BALANCE SHEET
Prepared by Dalian Refrigeration Co., Ltd. March 31, 2016 Unit: RMB Yuan
||||||
|-|-|-|-|-|
|Assets|31-Mar-2016||31-Dec-2015||
||Consolidation|Parent Company|Consolidation|Parent Company|
|Current assets:|||||
|Monetary funds|275,613,478.44|213,059,578.00|244,789,824.53|149,314,329.13|
|Financial assets which are measured by fair value andwhich changes are recorded in current profit and loss|||||
|Derivative financial assets|||||
|Notes receivable|74,214,666.95|36,259,322.34|71,699,517.68|40,690,578.22|
|Accounts receivable|733,948,070.22|207,026,275.85|671,423,836.87|196,691,940.87|
|Accounts in advance|52,776,569.86|23,025,241.72|44,218,887.91|22,523,974.19|
|Interest receivables|||||
|Dividend receivable|6,152,400.00|6,152,400.00|44,600.00||
|Other receivables|36,893,467.46|57,617,976.25|22,755,328.21|43,691,612.45|
|Inventories|272,937,551.24|125,579,251.32|259,099,149.47|122,212,395.56|
|Assets held for sale|||||
|Non-current asset due within one year|||||
|Other current assets|5,996,516.21|4,280,669.04|16,478,711.86|7,918,692.08|
|Total current assets|1,458,532,720.38|673,000,714.52|1,330,509,856.53|583,043,522.50|
|Non-current assets:|||||
|Finance asset held available for sales|607,160,879.04|605,845,736.54|733,275,249.09|731,960,106.59|
|Held-to-maturity investment|||||
|Long-term account receivable|||||
|Long-term equity investment|1,239,173,089.34|1,479,764,120.89|1,220,367,767.73|1,460,958,799.28|
|Investment property|24,344,752.75|24,344,752.75|24,497,584.00|24,497,584.00|
|Fixed assets|440,250,464.09|240,475,308.75|449,907,430.32|246,435,789.69|
|Construction in progress|144,934,419.33|117,062,051.41|137,025,384.58|109,277,419.44|
|Engineering material|||||
|Disposal of fixed asset|||||
|Productive biological asset|||||
|Oil and gas asset|||||
|Intangible assets|158,079,748.14|90,127,903.05|158,417,802.57|90,015,524.05|
|Expense on Research and Development|||||
|Goodwill|1,440,347.92||1,440,347.92||
|Long-term expenses to be apportioned|5,457,181.44|4,641,215.46|5,857,504.95|5,033,031.30|
|Deferred income tax asset|19,861,662.40|7,162,850.89|21,200,936.73|8,675,787.57|
|Other non-current asset|||||
|Total non-current asset|2,640,702,544.45|2,569,423,939.74|2,751,990,007.89|2,676,854,041.92|
|Total assets|4,099,235,264.83|3,242,424,654.26|4,082,499,864.42|3,259,897,564.42|

BALANCE SHEET (CONTINUED)
Prepared by Dalian Refrigeration Co., Ltd. March 31, 2016 Unit: RMB Yuan
||||||
|-|-|-|-|-|
|Liabilities and shareholders’ equity|31-Mar-2016||31-Dec-2015||
||Consolidation|Parent Company|Consolidation|Parent Company|
|Current liabilities:|||||
|Short-term loans|82,600,000.00|27,600,000.00|82,600,000.00|27,600,000.00|
|Derivative financial liabilities|||||
|Notes payable|171,461,794.37|130,238,362.56|234,189,011.72|177,683,261.74|
|Accounts payable|711,343,116.89|278,164,128.60|660,398,503.26|293,389,981.61|
|Accounts received in advance|66,712,952.53|24,257,232.84|70,458,014.46|25,768,511.15|
|Wage payable|23,582,087.36|885,669.48|51,857,345.29|11,208,398.45|
|Taxes payable|16,331,694.58|1,248,647.33|15,701,578.36|873,038.30|
|Interest payable|||||
|Dividend payable|533,156.00|533,156.00|533,156.00|533,156.00|
|Other accounts payable|98,591,355.70|51,166,040.56|99,890,290.15|55,807,703.77|
|Liabilities held for sale|||||
|Non-current liabilities due within one year|||||
|Other current liabilities|||||
|Total current liabilities|1,171,156,157.43|514,093,237.37|1,215,627,899.24|592,864,051.02|
|Non-current liabilities:|||||
|Long-term loans|160,000,000.00|160,000,000.00|||
|Bonds payable|||||
|Long-term account payable|||||
|Long-term wage payable|||||
|Deferred income|48,961,879.00|3,566,378.00|49,378,296.00|3,704,296.00|
|Deferred income tax liabilities|84,709,873.55|84,709,873.55|103,627,029.06|103,627,029.06|
|Other non-current liabilities|||||
|Total non-current liabilities|293,671,752.55|248,276,251.55|153,005,325.06|107,331,325.06|
|Total liabilities|1,464,827,909.98|762,369,488.92|1,368,633,224.30|700,195,376.08|
|Shareholders’ equity|||||
|Share capital|360,164,975.00|360,164,975.00|360,164,975.00|360,164,975.00|
|Other equity instruments|||||
|Capital public reserve|632,436,701.04|642,936,492.12|630,264,991.95|640,764,783.03|
|Specialized reserve|39,503,800.00|39,503,800.00|39,503,800.00|39,503,800.00|
|Other comprehensive income|482,790,903.51|481,561,975.89|589,988,118.05|588,759,190.43|
|Special preparation|||||
|Surplus public reserve|580,769,740.16|580,769,740.16|580,769,740.16|580,769,740.16|
|Retained profit|551,452,584.46|454,125,782.17|525,925,066.25|428,747,299.72|
|Translation of foreign currency capital|||||
|Total owner’s equity attributable to parent company|2,568,111,104.17|2,480,055,165.34|2,647,609,091.41|2,559,702,188.34|
|Minority interests|66,296,250.68||66,257,548.71||
|Total owner’s equity|2,634,407,354.85|2,480,055,165.34|2,713,866,640.12|2,559,702,188.34|
|Total liabilities and shareholder’s equity|4,099,235,264.83|3,242,424,654.26|4,082,499,864.42|3,259,897,564.42|

Legal Representative: Ji Zhijian Chief Financial Official: Ma Yun Person in Charge of Accounting Organization: Mao Chunhua
INCOME STATEMENT
Prepared by Dalian Refrigeration Co., Ltd. January-March, 2016 Unit: RMB Yuan
||||||
|-|-|-|-|-|
|Items|January-March, 2016||January-March, 2015||
||Consolidation|Parent Company|Consolidation|Parent Company|
|I. Total sales|400,592,922.66|115,257,669.44|393,941,332.13|140,314,467.62|
|Including: Operating income|400,592,922.66|115,257,669.44|393,941,332.13|140,314,467.62|
|II. Total operating cost|398,206,658.93|113,475,549.87|384,626,946.87|137,641,411.87|
|Including: Operating cost|333,650,668.53|94,264,744.26|323,034,478.60|117,390,426.14|
|Taxes and associate charges|2,902,901.06|7,097.13|3,253,523.16|908,801.77|
|Selling and distribution expenses|17,501,000.87|607,607.24|18,498,229.05|657,674.71|
|Administrative expenses|47,439,360.72|24,185,343.28|42,244,320.33|23,015,905.32|
|Financial expense|1,380,437.76|-226,882.57|-992,802.36|-2,228,986.57|
|Impairment loss|-4,667,710.01|-5,362,359.47|-1,410,801.91|-2,102,409.50|
|Add: Gain/(loss) from change in fair value|||||
|Gain/(loss) from investment|24,957,721.61|24,957,721.61|15,366,075.40|15,366,075.40|
|Including: income form investment on affiliatedenterprise and jointly enterprise|24,647,721.61|24,647,721.61|15,366,075.40|15,366,075.40|
|III. Operating profit|27,343,985.34|26,739,841.18|24,680,460.66|18,039,131.15|
|Add: non-business income|484,226.19|156,552.57|523,858.09|156,408.50|
|Including: profit from non-current asset disposal|64,284.56|18,634.56|||
|Less: non-business expense|22,667.47|4,974.62|600.00||
|Including: loss from non-current asset disposal|5,319.37|4,974.62|||
|IV. Total profit|27,805,544.06|26,891,419.13|25,203,718.75|18,195,539.65|
|Less: Income tax|2,239,323.88|1,512,936.68|2,203,305.40|424,419.64|
|V. Net profit|25,566,220.18|25,378,482.45|23,000,413.35|17,771,120.01|
|Net profit attributable to parent company|25,527,518.21|25,378,482.45|22,435,890.92|17,771,120.01|
|Minority shareholders’ gains and losses|38,701.97||564,522.43||
|VI. After-tax net amount of other comprehensiveincomes|-107,197,214.54|-107,197,214.54|||
|After-tax net amount of other comprehensiveincomes attributable to owners of the Company|-107,197,214.54|-107,197,214.54|||
|(I) Other comprehensive incomes that will not bereclassified into gains and losses|||||
|1. Changes in net liabilities or assets with adefined benefit plan upon re-measurement|||||
|2. Enjoyable shares in other comprehensiveincomes in investees that cannot be reclassifiedinto gains and losses under the equity method|||||
|……|||||
|(II) Other comprehensive incomes that will bereclassified into gains and losses|-107,197,214.54|-107,197,214.54|||
|1. Enjoyable shares in other comprehensiveincomes in investees that will be reclassified intogains and losses under the equity method|||||
|2. Gains and losses on fair value changes ofavailable-for-sale financial assets|-107,197,214.54|-107,197,214.54|||
|3. Gains and losses on reclassifyingheld-to-maturity investments intoavailable-for-sale financial assets|||||
|4. Effective hedging gains and losses on cashflows|||||
|5. Foreign-currency financial statement|||||

||||||
|-|-|-|-|-|
|translation difference|||||
|6. Other|||||
|……|||||
|After-tax net amount of other comprehensiveincomes attributable to minority shareholders|||||
|VII Total comprehensive income|-81,630,994.36|-81,818,732.09|23,000,413.35|17,771,120.01|
|Total comprehensive income attributable toparent company|-81,669,696.33|-81,818,732.09|22,435,890.92|17,771,120.01|
|Total comprehensive income attributable tominority shareholders|38,701.97||564,522.43||
|VIII. Earnings per share|||--||
|(I) basic earnings per share|0.07||0.06||
|(II) diluted earnings per share|0.07||0.06||

Legal Representative: Ji Zhijian Chief Financial Official: Ma Yun Person in Charge of Accounting Organization: Mao Chunhua
CASH FLOW STATEMENT
Prepared by Dalian Refrigeration Co., Ltd. January -March, 2016 Unit: RMB Yuan
|||||||
|-|-|-|-|-|-|
|Items|January -March, 2016|||January -March, 2015||
||Consolidation|Parent Company||Consolidation|Parent Company|
|I. Cash flows arising from operatingactivities:||||||
|Cash received from selling commodities andproviding labor services|259,550,611.17|57,386,660.38||168,986,081.23|28,836,321.34|
|Write-back of tax received|18,706.02|||191,191.89||
|Other cash received concerning operatingactivities|5,101,358.38|1,872,927.46||6,535,219.95|3,079,486.91|
|Subtotal of cash inflow arising fromoperating activities|264,670,675.57|59,259,587.84||175,712,493.07|31,915,808.25|
|Cash paid for purchasing commodities andreceiving labor service|205,022,168.61|62,407,122.34||162,207,962.07|80,610,184.43|
|Cash paid to/for staff and workers|93,063,640.59|37,869,910.32||91,911,242.24|38,017,364.23|
|Taxes paid|19,094,299.33|3,224,168.93||20,384,745.23|7,324,384.03|
|Other cash paid concerning operatingactivities|37,227,337.55|15,124,172.44||29,843,337.95|6,752,073.30|
|Subtotal of cash outflow arising fromoperating activities|354,407,446.08|118,625,374.03||304,347,287.49|132,704,005.99|
|Net cash flows arising from operatingactivities|-89,736,770.51|-59,365,786.19||-128,634,794.42|-100,788,197.74|
|II. Cash flows arising from investingactivities:||||||
|Cash received from recovering investment||||||
|Cash received from investment income|44,600.00|||||
|Net cash received from disposal of fixed,intangible and other long-term assets|43,040.00|43,000.00||||
|Net cash received from disposal ofsubsidiaries and other units||||||
|Other cash received concerning investingactivities||||||
|Subtotal of cash inflow from investingactivities|87,640.00|43,000.00||0.00|0.00|
|Cash paid for purchasing fixed, intangibleand other long-term assets|38,795,973.03|33,240,785.00||13,203,094.43|5,394,470.50|
|Cash paid for investment||||13,454,100.00|19,454,100.00|
|Net cash received from payment ofsubsidiaries and other business units||||||
|Other cash paid concerning investingactivities||||||
|Subtotal of cash outflow from investingactivities|38,795,973.03|||26,657,194.43|24,848,570.50|
||||33,240,785.00|||
|Net cash flows arising from investingactivities|-38,708,333.03|||-26,657,194.43|-24,848,570.50|
||||-33,197,785.00|||
|III. Cash flows arising from financingactivities||||||
|Cash received from absorbing investment||||60,434,000.00|56,434,000.00|
|Including: Cash received from absorbingminority shareholders' equity investment bysubsidiaries||||4,000,000.00||
|Cash received from loans|178,150,000.00|160,000,000.00||14,860,000.00||
|Other cash received concerning financingactivities|23,110,827.68|||32,953,876.63|16,145,665.64|
||||1,920,332.73|||
|Subtotal of cash inflow from financingactivities|201,260,827.68|||108,247,876.63|72,579,665.64|
||||161,920,332.73|||

||||||
|-|-|-|-|-|
|Cash paid for settling debts|17,751,087.50||3,000,000.00||
|Cash paid for dividend and profit distributingor interest paying|1,179,397.92|307,318.34|3,404,791.88||
|Including: dividends or profit paid bysubsidiaries to minority shareholders|||||
|Other cash paid concerning financingactivities|4,924,665.45|3,430,000.00|21,149,935.79|17,020,534.09|
|Subtotal of cash outflow from financingactivities|23,855,150.87|3,737,318.34|27,554,727.67|17,020,534.09|
|Net cash flows arising from financingactivities|177,405,676.81|158,183,014.39|80,693,148.96|55,559,131.55|
|IV. Influence on cash due to fluctuation inexchange rate|4,105.12|1,000.65|-69,647.80|41.03|
|V. Net increase of cash and cash equivalents|48,964,678.39|65,620,443.85|-74,668,487.69|-70,077,595.66|
|Add: Balance of cash and cash equivalents atthe period -begin|221,724,134.60|147,439,134.15|475,557,589.39|391,427,532.25|
|VI. Balance of cash and cash equivalents atthe period–end|270,688,812.99|213,059,578.00|400,889,101.70|321,349,936.59|

Legal Representative: Ji Zhijian Chief Financial Official: Ma Yun Person in Charge of Accounting Organization: Mao Chunhua