冰山B:2023年第三季度报告(英文)

http://ddx.gubit.cn  2023-10-27  冰山冷热(000530)公司公告

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 inthis 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 inthis report, and shall take all responsibilities, individual and/or joint, for the reality, accuracy and completenessof the whole contents.

2. Chairman of the Board of Directors of the Company Mr. Ji Zhijian, Financial Majordomo Mrs. Wang Jinxiuand the head of Accounting Department Mr. Li Sheng hereby confirm that the financial report of the quarterlyreport 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

2023.7-92022.7-9Increase/decrease over 2022.7-92023.1-92022.1-9Increase/decrease over 2022.1-9
Total operating income1,274,571,520.64752,258,640.6069.43%3,602,108,233.692,044,117,549.3176.22%
Net profit attributable to parent company14,469,128.62-21,540,127.71167.17%71,883,527.848,028,223.81795.39%
Net profit attributable to parent company after deducting non-recurring gains/losses1,479,838.85-23,177,485.56106.38%46,938,009.37-12,472,367.21476.34%
Net cash generated from operating activities-166,271,484.31-294,901,573.5943.62%
Basic earnings per share0.02-0.03166.67%0.090.01800.00%
Diluted earnings per share0.02-0.03166.67%0.090.01800.00%
Weighted average return on net asset yield0.47%-0.72%Increase1.19 percentage points2.34%0.27%Increase 2.07 percentage points
2023.9.302022.12.31Increase/decrease over 2022.12.31
Total assets8,248,498,357.517,601,935,329.608.51%
Shareholder’s equity attributable to parent company3,069,642,234.613,006,190,831.842.11%

In the first three quarters of 2023, he Company's net profit increased significantly year-on-year, mainly due to theCompany's focus on hot and cold business, deep cultivation of market segments, solid improvement of corecompetitiveness, increased revenue and profit from increased orders, and the Company completed major assetrestructuring in November 2022, resulting in more profit contributions from new subsidiaries.

Item of non-recurring gains and lossesAmount of this report periodAmount from beginning of year to the end of report period
Profit and loss from disposal of non-current assets681,888.50188,194.83
Government subsidies which were included in the current profits and losses1,690,071.815,953,349.59
Gains and losses on debt restructuring144,767.321,120,121.82
Profit or loss arising from contingencies unrelated to the normal operation of the company3,290,560.80
When the investment cost of a subsidiary, associate or joint venture is less than that of the investment, an enterprise shall enjoy the income generated by the fair value of the identifiable net assets of the invested entity6,000,504.4010,364,507.60
Allowance for impairment reversal of receivables tested separately for impairment1,037,705.78
Other non-operating incomes and expenses except the above mentioned6,606,547.357,253,231.17
Income tax effects2,139,176.824,160,080.75
Minority equity interests effects (after tax)-4,687.21102,072.37
Total12,989,289.7724,945,518.47

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 highcredit bank has not expired acceptance, Sonyo compressor and Sonyo refrigeration included in the scope of themerger.

(2). Other receivables decreased 40.98% compared with the beginning of the year, mainly due to recover bid securityand imprest

(3). Contract assets increased 35.58% compared with the beginning of the year, mainly due the increase andconsolidation of Sonyo refrigeration, as well as the increase in operating income, the increase in outstanding qualityguarantees 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 inthe pre-paid VAT of Sonyo refrigeration and the increase in the input tax to be deducted from the VAT of thecombined unit.

(5). Notes payable increased 34.62% compared with the beginning of the year, mainly due to affected by SonyoCompressor and Sonyo refrigeration.

(6). Non-current liabilities due within one year increased 62.16% compared with the beginning of the year, mainlydue 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 increasein 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 Compressorand 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 thereduced impact of factoring commitments.

(10). Anticipation liabilities decreased 65.32% compared with the beginning of the year, mainly due to Sonyocompressor 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 theincrease in Sonyo compressor, Sonyo refrigeration system, and Sonyo refrigeration included in the consolidationscope.

(12). Selling and distribution expenses increased 82.87% on a year-on-year basis, mainly due to an increase in salesorders, a decrease in business t rips during the same period, and an increase in Sonyo Compressor, Sonyorefrigeration system, and Sonyo refrigeration.

(13). Administrative expenses increased 58.77% on a year-on-year basis, mainly due to an increase in SonyoCompressors, 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 anddevelopment investment and Sonyo compressor, Sonyo refrigeration system, and Sonyo refrigeration into the scopeof the merger increased.

(15). Financial expense increased 199.49% on a year-on-year basis, Mainly due to Sonyo compressor, Sonyorefrigeration system, and Sonyo refrigeration included in the scope of the merger increased and merger loan interestincreased.

(16). Gain from change in fair value increased significantly on a year-on-year basis, mainly due to positive changesin Guotai Junan stock price.

(17). Credit impairment loss increased203.16% on a year-on-year basis, mainly because Sonyo compressor, Sonyorefrigeration 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 Sonyocompressor.

(19). Net cash flows arising from operating activities increased 128.63 million yuan on a year-on-year basis, mainlydue 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, mainlydue to the investment income received in the same period last year more cash and the current period Sonyocompressor 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, mainlydue 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 period50,299Total number of shareholders as of the last month before disclosure of the annual report0
Shareholding of top ten shareholders
NameNatureProportionTotal numberNumber of shares with sale restrictionNumber of pledged shares or shares frozen
Dalian Bingshan Group Co., Ltd.Domestic non-state-owned legal person20.27%170,916,934
Sanyo Electric Co., Ltd.Overseas legal person8.72%73,503,150
China Merchants Bank Co., Ltd.-Dongfang HongRuize three years regular open flexible allocation of hybrid securities investment fundsOthers1.90%15,980,700
Zhang SufenDomestic natural person1.30%10,990,000
We Assets - Minsheng Bank - We Assets - Shengshi Select No. 2 Collection Asset Management Product (Phase 2)Others1.12%9,431,200
Chen XianlaiDomestic natural person0.85%7,180,000
Lin ZhenmingForeign natural person0.80%6,730,000
China Merchants Bank Co., LTD-Dongfang HongRui Man Shanghai, Hong Kong and Shenzhen Flexible Allocation Hybrid Securities Investment Fund (LOF)Others0.71%5,968,250
Xue HongDomestic natural person0.43%3,620,000
Dalian industrial development investment Co., Ltd.Domestic non-state-owned legal person0.40%3,406,725
Shareholding of top ten shareholders without sale restriction
NameNumber of shares without sale restrictionType of shares
Dalian Bingshan Group Co., Ltd.170,916,934RMB denominated ordinary shares
Sanyo Electric Co., Ltd.73,503,150Domestically listed foreign shares
China Merchants Bank Co., Ltd.-Dongfang HongRuize three years regular open flexible allocation of hybrid securities investment funds15,980,700RMB denominated ordinary shares
Zhang Sufen10,990,000RMB denominated ordinary shares
We Assets - Minsheng Bank - We Assets - Shengshi Select No. 2 Collection Asset Management Product (Phase 2)9,431,200RMB denominated ordinary shares
Chen Xianlai7,180,000RMB denominated ordinary shares
Lin Zhenming6,730,000Domestically listed foreign shares
China Merchants Bank Co., LTD-Dongfang HongRui Man Shanghai, Hong Kong and Shenzhen Flexible Allocation Hybrid Securities Investment Fund (LOF)5,968,250RMB denominated ordinary shares
Xue Hong3,620,000Domestically listed foreign shares
Dalian industrial development investment Co., Ltd.3,406,725RMB denominated ordinary shares
Notes to the associated relationship and uniform actions of the above shareholdersDalian Bingshan Group Co., Ltd. had the association relationship with Sanyo Electric Co., Ltd. among the 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 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 preferredshareholders as of the end of the reporting period

□ Yes √ No

§3 Other important Matters

□ Yes √ No

§4 Financial Statements

CONSOLIDATION BALANCE SHEET

Prepared by Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. September 30, 2023 Unit: RMB Yuan

Items30-Sep-20231-Jan-2023
Current assets:

Monetary funds

Monetary funds810,073,486.501,006,165,899.18

Financial assets which are measured by fair value and which changes arerecorded in current profit and loss

Financial assets which are measured by fair value and which changes are recorded in current profit and loss
Derivative financial assets

Transaction financial assets

Transaction financial assets

Notes receivable

Notes receivable534,917,754.03505,945,261.18
Accounts receivable1,547,419,861.131,409,978,442.95

Receivables financing

Receivables financing261,653,329.3558,792,792.70
Accounts paid in advance196,296,251.82171,991,468.12

Other receivables

Other receivables30,330,908.7251,394,474.24

Interest receivables

Interest receivables
Dividend receivable14,495.00

Inventories

Inventories1,614,785,351.281,395,344,780.24
Contract assets306,123,195.32225,790,875.78

Assets held for sale

Assets held for sale

Non-current asset due within one year

Non-current asset due within one year12,571,309.3015,715,631.52
Other current assets69,298,415.4333,499,577.60

Total current assets

Total current assets5,383,469,862.884,874,619,203.51
Non-current assets:

Finance asset held available for sales

Finance asset held available for sales

Held-to-maturity investment

Held-to-maturity investment
Long-term account receivable5,162,458.905,162,458.90

Long-term equity investment

Long-term equity investment557,185,801.07562,987,771.94
Other Non-current financial assets160,315,368.91149,950,861.31

Investment property

Investment property112,914,295.13115,332,918.20

Fixed assets

Fixed assets1,298,540,800.221,229,029,368.93
Construction in progress123,215,966.04115,577,902.54

Right of use assets

Right of use assets15,298,911.8730,941,662.26
Engineering material

Disposal of fixed asset

Disposal of fixed asset

Productive biological asset

Productive biological asset
Oil and gas asset

Intangible assets

Intangible assets213,374,561.69168,076,720.07
Expense on Research and Development

Goodwill

Goodwill270,800,976.03248,345,508.41

Long-term expenses to be apportioned

Long-term expenses to be apportioned5,819,165.046,486,566.92
Deferred income tax asset102,400,189.7395,424,386.61

Other non-current asset

Other non-current asset
Total non-current asset2,865,028,494.632,727,316,126.09

Total assets

Total assets8,248,498,357.517,601,935,329.60

Current liabilities:

Current liabilities:
Short-term loans288,908,174.90274,052,990.15

Financial liabilities which are measured by fair value and which changes arerecorded in current profit and loss

Financial liabilities which are measured by fair value and which changes are recorded in current profit and loss
Derivative financial liabilities

Transaction financial liabilities

Transaction financial liabilities
Notes payable833,206,601.11618,944,384.85

Accounts payable

Accounts payable1,727,626,102.951,586,098,060.59

Accounts received in advance

Accounts received in advance
Contract liabilities714,023,045.39647,645,820.57

Wage payable

Wage payable127,928,244.84118,216,683.23
Taxes payable20,927,650.7533,691,523.62

Other accounts payable

Other accounts payable51,443,359.8867,054,250.25

Interest payable

Interest payable
Dividend payable533,156.00533,156.00

Liabilities held for sale

Liabilities held for sale

Non-current liabilities due within one year

Non-current liabilities due within one year102,329,555.2063,105,954.56
Other current liabilities310,545,621.84204,650,003.24

Total current liabilities

Total current liabilities4,176,938,356.863,613,459,671.06
Non-current liabilities:

Long-term loans

Long-term loans739,400,000.00715,100,000.00

Bonds payable

Bonds payable
Preferred stock

Perpetual bond

Perpetual bond
Lease liability17,392,057.6911,230,532.05

Long-term account payable

Long-term account payable16,968,459.9731,009,644.16

Long-term wage payable

Long-term wage payable
Special Payable

Anticipation liabilities

Anticipation liabilities6,521,234.9418,805,967.43
Deferred income98,155,169.7499,754,346.39

Deferred income tax liabilities

Deferred income tax liabilities65,501,170.2552,306,365.68

Other non-current liabilities

Other non-current liabilities
Total non-current liabilities943,938,092.59928,206,855.71

Total liabilities

Total liabilities5,120,876,449.454,541,666,526.77
Shareholders’ equity

Share capital

Share capital843,212,507.00843,212,507.00

Other equity instruments

Other equity instruments
Preferred stock

Perpetual bond

Perpetual bond
Capital public reserve717,097,098.38717,097,098.38

Less: Treasury stock

Less: Treasury stock

Other comprehensive income

Other comprehensive income2,208,669.732,208,669.73
Special preparation

Surplus public reserve

Surplus public reserve825,226,634.15825,226,634.15
Generic risk reserve

Retained profit

Retained profit681,897,325.35618,445,922.58

Total owner’s equity attributable to parent company

Total owner’s equity attributable to parent company3,069,642,234.613,006,190,831.84
Minority interests57,979,673.4554,077,970.99

Total owner’s equity

Total owner’s equity3,127,621,908.063,060,268,802.83
Total liabilities and shareholder’s equity8,248,498,357.517,601,935,329.60

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

CONSOLIDATION INCOME STATEMENT

Prepared by Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. January - September, 2023 Unit: RMB Yuan

ItemsJanuary-September, 2023January- September, 2022
I. Total sales3,602,108,233.692,044,117,549.31

II. Total operating cost

II. Total operating cost3,500,188,858.952,057,243,064.66

Including: Operating cost

Including: Operating cost2,992,350,493.451,779,802,998.39
Taxes and associate charges25,820,709.5415,646,694.55

Selling and distribution expenses

Selling and distribution expenses168,639,007.6792,218,838.90
Administrative expenses172,345,836.79108,550,680.84

R&D expenses

R&D expenses115,096,900.3952,363,696.66

Financial expense

Financial expense25,935,911.118,660,155.32
Including: interest expense29,152,253.8011,655,789.18

interest income

interest income8,078,792.662,768,663.68
Add: Other income2,206,719.663,357,636.01

Gain/(loss) from investment

Gain/(loss) from investment3,666,199.8484,086,155.71

Including: income from investment onaffiliated enterprise and jointly enterprise

Including: income from investment on affiliated enterprise and jointly enterprise-3,158,300.72-1,089,360.88
Gain/(loss) from change in fair value (loss as “-“)10,364,507.60-46,118,233.76

Credit impairment loss (loss as “-“)

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 “-“)

Gain/(loss) from asset disposal (loss as “-“)1,002,383.35117,689.42

III. Operating profit

III. Operating profit78,477,353.7113,447,133.64
Add: non-business income13,080,515.093,648,490.08

Less: non-business expense

Less: non-business expense3,204,263.53571,911.62
IV. Total profit88,353,605.2716,523,712.10

Less: Income tax

Less: Income tax12,568,374.965,635,364.87

V. Net profit

V. Net profit75,785,230.3110,888,347.23
(I) Net profit from continuous operation75,785,230.3110,888,347.23

(II)Net profit from discontinuing operation

(II)Net profit from discontinuing operation
Net profit attributable to parent company71,883,527.848,028,223.81

Minority shareholders’gains and losses

Minority shareholders’ gains and losses3,901,702.472,860,123.42

VI. After-tax net amount of other comprehensiveincomes

VI. After-tax net amount of other comprehensive incomes

After-tax net amount of other comprehensive incomesattributable to owners of the Company

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

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 bereclassified into gains and losses

(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

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

4. Effective hedging gains and losses on cash flows
5. Foreign-currency financial statement translation difference

、Others

6、Others
……

After-tax net amount of other comprehensive incomesattributable to minority shareholders

After-tax net amount of other comprehensive incomes attributable to minority shareholders

VII Total comprehensive income

VII Total comprehensive income75,785,230.3110,888,347.23
Total comprehensive income attributable to parent company71,883,527.848,028,223.81

Total comprehensive income attributable to minorityshareholders

Total comprehensive income attributable to minority shareholders3,901,702.472,860,123.42

VIII. Earnings per share

VIII. Earnings per share
(I) basic earnings per share0.090.01

(II) diluted earnings per share

(II) diluted earnings per share0.090.01

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

CONSOLIDATION CASH FLOW STATEMENT

Prepared by Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. January - September, 2023 Unit: RMB Yuan

ItemsJanuary-September, 2023January - September, 2022
I. Cash flows arising from operating activities:

Cash received from selling commodities and providinglabor services

Cash received from selling commodities and providing labor services3,229,896,254.251,829,040,062.90

Write-back of tax received

Write-back of tax received21,889,014.2819,518,381.48
Other cash received concerning operating activities78,453,591.9054,399,279.15

Subtotal of cash inflow arising from operating activities

Subtotal of cash inflow arising from operating activities3,330,238,860.431,902,957,723.53
Cash paid for purchasing commodities and receiving labor service2,602,049,135.491,744,352,580.69

Cash paid to/for staff and workers

Cash paid to/for staff and workers537,303,228.95268,660,102.51

Taxes paid

Taxes paid153,454,073.4259,392,595.29
Other cash paid concerning operating activities203,703,906.88125,454,018.63

Subtotal of cash outflow arising from operating

activities

Subtotal of cash outflow arising from operating activities3,496,510,344.742,197,859,297.12

Net cash flows arising from operating activities

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

Cash received from recovering investment139,133,456.91
Cash received from investment income10,144,138.7992,354,809.76

Net cash received from disposal of fixed, intangible andother long-term assets

Net cash received from disposal of fixed, intangible and other long-term assets1,493,813.50644,321.28

Net cash received from disposal of subsidiaries andother units

Net cash received from disposal of subsidiaries and other units5,605,792.62
Other cash received concerning investing activities

Subtotal of cash inflow from investing activities

Subtotal of cash inflow from investing activities11,637,952.29237,738,380.57

Cash paid for purchasing fixed, intangible and otherlong-term assets

Cash paid for purchasing fixed, intangible and other long-term assets49,050,141.3717,235,374.55
Cash paid for investment

Net cash paid for achievement of subsidiaries and otherbusiness units

Net cash paid for achievement of subsidiaries and other business units12,056,951.02

Other cash paid concerning investing activities

Other cash paid concerning investing activities
Subtotal of cash outflow from investing activities61,107,092.3917,235,374.55

Net cash flows arising from investing activities

Net cash flows arising from investing activities-49,469,140.10220,503,006.02
III. Cash flows arising from financing activities

Cash received from absorbing investment

Cash received from absorbing investment

Including: Cash received from absorbing minorityshareholders' equity investment by subsidiaries

Including: Cash received from absorbing minority shareholders' equity investment by subsidiaries
Cash received from loans355,908,174.90247,850,000.00

Cash received from issuing bonds

Cash received from issuing bonds

Other cash received concerning financing activities

Other cash received concerning financing activities6,600,000.0096,398,036.29
Subtotal of cash inflow from financing activities362,508,174.90344,248,036.29

Cash paid for settling debts

Cash paid for settling debts266,276,141.98237,000,000.00
Cash paid for dividend and profit distributing or interest paying32,167,304.2425,307,407.67

Including: dividends or profit paid by subsidiaries tominority shareholders

Including: dividends or profit paid by subsidiaries to minority shareholders

Other cash paid concerning financing activities

Other cash paid concerning financing activities38,899,306.1676,335,398.74
Subtotal of cash outflow from financing activities337,342,752.38338,642,806.41

Net cash flows arising from financing activities

Net cash flows arising from financing activities25,165,422.525,605,229.88

IV. Influence on cash due to fluctuation in exchange rate

IV. Influence on cash due to fluctuation in exchange rate-900,644.832,465,826.18
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

Add: Balance of cash and cash equivalents at the period -begin921,663,803.17438,969,337.87
VI. Balance of cash and cash equivalents at the period–end730,187,956.45372,641,826.36

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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