An outdoor unit of a refrigeration cycle apparatus, the outdoor unit being connectable to a load device including a first expansion device and an evaporator, the outdoor unit comprising: a first flow path configured to form a circulation flow path through which refrigerant circulates, by being connected to the load device; a compressor and a condenser disposed on the first flow path; a second flow path configured to branch from a branch point on the first flow path downstream of the condenser in a direction in which the refrigerant circulates, and to return, to the compressor, the refrigerant that has passed through the condenser; a second expansion device, a receiver, and a flow rate control valve disposed on the second flow path in order from the branch point; a heat exchanger having a first passage and a second passage and configured to exchange heat between the refrigerant flowing in the first passage and the refrigerant flowing in the second passage, and a controller configured to control the compressor and the flow rate control valve; wherein the first passage of the heat exchanger is disposed between the condenser and the branch point on the first flow path, the second passage of the heat exchanger is disposed between the flow rate control valve and the compressor on the second flow path, and the controller is configured to control the flow rate control valve to adjust an exhaust flow rate of liquid refrigerant from the receiver, characterized in that the controller is configured to, when a pump down operation for recovering the refrigerant to the receiver is started, set a control state of the compressor and the flow rate control valve, at a first time point, to a first state in which the flow rate control valve is closed while the compressor is operated, and the controller is configured to, during the pump down operation, at a second time point after the first time point, transition the control state from the first state to a second state in which the flow rate control valve is opened while the compressor is operated. a first flow path configured to form a circulation flow path through which refrigerant circulates, by being connected to the load device; a compressor and a condenser disposed on the first flow path; a second flow path configured to branch from a branch point on the first flow path downstream of the condenser in a direction in which the refrigerant circulates, and to return, to the compressor, the refrigerant that has passed through the condenser; a second expansion device, a receiver, and a flow rate control valve disposed on the second flow path in order from the branch point; a heat exchanger having a first passage and a second passage and configured to exchange heat between the refrigerant flowing in the first passage and the refrigerant flowing in the second passage, and a controller configured to control the compressor and the flow rate control valve; wherein the first passage of the heat exchanger is disposed between the condenser and the branch point on the first flow path, the second passage of the heat exchanger is disposed between the flow rate control valve and the compressor on the second flow path, and the controller is configured to control the flow rate control valve to adjust an exhaust flow rate of liquid refrigerant from the receiver, characterized in that the controller is configured to, when a pump down operation for recovering the refrigerant to the receiver is started, set a control state of the compressor and the flow rate control valve, at a first time point, to a first state in which the flow rate control valve is closed while the compressor is operated, and the controller is configured to, during the pump down operation, at a second time point after the first time point, transition the control state from the first state to a second state in which the flow rate control valve is opened while the compressor is operated.