SecuritiesCode:002001 Securities Abbr: NHU
Zhejiang NHU Company Ltd.
Q1 2026 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:
report is true, accurate and complete, without any false records, misleading statements or material
omissions, and shall assume individual and joint and several legal liabilities.
in charge of the accounting department (chief accountant) hereby declare that they guarantee the
truth, accuracy and completeness of the financial information disclosed in the quarterly report.
□ Yes √ No
This Q1 2026 Report is an English translation of the Chinese Q1 2026 Report. In case the English version does
not conform to the Chinese version, the Chinese version prevails.
SecuritiesCode:002001 Securities Abbr: NHU
Section I Key Accounting Data
I. Key accounting data and financial indicators
Whether the Company needs to perform retroactive adjustment or restatement on financial data of prior years
□Yes √No
Increase/decrease of the current
Items Q1 2026 Q1 2025 reporting period compared with the
same period of the previous year
Operating revenue (yuan) 6,294,652,672.67 5,439,577,817.97 15.72%
Net profit attributable to
shareholders of listed company 1,827,227,858.46 1,879,910,462.58 -2.80%
(yuan)
Net profit attributable to
shareholders of listed company
after deducting non-recurring profit
or loss (yuan)
Net cash flows from operating
activities (yuan)
Basic EPS (yuan/share) 0.59 0.61 -3.28%
Diluted EPS (yuan/share) 0.59 0.61 -3.28%
Weighted average ROE 5.37% 6.29% Decreased by 0.92 percentage points
Increase/decrease of the current
Items Mar. 31, 2026 Dec. 31, 2025 reporting period compared with the
end of the previous year
Total assets (yuan) 47,454,817,704.07 45,606,449,805.48 4.05%
Net assets attributable to
shareholders of listed company 35,131,790,747.09 32,805,654,181.90 7.09%
(yuan)
II. Non-recurring Profit or Loss for this Period
√ Applicable □ Not applicable
Unit: RMB yuan
Items Q1 2026 Remarks
Gains or losses on disposal of non-current assets, including write-off of provision for
-3,107,154.80
impairment
Government grants included in profit or loss (excluding those closely related to
operating activities of the Company, satisfying government policies and regulations, 17,051,769.52
and continuously enjoyed with certain quantity or quota based on certain standards)
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
Gains or losses on assets consigned to the third party for investment or management 6,135,375.83
Other profit and loss items that meet the definition of non-recurring profit or loss -5,822,660.05
SecuritiesCode:002001 Securities Abbr: NHU
Items Q1 2026 Remarks
Less: Enterprise income tax affected 10,051,669.46
Non-controlling interest affected (after tax) 123,346.94
Total 51,069,189.89 --
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
（1）The closing balance of Advances paid increased by 30.60% compared to the closing balance at the beginning of the year. It
was mainly due to the increase in prepayments to suppliers during the reporting period.
（ 2 ） The closing balance of Other equity instrument investment decreased by 44.44% compared to the closing balance at the
beginning of the year. It was mainly due to the increase in dividend income recognised during the reporting period, with the
carrying amount of the corresponding investments reduced accordingly.
（3）The closing balance of Deferred tax assets increased by 231.54% compared to the closing balance at the beginning of the
year. It was mainly due to the increase in credit impairment losses recognised during the reporting period, which has led to a
higher provision for deferred income tax.
（4）The closing balance of Short-term borrowings increased by 49.27% compared to the closing balance at the beginning of the
year. It was mainly due to the increase in short-term credit borrowings during the reporting period.
（5）The closing balance of Notes payable decreased by 49.41% compared to the closing balance at the beginning of the year. It
was mainly due to the redemption of matured bank acceptance bills during the reporting period.
（6）The closing balance of Contract liabilities increased by 34.13% 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.
SecuritiesCode:002001 Securities Abbr: NHU
（7）The closing balance of Employee benefits payable decreased by 55.61% compared to the closing balance at the beginning
of the year. It was mainly due to the payment of year-end bonuses accrued in the prior year during the reporting period.
（8）The closing balance of Other accounts payables decreased by 63.31% compared to the closing balance at the beginning of
the year. It was mainly due to the settlement of accrued and unsettled expenses during the reporting period.
（9）The closing balance of Other current liabilities increased by 493.60% compared to the closing balance at the beginning of
the year. It was mainly due to the issuance of technological innovation bonds during the reporting period.
（1）Taxes and surcharges in the current Q1 period increased by 36.74% compared to the same period of last year. It was mainly
due to the increase in urban construction tax and education surcharges during the reporting period.
（2）Financial expenses in the current Q1 period increased by 329.91% compared to the same period of last year. It was mainly
due to the increase in foreign exchange losses during the reporting period.
（3）Investment income in the current Q1 period increased by 3,571.04% compared to the same period of last year. It was mainly
due to the combined impact of the increase in the net profit of associates and joint ventures during the reporting period, a
corresponding rise in investment income recognised by the Company under the equity method, and higher investment income from
the disposal of trading financial assets.
（4）Gains on changes in fair value in the current Q1 period increased by 132.88% compared to the same period of last year. It
was mainly due to the increase in fair value as a result of exchange rate fluctuations during the reporting period.
（ 5 ） Credit impairment loss in the current Q1 period increased by 858.66% compared to the same period of last year. It was
mainly due to the increase in credit impairment losses provisioned for changes in accounts receivable resulting from higher sales
revenue.
（ 6 ）Asset impairment losses in the current Q1 period decreased by 46.35% compared to the same period of last year. It was
mainly due to the decrease in the provision for inventory depreciation recognised during the reporting period.
（ 7 ） Gains on asset disposal in the current Q1 period decreased by 57.47% compared to the same period of last year. It was
mainly due to the decrease in external sales of waste materials during the reporting period.
（8）Non-operating income in the current Q1 period increased by 30.13% compared to the same period of last year. It was mainly
due to the increase in compensation income during the reporting period.
（9）Non-operating expenses in the current Q1 period increased by 665.69% compared to the same period of last year. It was
mainly due to the asset write-offs and late payment surcharges incurred during the reporting period.
（1）Net cash flows from investing activities in the current Q1 period increased by 64.08% compared to the same period of last
year. It was mainly due to the increase in the redemption of beginning-period bank wealth management products during the
reporting period.
SecuritiesCode:002001 Securities Abbr: NHU
（2）Net cash flows from financing activities in the current Q1 period increased by 185.35% compared to the same period of last
year. It was mainly due to the increase in bank loans obtained during the reporting period.
（3）Net increase in cash and cash equivalents in the current Q1 period increased by 530.97% compared to the same period of
last year. It was mainly due to increase in bank loans obtained, the issuance of technological innovation bonds, and decrease in the
purchase of bank wealth management products during the reporting period.
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 at the end of the
reporting period
reporting period
Information about top 10 shareholders（Excluding shares lent through refinancing）
Nature of Holding Quantity of Shares pledged, marked or frozen
Shareholders Quantity of shares
shareholders proportion restricted shares Condition Quantity
Domestic non-state-
NHU Holding Group Co., Ltd. 50.08% 1,539,232,431 0 N/A 0
owned legal person
Hong Kong Securities Clearing Overseas legal
Company Limited person
China Construction Bank
Corporation - E Fund Shanghai
and Shenzhen 300 Medical and Others 0.70% 21,627,982 0 N/A 0
Health Trading Open-end Index
Fund
The Company－Employee stock
Others 0.70% 21,454,310 0 N/A 0
ownership plan phase V
Industrial and Commercial Bank
of China Limited – China-Europe
Others 0.67% 20,716,461 0 N/A 0
Healthcare Mixed Securities
Investment Fund
National Social Security Fund
Others 0.48% 14,600,000 0 N/A 0
No.503 Portfolio
Domestic natural
Hu baishan 0.47% 14,595,929 10,946,947 N/A 0
person
Domestic natural
Hu baifan 0.45% 13,922,998 10,442,248 N/A 0
person
Industrial and Commercial Bank
of China Limited – Huatai-
PineBridge CSI 300 Traded Open- Others 0.40% 12,307,373 0 N/A 0
end Index Securities Investment
Fund
Domestic natural
Shi Guanqun 0.35% 10,677,838 8,008,378 N/A 0
person
SecuritiesCode:002001 Securities Abbr: NHU
Information about top 10 shareholders without trading restrictions
(excluding shares lent through transfer facility and shares locked up by executives)
Category of shares
Shareholders Quantity of non-restricted shares
Category Quantity
RMB ordinary
NHU Holding Group Co., Ltd. 1,539,232,431 1,539,232,431
shares
RMB ordinary
Hong Kong Securities Clearing Company Limited 133,444,475 133,444,475
shares
China Construction Bank Corporation - E Fund RMB ordinary
Shanghai and Shenzhen 300 Medical and Health 21,627,982 21,627,982
Trading Open-end Index Fund shares
The Company－Employee stock ownership plan RMB ordinary
phase V shares
Industrial and Commercial Bank of China Limited RMB ordinary
– China-Europe Healthcare Mixed Securities 20,716,461 20,716,461
Investment Fund shares
RMB ordinary
National Social Security Fund No.503 Portfolio 14,600,000 14,600,000
shares
Industrial and Commercial Bank of China Limited RMB ordinary
– Huatai-PineBridge CSI 300 Traded Open-end 12,307,373 12,307,373
Index Securities Investment Fund shares
RMB ordinary
Yu Baomu 10,548,900 10,548,900
shares
China Universal Fund Management Co., Ltd. – RMB ordinary
Social Security Fund Portfolio 16032 shares
RMB ordinary
Wu Wenping 8,641,514 8,641,514
shares
The above shareholder, Hu Baifan is the Chairman, General Manager and actual
controller of NHU Holding Group Co., Ltd.; Hu Baishan is a Director of NHU
Holding Group Co., Ltd., and Hu Baifan and Hu Baishan are brothers. Shi Guanqun is
a Director of NHU Holding Group Co., Ltd. Hu Baifan, Hu Baishan and Shi Guanqun
Explanation on associated relationship or concerted
have connected relations with Zhejiang NHU Co., Ltd. - Phase V Employee Stock
actions among above shareholders
Ownership Plan due to their participation in the employee stock ownership plan. 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”.
Yu Baomu holds 10,548,900 shares through the client margin trading secured
Explanation on top 10 shareholders’ participating in securities account of Guotai Haitong Securities Co., Ltd.; Wu Wenping holds
securities margin trading 8,641,514 shares through the client margin trading secured securities account of
Caitong Securities Co., Ltd.
Shareholders holding more than 5% of shares, top 10 shareholders and top 10 shareholders with unlimited shares in circulation
participating in the lending of shares in the transfer and financing business.
□ Applicable √Not applicable
SecuritiesCode:002001 Securities Abbr: NHU
The top 10 shareholders and the top 10 holders of unlimited shares have experienced changes due to participating in the lending of
shares 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
The fifth phase of the employee stock ownership plan of the Company was deliberated and approved by the third extraordinary
general meeting in 2025 held on December 26, 2025. The current employee stock ownership plan is managed by the Company
itself, acquired company shares repurchased through the Company's repurchase-dedicated securities account for repurchases
and/or obtained through purchases in the secondary market (including but not limited to block trades and centralized bidding
transactions) or by other means permitted by laws and regulations, and the plan's duration will not exceed 24 months. The
Company's fifth employee stock ownership plan acquired, by non-trade transfer, 21,454,310 shares repurchased by the Company,
representing 0.6981% of the company's total share capital. All were sourced from the aforementioned repurchased shares, and the
transfer price was RMB 24.19 per share. The lock-up period for the shares obtained under the fifth employee stock ownership plan
is 12 months, calculated from the date the Company announces that the last tranche of the target shares has been registered and
transferred to the Fifth Employee Stock Ownership Plan, covering the period from January 27, 2026 to January 26, 2027. For
details, please refer to the "Announcement on the Progress of Implementation of the Fifth Employee Stock Ownership Plan"
(2026-003) published by the Company on designated information disclosure media and CNINFO website
(http://www.cninfo.com.cn).
The 14th Meeting of the Ninth Session of the Board of Directors held on August 26, 2025, and the Second Extraordinary General
Meeting of 2025 held on September 12, 2025, deliberated and approved the "Proposal on Applying for Registration and Issuance
of Debt Financing Instruments". To meet the Company's rapid development funding needs, optimize its financing structure, and
reduce financing costs, the Company intends to apply to the National Association of Financial Market Institutional Investors for
registration to issue non-financial enterprise debt financing instruments with an aggregate amount not exceeding RMB
years), short-term financing notes (maturities not exceeding 1 year), and ultra-short-term financing notes (maturities not exceeding
SecuritiesCode:002001 Securities Abbr: NHU
production and operating activities, including but not limited to project construction in the field of scientific and technological
innovation, R&D investment, repayment of interest-bearing debt, and supplementing working capital. In light of the Company’s
capital arrangement and interbank market conditions, the Company issued the 2026 Phase I Scientific and Technological
Innovation Bonds in the national interbank market on January 30, 2026, which were listed and traded on February 3, 2026. The
total issuance amount is RMB 500 million with a bond term of 270 days. For details, please refer to the Announcement on the
Issuance Results of 2026 Phase I Scientific and Technological Innovation Bonds (Document No. 2026-004) published by the
Company on designated information disclosure media and CNINFO website (http://www.cninfo.com.cn).
Section Ⅳ Quarterly Financial Statements
Ⅰ .Financial statements
Prepared by Zhejiang NHU Co., Ltd.
Mar 31, 2026
Unit: RMB Yuan
Items Mar 31, 2026 Jan 1, 2026
Current assets:
Cash and bank balances 9,621,006,154.20 7,966,270,131.17
Settlement funds
Loans to other banks
Trading Financial Assets 2,356,826,507.94 2,168,275,092.55
Derivative financial assets
Notes receivable
Accounts receivable 3,639,411,247.88 3,331,434,677.27
Receivables financing 965,215,351.71 813,062,385.73
Prepayments 233,048,162.47 178,450,145.87
Insurance premium receivable
Reinsurance accounts
receivable
Reserves for reinsurance contract
receivable
Other receivables 231,391,027.89 274,052,669.41
Including: Interest
receivable
Dividend receivable
Financial assets purchased under
resale agreement
Inventories: 4,449,974,725.18 4,648,749,467.43
SecuritiesCode:002001 Securities Abbr: NHU
Items Mar 31, 2026 Jan 1, 2026
Including: data resources
Contract assets
Assets held for sale
Non-current assets due within
one year
Other current assets 49,661,739.69 55,037,719.63
Total current assets 21,546,534,916.96 19,435,332,289.06
Non-current assets:
Loans and advances
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 1,035,370,292.05 965,350,549.43
Other equity instrument
investments
Other non-current financial
assets
Investment property
Fixed assets 19,923,210,018.30 20,298,898,673.14
Construction in progress 752,792,747.21 745,117,350.86
Productive biological assets
Oil & gas assets
Right-of-use assets 9,624,126.98 9,116,717.87
Intangible assets 2,579,105,859.60 2,590,073,891.40
Including: data resources
Development expenditures
Including: data resources
Goodwill 3,622,704.97 3,622,704.97
Long-term deferred expenses 16,569,888.28 19,477,100.43
Deferred tax assets 8,926,561.10 2,692,450.99
Other non-current assets 1,545,654,441.07 1,476,641,929.78
Total non-current assets 25,908,282,787.11 26,171,117,516.42
Total assets 47,454,817,704.07 45,606,449,805.48
Current liabilities:
Short-term borrowings 1,007,842,815.34 675,172,682.37
Central bank loans
Loans from other banks
Financial liabilities held for
trading
Derivative financial liabilities
Notes payable 35,441,575.25 70,054,101.63
SecuritiesCode:002001 Securities Abbr: NHU
Items Mar 31, 2026 Jan 1, 2026
Accounts payable 1,648,505,857.13 1,780,307,765.08
Advance receipts
Contract liabilities 395,447,261.06 294,819,090.20
Financial assets sold for
repurchase
Deposits and interbank deposits
received
Receiving from Vicariously
Traded Securities
Receiving from Vicariously Sold
Securities
Employee benefits payable 227,066,815.92 511,515,144.15
Taxes and rates payable 670,507,469.13 669,468,878.66
Other payables 48,319,793.54 131,685,145.99
Including: Interest payable
Dividend payable
Handling fee and commission
payable
Reinsurance accounts payable
Liabilities held for sale
Non-current liabilities due
within one year
Other current liabilities 589,793,418.95 99,358,351.24
Total current liabilities 7,644,640,865.79 7,397,795,032.81
Non-current liabilities:
Insurance policy reserve
Long-term borrowings 3,487,138,235.69 4,187,178,569.02
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities 2,515,887.52 2,500,183.66
Long-term payables
Long-term employee benefits
payable
Provisions
Deferred income 880,672,887.29 906,007,748.59
Deferred income tax liabilities 150,107,635.54 152,052,864.16
Other non-current liabilities
Total non-current liabilities 4,520,434,646.04 5,247,739,365.43
Total liabilities 12,165,075,511.83 12,645,534,398.24
Equity:
Share capital 3,073,421,680.00 3,073,421,680.00
Other equity instruments
SecuritiesCode:002001 Securities Abbr: NHU
Items Mar 31, 2026 Jan 1, 2026
Including: Preferred shares
Perpetual bonds
Capital reserve 3,169,474,029.36 3,135,683,253.49
Less: Treasury shares 70,972,212.67 556,161,195.70
Other comprehensive income 47,602,421.07 67,743,496.72
Special reserve 162,126,397.06 162,056,373.58
Surplus reserve 1,545,453,678.00 1,545,453,678.00
General risk reserve
Undistributed profits 27,204,684,754.27 25,377,456,895.81
Total equity attributable to the parent
company
Non-controlling interest 157,951,445.15 155,261,225.34
Total equity 35,289,742,192.24 32,960,915,407.24
Total liabilities and equity 47,454,817,704.07 45,606,449,805.48
Legal representative: Hu Baifan Officer in charge of accounting: Shi Guanqun Head of accounting department: Wang Xiaobi
Unit: RMB Yuan
Items Q1 2026 Q1 2025
I. Total operating revenue 6,294,652,672.67 5,439,577,817.97
Including: Operating revenue 6,294,652,672.67 5,439,577,817.97
Interest income
Earned premiums
Fee and Commission
Income
II. Total operating cost 4,263,103,073.75 3,332,670,522.53
Including: Operating cost 3,595,444,088.78 2,899,276,314.75
Interest expenses
Handling charges and
commission expenses
Surrender value
Net claims paid
Net provision for insurance
liabilities
Policyholder Dividend
Expense
Reinsurance expenses
Taxes and surcharges 68,983,022.08 50,448,500.49
Selling expenses 40,473,214.75 34,003,560.61
Administrative expenses 142,927,144.31 154,462,169.44
R&D expenses 271,693,663.89 256,931,534.29
SecuritiesCode:002001 Securities Abbr: NHU
Items Q1 2026 Q1 2025
Financial expenses 143,581,939.94 -62,451,557.05
Including: Interest
expenses
Interest income 7,947,853.61 17,375,893.08
Add: Other income 51,678,444.42 63,862,670.45
Investment income (“-” for
loss)
Including: Investment
income from associates and joint 37,283,100.18 10,902,603.70
ventures
Gain on derecognition of
financial assets measured at
amortized cost
Exchange gains (“-” for loss)
Net-exposure hedging
income (“-”for loss)
Fair value change gains(“-”
for loss)
Credit impairment loss(“-” for
-20,415,695.29 2,691,018.23
loss)
Assets impairment loss(“-” for
-8,261,978.21 -15,398,773.86
loss)
Gains on asset disposal (“-
-583,881.23 -370,793.75
”for loss)
III. Operating profit (“-”for loss) 2,144,371,840.45 2,143,877,229.15
Add: Non-operating revenue 1,153,274.53 886,224.27
Less: Non-operating expense 9,499,208.15 1,240,606.56
IV. Profit before tax (“-” for total
losses)
Less: Income tax expense 300,302,181.04 255,791,673.71
V. Net profit (“-” for net loss) 1,835,723,725.79 1,887,731,173.15
(I) Categorized by the continuity
of operations
operations (“-” for net loss)
operations (“-” for net loss)
(II) Categorized by the portion of
equity ownership
shareholders of the parent company
controlling shareholders
VI. Other comprehensive income
after tax
Items attributable to the owners of
the parent company
(I) Other comprehensive
income that cannot be reclassified 29,253,600.00
into profit or loss
SecuritiesCode:002001 Securities Abbr: NHU
Items Q1 2026 Q1 2025
on the net defined benefit plan
that will not be reclassified to profit
or loss
other equity instrument investments
own credit risk
(II) Other comprehensive
income that will be reclassified into -20,141,075.65 14,918,970.14
profit or loss
that may be reclassified to profit or
loss
other debt investments
reclassification of financial assets
into other comprehensive income
impairment of other debt
investments
Net after-tax other comprehensive
income attributable to non- -5,805,647.52 4,879,228.62
controlling shareholders
VII. Total comprehensive income 1,839,030,602.62 1,907,529,371.91
Total comprehensive income
attributable to owners of the parent 1,836,340,382.81 1,894,829,432.72
company
Total comprehensive income
attributable to non-controlling 2,690,219.81 12,699,939.19
shareholders
VIII. Earnings per share (EPS):
(I) Basic EPS (yuan per share) 0.59 0.61
(II) Diluted EPS (yuan per share) 0.59 0.61
Legal representative: Hu Baifan Officer in charge of accounting: Shi Guanqun Head of accounting department: Wang Xiaobi
Unit: RMB Yuan
Items Q1 2026 Q1 2025
I. Cash flows from operating
activities:
Cash receipts from sale of goods
or rendering of services
SecuritiesCode:002001 Securities Abbr: NHU
Items Q1 2026 Q1 2025
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 267,285,990.24 248,726,554.32
Other cash receipts related to
operating activities
Subtotal of cash inflows from
operating activities
Cash payments for goods
purchased and services 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
Cash payments for taxes and rates 682,964,790.29 577,767,837.08
Other cash payments related to
operating activities
Subtotal of cash outflows from
operating activities
Net cash flows from operating
activities
II. Cash flows from investing
activities:
Cash receipts from withdrawal of
investments
Cash receipts from investment
income
SecuritiesCode:002001 Securities Abbr: NHU
Items Q1 2026 Q1 2025
Net cash receipts from the
disposal of fixed assets, intangible
assets and other long-term assets
Net cash receipts from the
disposal of subsidiaries & other
business units
Other cash receipts related to
investing activities
Subtotal of cash inflows from
investing activities
Cash payments for the acquisition
of fixed assets, intangible assets and 349,194,543.42 295,693,688.24
other long-term assets
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
Subtotal of cash outflows from
investing activities
Net cash flows from investing
-518,803,058.46 -1,444,397,169.27
activities
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 1,587,459,439.00 572,494,106.93
Other cash receipts related to
financing activities
Subtotal of cash inflows from
financing activities
Cash payments for the repayment
of borrowings
Cash payments for distribution of
dividends or profits and for interest 42,164,325.50 673,702,768.85
expenses
Including: Cash paid by
subsidiaries to non-controlling
shareholders as dividend or profit
Other cash payments related to
financing activities
Subtotal of cash outflows from
financing activities
Net cash flows from financing
activities
IV. Effect of foreign exchange rate
changes on cash & cash equivalents
SecuritiesCode:002001 Securities Abbr: NHU
Items Q1 2026 Q1 2025
V. Net increase in cash and cash
equivalents
Add: Opening balance of cash and
cash equivalents
VI. Closing balance of cash and cash
equivalents
Legal representative: Hu Baifan Officer in charge of accounting: Shi Guanqun Head of accounting department: Wang Xiaobi
II. Adjustments to financial statements at the beginning of the year of first implementation of new
accounting standards for the first time from 2026 onwards
□ Applicable √Not applicable
III. 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 29, 2026
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