DALIAN REFRIGERATION CO., LTD.
QUARTERLY REPORT FOR FIRST QUARTER, 2016
§1 Important Notes
1.1 The directors and the Board of Directors, the supervisors and the Supervisory Board, and Senior staff
members of Dalian Refrigeration 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.
1.2 All the directors have attended this Board meeting of the Company except Mr Kudou sinn.
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. Mao Chunhua hereby confirm that the financial report of the quarterly
report is true and complete.
1.4 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.
§2 Company Profile
2.1 Major accounting data and financial indexes
January-March, January-March, Increase/decrease over the
2016 2015 same period of last year
Total operating income 400,592,922.66 393,941,332.13 1.69%
Net profit attributable to shareholders of
25,527,518.21 22,435,890.92 13.78%
listed companies
Net profit attributable to shareholders of
listed companies after deducting 25,497,476.68 22,373,319.52 13.96%
non-recurring gains/losses
Net cash generated from operating
-89,736,770.51 -128,634,794.42 30.24%
activities
Basic earnings per share 0.07 0.06 16.67%
Diluted earnings per share 0.07 0.06 16.67%
Decrease 0.17percentage
Return on equity 0.96% 1.13%
points
December 31, Increase/decrease over the
March 31, 2016
2015 end of last year
Total assets 4,099,235,264.83 4,082,499,864.42 0.41%
Owner’s equity attributable to
2,568,111,104.17 2,647,609,091.41 -3.00%
shareholders of listed companies
Item of non-recurring gains and losses Amount from beginning of year to the end of report period
Disposal gains and losses of non-current asset 58,965.19
Tax returned/reduced by chance 14.56
Other operating revenue or expense -13,838.03
Income tax effect 9,919.42
Minority shareholders’ gains and losses 5,180.77
Total 30,041.53
2.2 Total number and particulars of the shareholders by the end of the report period
Total shareholders at the end of report period 32,714
Shareholding of top ten shareholders
Number of
Number of
pledged
Total shares with
Name Nature Proportion shares or
number sale
shares
restriction
frozen
Domestic
Dalian Bingshan Group Co., Ltd. non-state-owned legal 22.31% 80,355,683 19,213,921
person
SANYO ELECTRIC CO LTD Foreign legal person 9.72% 35,001,500
National Social Security Fund 107
Others 3.04% 10,946,061
Portfolio
Industrial Seourities Gold Kylin 2
Others 1.75% 6,301,038
Aggregate asset management plan
China industry selected hybrid
Others 1.07% 3,852,364
securities investment fund
Upthrow morgan manufacturing
excellence equity investment Others 0.94% 3,392,766
funds
Vanguard harmony growth hybrid
Others 0.92% 3,314,158
securities investment fund
Lin Zhenming Foreign natural person 0.77% 2,780,000
Industrial international trust Co.,
Ltd Yao Huijin 1 assembled funds Others 0.75% 2,696,915
trust plan
Sun Huiming Domestic natural person 0.68% 2,458,966
Particulars about shares held by the top ten negotiable shareholders not subject to conditional sales
Name of shareholder EORP (shares) Type
Dalian Bingshan Group Co., Ltd. 61,141,762 A
SANYO ELECTRIC CO LTD 35,001,500 B
National Social Security Fund 107 Portfolio 10,946,061 A
Industrial Seourities Gold Kylin 2 Aggregate asset management plan 6,301,038 A
China industry selected hybrid securities investment fund 3,852,364 A
Upthrow morgan manufacturing excellence equity investment funds 3,392,766 A
Vanguard harmony growth hybrid securities investment fund 3,314,158 A
Lin Zhenming 2,780,000 B
Industrial international trust Co., Ltd Yao Huijin 1 assembled funds
2,696,915 A
trust plan
Sun Huiming 2,458,966 B
Dalian Bingshan Group Co., Ltd. had the
association relationship with Sanyo
Notes to the associated relationship and uniform actions of the above Electric Co., Ltd. among the above
shareholders shareholders. Sanyo Electric Co., Ltd.
holds 26.6% of Dalian Bingshan Group
Co., Ltd.'s equity.
§3 Important Matters
3.1 Major changes in main financial items and indexes, and description of the cause
√ Applicable □ Inapplicable
1. Dividends receivable increased significantly compared with the year-beginning, mainly due to the increase
in unexpired dividends receivable in the period.
2. Other receivables increased significantly compared with the year-beginning, mainly due to the increase in
bid bond in the period.
3. Other current assets decreased significantly compared with the year-beginning, mainly due to the decrease
in value added tax and income tax of the accrued trade in allowance that the taxes payable transferred.
4. Employee compensation payable decreased significantly compared with the year-beginning, mainly due to
in the period the payment of provision employee compensation of last period-end.
5. Long term loans increased significantly compared with the year-beginning, due to the increase in special
fund loans of China Development Fund.
6. Financial expenses increased significantly y-o-y, mainly due to the reduction in time deposits and interest
income in the period.
7. Assets impairment loss decreased significantly y-o-y, mainly due to the reduction in long age receivables
and the provision for bad debts in the period.
8. Investment income increased significantly y-o-y, mainly due to the increase in the current profit of
Company's associate company Dalian Fuji Bingshan Vending Machine Co., Ltd.
9. Net cash from operating activities increased significantly y-o-y, mainly due to the increase in cash received
by the current sales of goods.
10. Net cash flow from investing activities reduced significantly y-o-y, mainly due to the increase in the
Company's new plant construction investment.
11. Net cash flow from financing activities increased significantly y-o-y, mainly due to the receiving of
special fund of China Development Fund.
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 the reporting
period or carried to the reporting period
□ Applicable √ Inapplicable
3.4 Precautions on forecasting that by the beginning of year till the end of the next report period, the accumulated
net profit may be turned into loss or change greatly compared with that in the same period of the last year, and
description of the cause
□ Applicable √ Inapplicable
3.5 The securities investment
□ Applicable √ Inapplicable
3.6 Derivative investment
□ Applicable √ Inapplicable
3.7 Table of investigation, communication, interview received
Receiving time Way of receiving Received object type Basic situation index
Jan. 05, 2016 Field investigation Institution http:// www.cninfo.com.cn
Jan.06, 2016 Field investigation Institution http:// www.cninfo.com.cn
Jan. 07, 2016 Field investigation Institution http:// www.cninfo.com.cn
Jan. 18, 2016 Field investigation Institution http:// www.cninfo.com.cn
Jan. 27, 2016 Field investigation Institution http:// www.cninfo.com.cn
Feb.24,2016 Field investigation Institution http:// www.cninfo.com.cn
Mar.31, 2016 Field investigation Institution http:// www.cninfo.com.cn
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
§4 Financial Report (attached)
Not audited.
Board of Directors of Dalian Refrigeration Co., Ltd.
April 22, 2016
BALANCE SHEET
Prepared by Dalian Refrigeration Co., Ltd. March 31, 2016 Unit: RMB Yuan
31-Mar-2016 31-Dec-2015
Assets
Consolidation Parent Company Consolidation Parent Company
Current assets:
Monetary funds 275,613,478.44 213,059,578.00 244,789,824.53 149,314,329.13
Financial assets which are measured by fair value and
which changes are recorded in current profit and loss
Derivative financial assets
Notes receivable 74,214,666.95 36,259,322.34 71,699,517.68 40,690,578.22
Accounts receivable 733,948,070.22 207,026,275.85 671,423,836.87 196,691,940.87
Accounts in advance 52,776,569.86 23,025,241.72 44,218,887.91 22,523,974.19
Interest receivables
Dividend receivable 6,152,400.00 6,152,400.00 44,600.00
Other receivables 36,893,467.46 57,617,976.25 22,755,328.21 43,691,612.45
Inventories 272,937,551.24 125,579,251.32 259,099,149.47 122,212,395.56
Assets held for sale
Non-current asset due within one year
Other current assets 5,996,516.21 4,280,669.04 16,478,711.86 7,918,692.08
Total current assets 1,458,532,720.38 673,000,714.52 1,330,509,856.53 583,043,522.50
Non-current assets:
Finance asset held available for sales 607,160,879.04 605,845,736.54 733,275,249.09 731,960,106.59
Held-to-maturity investment
Long-term account receivable
Long-term equity investment 1,239,173,089.34 1,479,764,120.89 1,220,367,767.73 1,460,958,799.28
Investment property 24,344,752.75 24,344,752.75 24,497,584.00 24,497,584.00
Fixed assets 440,250,464.09 240,475,308.75 449,907,430.32 246,435,789.69
Construction in progress 144,934,419.33 117,062,051.41 137,025,384.58 109,277,419.44
Engineering material
Disposal of fixed asset
Productive biological asset
Oil and gas asset
Intangible assets 158,079,748.14 90,127,903.05 158,417,802.57 90,015,524.05
Expense on Research and Development
Goodwill 1,440,347.92 1,440,347.92
Long-term expenses to be apportioned 5,457,181.44 4,641,215.46 5,857,504.95 5,033,031.30
Deferred income tax asset 19,861,662.40 7,162,850.89 21,200,936.73 8,675,787.57
Other non-current asset
Total non-current asset 2,640,702,544.45 2,569,423,939.74 2,751,990,007.89 2,676,854,041.92
Total assets 4,099,235,264.83 3,242,424,654.26 4,082,499,864.42 3,259,897,564.42
Legal Representative: Ji Zhijian Chief Financial Official: Ma Yun Person in Charge of Accounting Organization: Mao Chunhua
BALANCE SHEET (CONTINUED)
Prepared by Dalian Refrigeration Co., Ltd. March 31, 2016 Unit: RMB Yuan
31-Mar-2016 31-Dec-2015
Liabilities and shareholders’ equity
Consolidation Parent Company Consolidation Parent Company
Current liabilities:
Short-term loans 82,600,000.00 27,600,000.00 82,600,000.00 27,600,000.00
Derivative financial liabilities
Notes payable 171,461,794.37 130,238,362.56 234,189,011.72 177,683,261.74
Accounts payable 711,343,116.89 278,164,128.60 660,398,503.26 293,389,981.61
Accounts received in advance 66,712,952.53 24,257,232.84 70,458,014.46 25,768,511.15
Wage payable 23,582,087.36 885,669.48 51,857,345.29 11,208,398.45
Taxes payable 16,331,694.58 1,248,647.33 15,701,578.36 873,038.30
Interest payable
Dividend payable 533,156.00 533,156.00 533,156.00 533,156.00
Other accounts payable 98,591,355.70 51,166,040.56 99,890,290.15 55,807,703.77
Liabilities held for sale
Non-current liabilities due within one year
Other current liabilities
Total current liabilities 1,171,156,157.43 514,093,237.37 1,215,627,899.24 592,864,051.02
Non-current liabilities:
Long-term loans 160,000,000.00 160,000,000.00
Bonds payable
Long-term account payable
Long-term wage payable
Special accounts payable
Projected liabilities
Deferred income 48,961,879.00 3,566,378.00 49,378,296.00 3,704,296.00
Deferred income tax liabilities 84,709,873.55 84,709,873.55 103,627,029.06 103,627,029.06
Other non-current liabilities
Total non-current liabilities 293,671,752.55 248,276,251.55 153,005,325.06 107,331,325.06
Total liabilities 1,464,827,909.98 762,369,488.92 1,368,633,224.30 700,195,376.08
Shareholders’ equity
Share capital 360,164,975.00 360,164,975.00 360,164,975.00 360,164,975.00
Other equity instruments
Capital public reserve 632,436,701.04 642,936,492.12 630,264,991.95 640,764,783.03
Specialized reserve 39,503,800.00 39,503,800.00 39,503,800.00 39,503,800.00
Other comprehensive income 482,790,903.51 481,561,975.89 589,988,118.05 588,759,190.43
Special preparation
Surplus public reserve 580,769,740.16 580,769,740.16 580,769,740.16 580,769,740.16
Retained profit 551,452,584.46 454,125,782.17 525,925,066.25 428,747,299.72
Translation of foreign currency capital
Total owner’s equity attributable to parent company 2,568,111,104.17 2,480,055,165.34 2,647,609,091.41 2,559,702,188.34
Minority interests 66,296,250.68 66,257,548.71
