011(Full text),Table of ContentsChapter I.Important Statement.3Chapter II.Company Profiles.4Chapter III.Changes in Share Capital&Particulars about Shareholders.7Chapter IV.Directors,Supervisors,and Executives.10Chapter V.Board of Directors Report.11Chapter VI.Important Events.14,Chapter VII.Financial Report,(Not Audited).22,Chapter VIII.Documents Ready for Inquiring.802,Hangzhou Steam Turbine Co.,Ltd.,Semiannual Report 2011(Full text),Chapter I.Important Statement1.The Board of Directors 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 forthe truthfulness,accuracy and completeness of the Report.2.This Interim Report 2011 was examined and adopted at the 10th meeting of the 5th term of Board.All of thedirectors at the meeting voted in favor of this report and none of the directors,supervisors,or executives of theCompany is holding uncertain opinion or disagreement over the truthfulness,accuracy,and completeness of theInterim Report 2011.3、All of the directors presented the Board meeting on which this report was examined.4 This report is prepared both in English and Chinese.When there is any conflict in understanding,the Chineseversion shall prevail.5.The financial statements carried in this report are not audited.6.Chairman Mr.Nie Zhonghai,General Manager Mr.Yan Jianhuan,Chief Financial Officer Mr.Bo Ronghua,andthe Chief of Accounting Department Mr.Wu Guomei hereby declares:the Financial Statement in the report isguaranteed to be truthful and complete.The Board of Directors ofHangzhou Steam Turbine Co.,Ltd.August 27 20113,1),2),3),4),5),6),7),Hangzhou Steam Turbine Co.,Ltd.,Semiannual Report 2011(Full text),Chapter II.Company Profiles(I)Company ProfileLegal Name of the CompanyName in Chinese:杭州汽轮机股份有限公司Name in English:HANGZHOU STEAM TURBINE CO.,LTDAbbreviation in English:HTCLegal Representative:Mr.Nie ZhonghaiSecretary of the Board:Mr.Yu ChangquanTel:(0571)85780432E-mail:Stock affair representative:Wang GangTel:(0571)85780198Email:Board of Directors Office:(0571)85780198,85784758Fax:(0571)85780433Registered Address and Office Address:357 Shiqiao Rd.,Hangzhou City,Zhejiang,ChinaPost Code:310022Website:http:/Shares Listed in:Shenzhen Stock ExchangeStock Abbreviation:Hangqilun B Stock Code:200771Presses Assigned by National Security Supervisory Committee for Information Disclosure:Website:http:/Press media:Securities Times,Shanghai Securities Daily,Hong Kong Commercial DailyReport prepared and ready for inquire at:Securities Office,Hangzhou Steam Turbine Co.,Ltd.Supplementary information:1.Primary business registration of the company was on April 23,1998 at Zhejiang Provincial BusinessAdministration.The latest renewing of registration was on May 6,2009 at Zhejiang Provincial Business Administration.2.Business license No.330000400001023.3.Tax registration No.3301657042026204.Organization code:7042026205.Public accountants employed:Certified public accountant:Pan-China(Zhejiang)Certified Public AccountantsOffice address:6-10/F Xihu Business Building,128 Xixi Road,HangzhouPost office:310007 Email:Tel:(0571)88216888 Fax:（0571）882169994,4.58%,7,200.00,-,s,Hangzhou Steam Turbine Co.,Ltd.,Semiannual Report 2011(Full text),(II)Financial highlights1 Financial indicesIn RMB Yuan,Ended this reportterm,Ended previousyear,Increase/decrease(%),Gross Assets(RMB)Owners equity attributable to the shareholders of thelisted company(yuan),6,625,150,594.84 6,092,332,507.212,999,581,039.60 2,868,211,238.68,8.75%,Capital shares(shares)Net asset per share attributable to the shareholders ofthe listed company(Yuan/share),628,342,000.004.77Report term(Jan-Jun),483,340,000.005.93Same period lastyear,30.00%-19.56%Increase/decrease(%),Turnover(yuan),2,077,039,987.91 1,840,515,550.97,12.85%,Business profit(RMB)Gross profit(RMB)Net profit attributable to shareholders of the listedcompany(yuan),475,789,730.69471,316,858.56324,705,800.92,364,532,652.81361,682,077.81255,824,821.46,30.52%30.31%26.93%,Net profit after deducting of non-recurring gain/loss,attributable to the shareholders of the listed company,327,076,310.57,257,610,164.37,26.97%,(RMB),Basic earnings per share(Yuan/share)Diluted earnings per share(Yuan/share)Weighted average of ROE(%)Weighted average netincome/asset ratio less non-recurring gain/loss(%)Net Cash flow generated by business operation(RMB)Net Cash flow per share generated by businessoperation(yuan/share),0.51680.516810.71%10.79%324,046,092.600.52,0.40710.407110.38%10.45%209,974,963.270.43,26.95%26.95%0.33%0.34%54.33%20.93%,2.Non-recurring profit/loss itemsIn RMB Yuan,Non-recurring gain and loss itemsGain/loss of non-current assetsGovernment subsidies accounted into current gain/loss account,other than thoseclosely related to the Company common business,comply with the national policyand continues to enjoy at certain fixed rate or amount.Other non-business income and expenditures other than the aboveInfluenced amount of minority shareholders equityInfluenced amount of income taxTotal,Amount-30,925.82-4,449,146.311,364,858.72737,503.76-2,370,509.65,Note(ifapplicable),5,Hangzhou Steam Turbine Co.,Ltd.,Semiannual Report 2011(Full text),3.Difference between domestic and international accounting standardIn RMB Yuan,Net profit attributable to theshareholders of the listed company,Owners equity to shareholders of thelisted company,Current term,Amount of last term,End of term,Beginning of term,On IASOn domestic accountingstandard,324,705,800.92324,705,800.92,255,824,821.46255,824,821.46,2,999,581,039.602,999,581,039.60,2,868,211,238.682,868,211,238.68,Individual and total of adjustment according to IASTotal of differences between,the IAS and domestic,0.00,0.00,0.00,0.00,accounting standardStatement on differencesbetween the IAS and Chinese No differenceAccounting Standard6,0,0,0,0,0,0,Hangzhou Steam Turbine Co.,Ltd.,Semiannual Report 2011(Full text),Chapter III.Changes in Share Capital&Particulars about ShareholdersI.Change of capital sharesAccording to the resolutions adopted at the Shareholders Annual Meeting 2010 held on May 11,2011,thedividend plan for year 2010 was:basing on the total capital share of 483,340,000 at end of 2010,3 bonus shareswill be distributed to each 10 shares(tax included)as capitalizing of retained profit,and RMB4.00(tax included)is distributed to each 10 shares.This dividend plan has been implemented on June 22,2011.Upon completion ofthis plan,the total capital share has increased to 628,3420,000 shares.II.Change of shareholding positionin shares,Before the change,Changed(+,-),After the change,Amount,Proportion,Issuing ofnew shares,Bonusshares,Transferredfrom reserves,Others Sub-total,Amount,Proportion,I.None negotiableshares1.PromoterssharesIncluding:State-owned shares,307,580,000307,580,000307,580,000,63.64%63.64%63.64%,0 92,274,0000 92,274,0000 92,274,000,0 92,274,000 399,854,0000 92,274,000 399,854,0000 92,274,000 399,854,000,63.64%63.64%63.64%,Domestic legalperson sharesOverseas legalperson sharesOthers2.Legal personshares placed3.Employeesshares4.Preference sharesor others,II.Negotiableshares,175,760,000,36.36%,0 52,728,000,0 52,728,000 228,488,000,36.36%,1.Common sharesin RMB,2.Foreign shares indomestic market,175,760,000,36.36%,0 52,728,000,0 52,728,000 228,488,000,36.36%,3.Foreign shares inoverseas market4.Others,III.Total of capitalshares,48,334,000,100.00%,0 145,002,000,0 145,002,000 628,342,000,100.00%,7,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,Hangzhou Steam Turbine Co.,Ltd.,Semiannual Report 2011(Full text),III.Top 10 shareholders and current-share holdersin shares,Total of shareholdersTop 10 Shareholders,15,731,Name of the shareholder,Properties ofshareholder,Shareproportion%,Total shares,Non-negotiableshares held,Pledged orfrozen,Hangzhou Steam Turbine Power Group Co.,Ltd.,State-ownedlegal person,63.64%399,854,000,399,854,000 118,300,000,SCHRODER INTL SELECTION FD-GREATER OverseasCN FD GTI 25287 person,legal,1.37%8,613,041,DREYFUS PREMIER INVESTMENT FDSINC.-DREYFUS GREATER CHINA FDGAOLING FUND,L.P.HTHK/BTDL-ASIAN MARKET LEADERSFUNDNORGES BANKBOCHK INVESTMENT FUNDS-BOCHKCHINA GOLDEN DRAGON FUNDTOYO SECURITIES ASIA LIMITED-A/CCLIENT.AUSTRALIANSUPER PTY LTDRENAISSANCE CHINA PLUS FUND,OverseaspersonOverseaspersonOverseaspersonOverseaspersonOverseaspersonOverseaspersonOverseaspersonOverseasperson,legallegallegallegallegallegallegallegal,1.06%6,658,8940.53%3,319,0830.46%2,901,3200.36%2,260,8470.34%2,157,7870.32%2,040,8480.28%1,756,9340.25%1,589,142,Top 10 Negotiable Share Holders,Name of the shareholder,Current shares held,Category of shares,SCHRODER INTL SELECTIONFD-GREATER CN FD GTI 25287DREYFUS PREMIER INVESTMENTFDS INC.-DREYFUS GREATER CHINAFDGAOLING FUND,L.P.HTHK/BTDL-ASIAN MARKETLEADERS FUNDNORGES BANKBOCHK INVESTMENT FUNDS-BOCHKCHINA GOLDEN DRAGON FUNDTOYO SECURITIES ASIA LIMITED-A/CCLIENT.AUSTRALIANSUPER PTY LTDRENAISSANCE CHINA PLUS FUNDGOVERNMENT OF SINGAPORE INV.CORP.-A/C C,8,613,041 Foreign shares placed in domestic exchange6,658,894 Foreign shares placed in domestic exchange3,319,083 Foreign shares placed in domestic exchange2,901,320 Foreign shares placed in domestic exchange2,260,847 Foreign shares placed in domestic exchange2,157,787 Foreign shares placed in domestic exchange2,040,848 Foreign shares placed in domestic exchange1,756,934 Foreign shares placed in domestic exchange1,589,142 Foreign shares placed in domestic exchange1,402,932 Foreign shares placed in domestic exchange,(1)Of top ten shareholders,Hangzhou Steam Turbine Group Co.,Ltd.holds shares onbehalf of the State and the others are to B-Share shareholders.(2)Hangzhou Steam Turbine Group Co.,Ltd.is not related to any of the other 9shareholders.It is unknown whether there is any relationship among the 9shareholders.(3)None of the other shareholders are regarded as Act in Concert relationshipaccording to the Administrative Regulations of Information Disclosing of PublicCompanies.Notes to relationship or“action in concert”(4)Hangzhou Steam Turbine Group Co.,Ltd.(HSTG)entered the share equity,among the top ten shareholders.,collateral contract with Communication Bank Zhejiang Branch on April 30,2010.Basing on the original“Highest Value Pledge Contract”,the collateral subject will stayunchanged at 91 million shares.In return,HSTG will have the annual credit up toRMB300 million.The collateral term will start from April 30,2010 and ended atMarch 31,2012.As of the report date,the total of capital shares of the Company was 628.342 millionshares,399.854 million were held by HSTG,the 118.3 million shares on pledge werestate-owned promoters shares,accounted for 29.60%of the shares held by HSTG,and18.83%of the Companys total capital shares.8,Hangzhou Steam Turbine Co.,Ltd.,Semiannual Report 2011(Full text),IV.Change of holding shareholder and substantial controllerNo change happened to the controlling shareholder and substantial controller.9,0,Hangzhou Steam Turbine Co.,Ltd.,Semiannual Report 2011(Full text),Chapter IV.Directors,Supervisors,and ExecutivesI.Change of shareholding of directors,supervisors and senior executives,Name,Position,Shares held at Amount of shares Amount of shares Shares held Incl.Share optionthe beginning of increased in the decreased in the at the end of Conditional held at endterm report term report term term shares of term,Cause ofchange,ZhangShutan,ViceGeneralManager,57,200,17,160,74,360,55,770,Bonus0 shares foryear 2010,II.Change of directors,supervisors and senior executivesThere is no change occurred to the directors,supervisors or senior managements of the Company10,Hangzhou Steam Turbine Co.,Ltd.,Semiannual Report 2011(Full text),Chapter V.Board of Directors ReportI.Business discussion1.Business overviewIn the first half of 2011,both domestic and global economies have become more complicated and variable.Thedomestic economy has been facing inflation,structural adjustment,and reconstruction policies,while the globaleconomy has been on a difficult recovering process.In the first year of the 12th five-year-plan,the Company hasbeen consolidating the market share of industrial steam turbine,reinforcing researching and developing of newproducts and technologies.According to the strategic plan,the Company has been expanding its industrial chainand exploring new markets.For the report term,the Companys business performance has been inclining steadily.We have realized turnoverof RMB2,077,039,987.91,an 12.85%of increase YOY;total profit of RMB471,316,858.56,an 30.31%ofincrease YOY;and net profit attributable to owners of the Company of RMB324,705,800.92,an 26.93%ofincrease YOY.In the report term,the Company achieved good performance both in production and sales.As of end of June,theCompany has engaged the ordering contracts with total value of RMB1.378 billion,increased by 9.71%over thesame period of last year.In which there were 153 units of industrial steam turbine,increased by 5.3%.Theheadquarter of the Company has realized the total output of RMB1.541 billion,increased by 5.1%over the sameperiod of last year,including 161 units/2.039 million KW of industrial steam turbine,increased by 5.2%and40.8%respectively over the same period of last year.In the report term,the Company has achieved a breakthrough in business expanding.During the period of the 11thfive-year-plan,the Company has sold out 10 gas turbines in domestic metallurgy industry through introducing oftechnologies from Mitsubishi.This has provided preconditions for steel makers to reduce energy consuming andpollution outlet.At the beginning of the 12th five-year-plan,the Company for the first time provided a wholeproject of gas turbine to steel makers,and laid a solid foundation for developing of the market.The air compressorbusiness has also achieved primary achievement by winning of bidding for the two recycled gas compressor unitsfrom Shanxi Pucheng Clean Energy Co.,Ltd.This was regarded as a historical breakthrough in the area ofcompressor business.In the report term,the Company continued to reinforce its marketing force.Firstly,in thermal power plant area,steam turbines for thermal power plant was in high market demand for increasing of energy price.Conferencesabout this area were held to reinforce loyalty of customers.In the first half of 2011,the orders in this areaincreased by 60%.Secondly,the Company has maintained the leading positions in petroleum,PTA,and coalchemistry industries,and tends to provide more large-scale products.Thirdly,the Company acceleratedconstruction of sales networks and established offices in multiple areas both overseas and home,aiming to collectmarket information and provide l