《杭汽轮Ｂ：对外投资公告（英文版）》由会员分享，可在线阅读，更多相关《杭汽轮Ｂ：对外投资公告（英文版）（2页珍藏版）》请在金锄头文库上搜索。
1、Stock Code: 200771 Stock ID: Hangqilun B Announcement No. 2011-31Hangzhou Steam Turbine Co., Ltd.Announcement on External InvestmentThe members of the Board and the Company acknowledge being responsible for thetruthfulness, accuracy, and completeness of the announcement. Not any false record,mislead
2、ing statement or significant omission carried in this announcement.I. External Investment OverviewTo fulfill the Companys strategic plan of the 12th five-year-plan, make the Company leadingproducer of turbine equipment in the world, relief the stress of productivity shortness, theCompany is about to
3、 setup a fully-owned subsidiary Hangzhou Steam Turbine Machinery &Equipment Manufacturing Co., Ltd. (Temporary name, to be decided upon granting of businesslicense), with up to RMB1.2 billion of investment, to build a new steam turbine production base inHangzhou Qianjiang Economy and Technology Deve
4、lopment Zone. The new company will beregistered with capital of RMB300 million, and constructed on 700 mu (466900 square meters) ofland. Construction will include workshops, processing, assembling and testing equipment,supporting facilities, and residential and office facilities. The construction wi
5、ll be completed withseveral phases.This investment proposal has been examined at the 10th meeting of the 5th term of Board held onAugust 24, 2011. All of the 11 directors at the meeting voted in favor of this project. The Board ofDirectors has agreed to authorize the management to carry forward feas
6、ibility research andhandling of preparation filing procedures. It is subject to examination by the ShareholdersMeeting, and cause no related transaction.II. Profiles of the investing entityName of the Company: Hangzhou Steam Turbine Co., Ltd.Legal representative: Mr. Nie ZhonghaiRegistered address:
7、No. 357 Shiqiao Rd. HangzhouRegistered capital: RMB628.342 millionBusiness scope: designing, producing, trading, and after service of rotating and reciprocatingmachines such as steam turbines and gas turbines and auxiliary machines, developing, trading, andservice of related technologies. Wholesalin
8、g, import & export, and service of power plant,industrial driving, and industrial turbines.Financial position of year 2010: turnover of RMB4.276053 billion, increased by 19.25% YOY;export of RMB538.7681 million, increased by 96.69% YOY; total profit of RMB966.0914 million,increased by 16.08% YOY; ne
9、t profit of RMB814.2943 million, increased by 15.52% YOY.III. Profiles of the investeeThe new company will be established in Hangzhou Qianjiang Economy and TechnologiesDevelopment Zone as a fully-owned subsidiary of the Company. It will become the newproduction base of steam turbines.Name of the com
10、pany: Hangzhou Steam Turbine Machinery & Equipment Manufacturing Co.,Ltd. (Temporary name, to be decided upon granting of business license)Business scope: Designing, producing, assembling, trading, and after service of rotating andreciprocating machines such as steam turbines and gas turbines (to be
11、 finalized as by the businesslicense).Registered capital: RMB300 millionWay of input: the Company will input RMB300 million and take 100% of the share equity.Total investment will not greater than RMB1 billion, which is mainly used to construct workshops,purchase processing, assembling and testing e
12、quipment, supporting facilities, and residential andoffice facilities. The construction will be completed in 8 years, in which the first phase will becompleted in about 4 years.IV. Objectives, risks, and influences on the Company1. Intention of the investment: Construction of the new production base
13、 will contribute to realizingof the Companys mid-long term development plans, further expanding the scale of economy,upgrading productivity, and satisfying the demand in production of high-end products such as highpower steam turbines, and gas turbines.2. Source of finance: the project will be finan
14、ced by the Companys own capital, commercial loans,and issuing of bonds.3. Possible risks attached to the project(1) Market risks: investing of this project was basing on the analyzing and evaluation of thelong-term trend of domestic and global turbine market. However there is uncertainty with therel
15、ated industries, thus it will come along with certain risks.(2) Macro economy risks: variation of global economy, trade, and financial environment, and alsonational industrial, tax, and investment policies, could bring influences on the returns of theproject to certain extent.(3) Financial risks: th
16、is project is featured with long construction circle, and mass capital input.Certain financial risks could attach to financing approaches, change of loan policies, and workingof financing resources.4. Impact on the future financial position and business performance: this project makes noinfluence on
17、 the financial results of current term. Whereas completion of this project will greatlylift up the Companys productivity, reinforce the leading position in the whole market, andcontribute constant growth of profitability of the Company.V. OthersInformation about progresses of the project will be disclosed duly by the Company.The Board of Directors ofHangzhou Steam Turbine Co., Ltd.August 27 2011
