冰山B:2024年年度审计报告(英文版)

Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd
For the year ended December 31, 2024
Auditor’s Report
Reference Page
Auditor’s report
Financial statements
— Consolidated balance sheet 1-2
— Balance sheet of parent company 3-4
— Consolidated income statement 5
— Income statement of parent company 6
— Consolidated cash flow statement 7
— Cash flow statement of parent company 8
— Consolidated statements of changes in equity 9-10
— Statements of changes in equity of parent company 11-12
— Notes to financial statement 13-151

Auditors’Report
(English Translation for Reference Only)
To the shareholders of Bingshan Refrigeration & Heat TransferTechnologies Co., Ltd
1.Opinion
We have audited the accompanying financial statements of Bingshan Refrigeration &
Heat Transfer Technologies Co., Ltd (“Bingshan Refrigeration & Heat Company”),
which comprise the consolidated and company’s balance sheets as at 31 December
2024, and the consolidated and company’s income statements, the consolidated and
company’s cash flow statements, the consolidated and company’s statements of
changes in equity for the year then ended, and notes to these financial statements.
In our opinion, the accompanying financial statements have been prepared in
accordance with the requirements of Accounting Standards for Business Enterprises,
in all material respects and present fairly the consolidated and the financial position of
Bingshan Refrigeration & Heat Company as at 31 December 2024, and of their
consolidated and the company’s financial performance and cash flows for the year
then ended.
2.Basis for Opinion
We conducted our audit in accordance with China Standards on Auditing for Chinese
Certified Public Accountants. Our responsibilities under those standards are further
described in the “Auditor’s Responsibilities for the Audit of the Financial Statements”
section of our report. We are independent of Bingshan Refrigeration & Heat Company
in accordance with the Code of Ethics for Chinese Certified Public Accountants, and
we have fulfilled our other ethical responsibilities of the code. We believe that the
audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit.
3.KeyAudit Matters
Key audit matters are those matters that we consider, in our professional judgment,
were of most significance in our audit of the financial statements of the current period.
These matters were addressed in the context of our audit of the financial statements as
a whole and, in forming our audit opinion thereon, and we do not express a separate
opinion on these matters.
Revenue Recognition
KeyAudit Matter How the matter was addressed in the audit
As stated in the Note ‘ No.44,V. The main audit procedures carried out for
Notes to Consolidated Financial addressing the key audit matters are as follows:
Statements’, revenue on the 1. Understand and evaluate effectiveness of
consolidated statements for the year design and operation of the management’s
ended as of December 31, 2024, is internal control over revenue
2. Carried out analytical review and evaluate
4,531.15 million Yuan. Revenue of the reasonableness of sales income and gross
Bingshan Refrigeration & Heat profit margin by segmenting the business and
Company and its subsidiaries sales in conjunction with industry development
mainly come from sales of products and actual situation of Bingshan Refrigeration &
and installation project. We consider Heat Company.
the revenue as the key audit matter, 3. Sampling test the sales contracts, identify the
because of the significance of clause and condition in respect to the contract
revenue to the overall financial performance obligation, consideration and risk
and reward transfer of the ownership. Evaluate
statements, and also the inherent the revenue recognition of Bingshan
risk of revenue manipulation by the Refrigeration & Heat Company whether it is in
management so for the special line with the accounting standards.
purpose. 4. Sampling select product sales revenue
record, reconcile to sales invoice, contracts,
dispatch note, acceptance note; Sampling select
installation sales revenue record, reconcile to
invoice, installation contracts and completion
report and Evaluate the recognition of revenue
whether is in line with the accounting standards
5. Checking actual