[年报]杭汽轮Ｂ(200771):2022年年度报告（英文版）
原标题:杭汽轮Ｂ:2022年年度报告（英文版） March 2023 I. Important Notice , Table of Contents, and Definitions The Board of Directors, The Supervisory Committee, the supervisors and the directors of the Company guarantee that there are no significant omissions, fictitious or misleading statements carried in the Report and we will accept individual and joint responsibilities for the truthfulness, accuracy and completeness of the Report. Chairman Mr. Zheng Bin, Chief Financial Officer Zhao Jiamao, and the Chief of Accounting Department Mr.Jin Can hereby declare: the Financial Statement in the report is guaranteed to be truthful and complete. All of the directors attended the board meeting on which this report was examined. This Report contains prospective descriptions, which doesn’t constitute substantial commitment to investors. Investors are requested to be aware of the risks attached to their investment decisions. For the risks existing in the Company's operation, please refer to the section "Prospects for the future development of the Company" in Section III "Management Discussion & Analysis". The company's designated information disclosure media are: Shanghai Securities News (Chinese), Securities Times (Chinese), Hong Kong Commercial Daily (English), http://www.cninfo.com.cn (In English and Chinese), all information of the company is subject to the information published in the above selected media. Investors are advised to pay attention to investment risks. The profit distribution proposal reviewed and approved by the boarding meeting was summarized as follows: In 2022, with the total share capital of 980,179,980 shares at the end of the year deducting 111,800 treasury shares repurchased as of date of record by Company and 531,180 shares of share capital were cancelled due to the retirement and resignation of equity incentive objects in December 2022, that is, 979,537,000 shares, the Company would distribute cash dividend to all the shareholders at the rate of CNY 3.0 for every 10 shares (with tax inclusive) , 2 bonus shares ，and no reserve would be converted into share capital. Table of Contents I.Important Notice, Table of contents and Definitions II. Basic Information of the Company and Financial index III. Management Discussion & Analysis IV. Corporate Governance V. Environmental & Social Responsibility VI. Important Events VII. Change of share capital and shareholding of Principal Shareholders VIII. Situation of the Preferred Shares IX. Corporate Bond X. Financial Report Documents available for inspection 1. Accounting statements carried with personal signatures and seals of legal representative, General Manager, Chief Financial officer and Financial Principal. 2. Original of Auditors’ Report carried with the seal of Certified Public Accountants as well as personal signatures of certified Public accountants. 3. The texts of all the Company's documents publicly disclosed on the newspapers and periodicals designated by China Securities Regulatory Commission in the report period. 4. Original copy of Resolutions of the Meeting of Board. Definition
II. Basic Information of the Company and Financial index I. Basic Information
CPA hired by the Company
□ Applicable √Not applicable The Financial advisor performing persist ant supervision duties engaged by the Company in the reporting period □ Applicable √Not applicable VI.Summary of Accounting data and Financial index Indicate by tick mark whether there is any retrospectively restated datum in the table below. □Yes √No
three fiscal years is negative, and the auditor's report of the previous year shows that the Company’s going concern ability is uncertain. □ Yes √No The lower of the net profit before and after the deduction of the non-recurring gains and losses is negative. □ Yes √No VII.The differences between domestic and international accounting standards 1. Differences between the net profit and net asset in the financial reports prepared under IAS and Chinese Accounting Standard □ Applicable √Not applicable No difference in the reporting period. 2. Differences between the net profit and net asset in the financial reports prepared under IAS and Chinese Accounting Standard □ Applicable √Not applicable No difference in the reporting period. VIII.Main Financial Index by Quarters In RMB
(1) The net government subsidy recognized as a result of the relocation compensation of the Shiqiao Road plant is RMB21,141,733.79 (the government subsidy related to the relocation compensation is RMB37,292,533.79, and lessening the relocation expenses of RMB16,150,800.00); (2) The government subsidy for the relocation compensation confirmed by the old factory in Hangzhou is 8,663,283.72 yuan; (3) the funded and confirmed government subsidy by Zhejiang Gas Turbomachinery Manufacturing Innovation Center is 5,542,854.92 yuan. Details of other profit and loss items that meet the non-recurring profit and loss definition □ Applicable√ Not applicable For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on information disclosure for Companies Offering their Securities to the Public-Non-recurring Gains and Losses and its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosure for Companies offering their securities to the public-non-recurring Gains and losses which have been defined as recurring gains and losses, it is necessary to explain the reason. □ Applicable√ Not applicable None of Non-recurring gain /loss items recorgnized as recurring gain /loss/items as defined by the information disclosure explanatory Announcement No.1- Non –recurring gain/loss in the report period. III. Management Discussion & Analysis I. Industry information of the Company during the reporting period As an energy equipment manufacturing enterprise, the Company is greatly affected by the national macroeconomy and the demand of downstream industries such as petrochemical industry and electric power. In 2022, China's economy continued to develop under pressure, its total economic output reached a new level, and the quality of development steadily improved. According to data released by the National Bureau of Statistics on January 17, 2023, China's GDP for the whole year of 2022 was 121,020.7 billion yuan, with an economic total of 121 trillion yuan, an increase of 3.0% over the previous year at constant prices, ranking second in the world. During the reporting period, the operation of China's petrochemical industry was generally stable and orderly, the oil and gas production maintained steady growth, and the oil and gas exploitation and chemical investment grew rapidly. According to the data of the National Bureau of Statistics, the petrochemical industry achieved operating income of 16.56 trillion yuan in 2022, a YOY increase of 14.4%; the total import and export volume was 1.05 trillion US dollars, a year-on-year increase of 21.7%; the total profit was 1.13 trillion yuan, a YOY decrease of 2.8%. Although the total profit decreased by more than 30 billion yuan from the previous year, it remained above one trillion yuan for the second consecutive year, accounting for 13.4% of the total profit of all scaled industries in the country. Investment in oil and gas extraction, chemical raw materials and chemical manufacturing increased by 15.5% and 18.8% over the previous year respectively. According to the "Economic Operation of China's Petroleum and Chemical Industry in 2022" released by the China Petroleum and Chemical Industry Federation, in recent years, with the completion and operation of a number of refining and chemical integration units, China's total refining capacity has reached 920 million tons/year, of which the number of refineries of 10 million tons and above has increased to 32. China's total ethylene production capacity has reached 46.75 million tons / year, exceeding the total production capacity of 44.82 million tons / year of the United States, and it has become the world's largest ethylene production capacity. At present, although the petrochemical industry still has a certain shortage to ethylene, polyethylene and some high-performance new materials and high-end specialty chemicals, the other major petrochemical products manifest a state of overcapacity. The era of rapid growth of the petrochemical industry has passed, and the era of surplus has arrived. However, with the introduction of the latest national industrial policies, the petrochemical industry will also usher in new opportunities. In 2022, the National Development and Reform Commission, the Ministry of Industry and Information Technology and other relevant ministries and commissions have successively promulgated a number of industrial policies closely related to the petrochemical industry, such as the Implementation Guide for Energy Conservation and Carbon Reduction Transformation and Upgrading in Key Areas of High Energy Consuming Industries (2022 Edition), the Guiding Opinions on Promoting the High- quality Development of the Petrochemical and Chemical Industry in the 14th Five-Year Plan, the Implementation Plan for Carbon Peaking in the Industrial Sector, the Guidelines for the Development and Construction of Chemical Parks, the Catalogue for the Guidance of Industrial Structure Adjustment, and Notice on Further Improving the Work Related to the Total Energy Consumption Control of Energy Used by Raw Materials Not Included in" and so on. These policies have more scientifically and accurately free up certain space and potential for the high-quality development of the petrochemical industry, especially for new chemical materials, high-end fine chemicals, medical chemicals, high-purity reagents, etc., which supports high-end manufacturing and strategic emerging industries, frees up the development space and provides new opportunities. During the reporting period, the power industry faced the challenges of supply assurance and transformation. It actively implemented the new requirements of the "dual carbon" goal, effectively responded to the impact of extreme weather, and made every effort to ensure power supply for people's livelihood. According to data released by the China Electricity Council, in 2022, the electricity consumption of the whole society in the country was 8.64 trillion kilowatt hours, a year-on-year increase of 3.6%. By the end of 2022, the total installed capacity of power generation in the country was 2.56 billion kilowatts, a YOY increase of 7.8%. In 2022, the green and low-carbon transformation of the power industry has achieved remarkable results. First, non-fossil energy power generation accounted for nearly 50% of the total installed capacity. In 2022, the country's installed power generation capacity was 200 million kilowatts, of which 160 million kilowatts of non- fossil energy power generation capacity was added, and the put-into-operation capacity of total newly installed capacity of power generation and non-fossil energy power generation hit a record high. Secondly, the total non- fossil energy power generation increased by 8.7% year-on-year, and the coal power generation accounted for nearly 60% of the total power generation. In 2022, the total grid-connected wind power and solar power generation increased by 16.3% and 30.8% year-on-year respectively. In addition, the power investment increased by 13.3% YOY, and the non-fossil energy power generation investment accounted for 87.7% of power supply investment. The coal power gradually changes from the main power to providing a supporting and regulating power source with both emphasizes on capacity and power. In 2022, China have vigorously promoted the "three reforms" of coal power energy conservation and carbon reduction transformation, flexibility transformation and heat supply transformation. The scale of coal power that has been upgraded is more than 220 million kilowatts, and the clean and low-carbon development of coal power has been continuously promoted. The year of 2022 is a key year for the construction and improvement of the "1+N" policy system for carbon peaking and carbon neutrality. The state has successively issued special plans such as the "14th Five-Year Plan" Modern Energy System Plan and the "14th Five-Year Plan" Renewable Energy Development Plan, the newly introduced industrial policies have highlighted the bottom line of safety and new requirements for development, the "dual carbon" policy is more systematic and coordinated, the priority of energy conservation and carbon reduction has been further improved, and the supporting mechanism has been improved, providing a solid impetus for the green and low-carbon transformation. The Company has actively adapted to the general trend of national energy structure and industrial policy adjustment, accelerated the transformation and upgrading of enterprises, increased the technological innovation and independent research and development, produced high- end boutique products, established brand advantages, and continued to develop and grow in the fierce market competition. II.Main Business the Company is Engaged in During the Report Period During the reporting period, the Company's main business and operating model did not undergo significant changes.As the leading provider of turbo machinery equipment and relevant service in China, our company is mainly famous for designing and producing rotating turbo machinery like industrial steam turbines and gas turbines. Our company, one of the major companies drafting the industrial standard in Chinese domestic industry of industrial steam turbine, has developed into the biggest base to research, develop and produce industrial steam turbines in China and ranks first among industrial steam turbine producers in terms of the market occupancy. Holding the principle “our products should be based on clients’ demands” as our business mode and characteristic, our company designs and produces in accordance with every client’s personal demands so as to meet personalized needs in engineering projects to the utmost. To realize the fast research and development of our products, our company has adopted the advanced modular design technique and, on the other hand, introduces information technique to assist the collaborative production to achieve the resource saving and flexible production. In addition, our company also provides our clients with relevant service such as engineering programs, general engineering contracting, operation and maintenance of our products as well as remote control and so on. Industrial steam turbines use the steam featuring high temperature and high pressure as their working medium so as to convert the thermal energy into mechanical energy to drive various industrial equipments through the rotating steam turbines. As for different objects driven by industrial steam turbines, the steam turbines could be divided into industrial driving steam turbines and industrial power-generation steam turbines. Mainly driving rotating machines like compressors, air blowers, pumps and squeezers, industrial driving steam turbines, as the core power part in numerous large-scale industrial equipments, are always introduced into some industries like oil refining, chemical engineering, chemical fertilizer, building materials, metallurgy, electric power, light industry and environmental production. The industrial power-generation steam turbines, mainly utilized to drive electric generators and provide thermal energy, are mainly adopted in private stations, regional projects of combined heat and power generation, power generation by recycling waste heat in industrial production, urban waster power plants and gas-steam combined cycle power stations in various industrial sectors. The gas turbines produced by our company are mainly used by metallurgical industry to recycle the waste heat from the blast furnace exhaust to generate power. In the gas turbine business, the company cooperated with Siemens Energy on SGT-800, an advanced natural gas turbine with high efficiency, high reliability and low emission, to enter the field of natural gas distributed energy, with its models gradually expanded to SGT-300, SGT-700 and SGT-2000E. As the general supplier of Siemens gas turbine in China, the company has carried out gas turbine business from two aspects of project procurement and integrated implementation, and has the ability of selecting combined cycle projects for distributed energy, has established the complete system supporting standards and material systems, and can complete the independent processing and supporting work of equipment other than the gas turbine itself. In the industrial fields including the cogeneration /combined cycle power plant and the oil & gas project with distributed energy projects that adopt the small and medium gas turbines, the Company not only can provide gas turbine equipment for customers, but also can provide customers with complete sets of equipment for gas turbine power plant and the efficient integrated solutions. Especially, it can provide customers with operational support services throughout the product life, and this service model is conductive for the establishment of long-term business cooperation relationships between the company and its customers. As the major producer of industrial equipments in China, our company is mainly benefited from the following factors in terms of the elements driving our business performance: 1. On the basis of market demands. The relevant market demands fluctuate differently due to various business condition and investment cycles in different industrial fields. The company further made more specified positions toward the market for the products, implemented the differentiated marketing strategy, and integrated the business sectors and tapped into the potential, According to different customers' needs, it has further consolidated the original market position and broadened the market share in new fields through precise matching and precise policies. 2. Innovation and further reform in difficult areas of product technology：Our company continuously improves product technical performance and tackles hard issues in the scientific researches of product structure, core parts, basic design, manufacturing technology, material technology, etc. In addition, basing on clients’ demands, To push forward the intelligence of our products and the development of the integration technology. Meantime, the company cooperated with universities, scientific research institutes to build the technological exchange and cooperation platform. 3. Upgrading of industrial structure transformation： The company jointed with Siemens to enter the distributed energy market and enhance the development and utilization of natural gas distributed energy. In the industrial fields including the cogeneration /combined cycle power plant and the oil & gas project with distributed energy projects that adopt the small and medium gas turbines, the Company not only can provide gas turbine equipment for customers, but also can provide customers with complete sets of equipment for gas turbine power plant and the efficient integrated solutions. The Company established a new energy company to deeply explore the cogeneration needs of customers in the petrochemical field, and gradually transformed to engineering, systematization and financialization. 4. Brand and market position：The company’s products have a good reputation and extensive brand influence in the domestic market, The company has maintained a leading market share in the domestic industrial drive. The company's products have a high reputation and brand influence in the domestic market. 5.Cost controlling level：As domestic labor costs continue to rise and the price of industrial products continue to decline, the product profitability is facing a severe test. In recent years, the company continuously improves the level of costs controlling by improving the organizational structure, optimizing business processes, enhancing the supply chain controlling, strengthening risk management, raising the efficiency of all the staff and so on. 6.Emphasis on quality engineering and services: promote the key project management, meticulously plan key projects, implement dynamic quality supervision; attach importance to products’ after-sales service market, integrate existing resources to increase after-sales service initiative, extend product value chain, and promote the company’s transformation from manufacturing to service. III. Analysis On core Competitiveness Firstly. A complete technical innovation system was established. The Company has under its possession of national, provincial, and municipal grade technical centers, a doctorial workstation, and an academician workstation. Close co-operations were carried out with institutions and universities from throughout the country. As the main drafter of national standard on industrial steam turbine, the Company has the newest technical trend under its close observation. The Company is now providing nearly 600 different models of steam turbines to the customers and hold the newest technical system covering the product lines up to 150 MW.Cooperating with Siemens Energy in the field of gas turbine, our company has been capable of selecting the model of the combined recycling project of distributed energy. In addition, our company has also been able to finish the independent processing or supporting work which doesn’t need to depend on the gas turbine machine. Secondly .The advantages of solutions. The modular design of industrial steam turbine and the production pattern featuring parallelization production enable our company to give considerations to the cost, date of delivery and clients’ demands in the process of production in accordance with clients’ personalized designs, thereby making our company capable of advancing with the development trend of individual requirements. Our company has always been devoting to the localization in terms of the gas turbine business so as to achieve the localized one-stop service step by step including the sale, production, installation, debugging, operation, training and after-sale service. Our company has always been striving to provide clients with the complete equipment of gas turbine power station and the efficient total solutions. Thirdly, the Company has established strategic co-operations with main customers in the country. Further marketing approaches were carried on by involving itself in the customers’ value. A sound and steady image has been set up in the domestic steam turbine market. In the global market, the Company has acquired multiple important certifications and has established a primary global recognition. Fourthly, the Company has its complete service providing system. The Company is not only capable to provide onsite 24-hour service for the Company’s own products, but also accumulated rich experiences in technical maintenance and reengineering of other manufacturers’ products. Fifthly, the Company has cultivated a significant advantage in human resources. Great importance has been （未完）  |