English Translation for Reference Only
Short Form of the Stock: Foshan Electrical & Lighting (A-Share), Yue Electrical & Lighting B (B-Share)
Stock Code: 000541 (A-Share), 200541(B-Share)
Announcement No.: 2011-
Foshan Electrical & Lighting Company Limited
Summary of Semi-Annual Report 2011
§1 Important Notes
1.1 The Board of Directors, the Board of Supervisors as well as directors, supervisors
and senior management of Foshan Electrical & Lighting Company Limited
(hereinafter referred to as “the Company”) warrant that this report does not contain
any false or misleading statements or omit any material facts and will take individual
and joint responsibility for authenticity, accuracy and completeness of all contents set
forth herein.
The Summary of Semi-Annual Report 2011 is abstracted from the full text of
Semi-Annual Report 2011, which is published on the Internet website
http://www.cninfo.com.cn in the mean time. Investors are suggested to read the full
text to understand more details.
1.2 All other directors than the following ones attended in person the board session
for reviewing the semi-annual report.
Reason for not attending
Name of director Office title Name of proxy
the session in person
Mr.Joerg Thaele Director On a business trip Director Francis Michael Piscitelli
1.3 The semi-annual financial report of the Company has not been audited by a CPA
firm.
1.4 Mr. Zhong Xincai, company principal and concurrently head of the accounting
work, and Ms. Wang Shuqiong, chief of the Financial Department (accounting
principal) hereby declare that the financial report enclosed in the semi-annual report is
true and complete.
English Translation for Reference Only. Should there be any discrepancy between the
two versions, the Chinese version shall prevail.
§2 Company Profile
2.1 Basic information
Short form of the stock Foshan Electrical & Lighting, Yue Electrical & Lighting B
Stock code 000541, 200541
Stock exchange Shenzhen Stock Exchange
Company Secretary Securities Affairs Representative
Name Zhou Xiangfeng
1
English Translation for Reference Only
Contact address 64 Fenjiang North Road, Shancheng
District, Foshan
Tel. (0757)82966062, 82810239
Fax (0757)82816276
E-mail fsldsh@126.com
2.2 Financial highlights
2.2.1 Major accounting data and financial indexes
Unit: RMB Yuan
Increase/decrease at the end of this
At the end of this At the end of last
reporting period compared with the
reporting period year
end of last year (%)
Total assets (Yuan) 3,102,265,236.42 3,128,547,460.46 -0.84%
Owners’ equity attributable to shareholders of the
2,627,603,894.11 2,766,913,027.29 -5.03%
listed company (Yuan)
Share capital (share) 978,563,745.00 978,563,745.00 0.00%
Net assets per share attributable to shareholders of
2.69 2.83 -4.95%
the listed company (Yuan/share)
Reporting period
Same period of last
(From Jan. to Jun. Increase/decrease year-on-year (%)
year
2011)
Total operating income (Yuan) 1,095,319,303.24 824,360,344.65 32.87%
Operating profit (Yuan) 151,632,304.43 100,391,784.74 51.04%
Total profit (Yuan) 147,367,757.98 99,393,710.09 48.27%
Net profit attributable to shareholders of the listed
117,867,457.28 80,817,767.96 45.84%
company (Yuan)
Net profit attributable to shareholders of the listed
company after deducting non-recurring gains and 121,278,591.24 77,499,017.69 56.49%
losses (Yuan)
Basic earnings per share (Yuan/share) 0.12 0.08 50.00%
Diluted earnings per share (Yuan/share) 0.12 0.08 50.00%
Weighted average ROE (%) 4.39% 3.12% 1.27%
Weighted average ROE after deducting
4.52% 2.99% 1.53%
non-recurring gains and losses (%)
Net cash flows from operating activities (Yuan) 74,468,557.85 75,605,698.73 -1.50%
Net cash flows per share from operating activities
0.08 0.08 0.00%
(Yuan/share)
2.2.2 Items of non-recurring gains and losses
√Applicable □Inapplicable
2
English Translation for Reference Only
Unit: RMB Yuan
Items of non-recurring gains and losses Amount Note (if applicable)
Gains and Losses on disposal of non-current assets -5,125,258.92
Government subsidies accounted into current income account, except
for those government subsidies closely related to the Company’s
710,499.98
normal operation business, according with state policies, and
sustainably received by quota or ration
Gain/loss from change of fair value of transactional asset and
liabilities, and investment gains from disposal of transactional financial
14,033.17
assets and liabilities and sellable financial assets, other than valid
period value instruments related to the Company’s common businesses
Capital occupied from non-financial enterprise recorded into current
165,423.00
gains and losses
Other non-operating income and expense except the aforesaid items 150,212.49
Impact on income tax 686,488.26
Other gains and losses accorded with definition of non-current gains
-12,531.94
and losses
Total -3,411,133.96 -
2.2.3 Difference between PRC GAAP and IFRS
√Applicable □Inapplicable
Unit: RMB Yuan
Net profit attributable to shareholders of the listed Owners’ equity attributable to shareholders of the
company listed company
Amount in the reporting Amount in the same
Closing amount Opening amount
period period of last year
According to IFRS 117,867,457.28 80,817,767.96 2,627,603,894.11 2,766,913,027.29
According to PRC GAAP 117,867,457.28 80,817,767.96 2,627,603,894.11 2,766,913,027.29
Sub-items adjusted according to IFRS and total:
Total difference between
0.00 0.00 0.00 0.00
PRC GAAP and IFRS
Explanation on difference
between PRC GAAP and No difference
IFRS
§3 Changes in Share Capital and about Shareholders
3.1 Statement of change in shares
√Applicable □Inapplicable
Unit: share
3
English Translation for Reference Only
Before the change Increase/decrease (+, - ) After the change
Turning
capital
Proportio Bonus Proportio
Amount New shares reserves Others Sub-total Amount
n (%) shares n (%)
into share
capital
I. Shares subject to 145,690,41 137,286,28
14.89% -8,404,132 -8,404,132 14.03%
trading moratorium 7 5
1. Shares held by the
state
2. Shares held by
state-owned legal
entities
3. Shares held by
other domestic 4,286,189 0.44% 4,286,189 0.44%
investors
Including: shares
held by domestic
3,942,813 0.40% 3,942,813 0.40%
non-state-owned
legal entities
Shares held by
domestic natural 343,376 0.04% 343,376 0.04%
persons
4. Shares held by 140,219,81 131,815,68
14.33% -8,404,132 -8,404,132 13.47%
foreign investors 7 5
Including: shares
131,815,68 131,815,68
held by foreign legal 13.47% 13.47%
5 5
entities
Shares held by
foreign natural 8,404,132 0.86% -8,404,132 -8,404,132 0 0.00%
persons
5. Shares held by
1,184,411 0.12% 1,184,411 0.12%
senior executives
II. Shares not subject
832,873,32 841,277,46
to trading 85.11% 8,404,132 8,404,132 85.97%
8 0
moratorium
1. RMB ordinary 616,056,42 616,056,42
62.96% 62.96%
shares 3 3
2. Domestically listed 216,816,90 225,221,03
22.16% 8,404,132 8,404,132 23.02%
foreign shares 5 7
4
English Translation for Reference Only
3. Overseas listed
foreign shares
4. Others
978,563,74 978,563,74
III. Total shares 100.00% 0 0 100.00%
5 5
3.2 Number of shares held by the top ten shareholders and the top ten
shareholders holding shares not subject to trading moratorium
Unit: share
Total number of
165,696
shareholders
Particulars about shares held by the top ten shareholders
Shareholding Total number of Shares subject to Shares pledged or
Name of shareholder Nature of shareholder
ratio (%) shares held trading moratorium held frozen
OSRAM Holding Co.,
Foreign corporation (04) 13.47% 131,815,685 131,815,685 0
Ltd.
Prosperity Lamps and
Foreign corporation (04) 10.50% 102,751,648 0 0
Components Ltd.
DBS VICKERS
(HONG KONG) LTD Foreign corporation (04) 1.37% 13,405,145 0 0
A/C CLIENTS
Taifook Securities
Company
Foreign corporation (04) 1.12% 10,916,212 0 0
Limited-Account
Client
EAST ASIA
SECURITIES
Foreign corporation (04) 0.97% 9,527,080 0 0
COMPANY
LIMITED
Foreign natural person
Zhuang Jianyi 0.86% 8,404,132 0 0
(05)
Bank of China-E Fund
Shenzhen Stock 100 Funds, wealth
Transaction management products 0.71% 6,938,693 0 0
Open-ended Index and others (06)
Fund
Bank of
Funds, wealth
China-First-Trust
management products 0.61% 5,925,152 0 0
Goodquality Life
and others (06)
Stock Fund
5
English Translation for Reference Only
Industrial and
Commercial Bank of
Funds, wealth
China- Rongtong
management products 0.56% 5,524,155 0 0
Shenzhen Stock
and others (06)
Exchange 100 Index
Stock Fund
Guangzhou Prosperity
Lamps and General domestic
0.50% 4,911,140 0 0
Components Trading cooperation (02)
Co., Ltd.
Particulars about shares held by the top ten shareholders not subject to trading moratorium
Shares not subject to trading moratorium
Name of shareholders Type of shares
held
Prosperity Lamps and Components Ltd. 102,751,648 RMB ordinary share
DBS VICKERS (HONG KONG) LTD A/C
13,405,145 Domestically listed foreign share
CLIENTS_
Taifook Securities Company Limited-Account
10,916,212 Domestically listed foreign share
Client_
EAST ASIA SECURITIES COMPANY
9,527,080 Domestically listed foreign share
LIMITED_
Zhuang Jianyi 8,404,132 Domestically listed foreign share
Bank of China-E Fund Shenzhen Stock 100
6,938,693 RMB ordinary share
Transaction Open-ended Index Fund
Bank of China-First-Trust Goodquality Life
5,925,152 RMB ordinary share
Stock Fund
Industrial and Commercial Bank of China-
Rongtong Shenzhen Stock Exchange 100 Index 5,524,155 RMB ordinary share
Stock Fund
Guangzhou Prosperity Lamps and Components
4,911,140 RMB ordinary share
Trading Co., Ltd.
Bank of China-Da Cheng Blue Chip Sustaining
4,553,267 RMB ordinary share
Stock Fund
Explanation on Among the top ten shareholders of the Company, there exists association relationship between Prosperity
associated relationship Lamps and Components Limited and Zhuang Jianyi, and they belong to acting-in-concert. Except that, it is
among the unknown whether there is any associated relationship among the any other shareholders among the top ten
above-mentioned shareholders and among the top ten shareholders not subject to moratorium, or whether there is any
shareholders or action-in-concert among them as described by the Administrative Rules on Information Disclosure about
acting-in-concert Changing of Shareholding Status.
3.3 Particulars about change of the controlling shareholder and actual controller
of the Company
6
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□Applicable √Inapplicable
§4. Particulars about Directors, Supervisors and Senior Management
4.1 Particulars about changes in shares held by directors, supervisors and senior
management
√Applicable □Inapplicable
Shares Shares
Shares held Of which: Share options
increased in decreased in Shares held Reason for
Name Office term at restricted held at
the current the current at period-end change
period-begin shares held period-end
period period
Chairman of
Zhong Xincai Board of Directors 876,206 876,206 657,153 0
& GM
Vice Chairman of
Liu Xingming Board of Directors 351,280 351,280 263,460 0
& Vice GM
Mr.Joerg
Thaele (Mr. Director 0
Tai Le)
Francis
Michael
Director 0
Piscitelli (Mr.
Pan Dali)
Ye Zaiyou Director 0
Independent
Liu Zhenping 0
director
Independent
Dou Linping 0
director
Independent
Zhang Haixia 0
Director
Jiao Zhigang Supervisor 22,880 22,880 17,160 0
Ye
Supervisor 20,560 20,560 15,420 0
Zhenghong
Yang Xudong Supervisor 3,900 3,900 2,925 0
Zhuang Rujia Supervisor 0
Zhang yingqi Supervisor 0
Xie Qing Vice GM 12,950 12,950 9,150 0
Wei Bin Vice GM 15,684 15,684 11,763 0
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Zhao Yong Vice GM 8,700 8,700 6,525 0
Zou Jianping Vice GM 0
Wang
CFO 140,013 140,013 105,010 0
Shuqiong
Zhou Company
0
Xiangfeng Secretary
§5 Report of the Board of Directors
5.1 Main businesses classified by industries or products
Unit: RMB Ten thousand
Main businesses classified according to industries
Year-on-year Year-on-year Year-on-year
Operating Gross profit rate increase/decreas increase/decreas increase/decrease
Industries or products Operating cost
income (%) e of operating e of operating of gross profit
income (%) cost (%) rate (%)
Lighting appliances and
107,389.86 80,829.78 24.73% 32.83% 31.34% 0.85%
lamps
Main businesses classified according to products
Lighting appliances and
107,389.86 80,829.78 24.73% 32.83% 31.34% 0.85%
lamps
5.2 Main businesses classified according to regions
Unit: RMB Ten thousand
Region Operating income Year-on-year increase/decrease (%)
Domestic 68,002.82 39.93%
Overseas 39,387.04 22.13%
5.3 Reasons for significant changes in main operations and its structure
□Applicable √Inapplicable
5.4 Reasons for significant changes in profitability of main operations (gross
profit ratio) than that in the last year
□Applicable √Inapplicable
5.5 Analysis to reasons for significant changes in profit breakdown compared
with the previous year
□Applicable √Inapplicable
5.6 Utilization of the raised proceeds
5.6.1 Utilization of the raised proceeds
□Applicable √Inapplicable
5.6.2 Change of projects invested with raised proceeds
□Applicable √Inapplicable
5.7 Business plan revised by the Board of Directors for the second half of the
8
English Translation for Reference Only
year
□Applicable √Inapplicable
5.8 Estimation on accumulative net profit from the beginning of the year to the
end of next reporting period to be loss probably or the warning of its significant
change compared with the corresponding period of the last year and explanation
on reason
□Applicable √Inapplicable
5.9 Explanation of the Management Team on “Non-standard Auditors’ Report”
from the Certified Public Accountants in the reporting period
□Applicable √Inapplicable
5.10 Explanation of the Board of Directors on changes and solutions of the issues
involved in “Non-standard Auditors’ Report” from the Certified Public
Accountants in the last year
□Applicable √Inapplicable
§6 Significant Events
6.1 Acquisition and sales of assets and assets restructure
6.1.1 Assets acquired
□Applicable √Inapplicable
6.1.2 Assets sold
□Applicable √Inapplicable
6.1.3 Progress of these events and its influence on the operating results and
financial status in the reporting period after the report on assets restructure or
public notice on acquisition and sales of assets being published
□Applicable √Inapplicable
6.2 Guarantees
□Applicable √Inapplicable
6.3 Credits and liabilities with related parties for non-operating purposes
□Applicable √Inapplicable
6.4 Material lawsuits and arbitrations
□Applicable √Inapplicable
6.5 Other significant events and explanation on analysis to their influences and
solutions
□Applicable √Inapplicable
6.5.1 Securities investment
√Applicable □Inapplicable
Unit: RMB Yuan
Number of Proportion in
Serial Variety of Code of Abbr. of Initial investment Closing carrying Gain/loss in the
shares held the total
No. securities securities securities amount amount reporting period
at the closing
9
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period-end securities
investment
amount (%)
Other securities investments held at the period-end 5,000,000.00 - 4,824,336.08 100.00% 0.00
Gain/loss on selling securities in the reporting
- - - - 13,971.96
period
Total 5,000,000.00 - 4,824,336.08 100% 13,971.96
Explanation on securities investments:
Other securities investments were wealth management products bought from
securities traders, which was reviewed and approved at the board session held on 25
Nov. 2010. The purchase of the said products was in strict compliance with the
Management Rules for Securities Investment of the Company.
6.5.2 Equity of other listed companies held by the Company
√Applicable □Inapplicable
Unit: RMB Yuan
Change of
Proportion in Gain/loss in
Closing owners’
Initial investment the the Accounting Stock
Stock code Stock abbr. carrying equity during
amount company’s reporting title source
amount the reporting
total equity period
period
Available-for-
80,992,172.8 -12,535,654. Additional
601818 Everbright Bank 30,828,816.00 0.06% 0.00 sale financial
0 21 issue
assets
80,992,172.8 -12,535,654.
Total 30,828,816.00 - 0.00 - -
0 21
6.5.3 Non-operating capital occupation by principal shareholders and its
affiliated enterprises and progress of debt repayment
□Applicable √Inapplicable
6.5.4 Implementation of commitments made by the Company, as well as its
shareholders and actual controller
Commitments made by the Company, its directors, supervisors, senior executives,
shareholders with an over 5% shareholding, actual controller and other stakeholders
during the reporting period, or such commitments carried down into the reporting
period:
√Applicable □Inapplicable
Commitment
Commitments Contents of the commitments Execution
maker
OSRAM Commitments made by OSRAM Holding Company Limited: 1.
Commitments made in Holding No listing or transfer may be taken within 60 months since the Being executed as
share reforms Company date when the shares of the Company held by this company obtain promised
Limited the trading right [i] or before Dec. 31, 2011 [ii] (taking the earlier
10
English Translation for Reference Only
date between [i] and [ii]). Osram would submit Shenzhen Stock
Exchange to lock up the said shares in the course of the
moratorium of trading right of the aforesaid shares after transfer
of the shares. 2. Germany OSRAM Company would purchase the
lamp products from FSL in accordance with the clauses of the
Purchase Contract on Lamp Products signed between Germany
OSRAM Company and FSL on Aug. 31, 2004. 3. As required by
FSL, OSRAM should urge Germany OSRAM Company to
provide the relevant technology abidance and skill to FSL in
accordance with the clauses and conditions negotiated between
FSL and Germany OSRAM Company.
Commitments made by OSRAM Holding Company Limited and
Prosperity Lamps and Components Limited: 1. Within four years
after completion of the share reform and transfer procedure, a
profit distribution plan would be proposed in the Annual
Shareholders’ General Meeting of FSL, and the said two
companies would vote the affirmative votes on the plan, in which
the proportion of profit distribution would not be less than 65% of
profit available for distribution realized by FSL in that year. 2. In
order to maintain stability of FSL’s Management Team, OSRAM
and Hong Kong Prosperity undertook: they would exercise the
voting right in the Board session and the Shareholders’ General
Meeting of FSL after the completion of share transfer to support
continually Mr. Zhong Xincai to take the post of Chairman of the
Board, so as to ensure that the existing management team
remained unchanged basically within three years, but under the
conditions that the existing management team should not give a
poorer performance to produce adverse impact on FSL’s business
performance.
Commitments made in
acquisition reports or
reports on equity
changes
Commitments made in
significant asset
reorganization
Commitments made in
share issuance
Other commitments
(including
supplementary ones)
6.5.5 Pre-plan of the Board of Directors for profit distribution or turning capital
reserves into share capital
11
English Translation for Reference Only
□Applicable √Inapplicable
6.5.6 Items of other comprehensive income
Unit: RMB Yuan
Item Reporting period Same period of last year
1. Profits/(losses) from available-for-sale financial assets -14,747,828.48
Less: Effects on income tax from available-for-sale
-2,212,174.27
financial assets
Net amount transferred into profit and loss in the current
period that was recognized into other comprehensive
income in prior periods
Subtotal -12,535,654.21
2. Interests in the investee entities’ other comprehensive
income as per equity method
Less: Effects on income tax from the interests in the
investee entities’ other comprehensive income as per equity
method
Net amount transferred into profit and loss in the current
period that was recognized into other comprehensive
income in prior periods
Subtotal
3. Profits/(losses) from cash flow hedging instrument
Less: Effects on income tax from cash flow hedging
instrument
Net amount transferred into profit and loss in the current
period that was recognized into other comprehensive
income in prior period
The adjustment value that is the converted initial
recognition amount of arbitrage project
Subtotal
4. Translation difference of foreign currency financial
statements
Less: Net value of disposal of oversea operations that were
recognized into current profit and loss
Subtotal
5. Other
Less: Effects on income tax from the others that were
included into other comprehensive income
Net amount transferred into profit and loss in the current
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period that was recognized into other comprehensive
income in prior periods
Subtotal
Total -12,535,654.21 0.00
6.6 Researches, interviews and visits received during the reporting period
Main discussion and materials provided
Time Place Way of reception Visitor
by the Company
Production and operation of the
18 Apr. 2011 The Company Filed research Hwabao Securities
Company
Production and operation of the
28 Apr. 2011 The Company Filed research Sealand Securities
Company
Production and operation of the
28 Apr. 2011 The Company Filed research SWS Research
Company
Shenzhen Hengxun
Production and operation of the
28 Apr. 2011 The Company Filed research Investment Consulting
Company
Co., Ltd.
Production and operation of the
28 Apr. 2011 The Company Filed research Hongyuan Securities
Company
Shenzhen Changrun Asset Production and operation of the
28 Apr. 2011 The Company Filed research
Management Co., Ltd. Company
Minsheng Royal Fund Production and operation of the
28 Apr. 2011 The Company Filed research
Management Co., Ltd. Company
Guangdong New Value Production and operation of the
28 Apr. 2011 The Company Filed research
Investment Co., Ltd. Company
Production and operation of the
28 Apr. 2011 The Company Filed research GTJA Allianz Funds
Company
Production and operation of the
28 Apr. 2011 The Company Filed research Beijing Fuhua Securities
Company
Production and operation of the
28 Apr. 2011 The Company Filed research GF Securities
Company
Jiangsu Ruihua
Production and operation of the
28 Apr. 2011 The Company Filed research Investment &
Company
Development Co., Ltd.
Production and operation of the
28 Apr. 2011 The Company Filed research Essence Securities
Company
China Nature Asset Production and operation of the
28 Apr. 2011 The Company Filed research
Management Co., Ltd. Company
Shenzhen Shangcheng Production and operation of the
28 Apr. 2011 The Company Filed research
Asset Management Ltd. Company
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Shenzhen Goldstone Asset Production and operation of the
28 Apr. 2011 The Company Filed research
Management Ltd. Company
Production and operation of the
28 Apr. 2011 The Company Filed research Gao Hua Securities
Company
28 Apr. 2011 The Company Filed research Founder Securities Production and operation of the
Company and operation of the
Production
28 Apr. 2011 The Company Filed research Hwabao Securities
Company
Tian Hong Asset Production and operation of the
20 May 2011 The Company Filed research
Management Co., Ltd. Company
Production and operation of the
8 Jun. 2011 The Company Filed research China Securities Co., Ltd.
Company
§7 Financial Report
7.1 Auditing opinions
Financial Report √Un-audited □Audited
7.2 Financial statements
7.2.1 Balance Sheet
Prepared by Foshan Electrical and Lighting Co., Ltd. 30 Jun. 2011 Unit: RMB Yuan
Closing balance Opening balance
Items
Consolidation The Company Consolidation The Company
Current Assets:
Monetary funds 547,799,984.61 290,544,862.94 711,853,632.95 681,198,634.58
Settlement reserves
Intra-group lendings
Transactional financial assets 4,824,336.08 4,824,336.08 38,287,211.70 5,097,211.70
Notes receivable 95,701,617.96 91,132,017.96 79,964,518.10 74,911,048.10
Accounts receivable 340,328,640.68 349,636,837.08 317,185,505.67 332,564,283.12
Accounts paid in advance 102,272,435.13 87,150,608.45 29,367,891.60 18,230,151.84
Premiums receivable
Reinsurance premiums
receivable
Receivable reinsurance contract
reserves
Interest receivable
Dividend receivable 14,968,946.03 7,228,228.30
Other accounts receivable 15,780,890.52 59,511,046.61 20,254,086.70 62,118,207.87
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Financial assets purchased
under agreements to resell
Inventories 464,795,681.63 415,736,031.02 365,413,882.78 339,343,349.75
Non-current assets due within 1
year
Other current assets
Total current assets 1,571,503,586.61 1,313,504,686.17 1,562,326,729.50 1,520,691,115.26
Non-current assets:
Loans by mandate and
advances granted
Available-for-sale financial
80,992,172.80 80,992,172.80 95,740,001.28 95,740,001.28
assets
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 454,723,766.01 820,200,766.01 443,373,689.60 598,850,689.60
Investing property
Fixed assets 632,893,846.71 542,958,281.19 683,122,864.12 591,335,800.42
Construction in progress 123,045,179.20 84,943,988.19 100,914,324.93 72,198,935.48
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 216,775,899.37 199,289,355.18 220,607,352.76 202,020,835.92
R&D expense
Goodwill
Long-term deferred expenses
Deferred income tax assets 22,330,785.72 22,394,175.90 22,462,498.27 22,323,210.28
Other non-current assets
Total of non-current assets 1,530,761,649.81 1,750,778,739.27 1,566,220,730.96 1,582,469,472.98
Total assets 3,102,265,236.42 3,064,283,425.44 3,128,547,460.46 3,103,160,588.24
Current liabilities:
Short-term borrowings
Borrowings from Central Bank
Customer bank deposits and
due to banks and other financial
institutions
15
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Intra-group borrowings
Transactional financial
liabilities
Notes payable
Accounts payable 271,514,170.73 280,249,143.95 192,615,874.39 214,720,055.92
Accounts received in advance 16,820,927.52 42,775,364.41 22,598,645.79 37,156,710.99
Financial assets sold for
repurchase
Handling charges and
commissions payable
Employee’s compensation
42,141,871.53 42,141,871.53 54,092,566.23 53,759,277.53
payable
Tax payable 39,888,211.52 38,914,576.10 -5,013,034.54 -3,412,797.35
Interest payable
Dividend payable 3,415,262.58
Other accounts payable 35,333,182.19 34,351,162.96 30,383,813.76 28,785,087.45
Reinsurance premiums payable
Insurance contract reserves
Payables for acting trading of
securities
Payables for acting
underwriting of securities
Non-current liabilities due
within 1 year
Other current liabilities
Total current liabilities 409,113,626.07 438,432,118.95 294,677,865.63 331,008,334.54
Non-current liabilities:
Long-term borrowings
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities 7,524,503.52 7,524,503.52 9,736,677.79 9,736,677.79
Other non-current liabilities 11,815,274.99 10,471,941.67 11,951,441.65 10,556,441.65
Total non-current liabilities 19,339,778.51 17,996,445.19 21,688,119.44 20,293,119.44
Total liabilities 428,453,404.58 456,428,564.14 316,365,985.07 351,301,453.98
16
English Translation for Reference Only
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share
978,563,745.00 978,563,745.00 978,563,745.00 978,563,745.00
capital)
Capital reserves 632,711,120.32 629,610,293.38 645,246,774.53 642,145,947.59
Less: Treasury stock
Specific reserves
Surplus reserves 555,433,925.97 555,433,925.97 555,433,925.97 555,433,925.97
Provisions for general risks
Retained profits 460,895,102.82 444,246,896.95 587,668,581.79 575,715,515.70
Foreign exchange difference
Total equity attributable to owners
2,627,603,894.11 2,607,854,861.30 2,766,913,027.29 2,751,859,134.26
of the Company
Minority interests 46,207,937.73 45,268,448.10
Total owners’ equity 2,673,811,831.84 2,607,854,861.30 2,812,181,475.39 2,751,859,134.26
Total liabilities and owners’
3,102,265,236.42 3,064,283,425.44 3,128,547,460.46 3,103,160,588.24
equity
Person in charge of the Company: Zhong Xincai
Person in charge of accounting affairs: Zhong Xincai
Person in charge of accounting firm: Wang Shuqiong
7.2.2 Income Statement
Prepared by Foshan Electrical and Lighting Co., Ltd. Jan.-Jun. 2011 Unit: RMB Yuan
Reporting period Same period of last year
Items
Consolidation The Company Consolidation The Company
I. Total operating revenues 1,095,319,303.24 1,082,909,469.69 824,360,344.65 753,152,624.27
Including: Sales income 1,095,319,303.24 1,082,909,469.69 824,360,344.65 753,152,624.27
Interest income
Premium income
Handling charge and
commission income
II. Total operating cost 944,575,593.83 952,892,092.24 724,146,678.01 655,742,434.86
Including: Cost of sales 821,116,200.01 840,361,496.35 625,470,314.21 571,479,580.10
Interest expenses
17
English Translation for Reference Only
Handling charge and
commission expenses
Surrenders
Net claims paid
Net amount withdrawn for
the insurance contract reserve
Expenditure on policy
dividends
Reinsurance premium
Taxes and associate
11,860,578.51 10,164,480.35 7,228,353.99 6,408,030.82
charges
Selling and distribution
52,110,105.61 49,745,840.51 39,231,617.50 34,157,925.91
expenses
Administrative expenses 59,191,173.51 52,403,223.14 55,859,131.20 42,439,164.15
Financial expenses -1,053,651.60 -584,697.22 -3,457,326.40 -3,009,297.89
Asset impairment loss 1,351,187.79 801,749.11 -185,412.49 4,267,031.77
Add: Gain/(loss) from change in
-162,575.62 -162,575.62
fair value (“-” means loss)
Gain/(loss) from investment
1,051,170.64 9,020,116.66 178,118.10 4,876,871.01
(“-” means loss)
Including: share of profits in
associates and joint ventures
Foreign exchange gains (“-”
means loss)
III. Business profit (“-” means
151,632,304.43 138,874,918.49 100,391,784.74 102,287,060.42
loss)
Add: non-operating income 1,600,358.50 1,479,708.43 1,531,640.51 1,231,323.31
Less: non-operating expense 5,864,904.95 5,080,111.93 2,529,715.16 2,524,715.16
Including: loss from non-current
asset disposal
IV. Total profit (“-” means loss) 147,367,757.98 135,274,514.99 99,393,710.09 100,993,668.57
Less: Income tax expense 25,145,548.48 22,102,197.49 18,058,926.42 15,642,954.93
V. Net profit (“-” means loss) 122,222,209.50 113,172,317.50 81,334,783.67 85,350,713.64
Attributable to owners of the
117,867,457.28 113,172,317.50 80,817,767.96 85,350,713.64
Company
Minority shareholders’
4,354,752.22 517,015.71 0.00
income
18
English Translation for Reference Only
VI. Earnings per share
(I) basic earnings per share 0.12 0.08
(II) diluted earnings per
0.12 0.08
share
Ⅶ. Other comprehensive incomes -12,535,654.21 0.00
Ⅷ. Total comprehensive incomes 109,686,555.29 113,172,317.50 81,334,783.67 85,350,713.64
Attributable to owners of the
105,331,803.07 113,172,317.50 80,817,767.96 85,350,713.64
Company
Attributable to minority
4,354,752.22 517,015.71
shareholders
For any business combination under the same control that occurred in the reporting
period, the combined party realized zero net profit before the combination.
Person in charge of the Company: Zhong Xincai
Person in charge of accounting affairs: Zhong Xincai
Person in charge of accounting firm: Wang Shuqiong
7.2.3 Cash Flow Statement
Prepared by Foshan Electrical and Lighting Co., Ltd. Jan.-Jun. 2011 Unit: RMB Yuan
Reporting period Same period of last year
Items
Consolidation The Company Consolidation The Company
I. Cash flows from operating
activities:
Cash received from sale of
commodities and rendering of 1,167,237,804.52 1,123,579,807.51 913,436,533.36 780,869,364.36
service
Net increase of deposits from
customers and dues from banks
Net increase of loans from the
central bank
Net increase of funds borrowed
from other financial institutions
Cash received from premium of
original insurance contracts
Net cash received from
19
English Translation for Reference Only
reinsurance business
Net increase of deposits of
policy holders and investment
fund
Net increase of disposal of
tradable financial assets
Cash received from interest,
handling charges and
commissions
Net increase of intra-group
borrowings
Net increase of funds in
repurchase business
Tax refunds received 42,005,225.14 41,757,239.95 9,373,907.90 9,103,907.90
Other cash received relating to
7,810,787.51 8,668,462.54 9,491,739.21 9,424,471.25
operating activities
Subtotal of cash inflows from
1,217,053,817.17 1,174,005,510.00 932,302,180.47 799,397,743.51
operating activities
Cash paid for goods and
856,308,150.90 852,185,589.05 633,133,201.91 527,210,282.87
services
Net increase of customer
lendings and advances
Net increase of funds deposited
in the central bank and amount
due from banks
Cash for paying claims of the
original insurance contracts
Cash for paying interest,
handling charges and
commissions
Cash for paying policy
dividends
Cash paid to and for employees 142,691,769.52 123,908,432.96 128,171,951.00 113,847,318.65
Various taxes paid 81,501,927.12 64,089,642.55 61,532,232.54 50,056,203.44
Other cash payment relating to
62,083,411.78 66,260,891.21 33,859,096.29 33,281,845.21
operating activities
Subtotal of cash outflows from
1,142,585,259.32 1,106,444,555.77 856,696,481.74 724,395,650.17
operating activities
Net cash flows from operating 74,468,557.85 67,560,954.23 75,605,698.73 75,002,093.34
20
English Translation for Reference Only
activities
II. Cash flows from investing
activities:
Cash received from withdrawal
33,396,800.00 206,800.00 1,193,874.04 1,193,874.04
of investments
Cash received from return on
2,411,455.42 2,411,455.42 178,118.10 4,840,571.97
investments
Net cash received from disposal
of fixed assets, intangible assets 100,000.00
and other long-term assets
Net cash received from disposal
of subsidiaries or other business
units
Other cash received relating
to investing activities
Subtotal of cash inflows
35,908,255.42 2,618,255.42 1,371,992.14 6,034,446.01
from investing activities
Cash paid to acquire fixed
assets, intangible assets and other 39,458,297.28 16,092,517.78 29,406,644.35 22,726,409.89
long-term assets
Cash paid for investment 12,806,800.00 222,806,800.00 1,036,005.00 1,036,005.00
Net increase of pledged loans
Net cash paid to acquire
subsidiaries and other business
units
Other cash payments relating to
investing activities
Subtotal of cash outflows from
52,265,097.28 238,899,317.78 30,442,649.35 23,762,414.89
investing activities
Net cash flows from investing
-16,356,841.86 -236,281,062.36 -29,070,657.21 -17,727,968.88
activities
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Including: Cash received from
minority shareholder investments
by subsidiaries
Cash received from
21
English Translation for Reference Only
borrowings
Cash received from issuance
of bonds
Other cash received relating to
financing activities
Subtotal of cash inflows from
financing activities
Repayment of borrowings
Cash paid for interest
expenses and distribution of 221,508,538.40 221,508,538.40 202,806,459.02 201,781,832.57
dividends or profit
Including: dividends or profit
paid by subsidiaries to minority
shareholders
Other cash payments relating
to financing activities
Sub-total of cash outflows from
221,508,538.40 221,508,538.40 202,806,459.02 201,781,832.57
financing activities
Net cash flows from financing
-221,508,538.40 -221,508,538.40 -202,806,459.02 -201,781,832.57
activities
IV. Effect of foreign exchange
rate changes on cash and cash -428,597.63 -425,125.11 -712,700.32 -712,700.32
equivalents
V. Net increase in cash and cash
-163,825,420.04 -390,653,771.64 -156,984,117.82 -145,220,408.43
equivalents
Add: Opening balance of
711,625,404.65 681,198,634.58 1,036,582,265.88 927,931,735.27
cash and cash equivalents
VI. Closing balance of cash and
547,799,984.61 290,544,862.94 879,598,148.06 782,711,326.84
cash equivalents
Person in charge of the Company: Zhong Xincai
Person in charge of accounting affairs: Zhong Xincai
Person in charge of accounting firm: Wang Shuqiong
22
English Translation for Reference Only
7.2.4 Consolidated Statement of Changes in Owners’ Equity
Prepared by Foshan Electrical and Lighting Co., Ltd. For the first half year of 2011 Unit: RMB Yuan
Amount for the reporting period Amount for the previous year
Equity attributable to owners of the Company Equity attributable to owners of the Company
Paid-up Total Paid-up Total
Items Minority Minority
Less: General Less: General
capital Capital Specific Surplus Retained owners’ capital Capital Specific Surplus Retained owners’
treasury risk Others interests treasury risk Others interests
(or share reserve reserve reserve profit equity (or share reserve reserve reserve profit equity
stock reserve stock reserve
capital) capital)
I. Balance at
978,563, 645,246, 555,433, 587,668, 45,268,4 2,812,18 978,563, 586,925, 528,474, 566,135, 45,896,9 2,705,99
the end of the
745.00 774.53 925.97 581.79 48.10 1,475.39 745.00 954.53 746.92 541.76 86.77 6,974.98
previous year
Add:
change of
accounting
policy
Correction
of errors in
previous
periods
Other
II. Balance at
978,563, 645,246, 555,433, 587,668, 45,268,4 2,812,18 978,563, 586,925, 528,474, 566,135, 45,896,9 2,705,99
the beginning
745.00 774.53 925.97 581.79 48.10 1,475.39 745.00 954.53 746.92 541.76 86.77 6,974.98
of the year
23
English Translation for Reference Only
III. Increase/
decrease of
amount in the -12,535, -126,773 939,489. -138,369 58,320,8 26,959,1 21,533,0 -628,538 106,184,
year (“-” 654.21 ,478.97 63 ,643.55 20.00 79.05 40.03 .67 500.41
means
decrease)
(I) Net 117,867, 4,354,75 122,222, 263,776, 7,321,20 271,097,
profit 457.28 2.22 209.50 242.98 2.98 445.96
(II) Other
-12,535, -12,535, 55,185,2 55,185,2
comprehensiv
654.21 654.21 25.24 25.24
e incomes
Subtotal of -12,535, 117,867, 4,354,75 109,686, 55,185,2 263,776, 7,321,20 326,282,
(I) and (II) 654.21 457.28 2.22 555.29 25.24 242.98 2.98 671.20
(III)
Capital paid
3,135,59 4,296,46 7,432,05
in and
4.76 1.84 6.60
reduced by
owners
1.
16,510,2 16,510,2
Capital paid
97.45 97.45
in by owners
2.
Amounts of
share-based
24
English Translation for Reference Only
payments
recognized in
owners’
equity
3,135,59 -12,213, -9,078,2
3. Others
4.76 835.61 40.85
(IV) Profit -244,640 -3,415,2 -248,056 26,959,1 -242,243 -12,246, -227,530
distribution ,936.25 62.59 ,198.84 79.05 ,202.95 203.49 ,227.39
1.
Appropriation 26,959,1 -26,959,
s to surplus 79.05 179.05
reserves
2.
Appropriation
s to general
risk
provisions
3.
Appropriation
-244,640 -3,415,2 -248,056 -215,284 -12,246, -227,530
s to owners
,936.25 62.59 ,198.84 ,023.90 203.49 ,227.39
(or
shareholders)
4. Other
(V)
25
English Translation for Reference Only
Internal
carry-forward
of owners’
equity
1. New
increase of
capital (or
share capital)
from capital
public
reserves
2. New
increase of
capital (or
share capital)
from surplus
reserves
3.
Surplus
reserves for
making up
losses
4. Other
(Ⅵ) Specific
26
English Translation for Reference Only
reserve
1.
Withdrawn
for the period
2. Used
in the period
(Ⅶ) Other
IV. Closing 978,563, 632,711, 555,433, 460,895, 46,207,9 2,673,81 978,563, 645,246, 555,433, 587,668, 45,268,4 2,812,18
balance 745.00 120.32 925.97 102.82 37.73 1,831.84 745.00 774.53 925.97 581.79 48.10 1,475.39
Person in charge of the Company: Zhong Xincai
Person in charge of accounting affairs: Zhong Xincai
Person in charge of accounting firm: Wang Shuqiong
7.2.5 Statement of Change in Owners’ Equity of the Company
Prepared by Foshan Electrical and Lighting Co., Ltd. For the first half year of 2011 Unit: RMB Yuan
Amount for the reporting period Amount for the previous year
Paid-up Paid-up
Less: General Total Less: General Total
Items capital Capital Specific Surplus Retained capital Capital Specific Surplus Retained
treasury risk owners’ treasury risk owners’
(or share reserve reserve reserve profit (or share reserve reserve reserve profit
stock reserve equity stock reserve equity
capital) capital)
I. Balance at the end of the 978,563,7 642,145,9 555,433,9 575,715,5 2,751,859 978,563,7 586,971,4 528,474,7 548,366,9 2,642,376
27
English Translation for Reference Only
previous year 45.00 47.59 25.97 15.70 ,134.26 45.00 40.10 46.92 28.12 ,860.14
Add: change of accounting
policy
Correction of errors in
previous periods
Other
II. Balance at the beginning 978,563,7 642,145,9 555,433,9 575,715,5 2,751,859 978,563,7 586,971,4 528,474,7 548,366,9 2,642,376
of the year 45.00 47.59 25.97 15.70 ,134.26 45.00 40.10 46.92 28.12 ,860.14
III. Increase/ decrease of
-12,535,6 -131,468, -144,004, 55,174,50 26,959,17 27,348,58 109,482,2
amount in the year (“-”
54.21 618.75 272.96 7.49 9.05 7.58 74.12
means decrease)
113,172,3 113,172,3 269,591,7 269,591,7
(I) Net profit
17.50 17.50 90.53 90.53
(II) Other comprehensive -12,535,6 -12,535,6 55,174,50 55,174,50
incomes 54.21 54.21 7.49 7.49
-12,535,6 113,172,3 100,636,6 55,174,50 269,591,7 324,766,2
Subtotal of (I) and (II)
54.21 17.50 63.29 7.49 90.53 98.02
(III) Capital paid in and
reduced by owners
1. Capital paid in by
owners
2. Amounts of
share-based payments
28
English Translation for Reference Only
recognized in owners’ equity
3. Others
-244,640, -244,640, 26,959,17 -242,243, -215,284,
(IV) Profit distribution
936.25 936.25 9.05 202.95 023.90
1. Appropriations to 26,959,17 -26,959,1
surplus reserves 9.05 79.05
2. Appropriations to
general risk provisions
3. Appropriations to -244,640, -244,640, -215,284, -215,284,
owners (or shareholders) 936.25 936.25 023.90 023.90
4. Other
(V) Internal carry-forward
of owners’ equity
1. New increase of
capital (or share capital) from
capital public reserves
2. New increase of
capital (or share capital) from
surplus reserves
3. Surplus reserves for
making up losses
4. Other
29
English Translation for Reference Only
(Ⅵ) Specific reserve
1. Withdrawn for the
period
2. Used in the period
(Ⅶ) Other
978,563,7 629,610,2 555,433,9 444,246,8 2,607,854 978,563,7 642,145,9 555,433,9 575,715,5 2,751,859
IV. Closing balance
45.00 93.38 25.97 96.95 ,861.30 45.00 47.59 25.97 15.70 ,134.26
Person in charge of the Company: Zhong Xincai
Person in charge of accounting affairs: Zhong Xincai
Person in charge of accounting firm: Wang Shuqiong
30
English Translation for Reference Only
7.3 Notes to the financial statements
7.3.1 Should there be any changes in accounting policies, accounting estimates
and correction of accounting errors, give the relevant contents, reasons and the
amount influenced.
□Applicable √Inapplicable
7.3.2 Should there be any changes in the consolidation scope of the financial
statements, explain the reasons and the amount influenced.
√Applicable □Inapplicable
—Guangdong Fozhao New Light Sources Technology Co., Ltd. is a limited company
jointly incorporated by the Company and Bright Technology & Venture Limited. It
obtained the business license on 7 Jun. 2011. The Company holds a 55% stake in it,
which has been included in the consolidated financial statements by the Company
since the incorporation.
—Guangdong Fozhao Financial Leasing Co., Ltd. is a company of limited liability
incorporated by the Company. It obtained the business license on 30 May 2011 and
has a registered capital of RMB 200 million. The Company holds 100% of its equity.
And it has been included in the consolidated financial statements by the Company
since the incorporation.
7.3.3 If a non-standard auditor’s report is issued, list notes to involved matters.
□Applicable √Inapplicable
Board of Directors of
Foshan Electrical and Lighting Co. Ltd.
15 Aug. 2011
31
