Shenzhen Zhongheng Huafa Co., Ltd. Third Quarter Report 2026
Stock Code: 000020, 200020 Public Notice No.:2026-38
Short Form of the Stock: SHEN Huafa-A, SHEN Huafa-B
Shenzhen Zhongheng Huafa Co., Ltd.
Third Quarter Report 2026
The Company and all members of the Board of Directors warrant that the contents of the information disclosed are true,
accurate and complete, and that there are no false records, misleading statements or material omissions.
Key Contents Reminder:
no false records, misleading statements or material omissions, and shall assume individual and joint legal liabilities.
(accounting supervisor) declare: to warrant that the financial information in the quarterly report is true, accurate and complete.
□ Yes No
Shenzhen Zhongheng Huafa Co., Ltd. Third Quarter Report 2026
I. Key Financial Data
(I) Key Accounting Data and Financial Indicators
Whether the Company needs to retrospectively adjust or restate accounting data of prior years
□ Yes No
Change from
Change of This
From Beginning of Beginning of Year to
Reporting Period vs.
This Reporting Period Year to End of End of Reporting
Same Period of Last
Reporting Period Period vs. Same Period
Year
of Last Year
Operating Revenue
(RMB)
Net Profit Attributable
to Shareholders of the
Listed Company
(RMB)
Net Profit Attributable
to Shareholders of the
Listed Company after
Deducting Non-
recurring Gains and
Losses (RMB)
Net Cash Flow
Generated from
— — -18,726,002.84 58.08%
Operating Activities
(RMB)
Basic Earnings per
Share (RMB/Share)
Diluted Earnings per
Share (RMB/Share)
Weighted Average
Return on Net Assets
End of This Reporting Change of End of This Reporting Period vs. End
End of Previous Year
Period of Previous Year
Total Assets (RMB) 700,962,220.31 719,475,048.61 -2.57%
Owner's Equity
Attributable to
Shareholders of the 450,403,599.13 439,099,871.03 2.57%
Listed Company
(RMB)
(II) Non-recurring Gains and Losses Items and Amounts
Applicable □ Not Applicable
Unit: RMB
Amount from Beginning of
Amount of This Reporting
Item Year to End of Reporting Note
Period
Period
Gains/Losses on Disposal of
Non-current Assets (including
the written-off portion of
recognized asset impairment
Shenzhen Zhongheng Huafa Co., Ltd. Third Quarter Report 2026
provisions)
Other Non-operating Income
and Expenses Other Than the 201,759.77 319,781.42
Above Items
Returns on Wealth
Management
Less: Income Tax Impact 53,430.19 146,914.88
Total 291,687.79 734,678.28 --
Specific situations of other profit or loss items that meet the definition of non-recurring gains and losses:
□ Applicable Not Applicable
The Company has no other specific situations of profit or loss items that meet the definition of non-recurring gains and losses.
Explanation on defining the non-recurring gains and losses items listed in the "Explanatory Announcement on Information
Disclosure of Companies Offering Securities Publicly No. 1 — Non-recurring Gains and Losses" as recurring gains and losses
items
□ Applicable Not Applicable
The Company has no situation of defining the non-recurring gains and losses items listed in the "Explanatory Announcement on
Information Disclosure of Companies Offering Securities Publicly No. 1 — Non-recurring Gains and Losses" as recurring gains
and losses items.
(III) Situation and Reasons for Changes of Key Accounting Data and Financial Indicators
Applicable □ Not Applicable
Item Sep 30, 2026 Jan 1, 2026 Change Reason for Change
Ratio
Notes Receivable 6,153,899.39 2,165,561.63 184.17% Settlement by notes
increased year-on-year
Prepayments 21,213,339.01 31,330,124.82 -32.29% Decrease in
prepayments for
procurement
Other Receivables 4,824,891.83 3,475,589.89 38.82% Loans increased
Other Current Assets 1,064,396.77 6,273,392.36 -83.03% Decrease in VAT credit
carryforward
Notes Payable 52,669,868.93 78,762,931.46 -33.13% Purchase amount
decreased,
corresponding notes
payable decreased
Employee Benefits 5,606,672.59 9,604,968.37 -41.63% Staff reduction and
Payable profit decline led to
lower wages
Taxes Payable 11,673,258.50 16,942,217.60 -31.10% Orders decreased, staff
reduction
Other Payables 43,284,387.01 31,864,180.93 35.84% Accrued after-sales
expenses
Other Current 8,437,416.33 14,724,338.55 -42.70% Decrease in endorsed
Liabilities notes
Item Jan-Sep 2026 Jan-Sep 2025 Change Reason for Change
Ratio
Shenzhen Zhongheng Huafa Co., Ltd. Third Quarter Report 2026
Other Income 450,196.29 4,090,206.03 -88.99% Government subsidies
decreased in this period
Investment Income 117,707.71 554,508.88 -78.77% Wealth management
products decreased
Cash paid for other 21,366,437.77 47,002,253.44 -54.54% Export tax refunds
operating activities decreased in this period
Cash received from 117,707.71 554,508.88 -78.77% Wealth management
investment income products decreased
Cash received from 153,000,000.00 305,000,000.00 -49.84% Purchase of wealth
other investing management products
activities decreased in this period
Cash paid for other 153,000,000.00 305,000,000.00 -49.84% Purchase of wealth
investing activities management products
decreased in this period
II. Shareholder Information
(I) Total Number of Ordinary Shareholders, Number of Preferred Shareholders with Restored Voting
Rights and Shareholding of the Top 10 Shareholders
Unit: Share
Total Number of Ordinary Total Number of Preferred Shareholders with
Shareholders at End of Reporting 29,443 Restored Voting Rights at End of Reporting Period (if 0
Period any)
Shareholding of the Top 10 Shareholders (excluding shares lent through refinancing)
Number of Pledge, Marking or Freeze
Shareholder Nature of Shareholding Number of Shares Subject Situation
Name Shareholder Ratio Shares Held to Selling
Share Status Number
Restrictions
Wuhan
Zhongheng New
Domestic
Technology
Non-state-
Industry Group 41.00% 116,100,000 0 Frozen 116,100,000
owned Legal
Co., Ltd.
Person
Sage (Hong
Overseas
Kong) Co., Ltd. 5.85% 16,569,560 0 Not Applicable 0
Legal Person
Domestic
Yao Ming Natural 2.76% 7,816,044 0 Not Applicable 0
Person
GOOD HOPE
Overseas
CORNER INVESTM 2.50% 7,072,000 0 Not Applicable 0
Legal Person
ENTS LTD.
Changjiang
Securities
Brokerage (Hong Overseas
Kong) Co., Ltd. Legal Person
Guoyuan Overseas 1.37% 3,870,117 0 Not Applicable 0
Shenzhen Zhongheng Huafa Co., Ltd. Third Quarter Report 2026
Securities Legal Person
Brokerage (Hong
Kong) Co., Ltd.
Goldman, LLC Overseas
Legal Person
Overseas
Li Zhongqi Natural 1.00% 2,830,000 0 Not Applicable 0
Person
Overseas
UBS AG 0.53% 1,508,955 0 Not Applicable 0
Legal Person
Sheng Yin
Investment Overseas
Limited Legal Person
Shareholding of the Top 10 Holders of Unrestricted Shares (excluding shares lent through refinancing and shares locked by senior
management)
Type and Number of Shares
Shareholder Name Number of Unrestricted Shares Held
Type of Shares Number
Wuhan Zhongheng New
RMB Ordinary
Technology Industry Group Co., 116,100,000 116,100,000
Shares
Ltd.
Sage (Hong Kong) Co., Ltd. Domestic-listed
Foreign Shares
Domestic-listed
Yao Ming 7,816,044 7,816,044
Foreign Shares
GOOD HOPE CORNER INVESTMENTS Domestic-listed
LTD. Foreign Shares
Changjiang Securities Brokerage Domestic-listed
(Hong Kong) Co., Ltd. Foreign Shares
Guoyuan Securities Brokerage Domestic-listed
(Hong Kong) Co., Ltd. Foreign Shares
RMB Ordinary
Goldman, LLC 3,176,592 3,176,592
Shares
Domestic-listed
Li Zhongqi 2,830,000 2,830,000
Foreign Shares
RMB Ordinary
UBS AG 1,508,955 1,508,955
Shares
Sheng Yin Investment Limited Domestic-listed
Foreign Shares
Among the top 10 shareholders, Li Zhongqi is the actual controller of
Wuhan Zhongheng Group; Sheng Yin Investment Limited is a wholly-
owned overseas subsidiary of Wuhan Zhongheng Group. Other than that,
Explanation on Related-party Relationship or
the Company is not aware of any related-party relationship among other
Concerted Action Among the Above Shareholders
shareholders, nor whether they constitute persons acting in concert as
defined in the "Administrative Measures for the Information Disclosure
of Changes in Shareholdings of Shareholders of Listed Companies".
Explanation on Participation of the Top 10
Shareholders in Margin Trading and Securities None
Lending (if any)
Situation of securities lending by shareholders holding 5% or more, the top 10 shareholders and the top 10 holders of unrestricted
circulating shares in the refinancing securities lending business
□ Applicable Not Applicable
Changes of the top 10 shareholders and the top 10 holders of unrestricted circulating shares compared with the previous period due
to refinancing lending/return
Shenzhen Zhongheng Huafa Co., Ltd. Third Quarter Report 2026
□ Applicable Not Applicable
(II) Total Number of Preferred Shareholders and Shareholding of the Top 10 Preferred Shareholders of
the Company
□ Applicable Not Applicable
III. Other Significant Matters
Applicable □ Not Applicable
(I) Asset Replacement and Urban Renewal Project Involving Wuhan Zhongheng New Technology Industry
Group Co., Ltd.
On April 29, 2009, the Company and Wuhan Zhongheng New Technology Industry Group Co., Ltd.
(hereinafter referred to as “Wuhan Zhongheng Group”) signed the Asset Replacement Contract (for details,
please refer to the Company’s announcement dated April 30, 2009). Among the assets replaced out by the
Company, two parcels of industrial land located on Huafa Road, Gongming Town, Guangming New District,
Shenzhen (with real estate title certificate numbers “Shen Fang Di Zi No. 7226760” and “Shen Fang Di
Zi No. 7226763”, parcel numbers “A627-005” and “A627-007”, with a total area of approximately 48,200
square meters) were included in the First Batch of Plans for the Formulation of Shenzhen Urban Renewal
Unit Planning in 2010. To facilitate the advancement of the urban renewal project and in accordance with
the principle of joint cooperative development, the transfer procedures for the above-mentioned plots
have not yet been completed.
At the First Extraordinary Meeting of the Board of Directors held on February 16, 2015, and the First
Extraordinary General Meeting of Shareholders held on March 4, 2015, the Company reviewed and approved
the Proposal on Promoting the Implementation of the “Huafa Area Renewal Unit” Urban Renewal Project in
Gongming Subdistrict, Guangming New District, Shenzhen. It was clarified that prior to land development,
the Company and Wuhan Zhongheng Group would each receive corresponding relocation compensation
consideration for the project plots they respectively enjoyed and the above-ground structures funded and
constructed by them. According to calculations, the relocation compensation consideration expected to be
received by the Company accounted for 50.5% of the total consideration, while that of Wuhan Zhongheng
Group accounted for 49.5%.
At the Sixth Extraordinary Meeting of the Board of Directors and the Third Extraordinary General
Meeting of Shareholders in 2015, the Company reviewed and approved the Proposal on the Progress of
Related-Party Transactions Regarding the Promotion and Implementation of the “Huafa Area Renewal Unit”
Urban Renewal Project in Gongming Subdistrict, Guangming New District, Shenzhen. On August 26, 2015, the
Company signed the Agreement on Cooperation for the “Huafa Area Renewal Unit” Urban Renewal Project in
Gongming Subdistrict, Guangming New District, Shenzhen, the Cooperative Operation Contract for the Old
Reform Project of Huafa Industrial Zone in Gongming Subdistrict, Guangming New District, and the House
Acquisition and Relocation Compensation and Resettlement Agreement with Wuhan Zhongheng Group, Shenzhen
Vanke Real Estate Co., Ltd. (hereinafter referred to as “Shenzhen Vanke”), and Shenzhen Vanke Guangming
Real Estate Development Co., Ltd. (hereinafter referred to as “Vanke Guangming”).
In September 2016, Shenzhen Vanke filed a lawsuit against the Company and Wuhan Zhongheng Group
regarding the Cooperative Operation Contract for the Old Reform Project of Huafa Industrial Zone in
Gongming Subdistrict, Guangming New District. The Shenzhen Court of International Arbitration (South
Shenzhen Zhongheng Huafa Co., Ltd. Third Quarter Report 2026
China International Economic and Trade Arbitration Commission) issued an award in August 2017. On August
due to a third party filing an “objection to enforcement” and an application for “non-enforcement”
with the Shenzhen Intermediate People ’ s Court, the Shenzhen Intermediate People ’ s Court ruled to
terminate the enforcement procedure for the current time on March 20, 2020. As of the disclosure date of
this report, the case has resumed enforcement upon Shenzhen Vanke ’ s application. For details on the
progress of the case, please refer to the announcements published on Cninfo on September 14, 2016;
November 1, 2016; November 16, 2016; February 18, 2017; March 24, 2017; April 25, 2017; July 1, 2017;
August 18, 2017; February 9, 2018; August 25, 2018; September 7, 2018; April 21, 2020; June 3, 2021; July
In May 2026, Shenzhen Vanke filed another lawsuit against the Company and Wuhan Zhongheng Group
regarding the Cooperative Operation Contract for the Old Reform Project of Huafa Industrial Zone in
Gongming Subdistrict, Guangming New District. For details, please refer to the Company’s Announcement on
Litigation and Arbitration published on Cninfo on May 8, 2026.
(II) Share Pledge by Wuhan Zhongheng Group
On December 31, 2015, Wuhan Zhongheng Group pledged 88,750,047 shares of the Company held by it to
China Merchants Securities Asset Management Co., Ltd., with a repurchase maturity date of December 31,
held by it to China Merchants Securities Asset Management Co., Ltd., also with a repurchase maturity date
of December 31, 2016. Wuhan Zhongheng Group extended the aforementioned share pledges, with the pledge
expiry date extended to December 31, 2017, and the repurchase transaction date extended until the actual
date of pledge release. As of the disclosure date of this report, the controlling shareholder has not yet
released the pledges. The Company has sent inquiry letters to the controlling shareholder and published
the Indicative Announcement on the Share Pledge Status of the Controlling Shareholder. For details,
please refer to the Company’s announcement published on Cninfo on February 2, 2018.
In March 2021, Wuhan Zhongheng Group received the first-instance judgment from the Guangdong
Provincial Higher People’s Court regarding the “pledged securities repurchase dispute” case filed by
China Merchants Securities Asset Management Co., Ltd. Dissatisfied with the judgment, Wuhan Zhongheng
Group appealed to the Supreme People’s Court. The Supreme People’s Court ruled to remand the case to
the Guangdong Provincial Higher People’s Court for retrial. Judgments from both the first-instance court
and the second-instance court have been issued. For details, please refer to the Company’s Announcement
on the Progress of Major Litigation and Arbitration Cases Involving the Controlling Shareholder published
on Cninfo on August 17, 2022; February 12, 2025; and October 22, 2026.
(III) Judicial Freezing and Disposal of Shares Held by the Controlling Shareholder
The controlling shareholder, Wuhan Zhongheng Group, originally held 119,289,894 shares of the Company,
accounting for 42.13% of the Company ’ s total share capital. Among these, 116,489,894 shares were
judicially frozen by the Shenzhen Intermediate People ’ s Court (hereinafter referred to as “ Shenzhen
Intermediate Court ” ) on September 27, 2016; subject to waiting-list freezing by Shenzhen Intermediate
Court on December 14, 2018; and subject to waiting-list freezing by the Wuhan Intermediate People ’ s
Court, Hubei Province on March 10, 2026. The remaining 2,800,000 shares were frozen by Shenzhen
Intermediate Court on May 29, 2019, and subject to waiting-list freezing by the Guangdong Provincial
Higher People’s Court on July 5, 2019. The aforementioned shares were subject to waiting-list freezing
by the Futian District People ’ s Court of Shenzhen in May 2026. For details, please refer to the
Shenzhen Zhongheng Huafa Co., Ltd. Third Quarter Report 2026
announcements published on Cninfo on October 27, 2016; January 11, 2019; May 31, 2019; August 7, 2019;
March 20, 2026; and May 8, 2026.
Due to a contract dispute with Shenzhen Vanke, 3,189,894 shares held by the controlling shareholder
Wuhan Zhongheng Group have been disposed of in five installments through the JD.com judicial auction
platform. Currently, Wuhan Zhongheng Group holds 116,100,000 shares of the Company. For details, please
refer to the Company ’ s Announcement on the Judicial Disposal of Part of the Shares Held by the
Controlling Shareholder published on September 16, 2026.
IV. Quarterly Financial Statements
(I) Financial Statements
Prepared by: Shenzhen Zhongheng Huafa Co., Ltd.
Unit: RMB
Item Closing Balance Opening Balance
Current Assets:
Cash and Bank Balances 147,670,620.30 196,877,984.92
Settlement Provisions
Lendings to Banks and Other
Financial Institutions
Financial Assets Held for Trading
Purposes
Derivative Financial Assets
Notes Receivable 6,153,899.39 2,165,561.63
Accounts Receivable 205,085,679.21 158,543,132.99
Receivables Financing 135,000.00
Prepayments 21,213,339.01 31,330,124.82
Premiums Receivable
Reinsurance Receivables
Provisions for Reinsurance Contracts
Other Receivables 4,824,891.83 3,475,589.89
Including: Interest Receivable
Dividends Receivable
Financial Assets Purchased under
Resale Agreements
Inventory 76,273,942.87 76,812,310.06
Including: Data Resources
Contract Assets
Assets Held for Sale
Non-current Assets Due within One
Year
Other Current Assets 1,064,396.77 6,273,392.36
Total Current Assets 462,286,769.38 475,613,096.67
Non-current Assets:
Loans and Advances
Debt Investments
Other Debt Investments
Long-term Receivables
Long-term Equity Investments
Investments in Other Equity
Shenzhen Zhongheng Huafa Co., Ltd. Third Quarter Report 2026
Instruments
Other Non-current Financial Assets
Investment Properties 37,772,263.16 39,068,510.86
Fixed Assets 158,289,179.90 160,632,054.04
Construction in Progress
Productive Biological Assets
Oil and Gas Assets
Right-of-use Assets
Intangible Assets 31,111,274.89 32,397,163.65
Including: Data Resources
Development Expenditure
Including: Data Resources
Goodwill
Long-term Deferred Expenses 500,938.00 663,862.63
Deferred Tax Assets 9,882,936.48 9,936,720.48
Other Non-current Assets 1,118,858.50 1,163,640.28
Total Non-current Assets 238,675,450.93 243,861,951.94
Total Assets 700,962,220.31 719,475,048.61
Current Liabilities:
Short-term Borrowings
Borrowings from Central Bank
Borrowings from Banks and Other
Financial Institutions
Financial Liabilities Held for Trading
Purposes
Derivative Financial Liabilities
Notes Payable 52,669,868.93 78,762,931.46
Accounts Payable 122,230,698.91 120,930,767.76
Advances from Customers 1,557,943.91 1,716,702.91
Contract Liabilities
Financial Assets Sold under
Repurchase Agreements
Deposits Received and Interbank
Placements
Agency Securities Trading Funds
Agency Securities Underwriting Funds
Employee Compensation Payable 5,606,672.59 9,604,968.37
Taxes Payable 11,673,258.50 16,942,217.60
Other Payables 43,284,387.01 31,864,180.93
Including: Interest Payable
Dividends Payable
Handling Fees and Commissions
Payable
Reinsurance Payables
Liabilities Held for Sale
Non-current Liabilities Due within
One Year
Other Current Liabilities 8,437,416.33 14,724,338.55
Total Current Liabilities 245,460,246.18 274,546,107.58
Non-current Liabilities:
Insurance Contract Provisions
Long-term Borrowings
Bonds Payable
Including: Preferred Shares
Perpetual Bonds
Lease Liabilities
Shenzhen Zhongheng Huafa Co., Ltd. Third Quarter Report 2026
Long-term Payables
Long-term Employee Compensation
Payable
Provisions 3,803,695.00 4,175,830.00
Deferred Income 1,294,680.00 1,653,240.00
Deferred Tax Liabilities
Other Non-current Liabilities
Total Non-current Liabilities 5,098,375.00 5,829,070.00
Total Liabilities 250,558,621.18 280,375,177.58
Owner's Equity:
Share Capital 283,161,227.00 283,161,227.00
Other Equity Instruments
Including: Preferred Shares
Perpetual Bonds
Capital Reserve 146,577,771.50 146,577,771.50
Less: Treasury Shares
Other Comprehensive Income
Special Reserve
Surplus Reserve 77,391,593.25 77,391,593.25
General Risk Provisions
Undistributed Profit -56,726,992.62 -68,030,720.72
Total Owner's Equity Attributable to
Owners of the Parent
Minority Interests
Total Owner's Equity 450,403,599.13 439,099,871.03
Total Liabilities and Owner's Equity 700,962,220.31 719,475,048.61
Legal Representative: Li Zhongqi Person in Charge of Accounting Work: Cao Li Head of Accounting Department: Li Yan
Unit: RMB
Item Amount Incurred in Current Period Amount Incurred in Previous Period
I. Total Operating Revenue 492,109,077.81 682,950,220.46
Including: Operating Revenue 492,109,077.81 682,950,220.46
Interest Income
Earned Premiums
Handling Fees and
Commissions Income
II. Total Operating Costs 481,461,485.68 661,952,590.78
Including: Operating Costs 442,152,549.96 599,238,313.82
Interest Expense
Handling Fees and
Commissions Expense
Surrender Payments
Net Claims Payments
Net Insurance Liability
Provisions Recognized
Policyholder Dividends
Expense
Reinsurance Expenses
Taxes and Surcharges 2,816,576.12 3,034,448.77
Selling Expenses 4,831,442.75 22,031,245.89
Shenzhen Zhongheng Huafa Co., Ltd. Third Quarter Report 2026
Administrative Expenses 18,594,697.15 26,844,675.09
Research and Development
Expenses
Financial Expenses 2,724,136.89 -898,757.41
Including: Interest Expense -13,864.49 -35.38
Interest Income 2,175,282.20 1,243,736.39
Add: Other Income 450,196.29 4,090,206.03
Investment Income (losses are
listed with a "-" sign)
Including: Investment
Income from Associates and Joint
Ventures
Derecognition Gains
on Financial Assets Measured at
Amortized Cost
Exchange Gains (losses are listed
with a "-" sign)
Net Exposure Hedging Gains
(losses are listed with a "-" sign)
Gains on Changes in Fair Value
(losses are listed with a "-" sign)
Credit Impairment Losses (losses
are listed with a "-" sign)
Asset Impairment Losses (losses
-1,535,341.37 0.00
are listed with a "-" sign)
Gains on Asset Disposal (losses
are listed with a "-" sign)
III. Operating Profit (losses are listed
with a "-" sign)
Add: Non-operating Income 323,383.10 130,095.07
Less: Non-operating Expenses 3,601.68 118,554.55
IV. Total Profit (total losses are listed
with a "-" sign)
Less: Income Tax Expense 3,065,888.69 4,386,953.68
V. Net Profit (net losses are listed with a
"-" sign)
(I) Classified by Continuing
Operations
Operations (net losses are listed with a "-
" sign)
Operations (net losses are listed with a "-
" sign)
(II) Classified by Ownership
Attribution
Shareholders of the Parent (net losses are 11,303,728.10 21,266,931.43
listed with a "-" sign)
Minority Shareholders (net losses are
listed with a "-" sign)
VI. After-tax Net Amount of Other
Shenzhen Zhongheng Huafa Co., Ltd. Third Quarter Report 2026
Comprehensive Income
After-tax Net Amount of Other
Comprehensive Income Attributable to
Owners of the Parent
(I) Other Comprehensive Income
That Cannot Be Reclassified to Profit or
Loss
Defined Benefit Plans
Not Transferable to Profit or Loss under
the Equity Method
Investments in Other Equity Instruments
Enterprise's Own Credit Risk
(II) Other Comprehensive Income
to Be Reclassified to Profit or Loss
Transferable to Profit or Loss under the
Equity Method
Debt Investments
Reclassified into Other Comprehensive
Income
for Other Debt Investments
Statement Translation Differences
After-tax Net Amount of Other
Comprehensive Income Attributable to
Minority Shareholders
VII. Total Comprehensive Income 11,303,728.10 21,266,931.43
(I) Total Comprehensive Income
Attributable to Owners of the Parent
(II) Total Comprehensive Income
Attributable to Minority Shareholders
VIII. Earnings per Share:
(I) Basic Earnings per Share 0.0399 0.0751
(II) Diluted Earnings per Share 0.0399 0.0751
Where a business combination under common control occurred in the current period, the net profit realized by the combinee before
the combination was: RMB, and the net profit realized by the combinee in the previous period was: RMB.
Legal Representative: Li Zhongqi Person in Charge of Accounting Work: Cao Li Head of Accounting Department: Li Yan
Unit: RMB
Item Amount Incurred in Current Period Amount Incurred in Previous Period
I. Cash Flows Generated from Operating
Activities:
Cash Received from Selling Goods
and Providing Services
Shenzhen Zhongheng Huafa Co., Ltd. Third Quarter Report 2026
Net Increase in Customer Deposits and
Interbank Placements
Net Increase in Borrowings from
Central Bank
Net Increase in Borrowings from
Other Financial Institutions
Cash Received from Premiums of
Original Insurance Contracts
Net Cash Received from Reinsurance
Business
Net Increase in Policyholder Deposits
and Investments
Cash Received from Interest, Handling
Fees and Commissions
Net Increase in Borrowings
Net Increase in Funds from
Repurchase Business
Net Cash Received from Agency
Securities Trading
Tax Refunds Received 4,464,156.13 5,963,591.92
Other Cash Received Related to
Operating Activities
Subtotal of Cash Inflows from Operating
Activities
Cash Paid for Purchasing Goods and
Receiving Services
Net Increase in Customer Loans and
Advances
Net Increase in Placements with
Central Bank and Interbank
Cash Paid for Claims of Original
Insurance Contracts
Net Increase in Lendings
Cash Paid for Interest, Handling Fees
and Commissions
Cash Paid for Policyholder Dividends
Cash Paid to and for Employees 39,929,081.69 43,800,591.31
Various Taxes and Fees Paid 10,791,760.38 9,657,292.61
Other Cash Paid Related to Operating
Activities
Subtotal of Cash Outflows from
Operating Activities
Net Cash Flow Generated from
-18,726,002.84 -44,676,025.37
Operating Activities
II. Cash Flows Generated from Investing
Activities:
Cash Received from Recovery of
Investments
Cash Received from Investment
Income
Net Cash Recovered from Disposal of
Fixed Assets, Intangible Assets and 929,206.75 0.00
Other Long-term Assets
Shenzhen Zhongheng Huafa Co., Ltd. Third Quarter Report 2026
Net Cash Received from Disposal of
Subsidiaries and Other Business Units
Other Cash Received Related to
Investing Activities
Subtotal of Cash Inflows from Investing
Activities
Cash Paid for Purchase and
Construction of Fixed Assets, Intangible 2,048,743.50 1,989,091.80
Assets and Other Long-term Assets
Cash Paid for Investments
Net Increase in Pledged Loans
Net Cash Paid for Acquiring
Subsidiaries and Other Business Units
Other Cash Paid Related to Investing
Activities
Subtotal of Cash Outflows from
Investing Activities
Net Cash Flow Generated from Investing
-1,001,829.04 -1,434,582.92
Activities
III. Cash Flows Generated from
Financing Activities:
Cash Received from Absorbing
Investments
Including: Cash Received by
Subsidiaries from Absorbing Minority
Shareholders' Investments
Cash Received from Borrowings
Other Cash Received Related to
Financing Activities
Subtotal of Cash Inflows from Financing
Activities
Cash Paid for Debt Repayment
Cash Paid for Distribution of
Dividends, Profits or Payment of Interest
Including: Dividends and Profits
Paid by Subsidiaries to Minority
Shareholders
Other Cash Paid Related to Financing
Activities
Subtotal of Cash Outflows from
Financing Activities
Net Cash Flow Generated from
Financing Activities
IV. Effect of Exchange Rate Changes on
-3,386,470.21 378,230.51
Cash and Cash Equivalents
V. Net Increase in Cash and Cash
-23,114,302.09 -45,732,377.78
Equivalents
Add: Balance of Cash and Cash
Equivalents at Beginning of Period
VI. Balance of Cash and Cash
Equivalents at End of Period
Shenzhen Zhongheng Huafa Co., Ltd. Third Quarter Report 2026
(II) Adjustment of Related Items in the Financial Statements at the Beginning of the
Year of First Execution Due to First-time Adoption of New Accounting Standards from
□ Applicable Not Applicable
(III) Audit Report
Whether the Q3 financial accounting report has been audited
□ Yes No
The Company's Q3 financial accounting report has not been audited.
Board of Directors of Shenzhen Zhongheng Huafa Co., Ltd.
October 26, 2026
首页
微信公众号
证券之星APP
