Hangzhou Turbine Power Group Co., Ltd. - First Quarter Report of 2025 Summary
Core Content Overview
This report provides the financial performance and shareholder information for Hangzhou Turbine Power Group Co., Ltd. for the first quarter of 2025. It includes key financial data, non-current gains and losses, material changes in accounting items, and details of the consolidated financial statements.
Main Financial Data
Key Accounting Data and Financial Indexes
| Item |
This Period (Yuan) |
Same Period Last Year (Yuan) |
Change (%) |
| Operating Revenue |
1,077,387,039.87 |
1,059,263,685.89 |
1.71% |
| Net Profit Attributable to Shareholders |
42,311,098.33 |
9,663,903.49 |
337.83% |
| Net Profit After Non-recurring Items |
22,632,211.73 |
-6,160,934.41 |
467.35% |
| Net Cash from Operating Activities |
-303,068,122.37 |
-364,441,664.54 |
16.84% |
| Basic Earnings Per Share |
0.04 |
0.01 |
300.00% |
| Diluted Earnings Per Share |
0.04 |
0.01 |
300.00% |
| Weighted Average Return on Equity |
0.47% |
0.12% |
0.35% |
Material Changes in Balance Sheet and Income Statement Items
Balance Sheet Items
| Item |
End of This Period (Yuan) |
End of Last Period (Yuan) |
Change (%) |
Remarks |
| Receivable Financing |
811,901,937.08 |
598,790,851.05 |
35.59% |
Increase in bank acceptance bill collection |
| Other Non-current Accounts |
0.00 |
662.72 |
-100.00% |
Transfer of prepaid projects and equipment |
| Taxes Payable |
41,139,197.01 |
9,273.70 |
-55.64% |
Payment of real estate tax, land use tax, etc. |
| Loan-term Loans |
455,891,229.83 |
327,281,400 |
39.30% |
Increase in long-term bank loans |
| Long-term Payable |
37,617,230.30 |
24,903,900 |
51.05% |
Receipt of provincial science and technology development funds |
| Lease Liability |
15,096,950.24 |
6,691,000 |
125.63% |
New lease contracts signed |
Income Statement Items
| Item |
This Period (Yuan) |
Last Period (Yuan) |
Change (%) |
Remarks |
| Financial Expenses |
-1,252,758.51 |
-130,577.09 |
-859.26% |
Increase in net foreign exchange income |
| Impairment Loss on Assets |
-4,883,113.88 |
3,654,253.83 |
-233.63% |
Increase in contract asset impairment provision |
| Credit Impairment Loss |
-5,685,187.44 |
-55,286,278.37 |
89.72% |
Increase in long-aged accounts receivable |
| Investment Income |
1,643,044.26 |
3,548,604.70 |
-53.70% |
Decrease in wealth management income |
| Operating Profit |
62,380,634.59 |
20,438,710.92 |
205.21% |
Decrease in credit impairment losses |
| Non-operating Income |
5,007,694.68 |
1,587,618.54 |
215.43% |
Increase in liquidated damages |
| Non-operating Expense |
1,363,384.04 |
705,351.97 |
93.28% |
Increase in quality compensation |
| Total Profit |
66,024,945.23 |
21,320,977.49 |
209.67% |
Same as operating profit |
| Net Profit |
44,244,988.30 |
-1,527,032.25 |
2997.51% |
Same as operating profit |
Non-current Gains and Losses
| Item |
Amount (Yuan) |
Note |
| Non-current asset disposal gain/loss |
342,415.09 |
Includes write-off of impaired assets |
| Government subsidy |
17,493,677.95 |
From Shiqiao Road factory relocation and other subsidies |
| Fair value change gain/loss |
1,830,496.07 |
Mainly from investment income of bank wealth management products |
| Impairment provision reversal |
1,500,000.00 |
For account receivable treated with separate depreciation test |
| Other operating income/expenses |
4,118,518.19 |
From liquidated damages of contract cancellations |
| Less: Income tax |
3,573,338.71 |
- |
| Minority interests (after tax) |
2,032,881.99 |
- |
| Total |
19,678,886.60 |
- |
Shareholders Information
Total Shareholders
- Common shareholders: 10,954
- Preference shareholders with voting rights: 0
Top 10 Shareholders (Excluding Refinancing Shares)
| Shareholder |
Share Proportion (%) |
Quantity (Shares) |
Amount of Tradable Shares (Yuan) |
| Hangzhou Turbine Holdings Co., Ltd. |
58.70% |
0 |
689,715,889 |
| Hangzhou Qitong Equity Investment Partnership (LP) |
5.01% |
0 |
58,810,799 |
| China Merchants Securities (HK) Co., Ltd. |
0.83% |
9,801,561 |
9,801,561 |
| Zhou Jie |
0.72% |
8,471,000 |
8,471,000 |
| Xia Zulin |
0.58% |
6,827,396 |
6,827,396 |
| GUOTAI JUNAN SECURITIES (HONG KONG) LIMITED |
0.57% |
6,692,957 |
6,692,957 |
| VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND |
0.50% |
5,855,511 |
5,855,511 |
| VANGUARD EMERGING MARKETS STOCK INDEX FUND |
0.45% |
5,232,723 |
5,232,723 |
| NORGES BANK |
0.33% |
3,922,665 |
3,922,665 |
| Gu Yang |
0.24% |
2,860,043 |
2,860,043 |
Share Type Details
- Non-restricted tradable shares: Top 10 shareholders include foreign legal persons and natural persons.
- Shareholder Relationships: No known associations or acting-in-concert relationships among top shareholders.
Important Matters
- No significant matters are reported as applicable.
Quarterly Financial Statements
Consolidated Balance Sheet (March 31, 2025)
- Total Assets: 17,380,810,644.65 Yuan (up 0.75% YoY)
- Total Liabilities and Equity: 17,380,810,644.65 Yuan
- Key Items:
- Monetary Fund: 2,014,645,230.70 Yuan (down 10.88% YoY)
- Transactional Financial Assets: 611,969,157.56 Yuan (down 8.93% YoY)
- Account Receivable: 2,335,707,823.98 Yuan (down 6.50% YoY)
- Financing Receivable: 811,901,937.08 Yuan (up 35.59% YoY)
- Total Current Assets: 10,148,413,412.16 Yuan
- Total Non-current Assets: 7,232,397,232.49 Yuan
- Total Liabilities: 7,854,827,613.77 Yuan
- Total Equity: 9,525,983,030.88 Yuan
Consolidated Income Statement
- Operating Revenue: 1,077,387,039.87 Yuan (up 1.71% YoY)
- Operating Cost: 1,030,631,197.52 Yuan
- Operating Profit: 62,380,634.59 Yuan (up 205.21% YoY)
- Total Profit: 66,024,945.23 Yuan (up 209.67% YoY)
- Net Profit: 44,244,988.30 Yuan (up 2997.51% YoY)
- Basic Earnings Per Share: 0.04 Yuan (up 300.00% YoY)
- Diluted Earnings Per Share: 0.04 Yuan (up 300.00% YoY)
Consolidated Cash Flow Statement
- Net Cash from Operating Activities: -303,068,122.37 Yuan
- Net Cash from Investing Activities: -4,455.58 Yuan
- Net Cash from Financing Activities: 12,259.95 Yuan
- Net Cash Flow: -303,068,122.37 Yuan (up 16.84% YoY)
Key Notes
- The financial information is confirmed to be authentic, accurate, and complete.
- No retroactive adjustments or re-statements were made to previous accounting data.
- The quarterly report is not audited.
- No items defined as recurring profit/loss are included.
- Shareholder changes occurred due to securities lending and borrowing activities.
