Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2024
Stock Code: 000541, 200541 Stock Name: FSL, FSL-B Announcement No.2024-032
FOSHAN ELECTRICAL AND LIGHTING CO., LTD.
FIRST QUARTERLY REPORT 2024
Foshan Electrical and Lighting Co., Ltd. (hereinafter referred to as the “Company”) and all the members of the
Company’s Board of Directors hereby guarantee that the contents of this Report are true, accurate and complete
and free of any misrepresentations, misleading statements or material omissions.
Important Notes:
1. The Board of Directors, the Supervisory Committee as well as the directors, supervisors and senior
management of the Company hereby guarantee that the contents of this Report are true, accurate and complete
and free of any misrepresentations, misleading statements or material omissions, and collectively and
individually accept legal responsibility for such contents.
2. The Company’s legal representative, Chief Financial Officer (CFO), and person-in-charge of the Company’s
accounting organ (equivalent to accounting manager) hereby guarantee that the financial statements carried in
this Report are true, accurate and complete.
3. Indicate whether the financial statements in this Report have been audited by an independent auditor.
□Yes No
4. This Report has been prepared in both Chinese and English. Should there be any discrepancies or
misunderstandings between the two versions, the Chinese version shall prevail.
1
Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2024
I Key Financial Information
(I) Key Accounting Data and Financial Indicators
Indicate whether there is any retrospectively restated datum in the table below.
□Yes No
Q1 2024 Q1 2023 YoY change (%)
Operating revenue (RMB) 2,517,243,351.93 2,193,613,606.54 14.75%
Net profit attributable to the
listed company’s shareholders 83,714,220.74 66,221,546.43 26.42%
(RMB)
Net profit attributable to the
listed company’s shareholders
76,725,491.16 59,526,020.95 28.89%
before exceptional gains and
losses (RMB)
Net cash generated from/used
77,337,687.93 74,718,240.10 3.51%
in operating activities (RMB)
Basic earnings per share
0.0545 0.0491 11.00%
(RMB/share)
Diluted earnings per share
0.0541 0.0486 11.32%
(RMB/share)
Weighted average return on
1.32% 1.27% 0.05%
equity (%)
31 March 2024 31 December 2023 Change (%)
Total assets (RMB) 16,743,443,081.77 16,934,439,915.02 -1.13%
Equity attributable to the
listed company’s shareholders 6,358,579,328.50 6,285,442,808.19 1.16%
(RMB)
(II) Exceptional Gains and Losses
Applicable □ Not applicable
Unit: RMB
Item Q1 2024 Note
Gain or loss on disposal of non-current
assets (inclusive of impairment 71,208.17
allowance write-offs)
Government grants recognised in profit
or loss (exclusive of those that are
closely related to the Company's normal
business operations and given in
14,481,564.17
accordance with defined criteria and in
compliance with government policies,
and have a continuing impact on the
Company's profit or loss)
Gain or loss on fair-value changes in
financial assets and liabilities held by a
non-financial enterprise, as well as on
disposal of financial assets and liabilities 1,181,146.09
(exclusive of the effective portion of
hedges that is related to the Company's
normal business operations)
2
Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2024
Capital occupation charges on non-
financial enterprises that are charged to 41,758.63
current gains and losses
Reversed portions of impairment
allowances for receivables which are 38,706.02
tested individually for impairment
Non-operating income and expense other
230,293.58
than the above
Less: Income tax effects 1,774,097.55
Non-controlling interests effects
7,281,849.53
(net of tax)
Total 6,988,729.58 --
Other items that meet the definition of exceptional gain/loss:
□Applicable Not applicable
No such cases in the Reporting Period.
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the
Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Exceptional Gain/Loss Items:
□Applicable Not applicable
No such cases in the Reporting Period.
(III) Changes in Key Financial Statement Line Items and Explanation of why
Applicable □ Not applicable
Unit: RMB
Q1 2024/31 March Q1 2023/31
Item Change (%) Main reason for the change
2024 December 2023
Contract assets 2,366,030.73 4,252,013.94 -44.36% Receipt of customer payments in the current period
Purchase of time depository receipts with a
Other current assets 194,491,321.99 109,292,399.14 77.96%
maturity within one year in the current period
Other debt Purchase of large depository receipts in the current
1,137,475,227.53 454,822,905.25 150.09%
investments period
Short-term Derecognition of discounted notes receivable with
115,406,529.09 220,019,877.73 -47.55%
borrowings recourse in the current period
Advances from Decrease in advances of rentals in the current
193,618.85 466,872.69 -58.53%
customers period
Decreased advances from customers in the current
Contract liabilities 137,625,250.32 235,335,693.28 -41.52%
period
Taxes and levies Increase in value added tax payable in the current
95,149,122.98 42,940,157.30 121.59%
payable period
Other non-current Transfer of output tax pending write-off in the
205,769.48 -100.00%
liabilities current period
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Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2024
Establishment of specific reserve in the current
Specific reserve 1,719,382.45 1,213,325.92 41.71%
period
Increased business promotion and advertising
Selling expense 83,278,275.64 52,638,260.76 58.21% expenses paid in the process of selling products for
market expansion in the current period
R&D expense 130,242,811.21 98,541,775.73 32.17% Greater inputs in R&D in the current period
Finance costs -14,291,426.54 5,335,776.00 -367.84% Currency fluctuations in the current period
Decreased interest expense on borrowings in the
Interest costs 4,840,250.34 8,813,441.07 -45.08%
current period
Increase in government grants received in the
Other income 27,748,471.98 15,294,205.55 81.43%
current period
Increased interest income from large depository
Return on investment 8,290,925.60 4,102,704.62 102.08%
receipts in the current period
Share of profit of Increase in net profits of associates attributable to
joint ventures and 990,924.47 468,407.36 111.55% owners of the Company as the parent in the current
associates period
Decreased gain on changes in fair value as a result
Gain on changes in of the transfer of investments in wealth
-466,532.76 2,355,332.19 -119.81%
fair value management instruments to return on investment
upon maturity
Credit impairment Increased allowance for expected credit loss in the
-11,578,477.05 -6,018,416.50 -92.38%
loss (“-” for loss) current period
Asset impairment Increased inventory valuation allowances in the
-23,811,074.89 -12,009,254.31 -98.27%
loss (“-” for loss) current period
Asset disposal
-99,108.79 152,323.52 -165.06% Loss on disposal of assets in the current period
income
Non-operating Decreased non-operating income in the current
217,620.55 1,102,454.61 -80.26%
income period
Reversal in the current period of loss on damage
Non-operating and retirement of non-current assets recognized in
-182,989.99 2,805,527.75 -106.52%
expense the same period of last year, and a higher base of
such loss in the same period of last year
Increased changes in the fair value of investments
Other comprehensive
-11,249,041.00 -1,178,927.49 -854.18% in other equity instruments in the current period
income, net of tax
compared with the same period of last year
Other comprehensive
income attributable Increased changes in the fair value of investments
to owners of the -11,083,756.96 -1,542,425.45 -618.59% in other equity instruments in the current period
Company as the compared with the same period of last year
parent, net of tax
Changes in the fair
Increased changes in the fair value of investments
value of investments
-10,891,442.27 -1,962,252.78 -455.05% in other equity instruments in the current period
in other equity
compared with the same period of last year
instruments
Differences arising
from the translation
Fluctuations of the RMB against foreign
of foreign currency- -192,314.69 419,827.33 -145.81%
currencies
denominated
financial statements
Other comprehensive
income attributable Fluctuations of the RMB against foreign
-165,284.04 363,497.96 -145.47%
to non-controlling currencies
interests, net of tax
Net cash generated
Purchase of a higher total amount of large
from/used in -846,896,748.45 -160,051,306.41 -429.14%
depository receipts in the current period
investing activities
Net cash generated Increase in borrowings obtained in the current
from/used in 57,657,087.76 23,862,522.56 141.62% period and higher amount of borrowing repayment
financing activities in the same period of last year
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Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2024
Net increase in cash Decrease in net cash generated from investing
-705,683,822.03 -64,182,857.56 -999.49%
and cash equivalents activities
II Shareholder Information
(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well
as Holdings of Top 10 Shareholders
Unit: share
Number of preference shareholders with resumed
Number of ordinary shareholders 75,427 0
voting rights (if any)
Top 10 shareholders (exclusive of shares lent in refinancing)
Name of Nature of Shareholding Total shares Restricted Shares in pledge, marked or frozen
shareholder shareholder percentage held shares held Status Shares
Hong Kong
Wah Shing
Foreign
Holding 12.17% 188,496,430.00 0.00 N/A 0.00
corporation
Company
Limited
Prosperity
Lamps & Foreign
9.49% 146,934,857.00 0.00 N/A 0.00
Components corporation
Limited
Guangdong
Rising State-owned
8.38% 129,826,793.00 46,695,895.00 N/A 0.00
Holdings corporation
Group Co., Ltd.
Guangdong
Electronics
State-owned
Information 7.92% 122,694,246.00 0.00 N/A 0.00
corporation
Industry Group
Ltd.
Essence
International
Foreign
Securities 2.50% 38,645,124.00 0.00 N/A 0.00
corporation
(Hong Kong)
Limited
Central Huijin
Asset State-owned
2.14% 33,161,800.00 0.00 N/A 0.00
Management corporation
Co., Ltd.
Rising
Investment Foreign
1.65% 25,482,252.00 0.00 N/A 0.00
Development corporation
Limited
Hong Kong
Securities
Foreign
Clearing 1.61% 25,009,733.00 0.00 N/A 0.00
corporation
Company
Limited
Caitong Fund-
Huatai
Securities Co.,
Ltd.-Caitong
Fund Junxinag Other 0.99% 15,392,492.00 15,392,492.00 N/A 0.00
Yongxi Single
Asset
Management
Plan
Nuode Asset
Management- Other 0.96% 14,846,416.00 14,846,416.00 N/A 0.00
Huatai
5
Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2024
Securities Co.,
Ltd.-Caitong
Fund Pujiang
No. 120 Single
Asset
Management
Plan
Top 10 unrestricted shareholders
Shares by class
Name of shareholder Unrestricted shares held
Class Shares
RMB-
Hong Kong Wah Shing Holding
188,496,430.00 denominated 188,496,430.00
Company Limited
ordinary share
RMB-
Prosperity Lamps & Components
146,934,857.00 denominated 146,934,857.00
Limited
ordinary share
RMB-
Guangdong Electronics
122,694,246.00 denominated 122,694,246.00
Information Industry Group Ltd.
ordinary share
RMB-
Guangdong Rising Holdings
83,130,898.00 denominated 83,130,898.00
Group Co., Ltd.
ordinary share
Domestically
Essence International Securities
38,645,124.00 listed foreign 38,645,124.00
(Hong Kong) Limited
share
RMB-
Central Huijin Asset Management
33,161,800.00 denominated 33,161,800.00
Co., Ltd.
ordinary share
Domestically
Rising Investment Development
25,482,252.00 listed foreign 25,482,252.00
Limited
share
RMB-
Hong Kong Securities Clearing
25,009,733.00 denominated 25,009,733.00
Company Limited ordinary share
RMB-
Zhang Shaowu 11,700,000.00 denominated 11,700,000.00
ordinary share
Domestically
China Merchants Securities (HK)
9,039,244.00 listed foreign 9,039,244.00
Co., Limited share
Among the top 10 shareholders, Hong Kong Wah Shing Holding
Company Limited, Guangdong Electronics Information Industry Group
Ltd., Guangdong Rising Holdings Group Co., Ltd. and Rising
Related or acting-in-concert parties among the
Investment Development Limited are acting-in-concert parties. Apart
shareholders above
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 10 shareholders involved in securities margin
None
trading (if any)
5% or greater shareholders, top 10 shareholders and Top 10 unrestricted shareholders involved in refinancing
shares lending
□Applicable Not applicable
Changes in top 10 shareholders and top 10 unrestricted shareholders due to refinancing shares lending/return
compared with the prior period
□Applicable Not applicable
6
Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2024
(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them
□Applicable Not applicable
III Other Significant Events
□Applicable Not applicable
IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by Foshan Electrical and Lighting Co., Ltd.
31 March 2024
Unit: RMB
Item 31 March 2024 1 January 2024
Current assets:
Monetary assets 2,833,101,452.72 3,596,049,654.55
Settlement reserve
Loans to other banks and financial
institutions
Held-for-trading financial assets 127,063,242.65 152,529,775.41
Derivative financial assets
Notes receivable 1,055,338,819.72 1,057,352,267.60
Accounts receivable 2,381,690,924.69 2,093,499,280.40
Receivables financing 385,082,240.27 443,201,960.02
Prepayments 26,945,411.10 34,508,638.92
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract reserve
Other receivables 40,464,946.94 49,108,300.85
Including: Interest receivable
Dividends receivable
Financial assets purchased under resale
agreements
Inventories 1,646,905,367.28 1,971,171,641.14
Including: data resources
Contract assets 2,366,030.73 4,252,013.94
Assets held for sale 17,147,339.84 17,147,339.84
Current portion of non-current assets
Other current assets 194,491,321.99 109,292,399.14
Total current assets 8,710,597,097.93 9,528,113,271.81
Non-current assets:
Loans and advances to customers
Debt investments
Other debt investments 1,137,475,227.53 454,822,905.25
Long-term receivables
Long-term equity investments 180,179,479.62 179,188,555.15
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Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2024
Investments in other equity
686,949,284.85 699,762,746.35
instruments
Other non-current financial assets
Investment property 161,845,679.22 163,636,347.41
Fixed assets 3,366,822,749.15 3,453,214,586.47
Construction in progress 1,209,628,279.34 1,174,533,505.11
Productive living assets
Oil and gas assets
Right-of-use assets 8,405,429.70 8,812,320.64
Intangible assets 396,890,751.29 434,549,913.99
Including: data resources
Development costs
Including: data resources
Goodwill 421,831,593.46 421,831,593.46
Long-term prepaid expense 199,075,201.62 190,362,699.25
Deferred income tax assets 114,183,830.17 106,283,766.95
Other non-current assets 149,558,477.89 119,327,703.18
Total non-current assets 8,032,845,983.84 7,406,326,643.21
Total assets 16,743,443,081.77 16,934,439,915.02
Current liabilities:
Short-term borrowings 115,406,529.09 220,019,877.73
Borrowings from the central bank
Loans from other banks and financial
institutions
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 2,130,533,325.60 2,271,174,787.69
Accounts payable 2,791,661,140.59 2,875,980,206.64
Advances from customers 193,618.85 466,872.69
Contract liabilities 137,625,250.32 235,335,693.28
Financial assets sold under repurchase
agreements
Customer deposits and deposits from
other banks and financial institutions
Payables for acting trading of securities
Payables for underwriting of securities
Employee benefits payable 176,204,266.96 193,830,812.66
Taxes and levies payable 95,149,122.98 42,940,157.30
Other payables 386,631,533.18 362,491,923.01
Including: Interest payable
Dividends payable
Fees and commissions payable
Reinsurance payables
Liabilities directly associated with
assets held for sale
Current portion of non-current
369,352,382.68 343,914,214.45
liabilities
Other current liabilities 96,227,554.81 95,008,427.01
Total current liabilities 6,298,984,725.06 6,641,162,972.46
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 304,807,255.75 253,093,421.29
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities 4,657,156.29 4,310,967.92
Long-term payables
Long-term employee benefits payable
8
Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2024
Provisions 18,196,474.55 14,277,087.30
Deferred income 68,698,458.52 75,185,461.27
Deferred income tax liabilities 172,072,818.81 174,806,746.25
Other non-current liabilities 205,769.48
Total non-current liabilities 568,432,163.92 521,879,453.51
Total liabilities 6,867,416,888.98 7,163,042,425.97
Owners’ equity:
Share capital 1,548,778,230.00 1,548,778,230.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 914,336,325.66 914,336,325.66
Less: Treasury stock 82,165,144.15 82,165,144.15
Other comprehensive income 348,943,270.63 360,027,027.59
Specific reserve 1,719,382.45 1,213,325.92
Surplus reserves 107,944,679.06 107,944,679.06
General reserve
Retained earnings 3,519,022,584.85 3,435,308,364.11
Total equity attributable to owners of the
6,358,579,328.50 6,285,442,808.19
Company as the parent
Non-controlling interests 3,517,446,864.29 3,485,954,680.86
Total owners’ equity 9,876,026,192.79 9,771,397,489.05
Total liabilities and owners’ equity 16,743,443,081.77 16,934,439,915.02
Legal representative: Wan Shan Chief Financial Officer: Tang Qionglan
Person-in-charge of the Company’s accounting organ: Liang Yuefei
2. Consolidated Income Statement
Unit: RMB
Item Q1 2024 Q1 2023
1. Revenues 2,517,243,351.93 2,193,613,606.54
Including: Operating revenue 2,517,243,351.93 2,193,613,606.54
Interest revenue
Insurance premium income
Fee and commission
income
2. Costs and expenses 2,386,645,489.59 2,084,362,951.90
Including: Cost of sales 2,056,502,024.36 1,813,154,540.46
Interest costs
Fee and commission
expense
Surrenders
Net insurance claims paid
Net amount provided as
insurance contract reserve
Expenditure on policy
dividends
Reinsurance premium
expense
Taxes and levies 18,361,206.30 16,950,032.53
Selling expense 83,278,275.64 52,638,260.76
Administrative expense 112,552,598.62 97,742,566.42
R&D expense 130,242,811.21 98,541,775.73
Finance costs -14,291,426.54 5,335,776.00
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Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2024
Including: Interest costs 4,840,250.34 8,813,441.07
Interest
12,831,299.72 11,539,895.40
revenue
Add: Other income 27,748,471.98 15,294,205.55
Return on investment (“-” for loss) 8,290,925.60 4,102,704.62
Including: Share of profit or loss
990,924.47 468,407.36
of joint ventures and associates
Income from the derecognition
of financial assets at amortized cost (“-”
for loss)
Exchange gain (“-” for loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
-466,532.76 2,355,332.19
for loss)
Credit impairment loss (“-” for
-11,578,477.05 -6,018,416.50
loss)
Asset impairment loss (“-” for
-23,811,074.89 -12,009,254.31
loss)
Asset disposal income (“-” for
-99,108.79 152,323.52
loss)
3. Operating profit (“-” for loss) 130,682,066.43 113,127,549.71
Add: Non-operating income 217,620.55 1,102,454.61
Less: Non-operating expense -182,989.99 2,805,527.75
4. Profit before tax (“-” for loss) 131,082,676.97 111,424,476.57
Less: Income tax expense 15,957,470.97 20,116,039.48
5. Net profit (“-” for net loss) 115,125,206.00 91,308,437.09
5.1 By operating continuity
5.1.1 Net profit from continuing
115,125,206.00 91,308,437.09
operations (“-” for net loss)
5.1.2 Net profit from discontinued
operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to
83,714,220.74 66,221,546.43
owners of the Company as the parent
5.2.1 Net profit attributable to non-
31,410,985.26 25,086,890.66
controlling interests
6. Other comprehensive income, net of
-11,249,041.00 -1,178,927.49
tax
Attributable to owners of the
-11,083,756.96 -1,542,425.45
Company as the parent
6.1 Items that will not be
-10,891,442.27 -1,962,252.78
reclassified to profit or loss
6.1.1 Changes caused by
remeasurements on defined benefit
schemes
6.1.2 Other comprehensive
income that will not be reclassified to
profit or loss under the equity method
6.1.3 Changes in the fair value of
-10,891,442.27 -1,962,252.78
investments in other equity instruments
6.1.4 Changes in the fair value
arising from changes in own credit risk
6.1.5 Other
6.2 Items that will be reclassified to
-192,314.69 419,827.33
profit or loss
6.2.1 Other comprehensive
income that will be reclassified to profit
or loss under the equity method
6.2.2 Changes in the fair value of
other debt investments
6.2.3 Other comprehensive
income arising from the reclassification
of financial assets
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Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2024
6.2.4 Credit impairment
allowance for other debt investments
6.2.5 Reserve for cash flow
hedges
6.2.6 Differences arising from the
translation of foreign currency- -192,314.69 419,827.33
denominated financial statements
6.2.7 Other
Attributable to non-controlling
-165,284.04 363,497.96
interests
7. Total comprehensive income 103,876,165.00 90,129,509.60
Attributable to owners of the
72,630,463.78 64,679,120.98
Company as the parent
Attributable to non-controlling
31,245,701.22 25,450,388.62
interests
8. Earnings per share
8.1 Basic earnings per share 0.0545 0.0491
8.2 Diluted earnings per share 0.0541 0.0486
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees before
the combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.
Legal representative: Wan Shan Chief Financial Officer: Tang Qionglan
Person-in-charge of the Company’s accounting organ: Liang Yuefei
3. Consolidated Cash Flow Statement
Unit: RMB
Item Q1 2024 Q1 2023
1. Cash flows from operating activities:
Proceeds from sale of commodities
2,069,241,779.07 1,755,313,840.62
and rendering of services
Net increase in customer deposits and
deposits from other banks and financial
institutions
Net increase in borrowings from the
central bank
Net increase in loans from other
financial institutions
Premiums received on original
insurance contracts
Net proceeds from reinsurance
Net increase in deposits and
investments of policy holders
Interest, fees and commissions received
Net increase in loans from other banks
and financial institutions
Net increase in proceeds from
repurchase transactions
Net proceeds from acting trading of
securities
Tax and levy rebates 41,874,360.02 47,283,404.19
Cash generated from other operating
74,500,446.97 60,839,027.29
activities
Subtotal of cash generated from
2,185,616,586.06 1,863,436,272.10
operating activities
Payments for commodities and services 1,559,871,489.82 1,257,371,909.59
Net increase in loans and advances to
customers
Net increase in deposits in the central
bank and other banks and financial
institutions
Payments for claims on original
insurance contracts
11
Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2024
Net increase in loans to other banks and
financial institutions
Interest, fees and commissions paid
Policy dividends paid
Cash paid to and for employees 390,430,757.95 350,439,220.39
Taxes and levies paid 44,761,183.74 90,343,198.54
Cash used in other operating activities 113,215,466.62 90,563,703.48
Subtotal of cash used in operating
2,108,278,898.13 1,788,718,032.00
activities
Net cash generated from/used in
77,337,687.93 74,718,240.10
operating activities
2. Cash flows from investing activities:
Proceeds from disinvestment 180,000,000.00 20,981,292.12
Return on investment 1,746,539.59 15,446.65
Net proceeds from the disposal of fixed
assets, intangible assets and other long- 29,708.48 356,000.00
lived assets
Net proceeds from the disposal of
subsidiaries and other business units
Cash generated from other investing
activities
Subtotal of cash generated from
181,776,248.07 21,352,738.77
investing activities
Payments for the acquisition of fixed
assets, intangible assets and other long- 89,672,996.52 51,404,045.18
lived assets
Payments for investments 939,000,000.00 130,000,000.00
Net increase in pledged loans granted
Net payments for the acquisition of
subsidiaries and other business units
Cash used in other investing activities
Subtotal of cash used in investing
1,028,672,996.52 181,404,045.18
activities
Net cash generated from/used in
-846,896,748.45 -160,051,306.41
investing activities
3. Cash flows from financing activities:
Capital contributions received
Including: Capital contributions by
non-controlling interests to subsidiaries
Borrowings received 87,057,389.10 50,000,000.00
Cash generated from other financing
27,046,956.73 78,509,476.58
activities
Subtotal of cash generated from
114,104,345.83 128,509,476.58
financing activities
Repayment of borrowings 50,829,326.00 100,000,000.00
Interest and dividends paid 3,630,486.09 4,578,701.69
Including: Dividends paid by
subsidiaries to non-controlling interests
Cash used in other financing activities 1,987,445.98 68,252.33
Subtotal of cash used in financing
56,447,258.07 104,646,954.02
activities
Net cash generated from/used in
57,657,087.76 23,862,522.56
financing activities
4. Effect of foreign exchange rates
6,218,150.73 -2,712,313.81
changes on cash and cash equivalents
5. Net increase in cash and cash
-705,683,822.03 -64,182,857.56
equivalents
Add: Cash and cash equivalents,
3,101,252,943.88 1,945,971,307.26
beginning of the period
6. Cash and cash equivalents, end of the
2,395,569,121.85 1,881,788,449.70
period
Legal representative: Wan Shan Chief Financial Officer: Tang Qionglan
Person-in-charge of the Company’s accounting organ: Liang Yuefei
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Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2024
(II) Adjustments to Financial Statement Items at the Beginning of the Year of the First Implementation
of the New Accounting Standards Implemented since 2024
□ Applicable Not applicable
(III) Independent Auditor’s Report
Indicate by tick mark 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.
The Board of Directors
Foshan Electrical and Lighting Co., Ltd.
29 April 2024
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