杭汽轮Ｂ：审计报告（英文版） .ppt

,Stock Code:200771,Stock ID:Hangqilun B,Announcement No.2012-17,Hangzhou Steam Turbine Co.,Ltd.Annual Financial Report 2011Table of Contents,(I)Auditors Report,.1,(II)Financial Statements,.2,(III)Notes to the Financial Statements.13Auditors Report天健审20121638 号To all shareholders of Hangzhou Steam Turbine Co.,Ltd.We have audited the Financial Statements of Hangzhou Steam Turbine Co.,Ltd.(theCompany)attached hereafter,including the Balance Sheet and Consolidated Balance Sheetended December 31,2011,Income Statement and Consolidated Income Statement,CashFlow Statement and Consolidated Cash Flow Statement,Statement of Change in ShareEquities and Consolidated Statement of Change in Share Equities of year 2011,as well asthe notes to the Financial Statements.I.Executives responsibilities on the Financial StatementsPreparing and appropriately presenting of the Financial Statements are the responsibilities ofthe management of The Company.This responsibilities are including:(1)Preparing thefinancial statements according to Enterprise Accounting Standards and make them reflectinga fair basis.(2)Design,implement and maintain the internal control system related toproducing of the Financial Statements,to prevent the Financial Statements from major falsepresentation due to cheating or error.II.Responsibilities of the CPAOur responsibilities are to issue auditing opinions on the Financial Statements basing on theauditing works weve done on them.We carried out the auditing works with compliance toChinese CPA Auditing Standard,which requires us to plan and implement our works on thebasis of professional ethic standards,and obtain reasonable guarantee that the Financial1,Statements are free of major false statements.An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements.The procedures selected depend on the auditorsjudgment,including the assessment of the risks of material misstatement of the financialstatements,whether due to fraud or error.In making those risk assessments,we consider theinternal control relevant to the entitys preparation of financial statements in order to designaudit procedures that are appropriate in the circumstances,but not for the purpose ofexpressing an opinion on the effectiveness of the companys internal control.An audit alsoincludes evaluating the appropriateness of the accounting polices used and thereasonableness of the accounting estimates made by management,as well as evaluating theoverall presentation of the financial statements.We believe that the audit evidence we have obtained is sufficient and appropriate to providea basis for our audit opinion.III.Auditors OpinionsWe believe that the Company has been following with the Enterprise Accounting Standard inpreparing of the Financial Statements.The Financial Statements is reflecting,both of theCompany and the consolidated,in all important aspects,the financial situation of HangzhouSteam Turbine Co.,Ltd.as of December 31,2011,and the business performance and cashflow of year 2011 both of the Company and the consolidated.Pan-China Certified Public Accountants(Special common partnership)CPA China:Fu Jingjing,Hangzhou China,CPA China:Zhao HairongMarch 26,20122,Items,II.The Financial Statements(I)Balance Sheet,Prepared by:Hangzhou,Steam,Turbine,Co.,Ltd.,December,31,2011,in RMB Yuan,Current asset:,Ending balanceConsolidated Parent company,Balance at the beginning of yearConsolidated Parent company,Monetary capital,662,648,725.65 335,248,349.26,657,077,394.71,332,065,321.54,Settlement provisionOutgoing call loanTransactional financial assets,Notes receivableAccount receivable,783,869,310.40 448,393,858.41 713,585,305.36 408,512,097.531,812,706,051.31 1,395,509,702.83 1,652,523,887.28 1,307,706,761.68,PrepaymentInsurance receivableReinsurance receivableProvisions of Reinsurancecontracts receivableInterest receivableDividend receivable,208,732,412.73 113,735,693.96 184,464,135.00,56,088,295.98,Other account receivable,75,627,129.17,12,151,541.72,34,149,117.95,28,169,088.97,Repurchasing of financial assets,InventoriesNon-current asset due in 1 year,1,465,135,236.51 1,070,075,603.00 1,168,959,067.36 874,068,780.2420,000,000.00,Other current asset,5,661,299.59,88,598.00,Total of current assetNon-current assetsDisburse of consigned loansAvailable-for-sale financial assetExpired investment in possessLong-term receivable,5,034,380,165.36 3,375,114,749.18 4,410,847,505.66 3,006,610,345.94,Long-term share equityinvestment,462,088,813.22 516,782,461.07,402,586,451.62,472,280,099.47,Investment real estates,Fixed assetsConstruction in process,944,932,607.77 361,028,552.8156,000,094.04 40,483,268.63,828,320,012.2498,530,579.18,319,991,452.6488,939,313.18,Engineering goodsFixed asset disposalProduction physical assetsGas&petrol,Intangible assets,276,922,402.76,45,545,511.45,284,700,647.27,46,724,159.17,R&D expenseGoodwill,Long-term amortizable expenses,4,959,937.22,3,381,273.23,5,941,526.80,5,410,037.18,Differed income tax asset,88,298,356.22 54,740,403.46,61,405,784.44,44,447,914.88,Other non-current assetTotal of non-current assetsTotal of assetsCurrent liabilities,25,000,000.001,858,202,211.23 1,021,961,470.65 1,681,485,001.55 977,792,976.526,892,582,376.59 4,397,076,219.83 6,092,332,507.21 3,984,403,322.46,Short-term loans,279,317,423.50,16,317,423.50,226,000,000.00,Loan from Central BankDeposit received and hold forothersCall loan received3,Trade off financial liabilities,Notes payable,139,807,194.00,95,643,623.00,Account payablePrepayment receivedSelling of repurchased financialassetsFees and commissions receivable,590,763,406.24 276,473,416.53 522,983,194.67 261,017,904.691,574,022,744.91 1,032,539,706.27 1,493,982,772.62 1,063,643,628.13,Employees wage payableTax payableInterest payable,29,149,223.5490,706,239.00260,577.78,16,525,266.2467,963,322.70,29,174,456.31105,407,867.17287,993.75,14,868,240.6260,985,858.19,Dividend payable,Other account payable,227,302,074.82,38,189,812.37,80,286,888.60,28,469,915.93,Reinsurance fee payableInsurance contract provisionEntrusted trading of securitiesEntrusted selling of securities,Non-current liability due in 1 year,10,000,000.00,157,000,000.00,100,000,000.00,Other current liability,Total of current liabilityNon-current liabilities,2,941,328,883.79 1,448,008,947.61 2,710,766,796.12 1,528,985,547.56,Long-term borrowings,125,000,000.00 100,000,000.00,73,463,800.00,50,463,800.00,Bond payable,Long-term payableSpecial payableAnticipated liabilities,44,818,324.41,330,000.00,Differed income tax liabilityOther non-recurring liabilities,1,041,180.4417,310,045.00,1,041,180.44778,250.00,1,222,974.805,047,140.00,1,222,974.801,359,250.00,Total of non-current liabilities,188,169,549.85 101,819,430.44,80,063,914.80,53,046,024.80,Total of liabilityOwners equity(or shareholdersequity),3,129,498,433.64 1,549,828,378.05 2,790,830,710.92 1,582,031,572.36,Capital paid in(or share capital)Capital reserves,628,342,000.00 628,342,000.00139,590,345.09 138,953,250.09,483,340,000.00139,590,345.09,483,340,000.00138,953,250.09,Less:Shares in stockSpecial reserves,Surplus reserves,453,183,370.20 434,426,965.07,389,362,161.03,370,605,755.90,Common risk provision,Retained profitDifferent of foreign currencytranslationTotal of owners equity belong tothe parent company,2,094,147,226.72 1,645,525,626.62 1,855,918,732.56 1,409,472,744.113,315,262,942.01 2,847,247,841.78 2,868,211,238.68 2,402,371,750.10,Minor shareholders equity,447,821,000.94,433,290,557.61,Total of owners equityTotal of liabilities and ownersequity,3,763,083,942.95 2,847,247,841.78 3,301,501,796.29 2,402,371,750.106,892,582,376.59 4,397,076,219.83 6,092,332,507.21 3,984,403,322.464,Items,loss),(,(II)Income Statement,Prepared by:Hangzhou Steam Turbine Co.,Ltd.,Jan-Dec 2011,in RMB Yuan,Amount of the Current Term Amount of the Previous TermConsolidated Parent company Consolidated Parent company,I.Total revenueIncl.Business incomeInterest incomeInsurance fee earnedFee and commission receivedII.Total business costIncl.Business costInterest expenseFee and commission paidInsurance discharge paymentNet claim amount paidNet insurance policy reservesprovidedInsurance policy dividendpaidReinsurance expenses,4,547,818,300.02 2,771,366,798.02 4,276,205,308.54 2,656,099,552.934,547,818,300.02 2,771,366,798.02 4,276,205,308.54 2,656,099,552.933,688,225,917.13 2,264,905,724.92 3,337,410,900.82 2,076,914,500.492,867,161,267.15 1,781,567,233.23 2,738,223,807.10 1,691,788,483.76,Business tax and surcharge,39,337,819.22 22,383,179.18,14,571,136.47,5,613,769.80,Sales expense,156,212,304.44 99,894,679.40 122,413,246.87,80,254,016.19,Administrative expense,475,688,358.87 290,614,073.81 384,214,446.52 249,803,157.09,Financial expenses,31,883,791.78,3,650,075.72,18,094,761.99,8,682,604.85,Asset impairment lossPlus:Gains from change of fairvalue(“-“for loss),117,942,375.67 66,796,483.58 59,893,501.87,40,772,468.80,Investment gain(“-“for,24,332,238.56 195,678,146.69,24,483,937.77 121,680,995.27,Incl.Investment gainsfrom affiliatesGains from currency exchange(“-“for loss)III.Operational profit“-“for loss)883,924,621.45 702,139,219.79 963,278,345.49 700,866,047.71,Plus:Non business income,28,680,447.95 13,626,573.04,12,113,999.39,6,816,787.12,Less:Non-business expensesIncl.Loss from disposal ofnon-current assets,7,325,710.00231,600.77,2,469,280.45,9,300,939.0368,130.11,5,433,355.7130,277.83,IV.Gross profit(“-“for loss),905,279,359.40 713,296,512.38 966,091,405.85 702,249,479.12,Less:Income tax expenses,131,106,310.32 75,084,420.70 151,797,062.03,87,955,297.52,V.Net profit(“-“for net loss)Net profit attributable to theowners of parent company,774,173,049.08 638,212,091.68 814,294,343.82 614,294,181.60640,387,703.33 638,212,091.68 680,184,677.22 614,294,181.60,Minor shareholders equityVI.Earnings per share:(I)Basic earnings per share(II)Diluted earnings per shareVII.Other misc.incomes,133,785,345.751.021.02,134,109,666.601.081.08,VIII.Total of misc.incomesTotal of misc.incomesattributable to the owners of theparent company,774,173,049.08 638,212,091.68 814,294,343.82 614,294,181.60640,387,703.33 638,212,091.68 680,184,677.22 614,294,181.60,Total misc gains attributable tothe minor shareholders,133,785,345.75,134,109,666.60,Merger of entities under common control,the net profit realized by the merged party was RMB0.00.5,Items,(III)Cash Flow Statement,Prepared by:Hangzhou Steam Turbine Co.,Ltd.,Jan-Dec 2011,in RMB Yuan,Amount of the Current Term Amount of the Previous TermConsolidated Parent company Consolidated Parent companyI.Net cash flow from businessoperation,Cash received from sales ofproducts and providing of servicesNet increase of customerdeposits and capital kept for brothercompanyNet increase of loans fromcentral bankNet increase of inter-bank loansfrom other financial bodiesCash received against originalinsurance contractNet cash received fromreinsurance businessNet increase of client depositand investmentNet increase of trade financialasset disposalCash received as interest,processing fee,and commissionNet increase of inter-bank fundreceivedNet increase of repurchasingbusiness,3,902,115,124.58 2,190,399,283.81 3,778,162,641.49 2,278,944,288.05,Tax returnedOther cash received frombusiness operation,17,580,460.4945,440,371.54,2,108,187.6923,311,605.83,23,616,822.8224,501,605.76,3,547,758.197,550,415.41,Sub-total of cash inflow frombusiness activitiesCash paid for purchasing ofmerchandise and servicesNet increase of client trade andadvanceNet increase of savings incentral bank and brother companyCash paid for original contractclaimCash paid for interest,processing fee and commissionCash paid for policy dividendCash paid to staffs or paid forstaffsTaxes paid,3,965,135,956.61 2,215,819,077.33 3,826,281,070.07 2,290,042,461.652,176,136,809.43 1,260,207,371.48 2,281,046,497.42 1,194,101,078.89646,779,534.73 472,736,687.87 490,479,215.23 367,526,554.84434,571,031.44 230,500,126.91 403,503,882.38 258,982,467.42,Other cash paid for businessactivities,189,525,147.71 93,261,160.41 150,165,548.34,75,944,112.55,Sub-total of cash outflowfrom business activitiesCash flow generated bybusiness operation,net,3,447,012,523.31 2,056,705,346.67 3,325,195,143.37 1,896,554,213.70518,123,433.30 159,113,730.66 501,085,926.70 393,488,247.95,II.Cash flow generated by investingCash received from investment6,retrieving,Cash received as investmentgains,24,332,238.56,195,678,146.69,24,483,937.77,121,680,995.27,Net cash retrieved from,disposal of fixed assets,intangible,2,623,655.66,2,035,530.00,746,815.00,671,870.00,assets,and other long-term assetsNet cash received from disposalof subsidiaries or other operationalunits,Other investment-related cashreceived,27,000,000.00,1,275,859.48,Sub-total of cash inflow dueto investment activities,53,955,894.22,197,713,676.69,26,506,612.25,122,352,865.27,Cash paid for construction of,fixed assets,intangible assets and,160,994,421.47,75,176,911.51,241,507,031.70,83,874,994.24,other long-term assets,Cash paid as investment,60,702,361.60,44,502,361.60,21,473,473.00,Net increase of loan againstpledgeNet cash received fromsubsidiaries and other operationalunits,Other cash paid for investmentactivities,77,000,000.00,Sub-total of cash outflow dueto investment activities,298,696,783.07,119,679,273.11,262,980,504.70,83,874,994.24,Net cash flow generated byinvestment,-244,740,888.85,78,034,403.58-236,473,892.45,38,477,871.03,III.Cash flow generated byfinancing,Cash received as investmentIncl.Cash received asinvestment from minor shareholders,8,180,000.008,180,000.00,Cash received as loans,538,000,000.00,100,000,000.00,249,000,000.00,Cash received from bondplacing,Other financing-related cashreceived,207,000,000.00,95,000,000.00,Subtotal of cash inflow fromfinancing activities,753,180,000.00,100,000,000.00,344,000,000.00,Cash to repay debtsCash paid as dividend,profit,orinterestsIncl.Dividend and profit paidby subsidiaries to minor shareholdersOther cash paid for financingactivitiesSubtotal of cash outflow dueto financing activities,596,463,800.00356,784,669.90127,434,902.42103,484,750.441,056,733,220.34,150,463,800.00198,048,587.88348,512,387.88,176,000,000.00242,696,211.2569,698,794.8652,000,000.00470,696,211.25,40,000,000.00157,075,045.21197,075,045.21,financing,Net cash flow generated by,-303,553,220.34,-248,512,387.88-126,696,211.25-197,075,045.21,IV.Influence of exchange rate,alternation on cash and cash,-414,206.01,-1,770,142.14,-933,563.17,-1,494,621.40,equivalents,V.Net increase of cash and cashequivalents,-30,584,881.90,-13,134,395.78,136,982,259.83,233,396,452.37,7,Plus:Balance of cash and cashequivalents at the beginning of termVI.Balance of cash and cashequivalents at the end of term,621,373,402.65 332,065,321.54590,788,520.75 318,930,925.76,484,391,142.82621,373,402.65,98,668,869.17332,065,321.54,8,pe,se,rv,es,re,ci,al,S,ha,oc,es,re,in,s:,st,S,s,pe,se,rv,es,re,ci,al,S,of,Consolidated Statement of Change in Owners Equity,Prepared b