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    Producer manufacturing

  3. •

    Industrial machinery
Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. Class A

Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. Class A

1.66
HKD
-0.02
(-1.19%)
0.02EPS
78.26P/E
8.66BMarket Cap
Apr 23Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.32
0.29
0.32
0.34
0.36
0.35
0.33
0.31
0.37
0.47
0.88
0.81
0.75
2.33
Basic EPS, GAAP
0.03
0.02
0.03
0.03
0.03
0.02
0.02
- -
-0.05
- -
0.01
0.02
0.01
0.02
Free Cash Flow per Basic Share
-0.01
- -
-0.02
-0.06
-0.06
-0.05
-0.02
- -
-0.01
-0.02
-0.02
0.03
-0.01
- -
Dividend per Share
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.01
- -
- -
0.01
0.01
0.01
0.01
Book Value per Share
0.39
0.4
0.53
0.58
0.6
0.59
0.6
0.6
0.54
0.54
0.55
0.56
0.56
0.57
Tangible Book Value per Share
0.36
0.37
0.5
0.55
0.58
0.57
0.58
0.58
0.51
0.46
0.46
0.47
0.47
0.47
Basic Weighted Avg Shares
4,840
4,869
5,024
5,491
5,786
5,634
5,572
5,658
5,573
6,208
5,455
5,626
5,875
1,803
Sales/Revenue/Turnover
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
4,197
Operating Margin (%)
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
2.5
Depreciation Expense
40
41
43
46
52
71
73
83
99
96
161
163
158
- -
Net Income, GAAP
153
115
130
182
201
111
89
21
-269
19
49
110
62
31
Effective Tax Rate (%)
13.96
7.64
3.48
4.12
6.37
5.77
- -
- -
- -
2.75
16.92
9.52
8.41
3.15
Profit Margin (%)
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
0.74
Working Capital
413
400
115
775
473
645
472
587
592
1,261
1,100
1,345
1,152
1,103
LT Debt
- -
- -
- -
160
160
336
185
174
155
726
704
566
385
316
Total Equity
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
3,219
Return on Invested Capital (%)
5.97
5.08
5.33
4.87
5.54
2.85
- -
- -
- -
0.41
1.3
3.1
1.81
0.99
Return on Capital (%)
7.53
5.76
5.44
5.78
5.46
3.16
- -
- -
- -
0.93
1.82
3.3
1.96
1.09
Return on Common Equity (%)
8.24
5.96
5.63
6.13
5.98
3.26
2.65
0.63
-8.44
0.62
1.63
3.57
1.97
0.98

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
439
404
402
LT Borrowings
368
368
304
LT Finance Leases
17
15
12
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
5,589
5,589
5,589
Market Capitalization
8,990
8,509
7,495

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
5,009
4,779
4,881
Cash, Cash Equivalents & STI
880
635
622
Accounts Receivable, Net
1,635
1,671
1,827
Inventories
1,436
1,424
1,401
Total Current Liabilities
3,856
3,590
3,778
Payables & Accruals
- -
- -
- -
ST Debt
439
404
402
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

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

CNY

•

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
1,138
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.06
0.02
0.02
0.02
2025
- -
0.06
0.01
-0.03
0.01
2026
- -
0.03
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
0.01
0.04
0.01
0.01
2025
- -
0.01
- -
- -
0.01
2026
- -
0.01
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Xi De Yin
Full Time Employees
4,245
Sector
Producer manufacturing
Industry
Industrial machinery
Address
No. 106, Liaohe East Road Dalian LI China 116630
IPO Date
Dec 8, 1993
Website
bingshan.com
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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.