Securities Code:002001 Securities Abbr: NHU
Zhejiang NHU Company Ltd.
Q1 2023 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
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 First Quarterly Report may be
obtained at www.cninfo.com.cn.
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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
Retroactive adjustment or restatement of reasons
□ Changes in accounting policies □ Correction of accounting errors
□ Business combination under the same control √ Other reasons
Increase/decrease of the
current reporting period
Q1 2022 compared with the same
Items Q1 2023 period of the previous
year
Before adjustment After adjustment After adjustment
Operating revenue (yuan) 3,612,227,625.99 4,307,991,748.95 4,307,991,748.95 -16.15%
Net profit attributable to
shareholders of listed 643,158,260.22 1,203,327,294.72 1,203,327,294.72 -46.55%
company (yuan)
Net profit attributable to
shareholders of listed
company after deducting 586,422,083.91 1,142,767,059.69 1,142,767,059.69 -48.68%
non-recurring profit or loss
(yuan)
Net cash flows from
390,927,539.55 422,441,679.66 422,441,679.66 -7.46%
operating activities (yuan)
Basic EPS (yuan/share) 0.21 0.47 0.39[Note] -46.15%
Diluted EPS (yuan/share) 0.21 0.47 0.39[Note] -46.15%
Decreased by 2.67
Weighted average ROE 2.69% 5.36% 5.36%
percentage points
Increase/decrease of the
current reporting period
Dec. 31, 2022
compared with the end of
Items Mar. 31, 2023
the previous year
Before adjustment After adjustment After adjustment
Total assets (yuan) 39,517,620,455.25 38,267,625,155.83 38,267,625,155.83 3.27%
Net assets attributable to
shareholders of listed 24,218,478,672.98 23,574,859,468.61 23,574,859,468.61 2.73%
company (yuan)
[Note] After the implementation of the Company’s 2021 profit distribution plan, its share capital was increased from 2,578,394,760
shares to 3,090,907,356 shares. The above EPS of the comparative period was recalculated based on the adjusted share capital.
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Securities Code:002001 Securities Abbr: NHU
II Non-recurring Profit or Loss for this Period
√ Applicable □ Not applicable
Unit: RMB yuan
Items Q1 2023 Remarks
Gains or losses on disposal of non-current assets,
1,692,680.14
including 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, 48,562,730.49
and continuously enjoyed with certain quantity or quota
based on certain standards)
Gains or losses on assets consigned to the third party for 3,060,323.07
investment or management
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 5,499,350.85
financial assets and held-for-trading financial liabilities,
excluding those arising from hedging business related to
operating activities
Other non-operating revenue or expenditures 775,324.46
Less: Enterprise income tax affected 2,709,296.68
Non-controlling interest affected (after tax) 144,936.02
Total 56,736,176.31 --
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) Held-for-trading financial assets decreased by 52.80% compared to the closing balance at the beginning of the year . It was
mainly due to the maturity of wealth management products by idle raised funds in the current reporting period.
(2) Other current assets decreased by 62.87% compared to the closing balance at the beginning of the year. It was mainly
3
Securities Code:002001 Securities Abbr: NHU
due to the decrease of VAT to be deducted in the current reporting period.
(3) Long-term equity investments increased by 31.53% compared to the closing balance at the beginning of the year. It
was mainly due to the investment in the joint venture in the current reporting period.
(4) Deferred tax assets increased by 38.03% compared to the closing balance at the beginning of the year. It was mainly
due to the accrual of deferred income tax assets in the current reporting period.
(5) Held-for-trading financial liabilities increased by 100% compared to the closing balance at the beginning of the year.
It was mainly due to the exchange rate change of foreign exchange forward products.
(6) Employee benefits payable decreased by 51.94% compared to the closing balance at the beginning of the year. It was
mainly due to the payment of annual bonus in the current reporting period.
2. Income Statement Position
(1) Other income in the current Q1 period increased by 41.45% compared to the same period of last year. It was mainly
due to the increase of government subsidies.
(2) Gains on changes in fair value in the current Q1 period decreased by 94.48% compared to the same period of last year.
It was mainly due to the decrease of Gains on changes in fair value based on exchange rate fluctuations.
(3) Credit impairment loss in the current Q1 period decreased by 63.13% compared to the same period of last year. It was
mainly due to a decrease in credit impairment losses based on changes in accounts receivable.
(4) Assets impairment loss in the current Q1 period increased by 362.42% compared to the same period of last year. It
was mainly due to the accrued asset impairment provision increased based on fluctuations in product market prices.
(5) Gains on asset disposal in the current Q1 period decreased by 63.83% compared to the same period of last year. It was
mainly due to the decrease in disposed assets.
(6) Non-operating revenue in the current Q1 period increased by 69.67% compared to the same period of last year. It was
mainly due to the increase of compensation payments receive.
(7) Non-operating expenditures in the current Q1 period decreased by 32.48% compared to the same period of last year.
It was mainly due to the decrease of external donations.
(8) Income tax in the current Q1 period decreased by 37.44% compared to the same period of last year. It was mainly due
to the decrease of total profit.
3. Cash Flow Statement Position
(1) Net increase in cash and cash equivalents in the current Q1 period increased by 146.96% compared to the same period
of last year. It was mainly due to the decrease of financial products purchased during this reporting period.
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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
Total number of common shareholders
119,034 voting rights have been recovered at the end of 0
at the end of the reporting period
the reporting period(if any).
Information about top 10 shareholders
Shareholding Shares pledged, marked or
Nature of percentage Quantity of Quantity of frozen
Name of shareholder
shareholder shares restricted shares
(%) Status Quantity
Domestic non-
NHU Holding Group
state-owned 49.22% 1,521,362,525 0
Co., Ltd.
legal person
Hong Kong Securities
Overseas legal
Clearing Company 2.13% 65,762,645 0
person
Limited
Shanghai Chongyang
Strategic Investment
Others 1.75% 54,072,200 0
Co., Ltd.－Chongyang
Strategic Huizhi Fund
National Social
Security Fund No.503 Others 1.20% 37,000,000 0
Portfolio
China Construction
Bank Corporation - E
Fund Shanghai and
Others 0.60% 18,458,933 0
Shenzhen 300 Medical
and Health Trading
Open-end Index Fund
Kuwait Investment Overseas legal
0.58% 17,838,365 0
Authority person
Shanghai Chongyang
Strategic Investment
Co., Ltd. － Others 0.53% 16,248,559 0
Chongyang Strategic
Yingzhi Fund
Domestic
Hu Baishan 0.47% 14,595,929 10,946,947
natural person
Chongyang Group Co.,
Others 0.45% 13,962,191 0
Ltd.
Domestic
Hu Baifan 0.45% 13,922,998 10,442,248
natural person
Information about top 10 shareholders without trading restrictions
Type of shares
Name of shareholder Quantity of non-restricted shares
Type Quantity
RMB ordinary
NHU Holding Group Co., Ltd. 1,521,362,525 1,521,362,525
shares
Hong Kong Securities Clearing 65,762,645 RMB ordinary 65,762,645
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Securities Code:002001 Securities Abbr: NHU
Company Limited shares
Shanghai Chongyang Strategic
RMB ordinary
Investment Co., Ltd. － Chongyang 54,072,200 54,072,200
shares
Strategic Huizhi Fund
National Social Security Fund No.503 RMB ordinary
37,000,000 37,000,000
Portfolio shares
China Construction Bank Corporation -
E Fund Shanghai and Shenzhen 300 RMB ordinary
18,458,933 18,458,933
Medical and Health Trading Open-end shares
Index Fund
RMB ordinary
Kuwait Investment Authority 17,838,365 17,838,365
shares
Shanghai Chongyang Strategic
RMB ordinary
Investment Co., Ltd. － Chongyang 16,248,559 16,248,559
shares
Strategic Yingzhi Fund
RMB ordinary
Chongyang Group Co., Ltd. 13,962,191 13,962,191
shares
RMB ordinary
Sanhua Holding Group Co.,Ltd. 13,772,970 13,772,970
shares
The Company－Employee stock RMB ordinary
12,157,826 12,157,826
ownership plan phase III shares
The above shareholder Hu Baishan is the director of NHU Holding Group Co.,
Explanation on associated relationship Ltd. The Company does not know whether other shareholders have
or concerted actions among above
relationships and whether they are persons acting in concert as defined in
shareholders
Administration of the 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 trading of Guotai Junan Securities Co., Ltd. Shanghai
Explanation on top 10 shareholders’ Chongyang Strategic Investment Co., Ltd. － Chongyang Strategic Yingzhi
participating in securities margin
trading (if any) Fund holds 16,248,461 shares through client account of collateral securities for
margin trading of CITIC Securities Co., Ltd. Chongyang Group Co., Ltd. holds
13,961,946 shares through client account of collateral securities for margin
trading of China Merchants Securities Co., Ltd.
Notes: Zhejiang NHU Co., Ltd. Repurchase Securities Account is among top 10 shareholders at the end of the reporting period, but do
not participate in the listing of the top 10 shareholders of the company.
II Total Number of Preferred Shareholders and Information about Top 10 Preferred Shareholders
□ Applicable √Not applicable
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Securities Code:002001 Securities Abbr: NHU
Section III Other Significant Events
√ Applicable □Not applicable
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).
For the first quarter of 2023, the actual use of the raised funds was RMB 501.30mn, and the accumulated investment of
the raised funds project was RMB 4,279.50mn. By March 31, 2023, the balance of raised funds was RMB 1,318.44mn
(including financial products and structured deposits, the net amount of interest on cash in bank less handling charges,
gains on financial products and structured deposits received on an accumulated basis).
Section IV Quarterly Financial Statements
Ⅰ Financial Statements
1. Consolidated Balance Sheet
Prepared by Zhejiang NHU Co., Ltd.
Mar 31, 2023
Unit: RMB Yuan
Items Mar 31, 2023 Jan 1, 2023
Current assets:
Cash and bank balances 5,864,519,223.74 5,343,851,967.72
Settlement funds
Loans to other banks
Held-for-trading financial assets 340,000,000.00 720,314,576.43
Derivative financial assets
Notes receivable 290,096,752.87 372,641,835.79
Accounts receivable 2,483,287,515.02 2,476,269,041.23
Receivables financing 449,182,003.14 379,217,582.25
Advances paid 167,881,257.66 222,336,776.26
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Securities Code:002001 Securities Abbr: NHU
Items Mar 31, 2023 Jan 1, 2023
Premiums receivable
Reinsurance accounts receivable
Reinsurance reserve receivable
Other receivables 251,474,467.03 269,567,592.73
Including: Interest receivable
Dividend receivable 20,735,987.73
Financial assets under reverse repo
Inventories 4,518,455,983.83 4,144,557,702.39
Contract assets
Assets held for sale
Non-current assets due within one year
Other current assets 67,742,921.68 182,442,976.79
Total current assets 14,432,640,124.97 14,111,200,051.59
Non-current assets:
Loans and advances
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 568,890,752.94 432,503,568.48
Other equity instrument investments 22,998,147.55 22,998,147.55
Other non-current financial assets
Investment property
Fixed assets 17,609,438,777.56 16,523,867,858.53
Construction in progress 4,625,389,843.97 5,089,233,908.22
Productive biological assets
Oil & gas assets
Right-of-use assets 3,051,997.49 2,830,136.37
Intangible assets 1,860,252,554.33 1,738,506,246.32
Development expenditures
Goodwill 3,622,704.97 3,622,704.97
Long-term prepayments 16,245,788.11 13,179,878.45
Deferred tax assets 68,755,406.88 49,812,172.71
Other non-current assets 306,334,356.48 279,870,482.64
Total non-current assets 25,084,980,330.28 24,156,425,104.24
Total assets 39,517,620,455.25 38,267,625,155.83
Current liabilities:
Short-term borrowings 1,940,929,029.36 1,846,373,441.01
Central bank loans
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Securities Code:002001 Securities Abbr: NHU
Items Mar 31, 2023 Jan 1, 2023
Loans from other banks
Held-for-trading financial liabilities 253,075.23
Derivative financial liabilities
Notes payable 570,403,183.55 627,438,689.79
Accounts payable 2,053,767,190.24 2,175,458,436.49
Advances received
Contract liabilities 78,552,685.94 60,660,929.75
Financial liabilities under repo
Absorbing deposit and interbank deposit
Deposit for agency security transaction
Deposit for agency security underwriting
Employee benefits payable 185,699,418.46 386,391,911.86
Taxes and rates payable 232,021,331.90 208,198,951.94
Other payables 54,838,458.32 67,351,740.34
Including: Interest payable
Dividend payable
Handling fee and commission payable
Reinsurance accounts payable
Liabilities held for sale
Non-current liabilities due within one year 3,308,746,729.17 2,591,687,706.22
Other current liabilities 6,294,462.23 4,978,299.99
Total current liabilities 8,431,505,564.40 7,968,540,107.39
Non-current liabilities:
Insurance policy reserve
Long-term borrowings 5,428,721,558.34 5,273,637,508.87
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities 3,110,991.60 2,822,404.07
Long-term payables
Long-term employee benefits payable
Provisions
Deferred income 1,085,425,687.06 1,083,159,222.41
Deferred tax liabilities 258,072,181.96 277,316,677.63
Other non-current liabilities
Total non-current liabilities 6,775,330,418.96 6,636,935,812.98
Total liabilities 15,206,835,983.36 14,605,475,920.37
Equity:
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Securities Code:002001 Securities Abbr: NHU
Items Mar 31, 2023 Jan 1, 2023
Share capital 3,090,907,356.00 3,090,907,356.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 3,613,097,510.81 3,613,097,510.81
Less: Treasury shares 500,059,711.25 500,059,711.25
Other comprehensive income 71,283,280.44 76,577,564.17
Special reserve 31,952,122.43 26,196,894.55
Surplus reserve 1,444,413,940.89 1,444,413,940.89
General risk reserve
Undistributed profit 16,466,884,173.66 15,823,725,913.44
Total equity attributable to the parent company 24,218,478,672.98 23,574,859,468.61
Non-controlling interest 92,305,798.91 87,289,766.85
Total equity 24,310,784,471.89 23,662,149,235.46
Total liabilities & equity 39,517,620,455.25 38,267,625,155.83
Legal representative: Hu Baifan Officer in charge of accounting: Shi Guanqun Head of accounting department: Zhang Lijin
2. Consolidated Income Statement
Unit: RMB Yuan
Items Q1 2023 Q1 2022
I. Total operating revenue 3,612,227,625.99 4,307,991,748.95
Including: Operating revenue 3,612,227,625.99 4,307,991,748.95
Interest income
Premiums earned
Revenue from handling charges and
commission
II. Total operating cost 2,890,271,348.78 2,975,781,501.41
Including: Operating cost 2,467,400,928.17 2,518,094,547.27
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 31,219,915.01 29,871,875.59
Selling expenses 29,333,288.35 22,790,060.34
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Securities Code:002001 Securities Abbr: NHU
Items Q1 2023 Q1 2022
Administrative expenses 121,627,278.45 108,673,875.32
R&D expenses 190,075,834.44 227,817,615.86
Financial expenses 50,614,104.36 68,533,527.03
Including: Interest expenses 75,508,647.85 73,602,297.89
Interest income 34,115,367.75 23,573,114.81
Add: Other income 48,562,730.49 34,331,441.69
Investment income (or less: losses) 29,071,421.27 34,767,170.90
Including: Investment income from
20,891,123.71 22,194,461.68
associates and 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:
703,076.55 12,731,581.91
losses)
Credit impairment loss -11,180,108.69 -30,326,145.11
Assets impairment loss -36,747,734.14 -7,946,770.68
Gains on asset disposal (or less: losses) 1,692,680.14 4,679,172.59
III. Operating profit (or less: losses) 754,058,342.83 1,380,446,698.84
Add: Non-operating revenue 1,390,722.65 819,683.44
Less: Non-operating expenditures 615,398.19 911,475.48
IV. Profit before tax (or less: total loss) 754,833,667.29 1,380,354,906.80
Less: Income tax 107,913,174.56 172,502,286.13
V. Net profit (or less: net loss) 646,920,492.73 1,207,852,620.67
(I) Categorized by the continuity of operations
1. Net profit from continuing operations (or less: 646,920,492.73 1,207,852,620.67
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 of parent
643,158,260.22 1,203,327,294.72
company
2. Net profit attributable to non-controlling 3,762,232.51 4,525,325.95
shareholders
VI. Other comprehensive income after tax -4,040,484.18 -1,080,722.73
Items attributable to the owners of the parent
-5,294,283.73 -1,915,825.15
company
(I) Not to be reclassified subsequently to profit
or loss
1. Changes in remeasurement on the net
defined benefit plan
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Securities Code:002001 Securities Abbr: NHU
Items Q1 2023 Q1 2022
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 -5,294,283.73 -1,915,825.15
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 -5,294,283.73 -1,915,825.15
7. Others
Items attributable to non-controlling shareholders 1,253,799.55 835,102.42
VII. Total comprehensive income 642,880,008.55 1,206,771,897.94
Items attributable to the owners of the parent
637,863,976.49 1,201,411,469.57
company
Items attributable to non-controlling
5,016,032.06 5,360,428.37
shareholders
VIII. Earnings per share (EPS):
(I) Basic EPS (yuan per share) 0.21 0.39
(II) Diluted EPS (yuan per share) 0.21 0.39
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: Zhang Lijin
3. Consolidated Cash Flow Statement
Unit: RMB Yuan
Items Q1 2023 Q1 2022
I. Cash flows from operating activities:
Cash receipts from sale of goods or rendering of 3,550,726,303.68 3,613,716,217.09
services
Net increase of client deposit and interbank
deposit
Net increase of central bank loans
Net increase of loans from other financial
institutions
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Securities Code:002001 Securities Abbr: NHU
Items Q1 2023 Q1 2022
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 346,631,062.17 241,904,618.87
Other cash receipts related to operating activities 78,534,268.53 62,483,265.40
Subtotal of cash inflows from operating activities 3,975,891,634.38 3,918,104,101.36
Cash payments for goods purchased and 2,614,897,443.35 2,509,609,260.22
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 employees 672,992,917.44 633,641,755.96
Cash payments for taxes and rates 178,436,423.80 278,742,445.74
Other cash payments related to operating
118,637,310.24 73,668,959.78
activities
Subtotal of cash outflows from operating activities 3,584,964,094.83 3,495,662,421.70
Net cash flows from operating activities 390,927,539.55 422,441,679.66
II. Cash flows from investing activities:
Cash receipts from withdrawal of investments
Cash receipts from investment income 23,979,942.47 16,343,604.40
Net cash receipts from the disposal of fixed
assets, intangible assets and other long-term 48,358.32 1,561,444.66
assets
Net cash receipts from the disposal of
subsidiaries & other business units
Other cash receipts related to investing activities 380,000,000.00 1,064,294,950.48
Subtotal of cash inflows from investing activities 404,028,300.79 1,082,199,999.54
Cash payments for the acquisition of fixed
assets, intangible assets and other long-term 1,128,107,810.80 865,447,063.96
assets
Cash payments for investments 118,754,000.00
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Securities Code:002001 Securities Abbr: NHU
Items Q1 2023 Q1 2022
Net increase of pledged borrowings
Net cash payments for the acquisition of 5,380,193.64
subsidiaries & other business units
Other cash payments related to investing
1,379,122,507.08
activities
Subtotal of cash outflows from investing activities 1,246,861,810.80 2,249,949,764.68
Net cash flows from investing activities -842,833,510.01 -1,167,749,765.14
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 1,625,467,898.96 1,637,682,567.39
Other cash receipts related to financing activities
Subtotal of cash inflows from financing activities 1,625,467,898.96 1,637,682,567.39
Cash payments for the repayment of borrowings 580,139,167.06 582,292,030.99
Cash payments for distribution of dividends or 76,953,425.37 80,697,645.30
profits and for interest expenses
Including: Cash paid by subsidiaries to non-
controlling shareholders as dividend or profit
Other cash payments related to financing
363,477.97 2,468,007.00
activities
Subtotal of cash outflows from financing activities 657,456,070.40 665,457,683.29
Net cash flows from financing activities 968,011,828.56 972,224,884.10
IV. Effect of foreign exchange rate changes on
16,248,481.54 -11,350,293.57
cash & cash equivalents
V. Net increase in cash and cash equivalents 532,354,339.64 215,566,505.05
Add: Opening balance of cash and cash
5,151,841,931.86 5,714,537,538.23
equivalents
VI. Closing balance of cash and cash equivalents 5,684,196,271.50 5,930,104,043.28
Legal representative: Hu Baifan Officer in charge of accounting: Shi Guanqun Head of accounting department: Zhang Lijin
II 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 21,2023
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