Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
FOSHAN ELECTRICAL AND LIGHTING CO., LTD.
FIRST QUARTER REPORT 2017
April 2017
1
Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
Section I Important Statements
The board of directors (the “Board”), the supervisory board (the “Supervisory Board”), as
well as the directors, supervisors and senior executive officers of Foshan Electrical and
Lighting Co., Ltd. (the “Company”) hereby guarantee the factuality, accuracy and
completeness of the contents of this Report, and shall be jointly and severally liable for any
false representation, misleading statements or material omissions in this Report.
All directors attended the board meeting for the review of this Report.
He Yong, head of the Company, Liu Xingming, accounting head for this Report, and Tang
Qionglan, head of the accounting department (head of accounting), hereby guarantee that the
financial statements carried in this Report are factual, accurate and complete.
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Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
Section II Key Financial Results and Shareholders’ Profile
I Key financial results
Indicate by tick mark whether the Company retroactively restated any of its accounting data due to changes of
accounting policies or correction of accounting errors.
□ Yes √ No
January-March 2017 January-March 2016 +/-%
Operating revenues (RMB) 1,093,649,938.81 904,310,757.83 20.94%
Net profit attributable to
119,874,574.94 107,776,865.30 11.22%
shareholders of the Company (RMB)
Net profit attributable to
shareholders of the Company before 119,491,016.83 107,348,727.74 11.31%
exceptional profit and loss (RMB)
Net cash flows from operating
-50,923,130.47 186,104,091.50 -127.36%
activities (RMB)
Basic earnings per share
0.0942 0.0847 11.22%
(RMB/share)
Diluted earnings per share
0.0942 0.0847 11.22%
(RMB/share)
Weighted average return on equity
2.36% 2.12% 0.24%
(%)
March 31, 2017 December 31, 2016 +/-%
Total assets (RMB) 6,239,727,776.53 6,100,169,400.30 2.29%
Net assets attributable to
5,188,960,827.09 4,990,466,577.12 3.98%
shareholders of the Company (RMB)
Exceptional profit/loss
√ Applicable □ Not applicable
Unit: RMB
Item January-March 2017 Note
Profit/loss on disposal of non-current assets (including
-749,629.80
offset asset impairment provisions)
Government subsidies charged to the profit/loss for this
Reporting Period (except for the government grants
closely related to the business of the Company and 546,259.98
given at a fixed quota or amount in accordance with the
State’s uniform standards)
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Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
Non-operating income and expense other than the above 639,662.92
Less: Corporate income tax 53,451.07
Minority interests (after tax) -716.08
Total 383,558.11 --
Explanation of why the Company classified an item as exceptional profit/loss according to the definition in the
Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Exceptional Profit and Loss, or reclassified any exceptional profit/loss item given as an example in the
said explanatory announcement to recurrent profit/loss
□ Applicable √ Not applicable
No such cases in this Reporting Period.
II Total number of shareholders at the period-end and their shareholdings
1. Numbers of common shareholders and preference shareholders with resumed voting rights, as well as
shareholdings of top ten shareholders
Unit: share
Total number of preference
Total number of common shareholders with resumed
90,510 0
shareholders at the period-end voting rights at the period-end
(if any)
Top ten shareholders
Number of Pledged or frozen shares
Name of Nature of Shareholding Total shares held
restricted shares
shareholder shareholder percentage (%) at the period-end Status Number
held
Hong Kong Wah
Shing Holding Foreign
13.47% 171,360,391 Pledged 83,966,592
Company corporation
Limited
Prosperity Lamps
Foreign
& Components 10.50% 133,577,143
corporation
Limited
Shenzhen Rising
Investment State-owned
5.12% 65,178,305
Development corporation
Co., Ltd.
Guangdong
Electronics
State-owned
Information 4.74% 60,357,728 Pledged 29,575,287
corporation
Industry Group
Ltd.
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Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
Central Huijin
Asset State-owned
2.42% 30,799,000
Management Co., corporation
Ltd.
Yunan
International
Trust Co.,
Other 1.91% 24,308,990
Ltd.-Heshun No.
6 Assembled
Funds Trust Plan
Essence
International Foreign
1.91% 24,266,429
Securities (Hong corporation
Kong) Co., Ltd.
DBS Vickers
Foreign
(Hong Kong) Ltd 1.86% 23,645,755
corporation
A/C Clients
Hong Kong
Rising
Foreign
Investment 1.82% 23,165,684
corporation
Development
Co., Ltd.
Foreign
Zhuang Jianyi 0.85% 10,821,372 8,116,029
individual
Top ten non-restricted shareholders
Type of shares
Name of shareholder Number of non-restricted shares held at the period-end
Type Number
Hong Kong Wah Shing Holding RMB common
171,360,391 171,360,391
Company Limited share
Prosperity Lamps & Components RMB common
133,577,143 133,577,143
Limited share
Shenzhen Rising Investment RMB common
65,178,305 65,178,305
Development Co., Ltd. share
Guangdong Electronics Information RMB common
60,357,728 60,357,728
Industry Group Ltd. share
Central Huijin Asset Management RMB common
30,799,000 30,799,000
Co., Ltd. share
Yunan International Trust Co., RMB common
24,308,990 24,308,990
Ltd.-Heshun No. 6 Assembled Funds share
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Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
Trust Plan
Domestically
Essence International Securities
24,266,429 listed foreign 24,266,429
(Hong Kong) Co., Ltd.
share
Domestically
DBS Vickers (Hong Kong) Ltd A/C
23,645,755 listed foreign 23,645,755
Clients
share
Domestically
Hong Kong Rising Investment
23,165,684 listed foreign 23,165,684
Development Co., Ltd.
share
Domestically
China Merchants Securities (HK)
10,589,256 listed foreign 10,589,256
Co., Limited
share
Among the top 10 shareholders, Hong Kong Wah Shing Holding Company Limited,
Shenzhen Rising Investment Development Co., Ltd., Guangdong Electronics Information
Industry Group Ltd. and Hong Kong Rising Investment Development Co., Ltd. are
Related or acting-in-concert parties
acting-in-concert parties; and Prosperity Lamps & Components Limited and Zhuang Jianyi
among the shareholders above
are acting-in-concert parties. Apart from that, it is unknown whether there is among the top
10 shareholders any other related parties or acting-in-concert parties as defined in the
Administrative Measures for the Acquisition of Listed Companies.
Top ten common shareholders
conducting securities margin trading N/A
(if any)
Indicate by tick mark whether any of the top ten common shareholders or the top ten non-restricted common
shareholders of the Company conducted any promissory repo during this Reporting Period.
□ Yea √ No
No such cases in this Reporting Period.
2. Total number of preference shareholders and shareholdings of the top ten of them
□ Applicable √ Not applicable
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Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
Section III Significant Events
I Changes in the key financial results of this Reporting Period, as well as the reasons for such
changes
√ Applicable □ Not applicable
Unit: RMB
March 31,
December 31, 2016/
Statement item 2017/January-March +/-% Reason for change
January-March 2016
2017
Accounts receivable 811,126,367.75 595,257,954.00 36.26% Increased operating revenues
Increased income receivable from undue
Interest receivable 6,726,391.09 4,612,406.80 45.83%
bank’s wealth management products
Other accounts
16,077,582.68 11,977,660.58 34.23% Increase in performance bonds paid
receivable
Year-end bonuses for last year were paid
Payroll payable 66,821,140.57 96,021,156.06 -30.41%
in the Current Period
In the fourth quarter of last year, the
income from the sale of Guoxuan
Taxes and fares payable 34,756,373.76 138,282,644.72 -74.87% High-tech shares resulted in an increase in
the corporate income tax payable, which
was paid in the Current Period
Dividends payable 0.00 6,287,923.09 -100.00% Payout of dividends by subsidiaries
The charges for vehicle and vessel use and
so on were included in the taxes and
Taxes and surtaxes 9,755,058.67 4,841,999.66 101.47% surtaxes from May 1, 2016 as per the
accounting and taxation regulatory
document [2016] No. 22
Increase in transportation expenses and
Selling expenses 38,400,329.73 27,744,850.71 38.41% other selling expenses due to increased
sales
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Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
Finance cost -5,743,864.20 -3,553,912.01 -61.62% Increased interest income
Asset impairment loss 22,650,361.26 11,137,926.24 103.36% Inventory falling price provisions
Increased income from bank’s wealth
Investment income 2,646,308.80 -106,841.26 2576.86%
management
Minority shareholders’
1,930,823.27 -378,242.41 610.47% Earnings of new subsidiaries
income
Other comprehensive Increased fair value of available-for-sale
78,619,675.02 -30,685,157.22 356.21%
income net of tax financial assets
Total comprehensive Increased net profit and fair value of
200,425,073.23 76,713,465.67 161.26%
income available-for-sale financial assets
Total comprehensive Increased total comprehensive income
income attributable to 198,494,249.96 77,091,708.08 157.48%
owners of the Company
Considerable increase in material
Net cash flows from
-50,923,130.47 186,104,091.50 -127.36% procurement and corporate income tax due
operating activities
to business growth
The Company has ceased its securities
investment since April 2016 and
Net cash flows from
-29,321,560.03 -124,290,416.89 76.41% recovered the amount invested in bank’s
investing activities
wealth management products in the
Current Period
Net cash flows from
-5,660,290.78 0.00 / Payout of dividends by subsidiaries
financing activities
II Progress of significant events and their influence and solutions
√ Applicable □ Not applicable
Summary of significant event Disclosure date Disclosure website
On January 19, 2017, the Proposal on
Transfer of Equity Interests of Qinghai 01/20/2017 www.cninfo.com.cn
Fozhao Lithium Energy Exploitation Co., Ltd.
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Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
was considered and approved at the 12th
meeting of the 8th Board. As such, the Board
has agreed to transfer its 38% stake in
Qinghai Fozhao to a potential buyer for
RMB189.8176 million. The success of the
said transaction still depends on the potential
buyer’s execution results of its
decision-making and approval procedure.
Therefore, it is very uncertain whether this
transaction can be successfully concluded or
not.
III Overdue commitments of the Company’s actual controller, shareholders, related parties
and acquirer, as well as the Company and other commitment makers in this Reporting Period
or ongoing at the period-end
□ Applicable √ Not applicable
No such cases in this Reporting Period.
IV Operating result forecast for January-June 2017
Warning of a forecast deficit or considerable YoY change in the accumulative net profit made during the period
from the beginning of the year to the end of the next reporting period, as well as explanation of why:
□ Applicable √ Not applicable
V Securities investments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VI Investments in derivative financial instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VII Visits paid to the Company in the Reporting Period for purposes of research,
communication, interview, etc.
√ Applicable □ Not applicable
Date of visit Way of visit Type of visitor Main inquiry information
See Easy IR-Investor Relations on
02/16/2017 One-on-one meeting Institution
www.cninfo.com.cn
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Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
VIII Illegal provision of guarantees for external parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Occupation of the Company’s funds by the controlling shareholder or its related parties
for non-operating purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
Section IV Financial Statements
I Financial statements
1. Consolidated balance sheet
Prepared by Foshan Electrical and Lighting Co., Ltd.
March 31, 2017
Unit: RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 1,393,827,082.88 1,479,283,642.54
Settlement reserve
Interbank lendings
Financial assets at fair value through
profit/loss
Derivative financial assets
Notes receivable 48,473,852.00 67,925,843.74
Accounts receivable 811,126,367.75 595,257,954.00
Accounts paid in advance 35,777,618.94 30,292,007.11
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract
reserve
Interest receivable 6,726,391.09 4,612,406.80
Dividends receivable
Other accounts receivable 16,077,582.68 11,977,660.58
Financial assets purchased under
agreements to resell
Inventories 676,437,700.82 753,681,605.19
Assets held for sale
Non-current assets due within one
year
Other current assets 432,782,210.54 441,205,461.72
Total current assets 3,421,228,806.70 3,384,236,581.68
Non-current assets:
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Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
Loans and advances to customers
Available-for-sale financial assets 1,824,394,592.21 1,732,150,857.01
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investments 208,317,481.49 210,394,932.69
Investment property
Fixed assets 446,158,295.04 446,006,929.66
Construction in progress 88,525,487.88 71,479,325.91
Engineering materials
Disposal of fixed assets
Productive living assets
Oil-gas assets
Intangible assets 159,251,490.70 160,330,395.13
R&D expenses
Goodwill
Long-term deferred expenses 6,096,713.09 6,897,119.78
Deferred tax assets 41,535,629.42 43,547,918.44
Other non-current assets 44,219,280.00 45,125,340.00
Total non-current assets 2,818,498,969.83 2,715,932,818.62
Total assets 6,239,727,776.53 6,100,169,400.30
Current liabilities:
Short-term borrowings
Borrowings from the Central Bank
Money deposits accepted and
inter-bank deposits
Interbank borrowings
Financial liabilities at fair value
through profit/loss
Derivative financial liabilities
Notes payable
Accounts payable 624,304,073.74 552,255,512.33
Accounts received in advance 45,363,524.40 41,180,818.13
Financial assets sold for repurchase
Fees and commissions payable
Payroll payable 66,821,140.57 96,021,156.06
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Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
Taxes payable 34,756,373.76 138,282,644.72
Interest payable
Dividends payable 6,287,923.09
Other accounts payable 36,685,273.36 50,104,338.81
Reinsurance premiums payable
Insurance contract reserve
Payables for acting trading of
securities
Payables for acting underwriting of
securities
Liabilities held for sale
Non-current liabilities due within one
year
Other current liabilities
Total current liabilities 807,930,385.83 884,132,393.14
Non-current liabilities:
Long-term borrowings
Bonds payable
Of which: Preference shares
Perpetual bonds
Long-term accounts payable
Long-term payroll payable
Special payables
Provisions
Deferred income 11,911,018.51 10,449,768.49
Deferred tax liabilities 213,986,655.40 200,112,595.11
Other non-current liabilities
Total non-current liabilities 225,897,673.91 210,562,363.60
Total liabilities 1,033,828,059.74 1,094,694,756.74
Owners’ equity:
Share capital 1,272,132,868.00 1,272,132,868.00
Other equity instruments
Of which: Preference shares
Perpetual bonds
Capital reserve 285,821,459.07 285,821,459.07
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Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
Less: Treasury shares
Other comprehensive income 1,212,591,047.27 1,133,971,372.25
Special reserve
Surplus reserve 733,924,951.81 733,924,951.81
Provisions for general risks
Retained earnings 1,684,490,500.94 1,564,615,925.99
Equity attributable to owners of the
5,188,960,827.09 4,990,466,577.12
Company
Minority interests 16,938,889.70 15,008,066.44
Total owners’ equity 5,205,899,716.79 5,005,474,643.56
Total liabilities and owners’ equity 6,239,727,776.53 6,100,169,400.30
Legal representative: He Yong Accounting head for this Report: Liu Xingming
Head of the accounting department: Tang Qionglan
2. Balance sheet of the Company
Unit: RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 1,131,036,357.36 1,235,417,964.88
Financial assets at fair value through
profit/loss
Derivative financial assets
Notes receivable 46,492,698.33 66,222,840.44
Accounts receivable 827,241,447.26 611,855,496.90
Accounts paid in advance 99,148,172.32 117,217,953.23
Interest receivable 5,576,877.20 3,590,629.01
Dividends receivable 14,671,820.57
Other accounts receivable 73,969,687.47 56,714,849.84
Inventories 626,573,651.25 717,097,516.25
Assets held for sale
Non-current assets due within one
year
Other current assets 372,266,177.91 379,932,325.87
Total current assets 3,182,305,069.10 3,202,721,396.99
Non-current assets:
Available-for-sale financial assets 1,824,394,592.21 1,732,150,857.01
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Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investments 691,914,771.25 693,992,222.45
Investment property
Fixed assets 371,222,819.47 375,075,102.44
Construction in progress 85,852,715.45 69,589,510.14
Engineering materials
Disposal of fixed assets
Productive living assets
Oil-gas assets
Intangible assets 115,826,159.16 117,017,633.92
R&D expenses
Goodwill
Long-term deferred expenses 6,096,713.09 6,897,119.78
Deferred tax assets 35,795,534.18 37,790,043.38
Other non-current assets 43,812,480.00 44,519,790.00
Total non-current assets 3,174,915,784.81 3,077,032,279.12
Total assets 6,357,220,853.91 6,279,753,676.11
Current liabilities:
Short-term borrowings
Financial liabilities at fair value
through profit/loss
Derivative financial liabilities
Notes payable
Accounts payable 762,976,559.10 701,814,818.26
Accounts received in advance 43,977,440.53 38,406,798.91
Payroll payable 34,902,154.82 66,764,581.34
Taxes payable 23,848,519.90 121,939,572.62
Interest payable
Dividends payable
Other accounts payable 196,228,019.07 258,368,416.59
Liabilities held for sale
Non-current liabilities due within one
year
Other current liabilities
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Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
Total current liabilities 1,061,932,693.42 1,187,294,187.72
Non-current liabilities:
Long-term borrowings
Bonds payable
Of which: Preference shares
Perpetual bonds
Long-term payables
Long-term payroll payable
Special payables
Provisions
Deferred income 11,484,768.34 9,984,768.34
Deferred tax liabilities 213,986,655.40 200,112,595.11
Other non-current liabilities
Total non-current liabilities 225,471,423.74 210,097,363.45
Total liabilities 1,287,404,117.16 1,397,391,551.17
Owners’ equity:
Share capital 1,272,132,868.00 1,272,132,868.00
Other equity instruments
Of which: Preference shares
Perpetual bonds
Capital reserve 293,425,065.15 293,425,065.15
Less: Treasury shares
Other comprehensive income 1,212,591,047.27 1,133,971,372.25
Special reserve
Surplus reserve 733,924,951.81 733,924,951.81
Retained earnings 1,557,742,804.52 1,448,907,867.73
Total owners’ equity 5,069,816,736.75 4,882,362,124.94
Total liabilities and owners’ equity 6,357,220,853.91 6,279,753,676.11
Legal representative: He Yong Accounting head for this Report: Liu Xingming
Head of the accounting department: Tang Qionglan
3. Consolidated income statement
Unit: RMB
Item January-March 2017 January-March 2016
1. Operating revenues 1,093,649,938.81 904,310,757.83
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Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
Including: Sales income 1,093,649,938.81 904,310,757.83
Interest income
Premium income
Fee and commission income
2. Operating costs 951,661,802.26 776,257,794.04
Including: Cost of sales 830,819,079.30 681,520,513.44
Interest expenses
Fee and commission expenses
Surrenders
Net claims paid
Net amount provided as insurance
contract reserve
Expenditure on policy dividends
Reinsurance premium
Taxes and surtaxes 9,755,058.67 4,841,999.66
Selling expenses 38,400,329.73 27,744,850.71
Administrative expenses 55,780,837.50 54,566,416.00
Finance costs -5,743,864.20 -3,553,912.01
Asset impairment loss 22,650,361.26 11,137,926.24
Add: Profit on fair value changes (“-”
means loss)
Investment income (“-” means loss) 2,646,308.80 -106,841.26
Including: Share of profit/loss of
2,939.30
associates and joint ventures
Exchange gains (“-” means loss)
3. Operating profit (“-” means loss) 144,634,445.35 127,946,122.53
Add: Non-operating income 1,445,858.46 1,187,884.46
Including: Profit on disposal of
0.00 10,852.26
non-current assets
Less: Non-operating expense 1,009,565.36 1,239,705.73
Including: Loss on disposal of
749,629.80 50,139.27
non-current assets
4. Total profit (“-” means loss) 145,070,738.45 127,894,301.26
Less: Corporate income tax 23,265,340.24 20,495,678.37
5. Net profit (“-” means loss) 121,805,398.21 107,398,622.89
Net profit attributable to owners of
119,874,574.94 107,776,865.30
the Company
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Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
Minority interests’ income 1,930,823.27 -378,242.41
6. Other comprehensive income net of tax 78,619,675.02 -30,685,157.22
Other comprehensive income net of
tax attributable to owners of the 78,619,675.02 -30,685,157.22
Company
6.1 Other comprehensive income
that will not be reclassified into
profit/loss
6.1.1 Changes in net liabilities
or assets with a defined benefit plan upon
re-measurement
6.1.2 Share of other
comprehensive income of investees that
cannot be reclassified into profit/loss
under the equity method
6.2 Other comprehensive income
to be subsequently reclassified into 78,619,675.02 -30,685,157.22
profit/loss
6.2.1 Share of other
comprehensive income of investees that
will be reclassified into profit/loss under
the equity method
6.2.2 Profit/loss on fair value
changes of available-for-sale financial 78,619,675.02 -30,685,157.22
assets
6.2.3 Profit/loss on
reclassifying held-to-maturity
investments into available-for-sale
financial assets
6.2.4 Effective profit/loss on
cash flow hedges
6.2.5 Currency translation
differences
6.2.6 Other
Other comprehensive income net of
tax attributable to minority interests
7. Total comprehensive income 200,425,073.23 76,713,465.67
Attributable to owners of the
198,494,249.96 77,091,708.08
Company
Attributable to minority interests 1,930,823.27 -378,242.41
8. Earnings per share
8.1 Basic earnings per share 0.0942 0.0847
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Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
8.2 Diluted earnings per share 0.0942 0.0847
Where business mergers under the same control occurred in this Reporting Period, the net profit achieved by the merged parties
before the business mergers was RMB0.00, with the corresponding amount for the last period being RMB0.00.
Legal representative: He Yong Accounting head for this Report: Liu Xingming
Head of the accounting department: Tang Qionglan
4. Income statement of the Company
Unit: RMB
Item January-March 2017 January-March 2016
1. Operating revenues 1,065,186,916.21 916,228,477.71
Less: Operating costs 830,329,549.74 715,477,230.48
Taxes and surtaxes 6,876,291.73 2,844,766.16
Selling expenses 35,427,725.59 27,528,676.46
Administrative expenses 49,721,540.15 44,685,990.61
Finance costs -4,394,600.15 -2,174,344.12
Asset impairment loss 21,943,712.75 11,178,161.37
Add: profit on fair value changes (“-”
means loss)
Investment income (“-” means
2,202,183.81 -106,841.26
loss)
Including: Share of profit/loss of
2,939.30
associates and joint ventures
2. Operating profit (“-” means loss) 127,484,880.21 116,581,155.49
Add: Non-operating income 1,262,962.66 1,041,340.99
Including: Profit on disposal of
0.00
non-current assets
Less: Non-operating expense 706,740.75 71,261.90
Including: Loss on disposal of
448,822.74 32,003.23
non-current assets
3. Total profit (“-” means loss) 128,041,102.12 117,551,234.58
Less: Corporate income tax 19,206,165.33 17,626,085.93
4. Net profit (“-” means loss) 108,834,936.79 99,925,148.65
5. Other comprehensive income net of
78,619,675.02 -30,685,157.22
tax
5.1 Other comprehensive income that
will not be reclassified into profit and
loss
5.1.1 Changes in net liabilities or
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Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
assets with a defined benefit plan upon
re-measurement
5.1.2 Share of other
comprehensive income of investees that
cannot be reclassified into profit/loss
under the equity method
5.2 Other comprehensive income to
be subsequently reclassified into 78,619,675.02 -30,685,157.22
profit/loss
5.2.1 Share of other
comprehensive income of investees that
will be reclassified into profit/loss
under the equity method
5.2.2 Profit/loss on fair value
changes of available-for-sale financial 78,619,675.02 -30,685,157.22
assets
5.2.3 Profit/loss on reclassifying
held-to-maturity investments into
available-for-sale financial assets
5.2.4 Effective profit/loss on cash
flow hedges
5.2.5 Currency translation
differences
5.2.6 Other
6. Total comprehensive income 187,454,611.81 69,239,991.43
7. Earnings per share
7.1 Basic earnings per share
7.2 Diluted earnings per share
Legal representative: He Yong Accounting head for this Report: Liu Xingming
Head of the accounting department: Tang Qionglan
5. Consolidated cash flow statement
Unit: RMB
Item January-March 2017 January-March 2016
1. Cash flows from operating activities:
Cash received from sale of
891,447,570.02 751,648,546.04
commodities and rendering of service
Net increase in money deposits from
customers and interbank placements
Net increase in loans from the
Central Bank
20
Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
Net increase in funds borrowed from
other financial institutions
Cash received from premium of
original insurance contracts
Net cash received from reinsurance
business
Net increase in deposits of policy
holders and investment fund
Net increase in disposal of financial
assets at fair value through profit/loss
Interest, fees and commissions
received
Net increase in interbank borrowings
Net increase in funds in repurchase
business
Tax refunds received 24,106,127.07 34,432,771.16
Cash received from other operating
5,770,626.16 10,956,963.96
activities
Subtotal of cash inflows from operating
921,324,323.25 797,038,281.16
activities
Cash paid for goods and services 552,182,800.34 388,307,756.52
Net increase in loans and advances
to customers
Net increase in funds deposited in
the Central Bank and interbank
placements
Cash paid for claims of original
insurance contracts
Interest, fees and commissions paid
Cash paid as policy dividends
Cash paid to and for employees 198,007,961.77 142,895,599.81
Taxes paid 165,193,093.74 34,192,711.05
Cash paid for other operating
56,863,597.87 45,538,122.28
activities
Subtotal of cash outflows due to
972,247,453.72 610,934,189.66
operating activities
Net cash flows from operating
-50,923,130.47 186,104,091.50
activities
2. Cash flows from investing activities:
Cash received from retraction of
4,580,255.71 7,005.00
investments
21
Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
Cash received as investment income 5,202,481.38 341,953.73
Net cash received from disposal of
fixed assets, intangible assets and other 54,000.00
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Cash received from other
investing activities
Subtotal of cash inflows from investing
9,782,737.09 402,958.73
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 39,104,297.12 14,704,385.62
assets
Cash paid for investment 109,988,990.00
Net increase in pledged loans
Net cash paid to acquire subsidiaries
and other business units
Cash paid for other investing
activities
Subtotal of cash outflows due to
39,104,297.12 124,693,375.62
investing activities
Net cash flows from investing activities -29,321,560.03 -124,290,416.89
3. Cash flows from financing activities:
Cash received from capital
contributions
Including: Cash received from
minority shareholder investments by
subsidiaries
Cash received as borrowings
Cash received from issuance of
bonds
Cash received from other financing
activities
Subtotal of cash inflows from financing
activities
Repayment of borrowings
Cash paid for interest expenses and
5,660,290.78
distribution of dividends or profit
Including: dividends or profit paid
by subsidiaries to minority interests
Cash paid for other financing
activities
22
Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
Sub-total of cash outflows due to
5,660,290.78
financing activities
Net cash flows from financing
-5,660,290.78
activities
4. Effect of foreign exchange rate
448,421.62 2,339,324.91
changes on cash and cash equivalents
5. Net increase in cash and cash
-85,456,559.66 64,152,999.52
equivalents
Add: Opening balance of cash and
1,479,283,642.54 935,241,205.20
cash equivalents
6. Closing balance of cash and cash
1,393,827,082.88 999,394,204.72
equivalents
Legal representative: He Yong Accounting head for this Report: Liu Xingming
Head of the accounting department: Tang Qionglan
6. Cash flow statement of the Company
Unit: RMB
Item January-March 2017 January-March 2016
1. Cash flows from operating activities:
Cash received from sale of
862,744,439.39 746,819,116.75
commodities and rendering of service
Tax refunds received 24,106,127.07 34,432,771.16
Cash received from other operating
3,825,641.43 8,309,282.13
activities
Subtotal of cash inflows from operating
890,676,207.89 789,561,170.04
activities
Cash paid for goods and services 699,760,627.60 492,802,614.83
Cash paid to and for employees 103,479,544.66 70,076,334.33
Taxes paid 132,294,837.84 9,335,332.53
Cash paid for other operating
50,830,424.51 43,078,475.07
activities
Subtotal of cash outflows due to
986,365,434.61 615,292,756.76
operating activities
Net cash flows from operating
-95,689,226.72 174,268,413.28
activities
2. Cash flows from investing activities:
Cash received from retraction of
4,580,255.71 7,005.00
investments
Cash received as investment income 19,424,371.39 341,953.73
Net cash received from disposal of
fixed assets, intangible assets and other
23
Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Cash received from other investing
activities
Subtotal of cash inflows from investing
24,004,627.10 348,958.73
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 33,145,429.52 14,236,431.87
assets
Cash paid for investment 109,988,990.00
Net cash paid to acquire subsidiaries
and other business units
Cash paid for other investing
activities
Subtotal of cash outflows due to
33,145,429.52 124,225,421.87
investing activities
Net cash flows from investing activities -9,140,802.42 -123,876,463.14
3. Cash flows from financing activities:
Cash received from capital
contributions
Cash received as borrowings
Cash received from issuance of
bonds
Cash received from other financing
activities
Subtotal of cash inflows from financing
activities
Repayment of borrowings
Cash paid for interest expenses and
distribution of dividends or profit
Cash paid for other financing
activities
Sub-total of cash outflows due to
financing activities
Net cash flows from financing
activities
4. Effect of foreign exchange rate
448,421.62 2,339,324.46
changes on cash and cash equivalents
5. Net increase in cash and cash
-104,381,607.52 52,731,274.60
equivalents
Add: Opening balance of cash and 1,235,417,964.88 633,291,177.30
24
Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2017
cash equivalents
6. Closing balance of cash and cash
1,131,036,357.36 686,022,451.90
equivalents
Legal representative: He Yong Accounting head for this Report: Liu Xingming
Head of the accounting department: Tang Qionglan
II Auditor’s report
Is this Report audited?
□ Yes √ No
This Report is not audited.
The Board of Directors
Foshan Electrical and Lighting Co., Ltd.
April 26, 2017
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