Securities Code:002001 Securities Abbr:NHU
Zhejiang NHU Company Ltd.
Q3 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 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
Retroactive adjustment or restatement of reasons
Accounting policy changes
YoY YoY
Q3 2022 Q1-Q3 2022
Change(%) Change(%)
Items Q3 2023 After Q1-Q3 2023 After
Before After Before After
Adjustment Adjustment
Adjustment Adjustment Adjustment Adjustment
[Note] [Note]
3,593,667, 3,694,978,8 3,694,978,8 11,012,182, 11,910,018, 11,910,018,13
Operating revenue (yuan) -2.74% -7.54%
828.40 56.40 56.40 404.49 133.43 3.43
Net profit attributable to
617,979,82 797,168,419 797,170,816 2,101,209,0 3,011,045,8 3,011,053,031.
shareholders of listed -22.48% -30.22%
company (yuan) 7.61 .00 .89 64.57 38.25 91
Net profit attributable to
shareholders of listed 575,353,20 833,476,722 833,479,120 1,950,572,0 2,927,532,6 2,927,539,865
company after deducting non- -30.97% -33.37%
3.63 .26 .15 89.45 71.88 .54
recurring profit or loss (yuan)
Net cash flows from 2,625,355,7 2,527,486,3 2,527,486,364
- - - - 3.87%
operating activities (yuan) 77.70 64.07 .07
Basic EPS (yuan/share) 0.20 0.26 0.26 -23.08% 0.68 0.98 0.98 -30.61%
Diluted EPS (yuan/share) 0.20 0.26 0.26 -23.08% 0.68 0.98 0.98 -30.61%
Decrease Decrease
0.52 3.98
Weighted average ROE 2.43% 2.95% 2.95% 8.52% 12.50% 12.50%
percentage percentage
points points
December 31, 2022 Change(%)
Items September 30, 2023
Before Adjustment After Adjustment[Note] After Adjustment
Total assets (yuan) 38,774,279,496.58 38,267,625,155.83 38,268,063,792.50 1.32%
Net assets attributable to
shareholders of listed 24,199,557,897.77 23,574,859,468.61 23,574,879,326.24 2.65%
company (yuan)
[Note] On November 30, 2022, the M inistry of Finance ("M OF") issued and implemented ASBE Interpretation No. 16, "Accounting
for Deferred Taxes on Assets and Liabilities Arising from Individual Transactions that are not Subject to the Initial Recognition
Exemption," which became effective on January 1, 2023. If taxable temporary differences and deductible temporary differences arise
from lease liabilities and right-of-use assets recognized as a result of a single transaction to which this provision applies, as well as
projected liabilities related to abandonment obligations and related assets recognized at the beginning of the earliest period in which
the financial statements of the first-time implementation of this provision are presented, the Company will recognize taxable temporary
differences and deductible temporary differences in accordance with the provisions of this provision and Accounting Standard No. 18
- "Income Taxes". -Income Taxes, the Company adjusts the cumulative effect to opening retained earnings and other related financial
statement items in the earliest period for which the financial statements are presented.
2
Securities Code:002001 Securities Abbr:NHU
II Non-recurring gains and losses for this period
√ Applicable □ Not applicable
Unit: RM B
Item Q3 2023 Q1-Q3 2023
Gains or losses on disposal of non-current assets,
2,096,589.04 15,642,367.20
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 39,923,774.00 141,245,452.10
regulations, and continuously enjoyed with certain
quantity or quota based on certain standards)
Gains or losses on assets consigned to the third party
678,988.22 9,573,040.95
for 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
1,032,492.96 -10,235,976.74
held-for-trading financial assets and held-for-trading
financial liabilities, excluding those arising from
hedging business related to operating activities
Other non-operating revenue or expenditures 133,140.36 3,616,526.90
Less: Enterprise income tax affected 1,153,860.09 8,945,815.73
Non-controlling interest affected (after tax) 84,500.51 258,619.56
Total 42,626,623.98 150,636,975.12
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 Sheet Position
(1) The closing balance of held-for-trading financial assets decreased by74.94% compared to the opening balance in this year. It was
mainly due to the maturity of wealth management products by idle raised funds during the reporting period of structured deposits of
financial products.
(2) The closing balance of Notes receivable decreased by 46.93% compared to the opening balance in this year. It was mainly due to
the increase in bankers' acceptance endorsements and due collections during the reporting period.
(3) The closing balance of Other receivables decreased by 55.32% compared to the opening balance in this year. It was mainly due
to the recovery of land deposits during the reporting period.
(4) The closing balance of other current assets decreased by79.39% compared to the opening balance in this year. It was mainly due to
3
Securities Code:002001 Securities Abbr:NHU
the decrease in value-added tax credits during the reporting period.
(5) The closing balance of Long-term equity investments increased by 59.75% compared to the opening balance in this year. It was
mainly due to the investment in the joint venture during the reporting period.
(6) The closing balance of Right-of-use assets increased by 148.62% compared to the opening balance in this year. It was mainly due
to the addition of new housing leases during the reporting period.
(7) The closing balance of Intangible assets increased by 36.16% compared to the opening balance in this year. It was mainly due to
the acquisition of land during the reporting period.
(8) The closing balance of Notes payable decreased by 44.82% compared to the opening balance in this year. It was mainly due to the
settlement of bank acceptances at maturity during the reporting period.
(9) The closing balance of Accounts payable decreased by 32.43% compared to the opening balance in this year. It was mainly due to
the expiration of payments for projects under construction during the reporting period.
(10) The closing balance of Lease liabilities increased by 153.58% compared to the opening balance in this year. It was mainly due to
the addition of new housing leases during the reporting period.
(11) The closing balance of Other comprehensive income increased by 31.26% compared to the opening balance in this year. It was
mainly due to the exchange differences in foreign currency financial statements during the reporting period.
(12) The closing balance of Special reserve increased by 138.34% 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) Taxes and surcharges in the current Q1-Q3 period increased by 30.10% compared to the same period of last year. It was mainly due
to the increase in urban maintenance and construction tax and land use tax in the current Q1-Q3 period.
(2) Financial expenses in the current Q1-Q3 period increased by 89.15% compared to the same period of last year. It was mainly due
to decrease in foreign exchange earnings in the current Q1-Q3 period.
(3) Investment income in the current Q1-Q3 period decreased by40.57% compared to the same period of last year. It was mainly due
to the decrease in investment income from associates and financial management in the current Q1-Q3 period.
(4) Gains on changes in fair value in the current Q1-Q3 period decreased by 79.79% compared to the same period of last year. It was
mainly due to decrease in the fair value provision based on exchange rate fluctuations in the current Q1-Q3 period.
(5) Credit impairment loss in the current Q1-Q3 period decreased by 50.78% 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 in the current Q1-Q3 period.
(6) Assets impairment loss in the current Q1-Q3 period increased by 729.26% compared to the same period of last year. It was mainly
due to an increase in impairment losses on assets based on fluctuations in product market prices in the current Q1-Q3 period.
(7) Gains on asset disposal in the current Q1-Q3 period increased by 1,174.42% compared to the same period of last year. It was mainly
due to the increase in revenue from the recovery of land by the government in the current Q1-Q3 period.
3. Cash Flow Statement Position
(1) Net cash flows from investing activities in the current Q1-Q3 period decreased by 74.84% compared to the same period of last year.
It was mainly due to the decrease in fund-raising for financial management and the increase in expenditure on purchasing and
constructing fixed assets in the current Q1-Q3 period.
(2) Net cash flows from financing activities in the current Q1-Q3 period decreased by 185.32% compared to the same period of last
year. It was mainly due to the repayment of loans in the current Q1-Q3 period.
4
Securities Code:002001 Securities Abbr:NHU
Section Ⅰ 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
116,509 rights have been recovered at the end of the reporting 0
end of the reporting period
period
Information about top 10 shareholders
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.,
state-owned 49.22% 1,521,362,525 0
Ltd.
legal person
Hong Kong Securities
Overseas legal
Clearing Company 2.07% 63,909,072 0
person
Limited
Shanghai Chongyang
Strategic Investment Co.,
Others 1.75% 54,072,200 0
Ltd.－Chongyang
Strategic Huizhi Fund
National Social Security
Others 1.16% 36,000,000 0
Fund No.503 Portfolio
The Company－
Employee stock Others 0.96% 29,528,181 0
ownership plan phase IV
China Construction Bank
Co., Ltd.- E Fund CSI 300
M edicine Health Trading Others 0.94% 29,039,233 0
Open Index Securities
Investment Fund
Shanghai Chongyang
Strategic Investment Co.,
Others 0.53% 16,248,559 0
Ltd.－Chongyang
Strategic Yingzhi Fund
Domestic
Hu Baishan 0.47% 14,595,929 10,946,947
natural person
Domestic non-
Chongyang Group Co.,
state-owned 0.45% 13,962,191 0
Ltd.
legal person
Domestic
Hu Baifan 0.45% 13,922,998 10,442,248
natural person
Information about top 10 shareholders without trading restrictions
Category of shares
Shareholders Quantity of non-restricted shares
Category Quantity
RM B ordinary
NHU Holding Group Co., Ltd. 1,521,362,525 shares 1,521,362,525
Hong Kong Securities Clearing Company RM B ordinary
63,909,072 shares 63,909,072
Limited
Shanghai Chongyang Strategic Investment
RM B ordinary
Co., Ltd. － Chongyang Strategic Huizhi 54,072,200 shares 54,072,200
Fund
National Social Security Fund No.503 RM B ordinary
36,000,000 shares 36,000,000
Portfolio
5
Securities Code:002001 Securities Abbr:NHU
The Company－Employee stock ownership RM B ordinary
29,528,181 shares 29,528,181
plan phase IV
China Construction Bank Co., Ltd.- E Fund
RM B ordinary
CSI 300 M edicine Health Trading Open 29,039,233 shares 29,039,233
Index Securities Investment Fund
Shanghai Chongyang Strategic Investment
RM B ordinary
Co., Ltd.－Chongyang Strategic Yingzhi 16,248,559 shares 16,248,559
Fund
RM B ordinary
Chongyang Group Co., Ltd. 13,962,191 shares 13,962,191
RM B ordinary
Sanhua Holding Group Co., Ltd. 13,772,970 shares 13,772,970
The Company－Employee stock ownership RM B ordinary
12,157,826 12,157,826
plan phase III shares
Among the above shareholders, Hu Baifan is the chairman of the board, general
manager and actural controller of NHU Holding Group Co., Ltd.; Hu Baishan is the
director of NHU Holding Group Co., Ltd., and Hu Baifan and Hu Baishan are brothers,
forming a concerted action relationship. Due to participating in Employee stock
ownership plan phase IV Hu Baifan and Hu Baishan formed an association relationship
Explanation on associated relationship or with The Company－Employee stock ownership plan phase IV, Due to participating in
concerted actions among above shareholders
Employee stock ownership plan phase III, Hu Baishan formed an association
relationship with The Company － Employee stock ownership plan phase III. The
Company does not know whether other 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
Fund holds 54,072,127 shares through client account of collateral securities for margin
trading of Guotai Junan Securities Co., Ltd.; Shanghai Chongyang Strategic Investment
Explanation on top 10 shareholders’ Co., Ltd. － Chongyang Strategic Yingzhi Fund holds 16,248,559 shares through
participating in securities margin trading
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 M erchants 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
Section III Other Significant Events
√Applicable □Not applicable
I Progress of the Forth Employee Stock Ownership Plan
The forth employee stock ownership plan of the Company was deliberated and adopted by the first extraordinary shareholders’ meeting
of 2023 held on June 26, 2023, the current employee stock ownership plan is managed by the Company itself, and the Comp any’s
shares are acquired and held by stock purchase through secondary market, the duration shall not exceed 24 months. The Forth Employee
Stock Ownership Plan completed the stock purchase on September 25, 2023. The company purchased a total of 29,528,181 shares of
the company's stock through secondary market bidding trading, accounting for 0.9553% of the company's total share capital. The total
transaction amount is RM B 479,442,157.08 Yuan, the average price is approximately 16.2368 yuan per share. The lock-in period for
6
Securities Code:002001 Securities Abbr:NHU
the underlying stocks obtained under the Forth Employee Stock Ownership Plan is 12 months, calculating from the date of the
company's announcement of the last transfer of the underlying stocks to the account of the Forth Employee Stock Ownership Plan,
which is from September 26, 2023 to September 25, 2024.
For more details, please refer to Announcement on the Progress of the Implementation of the Fourth Employee Stock Ownership Plan
and the Completion of Stock Purchase (2023-060) published on the company's designated information disclosure media and cninfo
(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 RM B 28.00/share,
raising a total of RM B 4,900 million. After deducting the underwriting and recommendation fees of RM B 30 million yuan (including
tax), the raised funds amounted to RM B 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 RM B 4.62 million (excluding tax), and considering the deductible VAT input t ax of
RM B 1.70 million of underwriting fees and recommendation fees deducted by the lead underwriter, the net amount of funds raised was
RM B 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 September 30, 2023, the actual use of the raised funds was RM B 1,236.83mn, and the accumulated investment of
the raised funds project was RM B 5,015.03mn. By September 30, 2023, the balance of raised funds was RM B 597.70mn (including
bank financial products and structured deposits, the net amount of interest on cash in bank less handling charges and bank financial
products income).
III The BOD and Board of S upervisory Completed Election and Appointed S enior Management Personnel, S ecurities Affairs
Representative, and Internal Audit Leader
The company held second extraordinary general meeting of 2023 on September 19, 2023, and elected non-independent directors Hu
Baifan, Hu Baishan, Shi Guanqun, Wang Xuewen, Wang Zhengjiang, Zhou Guiyang, Yu Hongwei, and independent directors Ji
Jianyang, Shen Yuping, Wan Feng, WangYang, forming the Ninth Board of Directors of the Company. The meeting also elected non-
employee representative supervisors Lv Guofeng, Zhao Jia, Wang Xiaobi, along with employee representative supervisors Yan
Hongyue, Li Huafeng, elected by the company's employee congress, forming the Ninth Board of Supervisors of the Company.
On the same day, the company held the first meeting of the Ninth Board of Directors, elected Hu Baifan as Chairman of the board, Hu
Baishan as Vice Chairman of the board, and elected members of the specialized committees of the Ninth Board of Directors. The Ninth
Board of Directors appointed Hu Baishan as the company's CEO, Shi Guanqun as the secretary of the BOD, Zeng Shuying as the
securities affairs representative, Shi Guanqun, Wang Xuewen, Zhang Liying as the company's vice president, Shi Guanqun as the
company's CFO, and Chen Boxiang as the company's internal audit leader. On the same day, the company held the first meeting of the
Ninth Board of Supervisors, elected Lv Guofeng as Chairman of the Board of Supervisors.
For more details, please refer to Announcement on the Completion of BOD and Board of Supervisory Election and Appointment of
Senior Management Personnel, Securities Affairs Representatives, and Internal Audit Leaders (2023-059) published on the company's
designated information disclosure media and cninfo (http://www.cninfo.com.cn).
7
Securities Code:002001 Securities Abbr:NHU
Section Ⅳ Quarterly Financial Statements
Ⅰ Financial statements
1. Consolidated balance sheet
Prepared by Zhejiang NHU Co., Ltd.
September 30, 2023
Unit: RM B Yuan
Items September 30, 2023 January 1, 2022
Current assets:
Cash and bank balances 4,772,559,191.06 5,343,851,967.72
Settlement funds
Loans to other banks
Held-for-trading financial assets 180,505,849.15 720,314,576.43
Derivative financial assets
Notes receivable 197,749,312.65 372,641,835.79
Accounts receivable 2,253,227,568.08 2,476,269,041.23
Receivables financing 452,988,341.93 379,217,582.25
Advances paid 183,636,005.77 222,336,776.26
Premiums receivable
Reinsurance accounts receivable
Reinsurance reserve receivable
Other receivables 120,444,665.36 269,567,592.73
Including: Interest receivable
Dividend receivable 20,735,987.73
Financial assets under reverse repo
Inventories 4,162,474,301.26 4,144,557,702.39
Contract assets
Assets held for sale
Non-current assets due within one year
Other current assets 37,606,330.67 182,442,976.79
Total current assets 12,361,191,565.93 14,111,200,051.59
Non-current assets:
Loans and advances
Debt investments
8
Securities Code:002001 Securities Abbr:NHU
Items September 30, 2023 January 1, 2022
Other debt investments
Long-term receivables
Long-term equity investments 690,908,249.13 432,503,568.48
Other equity instrument investments 22,998,147.55 22,998,147.55
Other non-current financial assets
Investment property
Fixed assets 17,582,315,503.30 16,523,867,858.53
Construction in progress 5,410,077,305.30 5,089,233,908.22
Productive biological assets
Oil & gas assets
Right-of-use assets 7,036,275.93 2,830,136.37
Intangible assets 2,367,220,474.32 1,738,506,246.32
Development expenditures
Goodwill 3,622,704.97 3,622,704.97
Long-term prepayments 12,858,513.08 13,179,878.45
Deferred tax assets 57,124,316.43 50,250,809.38
Other non-current assets 258,926,440.64 279,870,482.64
Total non-current assets 26,413,087,930.65 24,156,863,740.91
Total assets 38,774,279,496.58 38,268,063,792.50
Current liabilities:
Short-term borrowings 1,844,733,700.55 1,846,373,441.01
Central bank loans
Loans from other banks
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 346,197,907.23 627,438,689.79
Accounts payable 1,469,893,812.61 2,175,458,436.49
Advances received
Contract liabilities 56,856,387.72 60,660,929.75
Financial liabilities under repo
Absorbing deposit and interbank deposit
Deposit for agency security transaction
Deposit for agency security underwriting
9
Securities Code:002001 Securities Abbr:NHU
Items September 30, 2023 January 1, 2022
Employee benefits payable 304,950,182.67 386,391,911.86
Taxes and rates payable 247,912,052.32 208,198,951.94
Other payables 51,078,181.71 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 1,990,471,423.29 2,591,687,706.22
Other current liabilities 4,357,112.78 4,978,299.99
Total current liabilities 6,316,450,760.88 7,968,540,107.39
Non-current liabilities:
Insurance policy reserve
Long-term borrowings 6,772,092,279.53 5,273,637,508.87
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities 7,157,166.35 2,822,404.07
Long-term payables
Long-term employee benefits payable
Provisions
Deferred income 1,088,884,668.22 1,083,159,222.41
Deferred tax liabilities 282,096,957.02 277,735,456.67
Other non-current liabilities
Total non-current liabilities 8,150,231,071.12 6,637,354,592.02
Total liabilities 14,466,681,832.00 14,605,894,699.41
Equity:
Share capital 3,090,907,356.00 3,090,907,356.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 3,613,097,510.81 3,613,097,510.81
Less: Treasury shares 500,059,711.25 500,059,711.25
10
Securities Code:002001 Securities Abbr:NHU
Items September 30, 2023 January 1, 2022
Other comprehensive income 100,516,824.50 76,577,564.17
Special reserve 62,437,981.18 26,196,894.55
Surplus reserve 1,444,413,940.89 1,444,413,940.89
General risk reserve
Undistributed profit 16,388,243,995.64 15,823,745,771.07
Total equity attributable to the parent company 24,199,557,897.77 23,574,879,326.24
Non-controlling interest 108,039,766.81 87,289,766.85
Total equity 24,307,597,664.58 23,662,169,093.09
Total liabilities & equity 38,774,279,496.58 38,268,063,792.50
Legal representative: Hu Baifan Officer in charge of accounting: Shi Guanqun Head of accounting department: Zhang Lijin
2. Consolidated income statement for Q1-Q3
Unit: RM B Yuan
Items Q1~Q3 2023 Q1~Q3 2022
I. Total operating revenue 11,012,182,404.49 11,910,018,133.43
Including: Operating revenue 11,012,182,404.49 11,910,018,133.43
Interest income
Premiums earned
Revenue from handling charges and commission
II. Total operating cost 8,613,037,482.05 8,534,027,513.81
Including: Operating cost 7,317,660,311.35 7,397,206,010.54
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 104,426,959.89 80,266,088.04
Selling expenses 112,299,932.75 88,982,628.60
Administrative expenses 404,120,702.31 344,402,783.49
R&D expenses 630,879,477.56 600,093,376.48
Financial expenses 43,650,098.19 23,076,626.66
Including: Interest expenses 238,838,965.10 236,654,223.33
11
Securities Code:002001 Securities Abbr:NHU
Items Q1~Q3 2023 Q1~Q3 2022
Interest income 108,442,251.78 109,571,188.41
Add: Other income 142,770,997.45 130,273,543.85
Investment income (or less: losses) 47,120,519.14 79,284,084.27
Including: Investment income from associates
36,739,427.92 61,815,175.50
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: losses) -10,812,005.69 -53,501,499.68
Credit impairment loss (or less: losses) 14,776,432.74 30,020,718.39
Assets impairment loss (or less: losses) -100,765,005.00 -12,151,215.72
Gains on asset disposal (or less: losses) 15,642,367.20 1,227,407.46
III. Operating profit (or less: losses) 2,507,878,228.28 3,551,143,658.19
Add: Non-operating revenue 4,743,937.00 4,711,191.13
Less: Non-operating expenditures 2,652,955.45 2,750,908.34
IV Profit before tax (or less: total loss) 2,509,969,209.83 3,553,103,940.98
Less: Income tax 390,773,634.12 529,201,120.85
V Net profit (or less: net loss) 2,119,195,575.71 3,023,902,820.13
(I) Categorized by the continuity of operations
1. Net profit from continuing operations (or less: net
2,119,195,575.71 3,023,902,820.13
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 company 2,101,209,064.57 3,011,053,031.91
2. Net profit attributable to non-controlling
17,986,511.14 12,849,788.22
shareholders
VI. Other comprehensive income after tax 26,702,749.15 32,490,269.90
Items attributable to the owners of the parent company 23,939,260.33 32,251,478.10
(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
12
Securities Code:002001 Securities Abbr:NHU
Items Q1~Q3 2023 Q1~Q3 2022
(II) To be reclassified subsequently to profit or loss 23,939,260.33 32,251,478.10
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 23,939,260.33 32,251,478.10
7. Others
Items attributable to non-controlling shareholders 2,763,488.82 238,791.80
VII. Total comprehensive income 2,145,898,324.86 3,056,393,090.03
(I)Items attributable to the owners of the parent
2,125,148,324.90 3,043,304,510.01
company
(II) Items attributable to non-controlling shareholders 20,749,999.96 13,088,580.02
VIII. Earnings per share (EPS):
(I) Basic EPS (yuan per share) 0.68 0.98
(II) Diluted EPS (yuan per share) 0.68 0.98
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 for Q1~Q3
Unit: RM B Yuan
Items Q1~Q3 2023 Q1~Q3 2022
I. Cash flows from operating activities:
Cash receipts from sale of goods or rendering of
services 11,802,768,128.21 12,071,389,906.85
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
13
Securities Code:002001 Securities Abbr:NHU
Items Q1~Q3 2023 Q1~Q3 2022
Net increase of repurchase
Net cash receipts from agency security transaction
Receipts of tax refund 743,080,725.01 850,452,324.18
Other cash receipts related to operating activities 270,041,812.98 287,124,257.37
Subtotal of cash inflows from operating activities 12,815,890,666.20 13,208,966,488.40
Cash payments for goods purchased and services
received 7,719,463,280.93 8,139,683,463.77
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 1,503,644,860.82 1,437,531,327.11
Cash payments for taxes and rates 683,715,624.20 831,112,937.34
Other cash payments related to operating activities 283,711,122.55 273,152,396.11
Subtotal of cash outflows from operating activities 10,190,534,888.50 10,681,480,124.33
Net cash flows from operating activities 2,625,355,777.70 2,527,486,364.07
II. Cash flows from investing activities:
Cash receipts from withdrawal of investments
Cash receipts from investment income 46,685,586.31 40,762,530.88
Net cash receipts from the disposal of fixed assets,
intangible assets and other long-term assets 151,506.85 6,903,703.28
Net cash receipts from the disposal of subsidiaries &
other business units
Other cash receipts related to investing activities 826,629,111.67 1,827,620,203.77
Subtotal of cash inflows from investing activities 873,466,204.83 1,875,286,437.93
Cash payments for the acquisition of fixed assets,
3,324,737,687.35 2,895,146,588.78
intangible assets and other long-term assets
Cash payments for investments 239,046,899.46
Net increase of pledged borrowings
Net cash payments for the acquisition of subsidiaries
5,589,983.30
& other business units
Other cash payments related to investing activities 180,000,000.00 616,205,784.81
Subtotal of cash outflows from investing activities 3,743,784,586.81 3,516,942,356.89
Net cash flows from investing activities -2,870,318,381.98 -1,641,655,918.96
14
Securities Code:002001 Securities Abbr:NHU
Items Q1~Q3 2023 Q1~Q3 2022
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 4,644,092,688.41 4,749,513,521.52
Other cash receipts related to financing activities
Subtotal of cash inflows from financing activities 4,644,092,688.41 4,749,513,521.52
Cash payments for the repayment of borrowings 3,144,406,430.05 2,350,075,021.90
Cash payments for distribution of dividends or profits
and for interest expenses 1,791,310,007.20 2,051,162,620.80
Including: Cash paid by subsidiaries to non-controlling
shareholders as dividend or profit
Other cash payments related to financing activities 1,747,793.28 4,421,020.29
Subtotal of cash outflows from financing activities 4,937,464,230.53 4,405,658,662.99
Net cash flows from financing activities -293,371,542.12 343,854,858.53
IV Effect of foreign exchange rate changes on cash &
84,195,127.83 -13,554,069.00
cash equivalents
V Net increase in cash and cash equivalents -454,139,018.57 1,216,131,234.64
Add: Opening balance of cash and cash equivalents 5,151,841,931.86 5,714,537,538.23
VI. Closing balance of cash and cash equivalents 4,697,702,913.29 6,930,668,772.87
Legal representative: Hu Baifan Officer in charge of accounting: Shi Guanqun Head of accounting department: Zhang lijin
II 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 27,2023
15
