Core Viewpoint - The supervisory board of Hangzhou Steam Turbine Power Group Co., Ltd. has approved the 2025 semi-annual report, confirming that the report accurately reflects the company's actual situation without any false records or misleading statements [1][2]. Group 1 - The 14th meeting of the 9th supervisory board was held on August 25, 2025, with all three supervisors present and voting [1]. - The meeting was chaired by Ms. Zhang Weijie, and the company secretary, Wang Gang, attended as a non-voting participant [1]. - The supervisory board unanimously approved the 2025 semi-annual report with three votes in favor and no votes against or abstentions [1]. Group 2 - The supervisory board concluded that the procedures for preparing and reviewing the semi-annual report complied with legal and regulatory requirements, ensuring the report's authenticity and completeness [1].

Core Viewpoint - Hangzhou Turbine Power Group Co., Ltd. reported its semi-annual financial results for 2025, showing a decline in key business income and net profit compared to the same period in 2024, indicating potential challenges in operational performance [1][5]. Financial Performance - Total assets increased to RMB 17,545.42 million as of June 30, 2025, compared to RMB 17,252.08 million at the beginning of the year, reflecting a growth of approximately 1.7% [1][3]. - Current assets totaled RMB 9,598.23 million, down from RMB 9,961.85 million at the start of the year, a decrease of about 3.6% [1][3]. - Net profit for the first half of 2025 was RMB 152.67 million, a decrease from RMB 180.94 million in the same period of 2024, representing a decline of approximately 15.6% [5][6]. Income and Costs - Key business income for the first half of 2025 was RMB 2,447.20 million, down from RMB 2,611.66 million in the first half of 2024, indicating a decrease of about 6.3% [4][5]. - Total business costs were RMB 2,342.93 million, compared to RMB 2,548.69 million in the previous year, showing a reduction of approximately 8.1% [4][5]. Cash Flow - Net cash generated from operating activities was negative at RMB -167.56 million for the first half of 2025, an improvement from RMB -333.59 million in the same period of 2024 [6][8]. - Cash flow from investing activities showed a net outflow of RMB -29.39 million, contrasting with a net inflow of RMB 143.40 million in the previous year [6][8]. Equity and Liabilities - Total liabilities decreased to RMB 7,616.18 million from RMB 7,735.09 million at the beginning of the year, a reduction of about 1.5% [3][4]. - Total owners' equity increased to RMB 9,929.24 million from RMB 9,516.99 million, reflecting a growth of approximately 4.3% [3][4].

Core Viewpoint - The documents provide detailed financial data regarding accounts receivable and other financial interactions between a listed company and its subsidiaries, highlighting significant amounts in operational transactions and the nature of these financial relationships. Group 1: Accounts Receivable - The total accounts receivable for the listed company and its subsidiaries amount to 32,925.79 million yuan, with a significant portion being operational transactions [3]. - Specific subsidiaries report substantial accounts receivable, such as Hangzhou Gas Turbine Machinery Co., Ltd. with 15,840.91 million yuan and Zhejiang Huayuan Gas Turbine Machinery Co., Ltd. with 1,966.92 million yuan [2][3]. - The operational transactions primarily involve sales of goods, indicating a strong revenue generation from these subsidiaries [2][3]. Group 2: Prepayments - The total prepayments recorded by the listed company and its subsidiaries stand at 2,300.54 million yuan, primarily for goods [3]. - Notable prepayments include Hangzhou Zhongneng Turbine Machinery Equipment Co., Ltd. with 139.50 million yuan and Zhejiang Turbine Import and Export Trade Co., Ltd. with 2,503.13 million yuan [3]. - These prepayments reflect ongoing business activities and commitments to suppliers, indicating a proactive approach in managing supply chain relationships [3]. Group 3: Other Receivables - Other receivables include amounts related to utility fees and other operational costs, with Hangzhou Gas Turbine Machinery Co., Ltd. reporting 5.84 million yuan for water and electricity fees [3]. - The total for other receivables across the subsidiaries is significant, reflecting various operational expenses that are yet to be settled [3]. - This category of receivables indicates the company's engagement in managing its operational costs effectively while maintaining relationships with service providers [3].

Core Points - The company held its ninth board meeting on August 25, 2025, where all nine directors participated, and the meeting was deemed legal and effective [1] - The board approved the 2025 semi-annual report, which reflects the company's financial status and operational results for the period from January 1, 2025, to June 30, 2025 [2] - The board also approved a proposal to lease company properties to its subsidiaries, with a lease term from July 1, 2025, to December 31, 2026 [2] Financial Report - The 2025 semi-annual report was unanimously approved by the board, indicating its objectivity and comprehensiveness in reflecting the company's financial condition and operational achievements [2] Property Leasing - The company agreed to lease properties, including office spaces and workshops, to its subsidiaries to enhance asset utilization and support their operations [2]

Company Profile & Financial Highlights - Hangzhou Turbine Power Group Co., Ltd. is a leading provider of turbo machinery equipment in China, specializing in the design and production of industrial steam turbines and gas turbines [10][11] - The company reported an operating revenue of approximately RMB 2.45 billion for the first half of 2025, a decrease of 6.30% compared to the same period last year [10][23] - The net profit attributable to shareholders decreased by 18.75% to RMB 0.13 per share [10][17] Management Discussion & Analysis - The company's main business model remains unchanged, focusing on customized solutions for clients in various industrial sectors [10][12] - The company has maintained a leading market share in the domestic industrial drive sector, with a strong reputation and brand influence [16][20] - The gas turbine business has expanded through collaboration with Siemens, enhancing the company's capabilities in distributed energy solutions [12][15] Financial Performance - The cash flow generated by business operations improved by 49.77%, indicating better recovery of goods payments [10][17] - The company experienced a significant increase in income tax expenses, rising by 403.94% due to deferred income tax expenses [10][17] - The total operating revenue composition shows that industrial steam turbines accounted for 80.99% of revenue, while gas turbines saw a significant decline of 65.94% [23] Key Events and Developments - The company has established strategic partnerships with major customers, enhancing its market position and customer value [20][22] - The company is actively involved in technological innovation and has established collaborations with universities and research institutions to advance its R&D capabilities [18][22] - The company has implemented cost control measures and optimized business processes to improve profitability amidst declining product margins [17][19]

Core Points - Hangzhou Turbine Power Group Co., Ltd. reported a decrease in operating revenue by 6.30% year-on-year, amounting to approximately 2.45 billion Yuan for the reporting period [1] - The net profit attributable to shareholders decreased by 16.78% year-on-year, totaling approximately 99.31 million Yuan [1] - The company experienced a significant improvement in cash flow generated by business operations, which improved by 49.77% compared to the previous year, resulting in a net cash flow of approximately -167.56 million Yuan [1] - Basic and diluted earnings per share decreased by 18.75% to 0.13 Yuan per share [1] - The net asset earning ratio declined by 0.67% to 1.65% [1] Company Information - The company is listed on the Shenzhen Stock Exchange under the stock code 200771 [1] - As of the end of the reporting period, the total gross assets were approximately 17.55 billion Yuan, reflecting a year-on-year increase of 1.70% [1] - The shareholders' equity attributable to shareholders of the listed company was not specified in the summary [1] - The total number of common shareholders at the end of the reporting period was 10,904 [1] Significant Events - The company plans to establish a joint venture, Lianyungang Zhonghang Gas Turbine Technology Co., Ltd., in collaboration with Jiangsu Yangjing Petrochemical Group Co., Ltd. to enhance its gas turbine technology capabilities [2] - A share transfer agreement was signed, where Hangzhou Qitong intends to transfer 35,286,479 non-tradable shares, accounting for 2.0022% of the company's total share capital, to Zhejiang Provincial Development Asset Management Co., Ltd. [4] - The company approved a proposal for the absorption and merger with Hangzhou Hirisun Technology Incorporated to improve resource allocation and operational efficiency [4]

Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025 compared to the same period in the previous year, indicating potential challenges in its financial performance [1]. Financial Performance - Operating revenue for the reporting period was approximately 2.45 billion yuan, a decrease of 6.30% from 2.61 billion yuan in the previous year [1]. - Net profit attributable to shareholders was approximately 153 million yuan, down 20.08% from 191 million yuan [1]. - The net cash flow from operating activities was negative at approximately -168 million yuan, an improvement of 49.77% compared to -334 million yuan [1]. - Basic earnings per share decreased by 18.75% to 0.13 yuan from 0.16 yuan [1]. - Diluted earnings per share also fell by 18.75% to 0.13 yuan [1]. - The weighted average return on equity decreased to 1.65% from 2.32%, a drop of 0.67% [1]. Asset and Equity Position - Total assets at the end of the reporting period were approximately 17.55 billion yuan, an increase of 1.70% from 17.25 billion yuan at the end of the previous year [1]. - Net assets attributable to shareholders increased by 4.80% to approximately 9.38 billion yuan from 8.95 billion yuan [1]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,904 [2]. - The largest shareholder, Hangzhou Turbine Holding Co., Ltd., holds 58.70% of the shares [3]. - Other significant shareholders include Zhejiang Provincial Investment Group Co., Ltd. with 3.00% and Zhejiang Development Asset Management Co., Ltd. with 2.00% [3]. Important Events - The company plans to establish a joint venture with Jiangsu Yangjing Petrochemical Group Co., Ltd. in Lianyungang [6]. - A share transfer agreement was completed, with 35,286,479 non-listed circulating shares transferred to Zhejiang Provincial Investment Group [6]. - The company is undergoing a major asset restructuring, including the absorption of its wholly-owned subsidiary, which aims to enhance operational efficiency [7].

The Semi-Annual Financial Report 2025 Stock Code: 200771 Stock ID: Hangqilun B Announcement No.:2025-86 Hangzhou Turbine Power Group Co., Ltd. I. Auditors' Report Whether the semi-annual financial report had been audited? □Yes No The Semi-annual Financial Report is not audited. The Semi-Annual Financial Report 2025 （Stock Code：200771） August 2025 1 The Semi-Annual Financial Report 2025 Financial Report II. The Financial Statements 1. Consolidated Balance Sheet The Semi-Annual Financial Report 2025 | Oil & g ...

2025 年 8 月 1 杭州汽轮动力集团股份有限公司 2025 年半年度财务报告 杭州汽轮动力集团股份有限公司 2025 年半年度财务报告 证券代码：200771 证券简称：杭汽轮B 公告编号：2025-86 杭州汽轮动力集团股份有限公司 2025 年半年度财务报告 （股票代码：200771） 财务报告 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 编制单位：杭州汽轮动力集团股份有限公司 2025 年 06 月 30 日 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 1,886,247,400.98 | 2,249,624,409.13 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | 533,952,254.92 | 669,850,839.08 | | 衍生金融资产 | | | | 应收票据 | 46,049,819.64 | 48,519,566.88 | | 应收账款 | 2,383, ...

单位：万元 | | | | | | 2025年1-6月占 | 2025 年 | 2025年1-6月偿 | 截止 | 2025 年 6 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占 | 资金占用方名称 | 占用方与上市公司 | 上市公司核算的 | 2025 年期初占 | 用累计发生金 | 1-6月占用 | 还累计发生金 | 月 30 | 日占用资 | 占用形成 | 占用性质 | | 用 | | 的关联关系 | 会计科目 | 用资金余额 | | 资金的利 | | | | 原因 | | | | | | | | 额（不含利息） | | 额 | | 金余额 | | | | | | | | | | 息（如有） | | | | | | | 控股股东、实际控 | | | | | | | | | | | | | 制人及其附属企 | | | | | | | | | | | | | 业 | | | | | | | | | | | | | 小计 | | | | | | | | | | | | | 前控 ...