StockCode:000530;200530 ShortFormoftheStock:DalengGufen;DalengB;No:2017-036 DalianRefrigerationCo.,Ltd. 2017SemiannualReportSummary §1ImportantNotes Thissummaryisextractedfromtheoriginalofthesemiannualreport.Formoreinformation,the investorsarerecommendedtorefertotheoriginal. CompanyProfile Shortformofthestock DALENGGUFEN;DALENG-B Stockcode 000530;200530 Listedstockexchange ShenzhenStockExchange Contactpersons SecretaryoftheBoardofDirectors Authorizedrepresentativeinchargeofsecuritiesaffairs Name SongWenbao DuYu DALENGGUFENSecurities�}Legal DALENGGUFENSecurities�}LegalAffairsNo.106, Contactaddress AffairsNo.106,LiaoheEastRoad, LiaoheEastRoad,DalianEconomicandTechnological DalianEconomicandTechnological DevelopmentZone DevelopmentZone Telephone 0411-87968130 0411-87968822 Fax 0411-87968125 0411-87968125 E-mail 000530@bingshan.com 000530@bingshan.com §2SummaryofAccountingDataandFinancialIndexes 2.1Mainaccountingdata(Unit:RMBYuan) DidtheCompanyretroactivelyadjustorrestatetheaccountingdataofpreviousyearsdueto changeintheaccountingpolicyandcorrectionofaccountingmistakes √Yes□No Increase/decreasecomparedwith item 2016.1-6 2017.1-6 previousyear(%) Beforeadjustment Afteradjustment Afteradjustment Operatingrevenue 1,002,378,717.50 779,919,864.03 830,873,999.65 20.64% Netprofitattributabletoshareholdersoflisted 98,260,163.09 67,487,286.84 70,632,718.91 39.11% companiesNetprofitbelongingtotheshareholdersoflisted companies after the deduction of 69,960,863.49 61,910,458.03 65,055,890.10 7.54%non-recurringprofitandlossNetcashflowfromoperatingactivities -148,577,541.90 -43,212,032.40 -51,268,538.89 -189.80%Basicearningpershare 0.115 0.120 0.089 29.21%Dilutedearningspershare 0.115 0.120 0.089 29.21%Weightedaveragereturnonnetassetyield 2.95% 2.52% 2.64% Increase0.31percentagepoints Attheendof Increase/decreasecomparedwith Attheendof2016 previousyear（％）2017.6.30 Beforeadjustment Afteradjustment Afteradjustment Totalassets 5,372,939,781.32 4,983,511,574.26 5,095,986,440.32 5.43% Owner'sequityattributabletoshareholdersof 3,309,730,421.64 3,247,797,768.92 3,301,087,748.86 0.26% listedcompanies 2.2Statementofsharesheldbythetoptencommonshareholders Totalnumberofshareholdersinthereportingperiod 41,442 Shareholdingoftoptenshareholders Numberof Numberofpledged Name Nature Proportion Totalnumber shareswithsale sharesorshares restriction frozen DalianBingshanGroupCo.,Ltd. Domesticnon-state-ownedlegalperson 19.96% 170,916,934 0 0 SanyoElectricCo.,Ltd. Overseaslegalperson 8.58% 73,503,150 0 0 ZheshangJuchaoindustrygrow Others 2.56% 21,896,286 0 0 hybridsecuritiesinvestmentfund ZheshangJuchaoNewthinking Others 1.58% 13,503,638 0 0 hybridsecuritiesinvestmentfund NationalSocialSecurityFunds104 Others 1.31% 11,199,297 0 0 Portfolio IndustrialSecuritiesGoldenKylin No.2CollectiveAssetManagementOthers 1.07% 9,163,753 0 0Plan NationalSocialSecurityFunds503 Others 0.96% 8,210,314 0 0Portfolio Caitong Capital Kunze No. 2 Others 0.96% 8,210,313 0 0 SecuritiesvInestmentFund ShenzhenB&DCapitalFengnian Others 0.96% 8,210,313 0 0 JinjiaNo.1Fund LinZhenming Overseasnaturalperson 0.73% 6,230,000 0 0 DalianBingshanGroupCo.,Ltd.hadtheassociationrelationship Notestotheassociatedrelationshipanduniformactionsoftheabove withSanyoElectricCo.,Ltd.amongtheaboveshareholders.Sanyo shareholders ElectricCo.,Ltd.holds26.6%ofDalianBingshanGroupCo.,Ltd.'sequity. 2.3 Statementofsharesheldbythetoptenpreferredshareholders □Yes√No2.4 Variationincontrollingshareholdersoractualcontrollers Variationincontrollingshareholdersinthereportperiod □Applicable√Notapplicable Therewerenochangesinthecontrollingshareholderinthereportingperiod. Variationinactualcontrollersinthereportperiod □Applicable√Notapplicable §3Discussionandanalysisofthemanagement Inthe firsthalf of2017,the Companyfocusedon"activating, integrating and promoting", maintainedstrategicstrength,activatedendogenouspower,integratedsystemresources,brought togethercompetencies,promotedoperationalqualityandefficiency,andstrivedtoachievekeybusinesstargets.Inthefirsthalfof2017,theCompanyachievedoperatingincomeof1,002.38 millionYuan,withayear-on-yeargrowthof20.64%;achievedatotalprofitof104.9millionYuan, withayear-on-yeargrowthof36.95%. Duringthereportingperiod, theCompanysucceededincompletingtheoverallremoval and reconstruction,theintelligent,environmental,efficientandsafenewplantwasputintouse.On May7,2017,theCompany'snewplant�CBingshanDoubleDPort IndustrialParkofficially opened.OnJune26,2017,PremierLiKeqiangwenttotheCompany'snewfactoryforfield researchandgavepositiveevaluation. Duringthereportingperiod,theCompany'ssubsidiaryWuxinRefrigerationbasicallycompleted thenationwideregionaldistributionforthedemonstrationofitsnewproducts,theincomeofnew productsincreasedbymorethan50%onayear-on-yearbasis,thestrategictransformationresults areobvious.BasedonthesuccessfullaunchofChina'sfirstsetofnaturalgaspipelinepressure energyforgeneratingelectricityandcoldenergyrecoverysystem,multipleapplicationprojectsin manyplaceswereproceedingorderlybytechnologymarketingandgovernmentmarketing. Duringthereportingperiod,theCompany'ssubsidiaryBingshanEngineeringCompanycontinued todeepenthemarketsegmentation,andtheordersincoldchainlogistics,fishingindustry,beer dairy products, fine chemicals and other fields achieved great growth. Signed natural gas distributedenergysourceselectromechanicalgeneralcontractwithJiangsuRunchang,thetotal contractamountwasabout160millionYuan.Andsignedthefirsthigh-endindoorsnowfield projectwithGuangzhouWanda,snowandicebusinessachievedanewbreakthrough. Duringthereportingperiod,theCompany’ssubsidiaryBingshanServiceCompanyflexiblyused Bingshaninternetofthingscloudplatform,activelyexpandednewservicebusinessfields,and signedthefirstmachineroomhostingcontractwithTianjinErshangwhichinitiatedthemachine roomhostingoflarge-scaleammoniasystemintherefrigerationindustry,themaintenanceincome hadayear-on-yeargrowthofmorethan50%. Duringthereportingperiod,thehorizontalscrollcompressorforrailtransitairconditioningnewly developedbytheCompany'srelatedCompanyPanasonicCompressorhasbeenwellexpandedin subway,lightrailandotherfields.Italsoachievednewresultsintheexpansionofoverseas market,theincomeinEuropeanmarketincreasedbyabout50%onayear-on-yearbasis.Impact bythestate’spoliciesofreorganizingtheelectricbusmarketandcuttingdownthesubsidies,the salesvolumeofhorizontalscrollcompressorforelectricbussharplyreduced,coupledwiththe rapidriseinthepriceofbulkrawmaterials,thenetprofitgreatlydeclinedonayear-on-yearbasis. Duringthereportingperiod,theCompany'srelatedCompany,PanasonicColdChain,conformed tothenewtrendofconsumptionandactivelyexpandedandsubdividedtheblueoceanmarket. Theconveniencestorebusiness,newdevelopedSFandBeijing7-11andothercustomers,andthe incomeachievedayear-on-yeargrowthof28%.Biomedicalcare,medicalultra-lowtemperature refrigerator,bloodrefrigerator,incubatorandothernewproductsinthehospitals,bloodstations, andscientificresearchandotherfieldshaveachievedapplicationbreakthroughs,andtheincome achievedayear-on-yeargrowthofmorethan50%. Duringthereportingperiod,theCompany'srelatedCompanyFushiBingshanfullyrealizedthe intelligentupgradingofproducts,andtheproductdiversificationhastakenasolidstep.Inaddition tobeveragemachine,thelargefoodmachine,coffeemachine,liquormachine,boxlunchmachine and other new models have completed development and began mass production. The world-leadingintelligentmanufacturingnewplantforvendingmachinehasbeenconstructedand putintooperation;theproductioncapacityhasbeendoubledandcanbetterrespondtotherapid growthofunmannedvendingmachine. Duringthereportingperiod,basedontheoverallpositioningofcoldandhotindustrialinvestment platform,the Company increasedthe capitaloperation, and implemented thefirst batchof acquisitiontohigh-qualityassetsofcontrollingshareholders.Theacquisitionhasbeencompleted bytheendofApril2017,andtheCompanycurrentlyholds100%stakeinBSETand49%stakein BingshanMetalTechnology. Duringthereportingperiod,theCompanyhasrentedoutbothlandandhousingofoldfactoryto BingshanWisdomParkCompanyforitsconstructionanddevelopment.BingshanWisdomPark shallcenterontheintelligentscienceandtechnology,focusonbreakingthroughtheinternetof things,bigdataapplications,wisdomrecuperation,wisdomeducationandotherfields,striveto buildBingshanindustrialecosphere,andcreatenewengineforbusinessgrowth. §4Mattersrelatedtofinancialreport 4.1Changeinaccountingpolicies,accountingestimatesandaccountingmethodscomparedwith thefinancialstatementsofthepreviousyear □Applicable√AInapplicable 4.2Correctionofmajoraccountingmistakesinthereportingperiod,whichshouldberetroactively restated□Applicable√AInapplicable4.3Explanationonchangeofconsolidationscopeinthereportperiodcomparedwiththelatestannualreport√Applicable□InapplicableThisyear,thereare2moreentitieswereincludedinthescopeofconsolidation,DalianBingshanEngineering&TradingCo.,Ltd.andChengduBingshanRefrigerationEngineeringCo.,Ltd.OnFebruary15,2017,thecompany’boardofdirectorsdecidedtoacceptthetransferof76%equity stakeofDalian BingshanEngineering and TradingCo.,Ltd., thecompany’s formerassociated company,after theacceptance ofthis transfer,DalianBingshanEngineering andTradingCo.,Ltd\.becameawholly-ownedsubsidiaryofthecompany.AsofJune30,2017,theaboveequitytransactionhasbeencompleted.Therefore,thecompanyheld100%equitystakeofDalianBingshanEngineeringandTradingCo.,Ltd.whenestablishingtheconsolidatedstatementsofcurrentperiod.AsDalianBingshanEngineeringandTradingCo.,Ltd.isalsoasubsidiaryoftheparentcompanyDalianBingshanGroupCo.,Ltd.,thecompanyhasmergedthesubsidiaryDalianBingshanEngineeringandTradingCo.,Ltd.bythesamecontrolincurrentperiod,whenestablishingtheconsolidatedbalancesheet,adjustedthebeginningdataofrelevantprojectsofconsolidatedbalancesheet,andalsoadjustedthecomparabledataofthecorrespondingperiodwhenestablishingtheincomestatementsandcashflowstatements.TheBoardofDirectorsofthecompany’ssubsidiaryDalianBingshanGroupEngineeringCo.,Ltd.decidedDalianBingshanGroupEngineeringCo.,Ltd.andChengduNewWorldRefrigeration EquipmentEngineering Co.,Ltd.jointly investandbuildajointventureChengduBingshan RefrigerationEngineeringCo.,Ltd.,DalianBingshanGroupEngineeringCo.,Ltd.investedRMB 5.1millionincash,holding51%stake.AsofJune30,2017,ChengduBingshanRefrigeration EngineeringCo.,Ltd.hasofficiallystartedoperating. 4.4ExplanationoftheBoardofDirectorstothe“Non-standardizedOpinion” □Applicable √Inapplicable BoardofDirectorsofDalianRefrigerationCo.,Ltd. August26,2017