Cinda Securities released a research report on April 26 stating that it gave the Bingshan Hot and Cold (000530.SZ) buy rating. The main reasons for the rating include: 1) the merger and acquisition business drove rapid revenue growth, and Songyang Compressor's profit performance was impressive; 2) gross margin improved significantly in '23, which is optimistic about a long-term increase in profitability; 3) the reduction in employee remuneration payable in Q1, and the net operating cash outflow remained basically the same year on year. (Mainichi Keizai Shimbun)