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    Industrial - Machinery
Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.

Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.

000530.SZ
Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.CN flagShenzhen Stock Exchange
4.86
CNY
-0.15
- -
2.92BMarket Cap
Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.
000530.SZ
(Shenzhen Stock Exchange)

Recent

price

4.86

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
2.07
2.5
2.04
2.1
1.94
2.12
2.29
2.38
2.31
2.18
2.02
2.48
3.09
5.85
5.34
4.96
6.06
Revenue per Share
0.14
0.11
0.16
0.21
0.16
0.17
0.22
0.23
0.13
0.11
0.02
-0.32
0.02
0.06
0.13
0.07
0.08
Basic EPS, GAAP
0.08
0.19
-0.15
-0.06
-0.03
-0.15
-0.42
-0.38
-0.32
-0.12
-0.03
-0.03
-0.11
-0.14
0.19
-0.08
-0.19
Free Cash Flow per Basic Share
0.09
0.07
0.08
0.08
0.08
0.08
0.05
0.08
0.07
0.07
0.06
0.03
0.03
0.05
0.07
0.07
0.02
Dividend per Share
0.99
0.96
1.01
1.12
1.14
1.17
1.53
1.84
2.23
2.24
2.16
1.75
1.56
1.77
1.79
1.7
2.17
Book Value per Share
2.27
2.25
2.34
2.54
2.6
3.37
3.88
3.84
3.87
3.94
3.87
3.46
2.82
3.17
3.18
3.02
3.83
Tangible Book Value per Share
723
745
745
730
735
758
828
873
850
841
854
841
937
823
849
886
706
Basic Weighted Avg Shares
1,496
1,863
1,522
1,536
1,426
1,608
1,893
2,080
1,966
1,832
1,727
2,089
2,893
4,816
4,531
4,398
4,282
Sales/Revenue/Turnover
2.24
3.96
3.85
3.69
1.3
1.12
1.47
3.53
-2.53
-3.56
0.36
-6.46
-2.64
3.28
1.96
2.91
2.95
Operating Margin (%)
38
37
37
40
41
43
46
52
71
73
83
99
96
161
163
158
- -
Depreciation Expense
100
82
117
153
115
130
182
201
111
89
21
-269
19
49
110
62
54
Net Income, GAAP
11.31
28.26
5.43
13.96
7.64
3.48
4.12
6.37
5.77
- -
- -
- -
2.75
16.92
9.52
8.41
7.87
Effective Tax Rate (%)
6.67
4.38
7.7
9.96
8.1
8.08
9.63
9.65
5.62
4.86
1.24
-12.88
0.65
1.03
2.44
1.41
1.26
Profit Margin (%)
348
467
428
413
400
115
775
473
645
472
587
592
1,261
1,100
1,345
1,152
1,188
Working Capital
10
- -
- -
- -
- -
- -
160
160
336
185
174
155
726
704
566
385
383
LT Debt
1,818
1,846
1,910
2,009
2,064
2,714
3,371
3,495
3,437
3,454
3,449
3,049
3,060
3,104
3,189
3,213
3,235
Total Equity
1.66
2.94
3.04
2.56
0.86
0.74
0.87
1.88
-1.21
- -
- -
- -
-2.19
3.57
2.23
3.09
2.85
Return on Invested Capital (%)
10.92
8.46
12.87
16.3
12.33
13.2
14.27
11.06
5.33
- -
- -
- -
1.56
2.92
5.36
3.27
2.74
Return on Capital (%)
14.2
11.41
15.93
19.48
13.97
15.09
16.9
13.96
6.31
4.72
1.15
-16.25
1.28
3.38
7.41
4.1
3.5
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
439
404
LT Borrowings
- -
368
368
LT Finance Leases
- -
17
15
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
843
843
Market Capitalization
5,980
7,164
4,230

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
5,009
4,779
Cash, Cash Equivalents & STI
- -
880
635
Accounts Receivable, Net
- -
1,635
1,671
Inventories
- -
1,436
1,424
Total Current Liabilities
- -
3,856
3,590
Payables & Accruals
- -
- -
- -
ST Debt
- -
439
404
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
2.03%
-1.27%
0.74%
Free Cash Flow
-5.27%
-21.37%
-144.68%
Net Income, GAAP
-131.44%
-244.89%
-43.77%
Sales/Revenue/Turnover
12.67%
23.41%
-2.94%
Total Cash Common Dividend
6.11%
11.34%
7.42%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,114
1,279
1,241
897
4,531
2025
1,159
1,222
1,233
785
4,398
2026
1,042
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.03
- -
- -
- -
0.13
2025
0.03
- -
- -
- -
0.07
2026
0.03
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.01
- -
- -
- -
0.07
2025
0.01
- -
- -
- -
0.07
2026
0.01
- -
- -
- -
- -
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Business
Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. manufactures and sells industrial refrigeration and heat transfer equipment in China and internationally. Founded in 1930 and headquartered in Dalian, Liaoning Province, the company operates through segments including industrial refrigeration and heating; commercial freezing and cooling; air conditioning and environmental control; smart cold chain solutions; biotechnology; and industrial interconnection services, serving industries such as oil and gas, petrochemicals, food processing, cold chain logistics, pharmaceuticals, and energy storage. Its core products encompass piston, screw, vortex, and scroll compressors; lithium bromide absorption chillers and heat pumps; pressure vessels; evaporative condensers; air coolers; quick freezers; spiral freezers; controlled atmosphere warehouses; refrigeration stations; magnetic levitation chillers; glycol air coolers; adiabatic coolers; and smart devices like IoT cabinets and vending machines; the company also provides design, installation, maintenance, and after-sales engineering services across Northeast, Central, East China, and overseas markets including Indonesia and Europe. In recent developments, subsidiaries stemming from the 2022 acquisition of Panasonic Appliances Compressor (Dalian) Co., Ltd. and Panasonic Appliances Refrigeration System (Dalian) Co., Ltd. for CNY 1 billion have rebranded to Songyang Compressor, Songyang Refrigeration, and Songyang Chillers, with Songyang Compressor achieving 5G factory designation and expanding exports to Europe and South America in 2025. The company established its first overseas joint venture in Indonesia in 2025 to localize technology and services, while two subsidiaries earned Liaoning Province manufacturing single-item champion awards in October 2025 for specialized refrigeration technologies. Bingshan continues to innovate in low-carbon solutions, showcasing CO2 heat pump systems and energy-efficient products at the 2025 China Refrigeration Exhibition and advancing air source heat pumps, nuclear power cooling equipment, and Stirling generator sets for waste heat recovery.