冰山B:2025年半年度报告(英文版)

Bingshan Refrigeration & Heat Transfer
Technologies Co., Ltd.
2025 Semiannual Report
August, 2025

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,
individualand/orjoint,forthereality,accuracyandcompletenessofthewholecontents.
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
competitionriskandtheaccountsreceivableisonthehighside.Seetherelated
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 Mrs.
Wu Bin 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......16
Section 5 Important items......17
Section 6 Change in Share Capital and Shareholders' Information ......19
Section 7 Bond Related Information ......21
Section 8 Financial Report......22
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

Definitions
Defined item Stands for Meaning
Reporting period Stands for From Jan. 1, 2025 to Jun. 30, 2025
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 the Company where
the Company holds 100% of its shares.
Sonyo Compressor Stands for Sonyo Compressor (Dalian) Co., Ltd. Formerly Panasonic Appliances Compressor (Dalian)
Co., Ltd. one of the subsidiaries of the Company, where the Company holds100% of its shares.
Sonyo Refrigeration Stands for Sonyo Refrigeration (Dalian) Co., Ltd. Formerly Panasonic Refrigeration(Dalian) Co., Ltd.,
one of the subsidiary of the 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.
BingshanGuardian Dalian Bingshan Guardian Automation Co., Ltd. one of the subsidiaries of the Company
where the Company holds 100% of its shares.
Sonyo Refrigeration System (Dalian) Co., Ltd. Formerly Panasonic Appliances Refrigeration
Sonyo Refrigeration System Stands for System (Dalian) Co., Ltd., one of the subsidiary of the Company, where the Company holds
100% of its shares.

Section 2 About the Company and Main Financial Indicators
I. Company information
Short form of the stock Bingshan; Bingshan B
Stock code 000530; 200530
Listed stock exchange 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 n