Stock Code: 000530; 200530 Short Form of the Stock: Daleng Gufen; Daleng B; No: 2013-023
DALIAN REFRIGERATION CO., LTD.
2013 SEMIANNUAL REPORT SUMMARY
§1 Important Notes
(1)This summary is extracted from the original of the semiannual report, which is disclosed on
the Internet （http://www.cninfo.com.cn）. For more information, the investors are
recommended to refer to the original.
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.
(2) Company Profile
Short form of the stock DALENG GUFEN; DALENG-B
Stock code 000530; 200530
Listed stock exchange Shenzhen Stock Exchange
Secretary of the Board of Authorized representative in
Directors charge of securities affairs
Name Mr. Song Wenbao Mr. Song Wenbao(proxy)
Contact address Securities Department of Dalian Securities Department of
Refrigeration Co., Ltd. Dalian Refrigeration Co., Ltd.
Telephone 0086-411-86538130 0086-411-86538130
Fax 0086-411-86654530 0086-411-86654530
E-mail 000530@bingshan.com 000530@bingshan.com
§2 Major Accounting Data and Particulars about Shareholders
(1) Summary of the accounting data and indexes
Did the Company retroactively adjust or restate the accounting data of previous years due to
change in the accounting policy and correction of accounting mistakes?
□ Yes √ No
Report period (from Jan. Same period in the Increase/decrease compared with the
Summary of the accounting data
through Jun.) last year same period of the last year (%)
Operating revenue 792,124,153.23 851,218,300.53 -6.94%
Net profit attributable to shareholders of
65,122,435.00 66,392,427.44 -1.91%
listed companies
Net profit belonging to the shareholders of
listed companies after the deduction of non- 62,382,278.37 63,276,376.07 -1.41%
recurring profit and loss
Net cash flow from operating activities 3,743,258.07 -127,635,520.05 102.94%
Basic earning per share 0.19 0.19 0.00%
Diluted earnings per share 0.19 0.19 0.00%
Weighted average return on net asset yield 3.61% 3.81% Decrease 0.20 percentage points
Increase/decrease compared with the
End of this report period End of last year
end of last year (%)
Total assets 2,938,354,029.31 2,937,190,656.69 0.04%
Owner's equity attributable to shareholders
1,819,351,823.30 1,808,800,737.71 0.58%
of listed companies
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(2) Particulars about the shares held by the top ten shareholders
Unit: share
Total number of shareholders in the reporting period 40,690
Shareholding of top ten shareholders
Number of Number of
Name Nature Proportion Total number shares with sale pledged shares
restriction or shares frozen
Dalian Bingshan Group Co., Ltd. Domestic non-state-owned legal person 21.96% 76,855,683 19,213,921
Sanyo Electric Co., Ltd. Overseas legal person 10.00% 35,001,500 0
Putian income securities investment fund Others 2.04% 7,125,361 0
BOCI SECURITIES LIMITED Overseas legal person 0.98% 3,427,177 0
Xinhua Life Insurance Co., Ltd.－traditional－
Others 0.65% 2,288,000 0
common insurance products-018L-CT001 Shen
CIFM industrial rotation stock type securities
Others 0.56% 1,959,050 0
investment fund
Jiang Youchang Domestic natural person 0.49% 1,721,075 0
Merchants high-quality growth stock type securities
Others 0.49% 1,700,000 0
investment fund
Guoyuan Securities Brokerage (Hong Kong)
Overseas legal person 0.47% 1,628,755 0
Limited
Dalian Industrial Development Investment Company Domestic non-state-owned legal person 0.46% 1,622,250 0
Dalian Bingshan Group Co., Ltd. had the association relationship with Sanyo Electric
Notes to the associated relationship and uniform actions of the above
Co., Ltd. among the above shareholders. Sanyo Electric Co., Ltd. holds 30% of Dalian
shareholders Bingshan Group Co., Ltd.'s equity.
(3) Changes in the controlling shareholder and actual controllers
□Applicable √ Not applicable
§3 Discussion and analysis of the management
After the management changing work was finished in the first half year of 2013, the new
leading group brought up a new operating philosophy as being pragmatic, changing, sustained
new operation and the operating theme for 2013 as changing, upgrading. Being faced with
many unfavorable factors such as insufficient investment power, weak consumption growth,
credit fund shortage, low market demand, etc., the company launched an attack on its own
initiative, seized the opportunities without delay, actively made a comprehensive change, made
effort to open up market externally, badly emphasized basic management internally, strived to
realize the operation plan indicators and lay a solid foundation for sustained development in
future. In the report period, the Company made the sales income of 792.12 million yuan,
accounting for 49.20% of 1,610 million yuan of the Company’s annual business indicator for
2013, down by 6.94% from the same period of last year; and the total amount of profit of 71.6
million yuan, accounting for 53.04% of 135 million yuan of the Company’s annual business
indicator for 2013, down by 1.18% from the same period of last year.
In the report period, the company attended China Refrigeration Exhibition in a unified group
image, held meetings for nationwide distributors, established sales directors for ten major
nationwide regions and adopted such changing moves as reforming the distribution system for
salespersons, perfecting the after-sale maintenance system, etc. to respond to market changes
actively and upgrade the marketing work with effort.
In the report period, the company took the initiative to strengthen the basic management,
upgrade the implementation capacity and improve quality and benefits through such changing
moves as adjusting the organization structure and mid-level cadres, OA basic platform erection,
promotion of 5S activities, putting into practice new work modes, etc.
In the report period, ORC screw expansion power generation device developed by Wuxin
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Refrigeration, one of the subsidiaries of the company, made a successful trial run. That device
adopts full microcomputer control, realizes full automation of device power generation through
monitoring of variable frequency working medium pump, liquid level sensor and expander
rotation speed, grid electricity load, and provides a full automatic protection to the unit through
the pneumatic fast closing valve, fast opening valve of the system. That device can recover
such heat sources as waste water, waste gas, etc. below 200℃, broadening the range of residual
resources that can be recovered to generate electricity.
In the report period, Dalian Sanyo Compressor, in which the company participates and which is
a leading scroll compressor producer domestically, made a new progress in market opening up,
with the scale effect continuing to exhibit, the sales income being up by 22% from the same
period last year, the gross profit ratio being up by 1.66 percent from the same period of last
year and the net profits also having a substantial growth as compared to the same period of last
year.
In the report period, Dalian Sanyo Cold Chain in which the company participates carried out in-
depth production innovation activities and improved the production efficiency and saved the
labor cost by taking such moves as replacing operators with robots, replacing manual lines with
automatic lines, etc. The three testing laboratories achieved national level energy efficiency
testing qualification, reaching national level requirements in respect of energy efficiency
limitation for commercial refrigerating equipment. Under the influence of insufficient orders
from overseas market and Japanese Yen depreciation, the sales income reduced by 13% from
the same period last year with the net profits also having a substantial decrease as compared to
the same period last year.
In the report period, Dalian Sanyo Refrigeration in which the company participates, through
integrated operation with Dalian Sanyo Air-conditioner, realized an optimum configuration of
resources for large size air-conditioner business, resulting in the sales income having a
substantial growth from the same period last year; under the influence of Japanese Yen
depreciation, there was a net loss in exchange influencing the net profits. The national level
high-tech enterprise review work for 2012 was successfully passed, and extension of the
preferential policy on 10% enterprise income tax reduction and exemption for another three
years was gained.
In the report period, in order to further perfect the cold and hot product chains, the company
signed an agreement with Japan Mitsubishi Heavy Industry Co., Ltd. to invest jointly to
establish a Sino-Japanese joint venture engaging in R & D, purchase, manufacture, sales and
after-sale service of centrifugal type refrigerating unit. The company contributed with cash of
RMB 36 million yuan, holding 45% shares of the joint venture. Through intense preparatory
work for over 3 months, Mitsubishi-Bingshan Refrigeration (Dalian) Co., Ltd. was formally
established on Jul. 8, 2013 under approval of the government. On Jul. 25, the new factory held
an earth-breaking ceremony in D-D Port of Dalian Development Zone and it is expected that
the formal production will be in the early of next year.
In the report period, the company increased capital in Dalian Bingshan Group Import & Export
Co., Ltd. in which it participates in the form of converting the undistributed profits that it
should enjoy into registered capital. The capital increase this time has been finished. The
registered capital of that company has increased from RMB 5 million yuan to RMB 30 million
yuan, and at the same time the name of that company has been changed to Dalian Bingshan
Engineering & Trading Co., Ltd. The shareholding proportion of the company remains
unchanged, which is still 24%.
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§4 Events relating to the Financial Report
(1) Changes in accounting policies, estimates or major accounting errors
□ Applicable √ Inapplicable
(2) The changes of the scope of consolidation
□Applicable √Inapplicable
Board of Directors of Dalian Refrigeration Co., Ltd.
August 20, 2013
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