公告日期：2016-10-22

StockCode:200771 StockID:HangqilunB AnnouncementNo.2016-75
AnnouncementontheExternalGuaranteebytheCompany’sSubsidiaryofHangzhouSteamTurbineCo.,Ltd.
ThemembersoftheBoardandtheCompanyacknowledgebeingresponsibleforthetruthfulness,accuracy,andcompletenessoftheannouncement.Notanyfalserecord,misleadingstatementorsignificantomissioncarriedinthisannouncement.
Ⅰ.OverviewoftheGuarantee
1.BackgroundIntroduction
OnMay18,2016,Thecompany’swholly-ownedsubsidiary-HangzhouSteamTurbineHeavyIndustryCo.,LtdmadeanapplicationofspecialconstructionfundofRMB208milliontoChinaDevelopmentBankZhejiangBranch(hereinafterreferredtoas:CDB)inrespectofitsproject-Annualoutputof450units(sets)ofindustrialsteamturbine,gasturbineandcompressorandthematchingengineeringbaseconstruction,withamortgageofHangzhouSteamTurbineHeavyIndustryCo.,Ltd’sassetsassecurity.Detailspleaserefertocompanyannouncement:Announcementofthe1stMeetingoftheSeventhBoardofDirectors（2016-55）.
For the implementationoftherelevantpoliciesforspecialconstructionfund,CDB’swhollyowned
subsidiary-ChinaDevelopmentFundLimited(hereinafterreferredtoas:ChinaDevelopmentFund)fundedRMB0.208billiontoHangzhouSteamTurbineHeavyIndustryCo.,Ltd.bymeansofcapitalincreaseandbecomingashareholder.ThetermofsuchmoneyprovidedbyChinaDevelopmentFundis10yearsandthereturnoninvestmentforsuchmoneyis1.2%peryear.Forthat,thefourpartiesi.e.thecompany,ChinaDevelopmentFund,HangzhouSteamTurbineHeavyIndustryCo.,Ltd.andHangzhouSteamTurbineGroupCo.,LtdshalljointlysigntheChinaDevelopmentFundInvestmentContract(hereinafterreferredtoas:InvestmentContract).
According to thecontent of the InvestmentContract,HangzhouSteamTurbinePowerGroupCo.,Ltd
(hereinafterreferredtoas:SteamTurbineGroup),startingfrom2019,shallbethetransfereetothestakeofHangzhouSteamTurbineHeavyIndustryCo.,Ltd.heldbyChinaDevelopmentFund..ChinaDevelopmentFundrequiredthecompanyandHangzhouSteamTurbinePowerGroupCo.,LtdtorespectivelyprovideaguaranteeonSteamTurbineGroup’sfulfillmentofitsobligationofbeinga……
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