Zhejiang NHU Company Ltd.
Q1 2022 Report
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 ofaccounting department hereby declare and warrant that the financial information in this report isauthentic, 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 IndicatorsWhether the company needs performed retroactive adjustment or restatement of accounting data in prior years or not
√ Yes □ No
Retroactive adjustment or restatement of reasonsChanges in accounting policies and other reasons
| Items | Q1 2022 | Q1 2021 | Increase/decrease of the current reporting period compared with the same period of the previous year | |
| Before adjustment | After adjustment[Note2] | After adjustment | ||
| Operating revenue (yuan) | 4,307,991,748.95 | 3,743,831,818.61 | 3,790,255,566.08 | 13.66% |
| Net profit attributable to shareholders of listed company (yuan) | 1,203,327,294.72 | 1,136,774,983.04 | 1,144,090,085.76 | 5.18% |
| Net profit attributable to shareholders of listed company after deducting non-recurring profit or loss (yuan) | 1,142,767,059.69 | 1,090,734,420.46 | 1,098,049,523.18 | 4.07% |
| Net cash flows from operating activities (yuan) | 422,441,679.66 | 1,076,704,398.64 | 1,084,019,501.36 | -61.03% |
| Basic EPS (yuan/share) | 0.47 | 0.44[Note1] | 0.44 | 6.82% |
| Diluted EPS (yuan/share) | 0.47 | 0.44[Note1] | 0.44 | 6.82% |
| Weighted average ROE | 5.36% | 5.71% | 5.75% | Decreased by 0.39 percentage points |
| Items | Mar. 31, 2022 | Dec. 31, 2021 | Increase/decrease of the current reporting period compared with the end of the previous year | |
| Before adjustment | After adjustment[Note2] | After adjustment | ||
| Total assets (yuan) | 36,866,945,527.18 | 34,692,165,111.88 | 34,724,025,476.79 | 6.17% |
| Net assets attributable to shareholders of listed company (yuan) | 22,923,397,133.57 | 21,799,977,645.94 | 21,831,838,010.85 | 5.00% |
[Note1] After the implementation of the Company’s 2020 profit distribution plan, its share capital was increased from 2,148,662,300shares to 2,578,394,760 shares. The above EPS of the comparative period was recalculated based on the adjusted share capital.[Note2] The company has implemented The Interpretation of Accounting Standards for Business Enterprises No. 15 since January 1,2022. The interpretation requires that if the company sells the products or by-products produced before the fixed assets reach theexpected serviceable state or during the research and development process, the income and cost related to the trial operation sales
shall be accounted for separately and included in the current profit and loss, The net amount of the revenue from trial operation salesafter offsetting the relevant costs shall not be used to offset the cost of fixed assets or R&D expenses. The company makes retroactiveadjustment according to requirements.II Non-recurring Profit or Loss for this Period
√ Applicable □ Not applicable
Unit: RMB yuan
| Items | Q1 2022 | Remarks |
| Gains or losses on disposal of non-current assets, including write-off of provision for impairment | 4,679,172.59 | |
| 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) | 33,227,394.33 | |
| Gains or losses on assets consigned to the third party for investment or management | 8,305,996.39 | |
| 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 | 16,998,294.74 | |
| Other non-operating revenue or expenditures | 1,012,255.32 | |
| Less: Enterprise income tax affected | 3,636,037.36 | |
| Non-controlling interest affected (after tax) | 26,840.98 | |
| Total | 60,560,235.03 | -- |
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 asnon-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 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) The closing balance of advances paid increased by 38.54% compared to the closing balance at the beginning of theyear. It was mainly due to the increase of prepayment in raw materials and fuel power in the current reporting period.
(2) The closing balance of other current assets increased by 54.60% compared to the closing balance at the beginning ofthe year. It was mainly due to the increase in expenditure on purchasing financial products in the current reportingperiod.
(3) The closing balance of other non-current assets increased by 31.28% compared to the closing balance at thebeginning of the year. It was mainly due to the increase of prepayment in equipment in the current reporting period.
(4) The closing balance of employee benefits payable decreased by 42.77% compared to the closing balance at thebeginning of the year. It was mainly due to the payments on year-end bonuses in the current reporting period.
(5) The closing balance of other current liabilities decreased by 40.15% compared to the closing balance at thebeginning of the year. It was mainly due to the decrease of advance payments on sales in the current reporting period.
(6) The closing balance of treasury shares increased by 35.00% compared to the closing balance at the beginning of theyear. It was mainly due to the repurchase of part of companies’ social public shares.
(7) The closing balance of other comprehensive income decreased by 118.69% compared to the closing balance at thebeginning of the year. It was mainly due to the difference of translating foreign currency financial statement.
2. Income Statement Position
(1) R&D expenses in the current Q1 period increased by 42.50% compared to the same period of last year. It wasmainly due to the increase of material inputs and salary in the current Q1 period.
(2) Investment income in the current Q1 period increased by 447.44% compared to the same period of last year. It wasmainly due to the increase of investment income in associated enterprises and the increase of delivery income offorward foreign exchange settlement and sales products in the current Q1 period.
(3) Gains on changes in fair value in the current Q1 period increased by 47.08% compared to the same period of lastyear. It was mainly due to the fluctuation in exchange rate of undelivered forward foreign exchange settlement and salesproducts in the current Q1 period.
(4) Assets impairment loss in the current Q1 period increased by156.48% compared to the same period of last year. Itwas mainly due to the increase of provision for inventory declines in the current Q1 period.
(5) Gains on asset disposal in the current Q1 period increased by 154.10% compared to the same period of last year. Itwas mainly due to the increase of gain on disposal of non-current assets in the current Q1 period.
3. Cash Flow Statement Position
(1) Net cash flow generated by operating activities in the current Q1 period decreased by 61.03% compared to the sameperiod of last year. It was mainly due to the increase in payment for raw materials in the current Q1 period.
(2) Net cash flow generated by investment activities in the current Q1 period decreased by 46.30% compared to thesame period of last year. It was mainly due to the increase in expenditure on purchasing financial products andpurchasing and constructing fixed assets in the current Q1 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 | 64,016 | 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 | 48.55% | 1,251,903,644 | 0 | ||
| Hong Kong Securities Clearing Company Limited | Overseas legal person | 2.77% | 71,338,496 | 0 | ||
| Shanghai Chongyang Strategic Investment Co., Ltd.－Chongyang Strategic Huizhi Fund | Others | 1.75% | 45,060,167 | 0 | ||
| JPMORGAN CHASE BANK,NATIONAL ASSOCIATION | Overseas legal person | 1.13% | 29,024,075 | 0 | ||
| National Social Security Fund No.503 Portfolio | Others | 0.80% | 20,499,940 | 0 | ||
| National Social Security Fund No.112 Portfolio | Others | 0.74% | 19,186,092 | 0 | ||
| Guangdong Fuyeshengde Asset Management Co., Ltd - Fuyeshengde No 1 Private Security Investment Fund | Others | 0.54% | 13,810,354 | 0 | ||
| Hu Baishan | Domestic natural person | 0.47% | 12,163,274 | 9,122,455 | ||
| Beijing Yuanfeng Private Equity Fund Management Partnership (LP) － Yuanfeng Value Private Equity Investment Fund | Others | 0.46% | 11,977,187 | 0 | ||
| Kuwait Investment Authority | Overseas legal person | 0.46% | 11,733,502 | 0 | ||
| 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. | 1,251,903,644 | RMB ordinary shares | 1,251,903,644 |
| Hong Kong Securities Clearing Company Limited | 71,338,496 | RMB ordinary shares | 71,338,496 |
| Shanghai Chongyang Strategic Investment Co., Ltd. － Chongyang Strategic Huizhi Fund | 45,060,167 | RMB ordinary shares | 45,060,167 |
| JPMORGAN CHASE BANK,NATIONAL ASSOCIATION | 29,024,075 | RMB ordinary shares | 29,024,075 |
| National Social Security Fund No.503 Portfolio | 20,499,940 | RMB ordinary shares | 20,499,940 |
| National Social Security Fund No.112 Portfolio | 19,186,092 | RMB ordinary shares | 19,186,092 |
| Guangdong Fuyeshengde Asset Management Co., Ltd - Fuyeshengde No 1 Private Security Investment Fund | 13,810,354 | RMB ordinary shares | 13,810,354 |
| Beijing Yuanfeng Private Equity Fund Management Partnership (LP) － Yuanfeng Value Private Equity Investment Fund | 11,977,187 | RMB ordinary shares | 11,977,187 |
| Kuwait Investment Authority | 11,733,502 | RMB ordinary shares | 11,733,502 |
| Chongyang Group Co., Ltd. | 11,635,159 | RMB ordinary shares | 11,635,159 |
| 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 45,060,106 shares through client account of collateral securities for margin trading of Guotai Junan Securities Co., Ltd.; Guangdong Fuyeshengde Asset Management Co., Ltd - Fuyeshengde No 1 Private Security Investment Fund holds 13,810,354 shares through client account of collateral securities for margin trading of Huatai Securities Co., Ltd.; Beijing Yuanfeng Private Equity Fund Management Partnership (LP) －Yuanfeng Value Private Equity Investment Fund holds 5,988,587 shares through client account of collateral securities for margin trading of Huatai Securities Co., Ltd.; Chongyang Group Co., Ltd. holds 11,634,955 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
Ⅰ Progress of the Share Repurchase PlanAt the 7
th Meeting of the 8
thBoard of Directors held on August 18, 2021, Zhejiang NHU Co., Ltd. (hereinafter referredto as “the company”) deliberated and adopted The Proposal on Share Repurchase Plan of the Company, agreed that thecompany would use its own funds to repurchase part of the public shares of the company in the form of centralizedbidding transaction. And the shares repurchased would be used for implementing equity incentive plan or employeestock ownership plan. The total amount of repurchase would be RMB300-600mn, and the repurchase price would be nomore than RMB41/share. The specific amount of shares repurchased and its proportion in the total share capital shall besubject to the actual amount of shares repurchased at the expiration of the repurchase period. The implementation periodof the share repurchase plan shall not exceed 12 months from the date when the board of directors of the companydeliberates and adopts The Proposal on Share Repurchase Plan of the Company. By March 31, 2022, the company hasrepurchased 14,552,236 shares in the form of centralized bidding trading through Zhejiang NHU Co., Ltd. RepurchaseSecurities Account, accounting for 0.5644% of the company's total share capital. The maximum transaction price isRMB 31.88/ share, the minimum transaction price is RMB 26.15/ share, and the cumulative transaction amount is RMB432,464,683.56 (excluding transaction costs). The share repurchase plan complies with the requirements of relevantlaws and regulations and the company's established repurchase plan. For more details, please refer to TheAnnouncement on the Progress of Share Repurchase of the Company (2022-008) published onhttp://www.cninfo.com.cnII Progress of the Third Employee Stock Ownership Plan
The third employee stock ownership plan of the Company was deliberated and adopted by the second extraordinaryshareholders’ meeting of 2020 held on November 11, 2020, the current employee stock ownership plan is managed bythe Company itself, and the Company’s shares are acquired and held by stock purchase through secondary market, theduration shall not exceed 24 months. On February 26, 2022, the number of shares held by the third employee stockownership plan of the Company was 10,131,522, accounting for 0.39% of the company's total existing share capital,and the lock-up period expired. For more details, please refer to The Suggestive Announcement on the Expiration ofLock-up period of the Third Employee Stock Ownership plan （2022-004）published on http://www.cninfo.com.cn
III 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.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 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).From January 1 to March 31, 2022, the actual use of the raised funds was RMB 232.68 million, and the accumulatedinvestment of the raised funds project was RMB 2,320.12million. By March 31, 2022, the balance of raised funds wasRMB 3,187.45million (including financial products and structured deposits, the net amount of interest on cash in bankless 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, 2022
Unit: RMB Yuan
| Items | Mar 31, 2022 | Jan 1, 2022 |
| Current assets: | ||
| Cash and bank balances | 6,108,319,777.72 | 5,952,909,626.94 |
| Settlement funds | ||
| Loans to other banks | ||
| Held-for-trading financial assets | 908,276,322.92 | 1,250,736,359.24 |
| Derivative financial assets | ||
| Notes receivable | 329,579,552.94 | 349,145,316.03 |
| Accounts receivable | 3,258,816,632.85 | 2,755,168,573.14 |
| Receivables financing | 159,025,346.82 | 182,891,179.65 |
| Advances paid | 109,407,357.31 | 78,969,960.60 |
| Premiums receivable | ||
| Reinsurance accounts receivable | ||
| Reinsurance reserve receivable | ||
| Other receivables | 309,137,517.45 | 254,497,248.13 |
| Including: Interest receivable | ||
| Dividend receivable | 7,159,278.00 | |
| Financial assets under reverse repo | ||
| Inventories | 3,653,314,879.66 | 3,193,657,367.16 |
| Contract assets | ||
| Assets held for sale | ||
| Non-current assets due within one year | ||
| Other current assets | 1,384,916,114.26 | 895,782,268.87 |
| Items | Mar 31, 2022 | Jan 1, 2022 |
| Total current assets | 16,220,793,501.93 | 14,913,757,899.76 |
| Non-current assets: | ||
| Loans and advances | ||
| Debt investments | ||
| Other debt investments | ||
| Long-term receivables | ||
| Long-term equity investments | 373,450,458.22 | 351,327,625.75 |
| Other equity instrument investments | 22,998,147.55 | 22,998,147.55 |
| Other non-current financial assets | ||
| Investment property | ||
| Fixed assets | 14,273,343,958.04 | 14,350,779,852.73 |
| Construction in progress | 3,723,538,139.82 | 2,984,835,072.82 |
| Productive biological assets | ||
| Oil & gas assets | ||
| Right-of-use assets | 3,046,634.36 | 3,123,637.11 |
| Intangible assets | 1,512,226,751.57 | 1,521,729,757.66 |
| Development expenditures | ||
| Goodwill | 4,410,005.35 | |
| Long-term prepayments | 16,944,948.96 | 18,591,707.06 |
| Deferred tax assets | 58,398,503.90 | 55,805,191.95 |
| Other non-current assets | 657,794,477.48 | 501,076,584.40 |
| Total non-current assets | 20,646,152,025.25 | 19,810,267,577.03 |
| Total assets | 36,866,945,527.18 | 34,724,025,476.79 |
| Current liabilities: | ||
| Short-term borrowings | 1,812,995,465.03 | 1,403,332,827.92 |
| Central bank loans | ||
| Loans from other banks | ||
| Held-for-trading financial liabilities | ||
| Derivative financial liabilities | ||
| Notes payable | 849,710,293.39 | 694,124,946.73 |
| Accounts payable | 1,498,941,098.30 | 1,435,966,427.76 |
| Advances received | ||
| Contract liabilities | 46,962,512.57 | 61,135,258.36 |
| Financial liabilities under repo | ||
| Absorbing deposit and interbank deposit | ||
| Deposit for agency security transaction | ||
| Deposit for agency security underwriting | ||
| Employee benefits payable | 212,116,998.81 | 370,609,333.07 |
| Items | Mar 31, 2022 | Jan 1, 2022 |
| Taxes and rates payable | 389,193,518.77 | 420,743,262.69 |
| Other payables | 48,183,738.37 | 56,712,103.36 |
| Including: Interest payable | ||
| Dividend payable | ||
| Handling fee and commission payable | ||
| Reinsurance accounts payable | ||
| Liabilities held for sale | ||
| Non-current liabilities due within one year | 2,318,122,207.38 | 2,029,499,509.43 |
| Other current liabilities | 3,072,497.33 | 5,133,310.10 |
| Total current liabilities | 7,179,298,329.95 | 6,477,256,979.42 |
| Non-current liabilities: | ||
| Insurance policy reserve | ||
| Long-term borrowings | 5,484,579,401.22 | 5,148,811,786.49 |
| Bonds payable | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Lease liabilities | 3,057,390.60 | 2,936,868.15 |
| Long-term payables | ||
| Long-term employee benefits payable | ||
| Provisions | ||
| Deferred income | 1,062,207,483.24 | 1,063,699,676.16 |
| Deferred tax liabilities | 145,314,508.82 | 135,751,304.31 |
| Other non-current liabilities | ||
| Total non-current liabilities | 6,695,158,783.88 | 6,351,199,635.11 |
| Total liabilities | 13,874,457,113.83 | 12,828,456,614.53 |
| Equity: | ||
| Share capital | 2,578,394,760.00 | 2,578,394,760.00 |
| Other equity instruments | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Capital reserve | 4,121,063,080.96 | 4,121,063,080.96 |
| Less: Treasury shares | 432,499,287.04 | 320,360,784.48 |
| Other comprehensive income | -3,529,997.46 | -1,614,172.31 |
| Special reserve | 14,978,374.22 | 12,692,218.51 |
| Surplus reserve | 1,289,197,380.00 | 1,289,197,380.00 |
| General risk reserve | ||
| Undistributed profit | 15,355,792,822.89 | 14,152,465,528.17 |
| Total equity attributable to the parent company | 22,923,397,133.57 | 21,831,838,010.85 |
| Items | Mar 31, 2022 | Jan 1, 2022 |
| Non-controlling interest | 69,091,279.78 | 63,730,851.41 |
| Total equity | 22,992,488,413.35 | 21,895,568,862.26 |
| Total liabilities & equity | 36,866,945,527.18 | 34,724,025,476.79 |
Legal representative: Hu Baifan Officer in charge of accounting: Shi Guanqun Head of accounting department: Wang Xiaobi
2. Consolidated Income Statement
Unit: RMB Yuan
| Items | Q1 2022 | Q1 2021 |
| I. Total operating revenue | 4,307,991,748.95 | 3,790,255,566.08 |
| Including: Operating revenue | 4,307,991,748.95 | 3,790,255,566.08 |
| Interest income | ||
| Premiums earned | ||
| Revenue from handling charges and commission | ||
| II. Total operating cost | 2,975,781,501.41 | 2,456,151,541.23 |
| Including: Operating cost | 2,518,094,547.27 | 2,066,876,964.92 |
| 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 | 29,871,875.59 | 29,624,782.86 |
| Selling expenses | 22,790,060.34 | 25,596,901.14 |
| Administrative expenses | 108,673,875.32 | 98,545,580.34 |
| R&D expenses | 227,817,615.86 | 159,873,277.76 |
| Financial expenses | 68,533,527.03 | 75,634,034.21 |
| Including: Interest expenses | 73,602,297.89 | 72,761,812.52 |
| Interest income | 23,573,114.81 | 7,951,345.12 |
| Add: Other income | 34,331,441.69 | 38,215,703.79 |
| Investment income (or less: losses) | 34,767,170.90 | 6,350,902.16 |
| Including: Investment income from associates and joint ventures | 22,194,461.68 | 6,208,006.98 |
| Gains from derecognition of financial assets at amortized cost | ||
| Gains on foreign exchange (or less: losses) | ||
| Gains on net exposure to hedging risk (or |
| Items | Q1 2022 | Q1 2021 |
| less: losses) | ||
| Gains on changes in fair value (or less: losses) | 12,731,581.91 | 8,656,495.16 |
| Credit impairment loss | -30,326,145.11 | -27,121,854.75 |
| Assets impairment loss | -7,946,770.68 | -3,098,341.11 |
| Gains on asset disposal (or less: losses) | 4,679,172.59 | 1,841,479.97 |
| III. Operating profit (or less: losses) | 1,380,446,698.84 | 1,358,948,410.07 |
| Add: Non-operating revenue | 819,683.44 | 939,174.11 |
| Less: Non-operating expenditures | 911,475.48 | 1,240,793.29 |
| IV. Profit before tax (or less: total loss) | 1,380,354,906.80 | 1,358,646,790.89 |
| Less: Income tax | 172,502,286.13 | 210,357,643.86 |
| V. Net profit (or less: net loss) | 1,207,852,620.67 | 1,148,289,147.03 |
| (I) Categorized by the continuity of operations | ||
| 1. Net profit from continuing operations (or less: net loss) | 1,207,852,620.67 | 1,148,289,147.03 |
| 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 | 1,203,327,294.72 | 1,144,090,085.76 |
| 2. Net profit attributable to non-controlling shareholders | 4,525,325.95 | 4,199,061.27 |
| VI. Other comprehensive income after tax | -1,080,722.73 | -6,097,332.37 |
| Items attributable to the owners of the parent company | -1,915,825.15 | -3,306,897.50 |
| (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 | -1,915,825.15 | -3,306,897.50 |
| 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 |
| Items | Q1 2022 | Q1 2021 |
| 5. Cash flow hedging reserve | ||
| 6. Translation reserve | -1,915,825.15 | -3,306,897.50 |
| 7. Others | ||
| Items attributable to non-controlling shareholders | 835,102.42 | -2,790,434.87 |
| VII. Total comprehensive income | 1,206,771,897.94 | 1,142,191,814.66 |
| Items attributable to the owners of the parent company | 1,201,411,469.57 | 1,140,783,188.26 |
| Items attributable to non-controlling shareholders | 5,360,428.37 | 1,408,626.40 |
| VIII. Earnings per share (EPS): | ||
| (I) Basic EPS (yuan per share) | 0.47 | 0.44 |
| (II) Diluted EPS (yuan per share) | 0.47 | 0.44 |
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: Wang Xiaobi
3. Consolidated Cash Flow Statement
Unit: RMB Yuan
| Items | Q1 2022 | Q1 2021 |
| I. Cash flows from operating activities: | ||
| Cash receipts from sale of goods or rendering of services | 3,613,716,217.09 | 3,261,253,246.04 |
| 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 | 241,904,618.87 | 139,658,300.25 |
| Items | Q1 2022 | Q1 2021 |
| Other cash receipts related to operating activities | 62,483,265.40 | 70,599,669.60 |
| Subtotal of cash inflows from operating activities | 3,918,104,101.36 | 3,471,511,215.89 |
| Cash payments for goods purchased and services received | 2,509,609,260.22 | 1,578,841,733.53 |
| 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 | 633,641,755.96 | 479,789,155.22 |
| Cash payments for taxes and rates | 278,742,445.74 | 153,186,283.38 |
| Other cash payments related to operating activities | 73,668,959.78 | 175,674,542.40 |
| Subtotal of cash outflows from operating activities | 3,495,662,421.70 | 2,387,491,714.53 |
| Net cash flows from operating activities | 422,441,679.66 | 1,084,019,501.36 |
| II. Cash flows from investing activities: | ||
| Cash receipts from withdrawal of investments | ||
| Cash receipts from investment income | 16,343,604.40 | 9,308,194.25 |
| Net cash receipts from the disposal of fixed assets, intangible assets and other long-term assets | 1,561,444.66 | 2,206,000.00 |
| Net cash receipts from the disposal of subsidiaries & other business units | ||
| Other cash receipts related to investing activities | 1,064,294,950.48 | 400,000,000.00 |
| Subtotal of cash inflows from investing activities | 1,082,199,999.54 | 411,514,194.25 |
| Cash payments for the acquisition of fixed assets, intangible assets and other long-term assets | 865,447,063.96 | 698,613,138.91 |
| Cash payments for investments | ||
| Net increase of pledged borrowings | ||
| Net cash payments for the acquisition of subsidiaries & other business units | 5,380,193.64 | 40,000,000.00 |
| Other cash payments related to investing activities | 1,379,122,507.08 | 471,076,400.00 |
| Subtotal of cash outflows from investing activities | 2,249,949,764.68 | 1,209,689,538.91 |
| Net cash flows from investing activities | -1,167,749,765.14 | -798,175,344.66 |
| 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 | 1,637,682,567.39 | 2,392,073,940.87 |
| Items | Q1 2022 | Q1 2021 |
| Other cash receipts related to financing activities | ||
| Subtotal of cash inflows from financing activities | 1,637,682,567.39 | 2,392,073,940.87 |
| Cash payments for the repayment of borrowings | 582,292,030.99 | 1,060,973,532.91 |
| Cash payments for distribution of dividends or profits and for interest expenses | 80,697,645.30 | 71,825,784.22 |
| Including: Cash paid by subsidiaries to non-controlling shareholders as dividend or profit | ||
| Other cash payments related to financing activities | 2,468,007.00 | 2,847,895.88 |
| Subtotal of cash outflows from financing activities | 665,457,683.29 | 1,135,647,213.01 |
| Net cash flows from financing activities | 972,224,884.10 | 1,256,426,727.86 |
| IV. Effect of foreign exchange rate changes on cash & cash equivalents | -11,350,293.57 | -26,160,428.88 |
| V. Net increase in cash and cash equivalents | 215,566,505.05 | 1,516,110,455.68 |
| Add: Opening balance of cash and cash equivalents | 5,714,537,538.23 | 4,669,306,776.09 |
| VI. Closing balance of cash and cash equivalents | 5,930,104,043.28 | 6,185,417,231.77 |
Legal representative: Hu Baifan Officer in charge of accounting: Shi Guanqun Head of accounting department: Wang Xiaobi
II 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 28,2022