Stock Code: 000530; 200530 Short Form of the Stock: Bingshan; BingshanB No: 2020-010
Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.QUARTERLY REPORT FOR FIRST QUARTER, 2020
§1 Important Notes
1.1 The directors and the Board of Directors, the supervisors and the Supervisory Board, and Senior staffmembers of Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. (hereinafter referred to as theCompany) hereby confirm that there are no any important omissions, fictitious statements or seriousmisleading carried in this report, and shall take all responsibilities, individual and/or joint, for the reality,accuracy and completeness of the whole contents.
1.2 All the directors have attended this Board meeting of the Company.
1.3 Chairman of the Board of Directors of the Company Mr. Ji Zhijian, Financial Majordomo Mr. Ma Yun,and the head of Accounting Department Mrs. Zhang Lingling hereby confirm that the financial report of thequarterly report is true and complete.
1.4 This report is written respectively in Chinese and in English. In the event of any discrepancy between thetwo above-mentioned versions, the Chinese version shall prevail.§2 Company Profile
2.1 Major accounting data and financial indexes
| January-March, 2020 | January-March, 2019 | Increase/decrease compared with previous year | |
| Operating revenue | 463,218,112.74 | 565,075,729.08 | -18.03% |
| Net profit attributable to shareholders of listed companies | -58,673,476.79 | 106,786,822.74 | -154.94% |
| Net profit belonging to the shareholders of listed companies after the deduction of non-recurring profit and loss | -29,177,871.92 | 16,426,346.23 | -277.63% |
| Net cash flow from operating activities | -81,344,046.60 | -94,192,502.27 | 13.68% |
| Basic earnings per share | -0.070 | 0.125 | -156.00% |
| Diluted earnings per share | -0.070 | 0.125 | -156.00% |
| Weighted average return on net asset yield | -1.75% | 3.11% | Decrease 4.86 percentage points |
| March 31, 2020 | December 31, 2019 | Increase/decrease compared with year beginning | |
| Total assets | 5,542,445,476.49 | 5,525,503,256.26 | 0.31% |
| Owner's equity attributable to shareholders of listed companies | 3,320,891,553.10 | 3,379,565,029.89 | -1.74% |
Net profit attributable to parent company decreased and slipped into loss significantly y-o-y , mainly due to
1.in the same period of last year, there was a large amount of non-recurring gains,following:(1) The Gain fromchange in fair value of Guotai Junan has been recorded into the current profit and loss, which is about 64.50million yuan;(2)During the reporting period, the Company's exchangeable corporate bondholders exchanged atotal of 8.3889 million shares, increasing the current investment income about 40.57 million yuan. 2.Duringthe reporting period, there are large amount of non-recurring losses, mainly due to that the negative change in
fair value of Guotai Junan has made the Company loss about 29.51million yuan in first quarter,2020.3.Duringthe first quarter, with the affection of the 2019-nCo, the profit has decreased along with the operating revenue.
non-recurring gains and losses
√ Applicable □ Inapplicable
| Item of non-recurring gains and losses | Amount from beginning of year to the end of report period |
| Disposal gains from investments on financial assets available for sale | -34,719,117.68 |
| Other operating revenue or expense | 27,763.78 |
| Income tax effect | -5,203,206.10 |
| Minority shareholders’ gains and losses | 7,457.07 |
| Total | -29,495,604.87 |
2.2 Total number and particulars of the shareholders by the end of the report period
| Total number of shareholders in the reporting period | 50,350 | |||||||
| 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 | 0 | ||||
| Sanyo Electric Co., Ltd. | Overseas legal person | 8.72% | 73,503,150 | 0 | ||||
| Zhang Sufen | Domestic natural person | 1.18% | 9,920,000 | 0 | ||||
| Lin Zhenming | Foreign natural person | 0.77% | 6,476,250 | 0 | ||||
| Wu An | Domestic natural person | 0.53% | 4,500,000 | 0 | ||||
| Sun Huiming | Domestic natural person | 0.52% | 4,384,079 | 0 | ||||
| Dalian industrial development investment Co., Ltd. | Domestic non-state-owned legal person | 0.40% | 3,406,725 | 0 | ||||
| Xue Hong | Domestic natural person | 0.37% | 3,160,000 | 0 | ||||
| Li Xiaohua | Domestic natural person | 0.36% | 3,011,908 | 0 | ||||
| Chen Naisheng | Domestic natural person | 0.27% | 2,311,330 | 0 | ||||
| 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 | ||||||
| Zhang Sufen | 9,920,000 | RMB denominated ordinary shares | ||||||
| Lin Zhenming | 6,476,250 | Domestically listed foreign shares | ||||||
| Wu An | 4,500,000 | Domestically listed foreign shares | ||||||
| Sun Huiming | 4,384,079 | Domestically listed foreign shares | ||||||
| Dalian industrial development investment Co., Ltd. | 3,406,725 | RMB denominated ordinary shares | ||||||
| Xue Hong | 3,160,000 | Domestically listed foreign shares | ||||||
| Li Xiaohua | 3,011,908 | RMB denominated ordinary shares | ||||||
| Chen Naisheng | 2,311,330 | RMB denominated ordinary shares | ||||||
3 Important Matters
3.1 Major changes in main financial items and indexes, and description of the cause
√ Applicable □ Inapplicable
3.2 Important Progress and the analysis of the influence and solution
□Applicable√ Inapplicable
3.3 Commitments of the Company or its shareholders, actual controller and other related parties in thereporting period or carried to the reporting period
□ Applicable √ Inapplicable
3.4 The securities investment
√Applicable □Inapplicable
1. Other current assets has decreased significantly compared with the beginning of the year, mainly due to thechange of value added tax allowance.
2. The salary payable has decreased significantly compared with the beginning of the year, mainly due to thepayment of provision employee compensation of last period-end during the reporting period.
3. The tax payable has decreased significantly compared with the beginning of the year, mainly due to thedecreased of VAT payable and income tax payable.
4. The interest payable has decreased significantly compared with the beginning of the year, mainly due to thedecrease of interest payable of Exchangeable Bonds for which the Company has made provision.
5. The selling expenses has decreased significantly y-o-y,, mainly due to the 2019-nCoV has limited thesales activities.
6. The income on investment has decreased significantly y-o-y,, mainly due to that the holders of “18 dalengEB” has concentratedly exchanged their shares and the decrease of profit from joint enterprise.
7. The Gain from change in fair value has decreased significantly y-o-y, mainly due to the change in fair valueof Guotai Junan, with that the fair value of Guotai Junan has changed positively in last year.Notes to the associated relationship and uniformactions of the above shareholders
| 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. |
| Type of securities | Stock Code | Short Form of the Stock | Initial cost of investment | Accounting Measurement Model | Begin Book value | Fair Value Change Gains and Losses in the Current Period | Accumulated Fair Value Change Included in Equity | Current Purchase | Current Sale | Gains and losses during the reporting period | Final Book value | Accounting subjects | Source of funds |
| Stock | 601211 | Guotai Junan | 15,710,008.00 | Measuring at fair value | 290,478,047.92 | -34,719,117.68 | 0.00 | 0.00 | 0.00 | -34,719,117.68 | 255,758,930.24 | Other non-current financial assets | Own fund |
| Total | 15,710,008.00 | -- | 290,478,047.92 | -34,719,117.68 | 0.00 | 0.00 | 0.00 | -34,719,117.68 | 255,758,930.24 | -- | -- | ||
3.5 Trust management
□ Applicable √ Inapplicable
3.6 Derivative investment
□ Applicable √ Inapplicable
3.7 Table of investigation, communication, interview received
□ Applicable √ Inapplicable
3.8 Violation of external guaranty
□ Applicable √ Inapplicable
3.9 Non-operation capital occupation by holding shareholders and their related parties in the listed company
□ Applicable √ Inapplicable
Board of Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.April18, 2020