Daleng Co., Ltd. is the most complete industry leader in China's cold and hot industrial chain. Through the combination of endogenous growth and joint venture, the company's business covers almost all cold and hot application fields, such as industrial refrigeration, cold chain logistics, central air conditioning and so on. The company's main business platform and business development include: 1) The parent company's main business includes cold chain logistics equipment such as cold storage sets and food cold chain processing, and industrial refrigeration equipment such as refrigeration compressor sets. The driving force for the development of cold chain logistics industry comes from the demand brought by the increase of urbanization rate and consumption upgrading, and the direct driving force comes from the backbone enterprises in downstream food processing and other industries. Therefore, the company takes key customers as the center and ensures to seize the development opportunity of cold chain logistics.

After the change of management at the beginning of the year, the company can focus on business development and internal reform, and the macro economy is slowly recovering. Therefore, we expect the business of the parent company to recover this year.

2) The investment income of the joint venture company will still be the main source of the company's profits. Except for 20 1 1, the investment income of affiliated enterprises accounts for more than 55% of the company's operating profit. The supermarket showcase of Sanyo Cold Chain and the scroll compressor of Sanyo Compressor in the joint venture company are in the leading position in the industry, but due to the overall downturn of the industry, it is expected to increase slightly within 10% this year. In recent years, new businesses such as lithium bromide of Sanyo Refrigeration, automobile air conditioner of Jingbin Ocean and vending machine of Dalian Fuji Iceberg have grown rapidly. Sanyo Refrigeration's absorption heat pump and Fuji Iceberg vending machine will be the highlights of this year's growth.

With the completion of management reform, the internal systematic reform measures have enhanced the company's sustainable development ability. After the new management took office, it carried out systematic reforms in internal assessment, raw material procurement, sales policy and maintenance service, trying to improve efficiency and reduce costs. The new chairman comes from Sanyo Refrigeration, which has developed steadily for many years. Many reform measures come from the successful experience of Sanyo Refrigeration. To adapt to the actual situation of the company, the implementation resistance will be relatively small.