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         Stock Code: 200771      Stock ID: Hangqilun B      Announcement No. 2020-36



                           Hangzhou Steam Turbine Co., Ltd.

        Announcement on the share repurchase ratio reaching 1% and the progress

                                        of the repurchase



The members of the Board and the Company 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.



 Hangzhou Steam Turbine Co., Ltd. held the second Provisional shareholders' general meeting of

2019 on December 10, 2019, in which the "Proposal on the share repurchase of the Company¡¯s

Shares" was reviewed and approved. And disclosed the "Company Repurchase Share Report"

£¨Announcement No.:2019-79£©.

According to the relevant provisions of the Implementation Rules of the Shenzhen Stock

Exchange on the share repurchase by Listed Companies, During the implementation of the

repurchase, For every 1% increase in the proportion of repurchased shares in the company ¡¯s tota

l share capital, it should be disclosed within three days from the date of the fact.The progress of

the company's share repurchase is announced as follows:

     As of May 25,2020,The Company brought back the 7,546, 422 Company's shares for the first

time through a special securities trading account for shares repurchase, and those shares account

for about 1% of the Company's total share capital, with the highest transaction price is 8.52 HKD /

share and the lowest transaction price is 7.22HKD / share and the total transaction amount is

60,765,548.86HKD.

     The company's repurchase is in compliance with the established repurchase plan disclosed by

the company and in accordance with the "Implementation Rules for the Repurchase of Shares by

Listed Companies on the Shenzhen Stock Exchange".

     The Company will continue to implement this repurchase plan during the repurchase

implementation period according to market conditions, and will promptly perform its information

                                                                                                 1
disclosure obligations in accordance with the relevant laws, regulations and regulatory documents.

Hereby, Investors are kindly requested to pay attention to investment risks.


This announcement is hereby made.

     The Board of Directors of Hangzhou Steam Turbine Co., Ltd.

     May 27,2020




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