1新和成发布2026年三季报（英文版）：前三季度营收192.31亿元，同比增15.56%；
2归母净利润58.68亿元，同比增10.28%。
3Q3单季营收61.02亿元，同比增10.12%；
4净利润18.57亿元，同比增8.13%。
5经营性现金流52.28亿元，同比降7.35%。
6在建工程大增124%，显示资本开支加速。
7公司推进股份回购及科技创新债券发行，股东结构稳定。
新 和 成：2026年第三季度报告（英文版）
摘要
文本
Zhejiang NHU Company Ltd.
Q3 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:
- 1. The Board of Directors, directors 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 person in charge of finance and accounting work, and the person in charge of accounting institution (Accounting Officer) hereby declare and warrant that the financial statements in this report are authentic, accurate and complete.
- 3. Whether the Third Quarterly Report has been audited or not
□ Yes √ No
This Third Quarterly Report is an English translation of the Chinese version of the Third Quarterly Report. In case the
English version does not conform to the Chinese version, the Chinese version prevails.
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
| Items | Q3 2026 | YoY Change(%) | Q1-Q3 2026 | YoY Change(%) |
|---|---|---|---|---|
| Operating revenue (yuan) | 6,102,032,952.63 | 10.12% | 19,231,333,213.52 | 15.56% |
| Net profit attributable to shareholders of listed company (yuan) | 1,857,010,823.43 | 8.13% | 5,867,744,277.98 | 10.28% |
| Net profit attributable to shareholders of listed company after deducting non-recurring profit or loss (yuan) | 1,796,578,194.25 | 8.59% | 5,715,514,757.97 | 7.17% |
| Net cash flows from operating activities (yuan) | — | — | 5,227,614,698.17 | -7.35% |
| Basic EPS (yuan/share) | 0.60 | 7.14% | 1.90 | 9.83% |
| Diluted EPS (yuan/share) | 0.60 | 7.14% | 1.90 | 9.83% |
| Weighted average ROE | 5.33% | Decrease 0.12 percentage points | 16.72% | Decrease 0.60 percentage points |
| Items | September 30, 2026 | December 31, 2025 | Change(%) | |
| Total assets (yuan) | 49,258,662,771.37 | 45,606,449,805.48 | 8.01% | |
| Net assets attributable to shareholders of listed company (yuan) | 36,548,803,725.76 | 32,805,654,181.90 | 11.41% |
II. Non-recurring gains and losses for this period
√ Applicable □ Not applicable
Unit: RMB
| Items | Q3 2026 | Q1-Q3 2026 |
|---|---|---|
| Gains or losses on disposal of non-current assets, including write-off of provision for impairment | 3,489,749.05 | -31,816,784.65 |
| Government grants included in profit or loss (excluding those closely related to operating activities of the Company, satisfying | 9,989,575.39 | 47,814,329.64 |
| Items | Q3 2026 | Q1-Q3 2026 |
|---|---|---|
| government policies and regulations, 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-fortrading 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 | 51,782,760.68 | 153,088,793.76 |
| Gains or losses on assets consigned to the third party for investment or management | 6,404,749.61 | 23,007,162.01 |
| Other non-operating revenue or expenditures | -645,427.77 | -8,954,489.16 |
| Less: Enterprise income tax affected | 10,575,259.86 | 30,717,417.11 |
| Non-controlling interest affected (after tax) | 13,517.92 | 192,074.48 |
| Total | 60,432,629.18 | 152,229,520.01 |
Remarks on other profit or loss satisfying the definition of non-recurring profit or loss:
- □ Applicable √ Not Applicable The Company has no other profit or loss satisfying the definition of non-recurring profit or loss.
Remarks on defining non-recurring profit or loss listed in the “Interpretation Pronouncement on Information Disclosure Criteria for Public Companies No. 1 – Non-Recurring Profit or Loss” as recurring profit or loss.
- □ Applicable √ Not Applicable The Company has no situation of defining non-recurring profit or loss listed in the “Interpretation Pronouncement on Information Disclosure Criteria for Public Companies No. 1 – Non-Recurring Profit or Loss” as recurring profit or loss.
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.Balance Sheet Position
- (1) The closing balance of Held-for-trading financial assets increased by 37.91% compared to the opening balance in this year. It
was mainly due to the increase in the purchase of bank financial products during the reporting period.
- (2) The closing balance of Receivables financing decreased by 45.49% compared to the opening balance in this year. It was mainly
due to the decrease in bank acceptance bills held by the Company during the reporting period.
- (3) The closing balance of Prepayments increased by 111.92% compared to the opening balance in this year. It was mainly due to
the increase in prepayments for raw materials.
- (4) The closing balance of Other current assets increased by 143.08% compared to the opening balance in this year. It was mainly
due to the increase in value-added tax to be deducted during the reporting period.
- (5) The closing balance of Other equity instrument investment decreased by 56.18% compared to the opening balance in this year.
It was mainly due to the combined impact of the decline in the valuation of the investment portfolio held by the invested company
from the beginning of the year to the reporting period and dividends received from such investment during the reporting period.
- (6) The closing balance of Construction in progress increased by 124.16% compared to the opening balance in this year. It was
mainly due to the increase in capital expenditure on construction in progress during the reporting period.
- (7) The closing balance of Intangible assets increased by 39.08% compared to the opening balance in this year. It was mainly due
to the increase in purchases of land use rights during the reporting period.
- (8) The closing balance of Deferred tax assets increased by 89.65% compared to the opening balance in this year. It was mainly
due to the increase in deferred income tax recognised as a result of higher credit impairment losses during the reporting period.
- (9) The closing balance of Short-term borrowings increased by 56.32% compared to the opening balance in this year. It was
mainly due to the increase in short-term credit borrowings during the reporting period.
- (10) The closing balance of Held-for-trading financial liabilities increased by 100.00% compared to the opening balance in this
year. It was mainly due to the fair value changes of forward financial products held and the fair value changes of the undelivered
portion of raw material futures during the reporting period.
- (11) The closing balance of Other payables decreased by 37.29% compared to the opening balance in this year.It was mainly due
to the reduction in accrued expenses payable during the reporting period.
- (12) The closing balance of Non-current liabilities due within one year decreased by 30.35% compared to the opening balance in
this year. It was mainly due to repayment of long-term loans maturing within one year during the reporting period.
- (13) The closing balance of Other current liabilities increased by 468.65% compared to the opening balance in this year. It was
mainly due to the issuance of the first tranche of science and technology innovation bonds during the reporting period.
- (14) The closing balance of Bonds payable increased by 100.00% compared to the opening balance in this year. It was mainly due
to the issuance of 3-year science and technology innovation bonds during the reporting period.
- (15) The closing balance of Lease liabilities increased by 83.33% compared to the opening balance in this year. It was mainly due
to the increase in lease payables during the reporting period.
- (16) The closing balance of Treasury stock decreased by 51.37% compared to the opening balance in this year. It was mainly due
to the transfer of treasury stock by the Company to the employee share ownership plan during the reporting period.
2. Income Statement Position
- (1) Financial expenses in the current Q1-Q3 period increased by 423.43% compared to the same period of last year. It was mainly
due to the increase in foreign exchange losses in the current Q1-Q3 period.
- (2) Investment income in the current Q1-Q3 period increased by 271.05% compared to the same period of last year. It was mainly
due to the combined effect of the increase in net profits of associates and joint ventures from the beginning of the year to the
reporting period, the corresponding increase in investment income recognised by the Company under the equity method, and the
increase in investment income obtained from the disposal of trading financial assets in the current Q1-Q3 period.
- (3) Gains on changes in fair value in the current Q1-Q3 period increased by 225.28% compared to the same period of last year. It
was mainly due to the increase in fair value of forward foreign exchange settlement and sale products resulting from exchange rate
fluctuations in the current Q1-Q3 period.
- (4) Credit impairment losses in the current Q1-Q3 period increased by 313.99% compared to the same period of last year. It was
mainly due to the increase in credit impairment losses recognised due to changes in accounts receivable arising from higher sales
volume in the current Q1-Q3 period.
- (5) Asset impairment losses in the current Q1-Q3 period decreased by 42.89% compared to the same period of last year. It was
mainly due to the decrease in inventory impairment provisions recognised in the current Q1-Q3 period.
- (6) Gains from asset disposal in the current Q1-Q3 period increased 393.65% compared to the same period of last year. It was
mainly due to the increase in disposals of fixed assets in the current Q1-Q3 period.
- (7) Non-operating expenditures in the current Q1-Q3 period increased by 374.17% compared to the same period of last year. It
was mainly due to the combined effect of the increase in asset scrapping losses and the increase in external donations in the current
Q1-Q3 period.
3. Cash Flow Statement Position
- (1) Net cash flows from investing activities in the current Q1-Q3 period decreased by 47.77% compared to the same period of last
year. It was mainly due to the increase in payments for equipment and purchases of bank financial products in the current Q1-Q3
period.
- (2) Net Increase in Cash and Cash Equivalents in the current Q1-Q3 period decreased by 48.90% compared to the same period of
last year. It was mainly due to the combined impact of changes in operating activities and investing activities in the current Q1-Q3
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 common shareholders at the end of the reporting period | 95,256 | 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 | Number of Shares Held | Number of Restricted Shares Held | Shares pledged, marked or frozen | |
| Condition | Quantity | |||||
| NHU Holding Group Co., Ltd. | Domestic non-stateowned legal person | 50.08% | 1,539,232,431 | 0 | N/A | 0 |
| Hong Kong Securities Clearing Company Limited | Overseas legal person | 5.04% | 154,781,614 | 0 | N/A | 0 |
| National Social Security Fund 503 Portfolio | Others | 0.74% | 22,600,000 | 0 | N/A | 0 |
| Zhejiang NHU Co., Ltd. – Fifth<br><br>Employee Stock Ownership Plan | Others | 0.70% | 21,454,310 | 0 | N/A | 0 |
| China Construction Bank Corporation – E Fund CSI 300 Pharmaceutical Healthcare Exchange Traded Fund | Others | 0.64% | 19,661,511 | 0 | N/A | 0 |
| China Foreign Economy and Trade Trust Co., Ltd. – FOTIC – Chongyang Xiyue Collective Fund Trust Plan | Others | 0.61% | 18,657,799 | 0 | N/A | 0 |
| Hu Baishan | Domestic natural person | 0.47% | 14,595,929 | 10,946,947 | N/A | 0 |
| Hu Baifan | Domestic natural person | 0.45% | 13,922,998 | 10,442,248 | N/A | 0 |
| National Social Security Fund 117 Portfolio | Others | 0.42% | 12,928,361 | 0 | N/A | 0 |
| China Universal Fund Management Co., Ltd. – Social Security Fund Portfolio 16032 | Others | 0.42% | 12,773,892 | 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 and quantity 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 | 154,781,614 | RMB ordinary shares | 154,781,614 |
| National Social Security Fund 503 Portfolio | 22,600,000 | RMB ordinary shares | 22,600,000 |
| Zhejiang NHU Co., Ltd. – Fifth Employee Stock Ownership Plan | 21,454,310 | RMB ordinary shares | 21,454,310 |
| China Construction Bank Corporation – E Fund CSI 300 Pharmaceutical Healthcare Exchange Traded Fund | 19,661,511 | RMB ordinary shares | 19,661,511 |
| China Foreign Economy and Trade Trust Co., Ltd. – FOTIC – Chongyang Xiyue Collective Fund Trust Plan | 18,657,799 | RMB ordinary shares | 18,657,799 |
| National Social Security Fund 117 Portfolio | 12,928,361 | RMB ordinary shares | 12,928,361 |
| China Universal Fund Management Co., Ltd. – Social Security Fund Portfolio 16032 | 12,773,892 | RMB ordinary shares | 12,773,892 |
| Industrial and Commercial Bank of China Limited – China Universal Value Select Mixed Securities Investment Fund | 11,768,400 | RMB ordinary shares | 11,768,400 |
| Yu Baomu | 11,503,200 | RMB ordinary shares | 11,503,200 |
| Explanation on associated relationship or concerted actions among above shareholders | Among the above shareholders, Hu Baifan is the chairman, general manager and actual controller of Zhejiang NHU Holding Group Co., Ltd.; Hu Baishan is a director of Zhejiang NHU Holding Group Co., Ltd.; Hu Baifan and Hu Baishan are brothers. Hu Baifan and Hu Baishan have an affiliated relationship with Zhejiang NHU Co., Ltd. – Fifth Employee Stock Ownership Plan due to their participation in the employee stock ownership plan. The Company is not aware of whether any related-party relationship exists among the other shareholders or whether they are persons acting in concert as stipulated in the Measures for the “Administration of the Takeover of Listed Companies Procedures”. | ||
| Explanation on top 10 shareholders’ participating in securities margin trading | Yu Baomu holds 11,287,400 shares through the customer credit transaction collateral securities account of Guotai Haitong 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 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
1.Progress of Share Repurchase
At the 20th meeting of the 9th Board of Directors held on June 23, 2026, the Company deliberated and adopted the Proposal on the Share Repurchase Plan. The Company approved the repurchase of part of its public shares via centralized bidding trading using self-owned funds, for the implementation of an equity incentive plan or an employee stock ownership plan. The total repurchase amount ranges from RMB 300 million to RMB 600 million, with the repurchase price not exceeding RMB 45.50 per share. The exact number of repurchased shares and its proportion to the total share capital shall be subject to the actual repurchase volume as of the expiry of the repurchase period. For details, please refer to the Announcement on the Share Repurchase Plan (2026-027) published by the Company on designated media for information disclosure and CNINFO (http://www.cninfo.com.cn).
- As of September 30, 2026, the Company had repurchased 7,136,014 shares via centralized bidding through its special securities account for share repurchase, accounting for 0.2322% of the Company's total share capital. The repurchase was executed at a highest price of RMB 29.97 per share and a lowest price of RMB 25.24 per share, with an aggregate transaction value of RMB 199,490,835.70 (excluding transaction fees). This repurchase complies with the Company's adopted repurchase plan and applicable laws and regulations. For details, please refer to the Announcement on the Progress of the Share Repurchase (2026-040) published on designated media for information disclosure and CNINFO (http://www.cninfo.com.cn).
- 2026 Interim Profit Distribution
- At the 21st meeting of the 9th Board of Directors held on August 18, 2026, the Company deliberated and adopted the 2026 Interim Profit Distribution Proposal. The distribution plan for the first half of 2026 is as follows: tentatively on the basis of 3,068,717,398 shares (i.e. the total share capital of 3,073,421,680 shares as of July 31, 2026 minus 4,704,282 repurchased shares) [Note], the Company will distribute a cash dividend of RMB 2.00 per 10 shares (tax inclusive) to all shareholders, with no bonus shares (stock dividends, tax inclusive) to be issued and no conversion of capital surplus into share capital. The total proposed cash distribution amounts to RMB 613,743,479.60, and the remaining profit available for distribution to shareholders shall be carried forward to the next year. Note: As of July 31, 2026, the Company's total share capital stood at 3,073,421,680 shares, of which 4,704,282 shares were held in the special repurchase securities account. Pursuant to the Rules on Share Repurchase by Listed Companies, shares held in a listed company's special repurchase account are not entitled to profit distributions or conversion of capital surplus into share capital. If the Company's total share capital changes prior to the implementation of the distribution plan due to convertible bond conversion, share repurchase, exercise of equity incentive rights, listing of new shares from refinancing or other circumstances, the aggregate distribution amount shall be adjusted accordingly in accordance with the principle of maintaining the distribution ratio unchanged. The 2026 interim profit distribution proposal shall take effect only upon deliberation and approval by the general meeting of shareholders, and remains subject to uncertainties. Investors are hereby reminded to be aware of investment risks. For details, please refer to the Announcement on the Implementation of the 2026 Interim Equity Distribution (2026-037) published on designated media for information disclosure and CNINFO (http://www.cninfo.com.cn).
3. Application for Registration of Debt Financing Instruments
The Proposal on Applying for Registration and Issuance of Debt Financing Instruments was deliberated and adopted at the 14th meeting of the 9th Board of Directors held on August 26, 2025, and the 2nd Extraordinary General Meeting of Shareholders for
- 2025 held on September 12, 2025. To satisfy the capital needs of the Company's rapid development, optimize its financing structure and reduce financing costs, the Company intends to apply to the National Association of Financial Market Institutional Investors (NAFMII) for registration of debt financing instruments for non-financial enterprises with a total issuance size not exceeding RMB 3 billion (inclusive). The instruments may include Medium-term Notes (MTNs, tenor of no more than 3 years), Short-term Commercial Papers (CPs, tenor of no more than 1 year) and Super Short-term Commercial Papers (SCPs, tenor of no more than 270 days), and may be issued in tranches. The proceeds from the issuance are planned to be used for the Company's production and operation activities, including but not limited to project construction in sci-tech innovation, R&D investment, repayment of interest-bearing liabilities and supplementation of working capital. During the reporting period, in light of the fund utilization plan and the inter-bank market conditions, the Company issued two tranches of Sci-Tech Innovation Bonds on the national inter-bank bond market. Details are as follows:
- 2026 First Tranche Sci-Tech Innovation Bond: Issuance completed on January 30, 2026 and listed for trading on February 3, 2026; issuance size of RMB 500 million with a tenor of 270 days. For details, please refer to the Announcement on Issuance Results of the 2026 First Tranche Sci-Tech Innovation Bond (2026-004) disclosed on designated media for information disclosure and CNINFO (http://www.cninfo.com.cn). 2026 Second Tranche Sci-Tech Innovation Bond: Issuance completed on August 31, 2026 and listed for trading on September 2, 2026; issuance size of RMB 1 billion with a tenor of 3 years. For details, please refer to the Announcement on Issuance Results of the 2026 Second Tranche Sci-Tech Innovation Bond (2026-039) disclosed on designated media for information disclosure and CNINFO (http://www.cninfo.com.cn).
Section Ⅳ Quarterly Financial Statements
Ⅰ .Financial statements
- 1. Consolidated balance sheet Prepared by Zhejiang NHU Co., Ltd.
September 30, 2026
Unit: RMB Yuan
| Items | September 30, 2026 | January 1, 2026 |
|---|---|---|
| Current assets: | ||
| Cash and bank balances | 8,885,013,764.16 | 7,966,270,131.17 |
| Deposit reservation for balance | ||
| Lending to banks and other financial institutions | ||
| Trading Financial Assets | 2,990,349,455.46 | 2,168,275,092.55 |
| Derivative financial assets | ||
| Notes receivable | ||
| Accounts receivable | 3,847,450,534.41 | 3,331,434,677.27 |
| Receivables financing | 443,200,964.35 | 813,062,385.73 |
| Prepayments | 378,173,770.75 | 178,450,145.87 |
| Insurance premium receivable | ||
| Reinsurance accounts receivable | ||
| Reserves for reinsurance contract receivable | ||
| Other receivables | 264,120,302.68 | 274,052,669.41 |
| Including: Interest receivable | ||
| Dividends receivable | ||
| Financial assets purchased under resale agreement | ||
| Inventories | 5,585,033,824.69 | 4,648,749,467.43 |
| Among them: data resources | ||
| Contracted assets | ||
| Assets held for sale |
| Items | September 30, 2026 | January 1, 2026 |
|---|---|---|
| Non-current assets due within one year | ||
| Other current assets | 133,785,487.37 | 55,037,719.63 |
| Total current assets | 22,527,128,103.87 | 19,435,332,289.06 |
| Non-current assets: | ||
| Granting of loans and advances | ||
| Debt investments | ||
| Other debt investments | ||
| Long-term receivables | ||
| Long-term equity investments | 1,218,710,396.62 | 965,350,549.43 |
| Other equity instrument investment | 26,344,805.15 | 60,126,147.55 |
| Other non-current financial assets | ||
| Investment property | ||
| Fixed assets | 19,046,877,582.56 | 20,298,898,673.14 |
| Construction in progress | 1,670,233,823.64 | 745,117,350.86 |
| Productive biological assets | ||
| Oil and gas assets | ||
| Right-of-use assets | 10,606,184.21 | 9,116,717.87 |
| Intangible assets | 3,602,301,313.94 | 2,590,073,891.40 |
| Among them: data resources | ||
| Development expenditure | ||
| Among them: data resources | ||
| Goodwill | 3,622,704.97 | 3,622,704.97 |
| Long-term deferred expenses | 15,953,060.54 | 19,477,100.43 |
| Deferred tax assets | 5,106,276.64 | 2,692,450.99 |
| Other non-current assets | 1,131,778,519.23 | 1,476,641,929.78 |
| Total non-current assets | 26,731,534,667.50 | 26,171,117,516.42 |
| Items | September 30, 2026 | January 1, 2026 |
|---|---|---|
| Assets in total | 49,258,662,771.37 | 45,606,449,805.48 |
| Current liabilities: | ||
| Short-term borrowings | 1,055,422,114.75 | 675,172,682.37 |
| Borrowings from the central bank | ||
| Borrowing from banks and financial institutions | ||
| Financial liabilities held for trading | 637,459.50 | |
| Derivative financial liabilities | ||
| Notes payable | 74,766,169.93 | 70,054,101.63 |
| Accounts payable | 2,134,280,848.32 | 1,780,307,765.08 |
| Advance receipts | ||
| Contract liabilities | 293,011,641.03 | 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 compensation payable | 397,062,402.05 | 511,515,144.15 |
| Taxes and fees payable | 504,921,885.58 | 669,468,878.66 |
| Other payables | 82,581,096.38 | 131,685,145.99 |
| Including: Interests payable | ||
| Dividends payable | ||
| Charges and commissions payable | ||
| Reinsurance accounts payable | ||
| Liabilities held for sale | ||
| Non-current liabilities due within one year | 2,204,802,704.28 | 3,165,413,873.49 |
| Other current liabilities | 565,002,997.46 | 99,358,351.24 |
| Items | September 30, 2026 | January 1, 2026 |
|---|---|---|
| Total current liabilities | 7,312,489,319.28 | 7,397,795,032.81 |
| Non-current liabilities: | ||
| Provision for insurance contracts | ||
| Long-term borrowings | 3,273,702,280.70 | 4,187,178,569.02 |
| Bonds payable | 1,000,000,000.00 | |
| Including: Preferred stocks | ||
| Perpetual bonds | ||
| Lease liabilities | 4,583,502.02 | 2,500,183.66 |
| Long-term accounts payable | ||
| Long-term payroll payable | ||
| Estimated liabilities | ||
| Deferred income | 814,667,320.29 | 906,007,748.59 |
| Deferred income tax liabilities | 142,905,732.28 | 152,052,864.16 |
| Other non-current liabilities | ||
| Total non-current liabilities | 5,235,858,835.29 | 5,247,739,365.43 |
| Liabilities in total | 12,548,348,154.57 | 12,645,534,398.24 |
| Owner’s equity: | ||
| Share capital | 3,073,421,680.00 | 3,073,421,680.00 |
| Other equity instruments | ||
| Including: Preferred stocks | ||
| Perpetual bonds | ||
| Capital reserve | 3,170,620,914.25 | 3,135,683,253.49 |
| Less: Treasury stock | 270,476,110.47 | 556,161,195.70 |
| Other comprehensive income | 54,159,441.86 | 67,743,496.72 |
| Special reserves | 186,649,666.73 | 162,056,373.58 |
| Surplus reserves | 1,545,453,678.00 | 1,545,453,678.00 |
| Items | September 30, 2026 | January 1, 2026 |
|---|---|---|
| General risk reserve | ||
| Undistributed profits | 28,788,974,455.39 | 25,377,456,895.81 |
| Total owners’ equity attributed to parent company | 36,548,803,725.76 | 32,805,654,181.90 |
| Minority shareholders’ equity | 161,510,891.04 | 155,261,225.34 |
| Total owner's equity | 36,710,314,616.80 | 32,960,915,407.24 |
| Total liabilities and owners' equity | 49,258,662,771.37 | 45,606,449,805.48 |
Legal Representative: Hu Baifan Chief Accountant in Charge: Shi Guanqun Chief of Accounting Institution: Wang Xiaobi
2. Consolidated income statement for Q1-Q3 Unit: RMB Yuan
| Items | Q1~Q3 2026 | Q1~Q3 2025 |
|---|---|---|
| I. Total operating income | 19,231,333,213.52 | 16,642,101,764.92 |
| Including: Operating revenue | 19,231,333,213.52 | 16,642,101,764.92 |
| Interest income | ||
| Earned premiums | ||
| Service charge and commission income | ||
| II. Total Operating Cost | 12,831,311,343.59 | 10,521,382,709.20 |
| Including: Operating cost | 10,711,869,441.51 | 9,061,993,897.74 |
| Interest expenses | ||
| Handling charge and commission expenses | ||
| Surrender value | ||
| Net claims paid | ||
| Net Amount of Withdrawn Reserve for Insurance Liability Contract | ||
| Policyholder Dividend Expense | ||
| Reinsurance cost | ||
| Taxes and surcharges | 220,521,548.20 | 196,595,837.25 |
| Items | Q1~Q3 2026 | Q1~Q3 2025 |
|---|---|---|
| Selling expenses | 135,338,978.21 | 125,918,576.73 |
| Administrative expenses | 464,249,234.41 | 460,721,586.78 |
| R&D expenses | 903,719,945.87 | 798,468,927.21 |
| Financial expenses | 395,612,195.39 | -122,316,116.51 |
| Including: Interest expenses | 111,234,079.49 | 161,299,501.81 |
| Interest income | 46,701,375.05 | 56,852,548.36 |
| Add: Other income | 169,206,057.94 | 184,244,312.75 |
| Investment income (“-” for loss) | 285,168,511.75 | 76,855,004.79 |
| Including: Income from investment in associates and joint ventures | 219,431,638.44 | 61,001,722.50 |
| Income recognized at the termination of financial assets measured at amortized cost | ||
| Exchange gains (“－” for loss) | ||
| Net-exposure hedging income (“” for loss) | ||
| Incomes from changes in fair value (“-” for loss) | 110,674,615.82 | -88,344,579.28 |
| Credit impairment losses (“-” for loss) | -42,074,280.17 | 19,661,569.24 |
| Asset impairment losses (“-” for loss) | -33,923,192.36 | -59,395,217.60 |
| Gains from asset disposal ("-" for loss) | 4,978,850.87 | -1,695,485.83 |
| III. Operating Profit ("-" for loss) | 6,894,052,433.78 | 6,252,044,659.79 |
| Add: Non-operating income | 3,141,883.58 | 2,528,959.80 |
| Less: Non-operating expenses | 48,892,008.26 | 10,311,169.44 |
| IV. Total Profit Before Tax (“-” for total losses) | 6,848,302,309.10 | 6,244,262,450.15 |
| Less: Income tax expense | 952,725,228.70 | 890,058,372.03 |
| V. Net Profit (“-” for net loss) | 5,895,577,080.40 | 5,354,204,078.12 |
| (I) Classification by business continuity | ||
| 1. Net profit from continuing operations (“-” for net loss) | 5,895,577,080.40 | 5,354,204,078.12 |
| Items | Q1~Q3 2026 | Q1~Q3 2025 |
|---|---|---|
| 2. Net profit from discontinued operations (“-” for net loss) | ||
| (II) Classification by ownership | ||
| 1. Net profit attributable to shareholders of the parent company | 5,867,744,277.98 | 5,320,721,690.71 |
| 2. Profit or loss of minority shareholders | 27,832,802.42 | 33,482,387.41 |
| VI. Net Amount after Tax of Other Comprehensive Income | -35,167,191.58 | -21,830,736.97 |
| Net amount of other comprehensive income after tax attributed to the owners of parent company | -13,584,054.86 | -21,411,276.06 |
| (I) Other comprehensive income that cannot be reclassified into profit or loss | -12,734,141.04 | |
| 1. Amount of changes in the defined benefit plan due to remeasurement | ||
| 2. Other comprehensive income that can not be converted into profits and losses under the equity method | ||
| 3. Changes in the fair value of investment in other equity instruments | -12,734,141.04 | |
| 4. Changes in the fair value of the enterprise's own credit risk | ||
| 5. Other | ||
| (II) Other comprehensive income that will be reclassified into profit or loss | -849,913.82 | -21,411,276.06 |
| 1. Other comprehensive income that can be converted to profit or loss under the equity method | ||
| 2. Change in fair value for other investments on bonds | ||
| 3. Amount of financial assets reclassified into other comprehensive income | ||
| 4. Provisions for the credit impairment of investment in other creditor's rights | ||
| 5. Cash flow hedge reserve | ||
| 6. Difference of foreign currency financial statement translation | -849,913.82 | -21,411,276.06 |
| 7. Other | ||
| Net amount of other comprehensive income after tax attributed to minority shareholders | -21,583,136.72 | -419,460.91 |
| VII. Total Comprehensive Income | 5,860,409,888.82 | 5,332,373,341.15 |
| Items | Q1~Q3 2026 | Q1~Q3 2025 |
|---|---|---|
| Total comprehensive income attributable to owners of the parent company | 5,854,160,223.12 | 5,299,310,414.65 |
| Total comprehensive income attributable to minority shareholders | 6,249,665.70 | 33,062,926.50 |
| VIII. Earnings per Share | ||
| (I) Basic earnings per share | 1.90 | 1.73 |
| (II) Diluted earnings per share | 1.90 | 1.73 |
Legal Representative: Hu Baifan Chief Accountant in Charge: Shi Guanqun Chief of Accounting Institution: Wang Xiaobi
3. Consolidated Cash Flow Statement for Q1~Q3 Unit: RMB Yuan
| Items | Q1~Q3 2026 | Q1~Q3 2025 |
|---|---|---|
| I. Cash flows generated from operating activities: | ||
| Cash received from the sale of commodities and rendering of labor services | 17,875,664,762.69 | 16,507,712,441.00 |
| Net increase in deposit from customers and interbank | ||
| Net increase in borrowing from central bank | ||
| Net increase in borrowings from other financial institutions | ||
| Cash receipts from premiums under direct insurance contracts | ||
| Net Amount Arising from Reinsurance Business | ||
| Net Increase in Deposits and Investments from Policyholders | ||
| Cash Arising from Interests, Service Charges and Commissions | ||
| Net Increase in Borrowings from Banks and Other Financial Institutions | ||
| Net increase in repurchase business capital | ||
| Net Amount of Cash Received from the Vicariously Traded Securities | ||
| Tax Refund | 634,756,586.63 | 634,061,312.52 |
| Cash received relating to other operating activities | 147,239,454.60 | 139,317,800.55 |
| Subtotal of cash inflows from operating activities | 18,657,660,803.92 | 17,281,091,554.07 |
| Cash payments for goods acquired and | 9,227,572,759.43 | 7,702,336,645.29 |
| Items | Q1~Q3 2026 | Q1~Q3 2025 |
|---|---|---|
| services received | ||
| Net increase in customer loans and advances | ||
| Net increase in deposits in central bank and interbank | ||
| Cash payments for original insurance contract claims | ||
| Net increase in lending funds from banks and other financial institutions | ||
| Cash payments for interest, fee, and commission | ||
| Cash payments for insurance policyholder dividends | ||
| Cash paid to and on behalf of employees | 1,832,146,129.34 | 1,712,309,479.25 |
| Cash payments for taxes | 2,065,560,329.77 | 1,753,724,774.08 |
| Other cash payments relating to operating activities | 304,766,887.21 | 470,531,736.20 |
| Subtotal of cash outflows from operating activities | 13,430,046,105.75 | 11,638,902,634.82 |
| Net cash flows from operating activities | 5,227,614,698.17 | 5,642,188,919.25 |
| II. Cash Flows from Investing Activities: | ||
| Cash receipts from investment withdrawal | 1,708,000.00 | |
| Cash receipts from returns on investments | 90,848,310.67 | 51,459,962.72 |
| Net cash receipts from disposals of fixed assets, intangible assets and other long-term assets | 2,623.89 | 216,700.00 |
| Net cash received from disposal of subsidiaries and other business units | ||
| Other cash receipts relating to investing activities | 2,451,950,000.00 | 2,150,000,000.00 |
| Subtotal of cash inflows from investing activities | 2,542,800,934.56 | 2,203,384,662.72 |
| Cash Paid for the Purchase and Construction of Fixed Assets, Intangible Assets, and Other Long-term Assets | 1,987,284,066.24 | 1,455,104,482.79 |
| Cash payments for investment | ||
| Net increase in pledged loans | ||
| Net Cash Paid for Acquisition of Subsidiaries and Other Business Units | ||
| Other Paid Cashes Related to Investment Activities | 2,960,000,000.00 | 2,375,450,000.00 |
| Subtotal of cash outflows from investing activities | 4,947,284,066.24 | 3,830,554,482.79 |
| Items | Q1~Q3 2026 | Q1~Q3 2025 |
|---|---|---|
| Net cash flows from investing activities | -2,404,483,131.68 | -1,627,169,820.07 |
| III. Cash Flows from Financing Activities: | ||
| Cash received from capital contributions | ||
| Including: Cash received from investment of minority shareholder from subsidiary | ||
| Cash received from borrowings | 4,226,715,478.41 | 2,257,904,273.76 |
| Other cash receipts relating to financing activities | 518,979,758.90 | |
| Subtotal of cash inflows from financing activities | 4,745,695,237.31 | 2,257,904,273.76 |
| Cash repayments of amounts borrowed | 3,821,545,753.86 | 1,755,560,300.27 |
| Cash payments for distribution of dividends, profits, or cash payments for interest expenses | 2,584,919,216.63 | 2,323,096,742.28 |
| Including: Dividends and profits paid to minority shareholders by subsidiaries | ||
| Other cash paid related to financing activities | 200,245,822.01 | 321,956,171.67 |
| Subtotal of cash outflows from financing activities | 6,606,710,792.50 | 4,400,613,214.22 |
| Net cash flows from financing activities | -1,861,015,555.19 | -2,142,708,940.46 |
| IV. Effect of foreign exchange rate changes on cash and cash equivalents | 10,629,734.85 | 31,133,576.05 |
| V. Net Increase in Cash and Cash Equivalents | 972,745,746.15 | 1,903,443,734.77 |
| Add: Beginning balance of cash and cash equivalents | 7,819,707,489.01 | 5,521,452,666.47 |
| VI. Closing Balance of Cash and Cash Equivalents | 8,792,453,235.16 | 7,424,896,401.24 |
Legal Representative: Hu Baifan Chief Accountant in Charge: Shi Guanqun Chief of Accounting Institution: 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 financial statements above have been audited by an independent auditor.
□Yes √ No These financial statements have not been audited by such an auditor.
Board of Directors of Zhejiang NHU Company Ltd. October 28, 2026
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