2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
FOSHAN ELECTRICAL AND LIGHTING CO., LTD.
2013 Semi-annual Report
August 2013
1
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
I. Important Reminders, Contents & Explanation
The Board of Directors, the Supervisory Committee as well as all directors,
supervisors and senior management staff of Foshan Electrical and Lighting Co., Ltd.
(hereinafter referred to as ―the Company‖) warrant that this report is factual, accurate
and complete without any false record, misleading statement or material omission.
And they shall be jointly and severally liable for that.
All directors attended the board session for reviewing this report except the
following:
Name Position Reason for not attending the session in Name of the proxy
person
Ye zaiyou Director ON business Liu xingming
The Company plans not to distribute cash dividends or bonus shares or turn capital
reserve into share capital.
The financial report for the first half of 2013 has not been audited by a CPAs firm.
Pan Jie, company principal, Liu Xingming, chief of the accounting work, and Yin
Jianchun, chief of the accounting organ (chief of accounting), hereby confirm that the
Financial Report enclosed in this report is factual, accurate and complete.
This report is prepared in both Chinese and English. Should there be any discrepancy
between the two versions, the Chinese version shall prevail.
The future plans and some other forward-looking statements involved in this report
shall not be considered as virtual promises of the Company to investors. And
investors are kindly reminded to pay attention to possible risks.
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Contents
2013 Semi-annual Report .................................................................................................................. 1
I. Important Reminders, Contents & Explanation ......................................................................... 2
II. Company Profile ........................................................................................................................... 5
III. Accouonting & Business Highlights ........................................................................................... 7
IV. Report of the Board of Directors .............................................................................................. 10
V. Significant Events ........................................................................................................................ 22
VI. Change in Shares & Shareholders ........................................................................................... 34
VII. Directors, Supervisors & Senior Management Staff ............................................................. 39
VIII. Financial Report ..................................................................................................................... 43
IX. Documents Available for Reference ....................................................................................... 162
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Explanation
Term Refers to Contents
CSRC Refers to China Securities Regulation Commission
SZSE, the Stock Exchange Refers to Shenzhen Stock Exchange
Company, the Company, our company,
Refers to Foshan Electrical and Lighting Co., Ltd.
FSL
Board of Directors of Foshan Electrical and Lighting Co.,
Board of Directors Refers to
Ltd.
Shareholders‘ General Meeting of Foshan Electrical and
Shareholders‘ General Meeting Refers to
Lighting Co., Ltd.
Supervisory Committee of Foshan Electrical and Lighting
Supervisory Committee Refers to
Co., Ltd.
Yuan, Thousand Yuan, Ten thousand RMB Yuan, RMB Thousand Yuan, RMB Ten thousand
Refers to
Yuan, One Hundred Million Yuan Yuan, RMB One Hundred Million Yuan
Reporting period, this reporting period Refers to 1 Jan. 2013-30 Jun. 2013
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
II. Company Profile
I. Basic information of the Company
Stock abbreviation FSZM/YZMB Stock code 000541/200541
Stock exchange listed with Shenzhen Stock Exchange
Chinese name of the Company 佛山电器照明股份有限公司
Abbr. of the Chinese name of
佛山照明
the Company (if any)
English name of the Company
FOSHAN ELECTRICAL AND LIGHTING CO.,LTD
(if any)
Abbr. of the English name of
FSL
the Company (if any)
Legal representative of the
Pan Jie
Company
II. For Contact
Company Secretary Securities Affairs Representative
Name Lin Yihui Huang Yufen
No. 64, Fenjiang North Road, No. 64, Fenjiang North Road, Chancheng
Contact address Chancheng District, Foshan City, District, Foshan City, Guangdong
Guangdong Province, P.R.China Province, P.R.China
Tel. （0757）82966062 82810239 （0757）82966028
Fax （0757）82816276 （0757）82816276
E-mail fsl-yh@126.com fslhyf@163.com
III. Other information
1. Ways to contact the Company
Did any change occur to the registered address, office address and their postal codes, website address and email
address of the Company during the reporting period?
□ Applicable √ Inapplicable
The registered address, office address and their postal codes, website address and email address of the Company
did not change during the reporting period. The said information can be found in the 2012 Annual Report.
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
2. About information disclosure and where this report is placed
Did any change occur to information disclosure media and where this report is placed during the reporting period?
□ Applicable √ Inapplicable
The newspapers designated by the Company for information disclosure, the website designated by CSRC for
disclosing this report and the location where this report is placed did not change during the reporting period. The
said information can be found in the 2012 Annual Report.
3. Change of the registered information
Did any change occur to the registered information during the reporting period?
□ Applicable √ Inapplicable
The registration date and place of the Company, its business license No., taxation registration No. and
organizational code did not change during the reporting period. The said information can be found in the 2012
Annual Report.
4. Other relevant information
Did any change occur to other relevant information during the reporting period?
□ Applicable √ Inapplicable
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
III. Accounting & Business Highlights
I. Major accounting data and financial indicators
Does the Company adjust retrospectively or restate accounting data of previous years due to change of the
accounting policy or correction of any accounting error?
□ Yes √ No
Reporting period Same period of last year YoY +/-（％）
Operating revenues (RMB Yuan) 1,208,260,446.06 1,064,337,124.25 13.52%
Net profit attributable to shareholders of
153,047,291.37 134,522,943.15 13.77%
the Company (RMB Yuan)
Net profit attributable to shareholders of
the Company after extraordinary gains and 146,663,823.95 135,668,742.77 8.10%
losses (RMB Yuan)
Net cash flows from operating activities
11,712,252.61 234,485,514.83 -95.01%
(RMB Yuan)
Basic EPS (RMB Yuan/share) 0.16 0.14 14.29%
Diluted EPS (RMB Yuan/share) 0.16 0.14 14.29%
Weighted average ROE (%) 5.63% 4.62% 1.01%
As at the end of the
As at the end of last year YoY +/-（％）
reporting period
Total assets (RMB Yuan) 3,516,955,055.58 3,448,274,301.82 1.99%
Net assets attributable to shareholders of
2,795,996,703.55 2,950,106,976.17 -5.22%
the Company (RMB Yuan)
II. Differences between accounting data under domestic and overseas accounting standards
1. Differences of net profit and net assets disclosed in financial reports prepared under international and
Chinese accounting standards
Unit: RMB Yuan
Net profit attributable to shareholders of the Net assets attributable to shareholders of the
Company Company
Reporting period Same period of last year Closing amount Opening amount
According to Chinese
153,047,291.37 134,522,943.15 2,795,996,703.55 2,950,106,976.17
accounting standards
Items and amounts adjusted according to international accounting standards
According to international 153,047,291.37 134,522,943.15 2,795,996,703.55 2,950,106,976.17
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
accounting standards
2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and
Chinese accounting standards
Unit: RMB Yuan
Net profit attributable to shareholders of the Net assets attributable to shareholders of the
Company Company
Reporting period Same period of last year Closing amount Opening amount
According to Chinese
153,047,291.37 134,522,943.15 2,795,996,703.55 2,950,106,976.17
accounting standards
Items and amounts adjusted according to overseas accounting standards
According to overseas
153,047,291.37 134,522,943.15 2,795,996,703.55 2,950,106,976.17
accounting standards
3. Explain reasons for the differences between accounting data under domestic and overseas accounting
standards
N/A
III. Items and amounts of extraordinary gains and losses
Unit: RMB Yuan
Item Amount Explanation
Gains/losses on the disposal of non-current assets (including
13,187,805.39
the offset part of asset impairment provisions)
Tax rebates, reductions or exemptions due to approval
0.00
beyond authority or the lack of official approval documents
Government grants recognized in the current period, except
for those acquired in the ordinary course of business or
302,499.98
granted at certain quotas or amounts according to the
country‘s unified standards
Capital occupation charges on non-financial enterprises that
654,987.04
recorded into current gains and losses
Gains due to that the investment costs for the Company to
obtain subsidiaries, associates and joint ventures are lower
0.00
than the enjoyable fair value of the identifiable net assets of
the investees when making the investments
Gain/loss on non-monetary asset swap 0.00
Gain/loss on entrusting others with investments or asset
0.00
management
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Asset impairment provisions due to acts of God such as
0.00
natural disasters
Gain/loss on debt restructuring 0.00
Expenses for business reorganization, such as expenses for
0.00
staffing, reorganization etc.
Gain/loss on the part over the fair value due to transactions
0.00
with distinctly unfair prices
Current gains and losses of subsidies acquired from business
combination under the same control as from period-begin to 0.00
combination date
Gain/loss on contingent events irrelevant to the Company‘s
0.00
normal business
Gains and losses on change in fair value from tradable
financial assets and tradable financial liabilities, as well as
investment income from disposal of tradable financial assets
1,296,011.09
and tradable financial liabilities and financial assets available
for sales except for effective hedging related with normal
businesses of the Company
Reversal of provision for impairment that made impairment
0.00
test independently
Gain/loss on loans obtained by entrusting others 0.00
Gain/loss on change of the fair value of investing real estate
of which the subsequent measurement is carried out adopting 0.00
the fair value method
Effect on current gains/losses when a one-off adjustment is
made to current gains/losses according to requirements of 0.00
taxation, accounting and other relevant laws and regulations
Custody fee income when entrusted with operation 0.00
Other non-operation income and expenses other than the
-8,068,874.34
above
Other gain/loss items that meet the definition of an
2.84
extraordinary gain/loss
Less: Income tax effects 988,964.58
Minority interests effects (after tax) 0.00
Total 6,383,467.42 --
Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in
the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Extraordinary Gains and Losses, or classifies any extraordinary gain/loss item mentioned in the said
explanatory announcement as a recurrent gain/loss item
□ Applicable √ Inapplicable
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
IV. Report of the Board of Directors
I. Overview
The reporting period witnessed a complex and changeable international economy. The peak of the
European Crisis had passed, but economic recession seemed inevitable and the U.S. economy was
also in a slow recovery. China‘s economy was under increasing downward pressure with the
economic growth slowing down at a marked pace. Meanwhile, boosted by various stimulus
industrial policies of the government, the production capacity of the industry expanded quickly and
thus market competition became increasingly fierce. With such an economic environment and
industrial background, the Company, according to the policies set at the beginning of the year,
worked hard to increase its strength, product quality and operating efficiency by promoting lean
manufacturing and optimizing internal management. Meanwhile, it input more efforts in brand and
channel development, as well as R&D and market expansion. As a result, the Company achieved a
stable growth in its main business.
For the reporting period, the Company achieved operating revenues of RMB 1,208,260.4 thousand,
up 13.52% over the same period of last year; total profit of RMB192,598.8 thousand, up20.85%
over the same period of last year; and net profit attributable to shareholders of the Company of
RMB 153,047.3 thousand, representing a year-on-year growth of 13.77%.
II. Main business analysis
For the reporting period, the Company achieved a sales income of RMB 1,182,317.6 thousand from
its main business, up 12.26% over the same period of last year, of which the domestic sales income
stood at RMB 854,494.3 thousand, up 17.40% on the year-on-year basis, and the export income
stood at RMB 327,823.3 thousand, down 3.92% on the year-on-year basis. The gross profit rate was
23.11%, down 2.01% over the same period of last year.
YoY change of major financial data:
Unit: RMB Yuan
Reporting period Same period of last year YoY +/-% Main reasons for change
Operating revenues 1,208,260,446.06 1,064,337,124.25 13.52%
Operating costs 925,675,209.12 792,978,460.81 16.73%
Selling expenses 44,431,240.08 46,953,881.19 -5.37%
Administrative expenses 77,932,401.53 75,564,365.47 3.13%
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Financial expenses -3,963,817.89 -7,159,594.18 44.64% Increase of exchange loss
R&D input 33,914,703.00 35,236,168.02 -3.75%
Profit increased and the
39,614,342.25
Income tax expenses 25,616,659.61 54.64% taxable amount increased
accordingly.
Net cash flows from Increase of cash paid for
11,712,252.61 234,485,514.83 -95.01%
operating activities goods and labor services
Increase of cash received
Net cash flows from
25,328,242.59 879,254.59 2,780.65% from investment
investing activities
retraction
Cash dividends were
distributed in the
Net cash flows from
-284,036,742.40 -26,780.81 -1,060,498.03% reporting period while
financing activities
they were not in the same
period of last year.
The cash dividends for
Net increase in cash and
-249,046,824.08 235,575,364.17 -205.72% 2012 were distributed in
cash equivalents
the reporting period.
Major changes to the profit structure or sources of the Company during the reporting period:
□ Applicable √ Inapplicable
No major changes occurred to the profit structure or sources of the Company during the reporting
period.
Reporting period progress of the future development planning in the disclosed documents of the
Company such as share-soliciting prospectuses, offering prospectuses, asset reorganization reports,
etc.:
□ Applicable √ Inapplicable
The Company did not mention any future planning for the reporting period in its disclosed
documents such as share-soliciting prospectuses, offering prospectuses, asset reorganization reports,
etc.
Review the progress of the previously disclosed business plan in the reporting period:
In the reporting period, according to its operating plan for 2013, the Company made rational and
careful arrangements and planning. The operation as a whole showed a steady development and the
operating plan for the first half of the year was excellently fulfilled. In the coming 6 months, the
Company will continue to push forward relevant work at a steady pace.
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
III. Breakdown of main business
Unit: RMB Yuan
Increase/decrease Increase/decrease Increase/decrease
of operating of operating costs of gross profit
Operating Gross profit rate
Operating costs revenues over the over the same rate over the same
revenues (%)
same period of period of last year period of last year
last year (%) (%) (%)
Classified by industry:
Lighting fixtures
1,182,317,613.69 909,136,643.67 23.11% 12.26% 15.27% -2.01%
and lamps
Classified by product:
Lighting fixtures
1,182,317,613.69 909,136,643.67 23.11% 12.26% 15.27% -2.01%
and lamps
Classified by region:
Domestic 854,494,345.56 669,777,009.94 21.62% 17.40% 21.15% -2.42%
Overseas 327,823,268.13 239,359,633.72 26.99% 3.92% 4.75% -0.58%
IV. Core competitiveness analysis
In the reporting period, the Company continued to give play to its leading competitive edges in
channel building, scale & cost, brand recognition, technological R&D, etc. Meanwhile, it input
more efforts in R&D, protected its intellectual properties such as patents and trademarks, improved
the management of intangible assets and proactively brought in professional technical personnel.
There was no such a case where the core competitiveness of the Company was severely damaged by
core technicians leaving their posts or expiration of important intellectual properties and intangible
assets.
V. Investment analysis
1. Investments in equities of external parties
（1） Investments in external parties
Investments in external parties
Investment amount in the reporting period Investment amount in the same period of
+/-%
(RMB Yuan) last year (RMB Yuan)
0.00 0.00 0.00%
Particulars about investees
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Proportion of the Company‘s investment in
Name of investee Main business
the investee‘s total equity interests (%)
Qinghai Fozhao Lithium Energy Integrated development and utilization of
38%
Exploitation Co., Ltd. salt lake brine resource.
Guangdong Fozhao Guoxuan Power R&D, production, installation and sales of
50%
Battery Co., Ltd. lithium ion battery and its control system
R&D, production and sale of lithium ion
batteries and materials, solar, wind and
other renewable energy application
products, equipment and systems,
energy-saving optoelectronic and
Hefei Guoxuan High-tech Power Energy electronic products, equipment and
14.8361%
Co., Ltd. systems, and lithium power emergency
supply, power-driven tools, transportation
tools and chargers; operation and agent
service of import and export of products
and technologies; design and construction
of lighting projects for cities and roads
Investment, operation and management of
Guangzhou Zhujiang Asset Management
self-owned funds; project planning; 15.38%
Company Limited
investment management consulting service
Electronic products, communication
devices, household appliances, furniture,
speakers, paper, paper products, chemicals
for daily use, shoes, hats and garment;
Shenzhen Zhonghao (Group) Ltd. Less than 5%
domestic commerce, material supply and
marketing (excluding goods operated, sold
and controlled by special entities);
supervision of the self-developed projects
Production and sale of tungsten,
molybdenum, nickel and clad metal
products, diamond die, thin steel strips,
electric light source products, power
supply products, industrial gas and special
equipment; production, installation, sale,
Chengdu Hongbo Industrial Co., Ltd. mechanic processing, vehicle repair, 6.94%
consulting service, sale of goods
(excluding those prohibited by the
government from circulating), export of
products produced by it or its member
companies; import of needed mechanic
equipment, components, raw and auxiliary
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
materials; processing and compensation
trade
Xiamen Bank Banking services 7.99%
China Guangfa Bank Co., Ltd. Banking services Less than 5%
Foshan Fochen Road Development Building and operation of the Fochen
7.66%
Company Limited (Foshan Chencun) Road
Investment into hi-tech and innovative
businesses, trusteeship management and
Shenzhen Liangke Venture Capital operation of venture capital of other
18.5%
Company Limited venture capital companies; investment
consulting service (excluding restricted
fields)
（2）Equity-holdings in financial enterprises
Gain/loss
Initial Opening Opening Closing Closing Closing in the
Enterprise Enterprise investment equity-hol equity-hol equity-hol equity-hol book value reporting Accountin Equity
name variety cost (RMB dings ding ratio dings ding ratio (RMB period g title source
Yuan) (share) (%) (share) (%) Yuan) (RMB
Yuan)
Available-f
China
Commerci 30,828,816 67,343,756 1,365,712. or-sale Additional
Everbright 23,546,768 0.06% 23,546,768 0.06%
al bank .00 .48 54 financial issue
Bank
assets
Long-term
Xiamen Commerci 208,574,21 109,714,17 109,714,17 292,574,13 Additional
7.99% 7.99% equity
Bank al bank 7.00 6 6 3.00 issue
investment
China Long-term
Commerci Less than Less than Additional
Guangfa 500,000.00 229,792 229,792 500,000.00 equity
al bank 5% 5% issue
Bank investment
239,903,03 133,490,73 133,490,73 360,417,88 1,365,712.
Total -- -- --
3.00 6 6 9.48 54
（3）Securities investments
Initial Number Sharehold Number Sharehold Closing Gain/loss
investmen of shares ing of shares ing book for
Variety of Code of Name of Accounti Source of
t cost held at percentag held at percentag value reporting
securities securities securities ng title stock
(RMB period-be e at period-en e at (RMB period
Yuan) gin period-be d period-en Yuan) (RMB
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
gin d Yuan)
Trading
5,000,000 3,943,027 -69,701.4
Fund financial
.00 .30 5
assets
Other securities investments
0.00 0 -- 0 -- 0.00 0.00 -- --
held at the period-end
5,000,000 3,943,027 -69,701.4
Total -- --
.00 .30 5
Disclosure date of the board
announcement on approval of 25 Nov. 2010
the securities investment
Shareholdings in other listed companies:
□ Applicable √ Inapplicable
2. Wealth management entrustment, derivative investments and entrustment loans
（1）Wealth management entrustment
Naught
（2）Derivative investments
Naught
（3）Entrustment loans
Unit: RMB Ten thousand
Related
Loan Interest Use of funds by
Borrower party or Guarantor or pawn
amount rate the borrower
not
Short-term
Qinghai Fozhao Lithium Energy Exploitation Co., Ltd. Yes 4,332 5.6% Naught
working funds
Total -- 4,332 -- -- --
According to the ―Proposal on Providing Financial Support for a Joint
Stock Company‖ reviewed and approved at the 1 st Special Shareholders‘
General Meeting on 8 Jan. 2013, the entrustment loan would become due
after 4 months since the date when the Company, the relevant commercial
bank and Qinghai Fozhao Lithium Energy Exploitation Co., Ltd.
Extension, overdue loans or lawsuits (if any)
(―QFLEE‖ for short) signed the entrustment loan contract, i.e. on 20 May
2013. Due to various reasons, QFLEE failed to repay the loan to the
Company in time, but it promised to repay all the loan and interest before 1
Sept. 2013 (for details, see the Announcement No. 2013-020 disclosed on
www.cninfo.com.cn on 8 Jun. 2013).
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Concerning the overdue loan to QFLEE, the Company has sent multiple
reminders and staff to QFLEE to try to collect the loan in time. Up to 26
Aug. 2013, Qinghai Fozhao Lithium Energy Exploitation Co., Ltd. still
Countermeasures for extension overdue loans or
hadn’t pay off the arrearage. In order to ensure the capital safety and
lawsuits (if any)
protect its legal rights and interests from harms, the Board of Directors of
the Company has agreed to bring an action against Qinghai Fozhao
Lithium Energy Exploitation Co., Ltd.
Disclosure date of the board announcement approving
18 Dec. 2012
the entrustment loan (if any)
Disclosure date of the general meeting announcement
9 Jan. 2013
approving the entrustment loan (if any)
3. Use of raised funds
Naught
4. Analysis to main subsidiaries and stock-participating companies
Main subsidiaries and stock-participating companies:
Unit: RMB Yuan
Main Registered
Company Company Operating Operating
Industry products/ser capital Total assets Net assets Net profit
name variety revenues profit
vices （0,000）
Production
and
operation of
Foshan
electronic
Chansheng
Manufactur ballasts, 14,033,186. 7,330,167.4 20,123,729. 1,447,915.8 1,076,612.8
Electronic Subsidiary RMB 100
e electronic 86 6 25 8 9
Ballast Co.,
transformer
Ltd.
s and
electronic
igniters
Producer of
lamps,
Foshan electric
Chanchang lighting
Electric Manufactur products 130,067,191 95,487,727. 77,650,098. 9,401,093.8 7,050,820.3
Subsidiary RMB 7,278
Appliances e and related .19 55 53 4 8
(Gaoming) fittings,
Co., Ltd. providing
relevant
installation
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
and
consulting
services
R&D,
production
and sales of
Foshan lamps,
Taimei household
Manufactur 140,813,551 33,243,022. 120,407,762 7,706,880.5 5,773,182.0
Times Subsidiary appliances RMB 50
e .05 99 .34 3 5
Lamps Co., and fittings,
Ltd. and other
electric
lighting
products
Production
of
energy-savi
ng lighting
products,
lamps and
lighting
Nanjing equipments;
Fozhao lighting
Lighting projects;
Manufactur RMB 92,687,556. 72,338,863. 23,650,560.
Component Subsidiary energy-savi 215,096.31 357,258.73
e 4168.32 62 07 20
s ng
Manufacturi technology
ng Co., Ltd. developmen
t and
production
of relevant
fittings; sale
of
self-produce
d products
R&D and
production
Foshan of lamps of
Lighting Manufactur electric 8,083,568.0 8,083,823.7
Subsidiary RMB 500 0.00 12,492.72 9,203.79
Lamps Co., e light source 0 5
Ltd. and related
electrical,
metal and
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
nonmetal
fittings
Production
and sale of
equipments
and
products of
electric
light source;
and sale of
FSL
components
(Xinxiang) Manufactur 12,606,415. 6,362,871.7
Subsidiary of electric RMB 1000 0.00 -461,278.31 -463,546.31
Lighting e 83 8
light source,
Co., Ltd.
related
materials,
electrical
materials,
automobile
components
, lamps and
fittings
Qinghai
Producing
Fozhao
and selling
Lithium Ion
Manufactur lithium ion 35,428,636. 22,258,493. -7,217,769. -8,528,914.
Battery Subsidiary RMB 5000 0.00
e battery 54 73 52 77
Cathode
cathode
Materials
materials
Co., Ltd.
Financing
lease, lease,
lease
consulting
and
Guangdong guaranty,
Fozhao financing
208,674,922 208,592,537 2,824,123.3 2,118,092.5
Financing Subsidiary Finance lease RMB 20000 0.00
.50 .07 9 4
Lease Co., service for
Ltd. new-energy
automobiles
& main
components
,
energy-savi
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
ng lighting
products &
projects
R&D and
production
of electric
light source
products,
equipment,
fittings,
electrical
materials,
automobile
components
, home
appliances,
FSL socket
Lighting outlets,
15,005,784. 15,001,257.
Equipment Subsidiary manufacture power RMB 1500 0.00 1,676.88 1,257.66
88 66
Co., Ltd. switches,
fire-protecti
on products,
ventilation
equipment,
LED
products,
etc.;
domestic
trade,
import and
export of
technology
and goods
5. Significant projects invested with non-raised funds
Naught
VI. Predict the operating results of Jan.-Sept. 2013
Warning of possible loss or considerable YoY change of the accumulated net profit made during the
period-begin to the end of the next reporting period according to prediction, as well as explanations
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
on the reasons:
□Applicable √Inapplicable
VII. Explanation of the Board of Directors and the Supervisory Committee on the
“Non-standard Audit Report” issued by the CPAs firm for the reporting period
Inapplicable
VIII. Explanation of the Board of Directors on the issues mentioned in the “Non-standard
Audit Report” issued by the CPAs firm for last year
Inapplicable
IX. Implementation of profit allocation during the reporting period
Profit allocation plan implemented during the reporting period, especially execution and adjustment
of the cash dividend plan and the plan for turning capital reserve into share capital:
√ Applicable □ Inapplicable
On 28 May 2013, the ―Preplan for Profit Allocation for 2012‖ was reviewed and approved at the
2012 Annual Shareholders‘ General Meeting held by the Company. As the profit allocation plan for
2012, the Company, based on the total 978,563,745 shares as at the end of 2012, distributed a cash
dividend of RMB 3.10 (tax included; dividends for B-share holders paid in HKD) for every 10
shares held by its shareholders of A share and B share. On 8 Jun. 2013, the Company disclosed the
―Announcement of the Implementation of Profit Allocation for 2012‖ and determined that A shares‘
date of record was on 18 Jun. 2013, ex-dividend date on 19 Jun. 2013, the last trading date of B
shares on 18 Jun. 2013 and the ex-dividend date on 19 Jun. 2013. B shares‘ date of record was on
21 Jun. 2013. At the end of the reporting period, the implementation of profit allocation plan for
2012 was completed.
X. Pre-plan for profit allocation and turning capital reserve into share capital for the
reporting period
During the reporting period, the Company did not distribute cash dividends or bonus shares or turn
capital reserve into share capital.
20
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
XI. Particulars about researches, visits and interviews received in this reporting period
Main discussion and
Place of Way of
Time of reception Visitor type Visitor materials provided by
reception reception
the Company
The operation and
China Securities
16 Jan. 2013 The Company Field research Institution production of the
Co., Ltd.
Company
21
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Section V Significant Events
I. Corporate governance
In the reporting period, in strict accordance with applicable laws, regulations and regulatory
documents such as the Company Law, the Securities Law, the Code of Corporate Governance of
Listed Companies and the Stock Listing Rules of Shenzhen Stock Exchange, the Company kept
improving the corporate governance structure, optimizing the internal management and control
system and enhancing the standardized operation. At the same time, according to the Basic Rules
for Internal Control of Enterprises and the Mating Guidelines for Internal Control of Enterprises,
etc., the Company actively carried out internal control improvement. In addition to the Audit
Department, the Company has also set up an internal control leading team to establish and improve
the internal control system and effectively implement the system. In the reporting period, the actual
situation of the Company‘s governance did not differ from the Company Law and the relevant
CSRC requirements.
II. Significant litigations and arbitrations
□Applicable √Inapplicable
The Company was not involved in any significant lawsuit or arbitration during the reporting period.
III. The media’s doubts
□ Applicable √ Inapplicable
There was no such a case in the reporting period where most of the media raised the same doubt
about the Company.
IV. Bankruptcy and reorganization
Inapplicable
22
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
V. Asset transaction
1. Purchase of assets
Inapplicable
2. Sale of assets
Relation
Net
Ratio of ship
profit Whether
the net between
contribu or not Whether
profit the
ted by the or not
Transact Influenc contribu transacti the
the asset ownersh creditor‘
ion e of the ted to Related- on party
from the ip of the s right
Transact price sale on the Pricing party and the and Disclos
Asset Date of period-b asset liabilitie Disclos
ion (RMB the Compan principl transacti Compan ure
sold sale egin to involve s ure date
party Ten Compan y by the e on or y involved index
the date d has have
thousan y (note asset not (applica
of sale been been
d) 3) sale to ble for fully
(RMB fully transferr
the total related-
Ten transferr ed
profit party
thousan ed
(%) transacti
d)
ons)
The sale Name
of the of
18.5% announc
equity ement:
of Announ
18.5% Shenzhe cement
equity n on
Shenzhe With the
of Liangke Complet
n Meilu assessm
Shenzhe Venture ion of
Trade ent
n 28 Jun. Capital Inapplic 23 Aug. the
Develop 2,220 0 0% result as No Yes Yes
Liangke 2012 Co., able 2013 Transfer
ment the
Venture Ltd. has of
Co., pricing
Capital no Equity-
Ltd. base
Co., influenc holdings
Ltd. e on the in a
business Former
continui Shareho
ty and lding
manage Compan
ment y;
23
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
stability Announ
of the cement
Compan No.:
y, and 2013-02
has no 5;
direct Disclos
impact ure
on the website:
financia www.cn
l info.co
position m.cn
and
operatin
g results
during
the
reportin
g
period.
Explanation on the sale of assets:
On 28 Jun. 2012, the 18th Session of the 6th Board of Directors was convened, at which the
“Proposal on Transferring Equities of Shenzhen Liangke Venture Capital Co., Ltd.” was reviewed
and approved. Up to 1 Jul. 2013, the transferee had paid all the equity transfer amount and delay
charges to the Company; On 22 Aug. 2013, the transfer of the 18.5% stake that the Company had
held in Shenzhen Liangke Venture Capital Company Limited was completed, generating a gain
about RMB 8.97 million.
3. Business combination
Inapplicable
VI. Implementation and influence of any equity incentive plan of the Company
Inapplicable
24
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
VII. Significant related-party transactions
1. Related-party transactions arising from routine operation
Obtainabl
Proportio
e market
n in the
Transacti price for
Transacti total
Type of Contents on the
Related on price amounts
the of the Pricing amount Mode of transactio Disclosur Disclosur
transactio Relation (RMB of
transactio transactio principle (RMB settlement n of the e date e index
n party Ten transactio
n n Ten same
thousand) ns of the
thousand) kind(RM
same kind
B Ten
(%)
thousand)
Person
Purchasin
acting in
g
concert
Hangzhou products
with a
Times and
legal Purchase
Lighting receiving Market Remittanc www.cnin
person of 0.65 0.65 0% 0.65 2013.4.26
Electric labor price e fo.com.cn
that held material
Co., Ltd. service
over 5%
from the
shares of
related
the
party
Company
Person
Purchasin
acting in
g
concert
products
with a
Prosperity and
legal Purchase
Electrical receiving Market Remittanc www.cnin
person of 1,482.70 1,482.70 1.43% 1,482.70 2013.4.26
(China) labor price e fo.com.cn
that held material
Co., Ltd. service
over 5%
from the
shares of
related
the
party
Company
Person Purchasin
OSRAM acting in g
Purchase
(China) concert products Market Remittanc www.cnin
of 6.24 6.24 0.01% 6.24 2013.4.26
Lighting with a and price e fo.com.cn
material
Co., Ltd. legal receiving
person labor
25
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
that held service
over 5% from the
shares of related
the party
Company
Purchasin
g
Legal
products
Prosperity person
and
Lamps & that held Purchase
receiving Market Remittanc www.cnin
Compone over 5% of 212.44 212.44 0.2% 212.44 2013.4.26
labor price e fo.com.cn
nts shares of material
service
Limited the
from the
Company
related
party
Person
Purchasin
acting in
g
Prosperity concert
products
(Xinxiang with a
and
) legal Purchase
receiving Market Remittanc www.cnin
Electro-O person of 2.97 2.97 0% 2.97 2013.4.26
labor price e fo.com.cn
ptical that held material
service
Machiner over 5%
from the
y Co., Ltd shares of
related
the
party
Company
Purchasin
A g
Siteco company products
Prosperity which has and
Purchase
Lighting a related receiving Market Remittanc Inapplica Inapplica
of 135.20 0.13% 135.20
(Langfan individual labor price e ble ble
material 135.20
g) Co., sharehold service
Ltd. er as its from the
director related
party
Prosperity Person Selling
(Hangzho acting in products
u) concert and
Sales of Market Remittanc www.cnin
Lighting with a providing 251.17 251.17 0.15% 251.17 2013.4.26
products price e fo.com.cn
and legal labor
Electrical person service to
Co., Ltd. that held the
26
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
over 5% related
shares of party
the
Company
Person
acting in Selling
concert products
with a and
Prosperity
legal providing
Electrical Sales of Market Remittanc www.cnin
person labor 50.78 50.78 0.03% 50.78 2013.4.26
(China) products price e fo.com.cn
that held service to
Co., Ltd.
over 5% the
shares of related
the party
Company
Person
acting in Selling
concert products
with a and
OSRAM
legal providing
(China) Sales of Market Remittanc www.cnin
person labor 557.75 557.75 0.34% 557.75 2013.4.26
Lighting products price e fo.com.cn
that held service to
Co., Ltd.
over 5% the
shares of related
the party
Company
Selling
Legal products
Prosperity person and
Lamps & that held providing
Sales of Market Remittanc www.cnin
Compone over 5% labor 2,329.87 2,329.87 1.44% 2,329.87 2013.4.26
products price e fo.com.cn
nts shares of service to
Limited the the
Company related
party
Person Selling
acting in products
Osram concert and
Asia with a providing Sales of Market Remittanc Inapplica Inapplica
1.30 1.30 0.00% 1.30
Pacific legal labor products price e ble ble
Ltd. person service to
that held the
over 5% related
27
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
shares of party
the
Company
Purchasin
g
Sharehold
products
Prosperity er who
and Purchase
Lamps & held over
receiving of Market Remittanc www.cnin
Compone 5% 134.04 134.04 3.44% 134.04 2013.4.26
labor equipmen price e fo.com.cn
nts shares of
service t
Limited the
from the
Company
related
party
Person
Purchasin
acting in
g
concert
Prosperity products
with a
(Xinxiang and Purchase
legal
) Lighting receiving of Market Remittanc www.cnin
person 72.06 72.06 1.85% 72.06 2013.4.26
Machiner labor equipmen price e fo.com.cn
that held
y Co., service t
over 5%
Ltd. from the
shares of
related
the
party
Company
Selling
Guangdo products
ng and
Fozhao Associate providing
Collectio Market Remittanc Inapplica Inapplica
Guoxuan d labor 22.21 22.21 2.85% 22.21
n of rent price e ble ble
Power enterprise service to
Energy the
Co., Ltd. related
party
Selling
Guangdo products
ng and Collectio
Fozhao Associate providing n of water
Market Remittanc Inapplica Inapplica
Guoxuan d labor & 4.27 4.27 0.99% 4.27
price e ble ble
Power enterprise service to electricity
Energy the fee
Co., Ltd. related
parties
Total -- -- 5,263.65 -- -- -- -- --
28
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Details of large-amount sales returns Naught
On 28 May 2013, the Company convened the 2012 Annual Shareholders‘ General
Where the total amount of routine
Meeting, at which the ―Proposal on the Routine Related-party Transactions for 2013‖
related-party transactions to occur in the
was reviewed and approved. It was estimated that the amount of routine transactions
reporting period had been predicted by
with related parties in 2013 would stand at RMB 135.60 million. In the reporting
type, give the actual execution in the
period, the actual amount of purchase from related parties was RMB 20,463
reporting period (if any)
thousand and that of sale to related parties was RMB 31,908.7 thousand.
Explanation on significant difference
between the transaction price and the Inapplicable
market price (if any).
2. Related-party transactions arising from acquisition and sale of assets
Inapplicable
3. Significant related-party transactions arising from joint investment in external parties
Inapplicable
4. Credits and liabilities with related parties
Was there any credit or liability with any related party for non-operating purpose?
□ Yes √ No
5. Other significant related-party transactions
On 8 Jan. 2013, the Company held the First Special Shareholders‘ General Meeting in 2013, at
which the ―Proposal on Providing Financial Support for a Stock-participating Company‖ was
reviewed and approved. The Company provided the related enterprise Qinghai Fozhao Lithium
Energy Exploitation Co., Ltd. with a financial support of RMB 43.32 million.
Index for the interim reports on significant related-party transactions disclosed on the relevant
website
Title of the interim announcement Disclosure date Disclosure website
Announcement on Resolutions Made at
the First Special Shareholders‘ General 9 Jan 2013 www.cninfo.com.cn
Meeting for 2013
29
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
VIII. Significant contracts and their fulfillment
1. Trusteeship, contracting and leasing
During the reporting period, the Company did not have any trust, contracting or leasing event.
2. Guarantees provided by the Company
During the reporting period, the Company and its controlled subsidiaries did not provide any
guarantee for any external party.
3. Other significant contracts
During the reporting period, there was no other significant contract.
4. Other significant transactions
Naught
IX. Commitments made by the Company or shareholders holding over 5% of
the Company’s shares in the reporting period or such commitments carried
down into the reporting period
There were no commitments made by the Company or shareholders holding over 5% of the
Company‘s shares in the reporting period or such commitments carried down into the reporting
period.
X. Engagement and disengagement of the CPAs firm
Has the semi-annual financial report been audited?
□ Yes √ No
XI. Punishment and rectification
Type of
Name of the Type of the punishment or Disclosure
Reason Conclusion (if any) Disclosure index
punished punished investigation date
Foshan Electrical Illegal Administrative On 6 Mar. 2013, Announcement
and Lighting Co., Company information punishment by Guangdong CSRC issued 7 Mar. 2013 title:
Ltd. disclosure Guangdong CSRC the ―Administrative Announcement
30
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Punishment Decision‖, on Receiving the
ordering the Company to Administrative
make rectification, giving Punishment
a warning and imposing a Decision by
fine of RMB 0.4 million. Guangdong
CSRC;
Announcement
No.: 2013-004
Disclosure
website:
www.cninfo.com.
cn
On 6 Mar. 2013,
Guangdong CSRC issued Announcement
the ―Administrative title:
Punishment Decision‖, Announcement
Zhong Xincai, giving a warning to and on Receiving the
Zou Jianping, imposing a fine of RMB Administrative
Zhao Yong, Liu Responsible 150,000 on Zhong Xincai; Punishment
Administrative
Xingming, Xie Senior for illegal giving a warning to and a Decision by
punishment by
Qing, Wei Bin management information fine of RMB 100,000 on 7 Mar. 2013 Guangdong
Guangdong CSRC
( Zhong Xincai, staff disclosure Zou Jianping; giving a CSRC;
Zou Jianping and warning to and a fine of Announcement
Zhao Yong had RMB 30,000 on Zhao No.: 2013-004
left their posts) Yong; giving a warning to Disclosure
and a fine of RMB 30,000 website:
on Liu Xingming; and www.cninfo.com.
giving a warning to Xie cn
Qing and Wei Bin.
Notes to rectification
√Applicable □ Inapplicable
On 4 Jul. 2012, the Company received the Written Decision of Guangdong CSRC on Administrative
Regulatory Measures (2012) No. 9— Decision on Ordering Foshan Electrical and Lighting Co., Ltd.
to Adopt Rectification Measures. The Company later disclosed relevant announcements on 13 Jul.
2012 and 2 Aug. 2012 respectively. Meanwhile, it engaged the Shenzhen Branch of Albright Law
Offices (hereinafter referred to as ―Albright Law Offices‖) as the special legal advisor on the
rectification & standardization of the related-party transactions & information disclosure of the
Company, and engaged GP Certified Public Accountants (hereinafter referred to as ―GP‖) to check
the authenticity and fairness of transactions regarding the Company selling products to and
31
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
purchasing goods from as well as paying processing fee to the related parties. And GP issued the
Report on Executing Agreed Proceedings for relevant Transaction Facts of Foshan Electrical and
Lighting Co., Ltd.
After receiving the Administrative Punishment Decision from Guangdong CSRC on 6 Mar. 2013,
The Company paid special attention to preventing such events from happening again. It learned
lessons from the case and adopted the measures as follows:
1. It perfected the system on registration & update for related parties and reinforced the
management on the files of related parties as well as combed relevant information, so as to obtain
detailed information of the related parties of the Company and update it in time, and further ensure
the authenticity, accuracy and completeness of the information of related parties.
2. It conducted special training on current directors, supervisors and senior management staff of the
Company, so as to make them systematically know the contents of securities laws, rules and
standardized documents, and get familiar with the basic knowledge of the securities market, as well
as strengthen the awareness of standardized operation.
3. It standardized corporate governance, improved the decision-making procedures, strictly
enforced relevant laws, regulations and regulatory documents and strengthened organization and
management over the information disclosure work so as to prevent these events from happening
again.
4. It reinforced improvement of internal control rules, especially financial management, on its
controlled subsidiaries and important shareholding companies, and established a more effective
control mechanism for them.
XII. Explanation on other significant events
The Company convened the 3rd Session of the 6th Board of Directors on 13 Jul. 2010, at which the
―Investment Proposal on the Formal Acquisition of 20% Equity Interests of Hefei Guoxuan Hi-tech
Power Energy Co., Ltd. Held by Hefei Guoxuan Marketing Planning Co., Ltd. was reviewed and
approved. On 15 Jul. 2010, the Company disclosed the ―Investment Announcement on the Formal
Acquisition of 20% Equity Interests of Hefei Guoxuan Hi-tech Power Energy Co., Ltd. Held by
Hefei Guoxuan Marketing Planning Co., Ltd.‖ and the ―Progress Announcement on the Intention of
Accepting Equity Interests of Hefei Guoxuan Hi-tech Power Energy Co., Ltd.‖ According to the
―Equity Transfer Agreement‖ signed between the transferor and the transferee, if Hefei Guoxuan
Hi-tech Power Energy Co., Ltd. (hereinafter referred to as ―Hefei Guoxuan‖) fails to achieve the
predicted annual average profit of RMB 100 million for the three consecutive years ended 30 Jun.
2013, the transferor shall refund the corresponding equity transfer amount with the interest (at the
loan interest rate prescribed by the People‘s Bank of China at the time) to the Company according
32
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
to the decrease ratio of the actually achieved annual average profit of Hefei Guoxuan in the three
years to the predicted annual average profit. And the shareholding percentages of both parties shall
remain the same. The profit evaluation period for Hefei Guoxuan is from 1 Jul. 2010 to 30 Jun.
2013 and the average annual profit for the three years shall be RMB 100 million (for details, please
refer to the Announcement No. 2010-023 disclosed on www.cninfo.com.cn dated 15 Jul. 2010). At
present, Huapu Tianjian Certified Public Accountants is carrying out an audit on Hefei Guoxuan.
After the audit, the Company will, according to the audit report, decide whether the target of an
annual average profit of RMB 100 million for the three years from 1 Jul. 2010 to 30 Jun. 2013 is
fulfilled or not and disclose the information in time.
33
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
VI. Change in Shares & Shareholders
I. Change in shares
Before the change Increase/decrease (+, -) After the change
Capitalizat
Issuance ion of
Proportion Bonus Proportio
Amount of new public Others Subtotal Amount
(%) shares n (%)
shares reserve
fund
137,192,6 136,215,4
14.02% -977,140 -977,140 13.92%
I. Restricted shares 15 75
3. Shares held by other
4,286,189 0.44% -1,228,271 -1,228,271 3,057,918 0.31%
domestic investors
Among which: shares held
3,733,593 0.38% -675,675 -675,675 3,057,918 0.31%
by domestic corporations
Shares held by domestic
552,596 0.05% -552,596 -552,596 0 0%
natural persons
4. Shares held by foreign 131,815,6 131,815,6
13.47% 13.47%
investors 85 85
Among which: Shares held 131,815,6 131,815,6
13.47% 13.47%
by foreign corporations 85 85
5. Share held by senior
1,090,741 0.11% 251,131 251,131 1,341,872 0.14%
management staff
841,371,1 842,348,2
85.98% 977,140 977,140 86.08%
II. Non-restricted shares 30 70
1. Renminbi ordinary 616,150,0 617,127,2
62.96% 977,140 977,140 63.06%
shares 93 33
2. Domestically listed 225,221,0 225,221,0
23.02% 23.02%
foreign shares 37 37
978,563,7 978,563,7
III. Total shares 100% 100%
45 45
Reason for the change in shares:
√ Applicable □ Inapplicable
（1）The previously restricted 1,228,271 shares (including 675,675 shares held by domestic
corporations and 552,596 shares held by domestic natural persons) became non-restricted on 8 Mar.
34
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
2013.
（2）Because of re-election of the Board of Directors and the Supervisory Committee, the former
board chairman Zhong Xincai, the former supervisor Yang Xudong and the former financial
manager Wang Shuqiong stepped down from their posts. As a result, the non-restricted shares held
by the said three persons became restricted in the statutory period.
（3）Due to his position as a supervisor, 75% of the shares held by Zhang Xuequan were locked up
as required.
（4）Due to (2) and (3) above, the restricted shares held by senior management staff increased by
259,831 shares.
（5）Because it had been over 6 months since the resignation of the former vice GM Zhao Yong, his
previously restricted 8,700 shares all became non-restricted.
（6）Thus, 251,131 restricted shares increased to the shares held by senior management staff in the
reporting period.
Approval of the change in shares
√Applicable □Inapplicable
Upon the review and approval of Shenzhen Stock Exchange and the Shenzhen branch of China
Securities Depository and Clearing Co., Ltd., the previously restricted 1,228,271 shares became
tradable on 8 Mar. 2013 (for details, see the ―Suggestive Announcement No. 2013-003 on
Unlocking Restricted Shares‖ disclosed on www.cninfo.com.cn dated 6 Mar. 2013).
Transfer of share ownership
□ Applicable √ Inapplicable
Effects of the change in shares on the basic EPS, diluted EPS, net assets per share attributable to
common shareholders of the Company and other financial indexes over the last year and last period
□ Applicable √ Inapplicable
Other contents that the Company considered necessary or were required by the securities regulatory
authorities to disclose
□ Applicable √ Inapplicable
Change of the total shares, shareholder structure, asset structure and liability structure
□ Applicable √ Inapplicable
35
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
II. Total number of shareholders and their shareholdings
Unit: share
Total number of shareholders at the
149,214
end of the reporting period
Particulars about shares held by shareholders with a shareholding percentage over 5%
Increase/de Pledged or frozen shares
Number of
Shareholdin Total shares crease Number of
Name of Nature of non-restricte
g percentage held at the during the restricted Status of Number of
shareholder shareholder d shares
(%) period-end reporting shares held shares shares
held
period
OSRAM Holding
Foreign
Company 13.47% 131,815,685 0 131,815,685 0
corporation
Limited
Prosperity Lamps
Foreign
& Components 10.5% 102,751,648 0 0 102,751,648
corporation
Limited
DBS VICKERS
(HONK KONG) Foreign
1.61% 15,721,395 1,162,901 0 15,721,395
LTD A/C corporation
CLIENTS
EAST ASIA
SECURITIES Foreign
0.97% 9,527,080 0 0 9,527,080
COMPANY corporation
LIMITED
Taifook
Securities
Foreign
Company 0.97% 9,495,511 -1,010,701 0 9,495,511
corporation
Limited-Account
Client
Zhuang Jianyi Foreign natural
0.85% 8,324,132 0 0 8,324,132
person
Guangzhou
Domestic
Prosperity Lamps
non-state-owne 0.57% 5,586,815 0 0 5,586,815
& Components
d corporation
Trade Co., Ltd.
Domestic
Zhang Yuan 0.5% 4,900,000 -4,700,001 0 4,900,000
natural person
BBH A/C Foreign
0.47% 4,592,770 0 4,592,770
VANGUARD corporation
36
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
EMERGING
MARKETS
STOCK INDEX
FUND
Qiu Shijie Domestic
0.4% 3,880,000 0 3,880,000
natural person
Strategic investor or general
corporation becoming a top ten
Naught
shareholder due to placing of new
shares (if any) (see Note 3)
Among the top ten shareholders of the Company, Prosperity Lamps & Components Limited and
Explanation on associated
Zhuang Jianyi were related parties and acting-in-concert parties. Apart from that, it‘s unknown
relationship or/and persons acting
whether there was any associated relationship among other shareholders of the top ten
in concert among the
shareholders, or whether there is any action-in-concert among them regarding to Administrative
above-mentioned shareholders
Measures on Acquisition of Listed Companies.
Particulars about shareholdings of the top ten shareholders holding non-restricted shares
Number of non-restricted shares held at the Type of shares
Name of shareholder
period-end Type Number
Prosperity Lamps & Components
102,751,648 RMB ordinary share 102,751,648
Limited
DBS VICKERS (HONK KONG) Domestically listed
15,721,395 15,721,395
LTD A/C CLIENTS foreign shares
EAST ASIA SECURITIES Domestically listed
9,527,080 9,527,080
COMPANY LIMITED foreign shares
Taifook Securities Company Domestically listed
9,495,511 9,495,511
Limited-Account Client foreign shares
Zhuang JianYi Domestically listed
8,324,132 8,324,132
foreign shares
Guangzhou Prosperity Lamps &
5,586,815 RMB ordinary share 5,586,815
Components Trade Co., Ltd.
Zhang Yuan 4,900,000 RMB ordinary share 4,900,000
BBH A/C VANGUARD
Domestically listed
EMERGING MARKETS STOCK 4,592,770 4,592,770
foreign shares
INDEX FUND
Qiu Shijie
3,880,000 RMB ordinary share 3,880,000
Hou Chunhu Domestically listed
3,813,717 3,813,717
foreign shares
Explanation on associated Among the top ten shareholders of the Company, Prosperity Lamps & Components Limited
37
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
relationship or/and persons acting in and Zhuang Jianyi were related parties and acting-in-concert parties. Apart from that, it‘s
concert among the top ten tradable unknown whether there was any associated relationship among other shareholders of the top
shareholders and between the top ten ten shareholders, or whether there is any action-in-concert among them regarding to
tradable shareholders and the top ten Administrative Measures on Acquisition of Listed Companies.
shareholders
Explanation on shareholders
participating in the margin trading Naught
business (if any) (see Note 4)
Did any shareholder of the Company carry out an agreed buy-back in the reporting period?
□ Yes √ No
III. Change of the controlling shareholder or the actual controller
Change of the controlling shareholder in the reporting period
□ Applicable √ Inapplicable
Change of the actual controller in the reporting period
□ Applicable √ Inapplicable
38
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
VII. Directors, Supervisors & Senior Management Staff
I. Shareholding changes of directors, supervisors and senior management staff
√Applicable □Inapplicable
Restricted
Shareholdin Shareholdin Restricted
shares Restricted
Shareholdin g increase g decrease Shareholdin shares held
granted shares held
Current/for g at the during this during this g at the at the
Name Position during this at the
mer period-begi reporting reporting period-end period-
reporting period- end
n (share) period period (share) begin
period (share)
(share) (share) (share)
(share)
Chairman
Pan Jie Current 0 0 0 0 0 0 0
of the Board
Vice
Liu Chairman
Current 351,280 0 0 351,280 0 0 0
Xingming and General
Manager
Wu
Director Current 0 0 0 0 0 0 0
Shengbo
Werner
Jrgen
Director Current 0 0 0 0 0 0 0
Dietrich
Hoffmann
Yang Jianhu Director Current 0 0 0 0 0 0 0
Ye Zaiyou Director Current 0 0 0 0 0 0 0
Liu Independent
Current 0 0 0 0 0 0 0
Zhenping Director
Dou Independent
Current 0 0 0 0 0 0 0
Linping Director
Xue Independent
Current 0 0 0 0 0 0 0
Yizhong Director
Chairman
Jiao of the
Current 22,880 0 0 22,880 0 0 0
Zhigang Supervisory
Committee
Ye
Supervisor Current 20,560 0 0 20,560 0 0 0
Zhenghong
39
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Zhang
Supervisor Current 6,400 0 0 6,400 0 0 0
Xuequan
Zhuang
Supervisor Current 0 0 0 0 0 0 0
Rujia
Zhang
Supervisor Current 0 0 0 0 0 0 0
Yingqi
Company
Lin Yihui Current 0 0 0 0 0 0 0
Secretary
Xie Qing Vice GM Current 12,950 0 0 12,950 0 0 0
Wei Bin Vice GM Current 15,684 0 0 15,684 0 0
Yin
CFO Current 0 0 0 0 0 0 0
Jianchun
Zhong Chairman
Former 876,206 0 0 876,206
Xincai of the Board
Michel
Jean-paul Director Former 0 0 0 0 0 0 0
Henri
Yang
Supervisor Former 3,900 0 0 3,900
Xudong
Wang Financial
Former 140,013 0 0 140,013 0 0 0
Shuqiong Manager
Zhou Company
Former 0 0 0 0 0 0 0
Xiangfeng Secretary
Total 1,449,873 0 0 1,449,873 0 0 0
II. Appointment, resignation and dismissal of directors, supervisors and senior management
staff of the Company
Name Position Type Date Reason
Chairman of the Elected as the Chairman for the 7th Board of Directors on
Pan Jie Elected 28 May 2013
Board re-election of the board
Elected as the Vice Chairman for the 7th Board of
Vice Chairman
Liu Xingming Elected 28 May 2013 Directors on re-election of the board and appointed as the
and GM
GM at the same time
Elected as a director for the 7th Board of Directors on
Wu Shengbo Director Elected 28 May 2013
re-election of the board
Werner Jrgen Elected as a director for the 7th Board of Directors on
Director Elected 28 May 2013
Dietrich re-election of the board
40
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Hoffmann
Elected as a director for the 7th Board of Directors on
Yang Jianhu Director Elected 28 May 2013
re-election of the board
Elected as a director for the 7th Board of Directors on
Ye Zaiyou Director Elected 28 May 2013
re-election of the board
Independent Elected as an independent director for the 7th Board of
Liu Zhenping Elected 28 May 2013
director Directors on re-election of the board
Independent Elected as an independent director for the 7th Board of
Dou Linping Elected 28 May 2013
director Directors on re-election of the board
Independent Elected as an independent director for the 7th Board of
Xue Yizhong Elected 28 May 2013
director Directors on re-election of the board
Chairman of the
Elected as the Chairman for the 7th Supervisory
Jiao Zhigang Supervisory Elected 28 May 2013
Committee on re-election of the committee
Committee
Elected as a supervisor for the 7th Supervisory Committee
Ye Zhenghong Supervisor Elected 21 May 2013
on re-election of the committee
Elected as a supervisor for the 7th Supervisory Committee
Zhang Xuequan Supervisor Elected 21 May 2013
on re-election of the committee
Elected as a supervisor for the 7th Supervisory Committee
Zhuang Rujia Supervisor Elected 28 May 2013
on re-election of the committee
Elected as a supervisor for the 7th Supervisory Committee
Zhang Yingqi Supervisor Elected 28 May 2013
on re-election of the committee
Company Appointed as the Company Secretary after the re-election
Lin Yihui Employment 28 May 2013
secretary of the Board of Directors
Appointed as a vice GM after the re-election of the Board
Xie Qing Vice GM Employment 28 May 2013
of Directors
Appointed as a vice GM after the re-election of the Board
Wei Bin Vice GM Employment 28 May 2013
of Directors
Appointed as the CFO after the re-election of the Board
Yin Jianchun CFO Employment 28 May 2013
of Directors
Departure
Chairman of the upon Left the post as his office term in the Board of Directors
Zhong Xincai 28 May 2013
Board expiration of expired
the office term
Departure
Michel Jean-paul
upon Left the post as his office term in the Board of Directors
Henri ( Mr. Ming Director 28 May 2013
expiration of expired
Pengbo)
the office term
Yang Xudong Supervisor Departure 21 May 2013 Left the post as his office term in the Supervisory
41
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
upon Committee expired
expiration of
the office term
Departure
Financial upon
Wang Shuqiong 28 May 2013 Left the post as her office term expired
manager expiration of
the office term
Departure
Vice GM and
upon
Zhou Xiangfeng Company 28 May 2013 Left the post as his office term expired
expiration of
secretary
the office term
42
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
VIII. Financial Report
I. Audit report
Has this semi-annual report been audited?
□ Yes √ No
The semi-annual financial report has not been audited.
II. Financial statements
Currency unit for the statements in the notes to these financial statements: RMB Yuan
1. Consolidated balance sheet
Prepared by Foshan Electrical and Lighting Co., Ltd.
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 736,404,066.66 985,450,890.74
Settlement reserves
Intra-group lendings
Transactional financial assets 3,943,027.30 4,012,728.75
Notes receivable 150,179,224.30 175,907,019.08
Accounts receivable 550,624,462.21 334,006,892.19
Accounts paid in advance 83,522,308.86 12,383,426.98
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract
reserves
Interest receivable 780,921.73 530,542.81
Dividend receivable
Other accounts receivable 70,243,222.42 56,196,390.54
Financial assets purchased under
agreements to resell
Inventories 499,825,772.83 434,541,386.19
Non-current assets due within 1 year
Other current assets 16,477,687.08 2,935,179.47
43
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Total current assets 2,112,000,693.39 2,005,964,456.75
Non-current assets:
Loans by mandate and advances
granted
Available-for-sale financial assets 67,343,756.48 71,817,642.40
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 517,382,658.15 519,693,431.95
Investing property
Fixed assets 511,767,056.50 539,145,022.38
Construction in progress 83,846,379.25 95,684,569.86
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 162,446,457.07 150,424,391.76
R&D expense
Goodwill
Long-term deferred expenses
Deferred income tax assets 18,868,854.20 23,003,056.72
Other non-current assets 43,299,200.54 42,541,730.00
Total of non-current assets 1,404,954,362.19 1,442,309,845.07
Total assets 3,516,955,055.58 3,448,274,301.82
Current liabilities:
Short-term borrowings
Borrowings from Central Bank
Customer bank deposits and due to
banks and other financial institutions
Intra-group borrowings
Transactional financial liabilities
Notes payable
Accounts payable 461,746,849.65 246,652,513.45
Accounts received in advance 61,854,798.34 19,632,316.50
Financial assets sold for repurchase
Handling charges and commissions
44
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
payable
Employee‘s compensation payable 44,224,504.68 63,086,369.68
Tax payable 52,471,741.72 58,992,047.62
Interest payable
Dividend payable
Other accounts payable 28,837,844.99 37,085,568.58
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 649,135,739.38 425,448,815.83
Non-current liabilities:
Long-term borrowings
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities 5,597,742.01 6,268,824.89
Other non-current liabilities 19,191,441.69 19,353,441.69
Total non-current liabilities 24,789,183.70 25,622,266.58
Total liabilities 673,924,923.08 451,071,082.41
Owners‘ equity (or shareholders‘
equity)
Paid-up capital (or share capital) 978,563,745.00 978,563,745.00
Capital reserves 621,792,954.03 625,595,757.07
Less: Treasury stock
Specific reserves
Surplus reserves 622,494,531.96 622,494,531.96
Provisions for general risks
Retained profits 573,145,472.56 723,452,942.14
45
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Foreign exchange difference
Total equity attributable to owners of
2,795,996,703.55 2,950,106,976.17
the Company
Minority interests 47,033,428.95 47,096,243.24
Total owners‘(or shareholders‘) equity 2,843,030,132.50 2,997,203,219.41
Total liabilities and owners‘ (or
3,516,955,055.58 3,448,274,301.82
shareholders‘) equity
Legal representative: Pan Jie Chief of the accounting work: Liu Xingming Chief of the accounting organ: Yin Jianchun
2. Balance sheet of the Company
Prepared by Foshan Electrical and Lighting Co., Ltd.
Unit: RMB Yuan
Item Closing balance Opening balance
Current Assets:
Monetary funds 429,905,060.78 699,511,754.78
Transactional financial assets 3,943,027.30 4,012,728.75
Notes receivable 146,279,224.30 167,509,926.71
Accounts receivable 605,078,759.91 362,956,611.71
Accounts paid in advance 73,534,280.53 12,705,111.19
Interest receivable
Dividend receivable
Other accounts receivable 97,807,543.73 82,043,309.37
Inventories 455,395,530.41 389,680,405.66
Non-current assets due within 1 year
Other current assets 3,518,940.04 2,935,179.47
Total current assets 1,815,462,367.00 1,721,355,027.64
Non-current assets:
Available-for-sale financial assets 67,343,756.48 71,817,642.40
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 882,866,195.38 880,176,969.18
Investing property
Fixed assets 406,314,341.24 443,001,716.36
Construction in progress 68,440,869.35 66,216,618.10
46
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 142,327,674.27 130,800,094.82
R&D expense
Goodwill
Long-term deferred expenses
Deferred income tax assets 16,682,635.50 20,724,220.91
Other non-current assets 43,524,515.59 41,783,700.00
Total of non-current assets 1,627,499,987.81 1,654,520,961.77
Total assets 3,442,962,354.81 3,375,875,989.41
Current liabilities:
Short-term borrowings
Transactional financial liabilities
Notes payable
Accounts payable 495,625,286.36 265,603,565.11
Accounts received in advance 61,721,134.62 19,586,999.28
Employee‘s compensation payable 44,204,138.68 63,084,499.68
Tax payable 44,491,476.88 58,950,265.18
Interest payable
Dividend payable
Other accounts payable 30,498,209.50 38,631,089.33
Non-current liabilities due within 1
year
Other current liabilities
Total current liabilities 676,540,246.04 445,856,418.58
Non-current liabilities:
Long-term borrowings
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities 5,597,742.01 6,268,824.89
47
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Other non-current liabilities 10,133,941.75 10,218,441.73
Total non-current liabilities 15,731,683.76 16,487,266.62
Total liabilities 692,271,929.80 462,343,685.20
Owners‘ equity (or shareholders‘
equity)
Paid-up capital (or share capital) 978,563,745.00 978,563,745.00
Capital reserves 618,692,127.09 622,494,930.13
Less: Treasury stock
Specific reserves
Surplus reserves 622,494,531.96 622,494,531.96
Provisions for general risks
Retained profits 530,940,020.96 689,979,097.12
Foreign exchange difference
Total owners‘ (or shareholders‘) equity
2,750,690,425.01 2,913,532,304.21
Total liabilities and owners‘ (or
3,442,962,354.81 3,375,875,989.41
shareholders‘) equity
Legal representative: Pan Jie Chief of the accounting work: Liu Xingming Chief of the accounting organ: Yin Jianchun
3. Consolidated income statement
Prepared by Foshan Electrical and Lighting Co., Ltd.
Unit: RMB Yuan
Item Jan.-Jun. 2013 Jan.-Jun 2012
I. Total operating revenues 1,208,260,446.06 1,064,337,124.25
Including: Sales income 1,208,260,446.06 1,064,337,124.25
Interest income
Premium income
Handling charge and
commission income
II. Total operating cost 1,075,626,585.36 919,922,209.19
Including: Cost of sales 925,675,209.12 792,978,460.81
Interest expenses
Handling charge and
commission expenses
Surrenders
48
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Net claims paid
Net amount withdrawn for the
insurance contract reserve
Expenditure on policy dividends
Reinsurance premium
Taxes and associate charges 13,697,631.32 10,426,957.03
Selling and distribution expenses 44,431,240.08 46,953,881.19
Administrative expenses 77,932,401.53 75,564,365.47
Financial expenses -3,963,817.89 -7,159,594.18
Asset impairment loss 17,853,921.20 1,158,138.87
Add: Gain/(loss) from change in fair
-69,701.45 64,722.78
value (―-‖ means loss)
Gain/(loss) from investment (―-‖
-945,061.26 16,484,342.95
means loss)
Including: share of profits in associates
-2,310,773.80 -1,218,791.19
and joint ventures
Foreign exchange gains (―-‖ means
loss)
III. Business profit (―-‖ means loss) 131,619,097.99 160,963,980.79
Add: non-operating income 71,680,160.17 883,683.34
Less: non-operating expense 10,700,438.83 2,481,216.29
Including: loss from non-current asset
908,276.06 119,256.76
disposal
IV. Total profit (―-‖ means loss) 192,598,819.33 159,366,447.84
Less: Income tax expense 39,614,342.25 25,616,659.61
V. Net profit (―-‖ means loss) 152,984,477.08 133,749,788.23
Including: Net profit achieved by
combined parties before the 0.00 0.00
combinations
Attributable to owners of the
153,047,291.37 134,522,943.15
Company
Minority shareholders‘ income -62,814.29 -773,154.92
VI. Earnings per share -- --
(I) Basic earnings per share 0.16 0.14
(II) Diluted earnings per share 0.16 0.14
Ⅶ. Other comprehensive incomes -3,802,803.04 -200,147.53
49
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Ⅷ. Total comprehensive incomes 149,181,674.04 133,549,640.70
Attributable to owners of the
149,244,488.33 134,322,795.62
Company
Attributable to minority
-62,814.29 -773,154.92
shareholders
Legal representative: Pan Jie Chief of the accounting work: Liu Xingming Chief of the accounting organ: Yin Jianchun
4. Income statement of the Company
Prepared by Foshan Electrical and Lighting Co., Ltd.
Unit: RMB Yuan
Item Jan.-Jun. 2013 Jan.-Jun 2012
I. Total sales 1,223,393,705.32 1,052,015,761.72
Less: cost of sales 960,725,666.05 795,594,113.34
Business taxes and surcharges 11,627,281.00 9,134,465.77
Distribution expenses 43,727,705.08 45,486,876.29
Administrative expenses 73,053,854.25 62,956,801.15
Financial costs -621,497.90 -3,130,496.10
Impairment loss 16,165,237.79 902,614.65
Add: gain/(loss) from change in fair
-69,701.45 64,722.78
value (―-‖ means loss)
Gain/(loss) from investment (―-‖ means
-2,324,333.77 16,886,055.17
loss)
Including: income form investment on
-2,310,773.80 -1,218,791.19
associates and joint ventures
II. Business profit (―-‖ means loss) 116,321,423.83 158,022,164.57
Add: non-business income 71,489,414.54 777,963.24
Less: non-business expense 9,340,695.22 2,426,866.10
Including: loss from non-current asset
908,276.06
disposal
III. Total profit (―-‖ means loss) 178,470,143.15 156,373,261.71
Less: income tax expense 34,154,458.36 23,262,776.08
IV. Net profit (―-‖ means loss) 144,315,684.79 133,110,485.63
V. Earnings per share -- --
(I) Basic earnings per share
(II) Diluted earnings per share
50
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
VI. Other comprehensive income -3,802,803.04 -200,147.53
VII. Total comprehensive income 140,512,881.75 132,910,338.10
Legal representative: Pan Jie Chief of the accounting work: Liu Xingming Chief of the accounting organ: Yin Jianchun
5. Consolidated cash flow statement
Prepared by Foshan Electrical and Lighting Co., Ltd.
Unit: RMB Yuan
Item Jan.-Jun. 2013 Jan.-Jun 2012
I. Cash flows from operating activities:
Cash received from sale of
1,172,739,056.38 1,088,693,196.26
commodities and rendering 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 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 4,267,457.30 31,631,469.58
Other cash received relating to
31,153,008.64 10,048,037.45
operating activities
Subtotal of cash inflows from operating
1,208,159,522.32 1,130,372,703.29
activities
Cash paid for goods and services 736,896,903.91 563,256,522.79
51
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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 207,027,929.97 166,066,086.16
Various taxes paid 145,930,301.44 103,675,839.11
Other cash payment relating to
106,592,134.39 62,888,740.40
operating activities
Subtotal of cash outflows from
1,196,447,269.71 895,887,188.46
operating activities
Net cash flows from operating activities 11,712,252.61 234,485,514.83
II. Cash flows from investing activities:
Cash received from withdrawal of
41,710,000.00
investments
Cash received from return on
1,365,712.54 17,703,134.14
investments
Net cash received from disposal of
fixed assets, intangible assets and other 24,189,200.00
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 from
67,264,912.54 17,703,134.14
investing activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 41,936,669.95 16,823,879.55
assets
Cash paid for investment
Net increase of pledged loans
Net cash paid to acquire subsidiaries
and other business units
52
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Other cash payments relating to
investing activities
Subtotal of cash outflows from
41,936,669.95 16,823,879.55
investing activities
Net cash flows from investing activities 25,328,242.59 879,254.59
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Including: Cash received from
minority shareholder investments by
subsidiaries
Cash received from 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
284,036,742.40 26,780.81
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
284,036,742.40 26,780.81
financing activities
Net cash flows from financing activities -284,036,742.40 -26,780.81
IV. Effect of foreign exchange rate
-2,050,576.88 237,375.56
changes on cash and cash equivalents
V. Net increase in cash and cash
-249,046,824.08 235,575,364.17
equivalents
Add: Opening balance of cash and
985,450,890.74 690,691,751.15
cash equivalents
VI. Closing balance of cash and cash
736,404,066.66 926,267,115.32
equivalents
Legal representative: Pan Jie Chief of the accounting work: Liu Xingming Chief of the accounting organ: Yin Jianchun
53
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
6. Cash flow statement of the Company
Prepared by Foshan Electrical and Lighting Co., Ltd.
Unit: RMB Yuan
Item Jan.-Jun. 2013 Jan.-Jun 2012
I. Cash flows from operating activities:
Cash received from sale of
1,158,623,534.80 1,056,475,585.78
commodities and rendering of service
Tax refunds received 4,267,457.30 31,631,469.58
Other cash received relating to
27,298,534.13 7,305,933.03
operating activities
Subtotal of cash inflows from operating
1,190,189,526.23 1,095,412,988.39
activities
Cash paid for goods and services 796,901,956.65 570,370,649.60
Cash paid to and for employees 169,614,592.87 145,150,128.43
Various taxes paid 123,599,675.65 80,361,997.07
Other cash payment relating to
104,395,965.90 95,924,424.54
operating activities
Subtotal of cash outflows from
1,194,512,191.07 891,807,199.64
operating activities
Net cash flows from operating activities -4,322,664.84 203,605,788.75
II. Cash flows from investing activities:
Cash received from retraction of
50,330,727.49
investments
Cash received from return on
1,365,712.54 17,703,134.14
investments
Net cash received from disposal of
fixed assets, intangible assets and other 24,189,200.00
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 from
75,885,640.03 17,703,134.14
investing activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 40,082,349.91 12,988,432.60
assets
54
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Cash paid for investment 15,000,000.00
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
investing activities
Subtotal of cash outflows from
55,082,349.91 12,988,432.60
investing activities
Net cash flows from investing activities 20,803,290.12 4,714,701.54
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Cash received from borrowings
Cash received from issuance of
bonds
Other cash received relating to
financing activities
Subtotal of cash inflows from financing
0.00 0.00
activities
Repayment of borrowings
Cash paid for interest expenses and
284,036,742.40
distribution of dividends or profit
Other cash payments relating to
financing activities
Sub-total of cash outflows from
284,036,742.40
financing activities
Net cash flows from financing activities -284,036,742.40
IV. Effect of foreign exchange rate
-2,050,576.88 237,353.63
changes on cash and cash equivalents
V. Net increase in cash and cash
-269,606,694.00 208,557,843.92
equivalents
Add: Opening balance of cash and
699,511,754.78 412,626,723.50
cash equivalents
VI. Closing balance of cash and cash
429,905,060.78 621,184,567.42
equivalents
Legal representative: Pan Jie Chief of the accounting work: Liu Xingming Chief of the accounting organ: Yin Jianchun
55
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
7. Consolidated Statement of Changes in Owners’ Equity
Prepared by Foshan Electrical and Lighting Co., Ltd.
Jan.-Jun. 2013
Unit: RMB Yuan
Jan.-Jun. 2013
Equity attributable to owners of the Company
Paid-up
Total
Item capital Minority
Less: General
Capital Specific Surplus Retaine owners‘
(or treasury risk Others interests
reserve reserve reserve d profit equity
share stock reserve
capital)
I. Balance at the end of the 978,563 625,595, 622,494 723,452, 47,096,24 2,997,203,
previous year ,745.00 757.07 ,531.96 942.14 3.24 219.41
Add: change of accounting
policy
Correction of errors in
previous periods
Other
II. Balance at the beginning of 978,563 625,595, 622,494 723,452, 47,096,24 2,997,203,
the year ,745.00 757.07 ,531.96 942.14 3.24 219.41
III. Increase/ decrease in the -3,802,8 -150,30 -62,814.2 -154,173,0
period (―-‖ means decrease) 03.04 7,469.58 9 86.91
-62,814.2
153,047, 152,984,47
(I) Net profit 9
291.37 7.08
(II) Other comprehensive -3,802,8 -3,802,803.
incomes 03.04 04
-62,814.2
-3,802,8 153,047, 149,181,67
Subtotal of (I) and (II) 9
03.04 291.37 4.04
(III) Capital paid in and
reduced by owners
1. Capital paid in by
owners
2. Amounts of share-based
payments recognized in
owners‘ equity
3. Others
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
-303,35 -303,354,7
(IV) Profit distribution
4,760.95 60.95
1. Appropriations to
surplus reserves
2. Appropriations to
general risk provisions
3. Appropriations to -303,35 -303,354,7
owners (or shareholders) 4,760.95 60.95
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
(Ⅵ) Specific reserve
1. Withdrawn for the
period
2. Used in the period
(Ⅶ) Other
978,563 621,792, 622,494 573,145, 47,033,42 2,843,030,
IV. Closing balance
,745.00 954.03 ,531.96 472.56 8.95 132.50
Jan.-Dec. 2012
Unit: RMB Yuan
Jan.-Jun. 2012
Equity attributable to owners of the Company
Paid-up
Total
Item capital Minority
Less: General
Capital Specific Surplus Retaine owners‘
(or treasury risk Others interests
reserve reserve reserve d profit equity
share stock reserve
capital)
I. Balance at the end of the 978,563 622,193, 583,537 606,584, 47,467,03 2,838,345,
previous year ,745.00 249.09 ,290.22 375.02 3.17 692.50
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Add: retrospective
adjustment due to business
combination under the same
control
Add: change of accounting
policy
Correction of errors in
previous periods
Other
II. Balance at the beginning of 978,563 622,193, 583,537 606,584, 47,467,03 2,838,345,
the year ,745.00 249.09 ,290.22 375.02 3.17 692.50
III. Increase/ decrease in the 3,402,50 38,957, 116,868, -370,789. 158,857,52
period (―-‖ means decrease) 7.98 241.74 567.12 93 6.91
400,466, -236,885. 400,229,85
(I) Net profit
745.11 85 9.26
(II) Other comprehensive 3,402,50 3,402,507.
incomes 7.98 98
3,402,50 400,466, -236,885. 403,632,36
Subtotal of (I) and (II)
7.98 745.11 85 7.24
(III) Capital paid in and
reduced by owners
1. Capital paid in by
owners
2. Amounts of share-based
payments recognized in
owners‘ equity
3. Others
38,957, -283,59 -133,904. -244,774,8
(IV) Profit distribution
241.74 8,177.99 08 40.33
1. Appropriations to 38,957, -38,957,
surplus reserves 241.74 241.74
2. New increase of capital
(or share capital) from surplus
reserves
3. Surplus reserves for -244,64 -133,904. -244,774,8
making up losses 0,936.25 08 40.33
4. Other
(Ⅵ) Specific reserve
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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 reserve
1. Withdrawn for the
period
2. Used in the period
(Ⅶ) Other
978,563 625,595, 622,494 723,452, 47,096,24 2,997,203,
IV. Closing balance
,745.00 757.07 ,531.96 942.14 3.24 219.41
Legal representative: Pan Jie Chief of the accounting work: Liu Xingming Chief of the accounting organ: Yin Jianchun
8. Statement of Changes in Owners’ Equity of the Company
Prepared by Foshan Electrical and Lighting Co., Ltd.
Jan.-Jun. 2013
Unit: RMB Yuan
Jan.-Jun. 2013
Paid-up
Less: General Total
Item capital (or Capital Specific Surplus Retained
treasury risk owners‘
share reserve reserve reserve profit
stock reserve equity
capital)
I. Balance at the end of the 978,563,74 622,494,93 622,494,53 689,979,09 2,913,532,
previous year 5.00 0.13 1.96 7.12 304.21
Add: change of accounting
policy
Correction of errors in
previous periods
Other
II. Balance at the beginning of 978,563,74 622,494,93 622,494,53 689,979,09 2,913,532,
the year 5.00 0.13 1.96 7.12 304.21
III. Increase/ decrease in the -3,802,803. -159,039,0 -162,841,8
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
period (―-‖ means decrease) 04 76.16 79.20
144,315,68 144,315,68
(I) Net profit
4.79 4.79
(II) Other comprehensive -3,802,803. -3,802,803.
incomes 04 04
-3,802,803. 144,315,68 140,512,88
Subtotal of (I) and (II)
04 4.79 1.75
(III) Capital paid in and
reduced by owners
1. Capital paid in by owners
2. Amounts of share-based
payments recognized in owners‘
equity
3. Others
-303,354,7 -303,354,7
(IV) Profit distribution
60.95 60.95
1. Appropriations to surplus
reserves
2. Appropriations to general
risk provisions
3. Appropriations to owners -303,354,7 -303,354,7
(or shareholders) 60.95 60.95
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
(Ⅵ) Specific reserve
1. Withdrawn for the period
2. Used in the period
(Ⅶ) Other
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
978,563,74 618,692,12 622,494,53 530,940,02 2,750,690,
IV. Closing balance
5.00 7.09 1.96 0.96 425.01
Jan.-Dec. 2012
Unit: RMB Yuan
Jan.-Jun. 2012
Paid-up
Less: General Total
Item capital (or Capital Specific Surplus Retained
treasury risk owners‘
share reserve reserve reserve profit
stock reserve equity
capital)
I. Balance at the end of the 978,563,7 619,092,4 583,537,2 584,004,8 2,765,198
previous year 45.00 22.15 90.22 57.71 ,315.08
Add: change of accounting
policy
Correction of errors in
previous periods
Other
II. Balance at the beginning of 978,563,7 619,092,4 583,537,2 584,004,8 2,765,198
the year 45.00 22.15 90.22 57.71 ,315.08
III. Increase/ decrease in the 3,402,507 38,957,24 105,974,2 148,333,9
period (―-‖ means decrease) .98 1.74 39.41 89.13
389,572,4 389,572,4
(I) Net profit
17.40 17.40
(II) Other comprehensive 3,402,507 3,402,507
incomes .98 .98
3,402,507 389,572,4 392,974,9
Subtotal of (I) and (II)
.98 17.40 25.38
(III) Capital paid in and
reduced by owners
1. Capital paid in by owners
2. Amounts of share-based
payments recognized in owners‘
equity
3. Others
38,957,24 -283,598, -244,640,
(IV) Profit distribution
1.74 177.99 936.25
1. Appropriations to surplus 38,957,24 -38,957,2
reserves 1.74 41.74
2. Appropriations to general
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
risk provisions
3. Appropriations to owners -244,640, -244,640,
(or shareholders) 936.25 936.25
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
(Ⅵ) Specific reserve
1. Withdrawn for the period
2. Used in the period
(Ⅶ) Other
978,563,7 622,494,9 622,494,5 689,979,0 2,913,532
IV. Closing balance
45.00 30.13 31.96 97.12 ,304.21
Legal representative: Pan Jie Chief of the accounting work: Liu Xingming Chief of the accounting organ: Yin Jianchun
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(Ⅲ) Company Profile
Company history
Foshan Electrical & Lighting Co., Ltd. (hereinafter referred to as ―the Company‖), a joint-stock limited company
jointly founded by Foshan Electrical and Lighting Company, Nanhai Wuzhuang Color Glazed Brick Field, and
Foshan Poyang Printing Industrial Co. on Oct. 20, 1992 by raising funds under the approval of YGS (1992) No.
63 Document issued by the Joint Examination Group for Experimental Enterprises in Stock System of Guangdong
Province and the Economic System Reform Commission of Guangdong Province, is an enterprise with its shares
held by both the corporate and the natural persons. As approved by China Securities Regulatory Commission with
Document (1993) No. 33, the Company publicly issued 19.3 million shares of social public shares (A shares) to
the public in Oct., 1993, and was listed in Shenzhen Stock Exchange for trade on Nov. 23, 1993. The Company
was approved to issue 50,000,000 B shares on Jul. 23, 1995. And, as approved to change into a foreign-invested
stock limited company on Aug. 26, 1996 by (1996) WJMZEHZ No. 466 Document issued by the Ministry of
Foreign Trade and Economic Cooperation of the People‘s Republic of China. On Dec. 11, 2000, as approved by
China Securities Regulatory Commission with ZJGS Zi [2000] No. 175 Document, the Company additionally
issued 55,000,000 A shares. At approved by the Shareholders‘ General Meeting 2006, 2007 and 2008, the
Company implemented the plan of capitalization of capital reserve, after the transfer, the registered capital of the
Company has increased to RMB 978,563,745.00 Yuan. And the registration code for corporate business license is
QGYZZ No. 002889.
Legal representative: Mr. Pan Jie
Address: No. 64, Fenjiang North Road, Foshan, Guangdong Province
Business scope of the Company
R&D and production of electro-optical source products, electro-optical source equipment and electro-optical
accessories, electro-optical materials, lamps and components, electrical engineering materials, accessories for
motor vehicles, household appliances, electrical switches, outlet, fire fighting products, ventilation equipment,
LED products, lithium-ion battery and other materials, sale of those products on both the domestic and overseas
markets, and the relevant engineering consultation service. The main products of the Company include all kinds of
electro-optical source products.
Basic organizational structure of the Company
Shareholders‘ General Meeting is the highest authority organ of the Company, Board of Directors is an executive
organ to carry out the provisions formulated by the Shareholders‘ General Meeting, Board of supervisors is an
internal supervision organ of the Company, and the General Manager is responsible for routine operation and
management. Up till the end of the reporting period, the Company owns nine actually controlled subsidiaries, i.e.
Foshan Chanchang Electric Appliance (Gaoming) Co., Ltd., Foshan Chansheng Electronic Ballast Co., Ltd.,
Foshan Taimei Times Lamps and Lanterns Co., Nanjing Fozhao Lighting Components Co., Ltd., FSL (Xinxiang)
Lighting Co., Ltd., Foshan Lighting Lamps and Lanterns Co., Ltd., Qinghai Fozhao Lithium Ion Battery Cathode
Materials Co., Ltd., Foshang Lighting Components Co., Ltd. and Guangdong Fozhao Leasing Co., Ltd..
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
( Ⅳ ) Main accounting policies, accounting estimates and corrections of prior
accounting errors
1. Basis for preparation of financial statements
With going-concern assumption as the basis, the Company prepares its financial statement in light of the actual
transactions and matters, as well as the accounting standard for business enterprise-basic standard promulgated by
the Ministry of Finance of PRC in 15 Feb. 2006, other specific accounting standards, and the relevant provisions
of application guide and interpretation, as well as the following primary accounting policies and accounting
estimates.
2. Statement of compliance with Corporate Accounting Standards
The financial statements prepared by the Company is in compliance with the requirements of Accounting Standard
for Business Enterprises, which gives a true and fair view of the state of affairs of the Company as for the
financial status and operating results & cash flows.
3. Accounting period
A fiscal year starts on 1 January and ends on 31 Dec. according to the Gregorian calendar.
4. Recording currency
Renminbi is the recording currency for the Company.
5. Measurement method for the business combination under the same control and business combination not
under the same control
(1) Business combination under the same control
In a business combination under the same control, the assets and liabilities that the combining party obtains in a
business combination shall be measured on the basis of their carrying amount in the combined party on the
combining date. As for the balance between the carrying amount of the net assets obtained by the combining party
and the carrying amount of the consideration paid by it, the additional paid-in capital shall be adjusted. If the
additional paid-in capital is not sufficient to be offset, the retained earnings shall be adjusted.
(2) Business combination not under the same control
In a business combination not under the same control, the combination costs shall be the fair values, on the
acquisition date, of the assets paid, the liabilities incurred or assumed and the equity securities issued by the
acquirer in exchange for the control on the acquiree. The positive balance between the combination costs and the
fair value of the identifiable net assets it obtains from the acquiree shall be recognized as goodwill. The negative
balance between the combination costs and the fair value of the identifiable net assets it obtains from the acquiree
shall be recorded into the profits and losses of the current period after the reexamination.
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
6. Preparation methods for consolidated financial statements
(1) Preparation methods for consolidated financial statements
The scope of consolidation of consolidated financial statements shall include the Company and all its subsidiaries.
The operating outcomes and financial status of the subsidiaries shall be included in the consolidated financial
statements from start date of the control to end date of the control.
The subsidiaries that the Company obtains due to business combination under the same control shall be included
into the scope of consolidation when preparing the consolidated financial statements of the current period, and the
beginning balance in the consolidated financial statement and prior comparison sheet shall be adjusted
accordingly.
As for the subsidiaries that the Company obtains due to business combination not under the same control, their
financial statements shall be adjusted based on the fair value of each identifiable asset and liability determined on
the combining date when preparing the consolidated financial statements of the current period. Such combined
subsidiaries shall be included into the scope of consolidation from the combining date.
If the accounting period and accounting policies adopted by a subsidiary are different from those adopted by the
Company, when preparing the consolidated financial statement, necessary adjustments shall be made to the
financial statements of the subsidiary under the accounting period and accounting policies adopted by the
Company. Within the scope of consolidation, all significant transactions between the enterprises, balance and
unrealized profits and losses shall be offset when preparing the consolidated financial statement. As for the
unrealized losses occurred in the internal transaction, if there is an evidence shows that such loss is impairment
loss on relevant assets, it shall not be offset. The equity and profits & losses attributable to minority shareholders
of the subsidiary shall be particularly presented in the item of ―shareholder‘s equity‖ in the consolidated balance
sheets and in the item of ―net profit‖ in the consolidated income statement respectively.
(2) Relevant accounting method shall be revealed for the equity of a same subsidiary purchased and sold in
successive two fiscal years
Naught
7. Recognition standards for cash and cash equivalents
The term ―cash equivalents‖ refers to short-term ( within 3 months from the purchase date) and highly liquid
investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of
change in value.
8. Foreign currency and accounting method for foreign currency
(1) Foreign currency
Foreign currency shall be recognized by employing systematic and reasonable methods, and shall be translated
into the amount in the functional currency at the exchange rate which is approximate to the spot exchange rate of
the transaction date. On the balance sheet date, the foreign currency monetary items shall be translated at the spot
exchange rate. The balance of exchange arising from the difference between the spot exchange rate on the balance
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
sheet date and the spot exchange rate at the time of initial recognition or prior tot the balance sheet date shall be
recorded into the profits and losses at the current period except that the balance of exchange arising from foreign
currency borrowings for the purchase and construction or production of qualified assets shall be capitalized. The
foreign currency non-monetary items measured at the historical cost shall still be translated at the spot exchange
rate on the transaction date.
(2) Accounting method for foreign currency
Naught
9. Financial instruments
Financial instruments include financial assets, financial liabilities and equity instruments.
(1) Category of financial instruments
Financial assets shall be classified into the following four categories when they are initially recognized: Financial
assets measured at fair value and of which variations are recorded in the profits and losses for the current period,
loans and the account receivables, financial assets available for sale and the investments which will be held to
their maturity.
Financial liabilities shall be classified into the following two categories when they are initially recognized: (1) the
Trading financial liabilities; and (2) other financial liabilities.
(2) Recognition and Measurement of Financial Liabilities
Financial assets, at their initial recognition, shall be measured at fair value. As for financial assets measured at fair
value and of which variations are recorded in the profits and losses for the current period, the relevant trading
expenses shall be directly recorded into the profits and losses of the current period; for other categories of
financial assets, the transaction expenses thereof shall be included into the initially recognized amount.
Financial assets measured at fair value and of which variations are recorded in the profits and losses for the
current period refer to financial assets held by the Company for the purpose of selling in the near future, including
trading financial assets, or financial assets designated by the management in the initial recognition to be measured
at fair value with variations recorded in the gains and losses for the current period. Financial assets measured at
fair value and of which variations are recorded in the profits and losses for the current period are subsequently
measured at their fair values. Interest or cash dividends arising from such assets during the holing period are
recognized as investment gains. Gains or losses arising from fair value changes are recorded in the gains and
losses for the current period at the end of the reporting period. When such assets are disposed, the difference
between their fair values and initially recognized amounts is recognized as investment gains and the gains and
losses arising from fair value changes are adjusted accordingly.
Loan and accounts receivable: The non-derivative financial assets for which there is no quoted price in the active
market and of which the recoverable amount is fixed or determinable shall be classified as loan and accounts
receivable. The Company shall make subsequent measurement on its loan and accounts receivable on the basis of
the post-amortization costs by adopting the actual interest rate, from which gains and losses, when loan and
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
accounts receivable are terminated from recognizing, or are impaired or amortized, shall be recorded into the
profits and losses of the current period.
Available-for-sale financial assets: the non-derivative financial assets which are designated as available-for-sale
financial assets when they are initially recognized as well as the non-derivative financial assets other than loans
and accounts receivables, investments held until their maturity; and transaction financial assets. The Company
shall make subsequent measurement on available-for-sale financial assets at fair value, and the profits and losses
arising from the change in the fair value shall be directly recorded into the owner‘s equity, until the said financial
assets shall be transferred out when they are terminated from recognizing or are impaired, which shall be recorded
into the profits and losses of current period. Where the intention of holding or the ability to hold changes, or the
fair value can not be reliably measured any more, or the term of holding has exceeded "two complete accounting
years", which makes it no longer suitable to measure the available-for-sale financial assets at its fair value, the
Company concerned may measure the said financial assets on the basis of post-amortization cost. And such
post-amortization cost at the re-classification day shall be the carrying amount of the financial assets. The gains or
losses that are related to the said financial assets and that are directly included in the owner‘s equity shall be dealt
with according to the following provisions: ① Where such financial asset has a fixed date of maturity, it shall be
amortized within the remaining period of the said financial asset by adopting the actual interest rate method and
be recorded into the profits and losses of the current period. The gap between the post-amortization cost of the
financial asset and the amount on the maturity date shall also be amortized within the remaining period of the said
financial asset by adopting the actual interest rate method and be recorded into the profits and losses of the current
period. If, during the subsequent accounting period, the financial asset is impaired, the relevant profits and losses
that were included in the owner‘s equity shall be transferred out and be recorded into the current profits and losses.
② Where such financial asset does not have a fixed date of maturity, it shall remain in the owner‘s equity. Where
such financial asset is transferred out when it is impaired or determined from recognizing during the remaining
period of accounting that follows, and shall be recorded into the profits and losses of the current period
Held-to-maturity Investments: non-derivative financial asset with a fixed date of maturity, a fixed or determinable
recoverable amount and which the Company‘s management holds for a definite purpose or the Company‘s
management is able to hold until its maturity. The Company shall make subsequent measurement on its
Held-to-maturity Investments on the basis of the post-amortization costs by adopting the actual interest rate, from
which gains and losses, when loan and accounts receivable are terminated from recognizing, or are impaired or
amortized, shall be recorded into the profits and losses of the current period. Where part of the held-to-maturity
investment is sold or the re-classified amount thereof is considerably large, so that the remainder of the said
investment is no longer suitable to be classified as a held-to-maturity investment, the Company shall re-classify
the remainder of the said investment as an available-for-sale financial asset, and shall make subsequent
measurement on it according to its fair value on the re-classification day, and no longer re-classify the said
financial asset as held-to-maturity investment in the current fiscal year and the subsequent two complete
accounting years. The gap between the carrying amount of the said remnant part of the investment at the
re-classification day and the fair value shall be computed into the owner‘s equity. And when the said
available-for-sale financial asset is terminated from recognition or transferred out when it is impaired, it shall be
recorded into the profits and losses of the current period.
The financial liabilities initially recognized by the Company shall be measured at their fair values. For the Trading
financial liabilities, the transaction expenses thereof shall be directly recorded into the profits and losses of the
current period; for other categories of financial liabilities, the transaction expenses thereof shall be included into
the initially recognized amount.
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Trading financial liabilities: such financial liabilities held by the Company for the purpose for repurchasing at the
fair value in the near future, and financial liabilities formed a part of combination of financial instruments which
are managed by way of short-term profit making in the near future, and derivative financial liabilities (the
designated derivative instruments which are effective hedging instruments, or derivative instruments to financial
guarantee contracts, and the derivative instruments which are connected with the equity instrument investment for
which there is no quoted price in the active market, whose fair value cannot be reliably measured, and which shall
be settled by delivering the said equity instruments) shall be classified as trading financial liabilities. Subsequent
measurement of transaction financial liabilities shall be measured at fair value, and the profits and losses arising
from the change in the fair value shall be recorded into the profits and losses of the current period.
Other financial liabilities: The Company shall make subsequent measurement on its other financial liabilities on
the basis of the post-amortization costs by adopting the actual interest rate, from which gains and losses, when
other financial liabilities are terminated from recognizing or amortized, shall be recorded into the profits and
losses of the current period.
Determination of the Fair Value of Financial Instruments
—As for the financial instruments for which there is an active market, the quoted prices in the active market shall
be used to determine the fair values thereof. Where there is no active market for a financial instrument, the
Company concerned shall adopt value appraisal techniques to determine its fair value. The value appraisal
techniques mainly include the prices adopted by the parties, who are familiar with the condition, in the latest
market transaction upon their own free will, the current fair value obtained by referring to other financial
instruments of the same essential nature, the cash flow capitalization method and the option pricing model, etc.
(3) Recognition and Accounting Method for Transfer of Financial Assets
Where transfer of financial assets occurs in the Company, if the Company has transferred nearly all of risks and
rewards related to the ownership of the financial asset to the transferee, it shall stop recognizing the financial asset.
If it retained nearly all of the risks and rewards related to the ownership of the financial asset, it shall not stop
recognizing the financial asset. When the Company makes a judgment about whether the transfer of a financial
asset satisfies all the above conditions to stop the recognition, the Company adopts the code of ―Rather substantial
than superficial‖. The Company differentiates the transfer of financial asset into the entire transfer and the partial
transfer of financial assets. If the transfer of an entire financial asset satisfies the conditions for stopping
recognition, the difference between the amounts of the following 2 items shall be recorded in the profits and
losses of the current period: (1)The book value of the transferred financial asset; (2)The sum of consideration
received from the transfer, and the accumulative amount of the changes of the fair value originally recorded in the
owner's equities (in the event that the financial asset involved in the transfer is a financial asset available for sale).
If the transfer of partial financial asset satisfies the conditions to stop the recognition, the entire book value of the
transferred financial asset shall, between the portion whose recognition has been stopped and the portion whose
recognition has not been stopped (under such circumstance, the service asset retained shall be deemed as a portion
of financial asset whose recognition has not been stopped), be apportioned according to their respective relative
fair value, and the difference between the amounts of the following 2 items shall be included into the profits and
losses of the current period : (1) The book value of the portion whose recognition has been stopped; (2) The sum
of consideration of the portion whose recognition has been stopped, and the portion of the accumulative amount of
the changes in the fair value originally recorded in the owner's equities which is corresponding to the portion
whose recognition has been stopped (in the event that the financial asset involved in the transfer is a financial
asset available for sale). If the transfer of a financial asset doesn‘t satisfy the conditions to stop the recognition,
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
the Company shall continue to recognize the financial asset and shall recognize the consideration it receives as a
financial liability.
(4) Recognition Conditions for Termination of Financial Liabilities
When the prevailing obligations of a financial liability are relieved in all or in part may the recognition of the
financial liability be terminated in all or partly. If the Company enters into an agreement with creditor so as to
substitute the existing financial liabilities by way of any new financial liability, and if the contractual stipulations
regarding the new financial liability is substantially different from that regarding the existing financial liability,
the Company shall terminate the recognition of the existing financial liability, and shall at the same time recognize
the new financial liability. Where the Company makes substantial revisions to some or all of the contractual
stipulations of the existing financial liability, it shall terminated the recognition of the existing financial liability or
part of it, and at the same time recognize the financial liability after revising the contractual stipulations as a new
financial liability. Where the recognition of a financial liability is totally or partially terminated, the Company
shall include into the profits and losses of the current period the gap between the carrying amount which has been
terminated from recognition and the considerations it has paid (including the non-cash assets it has transferred out
and the new financial liabilities it has assumed). If the Company buys back part of its financial liabilities, it shall
distribute, on the report day, the carrying amount of the whole financial liabilities in light of the comparatively fair
value of the part that continues to be recognized and the part whose recognition has already been terminated and
carries out distribution of the overall book value of the financial liability. The gap between the carrying amount
which is distributed to the part whose recognition has terminated and the considerations it has paid (including the
non-cash assets it has transferred out and the new financial liabilities it has assumed) shall be recorded into the
profits and losses of the current period.
(5) Recognition of Financial Assets and Financial Liabilities
As for the financial assets and financial liabilities that the Company measured by fair value, they all refer to the
quoted prices in the active market.
(6) Withdrawal of Impairment Provision for Financial Assets (excluding Accounts Receivable)
Except for financial assets measured at fair value and of which the alterations charged to the profits and losses in
the current period, the Company conducts check on book value of financial assets at the Balance Sheet Date. If
there is any objective evidences proving that a specific financial asset is impaired, an impairment provision shall
be made. (1) Impairment provision for available-for-sale financial assets: as at the end of the reporting period, if
there is a relatively large reduce on fair value of available-for-sale financial assets, or it is estimated that the trend
of reduce is temporarily with a comprehensive consideration of various relevant ingredients, the available-for-sale
financial assets is recognized as impaired, the accumulative losses arising from the decrease of the fair value of
the owners‘ equity which was directly included shall be transferred out and recognized as impairment. As for
available-for-sale debt instruments whose impairment-related losses have been recognized, if, within the
accounting period thereafter, the fair value has risen and are objectively related to the subsequent events that occur
after the originally impairment-related losses were recognized impairment-related losses shall be reversed and be
recorded into the profits and losses of the current period. The impairment-related losses incurred to an
available-for-sale equity instrument investment shall not be reversed through profit and losses. (2) As for
impairment provision of hold-to-maturity investment: the measurement of impairment on hold-to-maturity
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investment shall be treated according to measurement of impairment on accounts receivable.
(7) Notes on Basis of Hold-to-Maturity Investment undue that reclassified into Available-for-Sales
Financial Assets
Naught
10. Recognition and Withdrawal Method for Bad-debt Provisions for Accounts Receivable
Accounts receivable of the Company mainly including accounts receivable and other receivables. The Company
conducts a check to the book value of accounts receivable at the Balance Sheet Date, if there is any objective
evidence proving that the accounts receivable is impaired, it shall be recorded into provision for bad debts.
(1) Provisions for Bad-debt Accounts Receivable with a significant single amount
Accounts receivable with a significant single amount refer to
Definition or amount criteria for an account receivable with a the top five accounts receivable with the largest balances or
significant single amount accounts accounting for over 10% of the total balance of
receivables.
Where there is objective evidence proving that the Company
is not able to recover the full amount of an account receivable
according to the original terms in relation to the account, an
independent impairment test is carried out on the account
receivable and the bad-debt provision is made according to
Making individual bad-debt provisions for accounts receivable with
the difference between the present value of the account‘s
a significant single amount
future cash flows and the account‘s carrying amount. If the
independent impairment test shows that the account
receivable has not been impaired, the balance of the account
is put into the corresponding group and the bad-debt
provision is made using the balance percentage method.
(2) Accounts receivable for which bad-debt provisions are made on the group basis
Group name Withdraw method Basis for recognition of group
Accounts receivable arising from other common transactions
Common transaction group Balance percentage method
than internal transactions are classified according to credit risk
features.
Accounts receivable arising from internal transactions within the
Internal transaction group Other methods
scope of the consolidation statements are classified according to
credit risk features.
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In the groups, those adopting aging analysis method to withdraw bad debt provision:
□Applicable √Inapplicable
In the groups, those adopting balance percentage method to withdraw bad debt provision:
□ Applicable √ Inapplicable
Withdrawing proportion of Withdrawing proportion of other
Name of the group
account receivables (%) account receivables (%)
Ordinary business group 6% 6%
In the groups, those adopting other methods to withdraw bad debt provision:
□ Applicable √ Inapplicable
Name of the group Notes
Withdrawing bad debt provision according to the discrepancy between
Internal business group
present value of future cash flow and book value.
(3) Accounts receivable with an insignificant single amount but for which the bad debt provision is made
independently
Reason of individually withdrawing bad debt When there is conclusive evidence proving that obvious difference exists in the
provision: recoverability.
As for other receivables (including notes receivable, prepayments, interest
Method for making bad-debt provisions for receivable, long-term receivables, etc.), bad-debt provisions are made according to
the said accounts receivables: the differences between the present values of their future cash flows and their
carrying amounts.
11. Inventory
(1) Category of Inventory
Category: raw materials, products in processing, materials for consigned processing, finished products,
semi-manufactured semi-finished products, and low-value consumption goods.
(2) Pricing method for distributed inventories
Method: others
Accounting of inventory: raw materials and finished products shall be measured at actual cost, while weighted
average method shall be adopted when receiving or outgoing.
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(3) Recognition basis of net realizable value of inventories and withdrawal method for impairment
provision of inventories
Recognition of provision for falling price of inventory and withdrawal: The Company shall make provision for
falling price of inventory on the basis of each item of inventory at the balance that net realizable value is lower
than carrying cost. For finished goods, merchandise inventories, and available for sale materials which are applied
directly for sales of stock inventory, the amount after deducting the estimated sale expense and relevant taxes
from the estimated sell price of the inventory shall be recognized as the net realizable value. For material
inventories which need to be processed, the amount after deducting the estimated cost of completion, estimated
sale expense and relevant taxes from the estimated sale price of produced finished goods shall be recognized as
the net realizable value.
(4) Inventory system of inventories
Inventory system: perceptual inventory system
(5) Amortization method of low-value consumption goods and packages
Low-value consumption goods
Amortization method: one time method
Packages
Amortization method: one time method
12. Long-term equity investment
(1) Recognition for initial cost
Pricing of long-term equity investment
— Long-term equity investment for the corporate combination
——For the merger of enterprises under the same control, it shall, on the date of merger, regard the share of the
book value of the owner's equity of the merged enterprise as the initial cost of the long-term equity investment,
and the direct relevant expenses occurred for the merger of enterprises shall be included into the profits and losses
of the current period.
——For the merger of enterprises not under the same control, The combination costs shall be the fair values, on
the acquisition date, of the assets paid, the liabilities incurred or assumed and the equity securities issued by the
Company in exchange for the control on the acquiree, and all relevant direct costs incurred to the acquirer for the
business combination. Where any future event that is likely to affect the combination costs is stipulated in the
combination contract or agreement, if it is likely to occur and its effects on the combination costs can be measured
reliably, the Company shall record the said amount into the combination costs.
——The cost of a long-term equity investment obtained by making payment in cash shall be the purchase cost
which is actually paid. The cost consists of the expenses directly relevant to the obtainment of the long-term
equity investment, taxes and other necessary expenses.
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——The cost of a long-term equity investment obtained on the basis of issuing equity securities shall be the fair
value of the equity securities issued.
——The cost of a long-term equity investment of an investor shall be the value stipulated in the investment
contract or agreement except the unfair value stipulated in the contract or agreement.
——The cost of a long-term investment obtained by the exchange of non-monetary assets (having commercial
nature) shall be recognized base on taking the fair value and relevant payable taxes as the cost of the assets
received.
——The cost of a long-term equity investment obtained by recombination of liabilities shall be recognized at the
fair value.
(2) Subsequent measurement and recognition of gains and losses
—The long-term equity investment of the Company that is able to control the invested enterprise and which of the
Company that does not do joint control or does not have significant influences on the invested entity, and has no
offer in the active market and its fair value cannot be reliably measured, it shall be measured by employing the
cost method. Except for the declared but not distributed cash dividends or profits included in the price or
consideration actually paid when an investment is obtained, the dividends or profits declared to distribute by the
invested entity shall be recognized as the current investment income.
(3) Recognition basis of jointly control and significant influence in invested units
—A long-term equity investment of the Company that does joint control or significant influences over the
invested entity shall be measured by employing the equity method. If the cost of a long-term equity investment is
more than the Company‘s attributable share of the fair value of the invested entity's identifiable net assets for the
investment, the cost of the long-term equity investment may not be adjusted. If the cost of a long-term equity
investment is less than the Company‘s attributable share of the fair value of the invested entity‘s identifiable net
assets for the investment, the difference shall be included in the current profits and losses and the cost of the
long-term equity investment shall be adjusted simultaneously. The Company shall recognize the net losses of the
invested enterprise until the book value of the long-term equity investment and other long-term rights and
interests which substantially form the net investment made to the invested entity are reduced to zero, unless the
investing enterprise has the obligation to undertake extra losses. The Company shall, on the ground of the fair
value of all identifiable assets of the invested entity when it obtains the investment, recognize the attributable
share of the net profits and losses of the invested entity after it adjusts the net profits of the invested entity.
(4) Impairment test method and withdrawal method for impairment provision
—The Company shall conduct inspection to long-term investment item by item at the end of reporting period. If
the market price of long-term investment falls into sustained decline or the invested enterprise‘s operation status
grow worse, which will cause that the recoverable amount is lower than carrying value, moreover, such reduced
value will not be restored in predicted future period, then the negative balance between the recoverable amount
and carrying value of long-term investment shall be measured as provision for impairment of long-term
investment. The recoverable amount shall be determined in light of the higher one of the net amount of the fair
value of the long-term equity investment minus the disposal expenses and the current value of the expected future
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cash flow of the long-term equity investment. Once any loss of impairment of the long-term investment is
recognized, it shall not be switched back in the future accounting periods.
13. Investment real estate
The Company doesn‘t have investment real estate.
14. Fixed assets
(1) Recognition of fixed assets
Recognition of fixed assets: Fixed assets of the Company refers to the tangible assets that simultaneously possess
the features as follows: they are held for the sake of producing commodities, rendering labor service, renting or
business management; and their useful life is in excess of one fiscal year and unit price is higher.
Category of fixed assets: housing and building, machinery equipment, transportation vehicle and other.
(2) Recognition basis and pricing method for fixed assets acquired under finance lease
The "finance lease" shall refer to a lease that has transferred in substance all the risks and rewards related to the
ownership of an asset. The Company shall recognizes the lower one of the fair value of the leased asset and the
present value of the minimum lease payments on the lease beginning date as cost of fixed assets of finance lease.
In calculation of the depreciation of a leased fixed asset, the Company adopts a depreciation policy for leased
assets consistent with that for depreciable assets. If it is reasonable to be certain that the Company will obtain the
ownership of the leased asset when the lease term expires, the leased asset shall be fully depreciated over its
useful life. If it is not reasonable to be certain that the Company will obtain the ownership of the leased asset at
the expiry of the lease term, the leased asset shall be fully depreciated over the shorter one of the lease term or its
useful life.
(3) Depreciation method of various fixed assets
Measurement of fixed assets and depreciation method: fixed assets shall be measured at actual cost. Depreciation
rate shall be recognized by employing the straight-line method and in accordance with appraisal economical
useful life and predicated net residuals
The categories Estimated useful life (years) Residual value (%) Annual depreciation rate (%)
Houses and buildings 3—25 5% 31.67%-4.75%
Machineries 2—8 5% 47.50%-11.88%
Electronic equipment 5—10 5% 19%-9.50%
Vehicles 2—8 5% 47.50%-11.88%
(4) Impairment test method and withdrawal method for impairment provision of fixed assets
Provision for impairment of fixed assets: The Company shall carry out inspection to fixed assets item by item
every year. If the recoverable amount is lower than carrying value due to sustained decline of market price of
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fixed assets or technological obsolescence, damage or long-term idle, then the provision for impairment of fixed
assets shall be withdrawn on the basis of the balance hereof. Once any loss of impairment of the fixed assets is
recognized, it shall not be switched back in the future accounting periods. The recoverable amount shall be
determined in light of the higher one of the net amount of the fair value of the fixed assets minus the disposal
expenses and the current value of the expected future cash flow of the fixed assets. The current value of future
cash flow of assets shall be recognized based on the amount after the predicated future cash flow occurred in the
process of continuous services and when the final disposal is discounted by adopting proper discount rate.
(5) Other explanation
Naught
15. Construction in Progress
(1) Categories of construction in process
Categories of construction in process refer to the newly establishment, amendment or expansion of fixed assets
of the Company, or project expenses on unaccomplished project such as technology innovation, equipment
updating and major repair projects, etc.,
(2) Standards and time of transferring construction in process into fixed asset
Construction in progress shall be measured at actual cost. Constructions in progress shall be carried down to fixed
assets by adopting provisional estimate when bringing to the expected conditions for use. After completion and
settlement procedures, the Company shall adjust the carrying value of fixed assets at the actual cost. As for
interests on borrowings incurred to special-borrowing loans or general borrowing for the acquisition and
construction or production of assets eligible for capitalization and the ancillary expense incurred to
special-borrowing loans, those incurred before a qualified asset under acquisition, construction or production is
ready for the intended use or sale shall be capitalized into capitalized cost, while those incurred after a qualified
asset under acquisition and construction or production is ready for the intended use or sale shall be included into
the profits and losses of the current period.
(3) Impairment test method and withdrawal method for impairment provision of construction in process
Provision for impairment of construction in progress: the Company shall carry out overall inspection to the
construction in progress at the end of the reporting period. If the construction in progress has been stopped for a
long time and cannot be continued restarting in the coming three years, and such construction in progress has
already fallen behind, whatever in performance or in technology, resulting in an uncertainty to economic benefit
of the Company, and there is an obvious evidence shows that the construction in progress has been impaired, then
provision for impairment of the construction in progress shall be withdrawn based on the negative balance
between the recoverable amount of single construction in progress and carrying value. Once any loss of
impairment of the construction in progress is recognized, it shall not be switched back in the future accounting
periods.
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16. Borrowing costs
(1) Recognition principles for capitalization of borrowing costs
The borrowing costs shall not be capitalized unless they simultaneously meet the following requirements: (1)
The asset disbursements have already incurred, which shall include the cash, transferred non-cash assets or
interest bearing debts paid for the acquisition and construction or production activities for preparing assets
eligible for capitalization; (2) The borrowing costs has already incurred; and (3) The acquisition and construction
or production activities which are necessary to prepare the asset for its intended use or sale have already started.
(2) Capitalization period of borrowing costs
The borrowing costs shall not be capitalized unless they simultaneously meet the following requirements: (1)
The asset disbursements have already incurred; (2) The borrowing costs have already incurred and (3) The
acquisition and construction or production activities which are necessary to prepare the asset for its intended use
or sale have already started. And then it shall be recorded into assets costs that satisfied conditions of
capitalization. When the qualified asset under acquisition and construction or production is ready for the
intended use or sale, the capitalization of the borrowing costs shall be ceased; borrowing costs incurred thereafter
shall be recognized as expenses at the incurred amount when they are incurred.
(3) Period for suspending capitalization of borrowing costs
Suspension of capitalization: Where the acquisition and construction or production of a qualified asset is
interrupted abnormally and the interruption period lasts for more than 3 months, the capitalization of the
borrowing costs shall be suspended. The borrowing costs incurred during such period shall be recognized as
expenses, and shall be recorded into the profits and losses of the current period, till the acquisition and
construction or production of the asset restarts. If the interruption is a necessary step for making the qualified asset
under acquisition and construction or production ready for the intended use or sale, the capitalization of the
borrowing costs shall continue.
(4) Calculation method of capitalized amount of borrowing costs
To-be-capitalized amount of interests of borrowing: As for interests of borrowing occurred special-borrowing
loans or general borrowing for the acquisition and construction or production of assets eligible for capitalization,
those incurred before a qualified asset under acquisition, construction or production is ready for the intended use
or sale shall be capitalized based on the following methods:
—As for special-borrowing loans for the acquisition and construction or production of assets eligible for
capitalization, the to-be-capitalized amount of interests shall be determined in light of the actual cost incurred of
the specially borrowed loan at the present period minus the income of interests earned on the unused borrowing
loans as a deposit in the bank or as a temporary investment.
—Where a general borrowing is used for the acquisition and construction or production of assets eligible for
capitalization, the Company shall calculate and determine the to-be-capitalized amount of interests on the general
borrowing by multiplying the weighted average asset disbursement of the part of the accumulative asset
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disbursements minus the general borrowing by the capitalization rate of the general borrowing used. The
capitalization rate shall be calculated and determined in light of the weighted average interest rate of the general
borrowing.
17. Biological assets
Naught
18. Oil gas assets
Naught
19. Intangible assets
(1) Pricing method of intangible assets
—The cost of outsourcing intangible assets shall be measured at actual expenditures occurred for reaching the
expected use purpose.
—The research expenditures for its internal research and development projects of the Company shall be recorded
into the profit or loss for the current period. The development expenditures for its internal research and
development projects of the Company may be confirmed as cost of intangible assets when they satisfy
capitalization conditions.
—The cost invested into intangible assets by investors shall be determined according to the conventional value in
the investment contract or agreement, except for those of unfair value in the contract or agreement.
—The intangible assets received by the Company through accepting debtor‘s non-cash assets for compensation
for debts, or by receivables, shall be measured at the fair value of the intangible assets received.
—The cost invested into intangible assets by non-monetary transaction shall be determined according to the fair
value of non-monetary assets and relevant payable taxes.
(2) Estimated useful life of intangible assets with limited useful life
For intangible assets of limited useful life, the Company adopts straight-line method for amortization in useful life
term. The Company shall, at the end of each year, recheck the estimated useful life and amortization method and
makes suitable adjustment.
Item Estimated useful life Basis
Land use right 50 years Statutory use right
Patent 10 years Estimated term of making profit
(3) Judgment basis of intangible assets with uncertain useful life
The Company doesn‘t have intangible assts with uncertain useful life.
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(4) Withdrawal of impairment provision of intangible assets
Provision for impairment of intangible assets: the Company shall made overall inspection to the intangible asset
at the end of reporting period. If the intangible assets have already been replaced by other new technologies,
resulting in the Company‘s ability to create economic benefits suffering materials adverse influence, or a
sustained decline of market price of intangible assets and impossible to be recover within the residual
amortization years, or certain intangible asset has exceeded the term protected by law but still part of useful
value is remained, or there is an obvious evidence shows that the intangible assets has been impaired, then
provision for impairment of the intangible assets shall be withdrawn based on the balance between the
recoverable amount of single intangible assets and carrying value. Once any loss of impairment of the intangible
assets is recognized, it shall not be switched back in the future accounting periods.
(5) Criteria of dividing the research phase and development phase of internal R&D project
The expenditures for its internal research phase and development phase of the Company discriminate into research
expenditures and development expenditures. The term ―research‖ refers to the creative and planned investigation
to acquire and understand new scientific or technological knowledge; the term ―development‖ refers to the
application of research achievements and other knowledge to a certain plan or design, prior to the commercial
production or use, so as to produce any new material, device or product, or substantially improved material,
device and product.
(6) Calculation of the expenditures of internal R&D project
The expenditures for its internal research phase and development phase of the Company discriminate into research
expenditures and development expenditures:
1) The research expenditures for its internal research and development phases of the Company shall be recorded
into the profit or loss for the current period.
2) The research expenditures for its internal research and development phases of the Company may be confirmed
as intangible assets when they satisfy the following conditions simultaneously:
① It is feasible technically to finish intangible assets for use or sale;
② It is intended to finish and use or sell the intangible assets;
③ The usefulness of methods for intangible assets to generate economic benefits shall be proved, including being
able to prove that there is a potential market for the products manufactured by applying the intangible assets or
there is a potential market for the intangible assets itself or the intangible assets will be used internally;
④ It is able to finish the development of the intangible assets, and able to use or sell the intangible assets, with the
support of sufficient technologies, financial resources and other resources; and
⑤ The expenditures on development phase of the intangible assets can be reliably measured.
20. Amortization method of long-term deferred expenses
Long-term deferred expenses refer to general expenses with the apportioned period over one year (one year
excluded) that have occurred but attributable to the current and future periods. Long-term deferred expense shall
be recoded into book in the light of the actual expenditure, and amortized averagely within benefit period. In
case of no benefit in the future accounting period, the amortized value of such project that fails to be amortized
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shall be transferred into the profits and losses of the current period.
21. Assets transfer with repurchasing conditions
Naught
22. Estimated liabilities
(1) Criteria of estimated liabilities
Recognition of estimated debts: The obligation such as external guaranty, pending litigation or arbitration, product
quality assurance, layoff plan, loss contract, restructuring and disposal of fixed assets, pertinent to a contingencies
shall be recognized as an estimated debts when the following conditions are satisfied simultaneously: ① That
obligation is a current obligation of the enterprise; ② It is likely to cause any economic benefit to flow out of the
enterprise as a result of performance of the obligation; and ③ The amount of the obligation can be measured in a
reliable way.
(2) Measurement of estimated liabilities
Measurement of estimated debts: The estimated debts shall be initially measured in accordance with the best
estimate of the necessary expenses for the performance of the current obligation. To determine the best estimate,
the Company shall take into full consideration of the risks, uncertainty, time value of money, and other factors
pertinent to the Contingencies. If the time value of money is of great significance, the best estimate shall be
determined after discounting the relevant future outflow of cash. If there is a sequent range for the necessary
expenses and if all the outcomes within this range are equally likely to occur, the best estimate shall be
determined in accordance with the middle estimate within the range. In other cases, the best estimate shall be
conducted in accordance with the following situations, respectively: ① If the Contingencies concern a single
item, it shall be determined in the light of the most likely outcome. ② If the Contingencies concern two or more
items, the best estimate should be calculated and determined in accordance with all possible outcomes and the
relevant probabilities. ③ When all or some of the expenses necessary for the liquidation of an estimated debts of
an enterprise is expected to be compensated by a third party, the compensation should be separately recognized
as an asset only when it is virtually certain that the reimbursement will be obtained. The Company shall check
the book value of the estimated debts on the balance sheet date. The Company shall, subject to change, make
adjustment to carrying value to reflect the current best estimate.
23. Share-based payment and equity instruments
(1) Categories of share-based payment
The Company doesn‘t have share-base payment and equity instruments.
(2) Recognition method of fair value of equity instruments
Naught
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(3) Recognition basis of the best estimate of the vested equity instruments
Naught
(4) Accounting treatment relevant to implement, revise and terminate share-based payment plan
Naught
24. Repurchase of shares of the Company
Naught
25. Revenue
(1) Criteria for recognition time of revenue from sale of goods
No revenue shall be realized unless the following conditions are met simultaneously: a. The significant risks and
rewards of ownership of the goods or products have been transferred to the buyer by the enterprise; b. The
Company retains neither management right nor effective control over the sold goods or products; c. The relevant
revenue has been received or valid evidence has been obtained, d. relevant cost related to sales of goods and
products can be measured in a reliable way. The principle of affirmation of revenue from ―domestic sales and
export sales‖: (a) Affirmation method of domestic sales: qualified products would be delivered to buyers in line
with the requirements of the buyers; invoice for sales shall be opened when the receivable accounts are
determined, receive payment or estimate payment receivable. (b) Affirmation method of export sales: products
would be produced according to the requirements of the buyers stipulated in contracts. After examination,
customers clearing procedure for export would be arranged. Transport companies would ship the products.
Invoice for sales shall be opened when the receivable accounts are determined; receive payment or estimate
payment receivable.
(2) Recognition basis of revenue from transferring use rights of assets
Revenues from providing others to use company assets shall be affirmed when meeting the following conditions:
the relevant economic benefits are likely to flow into the Company; the amount of revenues can be measured in a
reliable way. Royalty revenues from providing others to use company assets can be calculated and affirmed in
line with chargeable time and methods stipulated in relevant contracts, treaties.
（3）Recognition basis of revenue from providing services
Revenue from providing services shall be recognized by adopting the percentage-of-completion method when
following conditions shall be met simultaneously: The amount of revenue can be measured in a reliable way; The
relevant economic benefits are likely to flow into the enterprise; The schedule of completion under the transaction
can be confirmed in a reliable way; and the costs incurred or to be incurred in the transaction can be measured in a
reliable way. If the Company can not measure the result of a transaction concerning the providing of labor
services in a reliable way, and the cost of labor services incurred is expected to be compensated, the revenue from
the providing of labor services shall be recognized in accordance with the amount of the cost of labor services
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incurred. If the cost of labor services incurred is not expected to compensate in full, the revenue shall be
recognized in accordance with the amount of the cost of labor service can be compensated; if all cost of labor
services incurred is not expected to compensate and no revenue from the providing of labor services may be
recognized.
(4) Recognition basis and method for the schedule of contracted project when recognizing the revenue from
providing labour services and construction contract by percentage-of-completion method
The Company doesn‘t have revenue from providing labour services and contraction contracted by
percentage-of-completion method.
26. Government grants
(1) Types
No government subsidy may be recognized unless the following conditions are met simultaneously: (1) The
Company can meet the conditions for the government subsidies; and (2) The Company can obtain the government
subsidies.
(2) Accounting treatment method
Government subsidy shall be confirmed when meeting the following standards: meeting the sub conditions of
government subsidy; enabling to receive government subsidy.
If a government subsidy is a monetary asset, it shall be measured in the light of the received or receivable
amount. If a government subsidy is a non-monetary asset, it shall be measured at its fair value. If its fair value
cannot be obtained in a reliable way, it shall be measured at its nominal amount.
The government subsidies pertinent to assets shall be recognized as deferred income, equally distributed within
the useful lives of the relevant assets, and included in the current profits and losses. But the government
subsidies measured at their nominal amounts shall be directly included in the current profits and losses. The
government subsidies pertinent to incomes shall be treated respectively in accordance with the circumstances as
follows: (1) Those subsidies used for compensating the related future expenses or losses of the enterprise shall be
recognized as deferred income and shall included in the current profits and losses during the period when the
relevant expenses are recognized; or (2) Those subsidies used for compensating the related expenses or losses
incurred to the enterprise shall be directly included in the current profits and losses.
27. Deferred income tax assets and liabilities
(1) Recognition basis of deferred income tax assets
The Company shall record a temporary difference into deferred income tax to the extent of the amount of the
taxable income which it is most likely to obtain in future period and which can be deducted from the deductible
temporary difference.
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(2) Recognition basis of deferred income tax liabilities
As for taxable temporary differences, the Company shall record into deferred income liabilities except for special
conditions.
28. Operating lease and finance lease
(1) Accounting treatments of operating lease
The rents from operating leases shall be recorded by the Company in the relevant asset costs or the profits and
losses of the current period by using the straight-line method over each period of the lease term.
(2) Accounting treatments of finance lease (3) Accounting treatments of leaseback
On the lease beginning date, the Company shall record the lower one of the fair value of the leased asset and the
present value of the minimum lease payments on the lease beginning date as the entering value in an account,
recognize the amount of the minimum lease payments as the entering value in an account of long-term account
payable, and treat the balance between the recorded amount of the leased asset and the long-term account payable
as unrecognized financing charges.
(3) Accounting treatments of leaseback
Naught
29. Assets held for sale
(1) Recognition criteria of available-for-sale assets
The Company doesn‘t have any available-for-sale assets.
(2) Accounting treatments of the assets held for sale
The Company doesn‘t have any available-for-sale assets.
30. Capitalization of assets business
The Company doesn‘t have any capitalization of assets business.
31. Hedging accounting
The Company doesn‘t have any hedging business.
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32. Changes in main accounting policies and estimates
Were the main accounting policies or estimates changed during the reporting period?
□Yes √ No
(1) Change of accounting policies
Were the main accounting policies changed during the reporting period?
□Yes √ No
(2) Change of accounting estimates
Were the main accounting estimates changed during the reporting period?
□Yes √ No
33. Correction of previous accounting errors
Was any accounting error made in previous periods discovered in the reporting period?
□Yes √ No
(1) Retrospective restatement method
Was any previous accounting errors adopting retrospective restatement method discovered in the reporting period?
□Yes √ No
(2) Prospective application method
Was any previous accounting errors adopting prospective application method discovered in the reporting period?
□Yes √ No
34. Other main accounting policies, accounting estimates as well as compilation method of financial
statements
Naught
(Ⅴ) Taxation
1. Main taxes and tax rate
Category of taxes Tax basis Tax rate
VAT on sales is calculated based on 17%
of sales revenue. VAT is calculated and
VAT 17%
paid based on the difference of VAT on
sales deducting deductible input VAT.
83
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Tax on exports managed by the
Company, as approved by the taxation
departments, is paid by adopting the
policy of ―tax exemption, tax deduction
and tax rebate‖ since 1 Jan. 2002
Consumption tax 5%
Business tax Taxable service income 5%、7%
Urban maintenance and construction tax Taxable VAT and business tax 15%
The Company was identified as a
high-tech enterprise in Dec. 2008, and
passed the re-examination for the First
Batch High-tech Enterprise in 2011 on
23 Aug. 2011, as well as won the
―Certificate of High-tech Enterprise‖
with serial number GR201144000059
after approval by Department of Science
and Technology of Guangdong Province,
Department of Finance of Guangdong
Province, Guangdong Provincial Bureau
Enterprise income tax 3%
of State Taxation and Guangdong
Provincial Bureau of Local Taxation. In
accordance with relevant provisions in
Corporate Income Tax Law of the
People's Republic of China and the
Administration Measures for
Identification of High-tech Enterprises
promulgated in 2007, the Company paid
the corporate income tax based on a tax
rate of 15% within three years since 1
Jan. 2011.
Education expenses surcharge Current turnover tax in current 2%
The income tax rates adopted by each subsidiary and branch factory
The subsidiaries of the Company, including Foshan Taimei Times Lamps and Lanterns Co., Ltd., and Foshan
Chanchang Electric Appliance (Gaoming) Co., Ltd., Foshan Chansheng Electronic Ballast Co., Ltd., Nanjing
Fozhao Lighting Components Manufacturing Co., Ltd., Foshan Electrical & Lighting (Xinxiang) Co., Ltd.,
Foshan Lighting Lamps and Lanterns Co., Ltd., Qinghai Fozhao Lithium Ion Battery Cathode Materials Co., Ltd.,
Guangdong Fozhao Leasing Co., Ltd. and Guangdong Fozhao New Light Sources Technology Co., Ltd., whose
enterprise income tax rate is 25%.
2. Tax preference and official documents
The Company has been certified as a high-tech enterprise in December 2008, and passed the re-examination for
84
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
the First Batch High-tech Enterprise in 2011 on 16 January 2011, as well as won the ―Certificate of High-tech
Enterprise‖ with serial number GR201144000059 after approval by Department of Science and Technology of
Guangdong Province, Department of Finance of Guangdong Province, Guangdong Provincial Bureau of State
Taxation and Guangdong Provincial Bureau of Local Taxation. In accordance with relevant provisions in
Corporate Income Tax Law of the People's Republic of China and the Administration Measures for Identification
of High-tech Enterprises promulgated in 2007, the Company paid the corporate income tax based on a tax rate of
15% within three years since 1 Jan. 2011.
3. Other explanation
Naught
(Ⅵ) Business combination and consolidated financial statements
1. Subsidiaries
(1) Subsidiaries obtained by establishment and investment
Unit: RMB Yuan
Balance
of
parent
compan
y‘s
equity
after
Actual
deductin
amount The The Include
g the
of Other proporti proporti d in Deducti
Register Minorit differen
Subsidia Register Busines Busines investm essential on of on of consolid ble
Type ed y ce that
ries ed place s nature s scope ents at investm holding voting ated minority
capital interest loss of
the ent shares rights stateme interests
minority
period-e （%） （%） nt
interests
nd
exceed
equity
obtained
by
minority
sharehol
ders
Foshan Producti
Limited
Chanshe Manufa 1,000,0 on of 750,000 1,832,5
compan Foshan 75% 75% Yes
ng cture 00 ballast, .00 41.86
y
Electron electron
85
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
ic ic
Ballast transfor
Co., mers
Ltd. and
electron
ic
igniters
Producti
on and
operatio
n of
lamps,
electric
Foshan
light
Chanch
source
ang
products
Electric Limited
Manufa 72,780, and 50,940, 28,646,
Applian compan Foshan 70% 70% Yes
cture 000.00 accessor 000.00 318.27
ce y
ies,
(Gaomi
installati
ng) Co.,
on of
Ltd.
related
engineer
ing and
consulti
ng
business
Researc
h,
develop
ment,
Foshan producti
Taimei on and
Times Limited sales of
Lamps liability Manufa 500,000 lighting, 350,000 9,972,9
Foshan 70% 70% Yes
and compan cture .00 househo .00 06.90
Lantern y ld
s Co., applianc
Ltd. es and
accessor
ies and
other
lighting
86
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
products
R&D
and
producti
on of
electric
light
source
Foshan lamp
Lighting products
Limited
Lamps and
liability Manufa 5,000,0 5,070,0
and Foshan relevant 100% 100% Yes
compan cture 00.00 00.00
Lantern electric
y
s Co., engineer
Ltd. ing
material
s, metal
material
and
non-met
al
material
Producti
on and
sales of
electric
light
source
equipme
nt and
Foshan
electric
Electric
Limited light
al &
liability Xinxian Manufa 10,000, source 10,000,
Lighting 100% 100% Yes
compan g cture 000 products 000.00
(Xinxia
y , sales
ng) Co.,
of
Ltd.
accessor
ies of
electric
light
source,
electric
light
source
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
material
s,
electric
engineer
ing
material
s,
accessor
ies for
motor
vehicles
, lamps
and
compon
ents
Manufa
Qinghai
cturing
Fozhao
and
Lithium
Limited selling
Ion 6,581,6
liability Manufa 50,000, lithium 25,500,
Battery Qinghai 51% 51% Yes 61.92
compan cture 000.00 ion 000.00
Cathode
y battery
Material
cathode
s Co.,
material
Ltd.
s
Financi
ng lease
of
new-ene
Guangd
rgy
ong
mobile
Fozhao Limited
and
Financia liability 200,000 200,000
Foshan Lease main 100% 100% Yes
l compan ,000 ,000.00
compon
Leasing y
ents,
Co.,
lighting
Ltd.
and
energy-s
aving
products
Foshan Limited Researc
Manufa 15,000, 15,000,
lighting liability Foshan h, 100% 100% Yes
cture 000.00 000.00
applianc compan develop
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
e Co., y ment,
Ltd. manufac
turing
lighting
products
,
devices,
applianc
es,
electric
material
s,
vehicle
accessor
ies,
househo
ld
applianc
es,
socket
outlets,
fire-figh
ting
products
,
ventilati
on
facilities
, LED
products
, etc.
domesti
c trade,
export
and
import
of goods
and
technolo
gy.
Particulars about subsidiaries obtained by establishment and investment
Foshan Chanchang Electric Appliance (Gaoming) Co., Ltd., who is the Sino-foreign joint venture invested and
established by the Company and Prosperity Lamps and Components Ltd, had obtained license for business
89
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
corporation on 23 Aug. 2005 through approval by Foreign Trade and Economic Cooperation Bureau of Gaoming
District, Foshan with document ―MWJMY Zi [2005] No. 79‖. The Company holds 70% equities of the said
company, therefore the said subsidiary was included into the scope of the consolidated financial statements since
date of the foundation.
Foshan Taimei Times Lamps and Lanterns Co., Ltd., who is the Sino-foreign joint ventures invested and
established by the Company and Reback North America Investment Limited, had obtained license for Business
Corporation on 5 Dec. 2005 through approval by Foreign Trade and Economic Cooperation Bureau of Gaoming
District, Foshan with document ―MWJMY Zi [2005] No. 97‖. The Company holds 70% equities of the said
company, therefore the said subsidiary was included into the scope of the consolidated financial statements since
date of foundation.
Foshan Lighting Lamps and Lanterns Co., Ltd. is limited liability company, which is invested and established by
the Company together with Foshan Haozhiyuan Trading Co., Ltd., Shanghai Liangqi Electric Co., Ltd,
Changzhou Sanfeng Electrical & Lighting Co., Ltd., Henan Xingchen Electrical & Lighting Co., Ltd., Foshan
Hongbao Electrical & Lighting Co., Ltd., Hebei Jinfen Trading Co., Ltd., obtaining its license for Business
Corporation on 27 Mar. 2009. The Company holds 60% equities of this company. Therefore the said subsidiary
was included into the scope of the consolidated financial statements since date of the foundation. The said
company had put into production in May 2009.
On 25 Sep. 2009, the equity transfer agreement was signed between the Company and Foshan Haozhiyuan
Trading Co., Ltd., in which Foshan Haozhiyuan Trading Co., Ltd. transferred 10% equities of Foshan Lighting
Lamps and Lanterns Co., Ltd. to the Company. After transfer, the Company holds 70% equities of Foshan
Lighting Lamps and Lanterns Co., Ltd.. On 19 Dec. 2010, the Company signed Equity Transfer Contract with
Shanghai Liangqi Electric Co., Ltd, Changzhou Sanfeng Electrical & Lighting Co., Ltd., Henan Xingchen
Electrical & Lighting Co., Ltd., Foshan Hongbao Electrical & Lighting Co., Ltd., and Taizhou Luqiao Hengyu
Lighting Equipment Trading Company. Since then, the above said minority shareholder respectively transferred
6% of their holding equities of Foshan Lighting Lamps and Lanterns Co., Ltd. to the Company, the Company held
100% equities of Foshan Lighting Lamps and Lanterns Co., Ltd. after the transfer.
Foshan Electrical & Lighting (Xinxiang) Co., Ltd. is a limited liability company with the registered capital of
RMB 10 million, which is invested and established by the Company, obtaining its license for Business
Corporation on 17 Apr. 2009. The holds 100% equities of the said company, therefore the said subsidiary was
included into the scope of the consolidated financial statements since date of foundation.
Qinghai Fozhao Lithium Ion Battery Cathode Materials Co., Ltd. is limited liability company, which is invested
and established by the Company together with Hefei Lixin Energy Material Co., Ltd., Qinghai Power New Energy
Material Co., Ltd., Lithium Energy Holdings, Ltd. and Jianagsu Guogang Communication Engineering Co., Ltd.
On 25 Oct. 2010, Qinghai Fozhao Lithium Energy Exploitation Co., Ltd. received Business License for Enterprise
as a Legal Person, of which the Company holds 51% equities of the Company, and it was included into the scope
of the consolidated financial statements since date of foundation.
Guangdong Fozhao Leasing Co., Ltd. is a limited liability company, which is invested and established by the
Company, obtaining its license for Business Corporation on 31 May 2011. And the Company holds 100% equities
of this company. Therefore the said subsidiary was included into the scope of the consolidated financial statements
since date of foundation.
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Foshan Lighting Appliance Co., Ltd. is the limited liability company invested by the Company, getting its
business licenses on 8 May 2013 with 100% of stock rights and being included into the scope of consolidated
statements from the day it setting up.
(2) Subsidiaries obtained by business combination under same control
Inapplicable
(3) Subsidiaries obtained by business combination not under same control
Unit: RMB Yuan
Balance
of
parent
compan
y‘s
equity
after
Actual
deductin
amount The The Include
g the
of Other proporti proporti d in Deducti
Register Minorit differen
Subsidia Register Busines Busines investm essential on of on of consolid ble
Type ed y ce that
ries ed place s nature s scope ents at investm holding voting ated minority
capital interest loss of
the ent shares rights stateme interests
minority
period-e （%） （%） nt
interests
nd
exceed
equity
obtained
by
minority
sharehol
ders
Producti
Nanjing
on of
Fozhao
energy-s
Lighting
aving
Compon Limited
Manufa 41,683, photoele 72,000,
ents Compan Nanjing 100% 100% Yes
cture 200.00 ctric 000.00
Manufa y
source
cturing
products
Co.,
, lamps
Ltd.
and
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
lanterns,
light
source
equipme
nts,
illumina
tion
engineer
ing;
technolo
gical
develop
ment of
energy-s
aving
and
producti
on of
relevant
compon
ents;
sales of
self-pro
duction
products
Other notes to subsidiaries obtained by business combination not under same control:
In accordance with the equity transfer agreement signed between the Company and Prosperity Lamps and
Components Ltd on 27 Aug. 2008, Prosperity Lamps and Components Ltd. transferred 100% equities of Nanjing
Fozhao Lighting Components Manufacturing Co., Ltd.(used to known as ―Prosperity (Nanjing) Lighting
Components Co., Ltd.‖, and changed name to ―Nanjing Fozhao Lighting Components Manufacturing Co., Ltd.‖
on 15 Nov. 2010.) to the Company. Therefore, Prosperity (Nanjing) Lighting Components Co., Ltd. became the
wholly-owned subsidiary of the Company. The said subsidiary was included into the scope of the consolidated
financial statements since merger date.
2. Special purpose entities or operating entities with control right formed by entrusted operation or lease
Inapplicable
3. Explanation on changes in consolidated scope
Explanation on changes in consolidated scope:
√ Applicable □Inapplicable
Comparing to last year, this year increased one consolidation unit, because
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Foshan Lighting Appliance Co., Ltd. is the limited liability company invested by the Company, getting its
business licenses on 8 May 2013 with 100% of stock rights and being included into the scope of consolidated
statements from the day it setting up.
Comparing to last year, this year decreased one consolidation unit, because
On June 2012, the Company reached an agreement on dismissing Guangding Fozhao New Light Source
Technology Co., Ltd. by the contract ―Termination of Cooperation Agreement‖ with Hong Kong Lijiakechuang
Co., Ltd. The cancellation procedure was completed on March 2013. So this company was excluded the scope of
consolidated statement.
4. Subsidiaries that newly combined into consolidation scope in the reporting period
The subsidiaries, special purpose entities and operating entities with control right formed by entrusted operation or
lease that newly included in the consolidated scope
Unit: RMB Yuan
Name Closing net assets Net profit in current period
Foshan Lighting Appliance Co., Ltd. 15,001,257.66 1,257.66
The subsidiaries, special purpose entities and operating entities with control right formed by entrusted operation or
lease that not longer included in the consolidated scope
Unit: RMB Yuan
Net profit from year-begin to
Name Net asset at the disposal date
disposal date
Guangding Fozhao New Light Source Technology Co.,
8,605,375.65 5,617.32
Ltd.
5. Business combination under same control during the reporting period
Inapplicable
6. Business combination not under same control during the reporting period
Inapplicable
7. Subsidiaries reduced by selling equities without control right during the reporting period
Inapplicable
8. The counter purchases in the reporting period
Inapplicable
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
9. Mergers in the reporting period
Inapplicable
10. Exchange rates of major items in financial statements for foreign entities
Inapplicable
(Ⅶ) Notes on major items in consolidated financial statements of the Company
1. Monetary funds
Unit: RMB Yuan
Closing balance Opening balance
Item Amount in Exchange Amount in Exchange
Amount in RMB Amount in RMB
foreign currency rate foreign currency rate
Cash: -- -- 11,528.77 -- -- 4,646.82
RMB -- -- 11,528.77 -- -- 4,646.82
Bank deposit: -- -- 720,577,207.59 -- -- 980,371,648.14
RMB -- -- 699,285,964.35 -- -- 972,782,849.67
HKD 0.00 0.7966 0.00 93.15 0.8109 75.53
USD 3,409,454.71 6.1787 21,065,997.82 1,152,484.15 6.2855 7,243,939.12
EUR 27,968.29 8.0536 225,245.42 41,452.32 8.3176 344,783.82
Other monetary funds: -- -- 15,815,330.30 -- -- 5,074,595.78
RMB -- -- 15,815,330.30 -- -- 5,074,595.78
Total -- -- 736,404,066.66 -- -- 985,450,890.74
Special explanation shall be made for the accounts limited by being mortgaged, pledged or frozen, deposited
overseas or with potential collecting risks:
Monetary capitals decreased RMB 249,046,824.08 in the period-end compared to year-begin, accounting to a
decrease of 25.27%. it is mainly because the Company distributed cash bonus of the year 2012 in this period.
Bank deposits in the name of the Company and subsidiaries in the consolidated statement are kept in bank or other
relevant financial organizations.
Other monetary funds in the name of the Company are deposited in refundable deposit and long-term cash deposit
with settlement of exchange cash deposit of the security company.
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
2. Trading financial assets
(1) Trading financial assets
Unit: RMB Yuan
Item Closing fair value Opening fair value
The financial assets which are measured at their fair
values and the variation of which is recorded into the 3,943,027.30 4,012,728.75
profits and losses of the current period
Total 3,943,027.30 4,012,728.75
（(2) Trading financial assets with realizable limit
Inapplicable
(3) Hedging instruments and notes to relevant hedging transaction
Inapplicable
3. Notes receivable
(1) Category of notes receivable
Unit: RMB Yuan
Category Closing balance Opening balance
Bank acceptance bill 150,179,224.30 175,907,019.08
Total 150,179,224.30 175,907,019.08
(2) Notes receivable pledged at period-end
Inapplicable
(3) Notes transferred to accounts receivable because drawer of the notes fails to execute the contract or
agreement, and undue notes endorsed to other parties at the end of the period
Inapplicable
4. Dividends receivable
Inapplicable
95
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
5. Interest receivable
(1) Interest receivable
Unit: RMB Yuan
Increase in current Decrease in current
Item Opening balance Closing balance
period period
Interests of fixed time
530,542.81 1,530,877.28 1,280,498.36 780,921.73
deposit
Total 530,542.81 1,530,877.28 1,280,498.36 780,921.73
(2) Overdue interest
Inapplicable
6. Accounts receivable
(1) Accounts receivable listed by categories
Unit: RMB Yuan
Closing balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category
Proportion Proportion Proportion Proportion
Amount Amount Amount Amount
(%) (%) (%) (%)
Accounts receivable with
significant single amount
and individually 0.00 0% 0.00 0% 0.00 0% 0.00 0%
withdrawn bad debt
provision
Accounts receivable for which bad debt provisions are made on the group basis
585,770,70 35,146,242. 355,326,4 21,319,588.8
Common business group 100% 6% 100% 6%
4.48 27 81.06 7
585,770,70 35,146,242. 355,326,4 21,319,588.8
Subtotal of the groups 100% 6% 100% 6%
4.48 27 81.06 7
Accounts receivable with
insignificant single
amount and individually 0.00 0% 0.00 0% 0.00 0% 0.00 0%
withdrawn bad debt
provision
585,770,70 35,146,242. 355,326,4 21,319,588.8
Total -- -- -- --
4.48 27 81.06 7
96
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
In the groups, accounts receivable adopting balance percentage method to withdraw bad debt provision
√ Applicable□ Inapplicable
Unit: RMB Yuan
Closing balance Opening balance
Book balance Book balance
Aging Provision for bad Provision for bad
Proportion Proportion
Amount debts Amount debts
(%) (%)
Including: -- -- -- -- -- --
Subtotal of within
507,029,056.45 86.55% 30,421,743.39 347,188,347.90 97.71% 20,831,300.88
1 year
1-2 years 75,089,755.39 12.82% 4,505,385.32 6,915,023.55 1.95% 414,901.41
2-3 years 3,428,388.03 0.59% 205,703.28 1,150,735.43 0.32% 69,044.13
Over 3 years 223,504.61 0.04% 13,410.28 72,374.18 0.02% 4,342.45
Total 585,770,704.48 -- 35,146,242.27 355,326,481.06 -- 21,319,588.87
(2) Accounts receivable reversed or collected in the reporting period
Inapplicable
(3) The write-off accounts receivable
Unit: RMB Yuan
Whether arising
Nature of accounts
Name of entity Write-off time Write-off amount Write-off reason from related party
receivable
transaction or not?
Write-off of small Expected
Payment for goods 10 June 2013 39.82 No
amount non-receivable
Total -- -- 39.82 -- --
Notes to write off of accounts receivable:
Write-off of small amount expected non-receivable.
4) Particulars about accounts receivable due to shareholders holding 5% (including 5%) voting rights of
the Company
Unit: RMB Yuan
Closing balance Opening balance
Name of entity
Book balance Withdrawal amount Book balance Withdrawal amount
Prosperity Lamps & Components
7,885,885.66 473,153.14 9,094,765.88 545,685.95
Limited
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Total 7,885,885.66 473,153.14 9,094,765.88 545,685.95
(5) Information of top 5 accounts receivable:
Unit: RMB Yuan
The relationship with the
Name of entity Amount Aging Proportion
Company
Unit 1 Non-related relationship 73,556,455.20 Within 1 year 12.56%
Unit 2 Non-related relationship 26,354,116.07 1-2 years 4.5%
Unit 3 Non-related relationship 16,120,137.94 1-2 years 2.75%
Unit 4 Non-related relationship 15,521,693.50 1-2 years 2.65%
Unit 5 Non-related relationship 11,573,235.00 Within 1 year 1.98%
Total -- 143,125,637.71 -- 24.44%
(6) The amounts due from related parties
Unit: RMB Yuan
The relationship with the
Name of entity Amount Proportion
Company
Hangzhou Youchang Lighting Corporate acting in concert and
2,478,190.94 0.42%
Appliance Co., Ltd. holding 5 % of shares
China Youchang Lighting Corporate acting in concert and
501,380.72 0.09%
Appliance Co., Ltd. holding 5 % of shares
China OSRAM Lighting Corporate acting in concert and
4,313,398.37 0.74%
Appliance Co., Ltd. holding 5 % of shares
Prosperity Lamps &
Corporate holding 5 % of shares 7,885,885.66 1.35%
Components Limited
OSRAM Lighting Appliance Corporate acting in concert and
6,613.24 0.00%
Co., Ltd. holding 5 % of shares
Total -- 15,185,468.93 2.6%
(7) Information of accounts receivable that terminated recognition
Inapplicable
(8) If securitization is carried out on accounts receivable as the underlying assets, please list amount of
assets and liabilities arising from further involvement
Inapplicable
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
7. Other accounts receivable
(1) Other accounts receivable disclosed by type:
Unit: RMB Yuan
Closing balance Opening balance
Provision for doubtful Provision for doubtful
Balance Balance
Category debts debts
Proportio
Proportio Proportio Proportion
Amount Amount Amount Amount n (%)
n (%) n (%) (%)
Other accounts
receivable that is
individually
17,190,000.00 23.31% 41,710,000.00 72.88%
significant and
provisions for bad
debts individually
Other accounts receivable that provisions for bad debts by group
Common business
56,439,598.32 76.54% 3,386,375.90 6% 15,411,053.78 26.93% 924,663.24 6%
group
Subtotal of group 56,439,598.32 76.54% 3,386,375.90 6% 15,411,053.78 26.93% 924,663.24 6%
Other accounts
receivable that is
individually
106,552.50 0.15% 106,552.50 100% 106,552.50 0.19% 106,552.50 100%
insignificant but
provisions for bad
debts individually
1,031,215.7
Total 73,736,150.82 -- 3,492,928.40 -- 57,227,606.28 -- --
4
Other closing accounts receivable that is individually significant and provisions for bad debts individually.
√Applicable □Inapplicable
Unit: RMB Yuan
Other accounts Withdrawing proportion
Book balance Bad-debt amount Reason
receivable （%）
Foshang Gaoming
Cash deposit of bidding
District Tendering and 17,190,000.00 0.00 0%
for land
Bidding Trading Center
Total 17,190,000.00 0.00 -- --
In the group, other account receivable adopting balance percentage to withdraw bad-debt provision
√Applicable □Inapplicable
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Unit: RMB Yuan
Period-end Period-begin
Book balance Provision for bad Book balance Provision for bad
Aging
Proporti debts Proporti debts
Amount Amount
on on
Including:
Subtotal of within 1 year 51,275,676.67 90.85% 3,076,540.60 9,546,737.79 61.95% 572,804.27
1-2 years 4,697,868.16 8.32% 281,872.09 5,133,212.60 33.31% 307,992.76
2-3 years 29,660.02 0.05% 1,779.60 373,909.63 2.43% 22,434.58
Over 3 years 436,393.47 0.78% 26,183.61 357,193.76 2.32% 21,431.63
Total 56,439,598.32 -- 3,386,375.90 15,411,053.78 -- 924,663.24
Other closing individually insignificant but provisions for bad debts individually accounts receivable:
√ Applicable □ Inapplicable
Unit: RMB Yuan
Content Book balance Provision for bad debts Withdrawal proportion Reason
Fangcheng County Yuli Estimated to be
106,552.50 106,552.50 100%
Glass Tube Co., Ltd. unrecoverable
Total 106,552.50 106,552.50 -- --
(2) Information of other accounts receivable reversed or recovered in the reporting period
Inapplicable
(3) Information of other accounts receivable written off in the reporting period
Inapplicable
(4) Other accounts receivable is due from shareholders with more than 5% (including 5%) of the voting
shares of the Company
Inapplicable
(5) Nature or details of other significant accounts receivable
Inapplicable
(6) Information of top five other accounts receivable
Unit: RMB Yuan
Name of entity Relationship with the Amount Aging Proportion of the total
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Company (%)
Unit 1 Related relationship 43,320,000.00 Within one year 58.75%
Unit 2 Non-related 17,190,000.00 Within one year 23.31%
Unit 3 Non-related 5,301,751.19 Within one year 7.19%
Unit 4 Non-related 1,810,595.17 1-2 years 2.46%
Unit 5 Non-related 1,568,550.00 1-2 years 2.13%
Total -- 69,190,896.36 -- 93.84%
(7) Information of the amounts due from related parties
Unit: RMB Yuan
Name of entity Relationship with the Company Amount Proportion of the total (%)
Guangdong Fozhao Guoxuan
Associated enterprises 614,853.41 0.83%
Power Energy Co., Ltd.
Qinhai Fozhao Li Energy
Associated enterprises 43,320,000.00 58.75%
Exploration Co., Ltd.
Total -- 43,934,853.41 59.58%
(8) Information of other accounts receivable that terminated recognition
Inapplicable
(9) If securitization is carried out on other accounts receivable as the underlying assets, please list amount
of assets and liabilities arising from further involvement
Inapplicable
8. Prepayment
(1) List by aging analysis:
Unit: RMB Yuan
Closing balance Opening balance
Aging Proportion Proportion
Amount Amount
(%) (%)
Within 1 year 66,230,033.62 79.30% 10,364,024.71 83.69%
1 year to 2
11,277,125.67 13.50% 1,140,000.00 9.21%
years
2 years to 3
5,792,353.30 6.94% 831,986.27 6.72%
years
101
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Over 3 years 222,796.27 0.26% 47,416.00 0.38%
Total 83,522,308.86 -- 12,383,426.98 --
(2) Information of the top 5 prepayment
Unit: RMB Yuan
Relationship with the
Name of entity Amount Aging Reason for unsettled
Company
Advance material
Unit 1 Related-party supplier 13,464,000.00 Within one year
payment
Non-related-party Advance material
Unit 2 9,332,881.99 Within two years
supplier payment
Non-related-party Advance material
Unit 3 6,836,736.00 Within two years
supplier payment
Non-related-party Advance material
Unit 4 6,018,649.20 Within one year
supplier payment
Non-related-party Advance material
Unit 5 5,003,950.00 Within one year
supplier payment
Total -- 40,656,217.19 -- --
(3) Information about amount due from shareholders with more than 5% (including 5%) of the voting
shares of the Company in prepayment
Inapplicable
(4) Notes of prepayment
Balance of prepayment in the period-end increased RMB 71,138,881.88 compared with the year-begin,
accounting to a increase of 574.47%, because of the increase of advanced material payment.
9. Inventory
(1) Category
Unit: RMB Yuan
Closing balance Opening balance
Item Impairment of Impairment of
Book balance Book value Book balance Book value
inventories inventories
Raw materials 108,658,417.43 178,720.29 108,479,697.14 83,862,206.49 178,720.29 83,683,486.20
Construction
5,561,158.27 1,956,888.21 3,604,270.06 1,956,894.15 391,372.89 1,565,521.26
contract assets
102
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Inventory goods 275,625,127.32 275,625,127.32 248,832,503.39 248,832,503.39
Self-made
semi-finished 110,236,672.45 110,236,672.45 98,555,279.40 98,555,279.40
products
Low-value
2,010,697.84 130,691.98 1,880,005.86 2,035,287.92 130,691.98 1,904,595.94
consumption goods
Total 502,092,073.31 2,266,300.48 499,825,772.83 435,242,171.35 700,785.16 434,541,386.19
(2) Impairment of inventories
Unit: RMB Yuan
Provision for this Decrease
Category Opening balance Closing balance
period Switch back Written off
Raw materials 178,720.29 178,720.29
Construction contract
391,372.89 1,565,515.32 1,956,888.21
assets
Low-value
130,691.98 130,691.98
consumption goods
Total 700,785.16 1,565,515.32 2,266,300.48
(3) Details of provision for falling price of inventories
Proportion of the reversed
Basis for the inventory falling Reason for reversal of the
Item amount in the closing balance
price provision inventory falling price provision
of the inventory (%)
The lower between the cost and
Products in process
the net realizable value
According to the Ferrous Phosphate Lithium Test Report No. KL-E13085 issued by the No. 18 Research Institute
of China Electronics Technology Group Corporation, the Company made a falling price provision for the stock of
ferrous phosphate lithium of Qinghai Fozhao Lithium Ion Battery Cathode Materials Co., Ltd.
10. Other current assets
Unit: RMB Yuan
Item Closing balance Opening balance
Pending deduct VAT on purchase 16,477,687.08 2,935,179.47
Total 16,477,687.08 2,935,179.47
Notes of other current assets:
Other current assets apply pending deduct VAT on purchase.
103
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
11. Available-for-sale financial assets
(1) Information of available-for-sale financial assets
Unit: RMB Yuan
Item Closing fair value Opening fair value
Others 67,343,756.48 71,817,642.40
Total 67,343,756.48 71,817,642.40
In the reporting period, the Company reclassified the held-to-maturity investment into available-for-sale financial
assets, a total of RMB0.00 was reclassified, which takes 0% of total matured investment before reclassification.
Notes of available-for-sale financial assets
On 18 August 2013, China Everbright Bank Co., Ltd. issued its stocks at Shanghai Security Trading Center. The
Company obtained 23,546,768.00 shares of China Everbright Bank with fair value in period-end of RMB
67,343,756.48, a decrease of RMB 4,473,885.92 comparing to the year-begin. The Company decreased deferred
income tax liability of RMB 671,082.88 and cut RMB 3,802,803.04 of capital reserve.
(2) Long-term liability investment of available-for-sale financial assets
Inapplicable
12. Held-to-maturity investment
Inapplicable
13. Long-term accounts receivable
Inapplicable
14. Investment to joint ventures and associated enterprises
Unit: RMB Yuan
Percentage of Voting
Name of Nature of Registration Legal Nature of Registered holding shares percentage of
investee enterprises place representative business capital of the the Company
Company in investee
I. Joint ventures
II. Associated enterprises
Qinghai FSL
Lithium
38% 38% 124,640,260.34 43,720,000.00 80,920,260.34 0.00 -5,152,157.72
Energy
Exploitation
104
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Co., Ltd.
Guangdong
Fozhao
Guoxuan 50% 50% 2,743,727.58 -7,894,516.14 10,638,243.72 0.00 -705,907.74
Power Energy
Co., Ltd
Notes if significant differences exist between the important accounting policies and accounting estimations of
joint ventures, associated enterprises and the Company:
Inapplicable
15. Long-term equity investment
(1) List of long-term equity investment
Unit: RMB Yuan
Explanati
on for
indifferen
Withdraw
ces
n
Share between Cash
Voting impairme
Accounti Initial holding the share Impairme bonus in
Opening Increase/d Closing percentag nt
Investee ng investmen percentag holding nt the
balance ecrease balance e in provision
method t cost e in percentag provision reporting
investee in the
investee e and period
reporting
voting
period
percentag
e in
investee
Qinghai
FSL
Lithium
Equity 38,000,00 25,351,61 -1,957,81 23,393,79
Energy 38% 38% In accord
method 0.00 7.99 9.93 8.06
Exploitati
on Co.,
Ltd.
Guangdo
ng
Fozhao
Equity 12,600,00 5,672,075 -352,953. 5,319,121
Guoxuan 50% 50% In accord
method 0.00 .73 87 .86
Power
Energy
Co., Ltd
105
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Shenzhen
Liangke
Venture Cost 13,718,88 13,718,88 13,718,88
18.5% 18.5% In accord
Capital method 2.66 2.66 2.66
Company
Limited
Guangzh
ou
Zhujiang
Asset Cost 10,000,00 10,000,00 10,000,00 3,298,904
15.38% 15.38% In accord
Managem method 0.00 0.00 0.00 .81
ent
Company
Limited
Shenzhen
Zhonghao Cost 5,850,000 5,850,000 5,850,000 Less than Less than 5,850,000
In accord
(Group) method .00 .00 .00 5% 5% .00
Co., Ltd.
Chengdu
Hongbo Cost 6,000,000 6,000,000 6,000,000
6.94% 6.94% In accord
Industrial method .00 .00 .00
Co., Ltd.
Ximen
Cost 208,574,2 292,574,1 292,574,1
Bank Co., 7.99% 7.99% In accord
method 17.00 33.00 33.00
Ltd.
China
Guangfa Cost 500,000.0 500,000.0 500,000.0 Less than Less than
In accord
Bank Co., method 0 0 0 5% 5%
Ltd
Foshan
Fochen
Road
Cost 20,757,60 9,175,627 9,175,627
Develop 7.66% 7.66% In accord
method 0.00 .38 .38
ment
Company
Limited
Hefei
Guoxuan
High-tech Cost 160,000,0 160,000,0 160,000,0
14.9% 14.9% In accord
Power method 00.00 00.00 00.00
Energy
Co., Ltd.
476,000,6 528,842,3 -2,310,77 526,531,5 9,148,904
Total -- -- -- --
99.66 36.76 3.80 62.96 .81
106
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(2) Information of the limitation on the capability to transfer capital to investee
Inapplicable
16. Investment property
Inapplicable
17. Fixed assets
(1) Fixed assets details
Unit: RMB Yuan
Opening book Decrease in the Closing book
Item Increase in the reporting period
balance reporting period balance
I. Total original book value 1,697,741,571.70 38,470,301.42 63,942,023.01 1,672,269,850.11
Including: Property and
549,704,909.97 13,253,806.91 10,776,182.28 552,182,534.60
building
Machineries 1,109,628,117.57 23,888,071.34 52,807,611.57 1,080,708,577.34
Vehicles 19,830,236.32 269,179.86 252,000.00 19,847,416.18
Other equipment 18,578,307.84 1,059,243.31 106,229.16 19,531,321.99
Closing book
Opening book Increase in the Withdrawal in the Decrease in the
-- balance in
balance reporting period reporting period reporting period
currency period
II. Accumulated
1,157,308,382.29 43,344,540.90 41,438,296.61 1,159,214,626.58
depreciation
Including: Property and
305,093,103.58 12,593,303.67 6,417,094.42 311,269,312.83
building
Machineries 827,678,477.59 29,160,995.01 34,682,386.49 822,157,086.11
Vehicles 14,086,027.51 624,843.85 239,400.00 14,471,471.36
Other equipment 10,450,773.61 965,398.37 99,415.70 11,316,756.28
Opening book Closing balance in
-- --
balance current period
III. The net book value of
540,433,189.41 -- 513,055,223.53
fixed assets
Including: Property and
244,611,806.39 -- 240,913,221.77
building
Machineries 281,949,639.98 -- 258,551,491.23
Vehicles 5,744,208.81 -- 5,375,944.82
107
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Other equipment 8,127,534.23 -- 8,214,565.71
IV. Total impairment
1,288,167.03 -- 1,288,167.03
provision
Including: Property and
0.00 -- 0.00
building
Machineries 1,288,167.03 -- 1,288,167.03
Vehicles 0.00 -- 0.00
Other equipment 0.00 -- 0.00
V. Total book value of fixed
539,145,022.38 -- 511,767,056.50
assets
Including: Property and
244,611,806.39 -- 240,913,221.77
building
Machineries 280,661,472.95 -- 257,263,324.20
Vehicles 5,744,208.81 -- 5,375,944.82
Other equipment 8,127,534.23 -- 8,214,565.71
Depreciation amount of this reporting period was RMB43,344,540.90.RMB 34,422,105.09 was transferred into
fixed assets from construction project.
(2) Fixed assets leased out from operation lease
Inapplicable
(3) Information of fixed assets failed to accomplish certification of property
Inapplicable
(4) Notes of fixed assets
By 30 June 2013, the Company obtained not financial leasing and possessed fixed assets for sales.
18. Construction in progress
(1) Situation of construction in progress
Unit: RMB Yuan
Closing balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Fuwan Lighting Industrial
20,019,575.22 20,019,575.22 29,903,597.80 29,903,597.80
Park
108
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Furnace 10,941,970.41 10,941,970.41 12,042,118.83 12,042,118.83
Standard C Workshop 0.00 0.00 10,764,104.61 10,764,104.61
Fuwan Industrial Park
Lithium Battery 8,431,663.63 8,431,663.63 7,931,663.63 7,931,663.63
Manufacturing Workshop
Production lines of T8 and
8,601,701.21 8,601,701.21 7,033,225.95 7,033,225.95
metal-halide lamps
The second Workshop of LED 3,325,155.84 3,325,155.84 1,625,986.42 1,625,986.42
LED devices 1,184,908.18 1,184,908.18 880,532.13 880,532.13
Rebuilding of liya line 263,330.13 263,330.13 263,330.13 263,330.13
Production line of lithium iron
16,765,264.44 2,103,083.08 14,662,181.36 16,765,264.44 2,103,083.08 14,662,181.36
phosphate
Other 16,415,893.27 16,415,893.27 10,577,829.00 10,577,829.00
Total 85,949,462.33 2,103,083.08 83,846,379.25 97,787,652.94 2,103,083.08 95,684,569.86
(2) Significant changes in construction in progress
Unit: RMB Yuan
Includin
Project g:
Capitaliz
Transferr input Capitaliz capitaliz Source
Name of Opening ed to Other Project ation of Closing
Budget Increase percenta ation of ation of of
project balance fixed decrease process interest balance
ge of interest interest funding
assets rate (%)
budget this
period
Fuwan Later
Self-own
Lighting 30,152,0 29,903,5 6,777,89 16,661,9 period of 20,019,5
66.4% ed
Industria 00.00 97.80 4.32 16.90 the 75.22
capital
l Park project
Later
Self-own
11,500,0 12,042,1 14,183,3 15,283,5 period of 10,941,9
95.15% ed
00.00 18.83 57.92 06.34 the 70.41
capital
Furnace project
Standard
Project Self-own
C 11,301,6 10,764,1 537,500. 11,301,6
100.00% completi ed 0.00
Worksho 04.61 04.61 00 04.61
on capital
p
Fuwan Later Self-own
9,966,00 7,931,66 500,000. 8,431,66
Industria 84.6% period of ed
0.00 3.63 00 3.63
l Park the capital
109
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Lithium project
Battery
Manufac
turing
Worksho
p
Producti
on lines
Later
of T8 2,166,59 Self-own
9,746,56 7,033,22 598,116. period of 8,601,70
and 1.46 88.25% ed
5.12 5.95 20 the 1.21
metal-ha capital
project
lide
lamps
The
Later
second Self-own
4,139,29 1,625,98 1,699,16 period of 3,325,15
Worksho 80.33% ed
8.95 6.42 9.42 the 5.84
p of capital
project
LED
Later
Self-own
LED 1,385,00 880,532. 1,171,89 867,521. period of 1,184,90
85.55% ed
devices 0.00 13 7.39 34 the 8.18
capital
project
Early
Self-own
Rebuildi 5,000,00 263,330. period of 263,330.
5.27% ed
ng of 0.00 13 the 13
capital
liya line project
Producti
on line
Later
of Self-own
20,000,0 16,765,2 period of 16,765,2
lithium 0.00 83.83% ed
00.00 64.44 the 64.44
iron capital
project
phosphat
e
Middle
Self-own
37,612,9 10,577,8 13,520,5 6,371,35 1,311,14 period of 16,415,8
Other 43.64% ed
50.45 29.00 66.12 6.60 5.25 the 93.27
capital
project
140,803, 97,787,6 40,556,9 34,422,1 17,973,0 85,949,4
Total -- -- -- --
419.13 52.94 76.63 05.09 62.15 62.33
110
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(3) Impairment provision of construction in progress
Unit: RMB Yuan
Increase in the Decrease in the Reason for
Item Opening amount Closing balance
reporting period reporting period withdrawal
lithium iron
phosphate
2,103,083.08 0.00 0.00 2,103,083.08
production line
Total 2,103,083.08 0.00 0.00 2,103,083.08 --
(4) Information of procedures of significant construction in progress
Item Project process Note
Fuwan Lighting Industrial Park Later period of the item
Furnace Later period of the item
Standard C Workshop Item complete
Fuwan Industrial Park Lithium Battery
Later period of the item
Manufacturing Plants
Production lines of T8 and metal-halide
Later period of the item
lamps
LED No. 2 workshop Later period of the item
LED instruments Later period of the item
Rebuilding of liya line Early period of the item
Production line of lithium iron phosphate Later period of the item
(5) Notes of construction in progress
— None of each item of the construction in progress has to grant the capitalization of interest and exchange gains
and losses.
—Mainly of other decreased items in this period are due to the land costs which had carried forward.
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2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
19. Engineering materials
Inapplicable
20. Clearance of fixed assets
Inapplicable
21. Productive biological assets
Inapplicable
22. Oil and gas assets
Inapplicable
23. Intangible assets
(1) Information
Unit: RMB yuan
Item Opening balance Increase in this period Decrease in this period Closing balance
I. Total original book value 187,934,496.31 16,661,916.90 4,209,700.00 200,386,713.21
Land use right 187,734,496.31 16,661,916.90 4,209,700.00 200,186,713.21
Patent 200,000.00 200,000.00
II. Total accrued amortization 37,510,104.55 1,796,063.59 1,365,912.00 37,940,256.14
Land use right 37,333,437.53 1,786,063.57 1,365,912.00 37,753,589.10
Patent 176,667.02 10,000.02 186,667.04
III. Total net book value of
150,424,391.76 14,865,853.31 2,843,788.00 162,446,457.07
intangible assets
Land use right 150,401,058.78 14,875,853.33 2,843,788.00 162,433,124.11
Patent 23,332.98 -10,000.02 0.00 13,332.96
IV. Total impairment
0.00 0.00 0.00 0.00
provision
Land use right
Patent
V. Total book value of
150,424,391.76 14,865,853.31 2,843,788.00 162,446,457.07
intangible assets
Land use right 150,401,058.78 14,875,853.33 2,843,788.00 162,433,124.11
112
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Patent 23,332.98 -10,000.02 0.00 13,332.96
Amortization is of RMB 1,796,063.59 in the reporting period.
24. Goodwill
Inapplicable
25. Long-term amortization expense
Inapplicable
26. Deferred tax assets and liabilities
(1) Deferred tax assets and liabilities are not listed as the net value after offset
Deferred tax assets and liabilities that already recognized
Unit: RMB yuan
Item Closing balance Opening balance
Deferred income tax assets:
Provision for assets impairment 7,168,211.32 4,819,079.54
Deductible losses 2,032,351.34 2,032,351.34
Depreciation of fixed assets 5,840,153.26 9,501,888.63
Payroll payable 3,669,592.37 6,501,646.52
Changes in fair value of trading financial asse
158,545.91 148,090.69
ts
Subtotal 18,868,854.20 23,003,056.72
Deferred income tax liabilities:
Fair value changes on available-for-sale financial
5,597,742.01 6,268,824.89
assets that recognized into capital reserves
Subtotal 5,597,742.01 6,268,824.89
List of taxable differences and deductible differences
Unit: RMB yuan
Amount of temporary differences
Item
Closing balance Opening balance
Taxable difference items
Property depreciation preparation 47,788,075.48 31,469,905.02
Depreciation of fixed assets 38,934,355.04 63,345,924.23
Payroll payable 24,463,949.15 43,344,310.15
113
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Changes in fair value of trading financial assets 1,056,972.70 987,271.25
Undistributed deficit 8,129,405.37 8,129,405.37
Subtotal 120,372,757.74 147,276,816.02
Deductible temporary differences
Fair value changes on available-for-sale financial
37,318,280.04 41,792,165.96
assets
Subtotal 37,318,280.04 41,792,165.96
(2) Deferred income tax assets and liabilities are listed as the net value after offset
Notes of deferred income tax assets and liabilities
Unit: RMB yuan
Deferred deductible
Deferred deductible
Deferred income tax Deferred income tax or taxable temporar
or taxable temporar
assets and liabilities assets and liabilities y differences at the
Item y differences at the
at the end of the at the opening of the opening of the per
end of the period
period period iod
Deferred income tax assets 18,868,854.20 23,003,056.72
Deferred income tax liabilities 5,597,742.01 6,268,824.89
27. List of provision for assets impairment
Unit: RMB yuan
Increase in this Decrease in this period
Item Opening balance Closing balance
period Reversal Written off
I. Provision for bad debt 22,350,804.61 16,288,405.88 39.82 38,639,170.67
II. Provision for inventory
700,785.16 1,565,515.32 2,266,300.48
falling price
III. Impairment provision of
9,148,904.81 9,148,904.81
long-term equity investment
IV. Impairment provision of
1,288,167.03 1,288,167.03
fixed assets
V. Impairment provision of
2,103,083.08 2,103,083.08
construction in progress
Total 35,591,744.69 17,853,921.20 39.82 53,445,626.07
114
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Notes:
Assets impairment increased is due to provision for accounts receivable and other bad debts preparation of
accounts receivable.
28. Other non-current assets
Unit: RMB yuan
Item Closing balance Opening balance
Land purchase and the ownership implicit of
41,755,700.00 41,755,700.00
relevant items
Prepayments for business facilities 1,543,500.54 786,030.00
Total 43,299,200.54 42,541,730.00
Notes of other non-current assets
Other non-current assets are mainly composed of land purchasing, the ownership implicit of relevant items and
prepayments for business facilities.
29. Short-term loan
Inapplicable
30. Trading financial liabilities
Inapplicable
31. Notes payable
Inapplicable
32. Accounts payable
(1) Information
Unit: RMB yuan
Item Closing balance Opening balance
Accounts payable 461,746,849.65 246,652,513.45
Total 458,090,616.25 246,652,513.45
(2) The accounts payable to shareholders with more than 5% (including 5%) of the voting shares of the
Company
115
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Unit: RMB yuan
Name of company Closing balance Opening balance
Prosperity Lamps & Components Limited 1,431,345.53 0.00
Total 1,431,345.53 0.00
(3) Notes of the large amount of accounts payable aging over one year:
The large amount of accounts payable aging over one year mainly is the materials unpaid accounts.
33. Advance from customers
(1) Information
Unit: RMB yuan
Item Closing balance Opening balance
Advance from customers 61,854,798.34 19,632,316.50
Total 61,854,798.34 19,632,316.50
(2) Advanced from customers from shareholders with more than 5% (including 5%) of the voting shares
of the Company
Inapplicable
(3) Notes of significant advance from customers aging over one year:
Significant advance from customers aging over one year mainly is the advances on sales.
34. Payroll payable
Unit: RMB yuan
Item Opening balance Increase in this period Decrease in this period Closing balance
I. Salary, bonus,
1,870.00 156,863,629.78 156,845,133.78 20,366.00
allowance, subsidy
II. Employee welfare 0.00 5,973,865.15 5,973,865.15
III. Social insurance 0.00 23,707,422.07 23,707,422.07
Including: Medical
8,590,381.97 8,590,381.97
insurance premiums
Basic endowment i
12,025,954.58 12,025,954.58
nsurance
Unemployment
739,188.67 739,188.67
insurance
116
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Work-related injury
1,249,816.78 1,249,816.78
insurance
Maternity insurance 1,102,080.07 1,102,080.07
IV. Housing fund 0.00 785,160.00 785,160.00
V. Redemption for
terminations of labor 0.00
contract
VI. Others 63,084,499.68 835,987.97 19,716,348.97 44,204,138.68
Including: Equity in
63,030,499.68 311,017.00 19,191,378.00 44,150,138.68
centive fund
Labour union
524,970.97 524,970.97
expenditure
Risk authoritarian
54,000.00 54,000.00
expenditure
Total 63,086,369.68 188,166,064.97 207,027,929.97 44,224,504.68
The amounts in arrears of payroll payable are RMB 0.
The labor union budget and employee education budget is RMB 524,970.97, and the non-monetary benefits are
RMB 0, s well as the compensation for terminating the labor contract is RMB 0.
35. Taxes payable
Unit: RMB yuan
Item Closing balance Opening balance
Value-added tax 7,024,983.95 11,124,036.95
Business tax 83,272.61 494,827.27
Corporate income tax 31,782,290.15 37,238,233.41
Personal income tax 10,240,110.43 102,401.34
Urban maintenance and construction tax 1,277,334.86 1,724,940.48
Other taxes and fares 2,063,749.72 8,307,608.17
Total 52,471,741.72 58,992,047.62
36. Interest payable
Inapplicable
37. Dividends payable
Inapplicable
117
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
38. Other accounts payable
(1) Information
Unit: RMB yuan
Item Closing balance Opening balance
Other accounts payable 28,837,844.99 37,085,568.58
Total 28,837,844.99 37,085,568.58
(2) Other accounts payable from shareholders with more than 5% (including 5%) of the voting shares of
the Company
Inapplicable
(3) Notes of the other large amount accounts payable aging over one year.
The other large amount accounts payable aging over one year mainly is the material margin paid by the
suppliers.
39. Estimated liabilities
Inapplicable
40. Non-current liabilities due within 1 year
Inapplicable
41. Other current liabilities
Inapplicable
42. Long-term loan
Inapplicable
43. Bonds payable
Inapplicable
44. Long-term payable
Inapplicable
45. Specific payable
Inapplicable
118
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
46. Other non-current liabilities
Unit: RMB yuan
Item Closing balance Opening balance
Governmental subsidy
Including: Governmental subsidy related to profits 0.00 0.00
Governmental subsidy related to assets. 19,191,441.69 19,353,441.69
Total 19,191,441.69 19,353,441.69
Notes of other non-current liabilities, including each government grants relevant to assets and income received in
the reporting period and their closing amounts:
Notes of government subsidy listed as follows:
Unit: RMB yuan
Item Closing balance Opening balance Note
Government subsidy
Including: 9,852,274.95 9,852,274.95 No 3174 document of Fa-Gai-Tou-Zi (2008) ―Nat
Incandescent lamps ional Development and Reform Commission on 2
convert electronic 009 Ten Major Energy Conservation Projects, Cir
energy saving lamps cular Economy and Industrial Pollution Treatmen
items t Projects in Key Watersheds and Investment Plan
of New Add Central Budget 2008‖
Lithium iron 4,400,000.00 4,400,000.00 No.62 document of Ning Kainan Administration
phosphate items and Finance [2011] ―Notice on the loan with
discount interest and investment subsidies of the
second batch of the double hundred‘ project and
industrial restructuring projects in 2011 issued in
Qinghai Province‖
Lithium battery 2,000,000.00 2,000,000.00 No.534 document of Qingdao Economic
cathode material of Investment [2011]
2,750 tons annual
output
Energy-saving 1,007,499.94 1,084,999.96 Government grant for pointed industry investmen
fluorescent lamps of t besides ―4 plus 8‖ industries in 2010 issued by
50 million annual Nanjing Financial Bureau
output
Lithium iron 1,000,000.00 1,000,000.00 No.136 document of Qingdao Planning and
phosphate industry Development [2011]
of 2,000 tons annual
output
Furnace 281,666.80 366,166.78 No. 689 document of NanFuFu
desulphurization and [2009] of government of Nanhai District
dust removal system ―specific subsidy for the desulfurization project‖
items
119
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
555a/t Lithium 500,000.00 500,000.00 No.12 document of Ning Kainan Administration
ferrous sulfate and Finance [2011] ―Notice on the development
production items funds issued in Qinghai province for the
medium-sized and small enterprises with local
characteristics in 2011‖
Lithium ferrous 150,000.00 150,000.00 No.56 document of Ning Kainan Administration
sulfate production and Finance [2011] ―Notice on the capital budget
technology research for the first patch of research and development of
the applications and industrial technology‖
Total: 19,191,441.69 19,353,441.69
47. Share capital
Unit: RMB yuan
Increase/Decrease (+/-)
Opening Capitalization Closing
Issuing new
balance Bonus shares of public Other Subtotal balance
shares
reserves
Total shares 978,563,745.00 978,563,745.00
48. Treasury stock
Inapplicable
49. Special reserves
Inapplicable
50. Capital reserves
Unit: RMB yuan
Item Opening balance Increase in this period Decrease in this period Closing balance
Capital premium (share
582,653,147.29 582,653,147.29
capital premium)
Other capital reserves 42,938,095.35 3,802,803.04 39,135,292.31
Provision for equity investment 4,514.43 4,514.43
Total 625,595,757.07 0.00 3,802,803.04 621,792,954.03
Notes:
—On 18 Agu. 2010, the shares of China Everbright Bank co., LTD listed in Shanghai Securities Trading Center.
The Company held 23,546,768.00 shares of Everbright Bank and its closing fair value is RMB 67,343,756.48,
decreased in an amount of RMB 4,473,885.92 when compared to the opening fair value. According to the relevant
rules, The Company decreased deferred income tax liability of RMB 671,082.88 and cut RMB 3,802,803.04 of
capital reserve.
120
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
51. Surplus reserves
Unit: RMB yuan
Item Opening balance Increase in this period Decrease in this period Closing balance
Legal surplus reserves 485,607,963.60 485,607,963.60
Discretional surplus reserves 136,886,568.36 136,886,568.36
Total 622,494,531.96 622,494,531.96
52. Provision for general risk
Inapplicable
53. Retained profits
Unit: RMB yuan
Withdrawal or distributed
Item Amount
proportion
Opening balance of retained profits before
723,452,942.14 --
adjustments
Opening balance of retained profits after
723,452,942.14 --
adjustments
Add: Net profit attributable to owners of the
153,047,291.37 --
Company
Dividend of common stock payable 303,354,760.95
Closing retained profits 573,145,472.56 --
List of adjustment of opening retained profits:
1) RMB000 opening retained profits was affected by retrospective adjustment conducted according to the
Accounting Standards for Business Enterprises and relevant new regulations.
2) RMB000 opening retained profits was affected by changes on accounting policies.
3) RMB000 opening retained profits was affected by correction of significant accounting errors.
4) RMB000 opening retained profits was affected by changes in combination scope arising from same control.
5) RMB000 opening retained profits was affected totally by other adjustments.
54. Revenue and Cost of Sales
(1) Revenue and Cost of Sales
Unit: RMB yuan
Item Reporting period Same period of last year
Sales of main business 1,182,317,613.69 1,053,241,246.58
Other operating income 25,942,832.37 11,095,877.67
121
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Cost of sales 925,675,209.12 792,978,460.81
(2) Main business (Classified by industry)
Unit: RMB yuan
Reporting period Same period of last year
Industry
Revenue of sales Costs of sales Revenue of sales Costs of sales
Lighting components and lamps 1,182,317,613.69 909,136,643.67 1,043,293,038.07 781,366,213.55
Revenue of hotels 9,948,208.51 7,316,095.61
Total 1,182,317,613.69 909,136,643.67 1,053,241,246.58 788,682,309.16
(3) Main business (Classified by product)
Unit: RMB yuan
Reporting period Same period of last year
Product
Revenue of sales Costs of sales Revenue of sales Costs of sales
Lighting components and lamps 1,182,317,613.69 909,136,643.67 1,043,293,038.07 781,366,213.55
Revenue of hotels 9,948,208.51 7,316,095.61
Total 1,182,317,613.69 909,136,643.67 1,053,241,246.58 788,682,309.16
(4) Main business (Classified by area)
Unit: RMB yuan
Reporting period Same period of last year
Area
Revenue of sales Costs of sales Revenue of sales Costs of sales
Lighting components and lamps:
Domestic sales 854,494,345.56 669,777,009.95 727,821,911.07 552,853,906.65
Export sales 327,823,268.13 239,359,633.72 315,471,127.00 228,512,306.90
Revenue of hotels
Domestic 9,948,208.51 7,316,095.61
Total 1,182,317,613.69 909,136,643.67 1,053,241,246.58 788,682,309.16
(5) The revenue of sales from the top five customers
Unit: RMB yuan
Customer Main business revenue Proportion of total business revenue (%)
Customer 1 36,306,125.75 3.00%
Customer 2 28,636,251.38 2.37%
122
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Customer 3 23,298,724.88 1.93%
Customer 4 19,978,405.61 1.65%
Customer 5 17,452,839.47 1.44%
Total 125,672,347.09 10.39%
55. Contract project incomes
Inapplicable
56. Business tax and surcharges
Unit: RMB yuan
Item Reporting period Same period of last year Calculation and payment standard
Business tax 409,637.15 531,867.02 5% of taxable income
Urban maintenance and construction
7,714,158.28 5,748,365.40 7% of turnover tax
tax
Education surtax 5,573,835.89 4,111,763.41 3-5% of turnover tax
Others 34,961.20
Total 13,697,631.32 10,426,957.03 --
57. Selling expenses
Unit: RMB yuan
Item Reporting period Same period of last year
Traffic expenses 21,153,629.91 17,878,656.24
Energy saving product promotion services
832,380.00 3,824,428.36
expenses
Wages 12,193,767.40 9,037,350.15
Advertising, business costs 4,688,044.76 7,668,942.23
Commission 1,127,337.29 1,356,104.15
Travel expenses 1,423,080.88 1,585,873.35
Others 3,012,999.84 5,602,526.71
Total 44,431,240.08 46,953,881.19
58. Administration expenses
Unit: RMB yuan
Item Reporting period Same period of last year
123
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
The worker wages and salaries 13,261,609.74 14,423,324.60
Depreciation expenses 7,942,950.50 7,060,459.58
Tax fees 5,905,536.61 12,988,961.62
Administrative expenses 2,924,002.32 2,844,735.16
Depreciation on intangible assets 1,796,063.59 2,263,962.06
R&D expenses 1,944,808.32 500,000.00
Testing expense 849,289.88 1,322,108.76
Others 43,308,140.57 34,160,813.69
Total 77,932,401.53 75,564,365.47
59. Financial expenses
Unit: RMB yuan
Item Reporting period Same period of last year
Interest expenses -8,345,219.86 -6,953,693.08
Exchange losses 3,317,882.75 -540,017.49
Others 1,063,519.22 334,116.39
Total -3,963,817.89 -7,159,594.18
60. Gains and losses from changes in fair value
Unit: RMB yuan
Source Reporting period Same period of last year
Trading financial assets -69,701.45 64,722.78
Total -69,701.45 64,722.78
61. Investment income
(1) List of investment income
Unit: RMB yuan
Item Reporting period Same period of last year
Long-term equity investment income accounted by
14,571,414.00
cost method
Long-term equity investment income accounted by
-2,310,773.80 -1,218,791.19
equity method
Investment income received from holding of
1,365,712.54 3,131,720.14
available-for-sale financial assets
124
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Total -945,061.26 16,484,342.95
(2) Long-term equity investment income accounted by cost method
Unit: RMB yuan
Same period of last
Name of investee Reporting period Reason for increase/decrease
year
Haven‘t receive the dividend payme
Xiamen Bank Inc. 14,571,414.00
nt of the Bank in this period
Total 0.00 14,571,414.00 --
(3) Long-term equity investment income accounted by equity method
Unit: RMB yuan
Same period of last
Name of investee Reporting period Reason for increase/decrease
year
Qinghai Fozhao Lithium Energy
-1,957,819.93 124,436.84 Loss in this period
Development Co., Ltd.
Guangdong Fozhao Guoxuan Power
-352,953.87 -1,343,228.03 Loss decreased in this period
Battery Co., Ltd.
Total -2,310,773.80 -1,218,791.19 --
62. Impairment losses
Unit: RMB yuan
Item Reporting period Same period of last year
I. Loss on bad debts 16,288,405.88 1,158,138.87
Asset impairment loss on inventories 1,565,515.32 0
Total 17,853,921.20 1,158,138.87
63. Non-operating gains
(1) List of non-operating gains
Unit: RMB yuan
Included in the amount of
Item Reporting period Same period of last year the non-recurring gains and
losses of the current period
Total gains from disposal of non-current
16,786,499.21 16,786,499.21
assets
Including：Gains from disposal of fixed 10,337,873.72 10,337,873.72
125
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
assets
Gains from disposal of intangible
6,448,625.49 6,448,625.49
assets
Government grants 54,481,517.78 382,000.00 302,499.98
Others 412,143.18 501,683.34 412,143.18
Total 71,680,160.17 883,683.34 17,501,142.37
(2) List of government grants
Unit: RMB yuan
Item Reporting period Same period of last year Notes
Province energy-saving special
90,000.00
funds in 2011
Guangdong Province special funds
for exploiting international market 71,000.00
in 2010
Special funds for transformation
1,000.00
and upgrading of processing trade
Foshan special funds for promoting
the development of processing 30,000.00
trade in 2011
Special funds for transformation
and upgrading of processing trade
60,000.00
(Project on increasing domestic
demands)
Foshan special funds for exploiting
30,000.00
international market in 2011
Award for major taxpayer 100,000.00
Financial subsidies of efficient
54,179,017.80
lighting products promoting project
Foshan project funding of
supporting relevant economic 200,000.00
development items
Incentive subsidy funds of No.36
groups of early retirement incen 18,000.00
tive of yellow label car
Furnace desulphurization system i
84,499.98
tems
Total 54,481,517.78 382,000.00 --
126
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Notes of non-operating gains: ―Financial subsidies of efficient lighting products promoting project‖ in this
period increased in great amount was mainly due to the reference of the affirm income of government
energy subsidies of the No.3 Document of State Administration of Taxation (2013).
64. Non-operating expenses
Unit: RMB yuan
Included in the amount
of the non-recurring
Item Reporting period Same period of last year
gains and losses of the
current period
Loss on disposal of non-current assets 908,276.06 119,256.76 908,276.06
Including: Loss on disposal of fixed assets 908,276.06 119,256.76 908,276.06
External donation 5,600,000.00 5,600,000.00
Others 4,192,162.77 2,361,959.53 2,881,017.52
Total 10,700,438.83 2,481,216.29 9,389,293.58
65. Income tax expense
Unit: RMB yuan
Item Reporting period Same period of last year
Current income tax expense accounted by tax and relevant
37,895,236.07 25,994,129.93
regulations
Adjustment of income tax 1,719,106.18 -377,470.32
Total 39,614,342.25 25,616,659.61
66. Calculation procedure of basic earnings per share and diluted earnings per share
(1) Basic EPS =P0÷S
S= S0+S1+Si×Mi÷M0– Sj×Mj÷M0-Sk(= total number of shares at the period-begin + the number of shares
increased due to transferring capital reserve into share capital + number of shares increased due to issuance of new
shares * the next month for increase of shares/the number of months during the reporting period)
Of which: P0 refers to net profit attributable to shareholders holding ordinary shares or net profit attributable to
shareholders holding ordinary shares after deducting non-recurring gains and losses; S weighted average number
of ordinary shares issued out; S0 refers to total number of shares at the period-begin; S1 refers to the number of
shares increased due to transferring capital reserve into share capital or dividend distribution of shares during the
reporting period; Si refers to the number of shares increased due to issuance of new shares or debt for equity swap
during the reporting period; Sj refers to the number of shares decreased due to stock repurchase during the
reporting period; Sk refers to the number of split-share during the reporting period; M0 refers to the number of
months during the reporting period; Mi refers to the number of months from the next month to the end of the
reporting period for increase of shares; Mj refers to the number of months from the next month to the end of the
reporting period for decrease of shares
127
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Denominator of EPS for 2012 and 2011 being: S= 978,563,745 shares
(2) Diluted EPS =P1/(S0+S1+Si×Mi÷M0–Sj×Mj÷M0–Sk+ weighted average amount of ordinary shares increased
due to subscription warrant, stock options, convertible bonds, etc.)
Of which, P1 refers to net profit attributable to shareholders holding ordinary shares or net profit attributable to
shareholders holding ordinary shares after deducting non-recurring gains and losses. The Company considered all
influence of dilutive potential ordinary share against net profit and made adjustment according to the provisions of
Accounting Standard for Business Enterprise. When the Company calculated diluted EPS, it shall consider all
influence of dilutive potential ordinary share against net profit attributable to shareholders holding ordinary shares
or net profit attributable to shareholders holding ordinary shares after deducting non-recurring gains and losses,
till to minimum diluted EPS.
67. Other comprehensive income
Unit: RMB yuan
Item Reporting period Same period of last year
1. Profits/(losses) from available-for-sale financial assets -4,473,885.92 -235,467.68
Less: Effects on income tax generating from available-for-sale
-671,082.88 -35,320.15
financial assets
Subtotal -3,802,803.04 -200,147.53
Total -3,802,803.04 -200,147.53
68. Notes of Cash Flow Statement
(1) Other cash received relevant to operating activities
Unit: RMB yuan
Item Amount
Equity transfer in advance 17,200,000.00
Interests on deposit 8,337,902.92
Scrap revenues 2,552,937.61
Property and rental income 812,350.42
Interest on deposits 930,000.00
Others 1,319,817.69
Total 31,153,008.64
128
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(2) Other cash paid relevant to operating activities
Unit: RMB yuan
Item Amount
Offering the grants in aid to the joint ventures 43,320,000.00
Transportation fees 27,848,017.59
Advertising fees 4,688,044.76
Energy-saving promotion fees 832,380.00
Office expenses 3,387,890.98
Travel expenses 1,423,080.88
Commissions 1,127,337.29
Donations, punishment and compensations 8,501,933.32
Margins 1,860,660.00
Spare parts, maintenances, and service charges 2,956,475.14
Audit fees, legal fees, appraisal fees, inspection fees 4,017,433.22
Others 6,628,881.21
Total 106,592,134.39
(3) Other cash received relevant to investment activities
Inapplicable
(4) Other cash paid relevant to investment activities
Inapplicable
(5) Other cash received relevant to financing activities
Inapplicable
(6) Other cash paid relevant to financing activities
Inapplicable
69. Supplemental information for Cash Flow Statement
(1) Supplemental information for Cash Flow Statement
Unit: RMB yuan
Supplemental information Reporting period Same period of last year
129
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
1. Reconciliation of net profit to net cash flows generated
-- --
from operations：
Net profit 152,984,477.08 133,749,788.23
Add: Provision for assets impairments 17,853,921.20 1,158,138.87
Depreciation of fixed assets, oil-gas assets and productive
43,344,540.90 47,683,848.31
biological assets
Amortization of intangible assets 1,796,063.59 2,163,962.06
Losses/gains on disposal of property, intangible asset and
-15,475,353.96 119,256.76
other long-term assets (gains: negative)
Losses/gains on scrapped of fixed assets (gains:
908,276.06
negative)
Losses/gains from variation of fair value (gains: negative) 69,701.45 -64,722.78
Financial cost (income: negative) 2,050,576.88 237,375.56
Investment loss (gains: negative) 945,061.26 -16,484,342.95
Decrease in deferred tax assets (increase: negative) 4,134,202.52 594,502.96
Increase in deferred tax liabilities (decrease: negative) -65,284,386.64 4,800,612.27
Decrease in inventory (increase: negative) -243,976,257.07 -13,839,413.51
Decrease in accounts receivable from operating activities
112,361,429.34 74,366,509.05
(increase: negative)
Net cash flows generated from operating activities 11,712,252.61 234,485,514.83
2. Significant investing and financing activities without
-- --
involvement of cash receipts and payments
3. Change of cash and cash equivalent: -- --
Closing balance of Cash 736,404,066.66 926,267,115.32
Less: opening balance of cash 985,450,890.74 690,691,751.15
The net increase in cash and cash equivalents -249,046,824.08 235,575,364.17
（2）Relevant information of acquisition or disposal of subsidiaries and other operation entities in the
reporting period
Unit: RMB yuan
Supplemental information Reporting period Same period of last year
I. Relevant information on acquisition of subsidiaries and
-- --
other operation entities:
Cash and cash equivalents paid for acquisition of
subsidiaries and other operation entities
II. Relevant information on disposal of subsidiaries and
-- --
other operation entities
130
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Cash and cash equivalents received for disposal of
8,620,727.49
subsidiaries and other operation entities 物
（3）Composition of cash and cash equivalents
Unit: RMB yuan
Item Closing balance Opening balance
I. Cash 736,404,066.66 985,450,890.74
Including: Cash on hand 11,528.77 4,646.82
Bank deposit on demand 720,577,207.59 980,371,648.14
Other monetary funds on demand 15,815,330.30 5,074,595.78
II. Closing balance of cash and cash equivalents 736,404,066.66 985,450,890.74
70. Notes to statement of changes in owners’ equity
Inapplicable
VIII. Accounting treatment of assets securitization business
Inapplicable
IX. Related Parties and Related-party Transactions
1. Information of the parent company of the Company
Inapplicable
2. Information of subsidiaries of the Company
Unit: RMB yuan
Percentage
Legal Percentage
Business Registered Business Registered of Organizatio
Full name Type representati of voting
type place nature capital Shareholdin n code
ve right (%)
g (%)
Manufacturi
Foshan ng
Chansheng 64 Fenjiang electronic
Controlled Limited 1,000,000.0
Electronic North Road, Pan Jie ballasts, 75% 75% 75207544-3
subsidiary company 0
Ballast Co., Foshan electronic
Ltd. transformer
s and
131
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
electronic
triggers.
Production
and
operation of
lamps,
electric
Foshan Cangjiang
light source
Chanchang Industrial
products
Electric Controlled Limited Park, Zhong 72,782,944.
and 70% 70% 77920377-5
Appliance subsidiary company Gaoming Xincai 00
accessories,
(Gaoming) District,
installation
Co., Ltd. Foshan
and related
engineering
and
consulting
business.
Research,
developmen
t,
production
Foshan Cangjiang
and sales of
Taimei Industrial
lighting,
Times Controlled Limited Park, Zhong
household 500,000.00 70% 70% 78203558-1
Lamps and subsidiary company Gaoming Xincai
appliances
Lanterns District,
and
Co., Ltd. Foshan
accessories
and other
lighting
products.
Production
of
energy-savi
Nanjing ng
Fozhao Honglan photoelectri
Lighting Town, c source
Controlled Limited Zhong 41,683,200. 74539880-
Component Lishui products, 100% 100%
subsidiary company Xincai 00 X
s County, lamps and
Manufacturi Nanjing lanterns,
ng Co., Ltd. light source
equipments,
illumination
engineering;
132
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
technologic
al
developmen
t of
energy-savi
ng and
production
of relevant
components
; sales of
self-product
ion products
R&D and
production
of electric
Hefu Road light source
E., lamp
Foshan
Cangjiang products
Lighting
Controlled Limited Industrial Zhong and relevant 5,000,000.0
Lamps and 100% 100% 68638090-8
subsidiary company Park, Xincai electric 0
Lanterns
Gaoming engineering
Co., Ltd.
District, materials,
Foshan metal
material and
non-metal
material
Production
and sales of
electric
light source
equipment
and electric
428, Office
light source
Foshan Building,
products,
Electrical & Managemen
Controlled Limited Zhong sales of 10,000,000.
Lighting t Board, 100% 100% 68818685-0
subsidiary company Xincai accessories 00
(Xinxiang) Xinxiang
of electric
Co., Ltd. Industrial
light source,
Park, Henan
electric
light source
materials,
electric
engineering
materials,
133
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
accessories
for motor
vehicles,
lamps and
components
4/F, 26
Qinghai
Chuangye Production
Fozhao
Road, and sales of
Lithium Ion
Controlled Limited Nanchuan Zhong lithium ion 42,000,000.
Battery 51% 51% 69854199-1
subsidiary company Industrial Xincai battery 00
Cathode
Park cathode
Materials
District, materials
Co., Ltd
Xining
Financing
lease, lease,
consultancy
and
guarantee of
lease;
financing
lease of
Guangdong
new-energy
Fozhao 64 Fenjiang
Controlled Limited Liu mobile and 200,000,000
Financial North Road, 100% 100% 57641298-0
subsidiary company Xingming main .00
Leasing Foshan
components
Co., Ltd.
, lighting
and
energy-savi
ng products,
as well as
some
project
R&D and
Foshan production
Nanhai of electric
Foshan District light source
Lighting Controlled Limited Luocun Liu lamp prod 15,000,000.
100% 100% 06851850-0
Equipment subsidiary company Town Xingming ucts and el 00
Co., Ltd. Business ectric light
Industrial source pro
Zone ducts, sales
of accesso
134
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
ries of elec
tric light s
ource, elect
ric light so
urce materi
als, electric
engineerin
g materials,
sales of li
ghting and
accessories,
electric en
gineering
materials, a
ccessories f
or motor v
ehicles, ho
usehold ap
pliances, el
ectrical soc
ket and sw
itch, fire fi
ghting prod
ucts,
ventilation
equipment,
LED
products…
3. Information of joint ventures and associated enterprises
Percentage
Legal
Name of Business Registered Business Registered of Relationshi Organizatio
representati Currency
investee type address nature capital shareholdin p n code
ve
g (%)
I. Joint ventures
II. Associated enterprises
Qinghai Comprehen
FSL sive develo
Share
Lithium Limited Zhong pment and
Qinghai 100,000,000 38% 38% company 69918800-2
Energy company Xincai utilization
Exploitation of salt lake
Co., Ltd. resources
135
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
R&D,
Guangdong
production
Fozhao
and sales of Share
Guoxuan Limited
Foshan Li Zhen lithium-ion 50,000,000 50% 50% company 57787827-2
Power company
battery and
Energy Co.,
its control
Ltd.
system
4. Information of other related parties of the Company
Name of other related party Relationship Organization code
Prosperity (Hangzhou) Lighting and Holding 5% or more shares of a legal
74203276-5
Electrical Co., Ltd. person acting in concert
Hangzhou Times Lighting and Electrical Holding 5% or more shares of a legal
67918465-0
Co., Ltd. person acting in concert
Holding 5% or more shares of a legal
Prosperity Electrical (China) Co., Ltd. 60136020-4
person acting in concert
Shareholder holding more than 5%
Prosperity Lamps & Components Limited 250727
equity of the Company
Zhejiang Youchang Lighting Appliance Holding 5% or more shares of a legal
Canceled
Co., Ltd. person acting in concert
Prosperity (Xinxiang) Electro-Optical Holding 5% or more shares of a legal
76946523-7
Machinery Co., Ltd person acting in concert
Prosperity (Xinxiang) Lighting Machinery Holding 5% or more shares of a legal
68568572-6
Co., Ltd. person acting in concert
Prosperity Lewanli (Hangzhou) Metal Holding 5% or more shares of a legal
79969289-5
Products Co., Ltd. person acting in concert
Jinzhou Youxin Electronic Materials Co., Related natural person as a director of the
76540062-0
Ltd. Company
Holding 5% or more shares of a legal
Fuyu Industrial Co., Ltd. 220562
person acting in concert
Holding 5% or more shares of a legal
Gengduoliang Lighting Co., Ltd. 293573
person acting in concert
Jinzhou Changhua Carbon Products Co., Related natural person as a director of the
78878801-5
Ltd. Company
Related natural person as a director of the
Prosperity Nanlong Co., Ltd. 561342
Company
Related natural person as a director of the
Nanlong Investment Co., Ltd. 147431
Company
136
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Related natural person as a director of the
Xiangguang Appliance Co., Ltd. 06585123
Company
Holding 5% or more shares of a legal
OSRAM Holdings Limited 909380
person
Holding 5% or more shares of a legal
OSRAM (China) Lighting Co., Ltd. 61763873-3
person acting in concert
Holding 5% or more shares of a legal
OSRAM (Hong Kong) Co., Ltd. 1098945
person acting in concert
Holding 5% or more shares of a legal
OSRAM (Asia-Pacific) Co., Ltd. 1022109
person acting in concert
Related natural person as a director of the
OSRAM (Youchang) Co., Ltd. 530385
Company
Related natural person as a director of the
Guangzhou Zhongde Electronic Co., Ltd. 61878662-3
Company
Related natural person as a director of the
OSRAM Electronic Co., Ltd. 408480
Company
Related natural person as a director of the
OSRAM (Taiwan) Inc. 23060514
Company
Prosperity Xiteke Lighting (Langfang) Co., Related natural person as a director of the
75752065-7
Ltd. Company
OSRAM Opto Semiconductor (China) Co., Related natural person as a director of the
05524191-X
Ltd. Company
Related natural person as a director of the
OSRAM Opto Semiconductors Asia Ltd. 1161648
Company
Holding 5% or more shares of a legal
OSRAM Australia pty., Ltd. ACN 050 103 181
person acting in concert
Related natural person as a director of the
OSRAM India Pvt. Ltd. U31501HR1993PTC034712
Company
Related natural person as a director of the
OSRAM Korea Co Ltd. 110111-0546072
Company
Related natural person as a director of the
OSRAM Malaysia Sdn. Bhd. 491867-X
Company
Related natural person as a director of the
OSRAM Thailand Co Ltd. 0105537083620
Company
OSRAM Opto Semiconductors(Malaysia) Related natural person as a director of the
11935-P
Sdn Bhd. Company
Related natural person as a director of the
Siteco Lighting(Malaysia) Sdn Bhd 315345-A
Company
137
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Related natural person as a director of the
OSRAM Pte Ltd. 198900394M
Company
Holding 5% or more shares of a legal
Prosperity Electric Corporation 49296
person acting in concert
Holding 5% or more shares of a legal
Leigh Co., Ltd 58986
person acting in concert
Shanghai Beiyi Lighting Equipment Co., Company affected by related natural
74959758-2
Ltd. person
Shanghai Haiyue Screen Co., Ltd. Associated natural control of the Company 75318366-5
Shanghai Zhuowang International Trade
Associated natural control of the Company 69878181-3
Co., Ltd.
Qinghai Salt Lake Fozhao Lanke Lithium
Subsidiary of associated enterprises 78143985-9
Industry Co., Ltd.
Swanki (Foshan) Electric Corporation Associated natural control of the Company 66984855-6
Zlamp (Foshan) Enterprise Co., Ltd. Associated natural control of the Company 71470205-5
Qinghai Power New Energy Material Co., Company affected by related natural
67918465-0
Ltd. person
(HK) Qinghai Tianji Rare Elements Company affected by related natural
Technology Development Co., Ltd., person
Shanghai Liangqi Electrical Appliance Co.,
Associated natural control of the Company Canceled
Ltd.
Foshan Nanhai Guangming Electric
Associated natural control of the Company X1765759-4
Appliance Co., Ltd.
Foshan Gaoming District Ruibeike Electric Company affected by related natural
78203960-0
Lighting Source Materials Co., Ltd. person
Company affected by related natural
Foshan Feidelun Electric Co., Ltd. 56082515-8
person
Xiamen Jiandawei Optoelectronics
Associated natural control of the Company 57502784-5
Technology Co., Ltd
Nanjing Kaixiang Electric Lighting Source Company affected by related natural
79710047-0
Co., Ltd. person
Haolin Lighting & Electrical Department Company affected by related natural
of Foshan Chancheng District person
Foshan Hongbang Electrical & Lighting Company affected by related natural
72649983-2
Co., Ltd. person
Foshan Gaoming Shijia Lighting Co., Ltd. Associated natural control of the Company 66496642-2
Foshan Nanhai District Luocun
Associated natural control of the Company 74997476-3
TuoxiangPlastic Hardware Lighting
138
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Factory
Foshan Gaoming District Liangqi
Associated natural control of the Company 66496641-4
Appliance Co., Ltd.
Ruibeike North American Investment Co.,
Associated natural control of the Company
Ltd. (Canada)
Shenyang Zhongzhou Shenghua Financial
Associated natural control of the Company 78874823-2
Management Ltd.
Associated natural person as executives
Liaoning Huize CPA Limited of the Company 24333962-3
5. Related-party transactions
(1) Purchase of goods and acceptance of service
Unit: RMB yuan
Pricing method Reporting period Same period of last year
and
Content of the
Related party decision-making Proportio Proportio
transaction Amount Amount
procedures for the n (%) n (%)
transaction
Hangzhou Times
Lighting and Purchase of materials Market price 6,495.72 0%
Electrical Co., Ltd.
Prosperity Electrical
Purchase of materials Market price 14,826,972.16 1.43% 1,325,908.88 0.2%
(China) Co., Ltd.
OSRAM (China)
Purchase of materials Market price 62,400.00 0.01%
Lighting Co., Ltd.
Prosperity Lamps &
Purchase of materials Market price 2,124,394.74 0.2% 3,538,731.82 0.54%
Components Limited
Prosperity
(Xinxiang)
Purchase of materials Market price 29,709.50 0%
Electro-Optical
Machinery Co., Ltd.
Prosperity
XitekeLighting Purchase of materials Market price 1,352,030.73 0.13%
(Langfang) Co., Ltd.
Prosperity
(Xinxiang) Lighting Purchase of materials Market price 73,525.00 0.01%
Machinery Co., Ltd
Zlamp (Foshan)
Purchase of materials Market price 42,706.50 0.01%
Enterprise Co., Ltd.
139
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Nanjing Kaixiang
Electric Lighting Purchase of materials Market price 3,042,565.63 0.46%
Source Co., Ltd.
Foshan Feidelun
Purchase of materials Market price 11,485,828.88 1.75%
Electric Co., Ltd.
Xiamen Jiandawei
Optoelectronics Purchase of materials Market price 2,667,038.80 0.41%
Technology Co., Ltd
Foshan Nanhai
Guangming Electric Purchase of materials Market price 1,604,717.74 0.24%
Appliance Co., Ltd.
Prosperity Lamps & Purchase of
Market price 1,340,388.53 3.44%
Components Limited equipments
Prosperity(Xinxiang)
Purchase of
Electro-Optical Market price 122,913.12 0.02%
equipments
Machinery Co., Ltd.
Prosperity
Purchase of
(Xinxiang) Lighting Market price 720,598.29 1.85%
equipments
Machinery Co., Ltd
Sales of goods and rendering of service
Unit: RMB yuan
Pricing method Reporting period Same period of last year
and
Content of the
Related party decision-making Proportio Proportio
transaction Amount Amount
procedures for the n (%) n (%)
transaction
Prosperity
(Hangzhou) Lighting
Sales of products Market price 2,511,662.66 0.15% 200,536.41 0.02%
and Electrical Co.,
Ltd.
Prosperity Electrical
Sales of products Market price 507,807.33 0.03% 915,636.05 0.09%
(China) Co., Ltd.
OSRAM (China)
Sales of products Market price 5,577,548.29 0.34% 8,061,088.70 0.76%
Lighting Co., Ltd.
Prosperity Lighting
Sales of products Market price 23,298,724.88 1.44% 31,828,850.58 2.98%
Equipment Co., Ltd.
OSRAM
(Asia-Pacific) Co., Sales of products Market price 13,026.17 0.00%
Ltd.
Swanki (Foshan) Sales of products Market price 1,330,543.30 0.12%
140
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Electric Corporation
Zlamp (Foshan)
Sales of products Market price 1,512,785.15 0.14%
Enterprise Co., Ltd.
Foshan Hongbang
Electrical & Lighting Sales of products Market price 5,326,231.90 0.5%
Co., Ltd.
Foshan Feidelun
Sales of products Market price 6,123,165.25 0.57%
Electric Co., Ltd.
Nanjing Kaixiang
Electric Lighting Sales of products Market price 2,155,057.53 0.2%
Source Co., Ltd.
Haolin Lighting &
Electrical
Department of Sales of products Market price 200,564.03 0.02%
Foshan Chancheng
District
(2) Information of related party trust/contract
Inapplicable
(3) Information of related-party lease
Rental situation of the Company
Unit: RMB yuan
Rental income
Category of the Pricing basis for
Name of lessor Name of lessee Initial date Ending date recognized in the
leased assets the rental income
reporting period
Guangdong
Foshan Electrical
Fozhao Guoxuan
and Lighting Co., Plants 1, Apr, 2012 31, Mar, 2013 Negotiated price 122,005.78
Power Energy
Ltd.
Co., Ltd.
Lease situation of the Company
Inapplicable
(4) Information of related-party guarantee
Inapplicable
(5) Related-party call loan
Inapplicable
141
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(6) Information about assets transfer, debt reorganization of related parties
Inapplicable
(7) Other related-party transaction
—Sales commission paid
The Company signed a Product Sales Commission Agreement with Prosperity Lamps & Components Limited,
paying the relevant commissions with a certain ratio (3%~5%) of the actual amount of goods purchased by
Prosperity Lamps & Components Limited from it, and the total commission paid by the Company in the first half
year of 2013stood at RMB 952,980.69.
—Power charge
The Company collected a power charge of RMB 42,678.62 from Guangdong Fozhao Guoxuan Power Energy Co.,
Ltd. in the first half year of 2012.
6. Amounts due from/to related parties
Amount due from related parties
Unit: RMB yuan
Closing balance Opening balance
Name Related party Provision for bad Provision for bad
Book balance Book balance
debts debts
Prosperity
(Hangzhou) Lighting
Accounts receivable 2,478,190.94 148,691.46 806,749.31 48,404.96
and Electrical Co.,
Ltd.
Prosperity Electrical
Accounts receivable 501,380.72 30,082.84 456,177.84 27,370.67
(China) Co., Ltd.
OSRAM (China)
Accounts receivable 4,313,398.37 258,803.90 3,488,281.07 209,296.86
Lighting Co., Ltd.
Prosperity Lamps &
Accounts receivable 7,885,885.66 473,153.14 9,094,765.88 545,685.95
Components Limited
OSRAM
Accounts receivable (Asia-Pacific) Co., 6,613.24 396.79
Ltd.
Guangdong Fozhao
Other accounts receivable Guoxuan Power 614,853.41 36,891.20 342,799.42 20,567.97
Energy Co., Ltd.
Qinghai FSL Lithium
Other accounts receivable Energy Exploitation 43,320,000.00 2,599,200.00
Co., Ltd.
142
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Amount due to related parties
Unit: RMB yuan
Name Related party Closing balance Opening balance
Guangdong Fozhao Guoxuan
Other amounts payable 300.00 300.00
Power Energy Co., Ltd.
F1, No.13 Shop, No.18 of
Other amounts payable Fenjiang North Road (Zhong 2,100.00
Yongliang)
Zlamp (Foshan) Enterprise
Accounts payable 262.39 26,272.39
Co., Ltd.
Foshan Nanhai Guangming
Accounts payable 23,686.61
Electric Appliance Co., Ltd.
Hangzhou Times Lighting and
Accounts payable 6,495.72
Electrical Co., Ltd.
Prosperity Electrical (China)
Accounts payable 7,814,530.49
Co., Ltd.
OSRAM (China) Lighting
Accounts payable 62,400.00
Co., Ltd.
Prosperity Lamps &
Accounts payable 1,431,345.53
Components Limited
Prosperity (Xinxiang)
Accounts payable 11,179.50
Lighting Machinery Co., Ltd.
Foshan Feidelun Electric Co.,
Advance from customer 34,444.42
Ltd.
Nanjing Kaixiang Electric
Advance from customer 1,307.74
Lighting Source Co., Ltd.
Prosperity Electrical (China)
Advance from customer 13,464,000.00
Co., Ltd.
Prosperity (Xinxiang)
Advance from customer 472,419.00
Lighting Machinery Co., Ltd.
(X) Share-based Payment
1. Overview of share-based payment
Inapplicable
2. Information of equity-settled share-based payment
Inapplicable
143
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
3. Information of cash-settled share-based payment
Inapplicable
4. Information of share-based payment service
Inapplicable
5. Modification, termination of share-based payment
Inapplicable
(XI) Contingency
Inapplicable
(XII) Commitments
Inapplicable
(XIII)Events after the Balance Sheet Date
According to the “Proposal on Transferring Equity-holdings in Shenzhen Liangke Venture Capital Company
Limited” reviewed and approved at the 18th Session of the 6th Board of Directors on 28 Jun. 2012, up to 1 Jul.
2013, the Company had received all the transfer payment. On 22 Aug. 2013, the transfer of the 18.5% stake that
the Company had held in Shenzhen Liangke Venture Capital Company Limited was completed, generating a gain
about RMB 8.97 million.
(XIV)Notes of other significant events
1. Exchange of non-monetary assets
Naught
2. Debt reorganization
Naught
3. Business combination
Naught
4. Lease
Naught
5. Closing financial instruments that externally issued and convertible into shares
Naught
144
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
6. Fair value of assets and liabilities
Unit: RMB yuan
Included in the rig
Gains and losses of hts and interests o Provision for
Item Opening amount fair value in this f the cumulative c impairment in this Closing amount
period hanges in the fair period
value
Financial assets
1.Financial assets
recognized into current
gains and losses by
4,012,728.75 -69,701.45 3,943,027.30
calculated in fair value
(excluded derivative
financial assets)
2. Available-for-sale
71,817,642.40 -4,473,885.92 67,343,756.48
financial assets
Subtotal of financial
75,830,371.15 -69,701.45 -4,473,885.92 71,286,783.78
assets
Subtotal 75,830,371.15 -69,701.45 -4,473,885.92 71,286,783.78
Financial liabilities 0.00 0.00
7. Foreign financial assets and liabilities
Inapplicable
8. Main content of pension plans and significant changes
Inapplicable
(XV) Notes of main items in the financial statements of the parent Company
1. Accounts receivable
(1) Accounts receivable
Unit: RMB yuan
Closing balance Opening balance
Book balance Provision for bad debts Book balance Provision for bad debts
Category Propo
Proporti Proporti Proporti
Amount rtion Amount Amount Amount
on (%) on (%) on (%)
(%)
145
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Accounts receivable with
significant single amount
and individually 0.00 0% 0.00 0% 0.00 0% 0.00 0%
withdrawn bad debt
provision
Accounts receivable for which bad debt provisions are made on the group basis
89.17
Ordinary business group 570,079,691.16 34,204,781.47 6% 342,362,672.46 89.27% 20,541,760.35 6%
%
10.83
Internal business group 69,203,850.22 41,135,699.60 10.73%
%
Subtotal of the groups 639,283,541.38 100% 34,204,781.47 5.35% 383,498,372.06 100% 20,541,760.35 5.36%
Accounts receivable with
insignificant single
amount but individually 0.00 0% 0.00 0% 0.00 0% 0.00 0%
withdrawn bad debt
provision
Total 639,283,541.38 -- 34,204,781.47 -- 383,498,372.06 -- 20,541,760.35 --
In the groups, accounts receivable adopting balance percentage method to withdraw bad debt provision:
√ Applicable □ Inapplicable
Unit: RMB yuan
Closing balance Opening balance
Book balance Book balance
Aging
Proporti Bad debt provision Proporti Bad debt provision
Amount Amount
on (%) on (%)
Including: -- -- -- -- -- --
Within 1 year 492,667,223.74 86.42% 29,560,033.42 334,314,599.78 97.65% 20,058,875.99
1-2 years 73,911,455.26 12.97% 4,434,687.32 6,889,843.55 2.01% 413,390.61
2-3 years 3,501,012.16 0.61% 210,060.73 1,109,827.23 0.32% 66,589.63
Over 3 years 0.00 0.00% 0.00 48,401.90 0.01% 2,904.12
Total 570,079,691.16 -- 34,204,781.47 342,362,672.46 -- 20,541,760.35
In the groups, accounts receivable adopting other methods to withdraw bad debt provision:
√ Applicable □ Inapplicable
Unit: RMB yuan
Name of the groups Book balance Bad debt provision
Internal business group 69,203,850.22 0.00
Total 69,203,850.22 0.00
146
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(2) Information of accounts receivable reversed or recovered in the reporting period
Inapplicable
(3) Information of accounts receivable that written off in the reporting period
Unit: RMB yuan
Whether arising
Name of company Nature Date Amount Reason from related-party
transaction or not
Estimated to be
Small verification Payment for goods 10 June. 2013 39.82 No
irrecoverable
Total -- -- 39.82 -- --
Notes:
The small verification had been estimated to be irrecoverable.
(4)Information of shareholders with more than 5% (including 5%) of the voting shares of the Company in
accounts receivable in reporting period
Unit: RMB yuan
Closing balance Opening balance
Name of entity Withdrawal amount Withdrawal amount of
Book balance Book balance
of bad debts bad debts
Prosperity Lamps & Components
7,885,885.66 473,153.14 9,094,765.88 545,685.95
Limited
Total 7,885,885.66 473,153.14 9,094,765.88 545,685.95
(5) Nature or content of other accounts receivable with significant amount
Inapplicable
(6) Top five accounts receivable
Unit: RMB yuan
Name of company Relationship Amount Term Proportion (%)
Company 1 Non-related party 73,556,455.20 Within one year 11.51%
Company 2 Non-related party 26,354,116.07 Within two years 4.12%
Company 3 Non-related party 15,521,693.50 Within two years 2.43%
Company 4 Non-related party 13,562,625.79 Within two years 2.12%
Company 5 Non-related party 11,573,235.00 Within one year 1.81%
Total -- 140,568,125.56 -- 21.99%
147
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(7) Accounts receivable due from related parties
Unit: RMB yuan
Name of company Relationship Amount Proportion (%)
Prosperity (Hangzhou)
Holding 5% or more shares of a
Lighting and Electrical Co., 391,234.22 0.06%
legal person acting in concert
Ltd.
Prosperity Electrical (China) Holding 5% or more shares of a
501,380.72 0.08%
Co., Ltd. legal person acting in concert
OSRAM (China) Lighting Holding 5% or more shares of a
4,313,398.37 0.67%
Co., Ltd. legal person acting in concert
Prosperity Lamps & Holding 5% or more shares of a
7,885,885.66 1.23%
Components Limited legal person
OSRAM (Asia-Pacific) Co., Holding 5% or more shares of a
6,613.24 0.00%
Ltd. legal person acting in concert
Total -- 13,098,512.21 2.04%
(8)
RMB0.00 was transferred from the accounts receivable not meeting the conditions of termination
recognition.
(9) If securitization is carried out on accounts receivable as the underlying asset, please brief on the
arrangement of relevant transactions.
Inapplicable
2. Other accounts receivable
(1) Other accounts receivable
Unit: RMB yuan
Closing balance Opening balance
Provision for bad
Book balance Provision for bad debts Book balance
debts
Category
Propo Propo Propo Propo
Amount rtion Amount rtion Amount rtion Amount rtion
(%) (%) (%) (%)
Other accounts receivable
with significant single
50.35
amount and individually 17,190,000.00 17% 41,710,000.00
%
withdrawn bad debt
provision
148
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Other accounts receivable for which bad debt provisions are made on the group basis
52.57 13.82
Ordinary business group 53,148,772.55 3,188,926.35 6% 11,445,824.68 686,749.49 6%
% %
30.32
Internal business group 30,657,697.53 29,574,234.18 35.7%
%
82.89 49.52
Subtotal of the groups 83,806,470.08 3,188,926.35 41,020,058.86 686,749.49 1.67%
% %
Other accounts receivable
with insignificant single
amount but individually 106,552.50 0.11% 106,552.50 100% 106,552.50 0.13% 106,552.50 100%
withdrawn bad debt
provision
Total 101,103,022.58 -- 3,295,478.85 -- 82,836,611.36 -- 793,301.99 --
Other accounts receivable with significant single amount and individually withdrawn bad debt provision at
period-end:
In the groups, other accounts receivable adopting aging analysis method to withdraw bad debt provision:
√ Applicable □ Inapplicable
Unit: RMB yuan
Content of other accounts
Book balance Bad debts provision Withdrawal proportion Withdrawal reason
receivable
Foshan Gaoming District
Trading Center for 17,190,000.00 0.00 0% Land tender deposit
Tendering and Bidding
Total 17,190,000.00 0.00 -- --
In the groups, other accounts receivable adopting balance percentage method to withdraw bad debt provision:
√ Applicable □ Inapplicable
Unit: RMB yuan
Closing balance Opening balance
Book balance Book balance
Aging
Proporti Bad debt provision Proporti Bad debt provision
Amount Amount
on (%) on (%)
Including: -- -- -- -- -- --
Within 1 year 50,638,016.07 95.28% 3,038,280.96 8,445,314.98 73.79% 506,718.90
1-2 years 2,066,872.99 3.89% 124,012.38 2,496,171.43 21.81% 149,770.29
2-3 years 14,735.02 0.03% 884.10 170,809.63 1.49% 10,248.58
Over 3 years 429,148.47 0.80% 25,748.91 333,528.64 2.91% 20,011.72
Total 53,148,772.55 -- 3,188,926.35 11,445,824.68 -- 686,749.49
In the groups, other accounts receivable adopting other methods to withdraw bad debt provision:
√ Applicable □ Inapplicable
149
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Unit: RMB yuan
Name of the groups Book balance Bad debt provision
Internal business group 30,657,697.53 0.00
Total 30,657,697.53 0.00
Other accounts receivable with insignificant single amount but individually withdrawn bad debt provision at
period-end:
√ Applicable □ Inapplicable
Unit: RMB yuan
Content of other accounts
Book balance Bad debts provision Withdrawal proportion Withdrawal reason
receivable
Fangcheng County Yuli Estimated to be
106,552.50 106,552.50 100%
Glass Tube Co., Ltd. irrecoverable
Total 106,552.50 106,552.50 -- --
(2) Information of other accounts receivable reversed or recovered in the reporting period
Inapplicable
(3) Information of the write-off other accounts receivable
Inapplicable
(4) The other accounts receivable due from shareholders with more than 5% (including 5%) of the voting
shares of the Company in the reporting period
Inapplicable
(5) Nature or content of other accounts receivable with significant amount
Inapplicable
(6) Top five other accounts receivable
Unit: RMB yuan
Name of company Relationship Amount Term Proportion (%)
Company 1 Joint venture 43,320,000.00 Within 1 year 42.85%
Company 2 Non-related party 17,190,000.00 Within 1year 17%
Company 3 Non-related party 5,301,751.19 Within 1 year 5.24%
Company 4 Non-related party 1,568,550.00 1 to 2 years 1.55%
Company 5 Joint venture 614,853.41 Within 1 year 0.61%
Total -- 67,995,154.60 -- 67.25%
(7) Other account receivable due from related parties
Unit: RMB yuan
150
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Name of company Relationship Amount Proportion (%)
Guangdong Fozhao Guoxuan
Joint venture 614,853.41 0.61%
Power Energy Co., Ltd.
Qinghai FSL Lithium Energy
Joint venture 43,320,000.00 42.85%
Exploitation Co., Ltd.
Total -- 43,934,853.41 43.46%
(8)
RMB 000 was transferred from the other accounts receivable not meeting the conditions of termination
recognition.
(9) If securitization is carried out on accounts receivable as the underlying asset, please brief on the
arrangement of relevant transactions.
Inapplicable
3. Long-term equity investments
Unit: RMB yuan
Explanati
ons on
Withdraw
difference
al amount
s between
of Cash
Sharehold Voting sharehold Provision
Accounti Initial impairme bonus in
The Opening Increase/ Closing ing right ing for
ng investmen nt the
investee balance decrease balance Proportio Proportio proportio impairme
method t cost provision reporting
n n n and nt loss
in the period
voting
reporting
right
period
proportio
n
Subsidiar
y
Foshan
Chanshen
g Cost 750,000.0 750,000.0 750,000.0
75% 75% In accord
Electroni method 0 0 0
c Ballast
Co., Ltd.
Foshan
Chanchan Cost 42,000,00 42,000,00 42,000,00
70% 70% In accord
g Electric method 0.00 0.00 0.00
Applianc
151
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
e
(Gaoming
) Co.,
Ltd.
Foshan
Taimei
Times
Cost 350,000.0 350,000.0 350,000.0
Lamps 70% 70% In accord
method 0 0 0
and
Lanterns
Co., Ltd.
Nanjing
Fozhao
Lighting
Equipm Cost 72,000,00 72,000,00 72,000,00
100% 100% In accord
ent method 0.00 0.00 0.00
Manufac
turing
Co., Ltd.
Foshan
Electrical
&
Cost 10,000,00 10,000,00 10,000,00
Lighting 100% 100% In accord
method 0.00 0.00 0.00
(Xinxiang
) Co.,
Ltd.
Foshan
Lighting
Lamps Cost 5,077,000 5,077,000 5,077,000
100% 100% In accord
and method .00 .00 .00
Lanterns
Co., Ltd.
Qinghai
Fozhao
Lithium
Ion Cost 25,500,00 25,500,00 25,500,00 5,193,462
51% 51% In accord
Battery method 0.00 0.00 0.00 .77
Cathode
Materials
Co., Ltd
Guangdo Cost 200,000,0 200,000,0 200,000,0
100% 100% In accord
ng method 00.00 00.00 00.00
152
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Fozhao
Financial
Leasing
Co., Ltd.
Guangdo
ng
Fozhao
New
Cost 10,000,00 10,000,00 -10,000,0
Light 54.95% 54.95% In accord
method 0.00 0.00 00.00
Sources
Technolo
gy Co.,
Ltd.
Foshan
Zhaomin
g
Cost 15,000,00 15,000,00 15,000,00
Lighting 100% 100% In accord
method 0.00 0.00 0.00
Equipme
nt Co.,
Ltd.
Joint
venture
Qinghai
FSL
Lithium
Equity 38,000,00 25,351,61 -1,957,81 23,393,79
Energy 38% 38% In accord
method 0.00 7.99 9.93 8.06
Exploitati
on Co.,
Ltd.
Guangdo
ng
Fozhao
Equity 12,600,00 5,672,075 -352,953. 5,319,121
Guoxuan 50% 50% In accord
method 0.00 .73 87 .86
Power
Energy
Co., Ltd.
Other
investme
nts
Shenzhen
Cost 13,718,88 13,718,88 13,718,88
Liangke 18.5% 18.5% In accord
method 2.66 2.66 2.66
Venture
153
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Capital
Company
Limited
Guangzh
ou
Zhujiang
Asset Cost 10,000,00 10,000,00 10,000,00 3,298,904
15.38% 15.38% In accord
Managem method 0.00 0.00 0.00 .81
ent
Company
Limited
Shenzhen
Zhonghao Cost 5,850,000 5,850,000 5,850,000 Less than Less than 5,850,000
In accord
(Group) method .00 .00 .00 5% 5% .00
Ltd.
Chengdu
Hongbo Cost 6,000,000 6,000,000 6,000,000
6.94% 6.94% In accord
Industrial method .00 .00 .00
Co., Ltd.
Xiamen
Cost 208,574,2 292,574,1 292,574,1
Bank Co., 7.99% 7.99% In accord
method 17.00 33.00 33.00
Ltd.
China
Guangfa Cost 500,000.0 500,000.0 500,000.0 Less than Less than
In accord
Bank Co., method 0 0 0 5% 5%
Ltd.
Foshan
Fochen
Highway Cost 20,757,60 9,175,627 9,175,627
7.66% 7.66% In accord
Develop method 0.00 .38 .38
ment Co.,
Ltd.
Hefei
Guoxuan
Hi-Tech Cost 160,000,0 160,000,0 160,000,0
14.9% 14.9% In accord
Power method 00.00 00.00 00.00
Energy
AG
856,677,6 894,519,3 2,689,226 897,208,5 14,342,36
Total -- -- -- --
99.66 36.76 .20 62.96 7.58
154
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
4. Revenue and Cost of Sales
(1) Revenue, Cost of Sales
Unit: RMB yuan
Item Reporting period Same period of last year
Main business revenue 1,174,388,755.76 1,045,092,362.29
Other business revenue 49,004,949.56 6,923,399.43
Total 1,223,393,705.32 1,052,015,761.72
Cost of sales 960,725,666.05 795,594,113.34
(2) Main business (Classified by industry)
Unit: RMB yuan
Reporting period Same period of last year
Industry
Revenue of sales Cots of sales Revenue of sales Cots of sales
Lighting components and
1,174,388,755.76 929,420,937.18 1,045,092,362.29 791,274,939.98
lamps
Total 1,174,388,755.76 929,420,937.18 1,045,092,362.29 791,274,939.98
(3) Main business (Classified by product)
Unit: RMB yuan
Reporting period Same period of last year
Product
Revenue of sales Cots of sales Revenue of sales Cots of sales
Lighting components and
1,174,388,755.76 929,420,937.18 1,045,092,362.29 791,274,939.98
lamps
Total 1,174,388,755.76 929,420,937.18 1,045,092,362.29 791,274,939.98
(4) Main business (Classified by area)
Unit: RMB yuan
Reporting period Same period of last year
Area
Revenue of sales Cots of sales Revenue of sales Cots of sales
Domestic 846,565,487.63 690,061,303.46 729,621,235.29 562,762,633.08
Overseas 327,823,268.13 239,359,633.72 315,471,127.00 228,512,306.90
Total 1,174,388,755.76 929,420,937.18 1,045,092,362.29 791,274,939.98
(5) Revenue of sales from the top five customers
Unit: RMB yuan
Customers Total revenue of sales Proportion of total
155
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
revenue of sales (%)
Customer 1 36,306,125.75 2.97%
Customer 2 28,636,251.38 2.34%
Customer 3 23,644,387.62 1.93%
Customer 4 23,298,724.88 1.9%
Customer 5 19,978,405.61 1.63%
Total 131,863,895.24 10.77%
5. Investment income
(1) List of investment income
Unit: RMB yuan
Item Reporting period Same period of last year
Long-term equity investment income accounted by cost
14,973,126.22
method
Long-term equity investment income accounted by equity
-2,310,773.80 -1,218,791.19
method
Investment income arising from disposal of long-term equity
-1,379,272.51
investments
Investment income received from holding of
1,365,712.54 3,131,720.14
available-for-sale financial assets
Total -2,324,333.77 16,886,055.17
(2) Long-term equity investment income accounted by cost method
Unit: RMB yuan
Same period of last
Name of investee Reporting period Reason for increase/decrease YoY
year
No dividends distributed in the
Xiamen Bank Co., Ltd. 0.00 14,571,414.00
reporting period
Foshan Chansheng Electronic Ballast Co., No dividends distributed in the
0.00 401,712.22
Ltd. reporting period
Total 0.00 14,973,126.22 --
(3) Long-term equity investment income accounted by equity method
Unit: RMB yuan
Same period of last
Name of investee Reporting period Reason for increase/decrease YoY
year
Qinghai FSL Lithium Energy Exploitation
-1,957,819.93 124,436.84 Losses in this period
Co., Ltd.
156
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Guangdong Fozhao Guoxuan Power Energy
-352,953.87 -1,343,228.03 Losses decreased in this period
Co., Ltd.
Total -2,310,773.80 -1,218,791.19 --
6. Supplemental information of Cash Flow Statement
Unit: RMB yuan
Supplemental information Reporting period Same period of last year
1. Reconciliation of net profit to net cash flows generated from
-- --
operations：
Net profit 144,315,684.79 133,110,485.63
Add: Provision for assets impairments 16,165,237.79 902,614.65
Depreciation of fixed assets, oil and gas assets and productive
37,192,578.90 41,059,107.81
biological assets
Amortization of intangible assets 1,690,549.45 2,058,447.92
Losses/gains on disposal of property, intangible asset and other
-16,786,499.21 119,256.76
long-term assets (gains: negative)
Losses/gains on scrapped of fixed assets (gains: negative) 908,276.06
Losses/gains from variation of fair value (gains: negative) 69,701.45 -64,722.78
Financial cost (income: negative) 2,050,576.88 237,353.63
Investment loss (gains: negative) 2,324,333.77 -16,886,055.17
Decrease in deferred tax assets (increase: negative) 4,041,585.41 556,174.33
Decrease in inventory (increase: negative) -65,715,124.75 12,014,019.79
Decrease in accounts receivable from operating activities (increase:
-260,165,830.11 -20,997,983.18
negative)
Increase in accounts payable from operating activities (decrease:
129,586,264.73 51,497,089.36
negative)
Net cash flows generated from operating activities -4,322,664.84 203,605,788.75
2. Significant investing and financing activities without
-- --
involvement of cash receipts and payments
3. Change of cash and cash equivalent: -- --
Closing balance of cash 429,905,060.78 621,184,567.42
Less: opening balance of cash 699,511,754.78 412,626,723.50
Plus: closing balance of cash equivalent 0.00
The net increase in cash and cash equivalents -269,606,694.00 208,557,843.92
7. Information of assets and liabilities recognized by evaluation value from the counter purchase
Inapplicable
157
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(XVI) Supplemental information
1. List of non-recurring gains and losses in the period
Unit: RMB yuan
Item Amount Total
Loss and gains on disposal of non-current assets (Including
13,187,805.39
write-off part of the provision for asset impairment)
Tax rebates and cuts of ultra vires approval or without formal
0.00
approval
Governmental subsidy included in the current profits and losses(is
closely related with the business event, except for the
302,499.98
governmental subsidy that according to the national unity
standard quota or the quantitative regal assets)
Tax for the possession of funds from the non-financial business
654,987.04
Included in the current losses and gains
The quota of the Company receives from the subsidiaries, joint
ventures and cooperative enterprises of the costs of investment is
0.00
less than that of the gains produced from the investment which
enjoys net assets of fair value that recognized by the investee.
Exchange gains and losses of non-monetary assets 0.00
Gains and losses of committing others of investment or managing
0.00
assets
Withdrawing impairment of assets owning of force majeure
0.00
factors, including suffer from natural disasters
Gains and losses of debt restructuring 0.00
Enterprise restructuring charges, for example, staffing costs of
0.00
integration
Gains and losses produced when exchanging prices
0.00
unconscionable at the fair that exceed the fair value
The current net profits and losses produced when the subsidiaries
combine under the same control from the beginning to the 0.00
combining date
Gains and losses produced from the contingency which have
nothing to do with the Company‘s normal business operatio 0.00
ns
In addition to the valid hedging activity associated with the
normal operation of the Company, the changes in fair value
through gains or losses which arising from the holding trading 1,296,011.09
financial assets and the trading financial liabilities as well as the
investment income that earning from the disposal of trading
158
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
financial assets, trading financial liabilities and available-for-sale
financial assets
The reversal of impairment of receivables of the individual
0.00
impairment test
Gains and losses from the external entrusted loans 0.00
Gains and losses for changes in fair value of investment property
resulting from the subsequent measure through the fair value 0.00
model
The impact of a one-time adjustment of current gains and losses
according to the laws and regulations of tax, accounting and 0.00
others on current gains and losses
Trustee fee income earning from the entrusted management 0.00
Income and expenses of the other operation except for the
-8,068,874.34
mentioned above
The other items of gains and losses conforming the definition of
2.84
non-recurring gains and losses
Less：the effect of income tax 988,964.58
the effect of minority interest (after tax) 0.00
Total 6,383,467.42 --
The Company, who defines the gains and losses as the non-recurring items according to the definition outlined in
the "Public Company's Information Disclosure Explanatory Notice No. 1 – Extraordinary Items Gains and
Losses" and as the recurrent gains and losses which are listed in the "Public Company's Information Disclosure
Explanatory Notice No. 1 – Extraordinary Items Gains and Losses" as non-recurring gains and losses, should
explain the reason.
□ Applicable √ Inapplicable
2. Accounting data differences according to the domestic and foreign accounting standards
(1) Different situations of the net profits and net assets in the financial disclosure reports in accordance wit
h the international accounting standards and Chinese accounting standards at the same time
Unit: RMB yuan
Net profits belongs to the shareholders of the listed Net assets belongs to the shareholders of the
companies listed companies
Current period amount Last period amount Closing balance Opening balance
According to Chinese
153,047,291.37 134,522,943.15 2,795,996,703.55 2,950,106,976.17
accounting standards
159
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Items and amounts adjusted in accordance with international accounting standards
According to the internation
153,047,291.37 134,522,943.15 2,795,996,703.55 2,950,106,976.17
al accounting standards
(2) Different situations of the net profits and net assets in the financial disclosure reports in accordance
with the international accounting standards and Chinese accounting standards at the same time
Unit: RMB yuan
Net profits belongs to the shareholders of the listed Net assets belongs to the shareholders of the
companies listed companies
Current period amount Last period amount Closing balance Opening balance
According to Chinese
153,047,291.37 134,522,943.15 2,795,996,703.55 2,950,106,976.17
accounting standards
Items and amounts adjusted in accordance with foreign accounting standards
According to the foreign
153,047,291.37 134,522,943.15 2,795,996,703.55 2,950,106,976.17
accounting standards
（3）Notes of the reasons of the differences between the accounting data according to the domestic and
foreign accounting standards
Naught
3. Return on equity and earnings per share
Unit: RMB yuan
The weighted average ROE EPS
Profit in the reporting period
(%) Basic EPS Diluted EPS
Net profit attributable to the Company's
5.63% 0.16 0.16
common stock shareholders
Net profit attributable to shareholders of the
Company's common stock after deducting 5.40% 0.15 0.15
non-recurring gains and losses
4. Particulars on the abnormal conditions of main items in the financial statements of the Company and
relevant reasons
Item Closing balance Opening balance Change rate Reason
Accounts Mainly due to the loans receivables
550,624,462.21 334,006,892.19 64.85%
receivable increased.
Prepayments 83,522,308.86 12,383,426.98 574.47% Mainly due to the advance payment
160
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
for materials increased.
Other current Mainly due to the deductible input tax
16,477,687.08 2,935,179.47 461.39%
assets increased.
Accounts paya Mainly due to the advance payment for
461,746,849.65 246,652,513.45 87.21%
ble materials increased.
Advance Mainly due to the loans receivables
61,854,798.34 19,632,316.50 215.07%
Receipts increased.
Mainly due to the amount of
Business tax a Sales increased and the accordingly
13,697,631.32 10,426,957.03 31.37%
nd surcharges increase of the provision of taxes and
fees.
Financial Mainly due to the exchange losses
-3,963,817.89 -7,159,594.18 44.64%
expenses increased.
Assets
Mainly due to the amount of provision
Impairment 17,853,921.20 1,158,138.87 1441.60%
for bad debts increased in this period.
losses
Mainly due to the dividends received
Investment
-945,061.26 16,484,342.95 -105.73% decreased when compared to the
income
previous period.
Mainly due to the confirmed
Non-operating
71,680,160.17 883,683.34 8011.52% government energy subsidies
income
increased in this period.
Non-business e Mainly due to the foreign donations
10,700,438.83 2,481,216.29 331.26%
xpenditure increased.
Mainly due to the profits increased in
Income tax
39,614,342.25 25,616,659.61 54.64% this period, and the accordingly
expenses
increased of the meter tax.
Net cash flow
Cash paid for purchase of goods and
generated from
11,712,252.61 234,485,514.83 -95.01% acceptance of labor service increased
operating
in the reporting period.
activities
Net cash flow
generated from Mainly due to the cash received from
25,328,242.59 879,254.59 2780.65%
invest mental the return on investment increased.
activities
Net cash flow
Mainly due to the dividend cash bonus
generated from
-284,036,742.40 -26,780.81 -1060498.03% in this period and the ones that
financing
haven‘t divided in the last period.
activities
161
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
IX. Documents for Reference
Investors and the relevant departments could refer to the following information in
secretary office in the board office building:
1．Financial statements signed and sealed by legal representative, principal of
accounting work, and manager of finance department;
2. Originals of all documents and announcements of the Company ever
disclosed on CSRC designated disclosure media in the reporting period.
3. Text of the 2013 Semi-annual Report with the signature of the Chairman of
the Board of Directors.
FOSHAN ELECTRICAL AND LIGHTING CO., LTD.
The Board of Directors
27 Aug. 2013
162
2013 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
163