Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. 2026 Semiannual Report Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. 2026 Semiannual Report August, 2026 Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. 2026 Semiannual Report Section 1 Important Notice, Table of Contents, and Definitions The directors and the Board of Directors, and Senior staff members of Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd.(hereinafter referred to as the Company) hereby confirm that there are not any important omissions, fictitious statements or serious misleading carried in this report, and shall take all responsibilities, individual and/or joint, for the reality, accuracy and completeness of the whole contents. All directors have attended this Board meeting of the Company. There is no significant risk having adverse influence on attainment of the Company's future development strategy and business targets. The paragraph " Management discussion and analysis" in Section 3 of this Semiannual Report describes major risks , including the risk of increasing market competition risk and the accounts receivable is on the high side. See the related sections for the countermeasures to be taken by the Company. The Company plans to distribute no cash dividends, no bonus shares and convert no reserve fund into capital stock. Chairman of the Board of Directors of the Company Mr. Ji Zhijian, Financial Majordomo Mrs. Wang Jinxiu, and the head of Accounting Department Mrs. Wu Bin hereby confirm that the financial report of the semi-annual report is true and complete. 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. Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. 2026 Semiannual Report CONTENTS Section 1 Important Notice, Table of Contents, and Definitions......2 Section 2 About the Company and Main Financia Indicators ......6 Section 3 Management Discussion and Analysis...... 8 Section 4 Corporate Governance......15 Section 5 Important items......16 Section 6 Change in Share Capital and Shareholders' Information......18 Section 7 Bond Related Information ...... 20 Section 8 Financial Report......21 Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. 2026 Semiannual Report Reference Documents 1. The accounting statements bearing the signatures and seals of the legal representative, the financial majordomo and the accountants in charge. 2. The original copies of all the Company's documents and the original copies of the bulletins published on the newspapers designated by the China Securities Regulatory Commission in the report period. 3. Time for reference: from Monday to Friday 8:00 - 11:30 (am) 1:00 - 4:30 (pm) Liaison persons: Mr. Song Wenbao, Ms Du Yu Tel: 0086-411-87968130 Fax: 0086-411-87968125 Bingshan Refrigeration & Heat Transfer Technologies Co., Ltd. 2026 Semiannual Report Definitions Defined item Stands for Meaning Reporting period Stands for From Jan. 1, 2026 to Jun. 30, 2026 The Company, this Company Stands for Bingshan Refrigeration & Heat Transfer Technologies Co.,Ltd. Bingshan Engineering Stands for Dalian Bingshan Group Engineering Co., Ltd.,one of the subsidiaries of the Company where the Company holds 100% of its shares. Bingshan Guardian Stands for Dalian Bingshan Guardian Automation Co., Ltd. one of the subsidiaries of the Company where the Company holds 100% of its shares. Sonyo Compressor (Dalian) Co., Ltd. Formerly