新和成:2024年年度报告(英文版)

Zhejiang NHU Co., Ltd.
2024Annual Report
April 2024

Section I Important Notes, Contents, and Definitions
The Board of Directors and its members, Board of Supervisors and its members,
and senior executives of the Company hereby guarantee that the information
presented in this annual report is authentic, accurate, complete and free of false
records, misleading statements or material omissions, and they will bear
individual and joint liabilities for such information.
Hu Baifan, the Company’s legal representative, Shi Guanqun, the officer in
chargeofaccounting,andZhangLijin,theheadofaccountingdepartment hereby
declare that they guarantee the financial statements in this annual report are
authentic, accurate and complete.
Except for the following Directors, the other Directors were present in person at
themeetingoftheBoardofDirectorsatwhichthisAnnualReportwasconsidered.
Name of Directors Position of Reason for not Name of
not present in Directors not attending meetings principal
person present in person in person
Zhou Guiyang Director Official business Shi Guanqun
Independent
Ji Jianyang Official business Shen Yuping
Director
The future plan and other forward-looking information disclosed in this annual
report shall not be regarded as a commitment to investors. We kindly remind
investors of all possible risks in investments.
We draw your attention to item “XI. Outlook for the future development of the
Company” under “Section III Management Discussion and Analysis”, which
explicitly states the possible risks in business operation and countermeasures
thereon.
ProfitdistributionproposaldeliberatedandapprovedbythemeetingoftheBoard
of Directors is as follows: Based on the 3,073,421,680 shares, a cash dividend of
5.00 yuan (tax included)will be distributed to all shareholders forevery 10 shares,
and no bonus shares will be distributed, and the capital reserve will not be
converted into share capital.
If the Company’s total share capital changes due to the conversion of convertible bonds, share
repurchase, exercise of equity incentives, refinancing and listing of new shares, etc. before the
implementation of the profit distribution proposal, the total distribution will be adjusted
accordingly based on the same distribution ratio.
This Annual Report is an English translation of the Chinese Annual Report. In case the English version does not
conform to the Chinese version, the Chinese version prevails.

Contents

Section I Important Notes, Contents, and Definitions......1
Section II Company Profile and Key Financial Indicators......6
Section III Management Discussion andAnalysis ...... 11
Section IV Corporate Governance ......43
Section V Environmental and Social Responsibilities ......61
Section VI Significant Events......69
Section VII Movements in Shares and Conditions of Shareholders ......79
Section VIII Preferred Shares......87
Section IX Bonds......88
Section X Financial Report ......89
DocumentsAvailable for Reference
I. Financial statements signed and sealed by the Company’s legal representative, officer in charge of accounting,
and head of accounting department;
II. The original auditor's report with the seal of the accounting firm and the signature and seal of the certified
public accountants;
III. Originals of all the Company's documents and announcements published in newspapers designated by the
China Securities Regulatory Commission during the reporting period;
IV. Other documents for reference.

Definitions
Abbreviations Refers to Contents of definitions
The Company, NHU Refers to ZHEJIANG NHU CO., LTD.
CSRC Refers to China Securities Regulatory Commission
CSRC, Zhejiang Office Refers to China Securities Regulatory Commission, Zhejiang Office
PPS Refers to Polyphenylene Sulfide
PPA Refers to Poly Phthalamide
VOC Refers to Volatile Organic Compound
HSE Refers to HealthyAnd Safe Environment
CNAS Refers to China National Accreditation Service For ConformityAssessment
DSC Refers to Differential Scanning Calorimetry
ARC Refers to Accelerating Ratecalori Meter
RC1e Refers to Reaction Calorimeter
Pd catalyzer Refers to Palladium Catalyst
IPDA Refers to Isophorone Diamine
NBC Refers to Azabicycles
CLA Refers to Karon anhydride
AM ester Refers to Methyl Met