冰山B：2020年第一季报告正文（英文版）

QUARTERLY REPORT FOR FIRST QUARTER, 2020 §1 Important Notes 1.1 The directors and the Board of Directors, the supervisors and the Supervisory Board, and Senior staffmembers of Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. (hereinafter referred to as theCompany) hereby confirm that there are no any important omissions, fictitious statements or seriousmisleading 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.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. Zhang Lingling hereby confirm that the financial report of thequarterly report is true and complete.1.4 This report is written respectively in Chinese and in English. In the event of any discrepancy between thetwo above-mentioned versions, the Chinese version shall prevail. Net profit attributable to parent company decreased and slipped into loss significantly y-o-y , mainly due to1.in the same period of last year, there was a large amount of non-recurring gains,following:(1) The Gain fromchange in fair value of Guotai Junan has been recorded into the current profit and loss, which is about 64.50million yuan;(2)During the reporting period, the Company's exchangeable corporate bondholders exchanged atotal of 8.3889 million shares, increasing the current investment income about 40.57 million yuan. 2.Duringthe reporting period, there are large amount of non-recurring losses, mainly due to that the negative change in fair value of Guotai Junan has made the Company loss about 29.51million yuan in first quarter,2020.3.Duringthe first quarter, with the affection of the 2019-nCo, the profit has decreased along with the operating revenue. 2.2 Total number and particulars of the shareholders by the end of the report period 3 Important Matters 3.1 Major changes in main financial items and indexes, and description of the cause√ Applicable □ Inapplicable1. Other current assets has decreased significantly compared with the beginning of the year, mainly due to thechange of value added tax allowance.2. The salary payable has decreased significantly compared with the beginning of the year, mainly due to thepayment of provision employee compensation of last period-end during the reporting period.3. The tax payable has decreased significantly compared with the beginning of the year, mainly due to thedecreased of VAT payable and income tax payable.4. The interest payable has decreased significantly compared with the beginning of the year, mainly due to thedecrease of interest payable of Exchangeable Bonds for which the Company has made provision.5. The selling expenses has decreased significantly y-o-y,, mainly due to the 2019-nCoV has limited thesales activities.6. The income on investment has decreased significantly y-o-y,, mainly due to that the holders of “18 dalengEB” has concentratedly exchanged their shares and the decrease of profit fromjoint enterprise.7. The Gain from change in fair value has decreased significantly y-o-y, mainly due to the change in fair valueof Guotai Junan, with that the fair value of Guotai Junan has changed positively in last year.3.2 Important Progress and the analysis of the influence and solution□Applicable√Inapplicable3.3 Commitments of the Company or its shareholders, actual controller and other related parties in thereporting period or carried to the reporting period□ Applicable √ Inapplicable3.4 The securities investment√Applicable□Inapplicable 3.5 Trust management□Applicable√Inapplicable3.6 Derivative investment□ Applicable √ Inapplicable3.7 Table of investigation, communication, interview received□Applicable√Inapplicable3.8 Violation of external guaranty□ Applicable √ Inapplicable3.9 Non-operation capital occupation by holding shareholders and their related parties in the listed company□ Applicable √ Inapplicable Board of Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.April18, 2020