Stock Code: 000530; 200530 Short Form of the Stock: Daleng Gufen; Daleng B; No: 2017-036
Dalian Refrigeration Co., Ltd.
2017 Semiannual Report Summary
§1 Important Notes
This summary is extracted from the original of the semiannual report. For more information, the
investors are recommended to refer to the original.
Company Profile
Short form of the stock DALENG GUFEN; DALENG-B
Stock code 000530; 200530
Listed stock exchange Shenzhen Stock Exchange
Contact persons Secretary of the Board of Directors Authorized representative in charge of securities affairs
Name Song Wenbao Du Yu
DALENG GUFEN Securities﹠Legal
DALENG GUFEN Securities﹠Legal AffairsNo.106,
Affairs No.106, Liaohe East Road,
Contact address Liaohe East Road, Dalian Economic and Technological
Dalian Economic and Technological
Development Zone
Development Zone
Telephone 0411-87968130 0411-87968822
Fax 0411-87968125 0411-87968125
E-mail 000530@bingshan.com 000530@bingshan.com
§2 Summary of Accounting Data and Financial Indexes
2.1 Main accounting data (Unit: RMB Yuan)
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
Increase/decrease compared with
item 2017.01-06 2016.01-06 previous period
Operating revenue 1,002,378,717.50 830,873,999.65 20.64%
Net profit attributable to shareholders of listed companies 98,260,163.09 70,632,718.91 39.11%
Net profit belonging to the shareholders of listed companies
69,960,863.49 65,055,890.10 7.54%
after the deduction of non-recurring profit and loss
Net cash flow from operating activities -148,577,541.90 -51,268,538.89 -189.80%
Basic earning per share 0.115 0.089 29.21%
Diluted earnings per share 0.115 0.089 29.21%
Weighted average return on net asset yield 2.95% 2.64% Increase 0.31 percentage points
Increase/decrease compared with
2017.6.30 2016.12.31
2016.12.31
Total assets 5,372,939,781.32 5,095,986,440.32 5.43%
Owner's equity attributable to shareholders of listed companies 3,309,730,421.64 3,301,087,748.86 0.26%
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2.2 Statement of shares held by the top ten common shareholders
Total number of shareholders in the reporting period 41,442
Shareholding of top ten shareholders
Number of Number of pledged
Name Nature Proportion Total number shares with sale shares or shares
restriction frozen
Dalian Bingshan Group Co., Ltd. Domestic non-state-owned legal person 19.96% 170,916,934 0 0
Sanyo Electric Co., Ltd. Overseas legal person 8.58% 73,503,150 0 0
Zheshang Juchao industry grow
Others 2.56% 21,896,286 0 0
hybrid securities investment fund
Zheshang Juchao New thinking
Others 1.58% 13,503,638 0 0
hybrid securities investment fund
National Social Security Funds 104
Others 1.31% 11,199,297 0 0
Portfolio
Industrial Securities Golden Kylin
No. 2 Collective Asset Management Others 1.07% 9,163,753 0 0
Plan
National Social Security Funds 503
Others 0.96% 8,210,314 0 0
Portfolio
Caitong Capital Kunze No. 2
Others 0.96% 8,210,313 0 0
Securities vInestment Fund
Shenzhen B & D Capital Fengnian
Others 0.96% 8,210,313 0 0
Jinjia No. 1 Fund
Lin Zhenming Overseas natural person 0.73% 6,230,000 0 0
Dalian Bingshan Group Co., Ltd. had the association relationship
Notes to the associated relationship and uniform actions of the above with Sanyo Electric Co., Ltd. among the above shareholders. Sanyo
shareholders Electric Co., Ltd. holds 26.6% of Dalian Bingshan Group Co., Ltd.'s
equity.
2.3 Statement of shares held by the top ten preferred shareholders
□ Yes √ No
2.4 Variation in controlling shareholders or actual controllers
Variation in controlling shareholders in the report period
□ Applicable √ Not applicable
There were no changes in the controlling shareholder in the reporting period.
Variation in actual controllers in the report period
□ Applicable √ Not applicable
§3 Discussion and analysis of the management
In the first half of 2017, the Company focused on "activating, integrating and promoting",
maintained strategic strength, activated endogenous power, integrated system resources, brought
together competencies, promoted operational quality and efficiency, and strived to achieve key
business targets. In the first half of 2017, the Company achieved operating income of 1,002.38
million Yuan, with a year-on-year growth of 20.64%; achieved a total profit of 104.9 million Yuan,
with a year-on-year growth of 36.95%.
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During the reporting period, the Company succeeded in completing the overall removal and
reconstruction, the intelligent, environmental, efficient and safe new plant was put into use. On
May 7, 2017, the Company's new plant – Bingshan Double D Port Industrial Park officially
opened. On June 26, 2017, Premier Li Keqiang went to the Company's new factory for field
research and gave positive evaluation.
During the reporting period, the Company's subsidiary Wuxin Refrigeration basically completed
the nationwide regional distribution for the demonstration of its new products, the income of new
products increased by more than 50% on a year-on-year basis, the strategic transformation results
are obvious. Based on the successful launch of China's first set of natural gas pipeline pressure
energy for generating electricity and cold energy recovery system, multiple application projects in
many places were proceeding orderly by technology marketing and government marketing.
During the reporting period, the Company's subsidiary Bingshan Engineering Company continued
to deepen the market segmentation, and the orders in cold chain logistics, fishing industry, beer
dairy products, fine chemicals and other fields achieved great growth. Signed natural gas
distributed energy sources electromechanical general contract with Jiangsu Runchang, the total
contract amount was about 160 million Yuan. And signed the first high-end indoor snow field
project with Guangzhou Wanda, snow and ice business achieved a new breakthrough.
During the reporting period, the Company’s subsidiary Bingshan Service Company flexibly used
Bingshan internet of things cloud platform, actively expanded new service business fields, and
signed the first machine room hosting contract with Tianjin Ershang which initiated the machine
room hosting of large-scale ammonia system in the refrigeration industry, the maintenance income
had a year-on-year growth of more than 50%.
During the reporting period, the horizontal scroll compressor for rail transit air conditioning newly
developed by the Company's related Company Panasonic Compressor has been well expanded in
subway, light rail and other fields. It also achieved new results in the expansion of overseas
market, the income in European market increased by about 50% on a year-on-year basis. Impact
by the state’s policies of reorganizing the electric bus market and cutting down the subsidies, the
sales volume of horizontal scroll compressor for electric bus sharply reduced, coupled with the
rapid rise in the price of bulk raw materials, the net profit greatly declined on a year-on-year basis.
During the reporting period, the Company's related Company, Panasonic Cold Chain, conformed
to the new trend of consumption and actively expanded and subdivided the blue ocean market.
The convenience store business, new developed SF and Beijing 7-11 and other customers, and the
income achieved a year-on-year growth of 28%. Biomedical care, medical ultra-low temperature
refrigerator, blood refrigerator, incubator and other new products in the hospitals, blood stations,
and scientific research and other fields have achieved application breakthroughs, and the income
achieved a year-on-year growth of more than 50%.
During the reporting period, the Company's related Company Fushi Bingshan fully realized the
intelligent upgrading of products, and the product diversification has taken a solid step. In addition
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to beverage machine, the large food machine, coffee machine, liquor machine, box lunch machine
and other new models have completed development and began mass production. The
world-leading intelligent manufacturing new plant for vending machine has been constructed and
put into operation; the production capacity has been doubled and can better respond to the rapid
growth of unmanned vending machine.
During the reporting period, based on the overall positioning of cold and hot industrial investment
platform, the Company increased the capital operation, and implemented the first batch of
acquisition to high-quality assets of controlling shareholders. The acquisition has been completed
by the end of April 2017, and the Company currently holds 100% stake in BSET and 49% stake in
Bingshan Metal Technology.
During the reporting period, the Company has rented out both land and housing of old factory to
Bingshan Wisdom Park Company for its construction and development. Bingshan Wisdom Park
shall center on the intelligent science and technology, focus on breaking through the internet of
things, big data applications, wisdom recuperation, wisdom education and other fields, strive to
build Bingshan industrial ecosphere, and create new engine for business growth.
§4 Matters related to financial report
4.1 Change in accounting policies, accounting estimates and accounting methods compared with
the financial statements of the previous year
□Applicable√A Inapplicable
4.2 Correction of major accounting mistakes in the reporting period, which should be retroactively
restated
□Applicable√A Inapplicable
4.3 Explanation on change of consolidation scope in the report period compared with the latest
annual report
√Applicable □Inapplicable
This year, there are 2 more entities were included in the scope of consolidation, Dalian Bingshan
Engineering & Trading Co., Ltd.and Chengdu Bingshan Refrigeration Engineering Co., Ltd.
On February 15, 2017, the company’ board of directors decided to accept the transfer of 76%
equity stake of Dalian Bingshan Engineering and Trading Co., Ltd., the company’s former
associated company, after the acceptance of this transfer, Dalian Bingshan Engineering and
Trading Co., Ltd\. became a wholly-owned subsidiary of the company. As of June 30, 2017, the
above equity transaction has been completed. Therefore, the company held 100% equity stake of
Dalian Bingshan Engineering and Trading Co., Ltd. when establishing the consolidated statements
of current period. As Dalian Bingshan Engineering and Trading Co., Ltd. is also a subsidiary of
the parent company Dalian Bingshan Group Co., Ltd., the company has merged the subsidiary
Dalian Bingshan Engineering and Trading Co., Ltd. by the same control in current period, when
establishing the consolidated balance sheet, adjusted the beginning data of relevant projects of
consolidated balance sheet, and also adjusted the comparable data of the corresponding period
when establishing the income statements and cash flow statements.
The Board of Directors of the company’s subsidiary Dalian Bingshan Group Engineering Co., Ltd.
decided Dalian Bingshan Group Engineering Co., Ltd. and Chengdu New World Refrigeration
Equipment Engineering Co., Ltd. jointly invest and build a joint venture Chengdu Bingshan
Refrigeration Engineering Co., Ltd., Dalian Bingshan Group Engineering Co., Ltd. invested RMB
5.1 million in cash, holding 51% stake. As of June 30, 2017, Chengdu Bingshan Refrigeration
Engineering Co., Ltd. has officially started operating.
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4.4 Explanation of the Board of Directors to the “Non-standardized Opinion”
□Applicable √Inapplicable
Board of Directors of Dalian Refrigeration Co., Ltd.
August 26, 2017
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