B 
Bingshan Refrigeration & Heat Transfer Technologies Co 000530.SZ · CNY
Industrials · Shenzhen · 🇨🇳 China
9.57
+10.00%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥4.40bn
FY2016FY2025
Net income
CN¥62.0m
FY2016FY2025
Free cash flow
−CN¥70.8m
FY2016FY2025
Shareholders' equity
CN¥3.15bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥4.40bn | CN¥4.53bn | CN¥4.82bn | CN¥2.89bn | CN¥2.09bn | CN¥1.73bn | CN¥1.83bn | CN¥1.97bn | CN¥2.08bn | CN¥1.89bn |
| Gross profit | CN¥741.3m | CN¥713.6m | CN¥758.4m | CN¥289.4m | CN¥174.0m | CN¥274.1m | CN¥297.8m | CN¥300.4m | CN¥417.0m | CN¥339.6m |
| Research and development | CN¥150.0m | CN¥155.5m | CN¥164.2m | CN¥76.8m | CN¥65.3m | CN¥57.4m | CN¥64.3m | CN¥75.8m | CN¥38.1m | CN¥16.8m |
| Operating income | CN¥90.6m | CN¥150.1m | CN¥88.1m | CN¥39.5m | −CN¥272.8m | CN¥21.0m | CN¥84.7m | CN¥135.2m | CN¥224.7m | CN¥159.8m |
| Net income | CN¥62.0m | CN¥110.3m | CN¥49.4m | CN¥18.7m | −CN¥269.1m | CN¥21.3m | CN¥89.1m | CN¥110.5m | CN¥200.8m | CN¥182.2m |
| Diluted earnings per share | 0.09 | 0.14 | 0.06 | 0.01 | -0.33 | 0.03 | 0.11 | 0.13 | 0.22 | 0.21 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥7.60bn | CN¥7.63bn | CN¥8.16bn | CN¥7.60bn | CN¥5.74bn | CN¥5.68bn | CN¥5.53bn | CN¥5.57bn | CN¥5.62bn | CN¥4.98bn |
| Cash and short-term investments | — | CN¥1.04bn | CN¥951.0m | CN¥1.01bn | CN¥522.7m | CN¥373.4m | CN¥332.1m | CN¥343.0m | CN¥394.8m | CN¥679.7m |
| Total liabilities | CN¥4.38bn | CN¥4.44bn | CN¥5.06bn | CN¥4.54bn | CN¥2.69bn | CN¥2.23bn | CN¥2.07bn | CN¥2.11bn | CN¥2.12bn | CN¥1.67bn |
| Debt | CN¥368.3m | CN¥733.7m | CN¥966.1m | CN¥1.06bn | CN¥425.5m | CN¥480.1m | CN¥554.4m | CN¥589.0m | CN¥509.8m | CN¥205.0m |
| Shareholders' equity | CN¥3.15bn | CN¥3.13bn | CN¥3.05bn | CN¥3.01bn | CN¥3.00bn | CN¥3.38bn | CN¥3.38bn | CN¥3.38bn | CN¥3.42bn | CN¥3.25bn |
| Shares outstanding | 695m | 816m | 896m | 1,338m | 819m | 809m | 818m | 838m | 927m | 886m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥122.2m | CN¥237.2m | −CN¥24.4m | −CN¥56.2m | CN¥1.5m | −CN¥13.1m | CN¥12.7m | −CN¥119.7m | −CN¥207.2m | −CN¥7.7m |
| Capital spending | −CN¥193.0m | −CN¥78.7m | −CN¥89.3m | −CN¥50.7m | −CN¥30.7m | −CN¥14.9m | −CN¥114.1m | −CN¥154.1m | −CN¥121.7m | −CN¥339.8m |
| Free cash flow | −CN¥70.8m | CN¥158.4m | −CN¥113.8m | −CN¥107.0m | −CN¥29.2m | −CN¥28.0m | −CN¥101.4m | −CN¥273.7m | −CN¥328.9m | −CN¥347.5m |
| Dividends paid | −CN¥61.3m | −CN¥57.1m | −CN¥41.8m | −CN¥8.4m | −CN¥8.4m | −CN¥30.4m | −CN¥42.2m | −CN¥59.8m | −CN¥71.1m | −CN¥41.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.14bn | CN¥1.04bn | CN¥785.0m | CN¥1.21bn | CN¥1.24bn | CN¥1.16bn | CN¥816.6m | CN¥1.25bn |
| Gross profit | CN¥187.4m | CN¥162.0m | CN¥147.6m | CN¥213.4m | CN¥207.2m | CN¥173.2m | CN¥82.0m | CN¥232.1m |
| Operating income | CN¥32.0m | CN¥29.6m | CN¥19.4m | CN¥11.2m | CN¥60.6m | CN¥39.7m | CN¥12.9m | CN¥28.8m |
| Net income | CN¥26.0m | CN¥21.2m | −CN¥28.3m | CN¥10.8m | CN¥49.4m | CN¥30.1m | CN¥15.8m | CN¥16.0m |
| Diluted earnings per share | 0.04 | 0.03 | -0.04 | 0.02 | 0.07 | 0.04 | 0.02 | 0.02 |
| Cash from operations | — | — | — | −CN¥10.0m | CN¥185.0m | −CN¥187.0m | CN¥282.0m | −CN¥8.0m |
| Capital spending | −CN¥15.0m | −CN¥14.0m | −CN¥81.0m | −CN¥53.0m | −CN¥37.0m | −CN¥20.0m | −CN¥21.0m | −CN¥23.0m |
| Free cash flow | — | — | — | −CN¥63.0m | CN¥148.0m | −CN¥207.0m | CN¥261.0m | −CN¥31.0m |
| Total assets | CN¥7.44bn | CN¥7.34bn | CN¥7.60bn | CN¥7.57bn | CN¥7.45bn | CN¥7.45bn | CN¥7.63bn | CN¥7.69bn |
| Cash and short-term investments | — | — | — | CN¥764.0m | CN¥860.4m | CN¥835.0m | CN¥1.04bn | CN¥747.2m |
| Debt | CN¥304.1m | CN¥368.1m | CN¥368.3m | CN¥949.1m | CN¥573.0m | CN¥663.5m | CN¥714.6m | CN¥1.05bn |
| Shareholders' equity | CN¥3.16bn | CN¥3.18bn | CN¥3.15bn | CN¥3.18bn | CN¥3.17bn | CN¥3.16bn | CN¥3.13bn | CN¥3.12bn |
Financial ratios
Data as of 19 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 16.9% | 15.7% | 15.7% | 10.0% | 8.3% | 15.9% |
| Operating margin | 2.1% | 3.6% | 2.1% | 1.4% | -13.1% | 2.1% |
| Net margin | 1.4% | 2.4% | 1.0% | 0.6% | -12.9% | 1.2% |
| Return on equity | 2.0% | 3.5% | 1.6% | 0.6% | -9.0% | 0.6% |
| Return on assets | 0.8% | 1.4% | 0.6% | 0.2% | -4.7% | 0.4% |
| Free cash flow yield | 5.8% | 5.0% | 0.9% | -0.1% | 0.5% | 0.0% |
| Revenue growth | -2.9% | -5.9% | 66.5% | 38.5% | 21.0% | -5.7% |
| Earnings growth | -43.8% | 123.5% | 163.6% | -107.0% | -1360.8% | -76.1% |
| Current ratio | 1.30x | 1.36x | 1.26x | 1.35x | 1.25x | 1.31x |
| Debt to equity | 0.12x | 0.23x | 0.31x | 0.35x | 0.13x | 0.13x |
| Equity ratio | 41.5% | 41.1% | 37.3% | 39.5% | 52.4% | 59.4% |
| Interest coverage | 4.15x | 4.52x | 2.72x | 1.85x | -13.62x | 1.44x |
| R&D as a share of sales | 3.4% | 3.4% | 3.4% | 2.7% | 3.1% | 3.3% |
| Buybacks as a share of market value | 14.8% | 8.9% | 33.1% | -63.3% | -1.3% | 1.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 15.0% | 20.6% | 10.6% |
| Operating income | 31.8% | 34.0% | -3.5% |
| Net income | 49.1% | 23.8% | -7.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 16.3% | 15.0% | 14.4% | 15.4% |
| Operating margin | 2.7% | 2.2% | 0.6% | 2.9% |
| Net margin | 1.9% | 1.4% | -0.0% | 2.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 81.9 | 44.4 | 96.9 | 320.0 | -17.3 | 184.2 | 36.1 | 25.1 | 24.4 | 37.7 |
| Price to sales | 1.2 | 1.1 | 1.0 | 2.1 | 2.2 | 2.3 | 1.8 | 1.4 | 2.4 | 3.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 29 years. Last went ex-dividend on 10 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.05 | 0.05 | 0.03 | 0.01 | 0.01 | 0.01 | 0.03 | 0.05 |
- 7-for-5 split · 12 Jun 2017
- 3-for-2 split · 3 May 2016
- 1-to-1 reverse split · 9 Jan 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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