Hangzhou Turbine Power Group Co., Ltd. Summary of the Semi-annual Report 2025
Stock Code: 200771 Stock ID: Hangqilun B Announcement No.:2025-85
Hangzhou Turbine Power Group Co., Ltd.
Summary of the Semi-Annual Report 2025
I. Important notes
This summary of the Semi-Annual Report is quoted out of the full text of the Semi- Annual Report. Investors
desirous to understand entirely the Company's operation results, financial position and future development
planning are advised to carefully read the full text of the Semi-Annual Report which is published in the medium
designated by CSRC.
All the directors attended the board meeting for the review of this Report.
Non-standard auditor’s opinion
□ Applicable √Not applicable
Preliminary plan for profit distribution to the common shareholders or turning the capital reserve into the share
capital for the reporting period, which has been reviewed and approved at the board meeting
□ Applicable √Not applicable
The company will distribute no cash dividends or bonus shares and has no reserve capitalization plan.
The preference share profit distribution pre-plan approved by the Board of Directors
□ Applicable √Not applicable
II. Basic information about the company
Stock ID Hangqilun B Stock Code 200771
Stock Exchange Listed Shenzhen Stock Exchange
Modified stock ID (if any) Not applicable
Contact person and contact manner Board secretary Securities affairs Representative
Name Wang Gang Li Xiaoyang
No.1188, Dongxin Road, Gongshu No.1188, Dongxin Road, Gongshu
Address District ,Hangzhou , Zhejiang District ,Hangzhou , Zhejiang
Tel. 0571-85780198 0571-85780438
Email. wg@htc.cn lixiaoyang@htc.cn
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□Yes √ No
This report term Same period last year YoY+/-（%）
Operating revenue（Yuan） 2,447,204,613.98 2,611,663,776.96 -6.30%
Net profit attributable to the shareholders of the
listed company（Yuan）
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of listed 99,309,046.13 119,328,064.24 -16.78%
company（Yuan）
Cash flow generated by business operation, net
-167,557,418.79 -333,585,603.57 49.77%
（Yuan）
Hangzhou Turbine Power Group Co., Ltd. Summary of the Semi-annual Report 2025
Basic earning per share(Yuan/Share) 0.13 0.16 -18.75%
Diluted gains per share(Yuan/Share) 0.13 0.16 -18.75%
Net asset earning ratio（%） 1.65% 2.32% -0.67%
As at the end of the As at the end of last
YoY+/-（%）
reporting period year
Gross assets (yuan) 17,545,420,432.17 17,252,082,445.96 1.70%
Shareholders’ equity attributable to shareholders
of the listed company（yuan）
In shares
Total Number of common shareholders
Total Number of common shareholders 10,904 at the end of the reporting period（If 0
at the end of the reporting period any）（See Note 8）
Shareholdings of Top 10 shareholders(Excludes shares lent through refinancing)
Number or share
Amount of pledged/frozen
Shareholders Proportion
Nature of of shares Number of shares
shareholder held at period -end restricted shares State of Amou
held（%）
share nt
held
State-owned Not
Hangzhou Turbine Holdings Co., Ltd. 58.70% 689,715,889 689,715,889 0
legal person applicable
Zhejiang Provincial Industrial Investment State-owned Not
Group Co., Ltd. legal person applicable
Zhejiang Provincial Development Asset State-owned Not
Management Co., Ltd legal person applicable
China Merchants Securities (HK)Co., Foreign legal Not
Ltd. person applicable
Domestic
Not
Zhou Jie Natural 0.73% 8,570,000 0 0
applicable
person
Domestic
Not
Xia Zulin Natural 0.61% 7,150,000 0 0
applicable
person
GUOTAI JUNAN SECURITIES Foreign legal Not
（HONG KONG） LIMITED person applicable
VANGUARD TOTAL
Foreign legal Not
INTERNATIONAL STOCK INDEX 0.50% 5,855,511 0 0
person applicable
FUND
VANGUARD EMERGING MARKETS Foreign legal Not
STOCK INDEX FUND person applicable
Foreign legal Not
NORGES BANK 0.33% 3,922,665 0 0
person applicable
(1) Hangzhou Turbine Holdings Co., Ltd. Has no relationship with other
shareholders;
(2) Zhejiang Industrial Investment Group Co., Ltd. and Zhejiang Development
Explanation on associated relationship among the aforesaid Asset Management Co., Ltd. belong to the common controlled enterprises
shareholders by Zhejiang State-owned Capital Operation Co., Ltd., and the two parties
are concert parties.
(3) Whether any association or acting-in-concert relationships exist among
other shareholders remains unknown.
Explanation on shareholders participating in the margin
Not applicable
trading business(if any )
Hangzhou Turbine Power Group Co., Ltd. Summary of the Semi-annual Report 2025
Information of shareholders holding more than 5% of the shares, the top 10 shareholders and the top 10
shareholders of unrestricted tradable shares participating in the lending of shares in securities lending and
borrowing business
□ Applicable √ Not applicable
The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed compared
with the previous period due to the securities lending/returning,
□ Applicable √ Not applicable
Change of the controlling shareholder in the reporting period
□ Applicable √ Not Applicable
There was no any change of the controlling shareholder of the Company in the reporting period.
Change of the actual controller in the reporting period
□ Applicable √ Not applicable
There was no any change of the actual controller of the Company in the reporting period.
□ Applicable √ Not applicable
No preference shareholders in the reporting period
□ Applicable √ Not applicable
III. Significant events
the construction of independent gas turbine testing and application demonstration bases, and accelerate the
implementation of demonstration base projects and industrial integration, the Company intends to jointly invest
in the establishment of a joint venture company ---Lianyungang Zhonghang Gas Turbine Technology Co., Ltd.,
with Jiangsu Yangjing Petrochemical Group Co., Ltd.-which is the enterprise authorized by the Management
Committee of the National East, Central and West Regional Cooperation Demonstration Zone (Lianyungang
Xuwei New Area) . For details, please refer to the announcement released by the Company on the website of
Cninfo(Announcement No.:2025-21).
Assets Company signed the "Share Transfer Agreement on the share of Hangzhou Turbine Power Group Co.,
Ltd.", and Hangzhou Qitong intends to transfer 35,286,479 non-tradable shares of the Company (accounting for
agreement, and transfer 23,524,320 non-tradable shares of the Company (accounting for 2.0022% of the
Company's total share capital) to Provincial Development Asset Company. On May 12, 2025, the Company
received the securities transfer registration confirmation document issued by China Securities Depository and
Hangzhou Turbine Power Group Co., Ltd. Summary of the Semi-annual Report 2025
Clearing Co., Ltd. forwarded by Hangzhou Qitong, and Hangzhou Qitong has completed the transfer
registration of the above-mentioned agreement to transfer the shares, with a transfer date of April 30, 2025.
which was detailed in the relevant announcement disclosed by the Company on Cninfo Information Network
(http://www.cninfo.com.cn) on April 2 2025 and May 13, 2025(Announcement No.:2025-22, 2025-63).
the "Proposal on the Share Exchange Absorption and Merger of Hangzhou Turbine Power Group Co., Ltd.by
Hangzhou Hirisun Technology Incorporated.namely the Related Party Transaction Plan” was deliberated and
approved, which was detailed in the relevant announcement disclosed by the Company on Cninfo Information
Network (http://www.cninfo.com.cn) on April 26, 2025; The Company held the second extraordinary
shareholders' general meeting in 2025 on June 6, 2025, in which the "Proposal on the Transaction in
Compliance with the Relevant Laws and Regulations on the Major Asset Restructuring of Listed Companies"
and other major asset restructuring-related proposals were deliberated and approved, and the content of which
was detailed in the relevant announcement published by the Company on Cninfo Information Network
(http://www.cninfo.com.cn) on June 7, 2025; On June 20, 2025, the Company received the "Notice on
Accepting the Application Document for the Share Exchange Absorption and Merger of Hangzhou Turbine
Power Group Co., Ltd. by Hangzhou Hirisun Technology Incorporated." (No. 90 [2025] SZSE Shangshen)
issued by the Shenzhen Stock Exchange forwarded by Hirisun,which was detailed in the relevant announcement
disclosed by the Company on Cninfo Information Network (http://www.cninfo.com.cn) on June 24, 2025.
general meeting in 2025 on July 7, 2025 and July 25, 2025 respectively, in which the "Proposal on the
Absorption Merger of Wholly-owned Subsidiary" was deliberated and approved . In order to improve the
efficiency of resource allocation, avoid overlapping investment, and continue to optimize the Company's overall
operational efficiency, the Company intends to absorb and merge the complete-set company through legal
procedures. After the completion of the absorption and merger, the independent legal personality of the
complete-set company will be cancelled, and all its assets (including qualifications), creditor's rights, debts and
businesses will be inherited by the Company in accordance with the law. which was detailed in the relevant
announcement disclosed by the Company on Cninfo Information Network (http://www.cninfo.com.cn) on July
Hangzhou Turbine Power Group Co., Ltd.
Chairman of the Board：Ye Zhong
August 26,2025
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