Stock Code: 000530; 200530 Short Form of the Stock: Bingshan; Bingshan B; No: 2025-024
Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.
§1 Important Notes
This summary is extracted from the original of the semiannual report. For more information, the
investors are recommended to refer to the original.
Non-standard audit opinion presentation □ Applicable √ Not applicable
Profit distribution and dividend payment □ Applicable √ Not applicable
§2 Company Profile
Short form of the stock Bingshan; Bingshan B
Stock code 000530; 200530
Listed stock exchange Shenzhen Stock Exchange
Legal name in Chinese 冰山冷热科技股份有限公司
Short form of legal name 冰山冷热
Legal English name Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.
Abbreviation of legal English name Bingshan
Legal representative Ji Zhijian
Did the Company retroactively adjust or restate the accounting data of previous years due to
change in the accounting policy and correction of accounting mistakes?
□ Yes √ No
Unit: RMB Yuan
Increase/decrease compared with
the same period of last year
Operating revenue 2,401,232,729.35 2,463,277,349.70 -2.52%
Net profit attributable to shareholders of listed companies 79,541,057.88 78,529,977.92 1.29%
Net profit belonging to the shareholders of listed companies 74,162,602.88 67,346,978.95 10.12%
after the deduction of non-recurring profit and loss
Net cash flow from operating activities -1,032,514.46 -32,585,984.75 96.83%
Basic earnings per share 0.09 0.09 0.00%
Diluted earnings per share 0.09 0.09 0.00%
Weighted average return on net asset yield 2.52% 2.55% Decrease 0.03 percentage points
Increase/decrease compared with
Total assets 7,453,532,411.01 7,628,315,487.35 -2.29%
Owner's equity attributable to shareholders of listed
companies
Total number of shareholders in the reporting Total number of shareholders as of the last month
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% 170,916,934.00 0 0
legal person
Sanyo Electric Co., Ltd. Overseas legal person 8.72% 73,503,150.00 0 0
Zou Changling Domestic natural person 0.81% 6,830,000.00 0 0
Lin Zhenming Foreign natural person 0.80% 6,710,000.00 0 0
Xue Hong Domestic natural person 0.43% 3,660,000.00 0 0
Chen Niansheng Domestic natural person 0.39% 3,249,000.00 0 0
Shen Kemin Domestic natural person 0.37% 3,115,800.00 0 0
Zhang Lianyun Domestic natural person 0.28% 2,331,500.00 0 0
Chen Naisheng Domestic natural person 0.27% 2,311,330.00 0 0
Jiang Wenliang Domestic natural person 0.25% 2,080,000.00 0 0
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 67,572,
including 60,416A-share shareholders and 7,156 B-share shareholders.
Variation in controlling shareholders in the report period
□ Applicable √ Not applicable
Variation in actual controllers in the report period
□ Applicable √ Not applicable
□ Applicable √ Not applicable
In the reporting period, the Company didn’t own preferred stock.
□ Applicable √ Not applicable
In the reporting period, the Company didn’t own Corporate Bonds.
§3 Important items
In the first half of 2025, the Company focused on the hot and cold business, deeply cultivated
segmented markets, solidly improved core competitiveness, effectively expanded industry
influence, and continuously strengthened its main business. In the first half of 2025, the
Company achieved an operating revenue of 2,401.23 million yuan, an decrease of 2.52% year-
on-year; The net profit attributable to the shareholders of the listed company was 79.54 million
yuan, , an increase of 1.29% year-on-year.
During the reporting period, the Company continued to strive and develop steadily. The falling
film opening screw chiller unit has been tested in practical applications and is now being mass-
produced for the market. The second phase of the photovoltaic project on the roof of the new
factory area has been officially connected to the grid for power generation, taking a crucial step
towards the construction of a zero carbon factory. The carbon dioxide transcritical cold and
heat integrated coupling unit was selected as an "innovative product" at the 2025 China
Refrigeration Exhibition, and the OCCS liquefaction unit won the "gold medal product" at the
been selected for the "2024 China Refrigeration Society Energy Conservation, Carbon
Reduction, and Environmental Protection Product Catalog".
During the reporting period, the subsidiary of the Company, Bingshan Engineering Company,
continued to deeply cultivate the segmented market. In the field of product business, actively
serving high-end customers, winning bids for multiple high standard projects such as CNOOC
Shell project, PetroChina Jilin Petrochemical project, and Sinopec Maoming Petrochemical
project. In the field of engineering, we have undertaken multiple key projects, including the
first phase of the Guangzhou East Rail Intermodal Hub project, the comprehensive cold chain
logistics project of Shenzhen State Railway, the BYD Intelligent New Energy Vehicle
Comprehensive Testing Field project, and the Shunde Prefabricated Vegetable project. In the
field of energy, there has been a significant increase in orders for energy storage thermal
management projects and CCUS projects.
During the reporting period, the subsidiary of the Company, Wuhan New World Refrigeration,
continuously optimized its products and solutions. The development of oil-free compressors is
progressing in an orderly manner, and integrated compressor projects are efficiently
coordinated. Focusing on the advantages of natural gas pressure energy generation, mining
explosion-proof refrigeration equipment, steam compression, process gas compression and
other segmented markets, we will solidly explore with the help of professional groups.
During the reporting period, the subsidiary of the Company, Bingshan Jiade, focused on energy-
saving and intelligent control of cold and hot systems, and innovated and iterated development.
The large-scale implementation of energy storage products and the two-way breakthrough of
industrial energy-saving technology standardization continue to strengthen the leading
advantage. Energy storage customers are expanding in an orderly manner, and energy storage
orders are growing rapidly. The standardized energy-saving solution of "permanent magnet
motor+universal frequency conversion+MPC algorithm" has been launched, and the customer
application has started strongly.
During the reporting period, the subsidiary of the Company, Sonyo Compressor, achieved
independent innovation and qualitative growth. After 218 days of hard work, the large-scale
vortex intelligent workshop has been officially completed and launched. Actively innovate and
upgrade to assist in the cooling transformation of data centers. Accelerate the development of
overseas markets with the help of China Customs AEO advanced certification. The 160cc high-
efficiency variable frequency scroll compressor for energy storage has been selected as an
"innovative product" at the 2025 China Refrigeration Exhibition.
During the reporting period, the subsidiary of the Company, Sonyo Refrigeration, focused on
industrial energy conservation and strengthened innovative growth. Winning multiple key
projects including CNOOC Shell Huizhou Phase III Ethylene Project and MCC Jiaonai 2025
Lithium Bromide Unit Centralized Procurement. The intelligent hybrid air source heat pump
unit has been selected as an "innovative product" at the 2025 China Refrigeration Exhibition.
The marine lithium bromide absorption chiller/heater unit has been selected for the "2024 China
Refrigeration Society Energy Conservation, Carbon Reduction, and Environmental Protection
Product Catalog".
During the reporting period, the subsidiary of the Company, Sonyo Refrigerator, focused on
product development and focused on the dual carbon and energy storage fields. The latest
research and development of fluorine pump compressor composite integrated energy storage
units, as well as orders for high-efficiency heat management heat exchange units for energy
storage batteries, continue to grow. The carbon dioxide transcritical refrigeration system is
widely used in commercial applications, and multiple projects of the sixth generation
transcritical full injection refrigeration unit have been successfully delivered.
Board of Directors of Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.
August 14, 2025
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