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公司公告

冰山B:2023年第三季度报告(英文)2023-10-27  

                                          Stock Code: 000530; 200530 Short Form of the Stock: Bingshan; Bingshan B                      No:2023-027


                     Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.
                        QUARTERLY REPORT FOR THIRD QUARTER, 2023

          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
                             2023.7-9               2022.7-9                               2023.1-9            2022.1-9
                                                                      over 2022.7-9                                                over 2022.1-9
Total operating
                          1,274,571,520.64 752,258,640.60                       69.43% 3,602,108,233.69 2,044,117,549.31                      76.22%
income
Net profit attributable
                            14,469,128.62 -21,540,127.71                     167.17%      71,883,527.84         8,028,223.81                 795.39%
to parent company
Net profit attributable
to parent company
                             1,479,838.85 -23,177,485.56                     106.38%      46,938,009.37       -12,472,367.21                 476.34%
after deducting non-
recurring gains/losses
Net cash generated
from operating                  —                    —                   —           -166,271,484.31      -294,901,573.59                  43.62%
activities
Basic earnings per
                                        0.02               -0.03             166.67%                  0.09                0.01               800.00%
share
Diluted earnings per
                                        0.02               -0.03             166.67%                  0.09                0.01               800.00%
share
Weighted average
                                                                        Increase1.19                                                  Increase 2.07
return on net asset                  0.47%                 -0.72%
                                                                    percentage points
                                                                                                  2.34%                0.27%
                                                                                                                                  percentage points
yield
                                        2023.9.30                                 2022.12.31                  Increase/decrease over 2022.12.31
Total assets                                8,248,498,357.51                  7,601,935,329.60                                               8.51%
Shareholder’s equity
attributable to parent                      3,069,642,234.61                  3,006,190,831.84                                                2.11%
company
         In the first three quarters of 2023, he Company's net profit increased significantly year-on-year, mainly due to the
         Company's focus on hot and cold business, deep cultivation of market segments, solid improvement of core
         competitiveness, increased revenue and profit from increased orders, and the Company completed major asset
         restructuring in November 2022, resulting in more profit contributions from new subsidiaries.




                                                                                                                                         1
                                                                              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                                 681,888.50                       188,194.83
Government subsidies which were included in the current profits and
                                                                                  1,690,071.81                     5,953,349.59
losses
Gains and losses on debt restructuring                                              144,767.32                     1,120,121.82
Profit or loss arising from contingencies unrelated to the normal
                                                                                                                   3,290,560.80
operation of the company
When the investment cost of a subsidiary, associate or joint venture is
less than that of the investment, an enterprise shall enjoy the income
                                                                                  6,000,504.40                   10,364,507.60
generated by the fair value of the identifiable net assets of the invested
entity
Allowance for impairment reversal of receivables tested separately for
                                                                                                                   1,037,705.78
impairment
Other non-operating incomes and expenses except the above mentioned              6,606,547.35                     7,253,231.17
Income tax effects                                                               2,139,176.82                     4,160,080.75
Minority equity interests effects (after tax)                                       -4,687.21                       102,072.37
Total                                                                           12,989,289.77                    24,945,518.47

     1.3 Major changes in main financial items and indexes, and description of the cause
     √ Applicable □ Inapplicable
     (1). Receivables financing increased 345.04% compared with the beginning of the year, mainly due to the high
     credit bank has not expired acceptance, Sonyo compressor and Sonyo refrigeration included in the scope of the
     merger.
     (2). Other receivables decreased 40.98% compared with the beginning of the year, mainly due to recover bid security
     and imprest
     (3). Contract assets increased 35.58% compared with the beginning of the year, mainly due the increase and
     consolidation of Sonyo refrigeration, as well as the increase in operating income, the increase in outstanding quality
     guarantees and the increase in revenue to be settled according to the time period method.
     (4). Other current assets increased 106.86% compared with the beginning of the year, mainly due to the increase in
     the pre-paid VAT of Sonyo refrigeration and the increase in the input tax to be deducted from the VAT of the
     combined unit.
     (5). Notes payable increased 34.62% compared with the beginning of the year, mainly due to affected by Sonyo
     Compressor and Sonyo refrigeration.
     (6). Non-current liabilities due within one year increased 62.16% compared with the beginning of the year, mainly
     due to an increase in long-term borrowing due within a year.
     (7). Other current liabilities increased 66.66% compared with the beginning of the year, mainly due to the increase
     in endorsed bills and sales orders, pending the impact of the resale tax increase.
     (8). Lease liability increased 54.86% compared with the beginning of the year, mainly due to Sonyo Compressor
     and Sonyo refrigeration and other subsidiaries merged into the impact, as well as the impact of financial leasing.
     (9). Long-term account payable decreased 45.28% compared with the beginning of the year, mainly due to the
     reduced impact of factoring commitments.
     (10). Anticipation liabilities decreased 65.32% compared with the beginning of the year, mainly due to Sonyo
     compressor a project of first instance judgment loss reduction.
     (11). Operating income increased 76.22% on a year-on-year basis, mainly due to the increase in orders, and the
     increase in Sonyo compressor, Sonyo refrigeration system, and Sonyo refrigeration included in the consolidation
     scope.
     (12). Selling and distribution expenses increased 82.87% on a year-on-year basis, mainly due to an increase in sales
     orders, a decrease in business t rips during the same period, and an increase in Sonyo Compressor, Sonyo
     refrigeration system, and Sonyo refrigeration.
     (13). Administrative expenses increased 58.77% on a year-on-year basis, mainly due to an increase in Sonyo
     Compressors, Sonyo refrigeration system, and Sonyo refrigeration.
     (14). R&D expenses increased 119.80% on a year-on-year basis, Mainly due to the increase in research and
     development investment and Sonyo compressor, Sonyo refrigeration system, and Sonyo refrigeration into the scope
     of the merger increased.
     (15). Financial expense increased 199.49% on a year-on-year basis, Mainly due to Sonyo compressor, Sonyo
     refrigeration system, and Sonyo refrigeration included in the scope of the merger increased and merger loan interest
     increased.


                                                                                                                         2
        (16). Gain from change in fair value increased significantly on a year-on-year basis, mainly due to positive changes
        in Guotai Junan stock price.
        (17). Credit impairment loss increased203.16% on a year-on-year basis, mainly because Sonyo compressor, Sonyo
        refrigeration system, and Sonyo refrigeration into the scope of consolidation.
        (18). Non-business income increased significantly on a year-on-year basis, mainly due to the influence of Sonyo
        compressor.
        (19). Net cash flows arising from operating activities increased 128.63 million yuan on a year-on-year basis, mainly
        due to the increase in sales orders and the improvement in payment collection.
        (20). Net cash flows arising from investing activities decreased 269.97 million yuan on a year-on-year basis, mainly
        due to the investment income received in the same period last year more cash and the current period Sonyo
        compressor transferred to the subsidiary fixed assets investment impact.
        (21).Net cash flows arising from financing activities increased 19.56 million yuan on a year-on-year basis, mainly
        due to an increase in M&A loans..
         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
                                                      50,299                                                                            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
                                               legal person
Sanyo Electric Co., Ltd.                       Overseas legal person                 8.72%       73,503,150
China Merchants Bank Co., Ltd.-Dongfang
HongRuize three years regular open flexible
                                            Others                                   1.90%       15,980,700
allocation of hybrid securities investment
funds
Zhang Sufen                                 Domestic natural person                  1.30%       10,990,000
We Assets - Minsheng Bank - We Assets -
Shengshi Select No. 2 Collection Asset      Others                                   1.12%        9,431,200
Management Product (Phase 2)
Chen Xianlai                                Domestic natural person                  0.85%        7,180,000
Lin Zhenming                                Foreign natural person                   0.80%        6,730,000
China Merchants Bank Co., LTD-Dongfang
HongRui Man Shanghai, Hong Kong and
                                            Others                                   0.71%        5,968,250
Shenzhen Flexible Allocation Hybrid
Securities Investment Fund (LOF)
Xue Hong                                    Domestic natural person                  0.43%        3,620,000
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
China Merchants Bank Co., Ltd.-Dongfang HongRuize three
years regular open flexible allocation of hybrid securities                        15,980,700    RMB denominated ordinary shares
investment funds
Zhang Sufen                                                                        10,990,000    RMB denominated ordinary shares
We Assets - Minsheng Bank - We Assets - Shengshi Select No.
                                                                                    9,431,200    RMB denominated ordinary shares
2 Collection Asset Management Product (Phase 2)
Chen Xianlai                                                                        7,180,000    RMB denominated ordinary shares


                                                                                                                              3
Lin Zhenming                                                                      6,730,000   Domestically listed foreign shares
China Merchants Bank Co., LTD-Dongfang HongRui Man
Shanghai, Hong Kong and Shenzhen Flexible Allocation Hybrid                       5,968,250   RMB denominated ordinary shares
Securities Investment Fund (LOF)
Xue Hong                                                                          3,620,000   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. Sanyo
                      above shareholders                        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 50,299, including 43,121 A-
       share shareholders and 7,178 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
       □ Yes √ No




                                                                                                                        4
§4 Financial Statements

                                     CONSOLIDATION BALANCE SHEET
Prepared by Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.   September 30, 2023         Unit: RMB Yuan
                                        Items                                             30-Sep-2023                    1-Jan-2023
Current assets:
Monetary funds                                                                                   810,073,486.50         1,006,165,899.18
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                                                                                 534,917,754.03           505,945,261.18
Accounts receivable                                                                         1,547,419,861.13            1,409,978,442.95
Receivables financing                                                                            261,653,329.35            58,792,792.70
Accounts paid in advance                                                                         196,296,251.82           171,991,468.12
Other receivables                                                                                30,330,908.72             51,394,474.24
     Interest receivables
     Dividend receivable                                                                                                       14,495.00
Inventories                                                                                 1,614,785,351.28            1,395,344,780.24
Contract assets                                                                                  306,123,195.32           225,790,875.78
Assets held for sale
Non-current asset due within one year                                                            12,571,309.30             15,715,631.52
Other current assets                                                                             69,298,415.43             33,499,577.60
Total current assets                                                                        5,383,469,862.88            4,874,619,203.51
Non-current assets:
Finance asset held available for sales
Held-to-maturity investment
Long-term account receivable                                                                       5,162,458.90             5,162,458.90
Long-term equity investment                                                                      557,185,801.07           562,987,771.94
Other Non-current financial assets                                                               160,315,368.91           149,950,861.31
Investment property                                                                              112,914,295.13           115,332,918.20
Fixed assets                                                                                1,298,540,800.22            1,229,029,368.93
Construction in progress                                                                         123,215,966.04           115,577,902.54
Right of use assets                                                                              15,298,911.87             30,941,662.26
Engineering material
Disposal of fixed asset
Productive biological asset
Oil and gas asset
Intangible assets                                                                                213,374,561.69           168,076,720.07
Expense on Research and Development
Goodwill                                                                                         270,800,976.03           248,345,508.41
Long-term expenses to be apportioned                                                               5,819,165.04             6,486,566.92
Deferred income tax asset                                                                        102,400,189.73            95,424,386.61
Other non-current asset
Total non-current asset                                                                     2,865,028,494.63            2,727,316,126.09
                                    Total assets                                            8,248,498,357.51            7,601,935,329.60
Current liabilities:



                                                                                                                                      5
Short-term loans                                                                 288,908,174.90     274,052,990.15
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                                                                    833,206,601.11     618,944,384.85
Accounts payable                                                               1,727,626,102.95   1,586,098,060.59
Accounts received in advance
Contract liabilities                                                             714,023,045.39     647,645,820.57
Wage payable                                                                     127,928,244.84     118,216,683.23
Taxes payable                                                                    20,927,650.75      33,691,523.62
Other accounts payable                                                           51,443,359.88      67,054,250.25
     Interest payable
     Dividend payable                                                                533,156.00         533,156.00
Liabilities held for sale
Non-current liabilities due within one year                                      102,329,555.20     63,105,954.56
Other current liabilities                                                        310,545,621.84     204,650,003.24
Total current liabilities                                                      4,176,938,356.86   3,613,459,671.06
Non-current liabilities:
Long-term loans                                                                  739,400,000.00     715,100,000.00
Bonds payable
    Preferred stock
    Perpetual bond
Lease liability                                                                  17,392,057.69      11,230,532.05
Long-term account payable                                                        16,968,459.97      31,009,644.16
Long-term wage payable
Special Payable
Anticipation liabilities                                                           6,521,234.94     18,805,967.43
Deferred income                                                                  98,155,169.74      99,754,346.39
Deferred income tax liabilities                                                  65,501,170.25      52,306,365.68
Other non-current liabilities
Total non-current liabilities                                                    943,938,092.59     928,206,855.71
                                   Total liabilities                           5,120,876,449.45   4,541,666,526.77
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
Surplus public reserve                                                           825,226,634.15     825,226,634.15
Generic risk reserve
Retained profit                                                                  681,897,325.35     618,445,922.58
Total owner’s equity attributable to parent company                           3,069,642,234.61   3,006,190,831.84



                                                                                                                6
Minority interests                                                                                  57,979,673.45                  54,077,970.99
Total owner’s equity                                                                           3,127,621,908.06             3,060,268,802.83
                     Total liabilities and shareholder’s equity                                8,248,498,357.51             7,601,935,329.60
Legal Representative: Ji Zhijian   Chief Financial Official: Wang Jinxiu   Person in Charge of Accounting Organization: Li Sheng




                                                                                                                                              7
                                CONSOLIDATION INCOME STATEMENT
Prepared by Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.       January - September, 2023     Unit: RMB Yuan
                              Items                                         January-September, 2023           January- September, 2022
  I. Total sales                                                                         3,602,108,233.69              2,044,117,549.31
  II. Total operating cost                                                               3,500,188,858.95              2,057,243,064.66
  Including: Operating cost                                                              2,992,350,493.45              1,779,802,998.39
               Taxes and associate charges                                                   25,820,709.54                 15,646,694.55
               Selling and distribution expenses                                            168,639,007.67                 92,218,838.90
               Administrative expenses                                                      172,345,836.79                108,550,680.84
               R&D expenses                                                                 115,096,900.39                 52,363,696.66
               Financial expense                                                             25,935,911.11                     8,660,155.32
                     Including: interest expense                                             29,152,253.80                 11,655,789.18
                                 interest income                                               8,078,792.66                    2,768,663.68
  Add: Other income                                                                            2,206,719.66                    3,357,636.01
       Gain/(loss) from investment                                                             3,666,199.84                84,086,155.71
            Including: income from investment on
                                                                                             -3,158,300.72                 -1,089,360.88
  affiliated enterprise and jointly enterprise
       Gain/(loss) from change in fair value (loss as “-“)                                 10,364,507.60                -46,118,233.76
       Credit impairment loss (loss as “-“)                                               -42,792,710.31                -14,115,428.91
       Assets impairment loss (loss as “-“)                                                  2,110,878.83                    -755,169.48
       Gain/(loss) from asset disposal (loss as “-“)                                         1,002,383.35                     117,689.42
  III. Operating profit                                                                      78,477,353.71                 13,447,133.64
  Add: non-business income                                                                   13,080,515.09                     3,648,490.08
  Less: non-business expense                                                                   3,204,263.53                     571,911.62
  IV. Total profit                                                                           88,353,605.27                 16,523,712.10
  Less: Income tax                                                                           12,568,374.96                     5,635,364.87
  V. Net profit                                                                              75,785,230.31                 10,888,347.23
  (I) Net profit from continuous operation                                                   75,785,230.31                 10,888,347.23
  (II)Net profit from discontinuing operation
  Net profit attributable to parent company                                                  71,883,527.84                     8,028,223.81
  Minority shareholders’ gains and losses                                                     3,901,702.47                    2,860,123.42
  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



                                                                                                                                              8
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                                                             75,785,230.31                         10,888,347.23
Total comprehensive income attributable to parent
company                                                                                    71,883,527.84                          8,028,223.81
Total comprehensive income attributable to minority
shareholders                                                                                3,901,702.47                          2,860,123.42

VIII. Earnings per share
(I) basic earnings per share                                                                            0.09                                0.01
(II) diluted earnings per share                                                                         0.09                                0.01
         Legal Representative: Ji Zhijian   Chief Financial Official: Wang Jinxiu   Person in Charge of Accounting Organization: Li Sheng




                                                                                                                                                   9
                             CONSOLIDATION CASH FLOW STATEMENT
 Prepared by Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.          January - September, 2023   Unit: RMB Yuan
                            Items                                            January-September, 2023                January - September, 2022
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing
labor services                                                                             3,229,896,254.25                      1,829,040,062.90

Write-back of tax received                                                                     21,889,014.28                       19,518,381.48
Other cash received concerning operating activities                                            78,453,591.90                       54,399,279.15
 Subtotal of cash inflow arising from operating activities                                 3,330,238,860.43                      1,902,957,723.53
Cash paid for purchasing commodities and receiving
labor service                                                                              2,602,049,135.49                      1,744,352,580.69

Cash paid to/for staff and workers                                                            537,303,228.95                       268,660,102.51
Taxes paid                                                                                    153,454,073.42                       59,392,595.29
Other cash paid concerning operating activities                                               203,703,906.88                       125,454,018.63
    Subtotal of cash outflow arising from operating
                       activities                                                          3,496,510,344.74                      2,197,859,297.12

     Net cash flows arising from operating activities                                        -166,271,484.31                     -294,901,573.59
II. Cash flows arising from investing activities:
Cash received from recovering investment                                                                                           139,133,456.91
Cash received from investment income                                                           10,144,138.79                       92,354,809.76
Net cash received from disposal of fixed, intangible and
other long-term assets                                                                           1,493,813.50                          644,321.28
Net cash received from disposal of subsidiaries and
other units                                                                                                                          5,605,792.62

Other cash received concerning investing activities
    Subtotal of cash inflow from investing activities                                          11,637,952.29                       237,738,380.57
Cash paid for purchasing fixed, intangible and other
long-term assets                                                                               49,050,141.37                       17,235,374.55

Cash paid for investment
Net cash paid for achievement of subsidiaries and other
business units                                                                                 12,056,951.02

Other cash paid concerning investing activities
   Subtotal of cash outflow from investing activities                                          61,107,092.39                       17,235,374.55
     Net cash flows arising from investing activities                                         -49,469,140.10                       220,503,006.02
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                                                                      355,908,174.90                       247,850,000.00
Cash received from issuing bonds
Other cash received concerning financing activities                                              6,600,000.00                      96,398,036.29
    Subtotal of cash inflow from financing activities                                         362,508,174.90                       344,248,036.29
Cash paid for settling debts                                                                  266,276,141.98                       237,000,000.00
Cash paid for dividend and profit distributing or interest
paying                                                                                         32,167,304.24                       25,307,407.67
Including: dividends or profit paid by subsidiaries to
minority shareholders
Other cash paid concerning financing activities                                                38,899,306.16                       76,335,398.74
   Subtotal of cash outflow from financing activities                                         337,342,752.38                       338,642,806.41
     Net cash flows arising from financing activities                                          25,165,422.52                         5,605,229.88
IV. Influence on cash due to fluctuation in exchange rate                                         -900,644.83                        2,465,826.18



                                                                                                                                             10
V. Net increase of cash and cash equivalents                                                   -191,475,846.72                      -66,327,511.51
Add: Balance of cash and cash equivalents at the period
-begin                                                                                          921,663,803.17                      438,969,337.87
VI. Balance of cash and cash equivalents at the period–
end                                                                                             730,187,956.45                      372,641,826.36

 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 27, 2023




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