StockCode:200771 StockID:HangqilunB AnnouncementNo.2019-04 HangzhouSteamTurbineCo.,Ltd. Announcementonamendingthearticlesofassociationofthecompany ThemembersoftheBoardandtheCompanyacknowledgebeingresponsibleforthe truthfulness,accuracy,andcompletenessoftheannouncement.Notanyfalserecord,misleading statementorsignificantomissioncarriedinthisannouncement. TheProposalofRevisingtheArticlesofAssociationoftheCompanywasconsideredand approvedatthe28thmeetingoftheseventhBoardofDirectorsofHangzhouSteamTurbineCo., Ltd(hereinafterreferredtoas"theCompany")heldonJanuary8,2019,andtheProposalhasyet tobesubmittedtotheCompany'sfirstprovisionalshareholders’generalmeetingin2019for consideration. Accordingto"TheCompanyLawofthePeople'sRepublicofChina"revisedonOctober26, 2018,andtherelevantprovisionsoftheChinaSecuritiesRegulatoryCommissionandShenzhen StockExchangeandotherrules,theCompany-inaccordancewiththeactualsituationofthe Company-carriedouttherevisionforpartoftheprovisionsandcontentsofthe"Articlesof AssociationoftheCompany",withtheamendmentsareasfollows: Originalcontents Revisedto Article25. Article25. TheCompanymayrepurchasesharesissuedpreviously TheCompanymayrepurchasesharesissuedpreviously underfollowingcircumstances,butshallfollowingthe underfollowingcircumstances,butshallfollowingthe proceduresasprovidedbytheCompanyLaw,related proceduresasprovidedbytheCompanyLaw,related regulations,aswellasthisArticlesofAssociation: regulations,aswellasthisArticlesofAssociation: (I) Reducingofregisteredcapital; （I） Reducingofregisteredcapital; (II) Tomergewithanothercompanyholdingsharesofthe (II)Tomergewithanothercompanyholdingsharesofthe Company; Company; (III) Toawardbonussharestoemployeesofthe (III)Usethesharesforemployeestockownershipplansor Company; (IV) WhenashareholderrequirestheCompanyto equityincentives; repurchasetheshareshe/sheisholdingforhe/sheis （IV）WhenashareholderrequirestheCompanyto holdingdissentopiniononanyresolutionsadoptedby theshareholders’meetingregardingmergerorsplitting repurchasetheshareshe/sheisholdingforhe/sheis oftheCompany； holdingdissentopiniononanyresolutionsadoptedby theshareholders’meetingregardingmergerorsplitting TheCompanyshallnottradetheCompany’sshares oftheCompany; underanycircumstanceotherthantheabove. (V)Usethesharesforconvertingintothestock-convertible companybondsissuedbythelistedcompany; (VI)NecessarilyneededformaintainingtheCompany'svalue andtheshareholders'rightsandinterests; TheCompanyshallnottradetheCompany’sshares underanycircumstanceotherthantheabove. Article26.EntitiesmaypurchasetheCompany’ssharesbyone Article26.EntitiesmaypurchasetheCompany’ssharesbyone ofthefollowingmeans: ofthefollowingmeans: (I)Biddinginthestockexchange; (I)Biddinginthestockexchange; (II)Directoffer; (II)Directoffer; (III)OthermeansasapprovedbyChinaSecurities (III)OthermeansasapprovedbyChinaSecurities RegulatoryCommission. RegulatoryCommission. WheretheCompanypurchasesthesharesoftheCompanydue tothecircumstancesprescribedinarticle25(III),(V)and(VI) ofthearticlesofassociation,itshalldosothroughanopen centralizedtradingmethod. Article27.RepurchasesdonebymeansasdescribedinArticle Article27. Repurchasesdonebymeansasdescribedin 25(I)�C(III)shallbesubjecttotheapprovaloftheshareholders’ Article25(I)�C(II)shallbesubjecttotheapprovalofthe generalmeeting.ThesharespurchaseduponArticle25(I)shall shareholders’generalmeeting.WheretheCompanypurchases bederegisteredin10dayssinceithasbeendone.Whereasupon Article25(II)and(IV)shallbetransferredorderegisteredin6 thesharesoftheCompanyduetothecircumstancesprescribed monthssinceitisdone. inarticle25(III),(V)and(VI)ofthearticlesofassociation,it AmountofsharesrepurchasedbytheCompanyunder the shalldosothroughanopencentralizedtradingmethod.Itshall circumstancesdescribedinArticle25(III)shallnot begreater than5%oftotalcapitalsharestheCompanyhadissued.Fund needaresolutionoftheboardmeetingwhichshallbeattendedusedtorepurchaseshallbepaidbyprofitoftheCompanyafter bymorethantwothirdsofthedirectors. tax,andthesharesrepurchasedshallbetransferredto ThesharespurchaseduponArticle25(I)shallbe employeeswithinoneyear. deregisteredin10ayssinceithasbeendone.Whereasupon Article25(II)and（IV）shallbetransferredorderegisteredin6 monthssinceitisdone.WhereasuponArticle25(III),(V)and (VI),ThetotalnumberofsharesoftheCompanyheldbythe Companyshallnotexceed10%ofthetotalissuedsharesofthe Companyandshallbetransferredorwrittenoffwithinthree years. Article47.Shareholders’Meetingisthedecision Article47.Shareholders’Meetingisthedecision makingbodywiththefollowingpowers: makingbodywiththefollowingpowers: (I)Todecidetheexternalbusinessstrategyandinvestment (I)Todecidetheexternalbusinessstrategyandinvestment projects. projects. ... ... (XVIII) (XVIII)TheacquisitionplanofthesharesoftheCompany Toexamineotherissuesasstipulatedbythe laws,regulations, documents,orthisArticlesofAssociationtobedecidedbythe shallbeconsideredandapprovedinaccordancewiththe Shareholders’Meeting. TheabovepowersoftheShareholders’Meetingshallnotbe circumstancesstipulatedinitems(1)and(II)ofArticle25ofauthorizedtotheBoardoranyotherorganizationsorindividuals. theseArticlesofAssociation; (XIX) Toexamineotherissuesasstipulatedbythelaws,regulations, documents,orthisArticlesofAssociationtobedecidedbythe Shareholders’Meeting. TheabovepowersoftheShareholders’Meetingshallnotbe authorizedtotheBoardoranyotherorganizationsorindividuals. Article114.TheBoardofDirectorsareentitledthefollowing Article114.TheBoardofDirectorsareentitledthefollowing powers: powers: (I) ToconvenetheShareholders’Meetingandreporttothe (I) ToconvenetheShareholders’Meetingandreporttothe Shareholders’Meeting. Shareholders’Meeting. ... ... (VII)Toproduceplansregardingmajoracquisition, (VII)ToformulateaplanfortheCompanytoacquiresharesof repurchasingoftheCompany’sstocks,merging, separation,dismissingoftheCompany,orchangingof thecompanyduetotheconditionsstipulatedinitems(1)and theCompany’sorganizationform. (II)ofArticle25oftheArticlesofAssociation; (VIII)UnderauthorizationoftheShareholders’ (VIII)tomakearesolutionontheacquisitionofsharesofthe Meeting,todecideuponissuessuchasexternal CompanybytheCompanyduetotheconditionsstipulatedin investment,purchasingofassets,pledgingofassets, externalguaranteeissues,outsourcedfinancing,and items(III),(V)and(VI)ofArticle25oftheArticlesof relatedtransactions. Association; ... ... (XVI)Toexecuteotherdutiesassignedbythelaws, administrativerules,departmentregulationsandthe (XVIII)Toexecuteotherdutiesassignedbythelaws, ArticlesofAssociation. administrativerules,departmentregulationsandthe ArticlesofAssociation. Thisannouncementisherebymade. TheBoardofDirectorsofHangzhouSteamTurbineCo.,Ltd. January9，2019