Securities Code:002001 Securities Abbr:NHU
Zhejiang NHU Company Ltd.
Q1 2024 Report
The Company and whole members of the BOD guarantee that the information disclosed is
authentic, accurate, complete and free from any false records, misleading statements or significant
omissions.
Important Content Reminder:
1. The Board of Directors, Board of Supervisors, directors, supervisors and senior executives of
Zhejiang NHU Company Ltd. (hereinafter referred to as the “Company”) hereby guarantee that
the information presented in this report is authentic, accurate, complete and free of any false
records, misleading statements or material omissions, and they will bear joint and several
liabilities for such information.
2. The Company’s legal representative, the officer in charge of accounting, and the head of
accounting department hereby declare and warrant that the financial information in this report is
authentic, accurate and complete.
3. Whether the First Quarterly Report has been audited or not
□ Yes √ No
This Q1 2024 Report is an English translation of the Chinese Q1 2024 Report. In case the English version does
not conform to the Chinese version, the Chinese version prevails.
1
Securities Code:002001 Securities Abbr:NHU
Section I Key Accounting Data
I. Key accounting data and financial indicators
Whether the Company needs to perform retroactive adjustment or restatement on financial data of prior years
□Yes √No
Increase/decrease of the current
Items Q1 2024 Q1 2023 reporting period compared with the
same period of the previous year
Operating revenue (yuan) 4,498,764,263.04 3,612,227,625.99 24.54%
Net profit attributable to
shareholders of listed 869,622,923.96 643,158,260.22 35.21%
company (yuan)
Net profit attributable to
shareholders of listed
857,468,937.91 586,422,083.91 46.22%
company after deducting non-
recurring profit or loss (yuan)
Net cash flows from operating
480,895,414.07 390,927,539.55 23.01%
activities (yuan)
Basic EPS (yuan/share) 0.28 0.21 33.33%
Diluted EPS (yuan/share) 0.28 0.21 33.33%
Weighted average ROE 3.44% 2.69% Increased by 0.75 percentage points
Increase/decrease of the current
Items Mar. 31, 2024 Dec. 31, 2023 reporting period compared with the end
of the previous year
Total assets (yuan) 39,618,540,405.68 39,156,246,864.67 1.18%
Net assets attributable to
shareholders of listed 25,688,104,169.64 24,804,662,320.99 3.56%
company (yuan)
II Non-recurring Profit or Loss for this Period
√ Applicable □ Not applicable
Unit: RMB yuan
Items Q1 2024 Remarks
Gains or losses on disposal of non-current assets, including write-off of provision for
impairment -2,126,754.10
Government grants included in profit or loss (excluding those closely related to operating
activities of the Company, satisfying government policies and regulations, and 29,883,052.39
continuously enjoyed with certain quantity or quota based on certain standards)
Gains or losses on changes in fair value of held-for-trading financial assets and held-for-
trading financial liabilities, and investment income from disposal of held-for-trading
-12,225,180.80
financial assets and held-for-trading financial liabilities, excluding those arising from
hedging business related to operating activities
Gains or losses on assets consigned to the third party for investment or management 808,128.72
2
Securities Code:002001 Securities Abbr:NHU
Items Q1 2024 Remarks
Other profit and loss items that meet the definition of non-recurring profit or loss 583,353.42
Less: Enterprise income tax affected 4,584,149.25
Non-controlling interest affected (after tax) 184,464.33
Total 12,153,986.05 --
Details of other profit and loss items that meet the definition of non-recurring profit and loss
□ Applicable √ Not applicable
The Company does not have any other profit and loss items that meet the definition of non-recurring profit and loss.
Explanation on defining the non-recurring profit and loss items listed in the No. 1 Explanatory Announcement on Information
Disclosure for Companies Offering Their Securities to Public-Non-recurring Profit and loss as non-recurring profit and loss items.
□ Applicable √ Not applicable
The Company does not define the non-recurring profit and loss items listed in the No. 1 Explanatory Announcement on
Information Disclosure for Companies Offering Their Securities to Public-Non-recurring Profit and loss as recurring profit and
loss items.
III Major Changes of Main Items in Financial Statements and Financial Indicators within the Reporting
Period, as well as the Reasons for the Changes
√ Applicable □Not applicable
1. Balance Sheet Position
（1）The closing balance of Held-for-trading financial assets decreased by 98.31% compared to the closing balance at the
beginning of the year. It was mainly due to the redemption of financial products upon during the reporting period.
（2）The closing balance of Receivables financing increased by 73.62% compared to the closing balance at the beginning of the
year. It was mainly due to an increase in the number of bills received during the reporting period.
（3）The closing balance of Other current assets decreased by 42.77% compared to the closing balance at the beginning of the
year. It was mainly due to the decrease in value-added tax credits during the reporting period.
（4）The closing balance of Deferred tax assets increased by 566.22% compared to the closing balance at the beginning of the
year. It was mainly due to the increase in provision for deferred income tax as a result of the increase in provision for impairment
of assets during the reporting period.
（5）The closing balance of Employee benefits payable decreased by 49.10% compared to the closing balance at the beginning
of the year. It was mainly due to the payment of year-end efficiency awards during the reporting period.
（6）The closing balance of Non-current liabilities due within one year decreased by 33.62% compared to the closing balance at the beginning of the
year. It was mainly due to the return of long-term borrowings due within one year during the reporting period.
3
Securities Code:002001 Securities Abbr:NHU
2. Consolidated Income Statement Position
（1）Taxes and surcharges in the current Q1 period increased by 38.35% compared to the same period of last year. It was mainly
due to the increase in operating revenue during the reporting period, which led to the increase in related tax expenses
（2）Investment income in the current Q1 period decreased by 101.65% compared to the same period of last year. It was mainly
due to the decrease in investment income from associates and gain on disposal of forward exchange products during the reporting
period.
（3）Gains on changes in fair value in the current Q1 period decreased by 1,838.81% compared to the same period of last year. It
was mainly due to the year-on-year decrease in fair value as a result of exchange rate fluctuations during the reporting period.
（4）Credit impairment loss in the current Q1 period increased by 503.69% compared to the same period of last year. It was
mainly due to the increase in credit impairment losses provided for changes in accounts receivable during the reporting period.
（5）Assets impairment loss in the current Q1 period decreased by 57.28% compared to the same period of last year . It was
mainly due to the decrease in impairment losses on assets due to fluctuations in market prices of products during the reporting
period.
（6）Gains on asset disposal in the current Q1 period decreased by 225.64% compared to the same period of last year. It was
mainly due to the decrease in assets disposed of during the reporting period.
（7）Other income in the current Q1 period increased by 32.50% compared to the same period of last year. It was mainly due to
the increase in government grants during the reporting period.
（8）Non-operating revenue in the current Q1 period decreased by 44.56% compared to the same period of last year. It was
mainly due to the decrease in compensation payments received during the reporting period.
（9）Non-operating expenditures in the current Q1 period increased by 94.29% compared to the same period of last year. It was
mainly due to the increase in the scrapping of fixed assets during the reporting period.
（10）Income tax in the current Q1 period increased by 84.53% compared to the same period of last year. It was mainly due to
the increase in total profit during the reporting period.
3、Cash Flow Statement Position
（1）Net cash flows from investing activities in the current Q1 period increased by 48.43% compared to the same period of last
year. It was mainly due to the decrease in investment in construction in progress during the reporting period.
（2）Net cash flows from financing activities in the current Q1 period decreased by 94.14% compared to the same period of last
year. It was mainly due to the increase in the repayment of long-term loans during the reporting period.
4
Securities Code:002001 Securities Abbr:NHU
Section Ⅱ Shareholders Information
Ⅰ Total Number of Common Shareholders and Number of Preferred Shareholders with Voting Rights
Recovered and Information about Top 10 Shareholders
Unit: share
Total number of preferred shareholders whose voting
Total number of common shareholders at the end of
98,469 rights have been recovered at the end of the reporting 0
the reporting period
period
Information about top 10 shareholders（Excluding shares lent through refinancing）
Nature of Holding Quantity of Quantity of Shares pledged, marked or frozen
Shareholders
shareholders proportion shares restricted shares Condition Quantity
Domestic non-
NHU Holding Group Co., Ltd. state-owned 49.80% 1,539,232,431 0 N/A 0
legal person
Hong Kong Securities Clearing Overseas legal
3.64% 112,500,252 0 N/A 0
Company Limited person
Shanghai Chongyang Strategic
Investment Co., Ltd.－Chongyang Others 1.75% 54,072,200 0 N/A 0
Strategic Huizhi Fund
National Social Security Fund
Others 1.29% 39,999,852 0 N/A 0
No.503 Portfolio
The Company－Employee stock
Others 0.96% 29,528,181 0 N/A 0
ownership plan phase IV
China Construction Bank
Corporation - E Fund Shanghai
and Shenzhen 300 Medical and Others 0.72% 22,375,277 0 N/A 0
Health Trading Open-end Index
Fund
China Life Insurance Company
Limited-Traditional-General
Others 0.65% 20,096,250 0 N/A 0
Insurance Products-005L-
ShanghaiCT001
National Social Security Fund
Others 0.58% 18,019,748 0 N/A 0
No.117 Portfolio
Industrial and Commercial Bank
of China Limited - Huatai-
PineBridge Shanghai and Others 0.54% 16,761,679 0 N/A 0
Shenzhen 300 Trading Open-end
Index Fund
Shanghai Chongyang Strategic
Investment Co., Ltd - Chongyang Others 0.53% 16,248,559 0 N/A 0
Strategic Yingzhi Fund
Information about top 10 shareholders without trading restrictions
Category of shares
Shareholders Quantity of non-restricted shares
Category Quantity
RMB ordinary
NHU Holding Group Co., Ltd. 1,539,232,431 1,539,232,431
shares
RMB ordinary
Hong Kong Securities Clearing Company Limited 112,500,252 112,500,252
shares
Shanghai Chongyang Strategic Investment Co., Ltd. RMB ordinary
54,072,200 54,072,200
－Chongyang Strategic Huizhi Fund shares
5
Securities Code:002001 Securities Abbr:NHU
RMB ordinary
National Social Security Fund No.503 Portfolio 39,999,852 39,999,852
shares
The Company－Employee stock ownership plan RMB ordinary
29,528,181 29,528,181
phase IV shares
China Construction Bank Corporation - E Fund
RMB ordinary
Shanghai and Shenzhen 300 Medical and Health 22,375,277 22,375,277
shares
Trading Open-end Index Fund
China Life Insurance Company Limited-
RMB ordinary
Traditional-General Insurance Products-005L- 20,096,250 20,096,250
shares
ShanghaiCT001
RMB ordinary
National Social Security Fund No.117 Portfolio 18,019,748 18,019,748
shares
Industrial and Commercial Bank of China Limited -
RMB ordinary
Huatai-PineBridge Shanghai and Shenzhen 300 16,761,679 16,761,679
shares
Trading Open-end Index Fund
Shanghai Chongyang Strategic Investment Co., Ltd RMB ordinary
16,248,559 16,248,559
- Chongyang Strategic Yingzhi Fund shares
The Company does not know whether other shareholders have relationships and
Explanation on associated relationship or concerted
whether they are persons acting in concert as defined in Administration of the
actions among above shareholders
Takeover of Listed Companies Procedures.
Shanghai Chongyang Strategic Investment Co., Ltd.－Chongyang Strategic Huizhi
Fund holds 54,072,127 shares through client account of collateral securities for margin
Explanation on top 10 shareholders’ participating in trading of Guotai Junan Securities Co., Ltd.; Shanghai Chongyang Strategic
securities margin trading Investment Co., Ltd.－Chongyang Strategic Yingzhi Fund holds 16,248,559 shares
through client account of collateral securities for margin trading of CITIC Securities
Co., Ltd.
Note：The Company’s special securities account for repurchase is attributable to the top 10 shareholders, who however did not
participate in the presentation of such balances.
Shareholders holding more than 5% of shares, top 10 shareholders and top 10 shareholders with unlimited shares in circulation
participating in the lending of shares in the transfer and financing business.
√Applicable □Not applicable
Unit: Share
Participation of shareholders holding more than 5% of the shares, the top 10 shareholders and the top 10 shareholders of non-restricted shares in
the l the lending of shares in the transfer and financing business
Shares borrowed for
Holdings in ordinary Shares borrowed for
securities lending at the Holdings in ordinary
account and credit securities lending at the
beginning of the period account and credit account
account at the beginning end of the period and have
Shareholder name (full and have not yet been at the end of the period
of the period not yet been returned
name) returned
Ratio to Ratio to Ratio to Ratio to
Total Total Total Total
total share total share total share total share
quantity quantity quantity quantity
capital capital capital capital
China Construction Bank
Corporation - E Fund
Shanghai and Shenzhen
22,999,677 0.74% 252,800 0.01% 22,375,277 0.72% 0 0.00%
300 Medical and Health
Trading Open-end Index
Fund
Industrial and Commercial
Bank of China Limited -
Huatai-PineBridge
11,582,159 0.37% 35,600 0.001% 16,761,679 0.54% 0 0.00%
Shanghai and Shenzhen
300 Trading Open-end
Index Fund
6
Securities Code:002001 Securities Abbr:NHU
The top 10 shareholders and the top 10 holders of unlimited shares have experienced changes due to participating in the lending of
shares in the transfer and financing business compared to the previous period.
□ Applicable √Not applicable
II Total Number of Preferred Shareholders and Information about Top 10 Preferred Shareholders
□ Applicable √Not applicable
Section III Other Significant Events
√Applicable □Not applicable
I Progress of the Forth Employee Stock Ownership Plan
The fourth phase of the Employee stock ownership Plan of the Company was reviewed and approved by the first extraordinary
General meeting of shareholders in 2023 held on June 26, 2023. The current employee stock ownership plan is managed by the
Company itself, acquired and held by the Company through the secondary market purchase, with a duration of not more than 24
months. As of September 25, 2023, a total of 29,528,181 shares of the Company have been purchased under the fourth phase of the
employee stock ownership Plan through the secondary market bidding transaction, accounting for 0.9553% of the Company's
existing total share capital, with a total transaction amount of 479,442,157.08 yuan (excluding transaction costs). The average
transaction price was about 16.2368 yuan per share, and the company completed the target stock purchase of the fourth phase of
the employee stock ownership plan. The lock-up period of the underlying shares acquired under the fourth Employee Stock
Ownership Plan is 12 months, calculated from the date of the Company's announcement of the transfer of the last underlying
shares to the plan. For details, please refer to Announcement on the Implementation Progress of the Fourth Employee Stock
Ownership Plan and Completion of Stock Purchase (2023-060) published by the Company on designated information disclosure
media and http://www.cninfo.com.cn.
II Progress of Investment Project with Raised Funds
With the approval of [2017] No. 1684 document of China Securities Regulatory Commission, the company's lead underwriter,
CSC Securities Co., Ltd., privately issued 175 million common shares (A shares) to specific objects at an issue price of RMB
28.00/share, raising a total of RMB 4,900 million. After deducting the underwriting and recommendation fees of RMB 30 million
yuan (including tax), the raised funds amounted to RMB 4,870 million, which was remitted to the raised funds supervision account
of the company by the lead underwriter, CSC Securities Co., Ltd. on December 7, 2017. In addition, after deducting lawyer fees,
audit fees, capital verification fees and other issuance expenses of RMB 4.62 million (excluding tax), and considering the
deductible VAT input tax of RMB 1.70 million of underwriting fees and recommendation fees deducted by the lead underwriter,
the net amount of funds raised was RMB 4,867.08 million. The availability of the above raised funds has been verified by Tianjian
Certified Public Accountants (special general partnership), who issued the capital verification report ([2017] No. 503).
From January 1 to March 31, 2024, the actual use of the raised funds was RMB 146.87mn, and the accumulated investment of the
raised funds project was RMB5,265.67mn. By March 31, 2024, the balance of raised funds was RMB 354.79mn (including
7
Securities Code:002001 Securities Abbr:NHU
financial management and structured deposits, the net amount of accumulated bank deposit interest less bank fees, etc., and bank
financial management income).
The company convened the third meeting of the ninth board of directors and the third meeting of the ninth supervisory board on
April 19, 2024. The "Proposal on the Completion of the Fundraising Investment Project and the Permanent Supplement of the
Surplus Raised Funds to Working Capital" was reviewed and approved. In order to improve the efficiency of the use of surplus
raised funds, it was agreed to terminate the "Annual Production of 250,000 Tons of Methionine Project," which was funded by the
non-public issuance of shares in 2017, and to permanently supplement working capital with the surplus raised funds totaling
354.79 million yuan (the actual amount is subject to the balance in the special account on the day of fund transfer). For details,
please refer to Announcement on Closing Investment Projects with Raised Funds and Permanently Supplementing Working Capital
with Surplus Raised Funds (2024-009) published by the Company on designated information disclosure media and
http://www.cninfo.com.cn.
III Progress of the controlling shareholder in increasing the company's shares
Based on the confidence of the company's future sustainable and stable development and the recognition of the company's value,
to enhance investor confidence, the company's controlling shareholder NHU Holding Group Co., Ltd. plans to increase its shares
of the Company in the next six months from October 26, 2023, through the means permitted by the trading system of Shenzhen
Stock Exchange (including but not limited to centralized bidding, block trading, etc.). The amount of shares to be increased shall
not be less than RMB 200 million and shall not exceed RMB 300 million. There is no price range for this plan, and the plan will be
gradually implemented according to the volatility of the company's stock price and the overall trend of the capital market. By
March 15, 2024, NHU Holding Company has accumulated 17,869,906 shares of the Company, accounting for 0.58% of the total
share capital of the Company, and the cumulative amount of increased holdings is 299,656,526.16 yuan. (excluding transaction
fees). The implementation of this shareholding increase plan is completed. For details, please refer to Announcement on the
Implementation Results of the Plan for Controlling Shareholders to Increase their Holdings of Company Shares (2024-003)
published by the Company on designated information disclosure media and http://www.cninfo.com.cn.
8
Securities Code:002001 Securities Abbr:NHU
Section Ⅳ Quarterly Financial Statements
Ⅰ Financial statements
1. Consolidated Balance Statement
Prepared by Zhejiang NHU Co., Ltd.
Mar 31, 2024
Unit: RMB Yuan
Items Mar 31, 2024 Jan 1, 2024
Current assets:
Cash and bank balances 4,677,644,526.84 4,543,361,146.98
Settlement funds
Loans to other banks
Held-for-trading financial assets 2,917,816.05 173,056,050.95
Derivative financial assets
Notes receivable 133,900,672.52 116,125,267.70
Accounts receivable 2,866,535,904.66 2,483,266,952.88
Receivables financing 575,769,257.90 331,634,090.61
Advances paid 170,031,305.71 209,274,602.05
Premiums receivable
Reinsurance accounts receivable
Reinsurance reserve receivable
Other receivables 158,814,076.21 142,060,705.67
Including: Interest receivable
Dividend receivable
Financial assets under reverse
repo
Inventories: 4,432,336,504.68 4,318,878,875.34
Including: data resources
Contract assets
Assets held for sale
Non-current assets due within
one year
Other current assets 39,050,490.75 68,232,745.03
Total current assets 13,057,000,555.32 12,385,890,437.21
Non-current assets:
Loans and advances
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 702,698,863.06 697,145,200.08
9
Securities Code:002001 Securities Abbr:NHU
Items Mar 31, 2024 Jan 1, 2024
Other equity instrument investments 22,998,147.55 22,998,147.55
Other non-current financial assets
Investment property
Fixed assets 21,806,911,019.52 21,860,082,637.13
Construction in progress 1,476,791,865.63 1,621,882,507.56
Productive biological assets
Oil & gas assets
Right-of-use assets 6,151,209.56 6,603,631.56
Intangible assets 2,390,936,771.75 2,407,560,753.82
Including: data resources
Development expenditures
Including: data resources
Goodwill 3,622,704.97 3,622,704.97
Long-term prepayments 13,106,789.39 11,697,961.72
Deferred tax assets 4,330,941.02 650,079.18
Other non-current assets 133,991,537.91 138,112,803.89
Total non-current assets 26,561,539,850.36 26,770,356,427.46
Total assets 39,618,540,405.68 39,156,246,864.67
Current liabilities:
Short-term borrowings 1,036,760,556.16 1,235,688,062.90
Central bank loans
Loans from other banks
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 397,764,557.87 349,347,472.36
Accounts payable 1,688,031,148.30 1,930,958,598.05
Advances received
Contract liabilities 178,321,443.97 251,008,240.97
Financial liabilities under repo
Absorbing deposit and interbank
deposit
Deposit for agency security
transaction
Deposit for agency security
underwriting
Employee benefits payable 212,888,730.14 418,273,203.88
Taxes and rates payable 288,171,117.75 301,794,080.40
Other payables 38,421,805.70 53,671,773.90
Including: Interest payable
Dividend payable
Handling fee and commission
10
Securities Code:002001 Securities Abbr:NHU
Items Mar 31, 2024 Jan 1, 2024
payable
Reinsurance accounts payable
Liabilities held for sale
Non-current liabilities due within one
1,038,520,760.69 1,564,392,458.67
year
Other current liabilities 19,380,141.84 17,260,124.76
Total current liabilities 4,898,260,262.42 6,122,394,015.89
Non-current liabilities:
Insurance policy reserve
Long-term borrowings 7,625,324,455.80 6,821,643,194.58
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities 4,895,825.27 5,240,136.43
Long-term payables
Long-term employee benefits
payable
Provisions
Deferred income 1,051,572,404.48 1,065,586,274.49
Deferred tax liabilities 234,514,495.48 221,675,090.41
Other non-current liabilities
Total non-current liabilities 8,916,307,181.03 8,114,144,695.91
Total liabilities 13,814,567,443.45 14,236,538,711.80
Equity:
Share capital 3,090,907,356.00 3,090,907,356.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 3,613,332,107.69 3,613,345,485.13
Less: Treasury shares 500,059,711.25 500,059,711.25
Other comprehensive income 101,866,684.29 103,920,732.85
Special reserve 76,747,169.45 60,860,818.76
Surplus reserve 1,545,453,678.00 1,545,453,678.00
General risk reserve
Undistributed profit 17,759,856,885.46 16,890,233,961.50
Total equity attributable to the parent
25,688,104,169.64 24,804,662,320.99
company
Non-controlling interest 115,868,792.59 115,045,831.88
Total equity 25,803,972,962.23 24,919,708,152.87
Total liabilities & equity 39,618,540,405.68 39,156,246,864.67
Legal representative: Hu Baifan Officer in charge of accounting: Shi Guanqun Head of accounting department: He Jiangyong
11
Securities Code:002001 Securities Abbr:NHU
2. Consolidated Income Statement
Unit: RMB Yuan
Items Q1 2024 Q1 2023
I. Total operating revenue 4,498,764,263.04 3,612,227,625.99
Including: Operating revenue 4,498,764,263.04 3,612,227,625.99
Interest income
Premiums earned
Revenue from handling
charges and commission
II. Total operating cost 3,392,556,624.48 2,890,271,348.78
Including: Operating cost 2,922,577,257.11 2,467,400,928.17
Interest expenses
Handling charges and
commission expenditures
Surrender value
Net payment of insurance
claims
Net provision of insurance
policy reserve
Premium bonus expenditures
Reinsurance expenses
Taxes and surcharges 43,193,641.03 31,219,915.01
Selling expenses 34,861,758.30 29,333,288.35
Administrative expenses 146,255,149.81 121,627,278.45
R&D expenses 202,953,832.19 190,075,834.44
Financial expenses 42,714,986.04 50,614,104.36
Including: Interest expenses 70,961,212.48 75,508,647.85
Interest income 31,276,387.97 34,115,367.75
Add: Other income 64,347,613.41 48,562,730.49
Investment income (or less:
-479,516.61 29,071,421.27
losses)
Including: Investment
income from associates and joint 7,648,201.42 20,891,123.71
ventures
Gains from
derecognition of financial assets at
amortized cost
Gains on foreign exchange (or
less: losses)
Gains on net exposure to hedging
risk (or less: losses)
Gains on changes in fair value (or
-12,225,180.80 703,076.55
less: losses)
Credit impairment loss -67,492,764.39 -11,180,108.69
12
Securities Code:002001 Securities Abbr:NHU
Items Q1 2024 Q1 2023
Assets impairment loss -15,697,068.06 -36,747,734.14
Gains on asset disposal (or less:
-2,126,754.10 1,692,680.14
losses)
III. Operating profit (or less: losses) 1,072,533,968.01 754,058,342.83
Add: Non-operating revenue 771,057.25 1,390,722.65
Less: Non-operating expenditures 1,195,649.13 615,398.19
IV. Profit before tax (or less: total loss) 1,072,109,376.13 754,833,667.29
Less: Income tax 199,137,194.36 107,913,174.56
V. Net profit (or less: net loss) 872,972,181.77 646,920,492.73
(I) Categorized by the continuity of
operations
1. Net profit from continuing
872,972,181.77 646,920,492.73
operations (or less: net loss)
2. Net profit from discontinued
operations (or less: net loss)
(II) Categorized by the portion of
equity ownership
1. Net profit attributable to owners
869,622,923.96 643,158,260.22
of parent company
2. Net profit attributable to non-
3,349,257.81 3,762,232.51
controlling shareholders
VI. Other comprehensive income after
-4,580,345.66 -4,040,484.18
tax
Items attributable to the owners of the
-2,054,048.56 -5,294,283.73
parent company
(I) Not to be reclassified
subsequently to profit or loss
1. Changes in remeasurement on
the net defined benefit plan
2. Items under equity method that
will not be reclassified to profit or loss
3. Changes in fair value of other
equity instrument investments
4. Changes in fair value of own
credit risk
5. Others
(II) To be reclassified subsequently
-2,054,048.56 -5,294,283.73
to profit or loss
1. Items under equity method that
may be reclassified to profit or loss
2. Changes in fair value of other
debt investments
3. Profit or loss from
reclassification of financial assets into
other comprehensive income
4. Provision for credit impairment
of other debt investments
5. Cash flow hedging reserve
6. Translation reserve -2,054,048.56 -5,294,283.73
7. Others
Items attributable to non-controlling -2,526,297.10 1,253,799.55
13
Securities Code:002001 Securities Abbr:NHU
Items Q1 2024 Q1 2023
shareholders
VII. Total comprehensive income 868,391,836.11 642,880,008.55
Items attributable to the owners of the
867,568,875.40 637,863,976.49
parent company
Items attributable to non-controlling
822,960.71 5,016,032.06
shareholders
VIII. Earnings per share (EPS):
(I) Basic EPS (yuan per share) 0.28 0.21
(II) Diluted EPS (yuan per share) 0.28 0.21
Net profit realized by the combined party in business combination under common control before the business
combination in the current period was 0.00 yuan, and net profit realized by the combined party in the previous
period was 0.00 yuan.
Legal representative: Hu Baifan Officer in charge of accounting: Shi Guanqun Head of accounting department: He Jiangyong
3. Consolidated Cash Flow Statement
Unit: RMB Yuan
Items Q1 2024 Q1 2023
I. Cash flows from operating
activities:
Cash receipts from sale of goods
3,763,652,141.20 3,550,726,303.68
or rendering of services
Net increase of client deposit and
interbank deposit
Net increase of central bank loans
Net increase of loans from other
financial institutions
Cash receipts from original
insurance contract premium
Net cash receipts from reinsurance
Net increase of policy-holder
deposit and investment
Cash receipts from interest,
handling charges and commission
Net increase of loans from others
Net increase of repurchase
Net cash receipts from agency
security transaction
Receipts of tax refund 178,547,741.15 346,631,062.17
Other cash receipts related to
67,259,965.09 78,534,268.53
operating activities
Subtotal of cash inflows from
4,009,459,847.44 3,975,891,634.38
operating activities
Cash payments for goods 2,383,984,430.92 2,614,897,443.35
14
Securities Code:002001 Securities Abbr:NHU
Items Q1 2024 Q1 2023
purchased and services received
Net increase of loans and
advances to clients
Net increase of central bank
deposit and interbank deposit
Cash payments for insurance
indemnities of original insurance
contracts
Net increase of loans to others
Cash payments for interest,
handling charges and commission
Cash payments for policy bonus
Cash paid to and on behalf of
734,169,746.31 672,992,917.44
employees
Cash payments for taxes and rates 320,977,109.62 178,436,423.80
Other cash payments related to
89,433,146.52 118,637,310.24
operating activities
Subtotal of cash outflows from
3,528,564,433.37 3,584,964,094.83
operating activities
Net cash flows from operating
480,895,414.07 390,927,539.55
activities
II. Cash flows from investing
activities:
Cash receipts from withdrawal of
investments
Cash receipts from investment
1,616.44 23,979,942.47
income
Net cash receipts from the
disposal of fixed assets, intangible 159,744.56 48,358.32
assets and other long-term assets
Net cash receipts from the
disposal of subsidiaries & other
business units
Other cash receipts related to
145,000,000.00 380,000,000.00
investing activities
Subtotal of cash inflows from
145,161,361.00 404,028,300.79
investing activities
Cash payments for the acquisition
of fixed assets, intangible assets and 579,790,051.36 1,128,107,810.80
other long-term assets
Cash payments for investments 118,754,000.00
Net increase of pledged
borrowings
Net cash payments for the
acquisition of subsidiaries & other
business units
Other cash payments related to
15
Securities Code:002001 Securities Abbr:NHU
Items Q1 2024 Q1 2023
investing activities
Subtotal of cash outflows from
579,790,051.36 1,246,861,810.80
investing activities
Net cash flows from investing
-434,628,690.36 -842,833,510.01
activities
III. Cash flows from financing
activities:
Cash receipts from absorbing
investments
Including: Cash received by
subsidiaries from non-controlling
shareholders as investments
Cash receipts from borrowings 1,130,900,749.27 1,625,467,898.96
Other cash receipts related to
financing activities
Subtotal of cash inflows from
1,130,900,749.27 1,625,467,898.96
financing activities
Cash payments for the repayment
1,003,043,623.32 580,139,167.06
of borrowings
Cash payments for distribution of
dividends or profits and for interest 70,968,509.51 76,953,425.37
expenses
Including: Cash paid by
subsidiaries to non-controlling
shareholders as dividend or profit
Other cash payments related to
165,927.89 363,477.97
financing activities
Subtotal of cash outflows from
1,074,178,060.72 657,456,070.40
financing activities
Net cash flows from financing
56,722,688.55 968,011,828.56
activities
IV. Effect of foreign exchange rate
20,565,791.82 16,248,481.54
changes on cash & cash equivalents
V. Net increase in cash and cash
123,555,204.08 532,354,339.64
equivalents
Add: Opening balance of cash and
4,446,570,415.30 5,151,841,931.86
cash equivalents
VI. Closing balance of cash and cash
4,570,125,619.38 5,684,196,271.50
equivalents
Legal representative: Hu Baifan Officer in charge of accounting: Shi Guanqun Head of accounting department: He Jiangyong
16
Securities Code:002001 Securities Abbr:NHU
II Adjustments to financial statements at the beginning of the year of first implementation of new
accounting standards for the first time from 2024 onwards
□ Applicable √Not applicable
III Independent Auditor’s Report
Whether the First Quarterly Report above have been audited.
□Yes √ No
The First Quarterly Report has not been audited.
Board of Directors of Zhejiang NHU Company Ltd.
April 30,2024
17
