Securities Code:002001 Securities Abbr:NHU
Zhejiang NHU Company Ltd.
Q3 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 person in charge of finance and accounting work, and
the person in charge of accounting institution (Accounting Officer) hereby declare and warrant
that the financial statements in this report are authentic, accurate and complete.
3. Whether the Third Quarterly Report has been audited or not
□ Yes √ No
Note:
This Report has been prepared in both Chinese and English version, and the English version is for
reference only. Should there be any discrepancies or misunderstandings between the two versions,
the Chinese versions shall prevail. The complete published Chinese Third Quarterly Report may
be obtained at www.cninfo.com.cn.
1
Securities Code:002001 Securities Abbr:NHU
Section Ⅰ Key Accounting Data
Ⅰ Key Accounting Data and Financial Indicators
Whether the Company needs performed retroactive adjustment or restatement of accounting data in prior years or not
□ Yes √ No
Items Q3 2024 YoY Change(%) Q1-Q3 2024 YoY Change(%)
Operating revenue (yuan) 5,937,027,231.87 65.21% 15,781,739,446.23 43.31%
Net profit attributable to
shareholders of listed 1,785,157,145.05 188.87% 3,989,518,788.01 89.87%
company (yuan)
Net profit attributable to
shareholders of listed
1,724,718,549.44 199.77% 3,882,181,017.14 99.03%
company after deducting non-
recurring profit or loss (yuan)
Net cash flows from operating
— — 4,576,730,480.43 74.33%
activities (yuan)
Basic EPS (yuan/share) 0.58 190.00% 1.29 89.71%
Diluted EPS (yuan/share) 0.58 190.00% 1.29 89.71%
Increase 4.21 Increase 6.70%
Weighted average ROE 6.64% 15.22%
percentage points percentage points
Items September 30, 2024 December 31, 2023 Change(%)
Total assets (yuan) 41,532,120,961.65 39,156,246,864.67 6.07%
Net assets attributable to
shareholders of listed 27,459,182,571.48 24,804,662,320.99 10.70%
company (yuan)
II Non-recurring gains and losses for this period
√ Applicable □ Not applicable
Unit: RM B
Item Q3 2024 Q1-Q3 2024
Gains or losses on disposal of non-current assets, including
-691,176.67 -1,819,619.21
write-off of provision for impairment
Government grants included in profit or loss (excluding
those closely related to operating activities of the
Company, satisfying government policies and regulations, 39,570,519.38 99,388,971.04
and 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
5,221,539.61 775,679.12
financial assets and held-for-trading financial liabilities,
excluding those arising from hedging business related to
operating activities
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Securities Code:002001 Securities Abbr:NHU
Gains or losses on assets consigned to the third party for
-1,631,328.60 -823,199.88
investment or management
Other non-operating revenue or expenditures -691,728.99 -894,825.62
Other items of profit or loss that meet the definition of
27,065,053.26 27,065,053.26
non-recurring profit or loss
Less: Enterprise income tax affected 8,394,503.61 16,249,271.38
Non-controlling interest affected (after tax) 9,778.77 105,016.46
Total 60,438,595.61 107,337,770.87
Remarks on other profit or loss satisfying the definition of non-recurring profit or loss:
□ Applicable √ Not Applicable
The Company has no other profit or loss satisfying the definition of non-recurring profit or loss.
Remarks on defining non-recurring profit or loss listed in the “Interpretation Pronouncement on Information Disclosure Criteria for
Public Companies No. 1 – Non-Recurring Profit or Loss” as recurring profit or loss.
□ Applicable √ Not Applicable
The Company has no situation of defining non-recurring profit or loss listed in the “Interpretation Pronouncement on Information
Disclosure Criteria for Public Companies No. 1 – Non-Recurring Profit or Loss” as recurring profit or loss
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 S heet Position
(1) The closing balance of Cash and bank balances increased by 51.38% compared to the opening balance in this year. It was
mainly due to the increase in operating revenue and the increase in payment collection during the reporting period.
(2) The closing balance of held-for-trading financial assets decreased by 98.53% compared to the opening balance in this year. It
was mainly due to the redemption of bank financial products upon maturity during the reporting period.
(3) The closing balance of Notes receivable increased by 163.62% compared to the opening balance in this year. It was mainly
due to the increase in payment for goods by way of promissory notes during the reporting period.
(4) The closing balance of Accounts receivable increased by 42.31% compared to the opening balance in this year. It was mainly
due to the increase in operating income during the reporting period.
(5) The closing balance of Receivables financing increased by 45.35% compared to the opening balance in this year. It was
mainly due to the increase in payment for goods by way of promissory notes during the reporting period.
(6) The closing balance of Other current assets decreased by 69.14% compared to the opening balance in this year. It was mainly
due to the decrease in value-added tax to be deducted during the reporting period.
3
Securities Code:002001 Securities Abbr:NHU
(7) The closing balance of Construction in progress decreased by 61.80% compared to the opening balance in this year. It was
mainly due to the solidification of projects under construction during the reporting period.
(8) The closing balance of Long-term prepayments increased by 211.38% compared to the opening balance in this year. It was
mainly due to the increase in materials invested for amortization during the reporting period.
(9) The closing balance of Deferred tax assets increased by 590.55% compared to the opening balance in this 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.
(10) The closing balance of Notes payable decreased by 49.79% compared to the opening balance in this year. It was mainly due
to the maturity of bankers' acceptances during the reporting period.
(11) The closing balance of Taxes and rates payable increased by 38.44% compared to the opening balance in this year. It was
mainly due to the increase in operating revenue during the reporting period, which affected the increase in value-added tax and
enterprise income tax payable.
(12) The closing balance of Other payables decreased by 34.76% compared to the opening balance in this year. It was mainly due
to the decrease in the refund of deposit guarantee and provisional payments receivable during the period under review.
(13) The closing balance of Other current liabilities increased by 38.58% compared to the opening balance in this year. It was
mainly due to the increase in advance receipts of goods during the reporting period, which affected the increase in sales tax to be
transferred.
(14) The closing balance of Special reserve increased by 66.73% compared to the opening balance in this year. It was mainly due
to the increase in the provision for production safety expenses during the reporting period.
2. Income Statement Position
(1) Operating revenue in the current Q1-Q3 period increased by 43.31% compared to the same period of last year. It was mainly
due to the increase in volume and price of main products in the nutrition category in the current Q1-Q3 period.
(2) Operating Cost in the current Q1-Q3 period increased by 30.40% compared to the same period of last year. It was mainly due
to the increase in volume of main products in the nutrition category in the current Q1-Q3 period.
(3) Taxes and surcharges in the current Q1-Q3 period increased by 53.26% compared to the same period of last year. It was mainly
due to the increase in city maintenance and construction tax and education surcharge as a result of the increase in operating
revenue in the current Q1-Q3 period.
(4) Financial expenses in the current Q1-Q3 period increased by 202.34% compared to the same period of last year. It was mainly
due to the decrease in foreign exchange gains in the current Q1-Q3 period.
4
Securities Code:002001 Securities Abbr:NHU
(5) Other income in the current Q1-Q3 period increased by 43.01% compared to the same period of last year. It was mainly due to
the increase in government grants in the current Q1-Q3 period.
(6) Gains on changes in fair value in the current Q1-Q3 period increased by 107.17% compared to the same period of last year. It
was mainly due to the increase in fair value as a result of exchange rate fluctuations in the current Q1-Q3 period.
(7) Credit impairment loss in fair value in the current Q1-Q3 period increased by 525.35% 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 in the current Q1-
Q3 period.
(8) Assets impairment loss in fair value in the current Q1-Q3 period decreased by 79.75% 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 in the current
Q1-Q3 period.
(9) Gains on asset disposal in fair value in the current Q1-Q3 period decreased by 111.63% compared to the same p eriod of last
year. It was mainly due to the decrease in assets disposed in the current Q1-Q3 period.
(10) Non-operating expenditures in fair value in the current Q1-Q3 period increased by 162.30% compared to the same period of
last year. It was mainly due to the increase in the scrapping of fixed assets in the current Q1-Q3 period.
(11) Income tax in fair value in the current Q1-Q3 period increased by 95.80% compared to the same period of last year. It was
mainly due to the increase in total profit in the current Q1-Q3 period.
3. Cash Flow Statement Position
(1) Net cash flows from operating activities in the current Q1-Q3 period increased by 74.33% compared to the same period of last
year. It was mainly due to the increase in revenue and the rise in payment collection in the current Q1-Q3 period.
(2) Net cash flows from investing activities in the current Q1-Q3 period increased by 64.93% compared to the same period of last
year. It was mainly due to the decrease in expenditure on the purchase and construction of fixed assets in the current Q1-Q3 period.
(3) Net cash flows from financing activities in the current Q1-Q3 period decreased by 328.44% compared to the same period of last
year. It was mainly due to the decrease in bank loans obtained in the current Q1-Q3 period.
(4) Net increase in cash and cash equivalents in the current Q1-Q3 period increased by 627.71% compared to the same period of last
year. It was mainly due to the increase in payment collection and the decrease in expenditure on the purchase and construction of
fixed assets in the current Q1-Q3 period.
5
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
84,564 rights have been recovered at the end of the reporting 0
the end of the reporting period period
Information about top 10 shareholders(Excluding lending shares through refinancing)
Shares pledged, marked or frozen
Nature of Holding Quantity of Quantity of
Shareholders
shareholders proportion shares restricted shares
Condition Quantity
Domestic non-
NHU Holding Group Co.,
state-owned 49.80% 1,539,232,431 0 N/A 0
Ltd.
legal person
Hong Kong Securities
Overseas legal
Clearing Company 4.11% 127,147,775 0 N/A 0
person
Limited
National Social Security
Others 1.33% 41,000,000 0 N/A 0
Fund No.503 Portfolio
Industrial and
Commercial Bank of
China Limited - Huatai-
Others 1.14% 35,106,321 0 N/A
PineBridge CSI 300
Trading Open-end Index
Fund
Zhejiang NHU Company
Ltd.－Employee stock Others 0.96% 29,528,181 0 N/A 0
ownership plan phase IV
China Construction Bank
Corporation Limited- E
Fund CSI 300 M edical Others 0.94% 28,960,377 0 N/A 0
and Health Trading Open-
end Index Fund
China Construction Bank
Corporation Limited-E
fund CSI 300 exchange- Others 0.76% 23,552,931 0 N/A 0
traded open index initiated
securities investment fund
Shanghai Chongyang
Strategic Investment Co.,
Others 0.52% 15,970,264 0 N/A 0
Ltd.－Chongyang
Strategic Huizhi Fund
Industrial and
Commercial Bank of
China Limited - Huaxia
Others 0.48% 14,959,025 0 N/A 0
CSI 300 exchange-type
open index securities
investment fund
Domestic
Hu Baishan 0.47% 14,595,929 10,946,947 N/A 0
natural person
Information about top 10 shareholders without trading restrictions
(Excluding shares lent through refinancing and executive lock up shares)
Category of shares
Shareholders Quantity of non-restricted shares
Category Quantity
NHU Holding Group Co., Ltd. 1,539,232,431 RM B ordinary 1,539,232,431
shares
6
Securities Code:002001 Securities Abbr:NHU
Hong Kong Securities Clearing Company RM B ordinary
127,147,775 shares 127,147,775
Limited
National Social Security Fund No.503 RM B ordinary
41,000,000 41,000,000
Portfolio shares
Industrial and Commercial Bank of China
RM B ordinary
Limited - Huatai-PineBridge CSI 300 35,106,321 35,106,321
shares
Trading Open-end Index Fund
Zhejiang NHU Company Ltd.－Employee RM B ordinary
29,528,181 29,528,181
stock ownership plan phase IV shares
China Construction Bank Corporation
RM B ordinary
Limited- E Fund CSI 300 M edical and 28,960,377 28,960,377
shares
Health Trading Open-end Index Fund
China Construction Bank Corporation
Limited-E fund CSI 300 exchange-traded RM B ordinary
23,552,931 23,552,931
open index initiated securities investment shares
fund
Shanghai Chongyang Strategic Investment
RM B ordinary
Co., Ltd.－Chongyang Strategic Huizhi 15,970,264 15,970,264
shares
Fund
Industrial and Commercial Bank of China
RM B ordinary
Limited - Huaxia CSI 300 exchange-type 14,959,025 14,959,025
shares
open index securities investment fund
Bank of China., Ltd -Harvest CSI 300
RM B ordinary
exchange-traded open index securities 14,556,351 14,556,351
shares
Investment Fund
Among the above shareholders, Hu Baishan is the director of NHU Holding Group
Co., Ltd. Due to participating in Employee stock ownership plan phase IV Hu
Explanation on associated relationship or
Baishan formed an association relationship with Zhejiang NHU Company Ltd. －
concerted actions among above
Employee stock ownership plan phase IV The Company does not know whether other
shareholders
shareholders have relationships and whether they are persons acting in concert as
defined in Administration of the Takeover of Listed Companies Procedures.
Shanghai Chongyang Strategic Investment Co., Ltd. －Chongyang Strategic Huizhi
Explanation on top 10 shareholders’
participating in securities margin trading Fund holds 15,970,264 shares through client account of collateral securities for margin
trading of Guotai Junan 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
Shareholders with holding proportion over 5% , the top 10 shareholders and the top 10 shareholders' participation in securities lending
and borrowing transactions
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 and have not yet been at the end of the period
of the period not yet been returned
(full 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
Limited- E Fund
CSI 300 M edical 22,999,677 0.74% 252,800 0.01% 28,960,377 0.94% 0 0.00%
and Health Trading
Open-end Index
Fund
7
Securities Code:002001 Securities Abbr:NHU
Shareholders with holding proportion over 5% , the top 10 shareholders and the top 10 shareholders' participation in securities lending
and borrowing transactions
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 and have not yet been at the end of the period
of the period not yet been returned
(full 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
Industrial and
Commercial Bank
of China Limited -
Huatai-PineBridge 11,582,159 0.37% 35,600 0.00% 35,106,321 1.14% 0 0.00%
CSI 300 Trading
Open-end Index
Fund
China Construction
Bank Corporation
Limited-E fund CSI
300 exchange- 4,295,231 0.14% 30,900 0.00% 23,552,931 0.76% 0 0.00%
traded open index
initiated securities
investment fund
Industrial and
Commercial Bank
of China Limited -
Huaxia CSI 300 3,180,561 0.10% 169,200 0.01% 14,959,025 0.48% 0 0.00%
exchange-type open
index securities
investment fund
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 Outward investment and signing of the Investment Cooperation Agreement.
The company held the sixth meeting of the ninth board of directors on July 17, 2024, and convened the first extraordinary general
meeting of shareholders on August 2, 2024. Proposal on Outward Investment and Signing of the Investment Cooperation Agreement
was approved, and the company agreed to sign the Investment Cooperation Agreement with the M anagement Committee of Tianjin
Economic and Technological Development Zone to invest in and construct a nylon new material project in the Nangang Industrial
8
Securities Code:002001 Securities Abbr:NHU
Zone of Tianjin, with a total investment of about 10 billion yuan (subject to the actual investment). For details, please refer to the
relevant announcements published by the company on July 18, 2024, and August 3, 2024, in the designated information disclosur e
media and http://www.cninfo.com.cn .
II 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 forth employee stock ownership plan is managed by the
Company itself, and the company's stocks are 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, from September 26, 2023 to September 25, 2024. As of September 25, 2024, the lock up period of the fourth phase
of the employee stock ownership plan has expired. For details, please refer to the Advisory Announcement on the expiration of the
lock up period for the fourth employee stock ownership plan (2024-035) published by the Company on designated information
disclosure media and http://www.cninfo.com.cn.
Section Ⅳ Quarterly Financial Statements
Ⅰ Financial statements
1. Consolidated balance sheet
Prepared by Zhejiang NHU Co., Ltd.
September 30, 2024
Unit: RM B Yuan
Items September 30, 2024 January 1, 2024
Current assets:
Cash and bank balances 6,877,834,976.38 4,543,361,146.98
Settlement funds
Loans to other banks
Held-for-trading financial assets 2,545,424.04 173,056,050.95
Derivative financial assets
Notes receivable 306,130,028.42 116,125,267.70
Accounts receivable 3,533,939,894.11 2,483,266,952.88
Receivables financing
482,016,376.87 331,634,090.61
Advances paid 219,027,656.26 209,274,602.05
Premiums receivable
9
Securities Code:002001 Securities Abbr:NHU
Items September 30, 2024 January 1, 2024
Reinsurance accounts receivable
Reinsurance reserve receivable
Other receivables 174,244,326.39 142,060,705.67
Including: Interest receivable
Dividend receivable
Financial assets under reverse repo
Inventories 3,571,946,104.14 4,318,878,875.34
Including: Data resources
Contract assets
Assets held for sale
Non-current assets due within one
year
Other current assets 21,054,220.33 68,232,745.03
Total current assets
15,188,739,006.94 12,385,890,437.21
Non-current assets:
Loans and advances
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 855,629,974.63 697,145,200.08
Other equity instrument investments 21,998,147.55 22,998,147.55
Other non-current financial assets
Investment property
Fixed assets
22,155,526,259.09 21,860,082,637.13
Construction in progress 619,609,076.03 1,621,882,507.56
Productive biological assets
Oil & gas assets
Right-of-use assets 5,208,715.59 6,603,631.56
Intangible assets 2,504,690,831.41 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 36,424,580.72 11,697,961.72
10
Securities Code:002001 Securities Abbr:NHU
Items September 30, 2024 January 1, 2024
Deferred tax assets 4,489,150.22 650,079.18
Other non-current assets 136,182,514.50 138,112,803.89
Total non-current assets 26,343,381,954.71 26,770,356,427.46
Total assets 41,532,120,961.65 39,156,246,864.67
Current liabilities:
Short-term borrowings 1,570,443,815.81 1,235,688,062.90
Central bank loans
Loans from other banks
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 175,411,260.30 349,347,472.36
Accounts payable 1,736,907,884.06 1,930,958,598.05
Advances received
Contract liabilities 218,325,989.63 251,008,240.97
Financial liabilities under repo
Absorbing deposit and interbank
deposit
Deposit for agency security
transaction
Deposit for agency security
underwriting
Employee benefits payable 344,704,055.52 418,273,203.88
Taxes and rates payable 417,815,009.15 301,794,080.40
Other payables 35,013,447.82 53,671,773.90
Including: Interest payable
Dividend payable
Handling fee and commission
payable
Reinsurance accounts payable
Liabilities held for sale
Non-current liabilities due within one
1,474,991,230.65 1,564,392,458.67
year
Other current liabilities 23,919,851.40 17,260,124.76
Total current liabilities 5,997,532,544.34 6,122,394,015.89
Non-current liabilities:
Insurance policy reserve
Long-term borrowings 6,620,263,191.08 6,821,643,194.58
11
Securities Code:002001 Securities Abbr:NHU
Items September 30, 2024 January 1, 2024
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities 3,971,553.79 5,240,136.43
Long-term payables
Long-term employee benefits
payable
Provisions
Deferred income 1,049,601,667.25 1,065,586,274.49
Deferred tax liabilities 268,458,241.73 221,675,090.41
Other non-current liabilities
Total non-current liabilities 7,942,294,653.85 8,114,144,695.91
Total liabilities 13,939,827,198.19 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 3,613,345,485.13 3,613,345,485.13
Less: Treasury shares 500,059,711.25 500,059,711.25
Other comprehensive income 111,349,993.63 103,920,732.85
Special reserve 101,472,776.46 60,860,818.76
Surplus reserve 1,545,453,678.00 1,545,453,678.00
General risk reserve
Undistributed profit 19,496,712,993.51 16,890,233,961.50
Total equity attributable to the parent
27,459,182,571.48 24,804,662,320.99
company
Non-controlling interest 133,111,191.98 115,045,831.88
Total equity 27,592,293,763.46 24,919,708,152.87
Total liabilities & equity 41,532,120,961.65 39,156,246,864.67
Legal representative: Hu Baifan Officer in charge of accounting: Shi Guanqun Head of accounting department: He Jiangyong
12
Securities Code:002001 Securities Abbr:NHU
2. Consolidated income statement for Q1-Q3
Unit: RM B Yuan
Items Q1~Q3 2024 Q1~Q3 2023
I. Total operating revenue 15,781,739,446.23 11,012,182,404.49
Including: Operating revenue 15,781,739,446.23 11,012,182,404.49
Interest income
Premiums earned
Revenue from handling charges and commission
II. Total operating cost 11,168,127,903.08 8,613,037,482.05
Including: Operating cost 9,542,295,372.45 7,317,660,311.35
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 160,042,208.27 104,426,959.89
Selling expenses 134,660,406.09 112,299,932.75
Administrative expenses 448,966,347.67 404,120,702.31
R&D expenses 750,191,079.58 630,879,477.56
Financial expenses 131,972,489.02 43,650,098.19
Including: Interest expenses 207,500,271.37 238,838,965.10
Interest income 88,226,976.49 108,442,251.78
Add: Other income 204,181,592.96 142,770,997.45
Investment income (or less: losses) 42,313,966.93 47,120,519.14
Including: Investment income from associates and
19,759,145.86 36,739,427.92
joint 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 less: losses) 775,679.12 -10,812,005.69
Credit impairment loss -62,852,250.50 14,776,432.74
Assets impairment loss -20,401,891.12 -100,765,005.00
Gains on asset disposal (or less: losses) -1,819,619.21 15,642,367.20
13
Securities Code:002001 Securities Abbr:NHU
Items Q1~Q3 2024 Q1~Q3 2023
III. Operating profit (or less: losses) 4,775,809,021.33 2,507,878,228.28
Add: Non-operating revenue 4,840,258.61 4,743,937.00
Less: Non-operating expenditures 6,956,098.91 2,652,955.45
IV Profit before tax (or less: total loss) 4,773,693,181.03 2,509,969,209.83
Less: Income tax
765,133,595.85 390,773,634.12
V Net profit (or less: net loss) 4,008,559,585.18 2,119,195,575.71
(I) Categorized by the continuity of operations
1. Net profit from continuing operations (or less: net loss) 4,008,559,585.18 2,119,195,575.71
2. Net profit from discontinued operations (or less: net loss)
(II) Categorized by the portion of equity ownership
1. Net profit attributable to owners of parent company 3,989,518,788.01 2,101,209,064.57
2. Net profit attributable to non-controlling shareholders 19,040,797.17 17,986,511.14
VI. Other comprehensive income after tax 6,453,823.71 26,702,749.15
Items attributable to the owners of the parent company 7,429,260.78 23,939,260.33
(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 to profit or loss 7,429,260.78 23,939,260.33
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 7,429,260.78 23,939,260.33
7. Others
Items attributable to non-controlling shareholders -975,437.07 2,763,488.82
VII. Total comprehensive income 4,015,013,408.89 2,145,898,324.86
Items attributable to the owners of the parent company 3,996,948,048.79 2,125,148,324.90
Items attributable to non-controlling shareholders 18,065,360.10 20,749,999.96
14
Securities Code:002001 Securities Abbr:NHU
Items Q1~Q3 2024 Q1~Q3 2023
VIII. Earnings per share (EPS):
(I) Basic EPS (yuan per share) 1.29 0.68
(II) Diluted EPS (yuan per share) 1.29 0.68
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 for Q1~Q3
Unit: RM B Yuan
Items Q1~Q3 2024 Q1~Q3 2023
I. Cash flows from operating activities:
Cash receipts from sale of goods or rendering of services 14,208,584,079.52 11,802,768,128.21
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 504,347,584.09 743,080,725.01
Other cash receipts related to operating activities 240,289,766.80 270,041,812.98
Subtotal of cash inflows from operating activities 14,953,221,430.41 12,815,890,666.20
Cash payments for goods purchased and services received 7,336,303,377.94 7,719,463,280.93
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 employees 1,617,381,639.35 1,503,644,860.82
Cash payments for taxes and rates 1,122,310,348.10 683,715,624.20
15
Securities Code:002001 Securities Abbr:NHU
Items Q1~Q3 2024 Q1~Q3 2023
Other cash payments related to operating activities 300,495,584.59 283,711,122.55
Subtotal of cash outflows from operating activities 10,376,490,949.98 10,190,534,888.50
Net cash flows from operating activities 4,576,730,480.43 2,625,355,777.70
II. Cash flows from investing activities:
Cash receipts from withdrawal of investments
1,000,000.00
Cash receipts from investment income 16,201,616.44 46,685,586.31
Net cash receipts from the disposal of fixed assets, intangible
168,096.15 151,506.85
assets and other long-term assets
Net cash receipts from the disposal of subsidiaries & other
80,930,328.36
business units
Other cash receipts related to investing activities 145,000,000.00 826,629,111.67
Subtotal of cash inflows from investing activities
243,300,040.95 873,466,204.83
Cash payments for the acquisition of fixed assets, intangible
1,094,155,338.30 3,324,737,687.35
assets and other long-term assets
Cash payments for investments 155,675,400.17 239,046,899.46
Net increase of pledged borrowings
Net cash payments for the acquisition of subsidiaries & other
business units
Other cash payments related to investing activities 180,000,000.00
Subtotal of cash outflows from investing activities 1,249,830,738.47 3,743,784,586.81
Net cash flows from investing activities -1,006,530,697.52 -2,870,318,381.98
III. Cash flows from financing activities:
Cash receipts from absorbing investments 1,937,026.75
Including: Cash received by subsidiaries from non-
1,937,026.75
controlling shareholders as investments
Cash receipts from borrowings 3,650,675,987.22 4,644,092,688.41
Other cash receipts related to financing activities
Subtotal of cash inflows from financing activities 3,652,613,013.97 4,644,092,688.41
Cash payments for the repayment of borrowings 3,325,398,021.09 3,144,406,430.05
Cash payments for distribution of dividends or profits and for
1,582,572,282.67 1,791,310,007.20
interest expenses
Including: Cash paid by subsidiaries to non-controlling
shareholders as dividend or profit
Other cash payments related to financing activities 1,574,805.01 1,747,793.28
Subtotal of cash outflows from financing activities 4,909,545,108.77 4,937,464,230.53
Net cash flows from financing activities -1,256,932,094.80 -293,371,542.12
IV Effect of foreign exchange rate changes on cash & cash
83,273,351.20 84,195,127.83
equivalents
V Net increase in cash and cash equivalents 2,396,541,039.31 -454,139,018.57
16
Securities Code:002001 Securities Abbr:NHU
Items Q1~Q3 2024 Q1~Q3 2023
Add: Opening balance of cash and cash equivalents 4,446,570,415.30 5,151,841,931.86
VI. Closing balance of cash and cash equivalents 6,843,111,454.61 4,697,702,913.29
Legal representative: Hu Baifan Officer in charge of accounting: Shi Guanqun Head of accounting department: He Jiangyong
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 financial statements above have been audited by an independent auditor.
□Yes √ No
These financial statements have not been audited by such an auditor.
Board of Directors of Zhejiang NHU Company Ltd
October 24,2024
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