Zhejiang NHU Company Ltd.
Q1 2025 ReportThe Company and whole members of the BOD guarantee that the information disclosed isauthentic, accurate, complete and free from any false records, misleading statements or significantomissions.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 thatthe information presented in this report is authentic, accurate, complete and free of any falserecords, misleading statements or material omissions, and they will bear joint and severalliabilities for such information.
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
This Q1 2025 Report is an English translation of the Chinese Q1 2025 Report. In case the English version doesnot conform to the Chinese version, the Chinese version prevails.
Section I Key Accounting DataI. Key accounting data and financial indicatorsWhether the Company needs to perform retroactive adjustment or restatement on financial data of prior years
□Yes √No
| Items | Q1 2025 | Q1 2024 | Increase/decrease of the current reporting period compared with the same period of the previous year |
| Operating revenue (yuan) | 5,439,577,817.97 | 4,498,764,263.04 | 20.91% |
| Net profit attributable to shareholders of listed company (yuan) | 1,879,910,462.58 | 869,622,923.96 | 116.18% |
| Net profit attributable to shareholders of listed company after deducting non-recurring profit or loss (yuan) | 1,879,705,376.85 | 857,468,937.91 | 119.22% |
| Net cash flows from operating activities (yuan) | 1,595,982,605.81 | 480,895,414.07 | 231.88% |
| Basic EPS (yuan/share) | 0.61 | 0.28 | 117.86% |
| Diluted EPS (yuan/share) | 0.61 | 0.28 | 117.86% |
| Weighted average ROE | 6.29% | 3.44% | Increased by 2.85 percentage points |
| Items | Mar. 31, 2025 | Dec. 31, 2024 | Increase/decrease of the current reporting period compared with the end of the previous year |
| Total assets (yuan) | 43,777,419,398.69 | 42,989,132,470.97 | 1.83% |
| Net assets attributable to shareholders of listed company (yuan) | 30,623,998,663.95 | 29,324,997,728.95 | 4.43% |
II Non-recurring Profit or Loss for this Period
√ Applicable □ Not applicable
Unit: RMB yuan
| Items | Q1 2025 | Remarks |
| Gains or losses on disposal of non-current assets, including write-off of provision for impairment | -370,793.75 | |
| 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) | 29,799,115.64 | |
| 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 | -26,004,821.17 | |
| Gains or losses on assets consigned to the third party for investment or management | 1,288,030.11 |
Items
| Items | Q1 2025 | Remarks |
| Other profit and loss items that meet the definition of non-recurring profit or loss | -354,382.29 | |
| Less: Enterprise income tax affected | 4,172,538.67 | |
| Non-controlling interest affected (after tax) | -20,475.86 | |
| Total | 205,085.73 | -- |
Details of other profit and loss items that meet the definition of non-recurring profit and loss
□ Applicable √ Not applicable
The Company does not have any other profit and loss items that meet the definition of non-recurring profit and loss.Explanation on defining the non-recurring profit and loss items listed in the No. 1 Explanatory Announcement on InformationDisclosure for Companies Offering Their Securities to Public-Non-recurring Profit and loss as non-recurring profit and loss items.
□ Applicable √ Not applicable
The Company does not define the non-recurring profit and loss items listed in the No. 1 Explanatory Announcement onInformation Disclosure for Companies Offering Their Securities to Public-Non-recurring Profit and loss as recurring profit andloss 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 Held-for-trading financial assets increased by 167,662.20% compared to the closing balance at thebeginning of the year. It was mainly due to the increase in the purchase of financial products during the reporting period.
（2）The closing balance of Advances paid increased by 33.79% compared to the closing balance at the beginning of the year. Itwas mainly due to the increase in prepayments to suppliers during the reporting period.
（3）The closing balance of Deferred tax assets increased by 124.21% compared to the closing balance at the beginning of theyear. It was mainly due to the increase in the provision for deferred income tax as a result of the increase in unrealized gains andlosses during the reporting period.
（4）The closing balance of Held-for-trading financial liabilities increased by 113.99% compared to the closing balance at thebeginning of the year. It was mainly due to changes in exchange rates of forward exchange products during the reporting period.
（5）The closing balance of Contract liabilities increased by 38.87% compared to the closing balance at the beginning of the year.It was mainly due to the increase in advance receipts received from customers during the reporting period.
（6）The closing balance of Employee benefits payable decreased by 54.56% compared to the closing balance at the beginningof the year. It was mainly due to the payment of year-end efficiency awards during the reporting period.
（7）The closing balance of Other current liabilities decreased by 32.09% compared to the closing balance at the beginning ofthe year. It was mainly due to the decrease in withholding of rebates during the reporting period.
2. Consolidated Income Statement Position
（1）Financial expenses in the current Q1 period decreased by 246.21% compared to the same period of last year. It was mainlydue to the increase in foreign exchange gains during the reporting period.
（2）Investment income in the current Q1 period increased by 583.44% compared to the same period of last year. It was mainlydue to the increase in investment income from associates during the reporting period.
（3）Gains on changes in fair value in the current Q1 period decreased by 31.96% compared to the same period of last year. Itwas mainly due to the decrease in fair value as a result of exchange rate fluctuations during the reporting period.
（4）Credit impairment loss in the current Q1 period decreased by 103.99% compared to the same period of last year. It wasmainly due to the increase in credit impairment losses provided for changes in accounts receivable during the reporting period.
（5）Gains on asset disposal in the current Q1 period increased by 82.57% compared to the same period of last year. It wasmainly due to the decrease in losses on assets disposed of during the reporting period.
3.Cash Flow Statement Position
（1）Net cash flows from operating activities in the current Q1 period increased by 231.88% compared to the same period of lastyear. It was mainly due to the increase in operating revenue and accelerated customer receivables collection during the reportingperiod.
（2）Net cash flows from investing activities in the current Q1 period decreased by 232.33% compared to the same period of lastyear. It was mainly due to the increase in expenditure on the purchase of bank financial products during the reporting period.
（3）Net cash flows from financing activities in the current Q1 period decreased by 1,061.13% compared to the same period oflast year. It was mainly due to the increase in special dividend payments during the reporting period.
（4）Net increase in cash and cash equivalents in the current Q1 period decreased by 411.30% compared to the same period oflast year. It was mainly due to the increase in expenditure on the purchase of bank financial products and special dividendpayments during the 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 | 77,933 | Total number of preferred shareholders whose voting rights have been recovered at the end of the reporting period | 0 | |||
| Information about top 10 shareholders（Excluding shares lent through refinancing） | ||||||
| Shareholders | Nature of shareholders | Holding proportion（10%） | Quantity of shares | Quantity of restricted shares | Shares pledged, marked or frozen | |
| Condition | Quantity | |||||
| NHU Holding Group Co., Ltd. | Domestic non-state-owned legal person | 50.08% | 1,539,232,431 | 0 | N/A | 0 |
| Hong Kong Securities Clearing Company Limited | Overseas legal person | 5.59% | 171,739,506 | 0 | N/A | 0 |
| National Social Security Fund No.503 Portfolio | Others | 1.17% | 36,000,000 | 0 | N/A | 0 |
| The Company－Employee stock ownership plan phase IV | Others | 0.96% | 29,528,181 | 0 | N/A | 0 |
| China Construction Bank Corporation - E Fund Shanghai and Shenzhen 300 Medical and Health Trading Open-end Index Fund | Others | 0.89% | 27,412,782 | 0 | N/A | 0 |
| Shanghai Chongyang Strategic Investment Co., Ltd.－ Chongyang Strategic Huizhi Fund | Others | 0.88% | 26,930,663 | 0 | N/A | 0 |
| Industrial and Commercial Bank of China Limited-Huatai Berry CSI 300 Open-ended Index Fund | Others | 0.82% | 25,181,341 | 0 | N/A | 0 |
| Shanghai Chongyang Strategic Investment Co., Ltd.－ Chongyang Strategic Caizhi Fund | Others | 0.62% | 19,150,780 | 0 | N/A | 0 |
| China Construction Bank Corporation - Efounda CSI 300 Open-End Index Initiated Fund | Others | 0.57% | 17,658,431 | 0 | N/A | 0 |
| Shanghai Chongyang Strategic Investment Co., Ltd. － Chongyang Strategic Juzhi Fund | Others | 0.49% | 15,096,694 | 0 | N/A | 0 |
| Information about top 10 shareholders without trading restrictions (excluding shares lent through transfer facility and shares locked up by executives) | ||||||
| Shareholders | Quantity of non-restricted shares | Category of shares | ||||
| Category | Quantity | |||||
| NHU Holding Group Co., Ltd. | 1,539,232,431 | RMB ordinary shares | 1,539,232,431 | |||
| Hong Kong Securities Clearing Company Limited | 171,739,506 | RMB ordinary shares | 171,739,506 | |||
| National Social Security Fund No.503 Portfolio | 36,000,000 | RMB ordinary shares | 36,000,000 | |||
| The Company－Employee stock ownership plan phase IV | 29,528,181 | RMB ordinary shares | 29,528,181 | |||
| China Construction Bank Corporation - E Fund Shanghai and Shenzhen 300 Medical and Health Trading Open-end Index Fund | 27,412,782 | RMB ordinary shares | 27,412,782 | |||
Shanghai Chongyang Strategic Investment Co., Ltd.－ Chongyang Strategic Huizhi Fund
| Shanghai Chongyang Strategic Investment Co., Ltd.－ Chongyang Strategic Huizhi Fund | 26,930,663 | RMB ordinary shares | 26,930,663 |
| Industrial and Commercial Bank of China Limited-Huatai Berry CSI 300 Open-ended Index Fund | 25,181,341 | RMB ordinary shares | 25,181,341 |
| Shanghai Chongyang Strategic Investment Co., Ltd.－ Chongyang Strategic Caizhi Fund | 19,150,780 | RMB ordinary shares | 19,150,780 |
| China Construction Bank Corporation - Efounda CSI 300 Open-End Index Initiated Fund | 17,658,431 | RMB ordinary shares | 17,658,431 |
| Shanghai Chongyang Strategic Investment Co., Ltd. － Chongyang Strategic Juzhi Fund | 15,096,694 | RMB ordinary shares | 15,096,694 |
| Explanation on associated relationship or concerted actions among above shareholders | 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 | Shanghai Chongyang Strategic Investment Co., Ltd. － Chongyang Strategic Huizhi Fund holds 26,930,563 shares through a client account of collateral securities for margin trading of Guotai Junan Securities Co., Ltd.; Shanghai Chongyang Strategic Investment Co., Ltd - Chongyang Strategic Caizhi Fund holds 19,150,780 shares through a client credit transaction guarantee securities account at China Merchants Securities Co; Shanghai Chongyang Strategic Investment Co., Ltd - Chongyang Strategic Juzhi Fund held 15,096,694 shares through a client credit transaction guarantee securities account of China Merchants Securities Co. | ||
Shareholders holding more than 5% of shares, top 10 shareholders and top 10 shareholders with unlimited shares in circulationparticipating in the lending of shares in the transfer and financing business.
□ Applicable √Not applicable
The top 10 shareholders and the top 10 holders of unlimited shares have experienced changes due to participating in the lending ofshares in the transfer and financing business compared to the previous period.
□ Applicable √Not applicable
II Total Number of Preferred Shareholders and Information about Top 10 Preferred Shareholders
□ Applicable √Not applicable
Section III Other Significant Events
√Applicable □Not applicable
Absorption Merger Between Wholly Owned SubsidiariesThe Company’s wholly owned subsidiary, Shandong NHU Fine Chemical Science and Technology Co., Ltd., has completed theabsorption and merger of another wholly owned subsidiary, Shandong NHU Vitamins Co., Ltd. Post-merger, Shandong NHU FineChemical Science and Technology Co., Ltd. continues operations with its registered capital increased from RMB 400 million toRMB 900 million, while Shandong NHU Vitamins Co., Ltd. has been dissolved, with all its assets, liabilities, and obligationstransferred to the surviving entity. The relevant industrial and commercial registration procedures were finalized in February 2025.This transaction does not constitute a connected transaction under the Administrative Measures for Major Asset Restructuring ofListed Companies nor a material asset reorganization. Pursuant to the relevant provisions of the Shenzhen Stock Exchange ListingRules, this absorption merger qualifies for exemption from standard procedural requirements as it constitutes a transactionbetween entities under the Company's consolidated financial reporting scope.
Section Ⅳ Quarterly Financial StatementsⅠ Financial statements
1. Consolidated Balance Statement
Prepared by Zhejiang NHU Co., Ltd.
Mar 31, 2025
Unit: RMB Yuan
| Items | Mar 31, 2025 | Jan 1, 2025 |
| Current assets: | ||
| Cash and bank balances | 7,464,811,535.54 | 7,936,504,805.65 |
| Settlement funds | ||
| Loans to other banks | ||
| Held-for-trading financial assets | 1,251,197,865.07 | 745,816.34 |
| Derivative financial assets | ||
| Notes receivable | 360,517,506.80 | 292,562,093.90 |
| Accounts receivable | 3,560,605,307.15 | 3,653,676,104.37 |
| Receivables financing | 652,023,235.23 | 523,913,135.22 |
| Advances paid | 218,366,131.60 | 163,216,512.08 |
| Premiums receivable | ||
| Reinsurance accounts receivable | ||
| Reinsurance reserve receivable | ||
| Other receivables | 199,061,381.94 | 225,516,143.49 |
| Including: Interest receivable | ||
| Dividend receivable | ||
| Financial assets under reverse repo | ||
| Inventories: | 4,295,350,210.62 | 4,090,096,841.96 |
| Including: data resources | ||
| Contract assets | ||
| Assets held for sale | ||
| Non-current assets due within one year | ||
| Other current assets | 32,089,190.48 | 35,969,632.09 |
| Total current assets | 18,034,022,364.43 | 16,922,201,085.10 |
| Non-current assets: | ||
| Loans and advances | ||
| Debt investments | ||
| Other debt investments | ||
| Long-term receivables | ||
| Long-term equity investments | 874,725,248.22 | 865,262,148.36 |
Items
| Items | Mar 31, 2025 | Jan 1, 2025 |
| Other equity instrument investments | 19,498,147.55 | 19,498,147.55 |
| Other non-current financial assets | ||
| Investment property | ||
| Fixed assets | 21,521,895,871.62 | 21,915,984,823.43 |
| Construction in progress | 607,231,518.50 | 571,610,643.68 |
| Productive biological assets | ||
| Oil & gas assets | ||
| Right-of-use assets | 12,472,592.87 | 13,222,869.09 |
| Intangible assets | 2,467,866,277.53 | 2,482,899,966.19 |
| Including: data resources | ||
| Development expenditures | ||
| Including: data resources | ||
| Goodwill | 3,622,704.97 | 3,622,704.97 |
| Long-term prepayments | 29,657,883.91 | 33,059,580.89 |
| Deferred tax assets | 4,721,896.42 | 2,106,046.31 |
| Other non-current assets | 201,704,892.67 | 159,664,455.40 |
| Total non-current assets | 25,743,397,034.26 | 26,066,931,385.87 |
| Total assets | 43,777,419,398.69 | 42,989,132,470.97 |
| Current liabilities: | ||
| Short-term borrowings | 1,073,844,241.72 | 1,162,512,239.04 |
| Central bank loans | ||
| Loans from other banks | ||
| Held-for-trading financial liabilities | 23,862,828.50 | 11,151,258.46 |
| Derivative financial liabilities | ||
| Notes payable | 161,800,877.70 | 159,164,822.28 |
| Accounts payable | 1,425,621,453.25 | 1,685,979,157.55 |
| Advances received | ||
| Contract liabilities | 329,149,090.44 | 237,013,669.77 |
| Financial liabilities under repo | ||
| Absorbing deposit and interbank deposit | ||
| Deposit for agency security transaction | ||
| Deposit for agency security underwriting | ||
| Employee benefits payable | 214,969,257.00 | 473,107,111.45 |
| Taxes and rates payable | 458,992,414.65 | 538,903,915.30 |
| Other payables | 139,808,156.34 | 122,424,090.50 |
| Including: Interest payable | ||
| Dividend payable | ||
| Handling fee and commission |
Items
| Items | Mar 31, 2025 | Jan 1, 2025 |
| payable | ||
| Reinsurance accounts payable | ||
| Liabilities held for sale | ||
| Non-current liabilities due within one year | 3,045,774,972.38 | 2,465,378,913.94 |
| Other current liabilities | 36,378,032.05 | 53,564,334.90 |
| Total current liabilities | 6,910,201,324.03 | 6,909,199,513.19 |
| Non-current liabilities: | ||
| Insurance policy reserve | ||
| Long-term borrowings | 4,816,405,638.69 | 5,327,243,721.25 |
| Bonds payable | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Lease liabilities | 3,591,496.31 | 3,584,791.02 |
| Long-term payables | ||
| Long-term employee benefits payable | ||
| Provisions | ||
| Deferred income | 1,005,206,202.76 | 1,025,834,591.04 |
| Deferred tax liabilities | 284,763,599.78 | 277,719,591.54 |
| Other non-current liabilities | ||
| Total non-current liabilities | 6,109,966,937.54 | 6,634,382,694.85 |
| Total liabilities | 13,020,168,261.57 | 13,543,582,208.04 |
| Equity: | ||
| Share capital | 3,073,421,680.00 | 3,073,421,680.00 |
| Other equity instruments | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Capital reserve | 3,132,519,968.42 | 3,132,519,968.42 |
| Less: Treasury shares | ||
| Other comprehensive income | 106,432,313.64 | 91,513,343.50 |
| Special reserve | 125,204,703.19 | 106,348,864.91 |
| Surplus reserve | 1,545,453,678.00 | 1,545,453,678.00 |
| General risk reserve | ||
| Undistributed profit | 22,640,966,320.70 | 21,375,740,194.12 |
| Total equity attributable to the parent company | 30,623,998,663.95 | 29,324,997,728.95 |
| Non-controlling interest | 133,252,473.17 | 120,552,533.98 |
| Total equity | 30,757,251,137.12 | 29,445,550,262.93 |
| Total liabilities & equity | 43,777,419,398.69 | 42,989,132,470.97 |
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 2025 | Q1 2024 |
| I. Total operating revenue | 5,439,577,817.97 | 4,498,764,263.04 |
| Including: Operating revenue | 5,439,577,817.97 | 4,498,764,263.04 |
| Interest income | ||
| Premiums earned | ||
| Revenue from handling charges and commission | ||
| II. Total operating cost | 3,332,670,522.53 | 3,392,556,624.48 |
| Including: Operating cost | 2,899,276,314.75 | 2,922,577,257.11 |
| 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 | 50,448,500.49 | 43,193,641.03 |
| Selling expenses | 34,003,560.61 | 34,861,758.30 |
| Administrative expenses | 154,462,169.44 | 146,255,149.81 |
| R&D expenses | 256,931,534.29 | 202,953,832.19 |
| Financial expenses | -62,451,557.05 | 42,714,986.04 |
| Including: Interest expenses | 58,365,389.70 | 70,961,212.48 |
| Interest income | 17,375,893.08 | 31,276,387.97 |
| Add: Other income | 63,862,670.45 | 64,347,613.41 |
| Investment income (or less: losses) | 2,318,161.95 | -479,516.61 |
| Including: Investment income from associates and joint ventures | 10,902,603.70 | 7,648,201.42 |
| 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) | -16,132,349.31 | -12,225,180.80 |
| Credit impairment loss | 2,691,018.23 | -67,492,764.39 |
Items
| Items | Q1 2025 | Q1 2024 |
| Assets impairment loss | -15,398,773.86 | -15,697,068.06 |
| Gains on asset disposal (or less: losses) | -370,793.75 | -2,126,754.10 |
| III. Operating profit (or less: losses) | 2,143,877,229.15 | 1,072,533,968.01 |
| Add: Non-operating revenue | 886,224.27 | 771,057.25 |
| Less: Non-operating expenditures | 1,240,606.56 | 1,195,649.13 |
| IV. Profit before tax (or less: total loss) | 2,143,522,846.86 | 1,072,109,376.13 |
| Less: Income tax | 255,791,673.71 | 199,137,194.36 |
| V. Net profit (or less: net loss) | 1,887,731,173.15 | 872,972,181.77 |
| (I) Categorized by the continuity of operations | ||
| 1. Net profit from continuing operations (or less: net loss) | 1,887,731,173.15 | 872,972,181.77 |
| 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 | 1,879,910,462.58 | 869,622,923.96 |
| 2. Net profit attributable to non-controlling shareholders | 7,820,710.57 | 3,349,257.81 |
| VI. Other comprehensive income after tax | 19,798,198.76 | -4,580,345.66 |
| Items attributable to the owners of the parent company | 14,918,970.14 | -2,054,048.56 |
| (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 | 14,918,970.14 | -2,054,048.56 |
| 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 | 14,918,970.14 | -2,054,048.56 |
| 7. Others | ||
| Items attributable to non-controlling | 4,879,228.62 | -2,526,297.10 |
Items
| Items | Q1 2025 | Q1 2024 |
| shareholders | ||
| VII. Total comprehensive income | 1,907,529,371.91 | 868,391,836.11 |
| Items attributable to the owners of the parent company | 1,894,829,432.72 | 867,568,875.40 |
| Items attributable to non-controlling shareholders | 12,699,939.19 | 822,960.71 |
| VIII. Earnings per share (EPS): | ||
| (I) Basic EPS (yuan per share) | 0.61 | 0.28 |
| (II) Diluted EPS (yuan per share) | 0.61 | 0.28 |
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 2025 | Q1 2024 |
| I. Cash flows from operating activities: | ||
| Cash receipts from sale of goods or rendering of services | 5,397,200,390.45 | 3,763,652,141.20 |
| 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 | 248,726,554.32 | 178,547,741.15 |
| Other cash receipts related to operating activities | 69,361,541.81 | 67,259,965.09 |
| Subtotal of cash inflows from operating activities | 5,715,288,486.58 | 4,009,459,847.44 |
| Cash payments for goods purchased and services received | 2,592,984,352.17 | 2,383,984,430.92 |
| Net increase of loans and advances to clients |
Items
| Items | Q1 2025 | Q1 2024 |
| 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 | 808,057,616.28 | 734,169,746.31 |
| Cash payments for taxes and rates | 577,767,837.08 | 320,977,109.62 |
| Other cash payments related to operating activities | 140,496,075.24 | 89,433,146.52 |
| Subtotal of cash outflows from operating activities | 4,119,305,880.77 | 3,528,564,433.37 |
| Net cash flows from operating activities | 1,595,982,605.81 | 480,895,414.07 |
| II. Cash flows from investing activities: | ||
| Cash receipts from withdrawal of investments | ||
| Cash receipts from investment income | 1,296,518.97 | 1,616.44 |
| Net cash receipts from the disposal of fixed assets, intangible assets and other long-term assets | 159,744.56 | |
| Net cash receipts from the disposal of subsidiaries & other business units | ||
| Other cash receipts related to investing activities | 800,000,000.00 | 145,000,000.00 |
| Subtotal of cash inflows from investing activities | 801,296,518.97 | 145,161,361.00 |
| Cash payments for the acquisition of fixed assets, intangible assets and other long-term assets | 295,693,688.24 | 579,790,051.36 |
| Cash payments for investments | ||
| Net increase of pledged borrowings | ||
| Net cash payments for the acquisition of subsidiaries & other business units | ||
| Other cash payments related to investing activities | 1,950,000,000.00 | |
| Subtotal of cash outflows from investing activities | 2,245,693,688.24 | 579,790,051.36 |
| Net cash flows from investing activities | -1,444,397,169.27 | -434,628,690.36 |
| III. Cash flows from financing activities: | ||
| Cash receipts from absorbing investments |
Items
| Items | Q1 2025 | Q1 2024 |
| Including: Cash received by subsidiaries from non-controlling shareholders as investments | ||
| Cash receipts from borrowings | 572,494,106.93 | 1,130,900,749.27 |
| Other cash receipts related to financing activities | ||
| Subtotal of cash inflows from financing activities | 572,494,106.93 | 1,130,900,749.27 |
| Cash payments for the repayment of borrowings | 443,917,925.63 | 1,003,043,623.32 |
| Cash payments for distribution of dividends or profits and for interest expenses | 673,702,768.85 | 70,968,509.51 |
| Including: Cash paid by subsidiaries to non-controlling shareholders as dividend or profit | ||
| Other cash payments related to financing activities | 50,079.00 | 165,927.89 |
| Subtotal of cash outflows from financing activities | 1,117,670,773.48 | 1,074,178,060.72 |
| Net cash flows from financing activities | -545,176,666.55 | 56,722,688.55 |
| IV. Effect of foreign exchange rate changes on cash & cash equivalents | 8,968,800.13 | 20,565,791.82 |
| V. Net increase in cash and cash equivalents | -384,622,429.88 | 123,555,204.08 |
| Add: Opening balance of cash and cash equivalents | 5,521,452,666.47 | 4,446,570,415.30 |
| VI. Closing balance of cash and cash equivalents | 5,136,830,236.59 | 4,570,125,619.38 |
Legal representative: Hu Baifan Officer in charge of accounting: Shi Guanqun Head of accounting department: Zhang Lijin
II Adjustments to financial statements at the beginning of the year of first implementation of newaccounting standards for the first time from 2025 onwards
□ Applicable √Not applicable
III 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 29, 2025