Stock Code: 000530; 200530 Short Form of the Stock: Bingshan; Bingshan B No:2023-027
Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.QUARTERLY REPORT FOR THIRD QUARTER, 2023
The directors and the Board of Directors of Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.hereby confirm that there are no any important omissions, fictitious statements or serious misleading carried inthis report.
Important Notes
1. 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 no any important omissions, fictitious statements or serious misleading carried inthis report, and shall take all responsibilities, individual and/or joint, for the reality, accuracy and completenessof the whole contents.
2. Chairman of the Board of Directors of the Company Mr. Ji Zhijian, Financial Majordomo Mrs. Wang Jinxiuand the head of Accounting Department Mr. Li Sheng hereby confirm that the financial report of the quarterlyreport is true and complete.
3. The Company’s quarterly financial report has not been audited.
§1 Major accounting data and changes of shareholders
1.1 Major accounting data and financial indexes
Is there any traceable adjustment to the financial statements for the previous report period?
□ Yes √ No
| 2023.7-9 | 2022.7-9 | Increase/decrease over 2022.7-9 | 2023.1-9 | 2022.1-9 | Increase/decrease over 2022.1-9 | |
| Total operating income | 1,274,571,520.64 | 752,258,640.60 | 69.43% | 3,602,108,233.69 | 2,044,117,549.31 | 76.22% |
| Net profit attributable to parent company | 14,469,128.62 | -21,540,127.71 | 167.17% | 71,883,527.84 | 8,028,223.81 | 795.39% |
| Net profit attributable to parent company after deducting non-recurring gains/losses | 1,479,838.85 | -23,177,485.56 | 106.38% | 46,938,009.37 | -12,472,367.21 | 476.34% |
| Net cash generated from operating activities | — | — | — | -166,271,484.31 | -294,901,573.59 | 43.62% |
| Basic earnings per share | 0.02 | -0.03 | 166.67% | 0.09 | 0.01 | 800.00% |
| Diluted earnings per share | 0.02 | -0.03 | 166.67% | 0.09 | 0.01 | 800.00% |
| Weighted average return on net asset yield | 0.47% | -0.72% | Increase1.19 percentage points | 2.34% | 0.27% | Increase 2.07 percentage points |
| 2023.9.30 | 2022.12.31 | Increase/decrease over 2022.12.31 | ||||
| Total assets | 8,248,498,357.51 | 7,601,935,329.60 | 8.51% | |||
| Shareholder’s equity attributable to parent company | 3,069,642,234.61 | 3,006,190,831.84 | 2.11% | |||
In the first three quarters of 2023, he Company's net profit increased significantly year-on-year, mainly due to theCompany's focus on hot and cold business, deep cultivation of market segments, solid improvement of corecompetitiveness, increased revenue and profit from increased orders, and the Company completed major assetrestructuring in November 2022, resulting in more profit contributions from new subsidiaries.
| Item of non-recurring gains and losses | Amount of this report period | Amount from beginning of year to the end of report period |
| Profit and loss from disposal of non-current assets | 681,888.50 | 188,194.83 |
| Government subsidies which were included in the current profits and losses | 1,690,071.81 | 5,953,349.59 |
| Gains and losses on debt restructuring | 144,767.32 | 1,120,121.82 |
| Profit or loss arising from contingencies unrelated to the normal operation of the company | 3,290,560.80 | |
| When the investment cost of a subsidiary, associate or joint venture is less than that of the investment, an enterprise shall enjoy the income generated by the fair value of the identifiable net assets of the invested entity | 6,000,504.40 | 10,364,507.60 |
| Allowance for impairment reversal of receivables tested separately for impairment | 1,037,705.78 | |
| Other non-operating incomes and expenses except the above mentioned | 6,606,547.35 | 7,253,231.17 |
| Income tax effects | 2,139,176.82 | 4,160,080.75 |
| Minority equity interests effects (after tax) | -4,687.21 | 102,072.37 |
| Total | 12,989,289.77 | 24,945,518.47 |
1.3 Major changes in main financial items and indexes, and description of the cause
√ Applicable □ Inapplicable
(1). Receivables financing increased 345.04% compared with the beginning of the year, mainly due to the highcredit bank has not expired acceptance, Sonyo compressor and Sonyo refrigeration included in the scope of themerger.
(2). Other receivables decreased 40.98% compared with the beginning of the year, mainly due to recover bid securityand imprest
(3). Contract assets increased 35.58% compared with the beginning of the year, mainly due the increase andconsolidation of Sonyo refrigeration, as well as the increase in operating income, the increase in outstanding qualityguarantees and the increase in revenue to be settled according to the time period method.
(4). Other current assets increased 106.86% compared with the beginning of the year, mainly due to the increase inthe pre-paid VAT of Sonyo refrigeration and the increase in the input tax to be deducted from the VAT of thecombined unit.
(5). Notes payable increased 34.62% compared with the beginning of the year, mainly due to affected by SonyoCompressor and Sonyo refrigeration.
(6). Non-current liabilities due within one year increased 62.16% compared with the beginning of the year, mainlydue to an increase in long-term borrowing due within a year.
(7). Other current liabilities increased 66.66% compared with the beginning of the year, mainly due to the increasein endorsed bills and sales orders, pending the impact of the resale tax increase.
(8). Lease liability increased 54.86% compared with the beginning of the year, mainly due to Sonyo Compressorand Sonyo refrigeration and other subsidiaries merged into the impact, as well as the impact of financial leasing.
(9). Long-term account payable decreased 45.28% compared with the beginning of the year, mainly due to thereduced impact of factoring commitments.
(10). Anticipation liabilities decreased 65.32% compared with the beginning of the year, mainly due to Sonyocompressor a project of first instance judgment loss reduction.
(11). Operating income increased 76.22% on a year-on-year basis, mainly due to the increase in orders, and theincrease in Sonyo compressor, Sonyo refrigeration system, and Sonyo refrigeration included in the consolidationscope.
(12). Selling and distribution expenses increased 82.87% on a year-on-year basis, mainly due to an increase in salesorders, a decrease in business t rips during the same period, and an increase in Sonyo Compressor, Sonyorefrigeration system, and Sonyo refrigeration.
(13). Administrative expenses increased 58.77% on a year-on-year basis, mainly due to an increase in SonyoCompressors, Sonyo refrigeration system, and Sonyo refrigeration.
(14). R&D expenses increased 119.80% on a year-on-year basis, Mainly due to the increase in research anddevelopment investment and Sonyo compressor, Sonyo refrigeration system, and Sonyo refrigeration into the scopeof the merger increased.
(15). Financial expense increased 199.49% on a year-on-year basis, Mainly due to Sonyo compressor, Sonyorefrigeration system, and Sonyo refrigeration included in the scope of the merger increased and merger loan interestincreased.
(16). Gain from change in fair value increased significantly on a year-on-year basis, mainly due to positive changesin Guotai Junan stock price.
(17). Credit impairment loss increased203.16% on a year-on-year basis, mainly because Sonyo compressor, Sonyorefrigeration system, and Sonyo refrigeration into the scope of consolidation.
(18). Non-business income increased significantly on a year-on-year basis, mainly due to the influence of Sonyocompressor.
(19). Net cash flows arising from operating activities increased 128.63 million yuan on a year-on-year basis, mainlydue to the increase in sales orders and the improvement in payment collection.
(20). Net cash flows arising from investing activities decreased 269.97 million yuan on a year-on-year basis, mainlydue to the investment income received in the same period last year more cash and the current period Sonyocompressor transferred to the subsidiary fixed assets investment impact.
(21).Net cash flows arising from financing activities increased 19.56 million yuan on a year-on-year basis, mainlydue to an increase in M&A loans..
2. Shareholders' information
2.1 Total number and particulars of the shareholders by the end of the report period
| Total number of shareholders in the reporting period | 50,299 | Total number of shareholders as of the last month before disclosure of the annual report | 0 | ||||||
| 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 | ||||||
| Sanyo Electric Co., Ltd. | Overseas legal person | 8.72% | 73,503,150 | ||||||
| China Merchants Bank Co., Ltd.-Dongfang HongRuize three years regular open flexible allocation of hybrid securities investment funds | Others | 1.90% | 15,980,700 | ||||||
| Zhang Sufen | Domestic natural person | 1.30% | 10,990,000 | ||||||
| We Assets - Minsheng Bank - We Assets - Shengshi Select No. 2 Collection Asset Management Product (Phase 2) | Others | 1.12% | 9,431,200 | ||||||
| Chen Xianlai | Domestic natural person | 0.85% | 7,180,000 | ||||||
| Lin Zhenming | Foreign natural person | 0.80% | 6,730,000 | ||||||
| China Merchants Bank Co., LTD-Dongfang HongRui Man Shanghai, Hong Kong and Shenzhen Flexible Allocation Hybrid Securities Investment Fund (LOF) | Others | 0.71% | 5,968,250 | ||||||
| Xue Hong | Domestic natural person | 0.43% | 3,620,000 | ||||||
| Dalian industrial development investment Co., Ltd. | Domestic non-state-owned legal person | 0.40% | 3,406,725 | ||||||
| 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 | |||||||
| China Merchants Bank Co., Ltd.-Dongfang HongRuize three years regular open flexible allocation of hybrid securities investment funds | 15,980,700 | RMB denominated ordinary shares | |||||||
| Zhang Sufen | 10,990,000 | RMB denominated ordinary shares | |||||||
| We Assets - Minsheng Bank - We Assets - Shengshi Select No. 2 Collection Asset Management Product (Phase 2) | 9,431,200 | RMB denominated ordinary shares | |||||||
| Chen Xianlai | 7,180,000 | RMB denominated ordinary shares | |||||||
| Lin Zhenming | 6,730,000 | Domestically listed foreign shares |
| China Merchants Bank Co., LTD-Dongfang HongRui Man Shanghai, Hong Kong and Shenzhen Flexible Allocation Hybrid Securities Investment Fund (LOF) | 5,968,250 | RMB denominated ordinary shares |
| Xue Hong | 3,620,000 | Domestically listed foreign shares |
| Dalian industrial development investment Co., Ltd. | 3,406,725 | RMB denominated ordinary shares |
| 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. | |
At the end of the report period, the total number of shareholders of the Company was 50,299, including 43,121 A-share shareholders and 7,178 B-share shareholders.
2.2 Information on the total number of preferred shareholders and the shares held by top ten preferredshareholders as of the end of the reporting period
□ Yes √ No
§3 Other important Matters
□ Yes √ No
§4 Financial Statements
CONSOLIDATION BALANCE SHEET
Prepared by Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. September 30, 2023 Unit: RMB Yuan
| Items | 30-Sep-2023 | 1-Jan-2023 |
| Current assets: |
Monetary funds
| Monetary funds | 810,073,486.50 | 1,006,165,899.18 |
Financial assets which are measured by fair value and which changes arerecorded in current profit and loss
| Financial assets which are measured by fair value and which changes are recorded in current profit and loss | ||
| Derivative financial assets |
Transaction financial assets
| Transaction financial assets |
Notes receivable
| Notes receivable | 534,917,754.03 | 505,945,261.18 |
| Accounts receivable | 1,547,419,861.13 | 1,409,978,442.95 |
Receivables financing
| Receivables financing | 261,653,329.35 | 58,792,792.70 |
| Accounts paid in advance | 196,296,251.82 | 171,991,468.12 |
Other receivables
| Other receivables | 30,330,908.72 | 51,394,474.24 |
Interest receivables
| Interest receivables | ||
| Dividend receivable | 14,495.00 |
Inventories
| Inventories | 1,614,785,351.28 | 1,395,344,780.24 |
| Contract assets | 306,123,195.32 | 225,790,875.78 |
Assets held for sale
| Assets held for sale |
Non-current asset due within one year
| Non-current asset due within one year | 12,571,309.30 | 15,715,631.52 |
| Other current assets | 69,298,415.43 | 33,499,577.60 |
Total current assets
| Total current assets | 5,383,469,862.88 | 4,874,619,203.51 |
| Non-current assets: |
Finance asset held available for sales
| Finance asset held available for sales |
Held-to-maturity investment
| Held-to-maturity investment | ||
| Long-term account receivable | 5,162,458.90 | 5,162,458.90 |
Long-term equity investment
| Long-term equity investment | 557,185,801.07 | 562,987,771.94 |
| Other Non-current financial assets | 160,315,368.91 | 149,950,861.31 |
Investment property
| Investment property | 112,914,295.13 | 115,332,918.20 |
Fixed assets
| Fixed assets | 1,298,540,800.22 | 1,229,029,368.93 |
| Construction in progress | 123,215,966.04 | 115,577,902.54 |
Right of use assets
| Right of use assets | 15,298,911.87 | 30,941,662.26 |
| Engineering material |
Disposal of fixed asset
| Disposal of fixed asset |
Productive biological asset
| Productive biological asset | ||
| Oil and gas asset |
Intangible assets
| Intangible assets | 213,374,561.69 | 168,076,720.07 |
| Expense on Research and Development |
Goodwill
| Goodwill | 270,800,976.03 | 248,345,508.41 |
Long-term expenses to be apportioned
| Long-term expenses to be apportioned | 5,819,165.04 | 6,486,566.92 |
| Deferred income tax asset | 102,400,189.73 | 95,424,386.61 |
Other non-current asset
| Other non-current asset | ||
| Total non-current asset | 2,865,028,494.63 | 2,727,316,126.09 |
Total assets
| Total assets | 8,248,498,357.51 | 7,601,935,329.60 |
Current liabilities:
| Current liabilities: |
| Short-term loans | 288,908,174.90 | 274,052,990.15 |
Financial liabilities which are measured by fair value and which changes arerecorded in current profit and loss
| Financial liabilities which are measured by fair value and which changes are recorded in current profit and loss | ||
| Derivative financial liabilities |
Transaction financial liabilities
| Transaction financial liabilities | ||
| Notes payable | 833,206,601.11 | 618,944,384.85 |
Accounts payable
| Accounts payable | 1,727,626,102.95 | 1,586,098,060.59 |
Accounts received in advance
| Accounts received in advance | ||
| Contract liabilities | 714,023,045.39 | 647,645,820.57 |
Wage payable
| Wage payable | 127,928,244.84 | 118,216,683.23 |
| Taxes payable | 20,927,650.75 | 33,691,523.62 |
Other accounts payable
| Other accounts payable | 51,443,359.88 | 67,054,250.25 |
Interest payable
| Interest payable | ||
| Dividend payable | 533,156.00 | 533,156.00 |
Liabilities held for sale
| Liabilities held for sale |
Non-current liabilities due within one year
| Non-current liabilities due within one year | 102,329,555.20 | 63,105,954.56 |
| Other current liabilities | 310,545,621.84 | 204,650,003.24 |
Total current liabilities
| Total current liabilities | 4,176,938,356.86 | 3,613,459,671.06 |
| Non-current liabilities: |
Long-term loans
| Long-term loans | 739,400,000.00 | 715,100,000.00 |
Bonds payable
| Bonds payable | ||
| Preferred stock |
Perpetual bond
| Perpetual bond | ||
| Lease liability | 17,392,057.69 | 11,230,532.05 |
Long-term account payable
| Long-term account payable | 16,968,459.97 | 31,009,644.16 |
Long-term wage payable
| Long-term wage payable | ||
| Special Payable |
Anticipation liabilities
| Anticipation liabilities | 6,521,234.94 | 18,805,967.43 |
| Deferred income | 98,155,169.74 | 99,754,346.39 |
Deferred income tax liabilities
| Deferred income tax liabilities | 65,501,170.25 | 52,306,365.68 |
Other non-current liabilities
| Other non-current liabilities | ||
| Total non-current liabilities | 943,938,092.59 | 928,206,855.71 |
Total liabilities
| Total liabilities | 5,120,876,449.45 | 4,541,666,526.77 |
| Shareholders’ equity |
Share capital
| Share capital | 843,212,507.00 | 843,212,507.00 |
Other equity instruments
| Other equity instruments | ||
| Preferred stock |
Perpetual bond
| Perpetual bond | ||
| Capital public reserve | 717,097,098.38 | 717,097,098.38 |
Less: Treasury stock
| Less: Treasury stock |
Other comprehensive income
| Other comprehensive income | 2,208,669.73 | 2,208,669.73 |
| Special preparation |
Surplus public reserve
| Surplus public reserve | 825,226,634.15 | 825,226,634.15 |
| Generic risk reserve |
Retained profit
| Retained profit | 681,897,325.35 | 618,445,922.58 |
Total owner’s equity attributable to parent company
| Total owner’s equity attributable to parent company | 3,069,642,234.61 | 3,006,190,831.84 |
| Minority interests | 57,979,673.45 | 54,077,970.99 |
Total owner’s equity
| Total owner’s equity | 3,127,621,908.06 | 3,060,268,802.83 |
| Total liabilities and shareholder’s equity | 8,248,498,357.51 | 7,601,935,329.60 |
Legal Representative: Ji Zhijian Chief Financial Official: Wang Jinxiu Person in Charge of Accounting Organization: Li Sheng
CONSOLIDATION INCOME STATEMENT
Prepared by Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. January - September, 2023 Unit: RMB Yuan
| Items | January-September, 2023 | January- September, 2022 |
| I. Total sales | 3,602,108,233.69 | 2,044,117,549.31 |
II. Total operating cost
| II. Total operating cost | 3,500,188,858.95 | 2,057,243,064.66 |
Including: Operating cost
| Including: Operating cost | 2,992,350,493.45 | 1,779,802,998.39 |
| Taxes and associate charges | 25,820,709.54 | 15,646,694.55 |
Selling and distribution expenses
| Selling and distribution expenses | 168,639,007.67 | 92,218,838.90 |
| Administrative expenses | 172,345,836.79 | 108,550,680.84 |
R&D expenses
| R&D expenses | 115,096,900.39 | 52,363,696.66 |
Financial expense
| Financial expense | 25,935,911.11 | 8,660,155.32 |
| Including: interest expense | 29,152,253.80 | 11,655,789.18 |
interest income
| interest income | 8,078,792.66 | 2,768,663.68 |
| Add: Other income | 2,206,719.66 | 3,357,636.01 |
Gain/(loss) from investment
| Gain/(loss) from investment | 3,666,199.84 | 84,086,155.71 |
Including: income from investment onaffiliated enterprise and jointly enterprise
| Including: income from investment on affiliated enterprise and jointly enterprise | -3,158,300.72 | -1,089,360.88 |
| Gain/(loss) from change in fair value (loss as “-“) | 10,364,507.60 | -46,118,233.76 |
Credit impairment loss (loss as “-“)
| Credit impairment loss (loss as “-“) | -42,792,710.31 | -14,115,428.91 |
| Assets impairment loss (loss as “-“) | 2,110,878.83 | -755,169.48 |
Gain/(loss) from asset disposal (loss as “-“)
| Gain/(loss) from asset disposal (loss as “-“) | 1,002,383.35 | 117,689.42 |
III. Operating profit
| III. Operating profit | 78,477,353.71 | 13,447,133.64 |
| Add: non-business income | 13,080,515.09 | 3,648,490.08 |
Less: non-business expense
| Less: non-business expense | 3,204,263.53 | 571,911.62 |
| IV. Total profit | 88,353,605.27 | 16,523,712.10 |
Less: Income tax
| Less: Income tax | 12,568,374.96 | 5,635,364.87 |
V. Net profit
| V. Net profit | 75,785,230.31 | 10,888,347.23 |
| (I) Net profit from continuous operation | 75,785,230.31 | 10,888,347.23 |
(II)Net profit from discontinuing operation
| (II)Net profit from discontinuing operation | ||
| Net profit attributable to parent company | 71,883,527.84 | 8,028,223.81 |
Minority shareholders’gains and losses
| Minority shareholders’ gains and losses | 3,901,702.47 | 2,860,123.42 |
VI. After-tax net amount of other comprehensiveincomes
| VI. After-tax net amount of other comprehensive incomes |
After-tax net amount of other comprehensive incomesattributable to owners of the Company
| After-tax net amount of other comprehensive incomes attributable to owners of the Company | ||
| (I) Other comprehensive incomes that will not be reclassified into gains and losses |
1. Changes in net liabilities or assets with a defined
benefit plan upon re-measurement
| 1. Changes in net liabilities or assets with a defined benefit plan upon re-measurement | ||
| 2. Enjoyable shares in other comprehensive incomes in invests that cannot be reclassified into gains and losses under the equity method |
(II) Other comprehensive incomes that will bereclassified into gains and losses
| (II) Other comprehensive incomes that will be reclassified into gains and losses | ||
| 1. Enjoyable shares in other comprehensive incomes in invests that will be reclassified into gains and losses under the equity method | ||
| 2. Gains and losses on fair value changes of available-for-sale financial assets |
3. Gains and losses on reclassifying held-to-maturity
investments into available-for-sale financial assets
| 3. Gains and losses on reclassifying held-to-maturity investments into available-for-sale financial assets |
4. Effective hedging gains and losses on cash flows
| 4. Effective hedging gains and losses on cash flows |
| 5. Foreign-currency financial statement translation difference |
、Others
| 6、Others | ||
| …… |
After-tax net amount of other comprehensive incomesattributable to minority shareholders
| After-tax net amount of other comprehensive incomes attributable to minority shareholders |
VII Total comprehensive income
| VII Total comprehensive income | 75,785,230.31 | 10,888,347.23 |
| Total comprehensive income attributable to parent company | 71,883,527.84 | 8,028,223.81 |
Total comprehensive income attributable to minorityshareholders
| Total comprehensive income attributable to minority shareholders | 3,901,702.47 | 2,860,123.42 |
VIII. Earnings per share
| VIII. Earnings per share | ||
| (I) basic earnings per share | 0.09 | 0.01 |
(II) diluted earnings per share
| (II) diluted earnings per share | 0.09 | 0.01 |
Legal Representative: Ji Zhijian Chief Financial Official: Wang Jinxiu Person in Charge of Accounting Organization: Li Sheng
CONSOLIDATION CASH FLOW STATEMENT
Prepared by Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. January - September, 2023 Unit: RMB Yuan
| Items | January-September, 2023 | January - September, 2022 |
| I. Cash flows arising from operating activities: |
Cash received from selling commodities and providinglabor services
| Cash received from selling commodities and providing labor services | 3,229,896,254.25 | 1,829,040,062.90 |
Write-back of tax received
| Write-back of tax received | 21,889,014.28 | 19,518,381.48 |
| Other cash received concerning operating activities | 78,453,591.90 | 54,399,279.15 |
Subtotal of cash inflow arising from operating activities
| Subtotal of cash inflow arising from operating activities | 3,330,238,860.43 | 1,902,957,723.53 |
| Cash paid for purchasing commodities and receiving labor service | 2,602,049,135.49 | 1,744,352,580.69 |
Cash paid to/for staff and workers
| Cash paid to/for staff and workers | 537,303,228.95 | 268,660,102.51 |
Taxes paid
| Taxes paid | 153,454,073.42 | 59,392,595.29 |
| Other cash paid concerning operating activities | 203,703,906.88 | 125,454,018.63 |
Subtotal of cash outflow arising from operating
activities
| Subtotal of cash outflow arising from operating activities | 3,496,510,344.74 | 2,197,859,297.12 |
Net cash flows arising from operating activities
| Net cash flows arising from operating activities | -166,271,484.31 | -294,901,573.59 |
| II. Cash flows arising from investing activities: |
Cash received from recovering investment
| Cash received from recovering investment | 139,133,456.91 | |
| Cash received from investment income | 10,144,138.79 | 92,354,809.76 |
Net cash received from disposal of fixed, intangible andother long-term assets
| Net cash received from disposal of fixed, intangible and other long-term assets | 1,493,813.50 | 644,321.28 |
Net cash received from disposal of subsidiaries andother units
| Net cash received from disposal of subsidiaries and other units | 5,605,792.62 | |
| Other cash received concerning investing activities |
Subtotal of cash inflow from investing activities
| Subtotal of cash inflow from investing activities | 11,637,952.29 | 237,738,380.57 |
Cash paid for purchasing fixed, intangible and otherlong-term assets
| Cash paid for purchasing fixed, intangible and other long-term assets | 49,050,141.37 | 17,235,374.55 |
| Cash paid for investment |
Net cash paid for achievement of subsidiaries and otherbusiness units
| Net cash paid for achievement of subsidiaries and other business units | 12,056,951.02 |
Other cash paid concerning investing activities
| Other cash paid concerning investing activities | ||
| Subtotal of cash outflow from investing activities | 61,107,092.39 | 17,235,374.55 |
Net cash flows arising from investing activities
| Net cash flows arising from investing activities | -49,469,140.10 | 220,503,006.02 |
| III. Cash flows arising from financing activities |
Cash received from absorbing investment
| Cash received from absorbing investment |
Including: Cash received from absorbing minorityshareholders' equity investment by subsidiaries
| Including: Cash received from absorbing minority shareholders' equity investment by subsidiaries | ||
| Cash received from loans | 355,908,174.90 | 247,850,000.00 |
Cash received from issuing bonds
| Cash received from issuing bonds |
Other cash received concerning financing activities
| Other cash received concerning financing activities | 6,600,000.00 | 96,398,036.29 |
| Subtotal of cash inflow from financing activities | 362,508,174.90 | 344,248,036.29 |
Cash paid for settling debts
| Cash paid for settling debts | 266,276,141.98 | 237,000,000.00 |
| Cash paid for dividend and profit distributing or interest paying | 32,167,304.24 | 25,307,407.67 |
Including: dividends or profit paid by subsidiaries tominority shareholders
| Including: dividends or profit paid by subsidiaries to minority shareholders |
Other cash paid concerning financing activities
| Other cash paid concerning financing activities | 38,899,306.16 | 76,335,398.74 |
| Subtotal of cash outflow from financing activities | 337,342,752.38 | 338,642,806.41 |
Net cash flows arising from financing activities
| Net cash flows arising from financing activities | 25,165,422.52 | 5,605,229.88 |
IV. Influence on cash due to fluctuation in exchange rate
| IV. Influence on cash due to fluctuation in exchange rate | -900,644.83 | 2,465,826.18 |
| V. Net increase of cash and cash equivalents | -191,475,846.72 | -66,327,511.51 |
Add: Balance of cash and cash equivalents at the period-begin
| Add: Balance of cash and cash equivalents at the period -begin | 921,663,803.17 | 438,969,337.87 |
| VI. Balance of cash and cash equivalents at the period–end | 730,187,956.45 | 372,641,826.36 |
Legal Representative: Ji Zhijian Chief Financial Official: Wang Jinxiu Person in Charge of Accounting Organization: Li Sheng
Board of Directors of Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.October 27, 2023