The First Quarterly Report for 2012 of Foshan Electrical and Lighting Co., Ltd.
Foshan Electrical and Lighting Co., Ltd
The First Quarterly Report for 2012
§1 Important Notice
1.1 The Board of Directors, the Supervisory Committee as well as directors, supervisors and senior
management staffs of Foshan Electrical and Lighting Co., Ltd. (hereinafter referred to as “the
Company”) individually and jointly accepted responsibility for the correctness, accuracy and
completeness of the contents of this report and confirmed that there was no false information,
misleading statement or material omissions.
1.2 The first quarterly financial report has not been audited by an accounting firm.
1.3 Zhong Xincai, the company principal and the person-in-charge of the accounting work, and
Wang Shuqiong, the person-in-charge of the accounting department (the accounting principal)
hereby ensure that the financial statements enclosed in this report is factual and complete.
§2 Company Profile
2.1 Main accounting data and financial indices
Unit: RMB Yuan
At the end of the Increase/decrease
At the end of last year
reporting period (%)
Total assets (RMB Yuan) 3,298,622,971.27 3,155,554,351.27 4.53%
Owner’s equity attributable to
shareholders of listed company (RMB 2,847,203,674.09 2,790,878,659.33 2.02%
Yuan)
Total share capital (Share) 978,563,745.00 978,563,745.00 0.00%
Net asset per share attributable to
shareholders of listed company (RMB 2.91 2.85 2.11%
Yuan/share)
Increase/decrease
Reporting period Same period of last year
(%)
Sales turnover (RMB Yuan) 491,445,026.36 519,151,820.87 -5.34%
Net profit attributable to shareholders of
56,925,457.34 67,639,896.12 -15.84%
listed company (RMB Yuan)
Net cash flow arising from operating
154,906,190.86 40,103,514.78 286.27%
activities (RMB Yuan)
Net cash flow per share arising from
0.16 0.04 300.00%
operating activities (RMB Yuan/share)
Basic earnings per share (RMB
0.06 0.07 -14.29%
Yuan/share)
Diluted earnings per share (RMB
0.06 0.07 -14.29%
Yuan/share)
Weighted average return on equity (%) 2.00％ 2.39％ -0.39％
Weighted average return on equity after
deducting extraordinary gains and losses 1.87 2.39％ -0.52％
(%)
Items of non-recurring gains and losses
√Applicable □ Inapplicable
Unit: RMB Yuan
From the year-begin to the Remark (E.g.
Non-recurring gains and losses
end of the reporting period applicable)
Gains and losses arising from disposal of non-current assets -98,980.60
Government subsidies recorded in gains and losses of the
161,000.00
current period, except for those closely related to normal
1
The First Quarterly Report for 2012 of Foshan Electrical and Lighting Co., Ltd.
business of the Company, acquired in the ordinary course of
business or granted continuously in certain standard quota
according to relevant national laws and regulations
Funds occupation fee charged from non-financial enterprises
112,094.88
and recorded in gains and losses of the current period
Profits generated when the enterprise’s investment cost
acquired form subsidiaries, affiliated enterprises, and joint
ventures is less than the to-be-enjoyed fair value of 0.00
identifiable net assets of invested units during the investment
period
Gains and losses of non-monetary assets exchange 0.00
Gains and losses through entrusting others to invest or
0.00
manage assets
Assets impairment provisions withdrawn because of force
0.00
majeure, for example, natural disaster
Debt restructuring gains and losses 0.00
Company restructuring expenses such as employee
0.00
placement and integration costs
Gains and losses exceeding the fair value and arising from
0.00
transactions of unfair prices
Current net profit or loss from the beginning of the period to
the date of merge for the subsidiary resulted from the merge 0.00
of enterprises under the same control
Profit or loss generated from the matters which are not
0.00
related to the Company’s normal operation or contingency
Except for effective hedging related to normal business of
the Company, there are gains and losses arising from change
in fair value generated from held transactional financial
assets and transactional financial liabilities, and invest 49,786.75
income arising from disposal of transactional financial
assets, transactional financial liabilities, and financial assets
available for sale
Reversal of impairment provisions of accounts receivable
0.00
separately tested for impairment test
Gains and losses arising from entrusted external loans 0.00
Gains and losses arising from change in fair value of
investment real estates subsequently measured by fair value 0.00
mode
Impact on current gains and losses by one-time adjustment
over current gains and losses according to laws and 0.00
regulations of tax and accounting
Entrusting fee incomes from entrust operation 0.00
Other non-operating income and expense other than
1,074.28
abovementioned
Other non-recurring gains and losses in line with the
0.07
definition of profit and loss items
Minority interests effects 0.00
Income tax effects -34,404.05
Total 190,571.33 -
2.2 Statement on total number of shareholders and shares held by the top ten shareholders
not subject to trading moratorium
Unit: share
Total number of shareholders at the end of
157874
the reporting period
Shares held by the top ten tradable-share-holders not subject to trading moratorium
2
The First Quarterly Report for 2012 of Foshan Electrical and Lighting Co., Ltd.
Tradable shares not subject to
Full name of shareholders trading moratorium held at the Categories
period-end
PROSPERITY LAMPS &
102,751,648 RMB ordinary share
COMPONENTS LIMITED
DBS VICKERS (HONG KONG) LTD
13,415,143 Domestic listed foreign share
A/C CLIENTS
TAIFOOK SECURITIES COMPANY
10,906,212 Domestic listed foreign share
LIMITED-ACCOUNT CLIENT
EAST ASIA SECURITIES COMPANY
9,527,080 Domestic listed foreign share
LIMITED
BANK OF CHINA -E FUND
SHENZHEN STOCK 100 EXCHANGE 9,192,695 RMB ordinary share
TRADE FUND
ZHUANG JIANYI 8,404,132 RMB ordinary share
INDUSTRIAL AND COMMERCIAL
BANK OF CHINA-RONGTONG
5,924,419 RMB ordinary share
SECURITIES SZSE 100 INDEX
INVESTMENT FUND
GUANGZHOU PROSPERITY LAMPS
4,911,140 RMB ordinary share
& COMPONENTS TRADE CO., LTD.
NIHK-CUSTOMERS’ SEGREGATED
3,126,799 Domestic listed foreign share
ACCOUNT
ZHAO XIYI 3,100,000 RMB ordinary share
§3 Significant Events
3.1 Significant changes in major accounting data, financial highlights and reasons for these
changes
√Applicable □Non-applicable
1. Significant changes of the balance sheet items and reasons for the said changes
1) Prepayments at the end of the reporting period increased 40.03% over the year-begin, which was
mainly due to increase of prepayments for materials.
2) Other receivables at the end of the reporting period decreased 44.90% over the year-begin, which
was mainly because previous accounts receivable were cleared.
3) Accounts payable at the end of the reporting period increased 40.44% over the year-begin, which
was mainly due to increase of accounts payable for materials.
4) Accounts received in advance at the end of the reporting period decreased 83.97% over the
year-begin, which was mainly because amounts received in advance from customers for
procurements decreased.
5) Payroll payable at the end of the reporting period decreased 38.24% over the year-begin, which
was mainly because the bonuses for last year were granted in this quarter.
6) Tax payable at the end of the reporting period increased 2189.52% over the year-begin, which
was mainly because tax payable increased.
2. Significant changes of the income statement items and reasons for the said changes
1) Financial expense for the reporting period decreased 272.82% over the same period of last year,
which was mainly because foreign exchange loss decreased.
3. Significant changes of the cash flow statement items and reasons for the said changes
1) Net cash flows from operating activities for the reporting period increased 286.27%, which was
mainly because the cash paid for goods and services decreased.
2) Net cash flows from investing activities for the reporting period decreased 54.84%, which was
mainly because the cash paid to acquire fixed assets decreased.
3
The First Quarterly Report for 2012 of Foshan Electrical and Lighting Co., Ltd.
3.2 Process of significant events and influence, as well as analysis and explanation on resolving
proposal
3.2.1 Non-standard opinion
□Applicable √Inapplicable
3.2.2 Fund supply for controlling shareholders or related parties of the Company and external
guarantee with violation against regulated procedures
□Applicable √Inapplicable
3.2.3 Signing and performance of significant contracts of routine operation
□Applicable √Inapplicable
3.2.4 Others
□Applicable √Inapplicable
3.3. Execution of committed events of the Company, shareholders, and actual controllers
The following committed events of related parties such as listed companies, directors, supervisors,
and senior management staffs of listed companies, shareholders holding over 5% equity of the
Company, as well as the Company’s actual controllers in the reporting period or lasting to the
reporting period
□Applicable √Inapplicable
3.4 Warnings of possible loss or large-margin change of the accumulated net profit made
during the period from the beginning of the year to the end of the next report period
compared with the same period of the last year according to prediction, as well as
explanations on the reasons
□Applicable √Inapplicable
3.5 Other significant events need to be explained
3.5.1 Securities investment
√Applicable □Inapplicable
Proportion in
total
Initial Number of
securities Gains/losses in
Securities Short form of investment shares held at Book value at
No. Type of securities investment at the reporting
code securities amount the the period-end
the period
(RMB Yuan) period-end
period-end
(%)
Other securities investments held at the period-end 5,000,000.00 - 4,147,152.97 100.00% 0.00
Gains and losses on securities investments sold in the
- - - - 0.00
reporting period
Total 5,000,000.00 - 4,147,152.97 100% 0.00
Explanation to the securities investment:
Other securities investment refers to the securities broker wealth management products which were acquired upon
review and approval of the Board of Directors on 25 Nov. 2010, with the acquisition procedure in strict
compliance with the Company’s Management Rules for Securities Investments.
3.5.2 Reception of research, interviews and visits in the reporting period
Main discussion and materials
Time Place Way of reception Type of visitor Visitor
provided by the Company
3 Feb. 2012 The Company Field research organization Founder Securities
Recent operation of the Company
Co., Ltd.
3.6 Derivative Investment
□Applicable √Inapplicable
4
The First Quarterly Report for 2012 of Foshan Electrical and Lighting Co., Ltd.
3.6.1 Derivatives held as at the end of the report period
□Applicable √Inapplicable
§4 Attachments
4.1 Balance sheet
Prepared by Foshan Electrical and Lighting Co., Ltd. 31 Mar. 2012 Unit: RMB Yuan
Closing balance Opening balance
Item
Consolidation The Company Consolidation The Company
Current assets:
Monetary funds 836,369,876.58 561,887,678.23 690,691,751.15 412,626,723.50
Settlement fund reserve
Dismantle fund
Transaction financial asset 4,147,152.97 4,147,152.97 4,097,366.22 4,097,366.22
Notes receivable 120,534,460.43 115,750,404.43 120,417,089.71 117,057,089.71
Account receivable 345,056,233.66 351,745,892.70 300,223,854.32 321,717,684.58
Account paid in advance 57,456,988.88 40,887,411.78 41,032,860.94 19,337,394.94
Premium receivables
Receivables from reinsurers
Reinsurance contract reserve
receivables
Interest receivable 506,347.11
Dividend receivable
Other account receivable 10,387,009.11 45,693,336.06 18,851,280.96 61,235,503.93
Financial assets purchased
under agreements to resell
Inventories 454,395,460.00 399,129,726.82 493,613,449.06 441,232,800.79
Non-current assets due
within 1 year
Other current assets
Total current assets 1,828,347,181.63 1,519,241,602.99 1,669,433,999.47 1,377,304,563.67
Non-current assets:
Loans and advance
Available for sale financial
67,108,288.80 67,108,288.80 67,814,691.84 67,814,691.84
assets
Held to maturity investments
Long-term account
receivable
Long-term equity
446,372,865.19 816,849,865.19 447,024,125.94 817,501,125.94
investment
Investing property
Fixed asset 620,504,438.61 524,727,162.65 643,078,677.62 544,553,576.11
Project in construction 97,734,357.24 47,064,888.38 88,017,369.74 41,158,543.29
Engineering material
Fixed asset disposal
Bearer biological asset
Oil assets
Intangible assets 217,505,590.08 198,152,964.89 218,637,493.54 199,532,111.28
Development expense
Goodwill
Long-term expense to be
apportioned
Deferred income tax assets 21,050,249.72 20,889,162.72 21,547,993.12 21,386,906.12
Other non-current assets
Total of non-current assets 1,470,275,789.64 1,674,792,332.63 1,486,120,351.80 1,691,946,954.58
Total assets 3,298,622,971.27 3,194,033,935.62 3,155,554,351.27 3,069,251,518.25
5
The First Quarterly Report for 2012 of Foshan Electrical and Lighting Co., Ltd.
Current liabilities:
Short-term borrowings
Borrowings from Central
Bank
Deposits and due to banks
and other financial
institutions
Borrowings from banks
and other financial
institutions
Transactional financial
liabilities
Notes payable
Accounts payable 276,493,149.76 256,429,298.82 196,871,864.30 183,223,573.81
Accounts received in
2,959,952.18 2,412,067.91 18,464,449.37 19,276,919.50
advance
Financial assets sold under
agreements to repurchase
Handling charges and
commissions payable
Employee’s compensation
33,037,154.68 33,036,249.68 53,489,679.18 53,120,689.68
payable
Taxes and fares payable 43,515,957.19 39,402,587.98 -2,082,582.68 1,005,639.26
Interest payable
Dividend payable
Other accounts payable 25,077,779.39 23,978,316.56 27,119,424.60 31,370,556.92
Due to reinsurers
Insurance contract reserve
Amount payable for acting
trading securities
Amount payable for acting
underwriting securities
Non-current liabilities due
within 1 year
Other current liabilities
Total current liabilities 381,083,993.20 355,258,520.95 293,862,834.77 287,997,379.17
Non-current liabilities:
Long-term borrowings
Debentures payable
Long-term payables
Specific-purpose account
payables
Accrued liabilities
Deferred income tax
5,562,421.85 5,562,421.85 5,668,382.31 5,668,382.31
liabilities
Other non-current
18,395,191.70 10,345,191.70 17,677,441.69 10,387,441.69
liabilities
Total non-current liabilities 23,957,613.55 15,907,613.55 23,345,824.00 16,055,824.00
Total liabilities 405,041,606.75 371,166,134.50 317,208,658.77 304,053,203.17
Shareholders’ equity
Share capital 978,563,745.00 978,563,745.00 978,563,745.00 978,563,745.00
Capital surplus 621,592,806.51 618,491,979.57 622,193,249.09 619,092,422.15
Less: Treasury Stock
Special reserve
Surplus reserve 583,537,290.22 583,537,290.22 583,537,290.22 583,537,290.22
General risk provision
6
The First Quarterly Report for 2012 of Foshan Electrical and Lighting Co., Ltd.
Retained earnings 663,509,832.36 642,274,786.33 606,584,375.02 584,004,857.71
Foreign exchange
difference
Total owners' equity
2,847,203,674.09 2,822,867,801.12 2,790,878,659.33 2,765,198,315.08
attributable to the Company
Minority interests 46,377,690.43 47,467,033.17
Total owners’ equity 2,893,581,364.52 2,822,867,801.12 2,838,345,692.50 2,765,198,315.08
Total liabilities and owners’
3,298,622,971.27 3,194,033,935.62 3,155,554,351.27 3,069,251,518.25
equity
4.2 Profit Statement
Prepared by Foshan Electrical and Lighting Co., Ltd. Jan.- Mar. 2012 Unit: RMB Yuan
Jan. – Mar. 2012 Jan. – Mar. 2011
Items
Consolidation The Company Consolidation The Company
I. Total operating revenue 491,445,026.36 471,003,990.78 519,151,820.87 499,655,871.14
Including: Operating income 491,445,026.36 471,003,990.78 519,151,820.87 499,655,871.14
Interest income
Premium income
Handling charges and
commission income
II. Total operating cost 423,210,091.98 400,556,625.26 437,518,529.30 426,216,928.47
Including: Operating cost 365,429,816.71 349,580,711.55 382,961,179.80 375,271,839.05
Interest expenses
Handling charges and
commission expenses
Cash surrender value
Net amount of claims
Net provision for
insurance contract reserve
Expenditure on
policy dividends
Reinsurance premium
Taxes and associate
5,603,859.85 4,719,993.24 5,079,122.08 4,739,856.56
charges
Sales and distribution
21,487,349.54 20,357,461.25 19,620,097.37 19,081,919.45
expenses
Administrative
32,836,699.33 27,204,211.75 31,768,782.74 27,919,049.80
expenses
Financial expenses -2,147,633.45 -1,305,752.53 -577,605.92 -510,464.63
Asset impairment loss -1,333,046.77 -285,271.76
Add: Gain/(loss) from
change in fair value (“-” 49,786.75 49,786.75 -2,880.30 -2,880.30
means loss)
Gain/(loss) from
-651,260.75 -651,260.75 -336,981.09 -336,981.09
investment (“-” means loss)
Including: income form
investment on affiliated
enterprises and jointly-run
enterprises
Foreign exchange difference
(“-” means loss)
III. Business profit (“-”
67,633,460.38 69,845,891.52 81,293,430.18 73,099,081.28
means loss)
Add: non-operation
266,731.44 205,833.90 317,075.07 281,759.08
income
Less: non-business 203,637.76 149,317.38 881,938.68 106,898.46
7
The First Quarterly Report for 2012 of Foshan Electrical and Lighting Co., Ltd.
expense
Including: loss from
non-current asset disposal
IV. Total profit (“-” means
67,696,554.06 69,902,408.04 80,728,566.57 73,273,941.90
loss)
Less: Income tax
11,860,439.46 11,632,479.42 11,240,635.51 10,607,917.78
expense
V. Net profit (“-” means
55,836,114.60 58,269,928.62 69,487,931.06 62,666,024.12
loss)
Attributable to owners of
56,925,457.34 58,269,928.62 67,639,896.12 62,666,024.12
the Company
Minority shareholder
-1,089,342.74 1,848,034.94
income
VI. Earnings per share
(I) basic earnings per
0.06 0.07
share
(II) diluted earnings per
0.06 0.07
share
Ⅶ. Other comprehensive
-600,442.58 -600,442.58 52,502,974.62 52,502,974.62
income
Ⅷ. Total comprehensive
55,235,672.02 57,669,486.04 121,990,905.68 115,168,998.74
income
Attributable to owners of
56,325,014.76 57,669,486.04 120,142,870.74 115,168,998.74
the Company
Attributable to minority
-1,089,342.74 1,848,034.94
shareholders
Net profit realized by the merged party before the enterprise merger under the same control in
current period: RMB 0.00.
4.3 Cash Flow Statement
Prepared by Foshan Electrical and Lighting Co., Ltd. Jan. - Mar. 2012 Unit: RMB Yuan
Jan. – Mar. 2012 Jan. – Mar. 2011
Items
Consolidation The Company Consolidation The Company
I. Cash flows from operating
activities:
Cash received from sale of
commodities and rendering 507,231,146.26 508,864,833.10 524,375,800.57 510,836,656.33
of 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
reinsurance business
Net increase of savings of
policy holders and
investment fund
Net increase of disposal of
tradable financial assets
8
The First Quarterly Report for 2012 of Foshan Electrical and Lighting Co., Ltd.
Cash received from
interest, handling charges
and commissions
Net increase of borrowings
from banks and other
financial institutions
Net increase of buy-back
funds
Tax refunds received 31,631,469.58 31,631,469.58 20,496,681.50 20,496,681.50
Other cash received
relating to operating 5,720,676.68 4,229,887.25 16,339,400.82 4,558,351.35
activities
Subtotal of cash inflows
544,583,292.52 544,726,189.93 561,211,882.89 535,891,689.18
from operating activities
Cash paid for goods and
243,922,868.25 265,105,110.31 389,549,926.37 384,463,487.31
services
Net increase of customer
lending and advance
Net increase of funds
deposited in the central bank
and amount due from banks
Cash for paying claims of
the original insurance
contract
Cash for paying interest,
handling charges and
commissions
Cash for paying policy
dividends
Cash paid to and for
86,034,045.40 75,120,881.93 66,728,041.24 62,658,649.82
employees
Various taxes paid 25,380,958.90 20,460,324.74 28,480,175.79 20,829,892.27
Other payment of cash
relating to operating 34,339,229.11 27,955,413.08 36,350,224.71 38,034,219.35
activities
Subtotal of cash outflows
389,677,101.66 388,641,730.06 521,108,368.11 505,986,248.75
from operating activities
Net cash flows from
154,906,190.86 156,084,459.87 40,103,514.78 29,905,440.43
operating activities
II. Cash Flows from
investment activities:
Cash received from
267,808.76 267,808.76
withdrawing investments
Cash received from
-16,799.77 -16,799.77
investment income
Net cash received from
disposal of fixed assets,
100,000.00
intangible assets and other
long-term assets
Net cash received from
disposal of subsidiary or
other operating business
units
Other cash received
relating to investment
activities
9
The First Quarterly Report for 2012 of Foshan Electrical and Lighting Co., Ltd.
Subtotal of cash
inflows from investment 351,008.99 251,008.99
activities
Cash paid to acquire fixed
assets, intangible assets and 9,276,371.43 6,871,783.48 20,686,669.51 11,389,700.73
other long-term assets
Cash paid for investment 206,800.00 206,800.00
Net increase of pledged
loans
Net cash paid to acquire
subsidiaries and other
operating units
Payment of cash relating
to other investment activities
Subtotal of cash outflows
9,276,371.43 6,871,783.48 20,893,469.51 11,596,500.73
from investment activities
Net cash flows from
-9,276,371.43 -6,871,783.48 -20,542,460.52 -11,345,491.74
investment activities
III. Cash Flows from
Financing Activities:
Cash received from
absorbing investment
Including: Cash received
by subsidiaries from increase
in minority interests
Cash received from
borrowings
Cash received from
issuance of bonds
Other cash received
relating to financing
activities
Subtotal of cash inflows
from financing activities
Cash repayments of
amounts borrowed
Cash paid for interest
expenses and distribution of
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 financing activities
Net cash flows from
financing activities
IV. Effect of foreign
exchange rate changes on 48,306.00 48,278.34 -580,982.83 -579,459.40
cash and cash equivalents
V. Increase in cash and cash
145,678,125.43 149,260,954.73 18,980,071.43 17,980,489.29
equivalents
Add : Balance of cash
690,691,751.15 412,626,723.50 711,853,632.95 681,198,634.58
and cash equivalents at
10
The First Quarterly Report for 2012 of Foshan Electrical and Lighting Co., Ltd.
year-begin
VI. Balance of cash and cash
equivalents at the end of the 836,369,876.58 561,887,678.23 730,833,704.38 699,179,123.87
year
4.4 Auditor’s report
Auditor’s opinion: un-audited
Board of Directors
Foshan Electrical and Lighting Co., Ltd.
23 April 2012
11
