Securities Code: 000530; 200530 Securities Abbreviation: Bingshan Refrigeration & Heating; Bingshan B Announcement No.: 2022-032

Iceberg Cold & Heat Technology Co., Ltd.

2021 Announcement on the Implementation of the Annual Equity Distribution

Bingshan Cold & Heat Technology Co., Ltd. (the “Company”)’s 2021 annual profit distribution plan was approved at the Company’s 2021 Annual General Meeting held on May 18, 2022. Should the Company’s total share capital change prior to the implementation of the profit distribution, the distribution will be carried out on the principle that the total distribution amount remains unchanged. From the date of disclosure of the profit distribution plan to the date of its implementation, the Company’s total share capital has remained unchanged. The profit distribution plan being implemented this time is consistent with the distribution plan approved by the General Meeting. The period between the approval of the distribution plan by the General Meeting and its implementation does not exceed two months. The details of the profit distribution are hereby announced as follows:

I. Equity Distribution Plan

The Company’s 2021 annual profit distribution plan is as follows:

1. Based on the Company’s existing total share capital of 843,212,507 shares (including 601,712,507 A shares and 241,500,000 B shares), a cash dividend of RMB 0.10 per 10 shares will be distributed to all shareholders (tax inclusive; after tax deduction, QFII and RQFII investors holding shares subject to share-reform lock-up or IPO lock-up, as well as individual investors and mutual funds holding such shares, will receive RMB 0.09 per 10 shares; for individual investors holding shares that are neither subject to share-reform nor IPO lock-up and are freely tradable, the dividend tax will be levied at a differentiated rate: initially RMB 0.10 per 10 shares will be paid, with any additional tax due based on the actual holding period and the extent of share reductions by the investor after the record date; for mutual funds holding shares that are neither subject to share-reform nor IPO lock-up and are freely tradable, the dividend tax applicable to Hong Kong investors’ fund holdings will be levied at 10%, while the portion held by mainland investors will be subject to a differentiated tax rateª; for non-resident enterprises other than QFII and RQFII, the Company will not withhold and remit income tax on their behalf; such tax shall be paid by the taxpayer at the place where the income is earned; for B-share non-resident enterprises, the post-tax cash dividend will be RMB 0.09 per 10 shares, and the dividend tax for domestic (and overseas) individual shareholders will be levied at a differentiated rate: initially RMB 0.10 per 10 shares will be paid, with any additional tax due based on the actual holding period and the extent of share reductions by the investor after the record date.).

[Note: In accordance with the first-in, first-out principle, the holding period is calculated on a per-investor securities account basis. For holdings held for 1 month or less (inclusive), an additional tax of RMB 0.02 shall be paid for every 10 shares; for holdings held for more than 1 month but no more than 1 year (inclusive), an additional tax of RMB 0.01 shall be paid for every 10 shares; for holdings held for more than 1 year, no additional tax is required.]

The cash dividends distributed to B-share shareholders will be paid in Hong Kong dollars, with the conversion rate determined in accordance with the Company’s Articles of Association and based on the central parity rate of the Renminbi against the Hong Kong dollar published by the People’s Bank of China on the first business day following the date of the resolution of the General Meeting of Shareholders (May 19, 2022), namely HKD:RMB = 1:0.8603. Any additional tax that may need to be withheld and remitted on behalf of individual B-share shareholders in the future will be calculated using the aforementioned exchange rate.

II. Record Date and Ex-Dividend/Ex-Right Date

The record date for the A-share dividend distribution is July 7, 2022, and the ex-dividend and ex-rights date is July 8, 2022.

The last trading day for B shares in this equity distribution is July 7, 2022, and the ex-dividend and ex-rights date is July 8, 2022.

III. Recipients of the Equity Distribution

The recipients of this distribution are: all A-share shareholders of the Company whose names appear on the register maintained by the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited (hereinafter referred to as “ChinaClear Shenzhen”) as of the close of trading on the Shenzhen Stock Exchange on July 7, 2022; and all B-share shareholders of the Company whose names appear on the register maintained by ChinaClear Shenzhen as of the close of trading on the Shenzhen Stock Exchange on July 12, 2022 (with July 7, 2022, being the last trading day).

IV. Method of Equity Distribution

The cash dividends for A-share holders entrusted by our company to the Shenzhen Branch of China Securities Depository and Clearing Corporation will be directly credited to their securities accounts via their custodian securities firms (or other custodial institutions) on July 8, 2022.

Cash dividends for B-share holders were directly credited to their securities accounts or bank custody accounts via their respective custodian securities firms or custodian banks on July 12, 2022. If a B-share holder arranged for the transfer of share custody on July 12, 2022, the cash dividend will still be payable through the original custodian securities firm or custodian bank.

The cash dividends for the following A-share shareholders will be distributed by the Company itself:

During the application period for the equity distribution (application date: June 30, 2022, to record date: July 7, 2022), if the cash dividends entrusted to China Securities Depository & Clearing Corporation Shenzhen Branch for distribution are insufficient due to a reduction in the number of shares held in the shareholder’s securities account, our company shall bear all legal liabilities and consequences arising therefrom.

V. Other Matters for Clarification

If any B-share shareholders who are neither domestic individual shareholders nor non-resident enterprises have had income tax withheld on their dividend payments, please contact the Company on or before July 31, 2022, and provide the relevant supporting documentation for verification. Upon confirmation of the validity of such cases, the Company will assist in refunding the withheld tax.

VI. Consultation Procedures

Consultation Address: Securities Regulatory Department of This Company

Contact for inquiries: Du Yu

Consultation Phone: 0086-411-87968822

Fax: 0086-411-87968125

VII. Supporting Documents for Review

1. Resolutions of the Company’s 2021 Annual General Meeting.

2. The Shenzhen Branch of China Securities Depository and Clearing Corporation confirms the document outlining the specific schedule for the distribution of equity interests.

Hereby announced.

Board of Directors of Iceberg Cold & Heat Technology Co., Ltd.

July 2, 2022