新和成:2022年第一季度报告（英文版）

Securities Code:002001 Securities Abbr: NHU
Zhejiang NHU Company Ltd.Q1 2022 Report
The Company and whole members of the BOD guarantee that the information disclosed is
authentic accurate complete and free from any false records misleading statements or significant
omissions.Important Content Reminder:
1. The Board of Directors Board of Supervisors directors supervisors and senior executives of
Zhejiang NHU Company Ltd. (hereinafter referred to as the “Company”) hereby guarantee that the
information presented in this report is authentic accurate complete and free of any false records
misleading statements or material omissions and they will bear joint and several liabilities for such
information.
2. The Company’s legal representative the officer in charge of accounting and the head of
accounting department hereby declare and warrant that the financial information in this report is
authentic accurate and complete.
3. Whether the First Quarterly Report has been audited or not
□ Yes √ No
Note:
This Report has been prepared in both Chinese and English version and the English version is for
reference only. Should there be any discrepancies or misunderstandings between the two versions
the Chinese versions shall prevail. The complete published Chinese First Quarterly Report may be
obtained at www.cninfo.com.cn.
1Securities Code:002001 Securities Abbr: NHU
Section Ⅰ Key Accounting Data
Ⅰ Key Accounting Data and Financial Indicators
Whether the company needs performed retroactive adjustment or restatement of accounting data in prior years or not
√ Yes □ No
Retroactive adjustment or restatement of reasons
Changes in accounting policies and other reasons
Increase/decrease of the
current reporting period
Q1 2021 compared with the same
Items Q1 2022 period of the previous
year
After
Before adjustment After adjustment
adjustment[Note2]
Operating revenue (yuan) 4307991748.95 3743831818.61 3790255566.08 13.66%
Net profit attributable to
shareholders of listed 1203327294.72 1136774983.04 1144090085.76 5.18%
company (yuan)
Net profit attributable to
shareholders of listed
company after deducting 1142767059.69 1090734420.46 1098049523.18 4.07%
non-recurring profit or loss
(yuan)
Net cash flows from
422441679.661076704398.641084019501.36-61.03%
operating activities (yuan)
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%
Decreased by 0.39
Weighted average ROE 5.36% 5.71% 5.75%
percentage points
Increase/decrease of the
current reporting period
Dec. 31 2021
compared with the end of
Items Mar. 31 2022
the previous year
After
Before adjustment After adjustment
adjustment[Note2]
Total assets (yuan) 36866945527.18 34692165111.88 34724025476.79 6.17%
Net assets attributable to
shareholders of listed 22923397133.57 21799977645.94 21831838010.85 5.00%
company (yuan)
[Note1] After the implementation of the Company’s 2020 profit distribution plan its share capital was increased from 2148662300
shares to 2578394760 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 the
expected serviceable state or during the research and development process the income and cost related to the trial operation sales
2Securities Code:002001 Securities Abbr: NHU
shall be accounted for separately and included in the current profit and loss The net amount of the revenue from trial operation sales
after offsetting the relevant costs shall not be used to offset the cost of fixed assets or R&D expenses. The company makes retroactive
adjustment 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
4679172.59
including write-off of provision for impairment
Government grants included in profit or loss (excluding
those closely related to operating activities of the
Company satisfying government policies and regulations 33227394.33
and continuously enjoyed with certain quantity or quota
based on certain standards)
Gains or losses on assets consigned to the third party for
8305996.39
investment or management
Gains or losses on changes in fair value of held-for-trading
financial assets and held-for-trading financial liabilities
and investment income from disposal of held-for-trading
16998294.74
financial assets and held-for-trading financial liabilities
excluding those arising from hedging business related to
operating activities
Other non-operating revenue or expenditures 1012255.32
Less: Enterprise income tax affected 3636037.36
Non-controlling interest affected (after tax) 26840.98
Total 60560235.03 --
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 on
Information Disclosure for Companies Offering Their Securities to Public-Non-recurring Profit and loss as
non-recurring profit and loss items.□ Applicable √ Not applicable
The Company does not define the non-recurring profit and loss items listed in the No. 1 Explanatory Announcement on
Information Disclosure for Companies Offering Their Securities to Public-Non-recurring Profit and loss as recurring
profit and loss items.III Major Changes of Main Items in Financial Statements and Financial Indicators within the Reporting
Period as well as the Reasons for the Changes
√ Applicable □Not applicable
3Securities Code:002001 Securities Abbr: NHU
1. Balance Sheet Position
(1) The closing balance of advances paid increased by 38.54% compared to the closing balance at the beginning of the
year. 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 of
the year. It was mainly due to the increase in expenditure on purchasing financial products in the current reporting
period.
(3) The closing balance of other non-current assets increased by 31.28% compared to the closing balance at the
beginning 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 the
beginning 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 the
beginning 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 the
year. 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 the
beginning 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 was
mainly 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 was
mainly due to the increase of investment income in associated enterprises and the increase of delivery income of
forward 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 last
year. It was mainly due to the fluctuation in exchange rate of undelivered forward foreign exchange settlement and sales
products 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. It
was 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. It
was 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 same
period 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 the
same period of last year. It was mainly due to the increase in expenditure on purchasing financial products and
purchasing and constructing fixed assets in the current Q1 period.
4Securities Code:002001 Securities Abbr: NHU
Section Ⅱ Shareholders Information
Ⅰ Total Number of Common Shareholders and Number of Preferred Shareholders with Voting Rights
Recovered and Information about Top 10 Shareholders
Unit: share
Total number of preferred shareholders whose
Total number of common shareholders
64016 voting rights have been recovered at the end of 0
at the end of the reporting period
the reporting period(if any).Information about top 10 shareholders
Shareholding Shares pledged marked or
Nature of Quantity of Quantity of
Name of shareholder percentage frozen
shareholder shares restricted shares
(%) Status Quantity
Domestic
NHU Holding Group
non-state-own 48.55% 1251903644 0
Co. Ltd.ed legal person
Hong Kong Securities
Overseas legal
Clearing Company 2.77% 71338496 0
person
Limited
Shanghai Chongyang
Strategic Investment
Others 1.75% 45060167 0
Co. Ltd.－Chongyang
Strategic Huizhi Fund
JPMORGAN CHASE
Overseas legal
BANKNATIONAL 1.13% 29024075 0
person
ASSOCIATION
National Social
Security Fund No.503 Others 0.80% 20499940 0
Portfolio
National Social
Security Fund No.112 Others 0.74% 19186092 0
Portfolio
Guangdong
Fuyeshengde Asset
Management Co. Ltd -
Others 0.54% 13810354 0
Fuyeshengde No 1
Private Security
Investment Fund
Domestic
Hu Baishan 0.47% 12163274 9122455
natural person
Beijing Yuanfeng
Private Equity Fund
Management
Partnership (LP) － Others 0.46% 11977187 0
Yuanfeng Value Private
Equity Investment
Fund
Kuwait Investment Overseas legal
0.46%117335020
Authority person
Information about top 10 shareholders without trading restrictions
Type of shares
Name of shareholder Quantity of non-restricted shares
Type Quantity
5Securities Code:002001 Securities Abbr: NHU
RMB ordinary
NHU Holding Group Co. Ltd. 1251903644 1251903644
shares
Hong Kong Securities Clearing RMB ordinary
7133849671338496
Company Limited shares
Shanghai Chongyang Strategic
RMB ordinary
Investment Co. Ltd. － Chongyang 45060167 45060167
shares
Strategic Huizhi Fund
JPMORGAN CHASE RMB ordinary
2902407529024075
BANKNATIONAL ASSOCIATION shares
National Social Security Fund No.503 RMB ordinary
2049994020499940
Portfolio shares
National Social Security Fund No.112 RMB ordinary
1918609219186092
Portfolio shares
Guangdong Fuyeshengde Asset
RMB ordinary
Management Co. Ltd - Fuyeshengde 13810354 13810354
shares
No 1 Private Security Investment Fund
Beijing Yuanfeng Private Equity Fund
Management Partnership (LP) － RMB ordinary
1197718711977187
Yuanfeng Value Private Equity shares
Investment Fund
RMB ordinary
Kuwait Investment Authority 11733502 11733502
shares
RMB ordinary
Chongyang Group Co. Ltd. 11635159 11635159
shares
The above shareholder Hu Baishan is the director of NHU Holding Group
Explanation on associated relationship Co. Ltd. The Company does not know whether other shareholders have
or concerted actions among above
relationships and whether they are persons acting in concert as defined in
shareholders
Administration of the Takeover of Listed Companies Procedures.Shanghai Chongyang Strategic Investment Co. Ltd. － Chongyang
Strategic Huizhi Fund holds 45060106 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 13810354 shares through client
Explanation on top 10 shareholders’ account of collateral securities for margin trading of Huatai Securities Co.participating in securities margin
Ltd.; Beijing Yuanfeng Private Equity Fund Management Partnership (LP)
trading (if any)
－Yuanfeng Value Private Equity Investment Fund holds 5988587 shares
through client account of collateral securities for margin trading of Huatai
Securities Co. Ltd.; Chongyang Group Co. Ltd. holds 11634955 shares
through client account of collateral securities for margin trading of China.Merchants Securities Co. Ltd.Notes: Zhejiang NHU Co. Ltd. Repurchase Securities Account is among top 10 shareholders at the end of the reporting period but do
not participate in the listing of the top 10 shareholders of the company.II Total Number of Preferred Shareholders and Information about Top 10 Preferred Shareholders
□ Applicable √Not applicable
6Securities Code:002001 Securities Abbr: NHU
Section III Other Significant Events
√ Applicable □ Not applicable
Ⅰ Progress of the Share Repurchase Plan
th th
At the 7 Meeting of the 8 Board of Directors held on August 18 2021 Zhejiang NHU Co. Ltd. (hereinafter referred
to as “the company”) deliberated and adopted The Proposal on Share Repurchase Plan of the Company agreed that the
company would use its own funds to repurchase part of the public shares of the company in the form of centralized
bidding transaction. And the shares repurchased would be used for implementing equity incentive plan or employee
stock ownership plan. The total amount of repurchase would be RMB300-600mn and the repurchase price would be no
more than RMB41/share. The specific amount of shares repurchased and its proportion in the total share capital shall be
subject to the actual amount of shares repurchased at the expiration of the repurchase period. The implementation period
of the share repurchase plan shall not exceed 12 months from the date when the board of directors of the company
deliberates and adopts The Proposal on Share Repurchase Plan of the Company. By March 31 2022 the company has
repurchased 14552236 shares in the form of centralized bidding trading through Zhejiang NHU Co. Ltd. Repurchase
Securities Account accounting for 0.5644% of the company's total share capital. The maximum transaction price is
RMB 31.88/ share the minimum transaction price is RMB 26.15/ share and the cumulative transaction amount is RMB
432464683.56 (excluding transaction costs). The share repurchase plan complies with the requirements of relevant
laws and regulations and the company's established repurchase plan. For more details please refer to The
Announcement on the Progress of Share Repurchase of the Company (2022-008) published on
http://www.cninfo.com.cn
II Progress of the Third Employee Stock Ownership Plan
The third employee stock ownership plan of the Company was deliberated and adopted by the second extraordinary
shareholders’ meeting of 2020 held on November 11 2020 the current employee stock ownership plan is managed by
the Company itself and the Company’s shares are acquired and held by stock purchase through secondary market the
duration shall not exceed 24 months. On February 26 2022 the number of shares held by the third employee stock
ownership plan of the Company was 10131522 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 of
Lock-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 Funds
With the approval of [2017] No. 1684 document of China Securities Regulatory Commission the company's lead
underwriter CSC Securities Co. Ltd. privately issued 175 million common shares (A shares) to specific objects at an
issue price of RMB 28.00/share raising a total of RMB 4900 million. After deducting the underwriting and
recommendation fees of RMB 30 million yuan (including tax) the raised funds amounted to RMB 4870 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
7Securities Code:002001 Securities Abbr: NHU
expenses of RMB 4.62 million (excluding tax) and considering the deductible VAT input tax of RMB 1.70 million of
underwriting fees and recommendation fees deducted by the lead underwriter the net amount of funds raised was RMB
4867.08 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 accumulated
investment of the raised funds project was RMB 2320.12million. By March 31 2022 the balance of raised funds was
RMB 3187.45million (including financial products and structured deposits the net amount of interest on cash in bank
less handling charges gains on financial products and structured deposits received on an accumulated basis).Section Ⅳ Quarterly Financial Statements
Ⅰ Financial Statements
1. Consolidated Balance Sheet
Prepared by Zhejiang NHU Co. Ltd.Mar 31 2022
Unit: RMB Yuan
Items Mar 31 2022 Jan 1 2022
Current assets:
Cash and bank balances 6108319777.72 5952909626.94
Settlement funds
Loans to other banks
Held-for-trading financial assets 908276322.92 1250736359.24
Derivative financial assets
Notes receivable 329579552.94 349145316.03
Accounts receivable 3258816632.85 2755168573.14
Receivables financing 159025346.82 182891179.65
Advances paid 109407357.31 78969960.60
Premiums receivable
Reinsurance accounts receivable
Reinsurance reserve receivable
Other receivables 309137517.45 254497248.13
Including: Interest receivable
Dividend receivable 7159278.00
Financial assets under reverse repo
Inventories 3653314879.66 3193657367.16
Contract assets
Assets held for sale
Non-current assets due within one year
Other current assets 1384916114.26 895782268.87
8Securities Code:002001 Securities Abbr: NHU
Items Mar 31 2022 Jan 1 2022
Total current assets 16220793501.93 14913757899.76
Non-current assets:
Loans and advances
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 373450458.22 351327625.75
Other equity instrument investments 22998147.55 22998147.55
Other non-current financial assets
Investment property
Fixed assets 14273343958.04 14350779852.73
Construction in progress 3723538139.82 2984835072.82
Productive biological assets
Oil & gas assets
Right-of-use assets 3046634.36 3123637.11
Intangible assets 1512226751.57 1521729757.66
Development expenditures
Goodwill 4410005.35
Long-term prepayments 16944948.96 18591707.06
Deferred tax assets 58398503.90 55805191.95
Other non-current assets 657794477.48 501076584.40
Total non-current assets 20646152025.25 19810267577.03
Total assets 36866945527.18 34724025476.79
Current liabilities:
Short-term borrowings 1812995465.03 1403332827.92
Central bank loans
Loans from other banks
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 849710293.39 694124946.73
Accounts payable 1498941098.30 1435966427.76
Advances received
Contract liabilities 46962512.57 61135258.36
Financial liabilities under repo
Absorbing deposit and interbank deposit
Deposit for agency security transaction
Deposit for agency security underwriting
Employee benefits payable 212116998.81 370609333.07
9Securities Code:002001 Securities Abbr: NHU
Items Mar 31 2022 Jan 1 2022
Taxes and rates payable 389193518.77 420743262.69
Other payables 48183738.37 56712103.36
Including: Interest payable
Dividend payable
Handling fee and commission payable
Reinsurance accounts payable
Liabilities held for sale
Non-current liabilities due within one year 2318122207.38 2029499509.43
Other current liabilities 3072497.33 5133310.10
Total current liabilities 7179298329.95 6477256979.42
Non-current liabilities:
Insurance policy reserve
Long-term borrowings 5484579401.22 5148811786.49
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities 3057390.60 2936868.15
Long-term payables
Long-term employee benefits payable
Provisions
Deferred income 1062207483.24 1063699676.16
Deferred tax liabilities 145314508.82 135751304.31
Other non-current liabilities
Total non-current liabilities 6695158783.88 6351199635.11
Total liabilities 13874457113.83 12828456614.53
Equity:
Share capital 2578394760.00 2578394760.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 4121063080.96 4121063080.96
Less: Treasury shares 432499287.04 320360784.48
Other comprehensive income -3529997.46 -1614172.31
Special reserve 14978374.22 12692218.51
Surplus reserve 1289197380.00 1289197380.00
General risk reserve
Undistributed profit 15355792822.89 14152465528.17
Total equity attributable to the parent company 22923397133.57 21831838010.85
10Securities Code:002001 Securities Abbr: NHU
Items Mar 31 2022 Jan 1 2022
Non-controlling interest 69091279.78 63730851.41
Total equity 22992488413.35 21895568862.26
Total liabilities & equity 36866945527.18 34724025476.79
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 4307991748.95 3790255566.08
Including: Operating revenue 4307991748.95 3790255566.08
Interest income
Premiums earned
Revenue from handling charges and
commission
II. Total operating cost 2975781501.41 2456151541.23
Including: Operating cost 2518094547.27 2066876964.92
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 29871875.59 29624782.86
Selling expenses 22790060.34 25596901.14
Administrative expenses 108673875.32 98545580.34
R&D expenses 227817615.86 159873277.76
Financial expenses 68533527.03 75634034.21
Including: Interest expenses 73602297.89 72761812.52
Interest income 23573114.81 7951345.12
Add: Other income 34331441.69 38215703.79
Investment income (or less: losses) 34767170.90 6350902.16
Including: Investment income from
22194461.686208006.98
associates and joint ventures
Gains from derecognition of financial
assets at amortized cost
Gains on foreign exchange (or less: losses)
Gains on net exposure to hedging risk (or
11Securities Code:002001 Securities Abbr: NHU
Items Q1 2022 Q1 2021
less: losses)
Gains on changes in fair value (or less:
12731581.918656495.16
losses)
Credit impairment loss -30326145.11 -27121854.75
Assets impairment loss -7946770.68 -3098341.11
Gains on asset disposal (or less: losses) 4679172.59 1841479.97
III. Operating profit (or less: losses) 1380446698.84 1358948410.07
Add: Non-operating revenue 819683.44 939174.11
Less: Non-operating expenditures 911475.48 1240793.29
IV. Profit before tax (or less: total loss) 1380354906.80 1358646790.89
Less: Income tax 172502286.13 210357643.86
V. Net profit (or less: net loss) 1207852620.67 1148289147.03
(I) Categorized by the continuity of operations
1. Net profit from continuing operations (or less:
1207852620.671148289147.03
net loss)
2. Net profit from discontinued operations (or
less: net loss)
(II) Categorized by the portion of equity
ownership
1. Net profit attributable to owners of parent
1203327294.721144090085.76
company
2. Net profit attributable to non-controlling
4525325.954199061.27
shareholders
VI. Other comprehensive income after tax -1080722.73 -6097332.37
Items attributable to the owners of the parent
-1915825.15-3306897.50
company
(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
-1915825.15-3306897.50
loss
1. Items under equity method that may be
reclassified to profit or loss
2. Changes in fair value of other debt
investments
3. Profit or loss from reclassification of
financial assets into other comprehensive
income
4. Provision for credit impairment of other
debt investments
12Securities Code:002001 Securities Abbr: NHU
Items Q1 2022 Q1 2021
5. Cash flow hedging reserve
6. Translation reserve -1915825.15 -3306897.50
7. Others
Items attributable to non-controlling shareholders 835102.42 -2790434.87
VII. Total comprehensive income 1206771897.94 1142191814.66
Items attributable to the owners of the parent
1201411469.571140783188.26
company
Items attributable to non-controlling
5360428.371408626.40
shareholders
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 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: 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
3613716217.093261253246.04
services
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 241904618.87 139658300.25
13Securities Code:002001 Securities Abbr: NHU
Items Q1 2022 Q1 2021
Other cash receipts related to operating activities 62483265.40 70599669.60
Subtotal of cash inflows from operating activities 3918104101.36 3471511215.89
Cash payments for goods purchased and services
2509609260.221578841733.53
received
Net increase of loans and advances to clients
Net increase of central bank deposit and
interbank deposit
Cash payments for insurance indemnities of
original insurance contracts
Net increase of loans to others
Cash payments for interest handling charges and
commission
Cash payments for policy bonus
Cash paid to and on behalf of employees 633641755.96 479789155.22
Cash payments for taxes and rates 278742445.74 153186283.38
Other cash payments related to operating
73668959.78175674542.40
activities
Subtotal of cash outflows from operating activities 3495662421.70 2387491714.53
Net cash flows from operating activities 422441679.66 1084019501.36
II. Cash flows from investing activities:
Cash receipts from withdrawal of investments
Cash receipts from investment income 16343604.40 9308194.25
Net cash receipts from the disposal of fixed
assets intangible assets and other long-term 1561444.66 2206000.00
assets
Net cash receipts from the disposal of
subsidiaries & other business units
Other cash receipts related to investing activities 1064294950.48 400000000.00
Subtotal of cash inflows from investing activities 1082199999.54 411514194.25
Cash payments for the acquisition of fixed
assets intangible assets and other long-term 865447063.96 698613138.91
assets
Cash payments for investments
Net increase of pledged borrowings
Net cash payments for the acquisition of
5380193.6440000000.00
subsidiaries & other business units
Other cash payments related to investing
1379122507.08471076400.00
activities
Subtotal of cash outflows from investing activities 2249949764.68 1209689538.91
Net cash flows from investing activities -1167749765.14 -798175344.66
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 1637682567.39 2392073940.87
14Securities Code:002001 Securities Abbr: NHU
Items Q1 2022 Q1 2021
Other cash receipts related to financing activities
Subtotal of cash inflows from financing activities 1637682567.39 2392073940.87
Cash payments for the repayment of borrowings 582292030.99 1060973532.91
Cash payments for distribution of dividends or
80697645.3071825784.22
profits and for interest expenses
Including: Cash paid by subsidiaries to
non-controlling shareholders as dividend or
profit
Other cash payments related to financing
2468007.002847895.88
activities
Subtotal of cash outflows from financing activities 665457683.29 1135647213.01
Net cash flows from financing activities 972224884.10 1256426727.86
IV. Effect of foreign exchange rate changes on
-11350293.57-26160428.88
cash & cash equivalents
V. Net increase in cash and cash equivalents 215566505.05 1516110455.68
Add: Opening balance of cash and cash
5714537538.234669306776.09
equivalents
VI. Closing balance of cash and cash equivalents 5930104043.28 6185417231.77
Legal representative: Hu Baifan Officer in charge of accounting: Shi Guanqun Head of accounting department: Wang Xiaobi
II Independent Auditor’s Report
Whether the First Quarterly Report above have been audited.□Yes √ No
The First Quarterly Report has not been audited.Board of Directors of Zhejiang NHU Company Ltd.April 282022
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