[年报]冰山B(200530):2022年年度报告（英文版）
原标题:冰山B:2022年年度报告（英文版） Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. 2022 Annual Report April, 2023 Section 1 Important Notice, Table of Contents, and Definitions 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 not 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. 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 annual report is true and complete. All the directors have attended this Board meeting of the Company. There is no significant risk having adverse influence on attainment of the Company's future development strategy and business targets. The paragraph " The prospect of the Company's future development " in Section 3 of this Annual Report describes major risks the Company may be confronted with, including the risk of Increasing market competition risk, the market promotion for new product and new technology slow, and the Accounts receivable is on the high side. See the related sections for the countermeasures to be taken by the Company. The profit distribution proposal reviewed and adopted at this Board meeting of the Company is: Based on the total capital stock of 843,212,507 shares, the dividend of RMB 0.1 in cash (including tax) will be distributed for every 10 shares; The Company will not transfer the capital reserve to increase capital stock. 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 Financial Indicators .................................................................................................................6 Section 3 Management discussion and analysis .................................................................................................................................... 10 Section 4 Corporate governance ............................................................................................................................................................ 22 Section 5 Environmental and social responsibility ................................................................................................................................ 32 Section 7 Change in Share Capital and Shareholders' Information ...................................................................................................... 377 Section 8 Information on Preferred Stock............................................................................................................................................ 411 Section 9 Information on Corporate bonds .......................................................................................................................................... 422 Section 10 Financial Report................................................................................................................................................................. 433 Reference Documents The accounting statements bearing the signatures and seals of the legal representative, 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
II. Contact persons and information
III. Information disclosure and place of preparation for inquiry
IV. Alteration to the registration
□ Applicable √ Not applicable Financial consultant the Company appointed for performance of the consistent supervision duty in the reporting period
VI. Main accounting data and financial indicators 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? □ Applicable √ Not applicable
recent three fiscal years are all negative, and the audit report in the last year shows that the Company's ability to continue operations is uncertain □ Applicable √ Not applicable
VII.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 Accounting Standards was 0. 3.Explanation of reasons for differences in accounting data under domestic and foreign accounting standards √Applicable □Not applicable The difference of accounting data between as per Chinese Accounting Standards and as per International Accounting Standards was 0. VIII. The quarter main financial indicators
IX. Non-recurring profits and losses and their amounts
Note: Other profit and loss items that meet the definition of non recurring profit and loss are those in which the Company is able to control the aforementioned company due to additional investment in Sonyo Compressors and Sonyo Refrigeration System. The difference between the fair value and book value of the aforementioned company's equity held by the Company before the purchase date is recognized as investment income. Section 3 Management discussion and analysis The industry situation of the Company during the reporting period 1. Industry development trend In recent years, the influence of refrigeration and air conditioning industry in China's national economy is growing, conferring increasing influence upon consumption upgrade, food safety and livelihood improvement. Besides, development model under high-end, intelligent, green and service is experiencing rapid growth. In 2022, the refrigeration and air-conditioning industry was facing a complex and severe market situation at home and abroad. The problems of intensified market competition, increased cost pressure, difficulty in improving efficiency and high accounts receivable continued to plague the operation and development of the industry. In 2023, the industry will continue to differentiate, competition will continue to intensify, difficulties and opportunities coexist. Upgrading of major enterprises in the industry will be further accelerated. Intelligent manufacturing, green manufacturing and service-oriented manufacturing will become increasingly prominent, and the pace of high-quality development will be more robust. 2. Challenges and opportunities faced by the Company (1)Opportunities faced by the Company Energy conservation, carbon reduction and improving energy efficiency have become the consensus of the whole society; Overall promotion of the national "double carbon" strategy; The 14th five year plan for the development of cold chain logistics has been issued, and the market demand for cold chain equipment is expected to grow rapidly; With the promulgation of the new cold storage design standard, the use opportunities of ammonia refrigerant have increased. With the strong technology bases, innovative business model, and system advantages, the Company is capable of capturing the above opportunities in a good position. (2)Challenges faced by the Company The cultivation of energy conservation and emission reduction market still needs time; the transformation and upgrading process is complex. II. The Company’s Main business during the reporting period Focusing on the hot and cold industry, the Company is committed to the development of industrial refrigeration and heating business, 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 research, 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-supporting sales as the main and channel sales as the auxiliary. During the reporting period,, rigid demands such as food safety, consumption upgrading, energy conservation and carbon 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. Facing the opportunities and challenges, focusing on the hot and cold industry, the Company continued to deeply cultivate the advantageous market segments such as cold chain logistics, petrochemical industry, beer and dairy products, meat slaughtering, ship refrigeration, ice and snow venues and polysilicon, vigorously expanded CCUS, ORC, photovoltaic and other new undertakings, 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 Company 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 heat through the utilization of heat, which greatly improves the energy utilization rate. During the reporting period, the Company has signed many projects with multinational industry giants such as BASF in Germany and Albemarle in the United States, which has significantly improved the influence of Bingshan brand in the industry. 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 cold 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. During the reporting period, the Company has successfully signed key projects such as the Guangxi Fangcheng Port Fishery Wharf Cold Storage Project, the Guangzhou Yuhu Cold Chain Market Trading Center Refrigeration Project, and the Shanxi Yiming Phase II Meat Products (Precast Dishes) Processing Project. 3. Air conditioning and environment business In recent years, relying 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 special 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 service 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 comprehensive 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 customers 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 chain, 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 the combination of industry and finance, and provide services for customers through the form of project general contracting and financial leasing. 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 industry 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 of 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 conservation, carbon reduction and sustainable development, and contributes professional wisdom to the national carbon peak and carbon neutral strategy. During the reporting period, the Company made good progress in CCUS, ORC, photovoltaic and other new undertakings. III. Analysis of core competence The Company focuses on main business of refrigeration and heating; independent R&D and joint venture 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 refrigeration and heating industrial chain for offering kinds of comprehensive solution services, including design, manufacture, installation and maintenance etc., and can satisfy individual requirements preferably. 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. Following the technical route of cold and heat balance, the Company has independently developed a series of energy-saving, environment-friendly, efficient and intelligent cold and heat technologies and products, and actively fulfilled the dual carbon responsibility. While promoting the transformation and upgrading of its inherent business in an orderly manner, the Company actively cultivates new momentum for development, and the path of sustainable growth is increasingly clear. During the reporting period, the Company focused on the hot and cold business, deeply cultivated the market segment, and steadily improved its sales force, product force, technical force, engineering force and service force, so as to further enhance its core competitiveness. IV. Analysis of main business 1. summarize In 2022, the Company focused on hot and cold business, deeply cultivated market segments, solidly enhanced core competitiveness, and accelerated the improvement of main business. In 2022, the Company achieved operating revenue of 2,893.09 million yuan, up 38.48% year on year; The net profit attributable to shareholders of the listed company was 18.26 million yuan, turning losses into profits on a year-on-year basis. During the reporting period, the Company was honest, innovative and pragmatic. Enrich and strengthen the management team, adjust and optimize the organizational structure and business processes. Multiple strategies were taken simultaneously to effectively improve production capacity and productivity, and the monthly output value reached a new record high. Close to the market and leading the market, we independently developed petrochemical standard LNG BOG compressor units, ammonia heat pump units, high standard project units and other highlight products. The "National High-end Equipment Manufacturing Industry Standardization Pilot" was successfully accepted. The Company was selected into the list of Liaoning Intelligent Factory in 2022. The Company's cascade ammonia screw heat pump unit was selected as the "Innovative Product of 2022 China Refrigeration Exhibition". The screw refrigeration unit for large ocean going fishing vessels of the Company was selected as the "specialized, refined and new" product of Liaoning Province in 2022. During the reporting period, Bingshan Engineering Company, a subsidiary of the Company, continued to deepen its competitive market segments. In the field of product business, it actively serves high-end customers, and has signed many projects with multinational industry giants such as BASF in Germany and Albemarle in the United States, which has significantly improved the influence of Bingshan brand in the industry; Join hands with leading enterprises to lead the polysilicon market and win large orders. In the field of engineering, the Xinjiang Central Kitchen Project, the Shanghai Star Indoor Comprehensive Ice and Snow Venue Project and other landmark projects were orderly constructed, and key projects such as the Guangxi Fangcheng Port Fishery Wharf Cold Storage Project, the Guangzhou Yuhu Cold Chain Market Trading Center Refrigeration Project, and the Shanxi Yiming Phase II Meat Products (Precast Dishes) Processing Project were successfully signed. In the field of energy industry, CCUS projects have been rapidly promoted, and many demonstration projects of central enterprises have been successfully signed, with a substantial year-on-year increase in orders. During the reporting period, the Company's subsidiary Wuhan New World Refrigeration further optimized its products and solutions. Based on the existing traditional products, it focused on expanding the market segments of energy, coal mines and LNG. The main model of energy products has achieved good results in marketing, and the steam screw compressor unit has achieved a breakthrough in sales of new products. The largest single unit installed power project of ORC screw expansion generator set - Jiangsu Silbang Petrochemical Waste Heat Power Generation Project has successfully generated electricity, realizing full automatic unattended operation. During the reporting period, the subsidiary of the Company, Bingshan Guardian, focused on energy saving control of cooling and heating systems, and achieved rapid and qualitative growth. New Meica was absorbed and merged to achieve resource integration, complementary advantages and efficient operation. Continuously improve and optimize edge computing intelligent devices and energy-saving control algorithms, and effectively improve the level of refined and intelligent control. It won the bid for the distribution box project of the Dalian Bay undersea tunnel project, helping Dalian's key projects. During the reporting period, the Company's subsidiary, Bingshan Ryosetsu, vigorously expanded the cause of quick freezing. It is specialized in assisting major corn producing areas in Heilongjiang, Xinjiang, Hebei and other major corn producing areas in China to achieve a total capacity distribution of 150 tons/hour for quick freezing of fresh corn. The down spin flow rate freezer for corn cob was selected as the "Innovative Product of 2022 China Refrigeration Exhibition". The fresh corn quick freezing machine was selected into the Guiding Catalogue for the Promotion and Application of the First (Set) Major Scientific and Technological Equipment in Liaoning Province.
（3）Was the Company's sales income on material objects more than that on labor service? √ Yes □ No
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