StockCode:000530;200530 ShortFormoftheStock:DalengGufen;DalengB; No:2017-017 DALIANREFRIGERATIONCO.,LTD. QUARTERLYREPORTFORFIRSTQUARTER,2017 §1ImportantNotes 1.1ThedirectorsandtheBoardofDirectors,thesupervisorsandtheSupervisoryBoard,andSeniorstaff membersofDalianRefrigerationCo.,Ltd.(hereinafterreferredtoastheCompany)herebyconfirmthat therearenoanyimportantomissions,fictitiousstatementsorseriousmisleadingcarriedinthisreport,and shalltakeallresponsibilities,individualand/orjoint,forthereality,accuracyandcompletenessofthewhole contents. 1.2AllthedirectorshaveattendedthisBoardmeetingoftheCompanyexceptMrTakagiToshiyuki. 1.3ChairmanoftheBoardofDirectorsoftheCompanyMr.JiZhijian,FinancialMajordomoMr.MaYun, andtheheadofAccountingDepartmentMrs.MaoChunhuaherebyconfirmthatthefinancialreportofthe quarterlyreportistrueandcomplete. 1.4ThisreportiswrittenrespectivelyinChineseandinEnglish.Intheeventofanydiscrepancybetweenthe twoabove-mentionedversions,theChineseversionshallprevail. §2CompanyProfile 2.1Majoraccountingdataandfinancialindexes Increase/decreaseoverthesameperiodof January-March,2017 January-March,2016 lastyear Totaloperatingincome 474,819,352.69 400,592,922.66 18.53% Netprofitattributabletoshareholdersof 33,297,454.56 25,527,518.21 30.44% listedcompanies Netprofitattributabletoshareholdersof listedcompaniesafterdeducting 32,797,617.05 25,497,476.68 28.63% non-recurringgains/losses Netcashgeneratedfromoperatingactivities -137,117,775.57 -89,736,770.51 -52.80% Basicearningspershare 0.05 0.05 0.00% Dilutedearningspershare 0.05 0.05 0.00% Returnonequity 1.02% 0.96% Increase0.06percentagepoints March31,2017 December31,2016 Increase/decreaseovertheendoflastyear Totalassets 4,994,298,464.88 4,983,511,574.26 0.22% Owner’sequityattributabletoshareholders 3,275,951,495.82 3,247,797,768.92 0.87% oflistedcompanies non-recurringgainsandlosses √Applicable□Inapplicable Itemofnon-recurringgainsandlosses Amountfrombeginningofyeartotheendofreportperiod Disposalgainsandlossesofnon-currentasset 72,310.71 Governmentsubsidiesincludedincurrentprofitorloss 355,000.00 Otheroperatingrevenueorexpense 174,229.94 Incometaxeffect 107,497.41 Minorityshareholders’gainsandlosses -5,794.27 Total 499,837.51 2.2Totalnumberandparticularsoftheshareholdersbytheendofthereportperiod Totalshareholdersattheendofreportperiod 41,152 Shareholdingoftoptenshareholders Numberof Numberof pledged Name Nature Proportion Totalnumber shareswith sharesor salerestriction sharesfrozen Domesticnon-state-owned DalianBingshanGroupCo.,Ltd. 19.96% 122,083,524 0 legalperson SANYOELECTRICCOLTD Foreignlegalperson 8.58% 52,502,250 0 ZheshangJuchaoNewthinkinghybrid Others 1.77% 10,820,256 0 securitiesinvestmentfund IndustrialSeouritiesGoldKylin2 Others 1.67% 10,229,236 7,280,081 Aggregateassetmanagementplan NationalSocialSecurityFunds104 Others 1.32% 8,100,000 5,864,510 Portfolio NationalSocialSecurityFunds503 Others 0.96% 5,864,510 5,864,510 Portfolio CaitongCapitalKunzeNo.2Securities Others 0.96% 5,864,509 5,864,509 vInestmentFund ShenzhenB&DCapitalFengnianJinjia Others 0.96% 5,864,509 5,864,509 No.1Fund LinZhenming Foreignnaturalperson 0.72% 4,450,000 0 ZheshangJuchaoindustrygrowhybrid Others 0.64% 3,932,595 0 securitiesinvestmentfund Particularsaboutsharesheldbythetoptennegotiableshareholdersnotsubjecttoconditionalsales Nameofshareholder EORP(shares) Type DalianBingshanGroupCo.,Ltd. 122,083,524 A SANYOELECTRICCOLTD 52,502,250 B ZheshangJuchaoNewthinkinghybridsecuritiesinvestmentfund 10,820,256 A LinZhenming 4,450,000 B ZheshangJuchaoindustrygrowhybridsecuritiesinvestmentfund 3,932,595 A SunHuiming 3,724,449 B BOICSECURITIESLIMITED 3,162,744 B WuAn 3,110,036 B IndustrialandCommercialBankof-PengHuareformdividendequitysecurities 3,000,000 A investmentfund IndustrialSeouritiesGoldKylin2Aggregateassetmanagementplan 2,949,155 A DalianBingshanGroupCo.,Ltd.hadthe associationrelationshipwithSanyoElectricCo., NotestotheassociatedrelationshipanduniformactionsoftheaboveshareholdersLtd.amongtheaboveshareholders.Sanyo ElectricCo.,Ltd.holds26.6%ofDalian BingshanGroupCo.,Ltd.'sequity. 3ImportantMatters 3.1Majorchangesinmainfinancialitemsandindexes,anddescriptionofthecause √Applicable□Inapplicable 1.Accountsinadvanceincreasedsignificantlycomparedwiththeyear-beginning,mainlyduetotheincrease inequipmentsinadvanceintheperiod. 2.Othercurrentassetsdecreasedsignificantlycomparedwiththeyear-beginning,mainlyduetothedecrease invalueaddedtaxandincometaxoftheaccruedtradeinallowancethatthetaxespayabletransferred. 3.Employeecompensationpayabledecreasedsignificantlycomparedwiththeyear-beginning,mainlydueto intheperiodthepaymentofprovisionemployeecompensationoflastperiod-end. 4.Financialexpensedecreasedsignificantlyy-o-y,mainlyduetothereductionininterestincomeinthe period. 5.Investmentincomeincreasedsignificantlyy-o-y,mainlyduetothecashdividend11.15millionfrom GuotaiJunan. 6.Netcashfromoperatingactivitiesdecreasedsignificantlyy-o-y,mainlyduetotheincreaseincashpaidfor purchasingcommoditiesandreceivinglaborservice. 7.Netcashflowfrominvestingactivitiesreducedsignificantlyy-o-y,mainlyduetotheincreaseinthe investmentincash39.20milliontotheDalianBingshanGroupManagementConsultingCo.,Ltd. 8.Netcashflowfromfinancingactivitiesdecreasedsignificantlyy-o-y,mainlyduetotheCompany receivingofspecialfundofChinaDevelopmentFundthelastyear. 3.2ImportantProgressandtheanalysisoftheinfluenceandsolution □Applicable√Inapplicable 3.2ImportantProgressandtheanalysisoftheinfluenceandsolution□Applicable√Inapplicable 3.3CommitmentsoftheCompanyoritsshareholders,actualcontrollerandotherrelatedpartiesinthe reportingperiodorcarriedtothereportingperiod□Applicable√Inapplicable 3.4Precautionsonforecastingthatbythebeginningofyeartilltheendofthenextreportperiod,the accumulatednetprofitmaybeturnedintolossorchangegreatlycomparedwiththatinthesameperiodof thelastyear,anddescriptionofthecause□Applicable√Inapplicable 3.5Thesecuritiesinvestment□Applicable√Inapplicable 3.6Derivativeinvestment□Applicable√Inapplicable 3.7Tableofinvestigation,communication,interviewreceivedReceivingtime Wayofreceiving Receivedobjecttype BasicsituationindexJan.03,2017 Fieldinvestigation Institution http://irm.cninfo.com.cn/ssessgs/S000530 TakepartinChinainternationalcapital http://irm.cninfo.com.cn/ssessgs/S000530Jan.04,2017 Institution corporationNewtechnologyBBSJan.12,2017 Fieldinvestigation Institution http://irm.cninfo.com.cn/ssessgs/S000530Jan.18,2017 Fieldinvestigation Institution http://irm.cninfo.com.cn/ssessgs/S000530Jan.19,2017 Fieldinvestigation Institution http://irm.cninfo.com.cn/ssessgs/S000530Mar.08,2017 Fieldinvestigation Institution http://irm.cninfo.com.cn/ssessgs/S000530Mar.09,2017 Fieldinvestigation Institution http://irm.cninfo.com.cn/ssessgs/S000530 3.8Violationofexternalguaranty□Applicable√Inapplicable 3.9Non-operationcapitaloccupationbyholdingshareholdersandtheirrelatedpartiesinthelistedcompany□Applicable√Inapplicable BoardofDirectorsofDalianRefrigerationCo.,Ltd. April22,2017