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 ofZhejiang NHU Company Ltd. (hereinafter referred to as the “Company”) hereby guarantee that theinformation 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 suchinformation.
2. The Company’s legal representative, the officer in charge of accounting, and the head of accountingdepartment 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 forreference 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 beobtained at www.cninfo.com.cn.
Section I Key Accounting DataⅠ 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
| Items | Q1 2023 | Q1 2022 | Increase/decrease of the current reporting period compared with the same 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 company (yuan) | 643,158,260.22 | 1,203,327,294.72 | 1,203,327,294.72 | -46.55% |
| Net profit attributable to shareholders of listed company after deducting non-recurring profit or loss (yuan) | 586,422,083.91 | 1,142,767,059.69 | 1,142,767,059.69 | -48.68% |
| Net cash flows from operating activities (yuan) | 390,927,539.55 | 422,441,679.66 | 422,441,679.66 | -7.46% |
| 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% |
| Weighted average ROE | 2.69% | 5.36% | 5.36% | Decreased by 2.67 percentage points |
| Items | Mar. 31, 2023 | Dec. 31, 2022 | Increase/decrease of the current reporting period compared with the end of 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 company (yuan) | 24,218,478,672.98 | 23,574,859,468.61 | 23,574,859,468.61 | 2.73% |
[Note] After the implementation of the Company’s 2021 profit distribution plan, its share capital was increased from 2,578,394,760shares to 3,090,907,356 shares. The above EPS of the comparative period was recalculated based on the adjusted share capital.
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, including write-off of provision for impairment | 1,692,680.14 | |
| Government grants included in profit or loss (excluding those closely related to operating activities of the Company, satisfying government policies and regulations, and continuously enjoyed with certain quantity or quota based on certain standards) | 48,562,730.49 | |
| Gains or losses on assets consigned to the third party for investment or management | 3,060,323.07 | |
| 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 financial assets and held-for-trading financial liabilities, excluding those arising from hedging business related to operating activities | 5,499,350.85 | |
| 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 onInformation Disclosure for Companies Offering Their Securities to Public-Non-recurring Profit and loss as non-recurringprofit 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 onInformation Disclosure for Companies Offering Their Securities to Public-Non-recurring Profit and loss as recurringprofit and loss items.
III Major Changes of Main Items in Financial Statements and Financial Indicators within the ReportingPeriod, 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
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. Itwas 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 mainlydue 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 wasmainly 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 mainlydue 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 wasmainly 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. Itwas 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 wasmainly 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 wasmainly 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 dueto 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 periodof last year. It was mainly due to the decrease of financial products purchased during this reporting period.
Section II Shareholders InformationⅠ Total Number of Common Shareholders and Number of Preferred Shareholders with Voting RightsRecovered and Information about Top 10 Shareholders
Unit: share
| Total number of common shareholders at the end of the reporting period | 119,034 | Total number of preferred shareholders whose voting rights have been recovered at the end of the reporting period(if any). | 0 | |||
| Information about top 10 shareholders | ||||||
| Name of shareholder | Nature of shareholder | Shareholding percentage (%) | Quantity of shares | Quantity of restricted shares | Shares pledged, marked or frozen | |
| Status | Quantity | |||||
| NHU Holding Group Co., Ltd. | Domestic non-state-owned legal person | 49.22% | 1,521,362,525 | 0 | ||
| Hong Kong Securities Clearing Company Limited | Overseas legal person | 2.13% | 65,762,645 | 0 | ||
| Shanghai Chongyang Strategic Investment Co., Ltd.－Chongyang Strategic Huizhi Fund | Others | 1.75% | 54,072,200 | 0 | ||
| National Social Security Fund No.503 Portfolio | Others | 1.20% | 37,000,000 | 0 | ||
| China Construction Bank Corporation - E Fund Shanghai and Shenzhen 300 Medical and Health Trading Open-end Index Fund | Others | 0.60% | 18,458,933 | 0 | ||
| Kuwait Investment Authority | Overseas legal person | 0.58% | 17,838,365 | 0 | ||
| Shanghai Chongyang Strategic Investment Co., Ltd. － Chongyang Strategic Yingzhi Fund | Others | 0.53% | 16,248,559 | 0 | ||
| Hu Baishan | Domestic natural person | 0.47% | 14,595,929 | 10,946,947 | ||
| Chongyang Group Co., Ltd. | Others | 0.45% | 13,962,191 | 0 | ||
| Hu Baifan | Domestic natural person | 0.45% | 13,922,998 | 10,442,248 | ||
| Information about top 10 shareholders without trading restrictions | ||||||
| Name of shareholder | Quantity of non-restricted shares | Type of shares | ||||
| Type | Quantity | |||||
| NHU Holding Group Co., Ltd. | 1,521,362,525 | RMB ordinary shares | 1,521,362,525 | |||
| Hong Kong Securities Clearing | 65,762,645 | RMB ordinary | 65,762,645 | |||
| Company Limited | shares | ||
| Shanghai Chongyang Strategic Investment Co., Ltd. － Chongyang Strategic Huizhi Fund | 54,072,200 | RMB ordinary shares | 54,072,200 |
| National Social Security Fund No.503 Portfolio | 37,000,000 | RMB ordinary shares | 37,000,000 |
| China Construction Bank Corporation - E Fund Shanghai and Shenzhen 300 Medical and Health Trading Open-end Index Fund | 18,458,933 | RMB ordinary shares | 18,458,933 |
| Kuwait Investment Authority | 17,838,365 | RMB ordinary shares | 17,838,365 |
| Shanghai Chongyang Strategic Investment Co., Ltd. － Chongyang Strategic Yingzhi Fund | 16,248,559 | RMB ordinary shares | 16,248,559 |
| Chongyang Group Co., Ltd. | 13,962,191 | RMB ordinary shares | 13,962,191 |
| Sanhua Holding Group Co.,Ltd. | 13,772,970 | RMB ordinary shares | 13,772,970 |
| The Company－Employee stock ownership plan phase III | 12,157,826 | RMB ordinary shares | 12,157,826 |
| Explanation on associated relationship or concerted actions among above shareholders | The above shareholder Hu Baishan is the director of NHU Holding Group Co., Ltd. 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. | ||
| Explanation on top 10 shareholders’ participating in securities margin trading (if any) | 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 Co., Ltd. － Chongyang Strategic Yingzhi 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 donot 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
Progress of Investment Project with Raised FundsWith the approval of [2017] No. 1684 document of China Securities Regulatory Commission, the company's leadunderwriter, CSC Securities Co., Ltd., privately issued 175 million common shares (A shares) to specific objects at anissue price of RMB 28.00/share, raising a total of RMB 4,900 million. After deducting the underwriting andrecommendation fees of RMB 30 million yuan (including tax), the raised funds amounted to RMB 4,870 million, whichwas remitted to the raised funds supervision account of the company by the lead underwriter, CSC Securities Co., Ltd. onDecember 7, 2017. In addition, after deducting lawyer fees, audit fees, capital verification fees and other issuanceexpenses of RMB 4.62 million (excluding tax), and considering the deductible VAT input tax of RMB 1.70 million ofunderwriting fees and recommendation fees deducted by the lead underwriter, the net amount of funds raised was RMB4,867.08 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 ofthe 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 StatementsⅠ 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 |
| 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 |
| 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: |
| 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 |
| 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 associates and joint ventures | 20,891,123.71 | 22,194,461.68 |
| 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) | 703,076.55 | 12,731,581.91 |
| 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: net loss) | 646,920,492.73 | 1,207,852,620.67 |
| 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 | 643,158,260.22 | 1,203,327,294.72 |
| 2. Net profit attributable to non-controlling shareholders | 3,762,232.51 | 4,525,325.95 |
| VI. Other comprehensive income after tax | -4,040,484.18 | -1,080,722.73 |
| Items attributable to the owners of the parent company | -5,294,283.73 | -1,915,825.15 |
| (I) Not to be reclassified subsequently to profit or loss | ||
| 1. Changes in remeasurement on the net defined benefit plan |
| 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 loss | -5,294,283.73 | -1,915,825.15 |
| 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 company | 637,863,976.49 | 1,201,411,469.57 |
| Items attributable to non-controlling shareholders | 5,016,032.06 | 5,360,428.37 |
| 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 thecurrent 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 services | 3,550,726,303.68 | 3,613,716,217.09 |
| Net increase of client deposit and interbank deposit | ||
| Net increase of central bank loans | ||
| Net increase of loans from other financial institutions |
| 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 services received | 2,614,897,443.35 | 2,509,609,260.22 |
| 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 activities | 118,637,310.24 | 73,668,959.78 |
| 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 assets | 48,358.32 | 1,561,444.66 |
| 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 assets | 1,128,107,810.80 | 865,447,063.96 |
| Cash payments for investments | 118,754,000.00 |
| Items | Q1 2023 | Q1 2022 |
| Net increase of pledged borrowings | ||
| Net cash payments for the acquisition of subsidiaries & other business units | 5,380,193.64 | |
| Other cash payments related to investing activities | 1,379,122,507.08 | |
| 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 profits and for interest expenses | 76,953,425.37 | 80,697,645.30 |
| Including: Cash paid by subsidiaries to non-controlling shareholders as dividend or profit | ||
| Other cash payments related to financing activities | 363,477.97 | 2,468,007.00 |
| 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 cash & cash equivalents | 16,248,481.54 | -11,350,293.57 |
| V. Net increase in cash and cash equivalents | 532,354,339.64 | 215,566,505.05 |
| 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 | 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 LijinII Independent Auditor’s ReportWhether 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