Iceberg Cold and Hot: Disclosure of the Dalian Securities Regulatory Bureau's order to correct regulatory measures and the rectification report, with multiple issues being addressed and rectified.

Iceberg Refrigeration (000530.SZ) announced on March 25 that the company and relevant personnel received a corrective regulatory decision from the Dalian Securities Regulatory Bureau on March 2, 2026. Recently, the company disclosed its rectification report, and the relevant rectification matters have been approved by the eighth board meeting of the tenth session.

This rectification involves four major categories of issues: First, the disclosure of related parties and related transactions was inadequate, including failure to pay attention to related transactions involving former executives’ concurrent positions, failure to accurately identify the related party Dalian Shentong Electric, omission of minor related party purchases in the 2024 annual report, and failure to identify indirect related purchases based on the substance over form principle. All related transactions have commercial substance and fair pricing, and the company will supplement its disclosure obligations and improve processes for identifying related parties and transaction accounting. Second, the company’s governance lacks independence; previously, employees concurrently held the seals of both the company and its major shareholder, Iceberg Group, with five departments overlapping with the major shareholder and undisclosed positions held by the secretary of the board at the major shareholder. Currently, the management of the company seal and the overlapping departments have been rectified, and the disclosure of the secretary of the board’s position will be completed by April 30, 2026. Third, the revenue recognition for certain complete equipment engineering business from 2022 to 2024 was not standardized, affecting the accuracy of semi-annual report data. The company will conduct a self-examination and correction of the relevant financial information, with an expected minimal impact on net profit, and the rectification will be completed by April 30, 2026. Fourth, for the 2024 board of directors’ re-election, the integrity records of candidates were not checked. This has now been supplemented, and a regular inquiry mechanism will be established in the future.

Public information shows that the company is a large mixed-ownership enterprise group with many years of history, and it is a leading enterprise in the Chinese refrigeration and air conditioning industry. It is a green equipment manufacturing enterprise that masters the core technologies of refrigeration and is among the top 100 enterprises in the Chinese machinery industry.

The Q3 2025 performance report of Iceberg Refrigeration shows that in the first three quarters of 2025, the company’s operating revenue was 3.613 billion yuan, a year-on-year decrease of 2.73%; net profit was 90.2931 million yuan, a year-on-year decrease of 4.53%.

As of March 26, 10:25 AM, Iceberg Refrigeration’s stock price was 6.05 yuan per share, with a total market value of 5.1 billion. (Produced by “Finance Weekly - Financial Affairs Collection”)

A wealth of information and precise interpretation can be found in the Sina Finance APP.