Stock Code: 000530; 200530                                 No: 2016-047
Short Form of the Stock: Daleng Gufen; Daleng B

                    Dalian Refrigeration Co., Ltd.
          Notice of Progress of Frozen Joint Venture Project
Dalian Refrigeration Co., Ltd. and its whole members of Board of Directors ensure
that the public notice is real, accurate and complete, and there are no any important
omissions, fictitious statements or serious misleading carried in this notice.


The 5th meeting of 7th session of the Board was held on 21 April 2016 by Dalian
Refrigeration Co., Ltd. (the “Company”), deliberated and approved the “Report of
Frozen Joint Venture Project”. The Company was permitted to invest a joint venture
with Panasonic (China) Co., Ltd., Panasonic Cold Chain (Dalian) Co., Ltd., and
Panasonic Compressor (Dalian) Co., Ltd. to provide comprehensive solution for
customer with fluorine cold chain system. More details of the above mentioned events
as well as the main content of investment contract signed, please found in the
Resolution Notice of the Board (No.: 2016-037) and Public Notice on Related
Transaction of Frozen Joint Venture Project (No.: 2016-038) released on China
Securities Journal, Hong Kong Commercial Daily and Juchao Website dated 22 April
2016.
Currently, the joint venture, Panasonic Appliances Refrigeration System (Dalian) Co.,
Ltd., has been built, and related industrial and commercial registration has been
completed.
Hereby notified


                                            Board of Directors of
                                         Dalian Refrigeration Co., Ltd.
                                                21 June 2016