冰山B：2025年年度报告（英文版）

2025AnnualReport April,2026 Section1 ImportantNotice,TableofContents,andDefinitions ThedirectorsandtheBoardofDirectorsandSeniorstaffmembersofBingshanRefrigeration&HeatTransferTechnologiesCo.,Ltd.(hereinafterreferredtoastheCompany)hereby confirm that there are not any important omissions,fictitiousstatementsorseriousmisleadingcarriedinthisreport,andshalltakeallresponsibilities,individual and/or joint,for the reality,accuracy andcompletenessofthewholecontents. ChairmanoftheBoardofDirectorsoftheCompanyMr.JiZhijian,FinancialMajordomoMrs.WangJinxiuandtheheadofAccountingDepartmentMrs.WuBinherebyconfirmthatthefinancialreportoftheannualreportistrueandcomplete. AllthedirectorshaveattendedthisBoardmeetingoftheCompany. Thereis no significant risk having adverse influence on attainment of theCompany'sfuturedevelopmentstrategyandbusinesstargets.Theparagraph"TheprospectoftheCompany'sfuturedevelopment"inSection3ofthisAnnualReportdescribesmajorriskstheCompanymaybeconfrontedwith,includingtheriskofIncreasingmarketcompetitionrisk,andtheAccountsreceivableisonthehighside.SeetherelatedsectionsforthecountermeasurestobetakenbytheCompany. TheprofitdistributionproposalreviewedandadoptedatthisBoardmeetingoftheCompanyis:Basedonthetotalcapitalstockof843,212,507shares,thedividendofRMB0.5incash(includingtax)willbedistributedforevery10shares;TheCompanywillnottransferthecapitalreservetoincreasecapitalstock. ThisreportiswrittenrespectivelyinChineseandinEnglish.Intheeventofanydiscrepancybetweenthetwoabove-mentioned versions,theChineseversionshallprevail. CONTENTS Section1ImportantNotice,TableofContents,andDefinitions................................................................................2Section2AbouttheCompanyandMainFinancialIndicators....................................................................................6Section3Managementdiscussionandanalysis..........................................................................................................9Section4CorporategovernanceEnvironmentalandSocialResponsibility...........................................................19Section5Importantitems...........................................................................................................................................27Section6ChangeinShareCapitalandShareholders'Information……………………………………...……......30Section7InformationonCorporatebonds................................................................................................................33Section8FinancialReport.........................................................................................................................................34 ReferenceDocuments Theaccountingstatementsbearingthesignaturesandsealsofthelegalrepresentative,thefinancialmajordomoandtheaccountantsincharge. 2.TheoriginalcopiesofalltheCompany'sdocumentsandtheoriginalcopiesofthebulletinspublishedonthenewspapersdesignatedbytheChinaSecuritiesRegulatoryCommissioninthereportperiod. 3.Timeforreference:fromMondaytoFriday8:00-11:30(am)1:00-4:30(pm)Liaisonpersons:Mr.SongWenbao,MsDuYu Tel:0086-411-87968130 Fax:0086-411-87968125 Definitions Section2AbouttheCompanyandMainFinancialIndicators Companyinformation II.Contactpersonsandinformation III.Informationdisclosureandplaceofpreparationforinquiry V.Otherrelatedinformation AccountingfirmengagedbytheCompanyNameofaccountingfirmShineWingCPAs(SpecialGeneralPartnership) SponsortheCompanyappointedforperformanceoftheconsistentsupervisiondutyinthereportingperiod□Applicable√NotapplicableFinancialconsultanttheCompanyappointedforperformanceoftheconsistentsupervisiondutyinthereportingperiod□Applicable√Notapplicable VI.MainaccountingdataandfinancialindicatorsDidtheCompanyretroactivelyadjustorrestatetheaccountingdataofpreviousyearsduetochangeinthe accountingpolicyandcorrectionofaccountingmistakes? In2025,thenetprofitattributabletoshareholdersofthelistedcompanydecreasedby43.77%comparedtothesameperiodlastyear.Thiswasmainlyduetothefactthatinthesameperiodlastyear,thecompanysoldaportionofitsholdingsinGuotaiJunanSecurities,whichcontributedapproximately51.38millionyuantotheCompany'snetprofitfor2024. TheloweroftheCompany’snetprofitbeforeandafterdeductionofnon-recurringgainsandlossesinthemostrecentthreefiscalyearsareallnegative,andtheauditreportinthelastyearshowsthattheCompany'sabilitytocontinueoperationsisuncertain □Applicable√Notapplicable Thelowerofthenetprofitbeforeandafternon-recurringgainsandlossesisnegative□Applicable√Notapplicable VII.1.DifferenceofaccountingdatabetweenasperChineseaccountingstandardsandasperInternationalAccountingStandards□Applicable√Notapplicable 2.DifferenceofaccountingdatabetweenasperChineseaccountingstandardsandasperForeignAccountingStandardsThedifferenceofaccountingdatabetweenasperChineseAccountingStandardsandasperInternational AccountingStandardswas0.3.Explanationof reasons for differences in accounting data under domestic and foreign accountingstandards √Applicable□Notapplicable Thedifferen