Bingshan Refrigeration & Heat Transfer Technologies Co Ltd

Bingshan Refrigeration & Heat Transfer plans to acquire all equity in Bingshan Services held by Bingshan Group, Zhonghuida, and Zhixintong for 21.2695 million yuan, in a related-party transaction. In the first half of 2026, Bingshan Services achieved revenue of 67.61 million yuan and net profit of 2.28 million yuan, but its net operating cash flow was negative 17.61 million yuan, compared with negative 24.47 million yuan in 2025. The company said the acquisition will help promote service integration and expand data center hosting, operation and maintenance, and energy-saving renovation businesses. On the same day, Bingshan Refrigeration & Heat Transfer disclosed its semi-annual report, with first-half revenue of 2.18 billion yuan, down 8.62 percent year on year, and net profit attributable to the parent of 47.1426 million yuan, down 39.98 percent year on year, mainly affected by rising raw material prices and intensifying market competition. As of the close on August 12, Bingshan Refrigeration & Heat Transfer traded at 5.10 yuan per share, with a total market value of 4.3 billion yuan.