Stock Code: 000530; 200530 Short Form of the Stock: Daleng Gufen; Daleng B; No: 2014-019 DALIAN REFRIGERATION CO., LTD.
2014 SEMIANNUAL REPORT SUMMARY
§1 Important Notes
(1)This summary is extracted from the original of the semiannual report, which is disclosed on the Internet（http://www.cninfo.com.cn）. For more information, the investors are
recommended to refer to the original.
This report is written respectively in Chinese and in English. In the event of any discrepancy
between the two above-mentioned versions, the Chinese version shall prevail.
(2) Company Profile
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|Short form of the stock|DALENG GUFEN; DALENG-B||
|Stock code|000530; 200530||
|Listed stock exchange|Shenzhen Stock Exchange||
||Secretary of the Board ofDirectors|Authorized representative incharge of securities affairs|
|Name|Mr. Song Wenbao|Mr. Song Wenbao(proxy)|
|Contact address|Securities Department of DalianRefrigeration Co., Ltd.|Securities Department ofDalian Refrigeration Co., Ltd.|
|Telephone|0086-411-86538130|0086-411-86538130|
|Fax|0086-411-86654530|0086-411-86654530|
|E-mail|000530@bingshan.com|000530@bingshan.com|

§2 Major Accounting Data and Particulars about Shareholders
(1) Summary of the accounting data and indexes
Did the Company retroactively adjust or restate the accounting data of previous years due to
change in the accounting policy and correction of accounting mistakes?
□ Yes√ No
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|-|-|-|-|
||Report period (from|Same period in the|Increase/decrease compared with|
|Summary of the accounting data||||
||Jan. through Jun.)|last year|the same period of the last year|
|Operating revenue|774,912,253.19|792,124,153.23|-2.17%|
|Net profit attributable to shareholders of|66,477,633.28|65,122,435.00|2.08%|
|listed companies||||
|Net profit belonging to the shareholders|63,794,559.91|62,382,278.37|2.26%|
|of listed companies after the deduction of||||
|non-recurring profit and loss||||
|Net cash flow from operating activities|-2,594,386.46|3,743,258.07|-169.31%|
|Basic earning per share|0.19|0.19|0.00%|
|Diluted earnings per share|0.19|0.19|0.00%|
|Weighted average return on net asset|3.49%|3.61%|Decrease 0.12 percentage points|
|yield||||
||End of this report||Increase/decrease compared with|
|||End of last year||
||period||the end of last year|
|Total assets|3,013,042,235.25|2,967,390,234.89|1.54%|
|Owner's equity attributable to|1,920,859,529.62|1,907,018,190.46|0.73%|
|shareholders of listed companies||||

(2) Particulars about the shares held by the top ten shareholders
Unit: share
|||||||||
|-|-|-|-|-|-|-|-|
|Total number of shareholders in the reporting period|||38,737|||||
|Shareholding of top ten shareholders||||||||
|||||||Number of|Number of|
|Name|Nature|||Proportion|Total number|shares with sale|pledged shares|
|||||||restriction|or shares frozen|
|Dalian Bingshan Group Co., Ltd.|Domestic non-state-owned legal person|||21.96%|76,855,683|19,213,921||
|Sanyo Electric Co., Ltd.|Overseas legal person|||10.00%|35,001,500|0||
|Penghua China 50 Open-End Securities InvestmentFund|Others|||1.95%|6,799,927|0||
|Zhong Chuan Finance Co., Ltd.|State-owned legal person|||1.43%|5,000,084|0||
|SSF Portfolio 404|Others|||1.32%|4,599,985|0||
|Penghua Motivity Growth Mixed SecuritiesInvestment Fund|Others|||1.19%|4,143,401|0||
|BOCI Securities Limited|Overseas legal person|||0.94%|3,270,654|0||
|Zhongrong International Trust Co., Ltd. - HuixinSecurities Investment Sheet 1 - Fund Trust|Others|||0.74%|2,577,311|0||
|Jiang Youchang|Domestic natural person|||0.62%|2,139,575|0||
|Morgan Stanley Huaxin Advantage Growth StockFund|Others|||0.59%|2,066,300|0||
|||Dalian Bingshan Group Co., Ltd. had the association relationship with Sanyo ElectricCo., Ltd. among the above shareholders. Sanyo Electric Co., Ltd. holds 30% of DalianBingshan Group Co., Ltd.'s equity.||||||
|Notes to the associated relationship and uniform actions of the above||||||||
|shareholders||||||||

(3) Changes in the controlling shareholder and actual controllers
□Applicable √ Not applicable
§3 Discussion and analysis of the management
In the first half of 2014, based on the business philosophy “Leading Innovation, Creating
Value”, although being confronted with many challenges, the Company kept up its spirits, did
real work, and laid stress on integration of internal resources and innovation of business modes to strive for attainment of the business targets, create value for customers and provide
employees with more benefits.
In the report period, the Company made the sales income of 774.91 million yuan, accounting
for45.86% of 1,690 million yuan of theCompany’s annual business indicator for 2014, down
by2.17% from the same period of last year; and the total amount of profit of 73.08 million
yuan, accounting for52.20% of 140 million yuan of theCompany’s annual business indicator
for 2014, up by2.07% from the same period of last year.
In the report period, with paying adequate attention to the conventional markets such as
chemicals, beer, dairy and further food processing, the Company focused on the cold chain
logistics project to improve the comprehensive solution for cold chain logistics, enhance the
packaged technical supports to the market, and actively adapt itself to market changes.
In the report period, the Company simplified the organizational structure and increased the
operation efficiency through the measures such as organizational restructuring and application of the new operating mechanism. With optimization through the monthly operation promotion meeting and the monthly performance assessment meeting, the Company's operation was
digitized and transparentized further, the work planning and predictability were improved, and the performance assessment was more refined and strengthened.
In the report period, the Company actively promoted the informationization construction
projects such as PDM and ERP, and developed construction of the new performance lab orderly.
In the report period, Dalian Sanyo Compressor, as the leading scroll compressor manufacturer in China, accelerated research and development of high-efficiency and low-cost models, and
actively expanded the sales area through building up the cost-related competence. Both the
sales income and the net profit were increased steadily on a year-on-year basis, and the ordered volume of refrigeration projects was increased by about30% on a year-on-year basis.
In the report period, Dalian Sanyo Cold Chain was renamed as Panasonic Cold Chain (Dalian) Co., Ltd. It learnt and absorbed advanced technologies in the world through the platforms such as the 2014 Global Retail Trade Fair in Germany. The production lines for supermarket
showcases and beverage showcases have been reconstructed and upgraded gradually from
manual operation to automatic operation to ensure delivering the best product to customers in
the shortest lead time.
In the report period, Dalian Sanyo Refrigeration further optimized allocation of the resources
for large-size air conditioner business, and made great effort to marketing the two mainstay
products of central air conditioners and commercial air conditioners closely around the current hot topics, i. e. energy saving and emission reduction, waste heat energy utilization and clean
energy utilization.
In the report period, Dalian Fuji-Bingshan actively expanded the beverage producer market
while ensuring stable development of the service provider market. In addition to the market of Coco Cola and Master Kong, the company successfully opened up the market of Nongfu spring and both the sales income and the net profit were increased greatly on a year-on-year basis with the delivered vending machines exceeding 50,000 sets accumulatively.
§4 Events relating to the Financial Report
(1) Changes in accounting policies, estimates or major accounting errors
□ Applicable√ Inapplicable
(2) The changes of the scope of consolidation
□Applicable√Inapplicable
Board of Directors of Dalian Refrigeration Co., Ltd.
August 19, 2014