Stock Code: 200771 Stock ID: Hangqilun B Announcement No. 2016-39
Hangzhou Steam Turbine Co., Ltd.
Report of the Supervisory Committee 2015
The members of the Supervisory Committee acknowledge being responsible for the truthfulness, accuracy, and
completeness of the announcement. Not any false record, misleading statement or significant omission carried in
this announcement.
To the Shareholders’ of the Company:
In year 2015, the Supervisory Committee had been performing its duties according to the
Company Law, Securities Law, the Articles of Association, and Meeting Criteria of Supervisory
Committee. Inspections were conducted regularly on the Company’s business operation, financial
position, and operation of the Board and executives, aimed at guarding the legal benefits of the
shareholders, the Company, and employees, and promote healthy development of the Company.
I. Meeting and examinations in the report period
In the report period, the Committee had held 4 regular or provisional meetings. A number of
issues were inspected and examined, including the periodic reports, financial reports, dividend
plans, introspection reports, routine related transactions, change of accounting policies, adding of
new related transactions.
Fulfilling of duties of the Supervisory Committee
No. of meeting Date of meeting Titles of proposals
Work Report of Supervisory Committee 2014;
Annual Report 2014 and Summary;
Financial Report 2014;
The 10th meeting of Dividend Plan 2014;
Introspective Report of Internal Control System 2014;
the 6th term of March 26，2015
Report of Related Transactions in 2014 and Projected for
Committee
Year 2015; Proposal on changing the company’s accounting
estimates.
The 11th meeting of
the 6th term of April 22， 2015 The 1st Quarterly Report 2015, and summary
Committee
The 12th meeting of
August 24，2015 Interim Report 2015 and Summary
the 6th term of
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Committee
The 13th meeting of
the 6th term of October 27， 2015 The 3rd Quarterly Report 2015, and Summary
Committee
II. Presenting of board meetings and shareholders’ meetings
The Committee presented 8 board meetings and 2 shareholders’ meeting during the report period.
Through participating of these meetings, the Committee acquired information about the
Company’s decision-making process and business management. Communications were made
effectively with the shareholders, directors, and executives. Flaws in operation were discovered on
time. The supervisors were exercising their duties at the meetings and performed inspection on
decision-making processes and risk-control approaches.
III. Fulfilling of duties in the report period
In year 2015, the Committee performed inspections on the following aspects in viewing of legal
operation and good economic efficiency.
1. Supervising on the business operation: The Supervisors participated in the meetings of the
Board and supervised the main decision-making procedures; verified the execution of resolutions
of the shareholders’ meeting and board meetings, as well as the major investment plans and
related transactions. The Committee also provided corresponding opinions and suggestions on the
business operation of the Company.
2. Inspection on financial activities: Inspection on business operation and financial position is
the key work of the Committee. The Committee urged the Company to improve its accounting
system and internal control system according to the Accounting Law and new accounting standard,
and thereafter supervised the change of accounting policies; supervised the processes of
accounting works; improvement opinions were provided according to the laws and regulations.
3. Supervising the executives: to perform effective supervising over the performances of the
directors and executives of the Company, the Supervisory Committee urged them to study the
laws and regulations to upgrade their sense of legal operation, therefore ensure legal operation of
the Company. All of the directors, supervisors, and executives were acting according to the law
without being punished by any department.
4. Supervising on inside information managementThe Company revised the Information Insider
Registration and Administration Rules according to the regulations of CSRC and SSE.
Information Insider Files were established covering all of the directors, supervisors, executives
and other insiders, and filed to SSE. This was for the effectiveness of confidential works and
information disclosure. No illegal trade was found with the aforesaid personnel in the report
period.
IV. Summary of the Committee’s opinion on particular issues
In the report period, the Committee had issued opinions on the periodic reports, introspective
report on internal control, related transactions, and change of accounting policies with regard to
the regulations and duties of the Committee. Specific as follows：
1. The opinions on the Annual Report 2014
All of the members considered the Annual Report 2015 is frankly and completely reflecting the
financial situation and business performance in the report term (January 1 – December 31, 2014).
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They will assume joint and individual responsibilities for the accuracy, authentic, and
completeness of the Report.
2. Supervisory Committee’s opinion on the Internal Control Introspection Report 2014
The Internal Control Introspection Report 2014 was reflecting the operation of the internal control
system objectively, frankly, and completely.
3. Related Transactions Occurred in 2014 and Projected for Year 2015
The related transactions was conducted strictly at the prices setout by the relative agreement
approved by the Shareholders’ Meeting, and complying with the related regulations and legal
procedures. Pricing of the related transactions was on fair and reasonable basis without illegal
operation, and no harming on the interests of the Company or the shareholder, especially the
mid-small shareholders.
4． The views of a change in accounting estimate
The company accounts receivable bad debts proportion of changes in accounting estimates, and
the actual situation in line with the provisions of relevant laws and regulations, after the change of
accounting estimate can be fair, appropriately reflect the company's financial position and
operating results. Changes in accounting estimates the company procedures comply with laws,
regulations and relevant regulations.
5. Opinions on the 1st Quarterly Report 2015，Interim Report 2015 and Summary and The 3rd
Quarterly Report 2015.
The producing and examination procedures of the 1st quarterly report 2015 ,Interim Report 2015
and Summary and The 3rd Quarterly Report 2015 were legal and complying with the requirements
of the CSRC. The Report is reflecting the financial position and business performance of the
Company in the 1st quarter frankly and completely. There is no false record, misleading statement,
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or material omission in the report.
The Supervisory Committee of Hangzhou Steam Turbine Co., Ltd.
March 19, 2016
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