2025-04-23-深交所-冰山B_2024年年度报告（英文版）_195页_2mb

2024 Annual Report Summary of Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.

Core Content Overview

Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. (hereinafter referred to as the Company) released its 2024 Annual Report in April 2025. The report provides an in-depth analysis of the company's performance, industry position, and strategic direction during the reporting period, which spans from January 1, 2024, to December 31, 2024. The report also outlines key financial data, corporate governance, and future development prospects.

Main Financial Indicators

The following are the main financial indicators for the Company in 2024:

The report indicates that the Company's net profit significantly increased in 2024, but the net profit after non-recurring items remained positive. The operating revenue declined by 5.91% compared to 2023, while the net cash flow from operations was positive in 2024.

Key Business Segments

1. Industrial Refrigeration and Heating Business

• A core area reflecting the Company's technological strength.
• The Company has reached the technical level of major international competitors and improved energy efficiency through heat utilization.
• Signed multiple high-standard projects in sectors like petroleum refining, fine chemicals, and new materials.
• The brand influence continues to grow.

2. Commercial Refrigeration Business

• The Company leads in the development of green intelligent cold chain systems from the first kilometer to the last 100 meters.
• Offers a range of patented products, including pre-cooling equipment, quick-freezing systems, and ammonia and CO₂ refrigeration solutions.
• Successfully signed key projects such as Linshui County Cold Chain Logistics Park, Guangzhou Yihai Kerry, and Beijing's first launch project.

3. Air Conditioning and Environment Business

• The Company has developed a series of innovative products for commercial, central, and special air conditioning.
• Focuses on providing targeted solutions for sectors like hospitals, electronic factories, and rail transit.
• The subsidiary, Bingshan Air Conditioning, developed ultra-low temperature air source heat pumps with a heating capacity of -40°C.

4. Engineering and Service Business

• A key business area with comprehensive solutions from consulting to installation and maintenance.
• Signed multiple key projects, including the China National Pharmaceutical Group Pharmaceutical Logistics Project and the Shanghai Lingang Yaoxue Ice and Snow World Indoor Ice and Snow Venue.
• Offers services such as project general contracting and financial leasing.

5. New Business Fields

• The Company made progress in new businesses like energy storage thermal management and CCUS.
• Orders increased significantly in these areas.
• Innovated in energy conservation and environmental protection, contributing to the national "dual carbon" strategy.

Core Competence and Innovation

• The Company has a mature and integrated refrigeration and heating industrial chain, offering design, manufacturing, installation, and maintenance services.
• It has developed a series of energy-saving, environmentally friendly, efficient, and intelligent thermal technologies.
• The Company's key technologies have won awards, including the Liaoning Provincial Science and Technology Progress Award.
• The "Multi Energy Complementary Series Technology and Equipment for Achieving Zero Carbon Goals in the Meat Industry" reached international advanced levels.

Risks and Countermeasures

• The report highlights the risk of increasing market competition and high accounts receivable.
• The Company's management has identified these risks and outlined countermeasures, such as optimizing business processes and focusing on high-value markets.

Corporate Governance and Compliance

• The report was prepared and disclosed on the Shenzhen Stock Exchange.
• The Company has engaged ShineWing CPAs (Special General Partnership) for its audit.
• The report was published in China Securities Daily and Securities Times.

Contact and Information

• Liaison Person: Mr. Song Wenbao, Ms. Du Yu
• Tel: 0086-411-87968130
• Fax: 0086-411-87968125
• Email: 000530@bingshan.com
• Website: www.bingshan.cn

Conclusion

The report emphasizes the Company's strong technological foundation, innovation-driven growth, and strategic focus on the refrigeration and heating industry. Despite challenges such as market competition and high accounts receivable, the Company has made significant progress in core and new business areas, contributing to national energy conservation and environmental protection goals. The Company's future development strategy includes continued differentiation, innovation, and expansion into new markets.