Binghan Refrigeration Completes 100% Acquisition of Service Subsidiary for 21.27 Million Yuan

Binghan Refrigeration (000530) has completed the consolidation of its service division: the company acquired 100% of the shares in Binghan Technical Services (Dalian) Co., Ltd. for 21.2695 million yuan. The deal has been registered with the state authorities, and Binghan Refrigeration is now the sole owner of the service subsidiary.

Deal Terms and Progress

The board of directors of Binghan Refrigeration approved the buyout on August 12, 2026. The shares were distributed among three sellers: Dalian Binghan Group (57%), Dalian Zhonghuida Refrigeration Technology (25%), and Dalian Zhixintong Enterprise Management Partnership (18%). The parties signed a share transfer agreement; upon the agreement taking effect and the completion of registration with the industrial and commercial registration authorities, the deal is considered closed. The relevant disclosures were published on August 13 and November 6, 2026.

Service Subsidiary Profile

Binghan Technical Services (Dalian) was established in December 2014 and specializes in:

• technical consulting, field repair, maintenance, and preventive servicing of complete refrigeration and HVAC equipment;
• spare parts service for industrial refrigeration equipment, technical maintenance, hosting, and upgrading of server rooms;
• operation of the Binghan Industrial Internet platform.

Financial Performance of the Service Subsidiary

As of December 31, 2025:

• total assets — 209.08 million yuan;
• revenue — 171.56 million yuan;
• net profit attributable to shareholders of the parent company — 3.53 million yuan.

For the first half of 2026, revenue was 6.761 million yuan, and net profit (attributable to parent company shareholders) was 2.28 million yuan.

Strategic Rationale

According to Binghan Refrigeration, the acquisition of the full shareholding will accelerate the integration of service operations and deliver synergistic effects. The company intends to expand its server room hosting and operations as well as energy-efficient retrofit segments, deepen its presence in the Chinese aftermarket for refrigeration and HVAC equipment, and develop production service offerings through the Binghan Industrial Internet platform. Upon completion of the deal, Binghan Refrigeration's consolidated revenue and net profit will increase; resources in repair, maintenance, server room hosting, and energy-efficient retrofits will be consolidated under a single structure.

Source: Refrigeration Express.