[中报]冰山B(200530):2023年半年度报告（英文版）
原标题:冰山B:2023年半年度报告（英文版） Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. 2023 Semiannual Report August, 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. All 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 " Management discussion and analysis" in Section 3 of this Semiannual Report describes major risks , 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 Company 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 semi-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 Management Discussion and Analysis ................................................................................. 8 Section 4 Corporate Governance ....................................................................................................... 15 Section 5 Environmental and Social Responsibility .......................................................................... 16 Section 6 Important Items .................................................................................................................. 17 Section 7 Change in Share Capital and Shareholders' Information ................................................. 19 Section 8 Information on Preferred Stock.......................................................................................... 21 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 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
Section 2 About the Company and Main Financial Indicators I. Company information
II. Contact persons and information
III. Other situations 1. Contact of company If the registered address, office address and zip code, website, email box of the Company 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 report 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 2022 for details. IV. 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 Unit: RMB Yuan
□ 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. VI. Non-recurring profits and losses and their amounts
I. 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/units, as well as pressure vessels, combination warehouses, controlled atmosphere preservation warehouses, refrigeration stations, etc. The Company provides product sales and comprehensive solutions for both domestic and international markets, with self operated sales as the main focus and channel sales as the auxiliary. In the first half of 2023, rigid demands such as food safety, energy security, 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 issues such as intensified market competition and difficulties in improving efficiency. Faced with opportunities and challenges, the Company focuses on the hot and cold industries, continuously delving into advantageous segmented markets such as cold chain logistics, petrochemicals, beer and dairy products, meat slaughter, ship refrigeration, ice and snow venues, polycrystalline silicon, and vigorously expanding new businesses such as CCUS, ORC, energy storage thermal management, actively expanding and seizing 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 signed many more projects with industry giants such as BASF and PetroChina, and the influence of Bingshan brand in the industry was significantly improved. 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 successfully signed key projects such as Lianyungang Cold Chain Logistics Project, Red Star Cold Chain Direct Supply Center Expansion Project, and Luoyang Wanbang Agricultural Products Cold Chain Logistics Park 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 new businesses such as CCUS, ORC, and energy storage thermal management. II. Analysis of core competence The Company focuses on main business of cold and heat; 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 cold-heat 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. III. Analysis of main business In the first half of 2023, the Company focused on hot and cold businesses, deeply cultivated segmented markets, solidly improved core competitiveness, effectively expanded industry influence, and continued to strengthen its main business. In the first half of 2023, the Company achieved an operating revenue of 2,327.54 million yuan, an increase of 80.17% year-on-year; The net profit attributable to the shareholders of the listed company was 57.41 million yuan, , an increase of 94.18% year-on-year. During the reporting period, the Company adhered to principles of innovation and accelerated development. Effectively improving production capacity and efficiency, with monthly output reaching new highs. We have independently developed multiple highlight products such as CO transcritical products, heat pump products, 2 and energy storage products. The Company's CO pressurized liquefaction device was selected as an innovative 2 product at the 2023 China Refrigeration Exhibition. The Company's falling film semi enclosed screw ice water unit was selected for the "2022 China Refrigeration Society Energy Conservation and Ecological Environment Product and Technology Catalog". During the reporting period, the subsidiary of the Company, Bingshan Engineering Company, and Sonyo Refrigerator, collaborated efficiently and continued to deepen their efforts in segmented markets. In the field of product business, actively serve high-end customers, and sign many more projects with industry giants such as BASF Germany and PetroChina; Signed the largest single crystal silicon project in Bingshan history, leading the polysilicon market. In the field of engineering, key projects such as Lianyungang Cold Chain Logistics Project, Red Star Cold Chain Direct Supply Center Expansion Project, and Luoyang Wanbang Agricultural Products Cold Chain Logistics Park Project have successfully won the bid. In the field of energy industry, CCUS projects and energy storage thermal management projects have been rapidly promoted. During the reporting period, the Company's subsidiary Wuhan New World Refrigeration continued to optimize its products and solutions. Professional support for energy security，and the sales of underground cooling devices in mines have increased significantly. The water vapor screw compressor unit was selected for the "2023 China Refrigeration Exhibition Innovative Products" and the "2022 China Refrigeration Society Energy Conservation and Ecological Environment Product and Technology Catalog". During the reporting period, the Company's subsidiary Sonyo Compressor achieved independent innovation and qualitative growth. R290 DC variable frequency vortex compressor for heat pump hot water was selected as an innovative product at the 2023 China Refrigeration Exhibition. Received the "Excellent Supplier Award" from Songz in 2022. During the reporting period, the subsidiary of the Company, Bingshan Guardian, focused on energy-saving control of cold and hot systems and innovative development. Develop the Battery management system in the control system of all vanadium Flow battery, and cooperate deeply with key customers such as Rongke Power and Kaifeng Times Power. Build a 5G fully connected factory, and rapidly promote Digital transformation. During the reporting period, in order to further strengthen the main business of cooling and heating, the Company acquired 100% equity of Panasonic Refrigeration after a major asset restructuring in 2022. Main financial data variations as compared to the same period of last year Monetary unit: RMB Yuan
Sales income and costs
Main business structure Monetary unit: RMB yuan
IV. Analysis of the non-main business □Applicable√Not applicable V. Analysis of assets & liabilities 1. Remarkable change in assets Monetary unit: RMB yuan
□ Applicable √ Not applicable 3. Assets & liabilities which are measured by fair value √ Applicable □ Not applicable The beginning number is 148,267,008.72 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 4,364,003.20 yuan, and the final number is 152,631,011.92 yuan. 3. Restrictions on asset rights at the end of reporting period √ Applicable □ Not applicable
VI. Analysis of investments 1.The overall situation √ Applicable □ Not applicable
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 applicable
(2) Derivative investment □Applicable √ Not applicable During the reporting period, the Company does not exist derivative investment. VII. The material assets and equity sale 1. The material assets sale □Applicable √Not applicable 2. The material equity sale □Applicable √Not applicable VIII. Analysis of major subsidiary companies and mutual shareholding companies √ Applicable □ Not applicable Unit: ten thousand yuan (except for registered capital)
The Company purchase 100 percent equity of Sonyo Refrigeration During the reporting period ,the equity transfer has been finished, Sonyo Refrigeration became a wholly-owned subsidiary of the Company. IX. The structured corporate bodies which the Company controlled □Applicable √Not applicable X. Main risks the company faces and response measures (1)Increasing market competition risk Countermeasures: focus on the hot and cold industry, deeply cultivate the market segmentation; rapidly improve the engineering and manufacturing power; orderly improve the level of intelligent manufacturing and service- oriented manufacturing; speed up the transformation and upgrading of inherent undertakings; accelerate the implementation of new kinetic energy cultivation; continue to build Bingshan enterprise and interest community. (2)Risk of slow marketing of new products and technologies Countermeasures: create differentiated competitiveness of new products and technologies; strengthen the technology marketing and service marketing, and cultivate the market segmentation professionally; appropriate use of financial leasing, contract energy management and other innovative models. (3)Risk of high level of trade receivables Countermeasures: strictly implement the project management system and further strengthen the management of accounts receivable; enhance quality of contract through intensified customer credit assessment and contract appraisal; effective control of increase in trade receivables by reduction of guarantee deposits, and taking bank credit instruments as guarantee deposits; improve contract execution through stricter review on goods delivery, intensified control on project construction and acceptance, and post-sale service; prepare special composition solutions and incentive policy to accelerate settlement of trade receivables with relatively long aging. Section 4 Corporate governance I. Shareholders’ general meeting convened in the reporting period
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