Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. 2026 Semiannual Report Summary

§1 Important Notes

§2 Company Profile

2.1 Company Profile

2.2 Summary of Accounting Data and Financial Indexes

Did the Company retroactively adjust or restate the accounting data of previous years?

√Yes □ No

The reason for the retroactive adjustment is the same control enterprise merger.

Unit: RMB Yuan

2.3 Statement of shares held by the top ten common shareholders

In the first half of 2026, the Company focused on the hot and cold business, deeply cultivated segmented markets, and continuously strengthened its main business. In the first half of 2026, the Company achieved an operating revenue of 2,179.67 million yuan, a decrease of 8.62% year-on-year; The net profit attributable to the shareholders of the listed company was 47.14 million yuan, a decrease of 39.98% year-on-year, mainly due to the rising prices of raw materials and intensified market competition.

During the reporting period, the Company's subsidiary, Bingshan Engineering, continued to deepen its focus in niche markets. In the product sector, it actively served high-end clients, securing contracts for several high-standard projects such as those for the Three Major Oil Companies and Chengxin Chemical. In the engineering sector, it undertook key projects including the Taizhou Jiaojiang Fish Town, Zhengzhou Dahan Huiji, Guangzhou Jiangnan Fruit and Vegetable, and Shandong Linqing Agricultural Product projects. In the energy sector, orders for energy storage thermal management and CCUS continued to be signed.

During the reporting period, the Company's subsidiary, Bingshan Guardian's Cold & Heat System, achieved new milestones in intelligent energy-saving control. The next-generation Model Predictive Control (MPC) algorithm was successfully implemented in Bingshan's cold and heat equipment applications, progressing steadily. The development of MPC energy-saving algorithms embedded in edge controllers has reached phased results. The Hardware-in-the-Loop testing platform for energy storage temperature control systems was pragmatically established, significantly enhancing development efficiency.

During the reporting period, the Company's subsidiary, Sonyo Compressor, achieved independent innovation and high-quality growth. The series development of high-horsepower scroll compressors progressed steadily, while DC inverter scroll compressors suitable for data center temperature control systems were actively promoted. Focusing on the heat pump sector, it continued to deepen its expansion in the European market. Through cost reduction and efficiency improvement, it sought to mitigate the impact of rising bulk material prices. It was recognized as one of the 100 National 5G Factory Model Application Practice Projects and selected as a 2026 Liaoning Provincial Intelligent and Digital Transformation Benchmark Enterprise.

During the reporting period, the subsidiary of the Company, Sonyo Refrigeration, focused on industrial energy conservation and innovative green growth. Signed a contract for the absorption type Class II heat pump project with the largest steam production capacity in a single domestic project, achieving efficient coupling of waste heat recovery and steam production. The specialized lithium bromide unit for offshore platforms has been successfully developed. Awarded as a national level green factory.

During the reporting period, the subsidiary of the Company, Sonyo Refrigeration System, made new progress in product development. The prototype development of the transcritical CO₂ air-cooled integrated unit has been completed, assisting in the expansion of overseas markets. Optimization and upgrade of marine OCCS compression module and liquefaction module. Launching a new generation of vanadium liquid flow energy storage temperature control system, actively promoting the development of new customers.

Board of Directors of Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.