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公司公告

冰山B:2022年第三季度报告(英文)2022-10-28  

                                       Stock Code: 000530; 200530 Short Form of the Stock:Bingshan;                Bingshan B No:2022-050


                    Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.
                       QUARTERLY REPORT FOR THIRD QUARTER, 2022

        The directors and the Board of Directors of Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.
        hereby confirm that there are no any important omissions, fictitious statements or serious misleading carried in
        this report.

         Important Notes
        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.
        2. Chairman of the Board of Directors of the Company Mr. Ji Zhijian, Financial Majordomo Mrs. Wang Jinxiu
           and the head of Accounting Department Mr. Li Sheng hereby confirm that the financial report of the quarterly
           report is true and complete.
        3. The Company’s quarterly financial report has not been audited.

        §1 Major accounting data and changes of shareholders
        1.1 Major accounting data and financial indexes
        Is there any traceable adjustment to the financial statements for the previous report period?
        □ Yes √ No
                                                         Increase/decrease                                  Increase/decrease
                              2022.7-9               2021.7-9                 2022.1-9         2021.1-9
                                                           over 2021.7-9                                      over 2021.1-9
Total operating income     752,258,640.60 657,628,182.17           14.39% 2,044,117,549.31 1,751,913,803.14            16.68%
Net profit attributable to
                           -21,540,127.71 -26,965,424.33          20.12%      8,028,223.81         -41,549,634.34                  119.32%
parent company
Net profit attributable to
parent company after
                           -23,177,485.56 -39,026,942.89          40.61%    -12,472,367.21         -50,909,617.50                   75.50%
deducting non-recurring
gains/losses
Net cash generated from
                                        _              _                 _ -294,901,573.59              4,865,672.01         -6,160.86%
operating activities
Basic earnings per share           -0.026         -0.030          13.33%              0.01                   -0.049                120.41%
Diluted earnings per
                                   -0.026         -0.030          13.33%              0.01                   -0.049                120.41%
share
Weighted average return                                      Increase0.08                                                    Increase 1.47
                                   -0.72%         -0.80%                             0.27%                   -1.20%
on net asset yield                                       percentage points                                               percentage points
                                         2022.9.30                      2021.12.31              Increase/decrease over 2021.12.31
Total assets                                5,919,364,392.25                   5,735,570,604.67                                 3.20%
Shareholder’s equity
attributable to parent                      2,996,716,902.50                   3,002,842,837.47                                -0.20%
company
         In the first three quarters of 2022, the Company's net profit turned from loss to profit, mainly due to the following
         reasons:
         1. During the reporting period, the Company focused on the hot and cold business, deeply cultivated the
         advantageous market segments, solidly enhanced the core competitiveness, and continuously improved the main
         business. Affected by adverse factors, and new retail related to the joint venture investment income significantly
         reduced.
         2. During the reporting period, the Company transferred 17.8% equity of Cold King Container Temperature
         Control (Suzhou) Co., LTD., and achieved net income of about 36.5 million Yuan in the current period; The
         Company reduced its holding of Jingxue Energy Saving by 2% through bulk transactions, achieving a net income
         of about 14.5 million yuan in the current period; The negative change in fair value of Guotai Junan brought a net
         loss of about 39 million yuan to the Company in the current period. The above items belong to non-recurring


                                                                                                                               1
     gains and losses.

                                                                             Amount of this   Amount from beginning of
               Item of non-recurring gains and losses                         report period year to the end of report period
Profit and loss from disposal of non-current assets                                50,429.22                     117,689.42
Government subsidies which were included in the current profits and
                                                                                5,353,698.82                   7,337,869.44
losses
When the investment cost of a subsidiary, associate or joint venture is
less than that of the investment, an enterprise shall enjoy the income
                                                                               14,673,186.02                  17,507,806.65
generated by the fair value of the identifiable net assets of the invested
entity
Disposal gains from investments on financial assets available for sale,
                                                                              -16,692,312.24                  -2,821,708.72
and gains from fair value change of other non-current financial assets
Other non-operating incomes and expenses except the above mentioned             1,798,538.68                   3,076,578.46
Income tax effects                                                              3,342,620.35                   4,335,503.48
Minority equity interests effects (after tax)                                     203,562.30                     382,140.75
Total                                                                           1,637,357.85                  20,500,591.02

     1.3 Major changes in main financial items and indexes, and description of the cause
     √ Applicable □ Inapplicable
     (1). Notes receivable increased 42.59% compared with the beginning of the year, mainly due to the increase in
     settlement bills.
     (2). Accounts receivable increased 36.61% compared with the beginning of the year, mainly due to the increase in
     operating revenue, the increase in engineering projects, the overall proportion of accounts receivable increased.
     (3). Receivables financing decreased 44.49% compared with the beginning of the year, mainly due to high credit
     banks not due acceptance.
     (4). Accounts paid in advance increased 57.01% compared with the beginning of the year, mainly due to the
     increase of orders in this period, especially the increase of engineering projects, we need to pay the suppliers in
     advance.
     (5). Other Non-current financial assets decreased 42.30% compared with the beginning of the year, Mainly due to
     the transfer of the company's 17.8% stake in Cold King Container Temperature Control (Suzhou) Co., LTD., and
     the negative change in the share price of Guotai Junan.
     (6). Construction in progress increased 60.13% compared with the beginning of the year, mainly because of the
     transformation of the workshop heat pump.
     (7). Right of use assets decreased 36.18% compared with the beginning of the year, mainly due to a decrease in
     leased office space.
     (8). Salary payable decreased 36.31% compared with the beginning of the year, mainly due to the current period
     has been paid at the end of the last period of the staff salary (year-end bonus, etc.)
     (9). Taxes payable increased 184.77% compared with the beginning of the year, mainly due to pay value added tax,
     income tax changes.
     (10). Other accounts payable decreased 55.74% compared with the beginning of the year, mainly to pay for
     personal reimbursement of the balance and pay for freight and other exchange expenses reduced.
     (11). Deferred income tax liabilities decreased 41.75% compared with the beginning of the year, mainly because
     Guotai Junan stock price negative change.
     (12).Gain from investment increased 341.07% on a year-on-year basis, mainly due to the transfer of 17.8% of the
     Company's holding of Cold King Container Temperature Control (Suzhou) Co., LTD., and the reduction of 2% of
     Crystal Snow Energy-saving shares.
     (13). Gain from change in fair value decreased 1,328.51% on a year-on-year basis, mainly because Guotai Junan
     stock price negative change.
     (14).Net cash flows arising from operating activities decreased 299.77 million yuan on a year-on-year basis,
     mainly due to an increase in product and engineering orders and an increase in cash paid for the purchase of raw
     materials and engineering construction.
     (15). Net cash flows arising from investing activities increased 155.56 million yuan on a year-on-year basis,
     mainly due to the transfer of 17.8% of the company's holding of Cold King Container Temperature Control
     (Suzhou) Co., LTD., and the reduction of 2% of Jing xue Energy-saving shares.
     (16).Net cash flows arising from financing activities increased 82.96million yuan on a year-on-year basis, mainly
     due to lower cash payments to service debt.
       2. Shareholders' information


                                                                                                                      2
        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
                                                    77,661
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
                                               legal person
Sanyo Electric Co., Ltd.                       Overseas legal person                 8.72%      73,503,150
Shen Dongrong                                  Domestic natural person               1.46%      12,288,400
Liu Zhaoshui                                   Domestic natural person               0.99%       8,374,200
Lin Zhenming                                   Foreign natural person                0.80%       6,730,000
Chen Xianlai                                   Domestic natural person               0.58%       4,926,200
Chen Yong                                      Domestic natural person               0.53%       4,494,500
Xue Hong                                       Domestic natural person               0.42%       3,580,000
Wu An                                          Domestic natural person               0.41%       3,415,200
Dalian industrial development investment       Domestic      non-state-owned
                                                                                     0.40%         3,406,725
Co., Ltd.                                      legal person
                                   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
Shen Dongrong                                                                     12,288,400   RMB denominated ordinary shares
Liu Zhaoshui                                                                       8,374,200   RMB denominated ordinary shares
Lin Zhenming                                                                       6,730,000   Domestically listed foreign shares
Chen Xianlai                                                                       4,926,200   RMB denominated ordinary shares
Chen Yong                                                                          4,494,500   RMB denominated ordinary shares
Xue Hong                                                                           3,580,000   Domestically listed foreign shares
Wu An                                                                              3,415,200   Domestically listed foreign shares
Dalian industrial development investment Co., Ltd.                                 3,406,725   RMB denominated ordinary shares

                                                                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.
                      above shareholders                        Sanyo Electric Co., Ltd. holds 26.6% of Dalian Bingshan Group
                                                                Co., Ltd.'s equity.

        At the end of the report period, the total number of shareholders of the Company was 77,661, including 70,316
        A-share shareholders and 7,345 B-share shareholders.

        2.2 Information on the total number of preferred shareholders and the shares held by top ten preferred
        shareholders as of the end of the reporting period
        □ Yes √ No

        §3 Other important Matters
        During the reporting period, the Company reduced its holdings of Jingxue Energy Saving by 2,160,000 shares
        through bulk trading, accounting for 2% of the total capital stock of Jingxue Energy Saving; A total of 1,080,000
        shares of Jingxue Energy Saving have been engaged in refinancing securities lending transactions, accounting for
        1% of the total capital stock of Jingxue Energy Saving.




                                                                                                                               3
§4 Financial Statements


                                     CONSOLIDATION BALANCE SHEET
Prepared by Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.   September 30, 2022         Unit: RMB Yuan
                                        Items                                             30-Sep-2022                    1-Jan-2022
Current assets:
Monetary funds                                                                                   433,278,755.30           522,658,505.79
Financial assets which are measured by fair value and which changes are
recorded in current profit and loss
Derivative financial assets
Transaction financial assets
Notes receivable                                                                                 237,312,309.92           166,430,365.74
Accounts receivable                                                                         1,122,280,028.43              821,548,678.85
Receivables financing                                                                            24,259,183.49             43,704,310.38
Accounts paid in advance                                                                         286,854,417.59           182,701,403.55
Other receivables                                                                                52,212,418.76             60,340,096.45
     Interest receivables
     Dividend receivable                                                                                                    1,003,568.75
Inventories                                                                                 1,035,944,382.77            1,014,527,127.82
Contract assets                                                                                  130,188,419.06           109,859,658.79
Assets held for sale
Non-current asset due within one year                                                            14,990,989.30             14,990,989.30
Other current assets                                                                             10,559,853.74             24,525,076.71
Total current assets                                                                        3,347,880,758.36            2,961,286,213.38
Non-current assets:
Finance asset held available for sales
Held-to-maturity investment
Long-term account receivable
Long-term equity investment                                                                 1,169,106,175.09            1,231,504,533.45
Other Non-current financial assets                                                               150,823,661.95           261,410,664.61
Investment property                                                                              116,305,340.46           120,752,809.61
Fixed assets                                                                                     822,099,451.09           855,395,405.85
Construction in progress                                                                         62,409,744.48             38,974,478.45
Right of use assets                                                                              15,274,461.64             23,934,703.37
Engineering material
Disposal of fixed asset
Productive biological asset
Oil and gas asset
Intangible assets                                                                                137,188,907.01           142,592,738.10
Expense on Research and Development
Goodwill                                                                                           1,750,799.49             1,750,799.49
Long-term expenses to be apportioned                                                               7,306,719.87             8,088,684.23
Deferred income tax asset                                                                        89,218,372.81             89,879,574.13
Other non-current asset
Total non-current asset                                                                     2,571,483,633.89            2,774,284,391.29
                                    Total assets                                            5,919,364,392.25            5,735,570,604.67



                                                                                                                                      4
Current liabilities:
Short-term loans                                                                 247,000,000.00     245,937,091.72
Financial liabilities which are measured by fair value and which changes are
recorded in current profit and loss
Derivative financial liabilities
Transaction financial liabilities
Notes payable                                                                    355,757,939.78     380,033,039.56
Accounts payable                                                               1,168,375,475.66     919,871,927.53
Accounts received in advance
Contract liabilities                                                             480,236,940.48     499,719,963.40
Wage payable                                                                     22,387,897.94      35,148,782.48
Taxes payable                                                                    38,485,990.05      13,514,847.82
Other accounts payable                                                           24,469,031.04      55,284,140.21
     Interest payable
     Dividend payable                                                              2,333,156.00       3,008,156.00
Liabilities held for sale
Non-current liabilities due within one year                                      17,363,993.35      24,175,388.12
Other current liabilities                                                        229,518,856.01     195,213,206.91
Total current liabilities                                                      2,583,596,124.31   2,368,898,387.75
Non-current liabilities:
Long-term loans                                                                  140,000,000.00     150,000,000.00
Bonds payable
    Preferred stock
    Perpetual bond
Lease liability                                                                      997,434.45       5,394,021.14
Long-term account payable                                                        20,768,932.49      19,998,913.29
Long-term wage payable
Special Payable
Anticipation liabilities
Deferred income                                                                  102,801,093.39     106,185,323.82
Deferred income tax liabilities                                                  20,734,470.21      35,596,349.70
Other non-current liabilities                                                    285,301,930.54     317,174,607.95
Total non-current liabilities                                                  2,868,898,054.85   2,686,072,995.70
                                   Total liabilities
Shareholders’ equity
Share capital                                                                    843,212,507.00     843,212,507.00
Other equity instruments
Preferred stock
Perpetual bond
Capital public reserve                                                           714,493,833.07     720,215,866.78
Less: Treasury stock
Other comprehensive income                                                         2,178,681.73       2,178,681.73
Special preparation
Surplus public reserve                                                           809,471,199.64     809,471,199.64
Generic risk reserve
Retained profit                                                                  627,360,681.06     627,764,582.32



                                                                                                                5
Total owner’s equity attributable to parent company                                      2,996,716,902.50              3,002,842,837.47
Minority interests                                                                            53,749,434.90                 46,654,771.50
Total owner’s equity                                                                     3,050,466,337.40              3,049,497,608.97
                     Total liabilities and shareholder’s equity                          5,919,364,392.25              5,735,570,604.67
Legal Representative: Ji Zhijian         Chief Financial Official: Wang Jinxiu   Person in Charge of Accounting Organization: Li Sheng




                                                                                                                                         6
                                CONSOLIDATION INCOME STATEMENT
Prepared by Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.          January - September, 2022             Unit: RMB Yuan
                              Items                                         January-September, 2022            January- September, 2021
  I. Total sales                                                                        2,044,117,549.31               1,751,913,803.14
  II. Total operating cost                                                              2,057,243,064.66               1,818,095,119.51
  Including: Operating cost                                                             1,779,802,998.39               1,537,686,115.03
               Taxes and associate charges                                                   15,646,694.55                 14,782,923.04
               Selling and distribution expenses                                             92,218,838.90                 91,119,255.32
               Administrative expenses                                                     108,550,680.84                 108,999,166.58
               R&D expenses                                                                  52,363,696.66                 54,388,434.55
               Financial expense                                                              8,660,155.32                 11,119,224.99
                     Including: interest expense                                             11,655,789.18                 14,919,014.00
                                 interest income                                              2,768,663.68                  5,032,852.90
  Add: Other income                                                                           3,357,636.01                  1,360,302.53
       Gain/(loss) from investment                                                           84,086,155.71                 19,064,313.18
            Including: income from investment on
                                                                                             -1,089,360.88                  9,479,575.98
  affiliated enterprise and jointly enterprise
       Gain/(loss) from change in fair value (loss as “-“)                               -46,118,233.76                   3,754,002.40
       Credit impairment loss (loss as “-“)                                              -14,115,428.91                  -5,784,568.00
       Assets impairment loss (loss as “-“)                                                  -755,169.48                 -8,258,805.29
       Gain/(loss) from asset disposal (loss as “-“)                                           117,689.42                     27,171.60
  III. Operating profit                                                                      13,447,133.64                -56,018,899.95
  Add: non-business income                                                                    3,648,490.08                  7,547,220.30
  Less: non-business expense                                                                     571,911.62                 1,004,350.24
  IV. Total profit                                                                           16,523,712.10                -49,476,029.89
  Less: Income tax                                                                            5,635,364.87                 -1,445,628.95
  V. Net profit                                                                              10,888,347.23                -48,030,400.94
  (I) Net profit from continuous operation                                                   10,888,347.23                -48,030,400.94
  (II)Net profit from discontinuing operation
  Net profit attributable to parent company                                                   8,028,223.81                -41,549,634.34
  Minority shareholders’ gains and losses                                                    2,860,123.42                 -6,480,766.60
  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. Gains and losses on fair value changes of
  available-for-sale financial assets
  3. Gains and losses on reclassifying held-to-maturity
  investments into available-for-sale financial assets
  4. Effective hedging gains and losses on cash flows



                                                                                                                                            7
5. Foreign-currency financial statement translation
difference
6、Others
……
After-tax net amount of other comprehensive incomes
attributable to minority shareholders
VII Total comprehensive income                                                             10,888,347.23                       -48,030,400.94
Total comprehensive income attributable to parent
company                                                                                     8,028,223.81                       -41,549,634.34
Total comprehensive income attributable to minority
shareholders                                                                                2,860,123.42                         -6,480,766.60

VIII. Earnings per share
(I) basic earnings per share                                                                            0.01                                -0.049
(II) diluted earnings per share                                                                         0.01                                -0.049
         Legal Representative: Ji Zhijian   Chief Financial Official: Wang Jinxiu   Person in Charge of Accounting Organization: Li Sheng




                                                                                                                                                     8
                             CONSOLIDATION CASH FLOW STATEMENT
 Prepared by Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.            January - September, 2022          Unit: RMB Yuan
                            Items                                            January-September, 2022              January - September, 2021
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing
labor services                                                                             1,829,040,062.90                 1,366,490,775.49

Write-back of tax received                                                                     19,518,381.48                   15,767,416.25
Other cash received concerning operating activities                                            54,399,279.15                   76,419,830.88
 Subtotal of cash inflow arising from operating activities                                 1,902,957,723.53                 1,458,678,022.62
Cash paid for purchasing commodities and receiving
labor service                                                                              1,744,352,580.69                   991,847,218.79

Cash paid to/for staff and workers                                                            268,660,102.51                  258,665,354.27
Taxes paid                                                                                     59,392,595.29                   61,236,522.09
Other cash paid concerning operating activities                                               125,454,018.63                  142,063,255.46
    Subtotal of cash outflow arising from operating
                       activities                                                          2,197,859,297.12                 1,453,812,350.61

     Net cash flows arising from operating activities                                       -294,901,573.59                      4,865,672.01
II. Cash flows arising from investing activities:
Cash received from recovering investment                                                      139,133,456.91                     1,703,262.34
Cash received from investment income                                                           92,354,809.76                   80,638,354.58
Net cash received from disposal of fixed, intangible and
other long-term assets                                                                             644,321.28                      718,371.68
Net cash received from disposal of subsidiaries and
other units                                                                                      5,605,792.62                  36,263,700.00

Other cash received concerning investing activities
    Subtotal of cash inflow from investing activities                                         237,738,380.57                  119,323,688.60
Cash paid for purchasing fixed, intangible and other
long-term assets                                                                               17,235,374.55                     8,985,428.62

Cash paid for investment                                                                                                       45,400,000.00
Net cash paid for achievement of subsidiaries and other
business units
Other cash paid concerning investing activities
   Subtotal of cash outflow from investing activities                                          17,235,374.55                   54,385,428.62
     Net cash flows arising from investing activities                                         220,503,006.02                   64,938,259.98
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                                                                      247,850,000.00                  258,870,000.00
Cash received from issuing bonds
Other cash received concerning financing activities                                            96,398,036.29                   60,343,934.67
    Subtotal of cash inflow from financing activities                                         344,248,036.29                  319,213,934.67
Cash paid for settling debts                                                                  237,000,000.00                  337,563,543.19
Cash paid for dividend and profit distributing or interest
paying                                                                                         25,307,407.67                   24,159,906.92
Including: dividends or profit paid by subsidiaries to
minority shareholders
Other cash paid concerning financing activities                                                76,335,398.74                   34,847,480.91
   Subtotal of cash outflow from financing activities                                         338,642,806.41                  396,570,931.02
     Net cash flows arising from financing activities                                            5,605,229.88                 -77,356,996.35
IV. Influence on cash due to fluctuation in exchange rate                                        2,465,826.18                      188,430.42



                                                                                                                                              9
V. Net increase of cash and cash equivalents                                                   -66,327,511.51                              -7,364,633.94
Add: Balance of cash and cash equivalents at the period
-begin                                                                                         438,969,337.87                          314,978,460.49
VI. Balance of cash and cash equivalents at the
period–end                                                                                    372,641,826.36                          307,613,826.55

        Legal Representative: Ji Zhijian   Chief Financial Official: Wang Jinxiu   Person in Charge of Accounting Organization: Li Sheng




                                       Board of Directors of Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.
                                                                       October 28, 2022




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