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冰山B:2024年第一季度报告(英文)2024-04-26  

                           Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. Quarterly Report For First Quarter, 2024




   Bingshan Refrigeration & Heat Transfer
           Technologies Co., Ltd.
QUARTERLY REPORT FOR FIRST QUARTER,
                    2024




                                     April, 2024




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                 Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. Quarterly Report For First Quarter, 2024
                   Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.
                      QUARTERLY REPORT FOR FIRST QUARTER, 2024

  Important Notes
  1.1 The directors and the Board of Directors, the supervisors and the Supervisory Board, and Senior staff members
  of Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. (hereinafter referred to as the Company) hereby
  confirm that there are no any important omissions, fictitious statements or serious misleading carried in this report,
  and shall take all responsibilities, individual and/or joint, for the reality, accuracy and completeness of the whole
  contents.
  1.2 Chairman of the Board of Directors of the Company, Financial Majordomo, and the head of Accounting
  Department hereby confirm that the financial report of the quarterly report is true and complete.
  1.3 This report is written respectively in Chinese and in English. In the event of any discrepancy between the two
  above-mentioned versions, the Chinese version shall prevail.

  §1 Major accounting data
  1.1 Major accounting data and financial indexes


                                                                                                         Increase/decrease compared
                                                      January-March, 2024       January-March, 2023
                                                                                                             with previous year

  Operating revenue                                         1,160,307,673.73          1,072,560,425.76                            8.18%

  Net profit attributable to shareholders of listed
                                                              29,260,174.46              25,392,393.54                        15.23%
  companies
  Net profit belonging to the shareholders of
  listed companies after the deduction of non-                24,431,907.94              13,312,360.06                        83.53%

  recurring profit and loss
  Net cash flow from operating activities                    -158,187,622.10           -158,425,157.75                            0.15%

  Basic earnings per share                                               0.03                     0.03                            0.00%

  Diluted earnings per share                                             0.03                     0.03                            0.00%

  Weighted average return on net asset yield                          0.96%                     0.84% Increase 0.12 percentage points

                                                                                                         Increase/decrease compared
                                                        March 31, 2024          December 31, 2023
                                                                                                            with year beginning
  Total assets                                              7,956,895,566.54          8,162,848,294.25                        -2.52%

  Owner's equity attributable to shareholders of
                                                            3,078,081,210.25          3,047,513,577.75                            1.00%
  listed companies
  1.2 non-recurring gains and losses
  √ Applicable □ Inapplicable
                                                                                                   Amount from beginning of
                              Item of non-recurring gains and losses
                                                                                                 year to the end of report period
Disposal gains and losses of non-current asset                                                                         9,842,785.72
Government subsidies included in current profit or loss                                                                5,572,744.65
In addition to the effective hedging business related to the normal operation of the
company, the profit or loss of fair value changes arising from the holding of financial                              -11,019,108.08
assets and financial liabilities by non-financial enterprises and the loss or gain arising
from the disposal of financial assets and financial liabilities
Gains and losses on debt restructuring                                                                                   697,490.42
Other operating revenue or expense                                                                                       443,185.44
Income tax effect                                                                                                        701,024.38
Minority shareholders’ gains and losses                                                                                   7,807.25
                                           Total                                                                       4,828,266.52

  1.3 Major changes in main financial items and indexes, and description of the cause
                                                                                                                                    2
                  Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. Quarterly Report For First Quarter, 2024
        √ Applicable □ Inapplicable
   (1). Salary payable decreased 66.85% compared with the beginning of the year, mainly due to the payment of provision employee
   compensation of last period-end during the reporting period.
   (2). Long-term payables decreased 37.82% compared with the beginning of the year, mainly due to sale-leaseback payments.
   (3). Other income increased by 6.08 million yuan year-on-year, mainly due to the deduction of manufacturing value-added tax
   input tax and the refund of previous premium.
   (4). Gain from change in fair value decreased by 19.42 million year-on-year, mainly due to the Guotai Junan stock price decline.
   (5). Asset disposal income increased by 10.33 million year-on-year, mainly due to the sale of machinery and equipment and gage
   molds by the Company's subsidiary Sonyo Compressor.
   (6).Net cash flow arising from investment activities increased by 30.33 million yuan year-on-year, mainly due to the sale of
   machinery and equipment and gage molds by the Company's subsidiary Sonyo Compressor.

        §2 shareholders information
        2.1 Total number and particulars of the shareholders by the end of the report period

Total number of shareholders in the reporting                    Total number of shareholders as of the last month
                                                     53,903                                                                                0
period                                                           before disclosure of the annual report
                                                  Shareholding of top ten shareholders
                                                                                                                               Number of
                                                                                                                Number of
                                                                                                                                pledged
                                                                                                                  shares
                    Name                                   Nature                 Proportion Total number                      shares or
                                                                                                                with sale
                                                                                                                                shares
                                                                                                                restriction
                                                                                                                                frozen
                                                Domestic      non-state-owned
Dalian Bingshan Group Co., Ltd.                                                      20.27%       170,916,934              0               0
                                                legal person
Sanyo Electric Co., Ltd.                        Overseas legal person                 8.72%        73,503,150              0               0
Chen Xianlai                                    Domestic natural person               0.87%         7,326,500              0               0
Lin Zhenming                                    Foreign natural person                0.80%         6,730,000              0               0
Zhang Sufen                                     Domestic natural person               0.60%         5,050,000              0               0
Cao Yifan                                       Domestic natural person               0.54%         4,529,700              0               0
Li Xiaohua                                      Domestic natural person               0.48%         4,056,608              0               0
Xue Hong                                        Domestic natural person               0.43%         3,640,000              0               0
China Merchants Bank Co., Ltd.-Dongfang
Red Jingdong Big Data flexible allocation of Others                                   0.40%         3,349,317              0               0
hybrid securities investment funds
Wu An                                        Domestic natural person                  0.36%         3,050,000              0               0
                                    Shareholding of top ten shareholders without sale restriction
                                                                   Number of shares without
                            Name                                                                            Type of shares
                                                                         sale restriction
Dalian Bingshan Group Co., Ltd.                                                    170,916,934     RMB denominated ordinary shares
Sanyo Electric Co., Ltd.                                                            73,503,150     Domestically listed foreign shares
Chen Xianlai                                                                          7,326,500    RMB denominated ordinary shares
Lin Zhenming                                                                          6,730,000    Domestically listed foreign shares
Zhang Sufen                                                                           5,050,000    RMB denominated ordinary shares
Cao Yifan                                                                             4,529,700    Domestically listed foreign shares
Li Xiaohua                                                                            4,056,608    RMB denominated ordinary shares
Xue Hong                                                                              3,640,000    Domestically listed foreign shares
China Merchants Bank Co., Ltd.-Dongfang Red Jingdong Big
                                                                                    3,349,317 RMB denominated ordinary shares
Data flexible allocation of hybrid securities investment funds
Wu An                                                                               3,050,000      Domestically listed foreign shares




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                 Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. Quarterly Report For First Quarter, 2024

                                                                Dalian Bingshan Group Co., Ltd. had the association relationship
Notes to the associated relationship and uniform actions of the with Sanyo Electric Co., Ltd. among the above shareholders. Sanyo
                      above shareholders                        Electric Co., Ltd. holds 26.6% of Dalian Bingshan Group Co.,
                                                                Ltd.'s equity.



       Note: At the end of the reporting period, the total number of shareholders of the Company was 53,903, including
       46,802 A-share shareholders and 7,101 B-share shareholders.

       2.2 Total number of preferred shareholders and shareholding of top 10 preferred shareholders of the company
       □Applicable √Inapplicable

       §3 Other important matters
       □Applicable √Inapplicable

       §4 Financial Report (attached)
       Not audited.


                                              Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.
                                                                      April 26, 2024




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               Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. Quarterly Report For First Quarter, 2024
                                        CONSOLIDATED BALANCE SHEET
       Prepared by Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. March 31, 2024     Unit: RMB Yuan
                               Items                                           31-Mar-2024             1-Jan-2024
Current assets:
Monetary funds                                                                    837,956,406.73           951,039,570.11
Transaction financial assets
Financial assets which are measured by fair value and which changes
are recorded in current profit and loss
Derivative financial assets
Notes receivable                                                                  302,890,764.19           353,428,922.42
Accounts receivable                                                              1,704,523,490.19        1,576,433,924.16
Receivables financing                                                             250,452,441.77           303,585,218.53
Accounts in advance                                                               176,623,207.68           153,388,660.48
Other receivables                                                                  39,447,261.05            41,396,223.27
     Interest receivables
     Dividend receivable                                                                                        14,495.00
Inventories                                                                      1,538,561,983.15        1,638,139,479.14
Contract assets                                                                   248,492,461.46           237,076,878.71
Assets held for sale
Non-current asset due within one year
Other current assets                                                               25,172,178.95            26,074,342.33
Total current assets                                                             5,124,120,195.17        5,280,563,219.15
Non-current assets:
Finance asset held available for sales
Held-to-maturity investment
Long-term account receivable
Long-term equity investment                                                       526,626,906.28           521,274,947.50
Other non-current financial assets                                                153,005,663.55           164,024,771.63
Investment property                                                               121,840,298.33           123,589,681.50
Fixed assets                                                                     1,243,520,286.74        1,291,851,402.46
Construction in progress                                                          119,597,268.44           114,801,351.21
Right-of-use asset                                                                 28,177,062.69            30,548,057.08
Productive biological asset
Oil and gas asset
Intangible assets                                                                 209,328,777.69           210,554,161.22
Expense on Research and Development
Goodwill                                                                          286,402,171.93           286,402,171.93
Long-term expenses to be apportioned                                                 6,963,128.76            5,346,321.60
Deferred income tax asset                                                         117,070,457.52           113,648,859.53
Other non-current asset                                                            20,243,349.44            20,243,349.44
Total non-current asset                                                          2,832,775,371.37        2,882,285,075.10
                                   Total assets                                  7,956,895,566.54        8,162,848,294.25
Current liabilities:
Short-term loans                                                                  292,491,975.90           262,287,784.38
Financial liabilities which are measured by fair value and which
changes are recorded in current profit and loss
Derivative financial liabilities
Transaction financial liabilities

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             Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. Quarterly Report For First Quarter, 2024
Notes payable                                                                         591,565,938.17               670,720,999.48
Accounts payable                                                                    1,707,656,617.57             1,655,835,363.01
Accounts received in advance
Contract liability                                                                    711,801,205.02               787,685,294.53
Wage payable                                                                           49,552,878.27               149,497,113.46
Taxes payable                                                                          26,074,319.14                22,216,492.26
Other accounts payable                                                                229,925,248.19               278,804,152.17
Interest payable
Dividend payable                                                                          533,156.00                   533,156.00
Liabilities held for sale
Non-current liabilities due within one year                                           144,731,040.20               150,645,347.64
Other current liabilities                                                             192,172,143.01               203,315,864.43
Total current liabilities                                                           3,945,971,365.47             4,181,008,411.36
Non-current liabilities:
Long-term loans                                                                       679,700,000.00               679,700,000.00
Bonds payable
     Preferred stock
     Perpetual bond
Lease liability                                                                        26,023,383.33                24,134,986.97
Long-term account payable                                                               6,423,973.21                10,331,937.30
Long-term wage payable
Special payable
Anticipation liabilities                                                                4,846,306.82                 4,544,802.88
Deferred income                                                                        99,870,197.88                98,274,267.80
Deferred income tax liabilities                                                        60,053,341.07                60,811,462.07
Other non-current liabilities
Total non-current liabilities                                                         876,917,202.31               877,797,457.02
                                Total liabilities                                   4,822,888,567.78             5,058,805,868.38
Shareholders’ equity
Share capital                                                                         843,212,507.00               843,212,507.00
Other equity instruments
Preferred stock
Perpetual bond
Capital public reserve                                                                717,097,098.38               717,097,098.38
Less:Treasury stock
Other comprehensive income                                                              2,208,669.73                 2,208,669.73
Special preparation                                                                      1,117,339.48                  449,374.96
Surplus public reserve                                                                867,216,998.79               867,159,439.34
Generic risk reserve
Retained profit                                                                       647,228,596.87               617,386,488.34
Total owner’s equity attributable to parent company                                3,078,081,210.25             3,047,513,577.75
Minority interests                                                                     55,925,788.51                56,528,848.12
Total owner’s equity                                                               3,134,006,998.76             3,104,042,425.87
              Total liabilities and shareholder’s equity                            7,956,895,566.54             8,162,848,294.25
 Legal Representative: Ji Zhijian Chief Financial Official: Wang Jinxiu   Person in Charge of Accounting Organization: Li Sheng




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                 Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. Quarterly Report For First Quarter, 2024
                                   CONSOLIDATED INCOME STATEMENT
   Prepared by Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.           January-March,2024       Unit: RMB Yuan
                                   Items                                              January-March, 2024       January-March, 2023
I. Total sales                                                                               1,160,307,673.73          1,072,560,425.76
II. Total operating cost                                                                     1,160,307,673.73          1,072,560,425.76
Including: Operating cost                                                                     968,297,921.32            893,235,841.55
              Taxes and associate charges                                                        7,555,059.28              7,355,461.08
              Selling and distribution expenses                                                48,786,253.07             44,194,998.88
              Administrative expenses                                                          57,612,917.61             55,492,524.43
              R&D expenses                                                                     36,893,623.10             30,168,249.27
              Financial expense                                                                  7,033,864.59              9,150,034.85
                 Including: interest expense                                                     8,852,515.46              9,229,081.55
                             interest income                                                     2,581,270.98              2,817,923.65
Add: Other income                                                                                7,327,524.19              1,247,311.30
     Gain/(loss) from investment                                                                 5,589,837.86              4,117,367.95
     Including: income from investment on affiliated enterprise and jointly
                                                                                                 5,003,981.26              4,117,367.95
enterprise
     Gain/(loss) from change in fair value                                                     -11,019,108.08              8,400,706.16
     Credit impairment loss (loss as “-“)                                                     -7,305,886.60            -16,010,380.50
     Assets impairment loss (loss as “-“)                                                     -2,268,116.37             -3,411,761.41
     Gain/(loss) from asset disposal                                                           10,335,085.68                  6,743.57
III. Operating profit                                                                          36,787,371.44             27,313,302.77
Add: non-business income                                                                          953,924.20               2,004,115.73
Less: non-business expense                                                                       4,053,521.02                40,595.28
IV. Total profit                                                                               33,687,774.62             29,276,823.22
Less: Income tax                                                                                 5,075,197.58              3,661,167.12
V. Net profit                                                                                  28,612,577.04             25,615,656.10
     (I) Net profit from continuous operation
     (II)Net profit from discontinuing operation
     Net profit attributable to parent company                                                 29,260,174.46             25,392,393.54
     Minority shareholders’ gains and losses                                                    -647,597.42                223,262.56
VI. After-tax net amount of other comprehensive incomes
   After-tax net amount of other comprehensive incomes attributable to owners
of the Company
     (I) Other comprehensive incomes that will not be reclassified into gains
and losses
       1. Changes in net liabilities or assets with a defined benefit plan upon re-
measurement
       2. Enjoyable shares in other comprehensive incomes in invests that
cannot be reclassified into gains and losses under the equity method
     (II) Other comprehensive incomes that will be reclassified into gains and
losses
       1. Enjoyable shares in other comprehensive incomes in invests that will
be reclassified into gains and losses under the equity method
         2. Changes in the fair value of other debt investments
         3. Gains and losses on fair value changes of available-for-sale financial
assets
       4. The amount of financial assets reclassified into other comprehensive
income
       5. Held-to-maturity investments are reclassified as saleable financial
asset gains and losses
       6.Others


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               Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. Quarterly Report For First Quarter, 2024
      After-tax net amount of other comprehensive incomes attributable to
 minority shareholders
 VII Total comprehensive income                                                                 28,612,577.04               25,615,656.10
   Total comprehensive income attributable to parent company                                    29,260,174.46               25,392,393.54
   Total comprehensive income attributable to minority shareholders                               -647,597.42                  223,262.56
 VIII. Earnings per share
   (I) basic earnings per share                                                                          0.03                        0.03
   (II) diluted earnings per share                                                                       0.03                         0.03
   Legal Representative: Ji Zhijian     Chief Financial Official: Wang Jinxiu   Person in Charge of Accounting Organization: Li Sheng




                                 CONSOLIDATED CASH FLOW STATEMENT
    Prepared by Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.           January-March,2024       Unit: RMB Yuan
                                           Items                                           January-March, 2024      January-March, 2023
I. Cash flows arising from operating activities:
  Cash received from selling commodities and providing labor services                            1,047,185,399.83           848,311,616.94
  Write-back of tax received                                                                        14,163,964.37             6,265,704.09
  Other cash received concerning operating activities                                               22,322,467.98            28,555,774.47
Subtotal of cash inflow arising from operating activities                                        1,083,671,832.18           883,133,095.50
  Cash paid for purchasing commodities and receiving labor service                                 881,068,805.80           711,343,062.20
  Cash paid to/for staff and workers                                                               262,539,400.73           224,231,527.95
  Taxes paid                                                                                        46,204,710.30            42,840,851.22
  Other cash paid concerning operating activities                                                   52,046,537.45            63,142,811.88
Subtotal of cash outflow arising from operating activities                                       1,241,859,454.28         1,041,558,253.25
Net cash flows arising from operating activities                                                  -158,187,622.10          -158,425,157.75
II. Cash flows arising from investing activities:
  Cash received from recovering investment
  Cash received from investment income                                                                  14,495.00                14,495.00
  Net cash received from disposal of fixed, intangible and other long-term assets                   30,109,304.89               180,542.32
  Net cash received from disposal of subsidiaries and other units
  Other cash received concerning investing activities
Subtotal of cash inflow from investing activities                                                   30,123,799.89               195,037.32
  Cash paid for purchasing fixed, intangible and other long-term assets                             13,737,848.32            14,142,179.85
  Cash paid for investment
  Net cash paid for achievement of subsidiaries and other business units
  Other cash paid concerning investing activities
Subtotal of cash outflow from investing activities                                                  13,737,848.32            14,142,179.85
Net cash flows arising from investing activities                                                    16,385,951.57           -13,947,142.53
III. Cash flows arising from financing activities
  Cash received from absorbing investment
  Including: Cash received from absorbing minority shareholders' equity investment by
subsidiaries
  Cash received from loans                                                                         170,848,339.00           178,525,821.90
  Cash received from issuing bonds
  Other cash received concerning financing activities                                                2,000,000.00            58,691,779.74
Subtotal of cash inflow from financing activities                                                  172,848,339.00           237,217,601.64
  Cash paid for settling debts                                                                     135,000,000.00           147,000,000.00
  Cash paid for dividend and profit distributing or interest paying                                  7,509,871.89             7,471,261.97

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               Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. Quarterly Report For First Quarter, 2024
  Including: dividends or profit paid by subsidiaries to minority shareholders
  Other cash paid concerning financing activities                                                    16,581,288.91            62,728,621.32
Subtotal of cash outflow from financing activities                                                  159,091,160.80           217,199,883.29
Net cash flows arising from financing activities                                                     13,757,178.20            20,017,718.35
IV. Influence on cash due to fluctuation in exchange rate                                               835,808.20              -406,667.62
V. Net increase of cash and cash equivalents                                                       -127,208,684.13          -152,761,249.55
Add: Balance of cash and cash equivalents at the period -begin                                      670,440,335.98           921,663,803.17
VI. Balance of cash and cash equivalents at the period–end                                          543,231,651.85           768,902,553.62
    Legal Representative: Ji Zhijian Chief Financial Official: Wang Jinxiu       Person in Charge of Accounting Organization: Li Sheng




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