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    Stock Code: 200771 Stock ID: Hangqilun B Announcement No. :2020-52
    
    Hangzhou Steam Turbine Co., Ltd.
    
    Announcement on the progress of the implementation of share repurchase
    
    The members of the Board and the Company acknowledge being responsible for thetruthfulness, accuracy, and completeness of the announcement. Not any false record, misleading
    
    statement or significant omission carried in this announcement.
    
    Hangzhou SteamTurbineCo.,Ltd.heldthesecondProvisionalshareholders'generalmeetingof
    2019 onDecember10,2019,inwhichthe"ProposalonthesharerepurchaseoftheCompany¡¯s
    Shares" wasreviewedandapproved.OnDecember10,2020.
    According totherelevantprovisionsoftheImplementationRulesoftheShenzhenStock
    Exchange onthesharerepurchasebyListedCompanies,Duringtheimplementationofthe
    repurchase, thecompanyshalldisclosetheprogressoftherepurchaseasoftheendoflastmonth
    within thefirstthreetradingdaysofeachmonth.Theprogressofthecompany'ssharerepurchase
    is announcedasfollows:
    
    
    As of August 31,2020,The Company brought back the 14,128,188 Company's shares for thefirst time through a special securities trading account for shares repurchase, and those shares
    
    account for about 1.87% 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 113,293,536.72 HKD.
    
    The company's repurchase is in compliance with the established repurchase plan disclosed by the
    
    company, The time for the Company to repurchase the shares, the number of repurchased shares,
    
    and the entrusted time period for centralized bidding transactions are all in line with the "Impleme
    
    ntation Rules for Listed Companies on the Shenzhen Stock Exchange to Repurchase Shares":
    
    1. Does not repurchase the Company¡¯s shares within the following period:
    
    (1) Within 10 trading days prior to the Company¡¯s periodic report, performance forecast or perfor
    
    mance announcement;
    
    (2) Within 2 trading days after the legal disclosure from the date of the occurrence of a major even
    
    t that may have a significant impact on the Company¡¯s stock trading price or during the decision-
    
    making process,
    
    (3) Other circumstances specified by the China Securities Regulatory Commission and the Shenzh
    
    en Stock Exchange.
    
    2. Since the date when the Company implements the share repurchase, the number of shares repur
    
    chased by the Company every five trading days has not exceeded one million shares.
    
    3. No entrustment of share repurchase was made during the following trading hours:
    
    (1) Open call auction;
    
    (2) Within half an hour before closing;
    
    (3) Where there is no limit on the rise or fall of stock prices.
    
    4. The price of the Company¡¯s repurchased shares does not reach the price limit for the trading inc
    
    rease of the Company¡¯s shares on the day.
    
    The Company will continue to implement this repurchase plan during the repurchase
    
    implementation period according to market conditions, and will promptly perform its information
    
    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.
    
    September 2,2020

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