[三季报]冰山B:2021年第三季度报告（英文版）
Stock Code: 000530; 200530 Short Form of the Stock:Bingshan; Bingshan B No:2021-040 Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. QUARTERLY REPORT FOR THIRD QUARTER, 2021 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 2021.7-9 2020.7-9 Increase/decrease over 2020.7-9 2021.1-9 2020.1-9 Increase/decrease over 2020..1-9 Total operating income 657,628,182.17 462,998,187.84 42.04% 1,751,913,803.14 1,336,401,602.30 31.09% Net profit attributable to parent company -26,965,424.33 27,947,259.43 -196.49% -41,549,634.34 4,342,913.91 -1,056.72% Net profit attributable to parent company after deducting non-recurring gains/losses -39,026,942.89 10,312,723.62 -478.43% -50,909,617.50 2,055,728.63 -2,518.00% Net cash generated from operating activities _ _ _ 4,865,672.01 -96,748,498.60 105.03% Basic earnings per share -0.030 0.033 -196.97% -0.049 0.005 -1,080.00% Diluted earnings per share -0.030 0.033 -196.97% -0.049 0.005 -1,080.00% Weighted average return on net asset yield -0.80% 0.83% Decrease1.63 percentage points -1.20% 0.13% Decrease 1.33 percentage points 2021.9.30 2020.12.31 Increase/decrease over 2020.12.31 Total assets 5,861,887,990.24 5,681,568,328.36 3.17% Shareholder’s equity attributable to parent company 3,309,504,058.37 3,375,609,788.07 -1.96% In the first three quarters of 2021, the Company's net profit is in the red, mainly due to the following reasons: 1. In the first three quarters of this year, the Company took the initiative to reform its main business, promoted engineering and manufacturing in an orderly way, and specialized and deeply cultivated advantageous market segments. Operating revenue increased by 31.09% year on year, but under the influence of rising raw material prices and intensified market competition, gross profit margin decreased by 2.77 percentage points year on year. 2. Among the associated enterprises of the Company, due to the implementation of the new financial instrument standards of the Sino-foreign joint ventures from January 1, 2021, the provision of credit impairment losses increased significantly, and the Company's investment income to the associated enterprises decreased by 34.93 million yuan 1.2 Non-recurring profits and losses and their amounts Item of non-recurring gains and losses Amount of this report period Amount from beginning of year to the end of report period Profit and loss from disposal of non-current assets 18,777.67 27,171.60 Government subsidies which were included in the current profits and losses 445,847.54 1,360,302.53 Debt restructuring gains and losses 859,297.68 859,297.68 Disposal gains from investments on financial assets available for sale, and gains from fair value change of other non-current financial assets 8,692,167.86 3,657,264.74 Other non-operating incomes and expenses except the above mentioned 4,137,615.45 5,515,024.78 Income tax effects 2,100,116.65 1,729,462.92 Minority equity interests effects (after tax) -7,929.01 329,615.25 Total 12,061,518.56 9,359,983.16 1.3 Major changes in main financial items and indexes, and description of the cause √ Applicable □ Inapplicable (1). Accounts paid in advance increased 64.54% compared with the beginning of the year, mainly due to the increase of orders in this period, especially the increase of engineering projects, and the need to advance payment to suppliers. (2). Other receivables decreased 49.72% compared with the beginning of the year, mainly due to received the equity transfer price of Bingshan Consulting Phase II. (3). Inventory increased 21.33% compared with the beginning of the year, mainly due to the new revenue recognition rules make some goods issued and unfinished construction projects temporarily unable to carry forward income; Based on the large increase in orders, projects under construction and wIP input increased significantly. (4). Other current assets decreased 34.86% compared with the beginning of the year, mainly due to the adjustment of the value added tax retention allowance changes. (5). Accounts payable increased 36.81% compared with the beginning of the year, mainly due to the increase of purchase orders, related purchases did not arrive at the agreed payment node. (6). Salary payable decreased 60.76% compared with the beginning of the year, mainly due to the payment of provision employee compensation of last period-end during the reporting period. (7). Operating sales increased 31.09% on a year-on-year basis, mainly due to the Company's specialization and deep cultivation advantages of market segments to achieve better results. (8). Operating cost increased 35.37% on a year-on-year basis, mainly due to the increase in operating income, as well as raw material prices. (9). Selling and distribution expenses increased 44.06% on a year-on-year basis, mainly due to increased market expansion in the current period and limited normal sales activities due to the outbreak of COVID-19 in the same period last year. (10). R&D expenses increased 40.39% on a year-on-year basis, mainly due to the increase in operating income and corresponding increase in R&D investment. (11).Financial expenses decreased 33.79% on a year-on-year basis, mainly due to the decrease of loans. (12). Net cash flows arising from operating activities increased 101.61 million yuan ,on a year-on-year basis, mainly due to the increase in cash received from merchandise sales. (13).Net cash flows arising from financing activities decreased 74.35 million yuan on a year-on-year basis, mainly due to due to the reduction of working capital loans, the cash received for borrowing decreased and the cash paid for debt repayment increased. 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 period 39,977 Total number of shareholders as of the last month before disclosure of the annual report 0 Shareholding of top ten shareholders Name Nature Proportion Total number Number of shares with sale restriction Number of pledged shares or shares frozen Dalian Bingshan Group Co., Ltd. Domestic non-state-owned legal person 20.27% 170,916,934 Sanyo Electric Co., Ltd. Overseas legal person 8.72% 73,503,150 Lin Zhenming Foreign natural person 0.80% 6,740,000 Zhang Sufen Domestic natural person 0.74% 6,260,000 Wang Shaohong Domestic natural person 0.55% 4,654,200 Wu An Domestic natural person 0.53% 4,500,000 Zhang Hui Domestic natural person 0.46% 3,860,015 Fu Hui Domestic natural person 0.45% 3,762,868 Xue Hong Domestic natural person 0.42% 3,570,000 Dalian industrial development investment Co., Ltd. Domestic non-state-owned legal person 0.40% 3,406,725 Shareholding of top ten shareholders without sale restriction Name Number of shares without sale restriction Type of shares Dalian Bingshan Group Co., Ltd. 170,916,934 RMB denominated ordinary shares Sanyo Electric Co., Ltd. 73,503,150 Domestically listed foreign shares Lin Zhenming 6,740,000 Domestically listed foreign shares Zhang Sufen 6,260,000 RMB denominated ordinary shares Wang Shaohong 4,654,200 RMB denominated ordinary shares Wu An 4,500,000 Domestically listed foreign shares Zhang Hui 3,860,015 RMB denominated ordinary shares Fu Hui 3,762,868 RMB denominated ordinary shares Xue Hong 3,570,000 Domestically listed foreign shares Dalian industrial development investment Co., Ltd. 3,406,725 RMB denominated ordinary shares Notes to the associated relationship and uniform actions of the above shareholders Dalian 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 39,977, including 32,312 A-share shareholders and 7,665 B-share shareholders. 2.2 Information on the total number of preferred shareholders and the shares held by top ten preferred shareholders as of the end of the reporting period □ Yes √ No §3 Other important Matters During the reporting period, the Company sold 1,700,000 shares of Guotai Junan at an average selling price of 19.30 yuan per share. After the sale, the Company holds Guotai Junan shares 11,210,008 shares. §4 Financial Statements CONSOLIDATION BALANCE SHEET Prepared by Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. September 30, 2021 Unit: RMB Yuan Items 30-Sep-2021 31-Dec-2020 Current assets: Monetary funds 350,507,661.16 373,445,731.67 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 104,899,644.08 139,121,037.78 Accounts receivable 919,233,029.01 817,011,955.75 Receivables financing 50,894,081.37 61,737,282.56 Accounts paid in advance 254,185,752.90 154,481,509.35 Other receivables 33,953,850.71 67,527,176.86 Interest receivables 890,207.24 46,879.68 Dividend receivable 2,390,723.75 25,923.75 Inventories 887,715,500.62 731,658,797.98 Contract assets 101,072,065.05 91,430,011.60 Assets held for sale Non-current asset due within one year 31,381,785.92 42,003,576.60 Other current assets 15,121,186.78 23,214,091.44 Total current assets 2,748,964,557.60 2,501,631,171.59 Non-current assets: Finance asset held available for sales Held-to-maturity investment Long-term account receivable 62,846,409.09 65,867,973.25 Long-term equity investment 1,591,335,837.19 1,597,241,363.62 Other Non-current financial assets 212,766,101.23 239,304,098.83 Investment property 121,733,404.00 126,288,477.92 Fixed assets 844,689,047.45 891,147,058.82 Construction in progress 34,194,018.48 34,254,599.42 Right of use assets 21,251,616.12 Engineering material Disposal of fixed asset Productive biological asset Oil and gas asset Intangible assets 144,142,163.38 145,442,721.24 Expense on Research and Development Goodwill 1,750,799.49 1,750,799.49 Long-term expenses to be apportioned 8,572,848.05 9,660,538.07 Deferred income tax asset 69,641,188.16 68,979,526.11 Other non-current asset Total non-current asset 3,112,923,432.64 3,179,937,156.77 Total assets 5,861,887,990.24 5,681,568,328.36 Current liabilities: Short-term loans 239,770,000.00 282,971,600.00 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 363,174,678.21 295,151,372.38 Accounts payable 1,049,694,392.67 767,267,232.43 Accounts received in advance Contract liabilities 319,732,006.18 295,100,657.10 Wage payable 12,214,678.51 31,125,808.94 Taxes payable 10,953,008.80 9,714,194.25 Other accounts payable 32,691,393.45 43,017,466.38 Interest payable 2,320,000.06 1,839,166.81 Dividend payable 533,156.00 533,156.00 Liabilities held for sale Non-current liabilities due within one year 13,757,444.77 37,157,126.41 Other current liabilities 130,283,204.17 152,173,946.30 Total current liabilities 2,172,270,806.76 1,913,679,404.19 Non-current liabilities: Long-term loans 150,000,000.00 160,000,000.00 Bonds payable Preferred stock Perpetual bond Lease liability 18,352,509.03 Long-term account payable 14,842,323.96 14,622,463.75 Long-term wage payable Special Payable Anticipation liabilities 7,592,239.01 Deferred income 101,502,893.88 104,457,568.86 Deferred income tax liabilities 28,299,665.19 32,010,364.83 Other non-current liabilities Total non-current liabilities 312,997,392.06 318,682,636.45 Total liabilities 2,485,268,198.82 2,232,362,040.64 Shareholders’ equity Share capital 843,212,507.00 843,212,507.00 Other equity instruments Preferred stock Perpetual bond Capital public reserve 710,644,497.71 726,768,468.00 Less: Treasury stock Other comprehensive income 2,501,459.77 2,501,459.77 Special preparation Surplus public reserve 818,311,159.24 805,525,775.33 Generic risk reserve Retained profit 934,834,434.65 997,601,577.97 Total owner’s equity attributable to parent company 3,309,504,058.37 3,375,609,788.07 Minority interests 67,115,733.05 73,596,499.65 Total owner’s equity 3,376,619,791.42 3,449,206,287.72 Total liabilities and shareholder’s equity 5,861,887,990.24 5,681,568,328.36 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. September 30, 2021 Unit: RMB Yuan Items January-September, 2021 January- September, 2020 I. Total sales 1,751,913,803.14 1,336,401,602.30 II. Total operating cost 1,818,095,119.51 1,377,192,596.04 Including: Operating cost 1,537,686,115.03 1,135,910,729.34 Taxes and associate charges 14,782,923.04 12,002,625.35 Selling and distribution expenses 91,119,255.32 63,251,592.88 Administrative expenses 108,999,166.58 110,494,420.86 R&D expenses 54,388,434.55 38,740,337.42 Financial expense 11,119,224.99 16,792,890.19 Including: interest expense 14,919,014.00 14,416,491.69 interest income 5,032,852.90 1,187,533.42 Add: Other income 1,360,302.53 6,605,737.40 Gain/(loss) from investment 19,064,313.18 56,407,749.06 Including: income from investment on affiliated enterprise and jointly enterprise 9,479,575.98 44,414,524.88 Gain/(loss) from change in fair value (loss as “-“) 3,754,002.40 -5,887,502.00 Credit impairment loss (loss as “-“) -5,784,568.00 -17,224,475.88 Assets impairment loss (loss as “-“) -8,258,805.29 Gain/(loss) from asset disposal (loss as “-“) 27,171.60 191,798.01 III. Operating profit -56,018,899.95 -697,687.15 Add: non-business income 7,547,220.30 2,602,750.06 Less: non-business expense 1,004,350.24 145,844.65 IV. Total profit -49,476,029.89 1,759,218.26 Less: Income tax -1,445,628.95 -1,927,158.87 V. Net profit -48,030,400.94 3,686,377.13 (I) Net profit from continuous operation -48,030,400.94 3,686,377.13 (II)Net profit from discontinuing operation Net profit attributable to parent company -41,549,634.34 4,342,913.91 Minority shareholders’ gains and losses -6,480,766.60 -656,536.78 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 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 -48,030,400.94 3,686,377.13 Total comprehensive income attributable to parent company -41,549,634.34 4,342,913.91 Total comprehensive income attributable to minority shareholders -6,480,766.60 -656,536.78 VIII. Earnings per share (I) basic earnings per share -0.049 0.005 (II) diluted earnings per share -0.049 0.005 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, 2021 Unit: RMB Yuan Items January - September, 2021 January - September, 2020 I. Cash flows arising from operating activities: Cash received from selling commodities and providing labor services 1,366,490,775.49 931,236,976.16 Write-back of tax received 15,767,416.25 16,087,153.47 Other cash received concerning operating activities 76,419,830.88 62,856,556.06 Subtotal of cash inflow arising from operating activities 1,458,678,022.62 1,010,180,685.69 Cash paid for purchasing commodities and receiving labor service 991,847,218.79 720,359,068.70 Cash paid to/for staff and workers 258,665,354.27 230,849,374.08 Taxes paid 61,236,522.09 51,361,443.49 Other cash paid concerning operating activities 142,063,255.46 104,359,298.02 Subtotal of cash outflow arising from operating activities 1,453,812,350.61 1,106,929,184.29 Net cash flows arising from operating activities 4,865,672.01 -96,748,498.60 II. Cash flows arising from investing activities: Cash received from recovering investment 1,703,262.34 2,396,000.00 Cash received from investment income 80,638,354.58 69,918,361.75 Net cash received from disposal of fixed, intangible and other long-term assets 718,371.68 445,649.60 Net cash received from disposal of subsidiaries and other units 36,263,700.00 Other cash received concerning investing activities Subtotal of cash inflow from investing activities 119,323,688.60 72,760,011.35 Cash paid for purchasing fixed, intangible and other long-term assets 8,985,428.62 9,124,507.49 Cash paid for investment 45,400,000.00 Net cash paid for achievement of subsidiaries and other business units Other cash paid concerning investing activities Subtotal of cash outflow from investing activities 54,385,428.62 9,124,507.49 Net cash flows arising from investing activities 64,938,259.98 63,635,503.86 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 258,870,000.00 351,751,600.00 Cash received from issuing bonds Other cash received concerning financing activities 60,343,934.67 32,926,633.20 Subtotal of cash inflow from financing activities 319,213,934.67 384,678,233.20 Cash paid for settling debts 337,563,543.19 333,447,223.97 Cash paid for dividend and profit distributing or interest paying 24,159,906.92 42,052,924.78 Including: dividends or profit paid by subsidiaries to minority shareholders Other cash paid concerning financing activities 34,847,480.91 12,182,713.89 Subtotal of cash outflow from financing activities 396,570,931.02 387,682,862.64 Net cash flows arising from financing activities -77,356,996.35 -3,004,629.44 IV. Influence on cash due to fluctuation in exchange rate 188,430.42 -660,346.06 V. Net increase of cash and cash equivalents -7,364,633.94 -36,777,970.24 Add: Balance of cash and cash equivalents at the period -begin 314,978,460.49 301,527,354.56 VI. Balance of cash and cash equivalents at the period–end 307,613,826.55 264,749,384.32 Legal Representative: Ji Zhijian Chief Financial Official: Wang Jinxiu Person in Charge of Accounting Organization: Li Sheng Note: The adjustment of financial statements New lease Standards for the First Implementation Relevant to Financial Statements at the Beginning of the Year √Applicable □Not applicable Consolidated balance sheet Consolidated balance sheet Item 31-Dec-2020 1-Jan-2021 The amount of adjustment Fixed assets 891,147,058.82 867,177,638.62 -23,969,420.20 Right of use assets 23,969,420.20 +23,969,420.20 Long-term payables 14,622,463.75 -14,622,463.75 Lease liabilities 14,622,463.75 +14,622,463.75 Board of Directors of Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. October 28, 2021 中财网
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