[中报]冰山B:2021年半年度报告（英文版）
原标题:冰山B:2021年半年度报告（英文版） Bin g shan Refrigeration & Heat Transfer Technolog ies Co., Ltd. 20 2 1 Semiannual Report August, 20 2 1 Section 1 Important Notice, Table of Contents, and Definitions The directors and the Board of Directors, the supervisors and the Supervis ory Board, and Senior staff members of Bin g shan Refrigeration & Heat Transfer Technolog ies Co., Ltd. (hereinafter referred to as the Company) hereby confirm that there are not any important omissions, fictitious statements or serious misleading carried in t his report, and shall take all responsibilities, individual and/or joint, for the reality, accuracy and completeness of the whole contents. All dire ctors have attended this Board m eeting of the Company. There is no significant risk having adverse influe nce on attainment of the Company's future development strategy and business targets. The paragraph " Management discussion and analysis " in Section 3 of this Semiannual Report describes major risks , including the risk of i ncreasing market competition risk , the market promotion for new product and new technology slow and the a ccounts receivable is on the high side. See the related sections for the countermeasures to be taken by the Company. The C ompany plans to distribute no cash dividends, no bonus shares and convert no reserve fund into capital stock. 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 se mi - annual report is true and complete. This report is written respectively in Chinese and in English. In the event of any discrepancy between the two above - mentioned versions, the Chinese version shall prevail. CONTENTS Section 1 Important Notice, Table of Contents, and Definitions ................................ ...................... 2 Section 2 About the Company and Main Financia Indicators ................................ ........................... 6 Section 3 Manag ement D iscussion and A nalysis ................................ ................................ ................. 8 Section 4 Corporate G overnance ................................ ................................ ................................ ....... 15 Section 5 Environmental and S ocial R esponsibility ................................ ................................ .......... 1 6 Section 6 Important I tems ................................ ................................ ................................ .................. 1 7 Section 7 Change in Share Capital and Shareholders' Information ................................ ................. 19 Section 8 Information on Preferred Stock ................................ ................................ .......................... 2 1 Section 9 Bond Related Information ................................ ................................ ................................ .. 22 Section 10 Financial Report ................................ ................................ ................................ ............... 23 Reference Documents 1. The accounting statements bearing the signatures and seals of the legal rep resentative, the financial majordomo and the accountants in charge. 2. The original copies of all the Company's documents and the original copies of the bulletins published on the newspapers designated by the China Securities Regulatory Commission in the report period. 3. Time for reference: from Monday to Friday 8:00 - 11:30 (am) 1:00 - 4:30 (pm) Liaison persons: Mr. Song Wenbao, Ms Du Yu Tel: 0086 - 411 - 87968130 Fax: 0086 - 411 - 87968125 Definitions Defined item Stands for Meaning Reporting period Sta nds for From Jan. 1, 202 1 to Jun. 30, 202 1 The Company, this Company Stands for Bingshan Refrigeration & Heat Transfer Technologies Co.,Ltd. Bingshan Engineering Company Stands for Dalian Bingshan Group Engineering Co., Ltd.,one of the subsidiaries of th e Company where the Company holds 100% of its shares. Wuxin Refrigeration Stands for Wuhan New World Refrigeration Industry Co., Ltd., one of the subsidiaries of the Company where the Company holds 100% of its shares. Bingshan Service Company Stands for Bingshan Technology Service (Dalian) Co., Ltd. one of the subsidiaries of the Company where the Company holds 100% of its shares. Panasonic Compressor Stands for Panasonic Appliances Compressor (Dalian) Co., Ltd. one of the associated companies of the Com pany, where the Company holds 40% of its shares. Panasonic Cold - Chain Stands for Panasonic Appliances Cold - Chain (Dalian) Co., Ltd. one of the associated companies of the Company, where the Company holds 40% of its shares. Panasonic Refrigerating System Stands for Panasonic Appliances Refrigerating System (Dalian) Co., Ltd., one of the associated companies of the Company, where the Company holds 20% of its shares Jing Xue Insulation Stands for Jiangsu JingXue Insulation Technology Co.,Ltd., one of the as sociated companies of the Company, where the Company holds 21.91 % of its shares. Section 2 About the Company and Main Fi n anc ia l Indicators I. Company information Short form of the stock Bingshan ; Bingshan B Stock code 000530; 200530 Listed stock exchan ge 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 II. Contact persons and information Secretary of the Board of Directors Authorized representative for securities affairs Name Song Wenbao Du Yu Address No.106, Liaohe East Road, Dalian Economic and Technological Development Zone No.106, Liaohe East R oad, Dalian Economic and Technological Development Zone Tel. 0411 - 87968130 0411 - 87968822 Fax 0411 - 87968125 0411 - 87968125 E - [email protected] [email protected] III. Other situations 1. Contact of company If the registered address, office addre ss and zip code, website, email box of the C ompany had any change in the report period □ Applicable √ Not applicable 2. Information disclosure and place of preparation If the information disclosure and the place of preparation had any change in the re port period □ Applicable √ Not applicable The name of newspaper for information disclosure selected by the Company, the address of the website designated by China Securities Regulatory Commission for carrying semi - annual report, the place where the semi - annual report of the Company is prepared had no change in the report period. Refer to the Annual Report for 20 20 for details. IV. Main accounting data and financial indicators Did the Company retroactively adjust or restate the accounting data of previo us years due to change in the accounting policy and correction of accounting mistakes? □ Applicable √ Not applicable Unit: RMB Yuan 20 2 1 .1 - 6 20 20 .1 - 6 Increase/decrease compared with the same period of last year Operating revenue 1,094,285,620.97 873,403,414.46 25.29% Net profit attributable to shareholders of listed companies - 14 ,584,210.01 - 23,604,345.52 38.21% Net profit belonging to the shareholders of listed companies after the deduction of non - recurring profit and loss - 11,882,674.61 - 8,256,994.99 - 43.91% Net cash flow from operating activities - 28,887,836.28 - 78,350,688.75 63.13% Basic earnings per share - 0.017 - 0.028 39.29% Diluted earnings per share - 0.017 - 0.028 39.29% Weighted average return on net asset yield - 0.43% - 0.70% In crease 0.27 percentage points 202 1 .6.30 20 20 .12.31 Increase/decrease compared with 20 20 .12 .31 Total assets 5,877,895,817.75 5,681,568,328.36 3.46% Owner's equity attributable to shareholders of listed companies 3,336,469,482.70 3,375,609,788.07 - 1.16% V.1.Difference of accounting data between as per Chinese accounting standards and as per International Accounting Standards □ Applicable √ Not applicable 2. Difference of accounting data between as per Chinese accounting standards and as per Foreign Accounting Standards The difference of accounting data between as per Chinese Accounting Standards and as per International Accou nting Standards was 0 . VI. Non-recurring profits and losses and their amounts item Amount Disposal gains and losses of non - current asset 8,393.93 Government subsidies included in current profit or loss 914,454.99 Disposal gains from investments on fin ancial assets available for sale, and gains from fair value change of other non - current financial assets - 5,034,903.12 Other non - operating revenue or expense 1,377,409.33 Influence on income tax - 370,653.73 Influence on minority shareholders 337,544.26 Total - 2,701,535.40 Section 3 Management discussion and analysis I. The Company’s Main business during the reporting period Focusing on the hot and cold business, the Company is committed to the development of industrial refrigeration and heating busi ness, commercial refrigeration business, air conditioning and environment business, engineering and service business and new business fields, covering the key areas of the hot and cold industry chain and creating a complete hot and cold industry chain. The Company's main products include piston and screw refrigeration compressors, pressure vessels, combined warehouses, controlled atmosphere storage, quick freezer, ice maker, flake ice maker, granulator, etc., which are used in national defense, scientific r esearch, petroleum, chemical, textile, medicine, power generation, agriculture, animal husbandry, fishery and catering service industries. The Company's product sales and comprehensive solutions provide both domestic and international markets, with self - su pporting sales as the main and channel sales as the auxiliary. In the first half of 2021, rigid demands such as food safety, consumption upgrading, energy conservation and emission reduction will benefit the refrigeration and air conditioning industry. At the same time, the refrigeration and air conditioning industry is also facing the problems of intensified market competition, increased cost pressure, and difficulty in improving efficiency. In the face of opportunities and challenges, the Company focused on the hot and cold business, strengthened and optimized the professional work department, deeply cultivated the advantageous market segments of cold chain logistics, beer and dairy products, petrochemical industry, marine refrigeration, environmental simu lation, ice and snow, and actively expanded and occupied the domestic market. 1. Industrial refrigeration and heating business Industrial refrigeration is an important field reflecting the core technology of the Company. After years of development, the Com pany has been close to the technical level of the main international competitors in the field of industrial refrigeration, and has achieved catching up in some fields. Based on the traditional refrigeration, the Company realizes the balance of cold and hea t through the utilization of heat, which greatly improves the energy utilization rate. 2. Commercial refrigeration business Commercial refrigeration is the Company's core business. In China, the Company takes the lead in opening up the green intelligent c old chain from the first kilometer of the field to the last 100 meters of the residential community, which is the competitive advantage of the Company. Focusing on food refrigeration, the Company has patented products pre - cooling from the field, all kinds of quick freezing equipment and refrigeration facilities of various specifications, and China's leading experience in the design and installation of large - scale ammonia and carbon dioxide refrigerators. On the basis of absorbing the relevant experience of Japan, Europe and the United States, combined with China's new needs, to provide newer products, better solutions and fresher experience for the field of food freezing and refrigeration. 3. Air conditioning and environment business In recent years, relyi ng on the complete industrial chain, the Company has continuously carried out transformation and upgrading in the field of air conditioning and environment, developed more energy - saving and environmental protection products around the blue sky project, and accelerated the transformation and upgrading from air treatment to environmental governance. At present, the Company has developed a series of innovative products around the market segments of commercial air conditioning, central air conditioning and spec ial air conditioning, and provides corresponding solutions in different segments around these innovative products. For hospitals, electronic factories, high - end real estate, rail transit and other fields, provide targeted solutions. 4. Engineering and serv ice business Cold and hot engineering and service are the Company's advantageous business fields. In recent years, the Company has realized transformation and upgrading from the manufacturer of cold and hot equipment to the service provider of comprehensiv e solution of cold and hot through the development of engineering and service industry, and realized the dual wheel drive of the enterprise, and provided more professional and accurate services to each segment market, and constantly created new value for c ustomers and realized common growth. At present, the Company focuses on petrochemical technology, refrigeration, central air conditioning, ice and snow engineering, artificial environment and other market segments. Relying on the enterprise's industrial ch ain, value chain and ecosystem, the Company provides services from consulting, planning, design to manufacturing, installation, commissioning and service in the whole process and life cycle. At the same time, according to the needs of customers, promote th e combination of industry and finance, and provide services for customers through the form of project general contracting and financial leasing. The Company not only provides customized products and projects for customers, but also relies on Bingshan Indus trial Internet to provide customers with full life cycle intelligent services. The Company's customized remote monitoring system, relying on the Internet, Internet of things, cloud platform and big data, provides advance services for the refrigeration syst em, realizes rapid response to on - site maintenance through app software, and provides 4S, energy - saving transformation, security transformation, computer room hosting and other services for the cooling and heating system through these information and intel ligent means. 5. New business With the deepening of China's economic transformation and upgrading, as well as the continuous introduction of environmental governance policies, the domestic industrial energy conservation and environmental protection industr y is growing rapidly, the level of energy conservation and consumption reduction of enterprises and the comprehensive utilization of resources is constantly improving, and the energy industrial structure has changed. Strengthening the optimal utilization o f energy has become a development trend. For low - grade energy recycling, the Company provides customers with a series of energy - saving, environmental protection, efficient new products, in line with the national strategic requirements of energy conservatio n, emission reduction and sustainable development, and contributes professional wisdom to the national carbon peak and carbon neutral strategy. II. Analysis of core competence The Company focuses on main business of cold and heat; independent R&D and joint v enture partnerships are cooperate with each other effectively; capital resources integration and business model innovation are in a positive interaction; the community of business and interest are being multi - storey created; the develop mode with Bingshan characteristic are formed. The Company has the integrated cold - heat industrial chain for offering kinds of comprehensive solution services, including design, manufacture, installation and maintenance etc., and can satisfy individual requirements preferabl y. The Company possesses a mature and solid marketing networks and after - sale service network on/off - line, and can offer high quality and high value - added services more initiative and faster for clients from around the city. After overall relocation refo rm, the new factory of intelligence, environment protection, high efficiency and safety are put into used, which produces a strong comparative advantage for creating higher value to the customers. While move forward with transformation and upgrading for f ormer business, the Company will implement the cultivation for new business, thus the sustainable healthy development will come more and more feasible. Core - competency of the Company further promoted in the reporting period. III. Analysis of main business In t he first half of 2021, the Company further focused on the hot and cold main business and market segments, focused on the improvement of main business and the cultivation of new kinetic energy, continued to improve and innovate, improve quality and efficien cy, and solidly enhanced its core competitiveness. In the first half of 2021, the Company achieved operating income of 1,094,286 thousand yuan, a year - on - year increase of 25.29%; achieved net profit attributable to shareholders of the Company of - 14,584 th ousand yuan. Net profit slipped into loss, mainly affected by the rising prices of raw materials, the cost pressure of the Company and associated companies increased, and the improvement effect of the Company's main business was not fully reflected. During the reporting period, the Company adhered to the principle of innovation and took the initiative to change. The construction of corporate culture is carried out in a pragmatic way, unified thinking, dream weaving, and several core technical personnel retu rn. The organization is strengthened and vigorously promoted, and the market - oriented integrated operation is implemented through organizational restructuring and business process reengineering. Through the project management system, fully implement the pr oject budget, the whole process of operation control, ensure profits and prevent risks. The improvement of engineering capacity and manufacturing capacity was implemented in an orderly manner, with a significant year - on - year increase in orders and a signif icant improvement in operating cash flow. The red water pre - cooling device was selected as "innovative products of 2021 China Refrigeration Exhibition". During the reporting period, Bingshan Engineering company, a subsidiary of the Company, optimized and s trengthened its professional work department, specialized and deeply cultivated its advantageous market segments. It won the bid of Xinjiang Production and Construction Corps central kitchen project (the contract amount is about 340 million yuan), which is the largest single project contract in the history of the Company. It won the bid of Shanghai Star indoor comprehensive ice and snow venue project (the contract amount is about 130 million yuan), which is the largest ice and snow integration contract in C hina at present. It won the bid of Zhongwei Guolian project (the contract amount is about 120 million yuan), which is the largest contract of apple controlled atmosphere storage undertaken by the Company in recent years. Polysilicon projects have been awar ded repeatedly, with a total contract amount of about 80 million yuan. CO2 projects broke out in a centralized way, and the influence increased rapidly. During the reporting period, Wuhan New World Refrigeration, a subsidiary of the Company, further implem ented the optimization of products and solutions in combination with the national strategy of "carbon peaking and carbon neutralization". Integrate capital resources, focus on standard products and energy products with remarkable energy saving and emission reduction effect, and comprehensive solutions such as industrial waste heat utilization, natural gas liquefaction, comprehensive utilization of natural gas pressure energy, and anti freezing of coal mine shaft. Marine screw expansion generator set was sel ected as "innovative product of 2021 China Refrigeration Exhibition". During the reporting period, the new service platform of Bingshan Service company, a subsidiary of the Company, was put into use, and the pace of business innovation was accelerated. Bin gshan service cloud platform 2.0 system is officially launched, which will further improve the online service quality and provide customers with convenient and fast remote services and data analysis. The trusteeship and operation guarantee business of equi pment room has been solidly promoted, and the layout of national service network has been continuously optimized. Equipment recycling, equipment leasing, energy management and other service extension projects were successfully implemented. Main financial data variations as compared to the same period of last year Monetary unit: RMB Yuan Report period Same period of last year Increase or decrease from the same period of last year Reason for variation Operating revenue 1,094,285,620.97 873,40 3,414.46 25.29% Operating cost 950,404,769.26 748,075,096.12 27.05% Selling and distribution expenses 56,710,524.65 35,446,794.72 59.99% This is mainly due to the limitation of normal sales activities during the same period last year due to the outbrea k of COVID - 19. Administrative expenses 71,726,497.78 70,770,126.86 1.35% Financial expenses 6,240,668.73 10,061,328.07 - 37.97% Mainly is the current loan decreases, the interest expense decreases accordingly; At the same time, the amount of money collected increased, and the interest income increased. Income tax 2,514,997.49 - 1,492,259.17 268.54% Mainly is the company held G uotai Junan stock market value changes deferred income tax. R&D expenses 30,738,151.60 24,715,021.28 24.37% Net cash flow coming from operating activities - 28,887,836.28 - 78,350,688.75 63.13% M ainly due to an increase in cash received from sales of merchandise. Net cash flow coming from investment activities 26,104,458.71 9,300,097.50 180.69% Mainly due to the amount of equity t ransfer received from the second phase of Bingshan C onsulting and a large dividend from Panasonic compressor. Net cash flow coming from fund - raising activities - 57,923,362.57 36,370,952.10 - 259.26% Mainly due to a decrease in the amount of cash received f or borrowings and an increase in the amount of cash paid to service debt due to a decrease in working capital loans. Net increase in cash and cash equivalents - 60,589,772.47 - 32,637,366.94 - 85.65% Sales income and costs Report period Same period of la st year Increase or decrease from the same period of last year Amount Proportion to the Sales costs Amount Proportion to the Sales costs Total sales incom e 1,094,285,620.97 100% 873,403,414.46 100% 25.29% By industry Refrigeration and air - condition ing equipment 1,069,601,775.40 97.74% 857,035,486.66 98.13% 24.80% Others 24,683,845.57 2.26% 16,367,927.80 1.87% 50.81% By product Industrial products 864,579,358.55 79.01% 706,209,216.71 80.86% 22.43% Installation project 196,759,744.53 17.98% 140,901,726.54 16.13% 39.64% Other products and services 32,946,517.89 3.0 1 % 26,292,471.21 3.0 1 % 25.31% By region Domestic sales 1,036,222,666.10 94.69% 811,120,620.69 92.87% 27.75% Foreign sales 58,062,954.87 5.31% 62,282,793.77 7.13% - 6 .78% Main business structure Monetary unit: RMB yuan Operating revenue Operating costs Gross profit Increase/decrease of operating revenues from the same period of last year Increase/decreas e of operating costs from the same period of last year Increa se/decrease of gross profit from the same period of last year By industry Refrigeration and air - conditioning 1,069,601,775.40 939,531,941.76 12.16% 24.80% 28.28% Decrease 2.38 percentage points By product Industrial products 864,579,358.55 739,818,0 56.96 14.43% 22.43% 27.08% Decrease 3.14 percentage point s Installation project 196,759,744.53 192,591,016.59 2.12% 39.64% 36.23% I ncrease 2.45 percentage point s Other products and services 8,262,672.32 7,122,868.21 13.79% - 16.75% - 20.00% I ncre ase 3.50 percentage point s By region Domestic sales 1,011,538,820.53 887,688,139.05 12.24% 26.91% 29.89% Decrease 2.02 percentage points Foreign sales 58,062,954.87 51,843,802.71 10.71% - 3.19% 5.78% Decrease 7.58 percentage points IV. Analysis of the non-main business √ Applicable □ Not applicable unit: RMB yuan income from investment 28,211,757.61 It is sustainable In the corporate profit composition, the investment income accounts for a large proportion, mainly because the C ompany has many associated companies and the overall profitability is strong, and the investment income is sustainable. During the reporting period, Panasonic Compressor, an associated company of the Co mpany, grew steadily in response to changes. Market development has been steadily promoted, and the market share of leading products has increased for two consecutive years. The research and development of 25HP high - power scroll compressor has been complet ed and put into the market. The CO 2 rotary compressor has been successfully applied to the new generation hydrogen hybrid electric locomotive of CRRC. Deepen organizational change, set up South China Support Center, support direct sales and agents to devel op the heat pump market. During the reporting period, the Company's associated company, Panasonic Cold Chain, continued to deepen its advantageous market. Master Kong's cooperation has been further expanded, and the beverage freezer market has again won la rge orders. In response to the personalized demand of Meituan optimization, the first one - piece, high - capacity refrigerant storage quick freezing equipment in China was quickly launched. Based on the good cooperation of Costco's first store in China (Shang hai store), we successfully won the bid of Costco's second store in China (Suzhou store). During the reporting period, the Company's associated company, Panasonic Refrigerator System further improved its engineering and manufacturing capabilities. It won t he bid of Beijing Yizhuang pharmaceutical cold storage project and contracted to build the first covid - 19 vaccine cold storage with high quality. It won the bid for Sinopharm Wuhan covid - 19 vaccine storage project, and contracted to build the second covid - 19 vaccine cold storage at a high speed. The newly developed 40HP high - power semi - enclosed piston compressor is officially launched, which can provide better service for customers. During the reporting period, Jingxue Energy Saving, an associated company o f the Company, successfully obtained the approval of China Securities Regulatory Commission for registration and was listed on the growth enterprise market of Shenzhen Stock Exchange on June 18, 2021. The future development will be assisted by the capital market. V. Analysis of assets & liabilities 1. Remarkable change in assets Monetary unit: RMB yuan 30 - 6 - 20 2 1 3 1 - 12 - 20 20 Proportion increase/decrease. Amount Proportion to the total assets Amount Proportion to the total assets Monetary funds 312,814,0 43.49 5.32% 373,445,731.67 6.57% De crease 1.25 percentage points Accounts receivable 879,930,798.08 14.97% 817,011,955.75 14.38% In crease 0.59 percentage points Contract assets 93,128,010.70 1.58% 91,430,011.60 1.61% Decrease 0.03 percentage points Inve ntories 857,546,805.51 14.59% 731,658,797.98 12.88% Increase 1. 7 1 percentage points Investment property 123,235,378.12 2.10% 126,288,477.92 2.22% Decrease 0. 12 percentage points Long - term equity investment 1,606,295,377.43 27.33% 1,597,241,363.62 28.11% Decrease 0 . 78 percentage points Fixed assets 842,597,806.71 14.34% 891,147,058.82 15.68% De crease 1.34 percentage points Construction in progress 39,010,357.07 0.66% 34,254,599.42 0.60% In crease 0. 0 6 percentage points Right of use assets 22,430,952.90 0 .38% 0.00% Increase 0. 38 percentage points Short - term loans 239,530,000.00 4.08% 282,971,600.00 4.98% Decrease 0.90 percentage points Contract liabilities 369,202,216.43 6.28% 295,100,657.10 5.19% Increase 1.09 percentage points Long - term loans 150,000 ,000.00 2.55% 160,000,000.00 2.82% Decrease 0.27 percentage points Lease liabilities 10,971,589.76 0.19% 0.00% Increase 0 .19 percentage points 2. The main overseas assets □ Applicable √ Not applicable 3. Assets & liabilities which are measured by fair value √ Applicable □ Not applicable T he beginning number is 226,312,440.24 yuan for other non - current financial assets measured by fair value . Changes in the profit and loss of the fair value in this period is - 5,034,903.12 yuan ， the current sale amount is 0 yuan, and the final number is 221,277,537.12 yuan . 3. Restrictions on asset rights at the end of reporting period √ Applicable □ Not applicable Items 20 2 1 .6.30 Reasons Monetary fund 58,425,355.47 Guarantee money Notes Receivable 21,890,716.83 Pledge VI. Analysis of investments 1.The overall situation √ Applicable □ Not applicable Investment in the report period (yuan) Investment in the same period of last year (yuan) Amount of variation 1,606,295,377.43 1,597,241,363.62 0.57% 2.The significant equity investment during the reporting period □ Applicable √ Not applicable 3 The significant non-equity investment during the reporting period □Applicable √Not applicable 4.The financial asset investment (1) The securities investment √ Applicable □ Not appl icable Stock code Stock abbreviation Initial investment cost Accounting measurement model Book value at the beginning Changes in the profit and loss of the fair value in this period Accumulative change of fair value credited to equity Current sale amount R eport period profit and loss Book value in the ending Accounting subjects Source of funds 601211 Guotai Jun’an 12,910,008.00 fair value measurement 226,312,440.24 - 5,034,903.12 0.00 0 2,194,701.36 （未完）  |