Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
Foshan Electrical and Lighting Co., Ltd.
Report for the First Quarter of 2014
April 2014
1
Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
Section I. Important Reminders
The Board of Directors, the Supervisory Committee, directors, supervisors and senior management
staff of Foshan Electrical and Lighting Co., Ltd. (hereinafter referred to as “the Company”) warrant
that the information carried in 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 have attended in person the board session for reviewing this report except the
following:
Name Position Reason for not attending the session in person Name of the proxy
Xue yizhong Independent director ON business Liu zhenping
Ye zaiyou Director ON business Liu xingming
Pan Jie, company principal and 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.
2
Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
Section II. Financial Highlights & Change of Shareholders
I. Main 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
Jan.-Mar. 2014 Jan.-Mar. 2013 +/- (%)
Operating revenues (RMB Yuan) 700,112,630.46 545,647,478.43 28.31%
Net profit attributable to shareholders of
71,352,349.51 67,284,479.26 6.05%
the Company (RMB Yuan)
Net profit attributable to shareholders of
the Company after extraordinary gains and 70,585,391.84 65,924,831.88 7.07%
losses (RMB Yuan)
Net cash flows from operating activities
82,012,774.68 53,546,284.40 53.16%
(RMB Yuan)
Basic EPS (RMB Yuan/share) 0.07 0.07 0%
Diluted EPS (RMB Yuan/share) 0.07 0.07 0%
Weighted average ROE (%) 2.44% 2.25% 0.19%
31 Mar. 2014 31 Mar. 2013 +/- (%)
Total assets (RMB Yuan) 3,547,194,729.94 3,373,781,552.85 5.14%
Net assets attributable to shareholders of
2,958,628,457.56 2,890,581,921.74 2.35%
the Company (RMB Yuan)
Items and amounts of extraordinary gains and losses
√ Applicable □ Inapplicable
Unit: RMB Yuan
Item 1 Jan. 2014-31 Mar. 2014 Explanation
Gains/losses on the disposal of non-current assets (including the
1,504.00
offset part of the asset impairment provisions)
Government grants recognized in the current period, except for
those acquired in the ordinary course of business or granted at
209,999.92
certain quotas or amounts according to the government’s unified
standards
Gains and losses on change in fair value from tradable financial
assets and tradable financial liabilities, as well as investment
99,573.50
income from disposal of tradable financial assets and tradable
financial liabilities and financial assets available for sales except
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Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
for effective hedging related with normal businesses of the
Company
Non-operating income and expense other than the above 596,603.86
Less: Income tax effects 140,723.61
Total 766,957.67 --
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
II. Total number of shareholders at the period-end and shareholdings of top 10 shareholders
Unit: share
Total number of shareholders at the
117,395
period-end
Shareholdings of top 10 shareholders
Number of Pledged or frozen shares
Nature of Shareholding Number of
Name of shareholder restricted shares Number of
shareholder percentage (%) shares held Status of shares
held shares
OSRAM Holding Foreign
13.47% 131,815,685 131,815,685
Company Limited corporation
Prosperity Lamps & Foreign
10.5% 102,751,648
Components Limited corporation
China Construction
Bank—Fortune
Domestic
SGAM Industrial
non-state-owned 1.99% 19,453,761
Selected Stock
corporation
Securities
Investment Fund
Essence
International Foreign
1.28% 12,522,190
Securities (Hong corporation
Kong) Co., Ltd.
China Construction Domestic
Bank—China non-state-owned 1.12% 10,985,658
Advantage Growth corporation
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Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
Stock Securities
Investment Fund
Bank of
Communications—
Domestic
ABC-CA Industry
non-state-owned 1.07% 10,485,821
Growth Stock
corporation
Securities
Investment Fund
Merrill Lynch Foreign
1.06% 10,367,208
International corporation
ICBC—CCB
Domestic
Optimal Allocation
non-state-owned 1.04% 10,212,563
of Hybrid Securities
corporation
Investment Fund
East Asia Securities Foreign
0.97% 9,527,080
Company Limited corporation
Bank of
China—Invesco
Domestic
Great Wall Dingyi
non-state-owned 0.91% 8,942,706
Stock Open-ended
corporation
Securities
Investment Fund
Shareholdings of top 10 non-restricted shareholders
Variety of shares
Name of shareholder Number of non-restricted shares held
Variety Number
Prosperity Lamps & Components RMB ordinary
102,751,648 102,751,648
Limited shares
China Construction Bank—Fortune
RMB ordinary
SGAM Industrial Selected Stock 19,453,761 19,453,761
shares
Securities Investment Fund
Domestically
Essence International Securities (Hong
12,522,190 listed foreign 12,522,190
Kong) Co., Ltd.
shares
China Construction Bank—China
RMB ordinary
Advantage Growth Stock Securities 10,985,658 10,985,658
shares
Investment Fund
Bank of Communications—ABC-CA
RMB ordinary
Industry Growth Stock Securities 10,485,821 10,485,821
shares
Investment Fund
Merrill Lynch International 10,367,208 Domestically 10,367,208
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Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
listed foreign
shares
ICBC—CCB Optimal Allocation of RMB ordinary
10,212,563 10,212,563
Hybrid Securities Investment Fund shares
Domestically
East Asia Securities Company Limited 9,527,080 listed foreign 9,527,080
shares
Bank of China—Invesco Great Wall
RMB ordinary
Dingyi Stock Open-ended Securities 8,942,706 8,942,706
shares
Investment Fund
Agricultural Bank of China—Bank of
RMB ordinary
Communications Schroder Selected 8,415,639 8,415,639
shares
Stock Securities Investment Fund
It is unknown whether the top 10 shareholders and the top 10 non-restricted shareholders
Explanation on associated relationship
are related parties or whether they belong to parties acting in concert as defined in the
or persons acting in concert among the
Administrative Measures on Information Disclosure of Changes in Shareholding of Listed
above-mentioned shareholders
Companies.
Top 10 shareholders taking part in
margin financing and securities lending Naught
(if any)
Did any shareholder of the Company carry out an agreed buy-back in the reporting period?
□ Yes √ No
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Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
Section III. Significant Events
I. Significant changes of the major accounting statement items and financial indicators for the
reporting period, as well as the reasons for these changes
1. Significant changes of the balance sheet items, as well as the reasons for these changes
(1) Prepayments at the end of the reporting period increased 272.69% from the opening amount mainly because
the prepayments for materials increased.
(2) Interest receivable at the end of the reporting period increased 119.21% from the opening amount mainly
because the interest generated by the term savings increased.
(3) Accounts payable at the end of the reporting period increased 40.67% from the opening amount mainly
because the payables for materials increased.
(4) Taxes and fares payable at the end of the reporting period increased 122.99% from the opening amount mainly
because the unpaid taxes increased.
2. Significant changes of the income statement items, as well as the reasons for these changes
(1) Selling expenses in the reporting period increased 70.89% from the same period of last year mainly because
the marketing expenses increased.
(2) Administrative expenses in the reporting period increased 41.51% from the same period of last year mainly
because the operating expenses increased.
(3) Financial expenses in the reporting period increased 130.20% from the same period of last year mainly
because the interest income from savings increased.
(4) Asset impairment loss in the reporting period decreased 121.65% from the same period of last year mainly
because the bad-debt loss provisions decreased.
(5) Gain on fair value changes in the reporting period increased 385.71% from the same period of last year mainly
because the fair value of the funds that the Company invested in changed.
(6) Investment gain in the reporting period decreased 133.80% from the same period of last year mainly because
the gain on investees was measured adopting the equity method.
(7) Non-operating income in the reporting period decreased 98.09% from the same period of last year mainly
because the energy-saving subsidy decreased.
(8) Non-operating expenses in the reporting period decreased 98.98% from the same period of last year mainly
because in the same period of last year, the Company received administrative punishments.
3. Significant changes of the cash flow statement items, as well as the reasons for these changes
(1) Net cash flows from operating activities in the reporting period increased 53.16% from the same period of last
year mainly because the cash received as tax and fare refunds increased and the cash paid in other operating
activities decreased.
(2) Net cash flows from financing activities in the reporting period decreased 151.18% from the same period of
last year mainly because in the same period of last year, the cash paid in previous investing activities was
withdrawn.
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Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
II. Progress of significant events and analysis & explanations on their influence and solutions
Website index for the disclosed
Overview of the significant event Date of disclosure
relevant interim report
In Mar. 2013, CSRC Guangdong administered an administrative
punishment on the illegal information disclosure of the Company.
672 plaintiffs separately sued the Company to Guangzhou
8 Jan. 2014 http://www.cninfo.com.cn
Intermediate People’s Court for false securities statement,
demanding civil compensations from the Company for its illegal
information disclosure.
In Mar. 2013, CSRC Guangdong administered an administrative
punishment on the illegal information disclosure of the Company.
116 plaintiffs separately sued the Company to Guangzhou
15 Mar. 2014 http://www.cninfo.com.cn
Intermediate People’s Court for false securities statement,
demanding civil compensations from the Company for its illegal
information disclosure.
III. Commitments made by the Company or any shareholder with a shareholding over 5% in
the reporting period or such commitments made in previous period and carried down into the
reporting period
Inapplicable
IV. Predict the operating results of Jan.-Jun. 2014
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 on the reasons:
□ Applicable √ Inapplicable
V. Securities investments
Sharehold Sharehold Gain/loss
Initial Number Number Closing
ing ing for
investmen of shares of shares book
Variety of Code of Name of percentag percentag reporting Accounti Source of
t cost held at held at value
securities securities securities e at e at period ng title securities
(RMB period-be period-en (RMB
period-be period-en (RMB
Yuan) gin d Yuan)
gin d Yuan)
Trading
5,000,000 5,000,000 5,000,000 4,002,771
Fund BC0002 financial
.00 .00 .00 .40
assets
Total 5,000,000 5,000,000 -- 5,000,000 -- 4,002,771 0.00 -- --
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Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
.00 .00 .00 .40
Disclosure date of the board
announcement on securities 25 Nov. 2010
investment approval
Disclosure date of the general
meeting announcement on
securities investment approval
(if any)
Shareholdings in other listed companies
√ Applicable □ Inapplicable
As at 31 Mar. 2014, the Company held 23,546,768 shares in Everbright Bank, of which the market value
amounted to RMB 58,395,984.64.
VI. Investments in derivatives
Naught
VII. Researches, visits and interviews received in the reporting period
Main discussion and
Place of
Time of reception Way of reception Visitor type Visitor materials provided by the
reception
Company
GF Securities, China
Southern Asset
Management, CITIC
Securities, GF Fund
Management, Lion Fund Production and operation
3 Jan. 2014 The Company Field research Institution
Management, Beijing of the Company
Longrising Asset
Management, Tianhong
Asset Management, PingAn
Securities
Production and operation
6 Jan. 2014 The Company Field research Institution China AMC
of the Company
Nomura International (Hong
Kong), CIC International
Production and operation
18 Feb. 2014 The Company Field research Institution (Hong Kong), Value
of the Company
Partners, Manulife Asset
Management, BlackRock,
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Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
Allianz Global Investors,
DIAM Asset Management
(Hong Kong),
BOCI-Prudential,
TPG-AXON Capital
Morgan Stanley (Taiwan),
Keywise Capital (Hong Production and operation
12 Mar. 2014 The Company Field research Institution
Kong), Allianz Global of the Company
Investors
10
Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
Section IV. Financial Statements
I. Financial statements
1. Consolidated balance sheet
Prepared by Foshan Electrical and Lighting Co., Ltd.
Unit: RMB Yuan
Item Closing balance Opening balance
Current assets:
Monetary funds 963,691,050.33 897,675,824.22
Settlement reserves
Intra-group lendings
Transactional financial assets 4,002,771.40 3,903,197.90
Notes receivable 179,845,762.36 154,142,432.66
Accounts receivable 436,743,860.20 390,216,735.62
Accounts paid in advance 89,648,764.29 24,054,319.34
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract reserves
Interest receivable 2,858,929.28 1,304,200.33
Dividend receivable
Other accounts receivable 17,524,462.01 24,145,083.88
Financial assets purchased under
agreements to resell
Inventories 510,006,763.91 516,804,156.44
Non-current assets due within 1 year
Other current assets 7,574,650.98 9,408,829.51
Total current assets 2,211,897,014.76 2,021,654,779.90
Non-current assets:
Loans by mandate and advances granted
Available-for-sale financial assets 58,395,984.64 62,634,402.88
Held-to-maturity investments
Long-term accounts receivable
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Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
Long-term equity investment 491,452,321.28 492,153,947.39
Investing property
Fixed assets 465,959,782.47 472,740,489.84
Construction in progress 75,984,909.89 75,044,472.56
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 172,280,786.04 173,234,598.73
R&D expense
Goodwill
Long-term deferred expenses
Deferred income tax assets 25,862,652.49 28,924,666.74
Other non-current assets 45,361,278.37 47,394,194.81
Total of non-current assets 1,335,297,715.18 1,352,126,772.95
Total assets 3,547,194,729.94 3,373,781,552.85
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 381,174,120.26 270,968,881.44
Accounts received in advance 43,844,598.65 45,620,298.34
Financial assets sold for repurchase
Handling charges and commissions
payable
Employee’s compensation payable 43,926,443.43 60,636,740.85
Tax payable 43,642,303.64 19,571,121.78
Interest payable
Dividend payable
Other accounts payable 26,754,584.86 35,613,570.14
Reinsurance premiums payable
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Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
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 539,342,050.84 432,410,612.55
Non-current liabilities:
Long-term borrowings
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities 4,255,576.23 4,891,338.97
Other non-current liabilities 10,856,633.98 11,092,550.73
Total non-current liabilities 15,112,210.21 15,983,889.70
Total liabilities 554,454,261.05 448,394,502.25
Owners’ equity (or shareholders’ equity)
Paid-up capital (or share capital) 978,563,745.00 978,563,745.00
Capital reserves 614,288,293.52 617,594,107.21
Less: Treasury stock
Specific reserves
Surplus reserves 622,494,531.96 622,494,531.96
Provisions for general risks
Retained profits 743,281,887.08 671,929,537.57
Foreign exchange difference
Total equity attributable to owners of the
2,958,628,457.56 2,890,581,921.74
Company
Minority interests 34,112,011.33 34,805,128.86
Total owners’ (or shareholders’) equity 2,992,740,468.89 2,925,387,050.60
Total liabilities and owners’ (or
3,547,194,729.94 3,373,781,552.85
shareholders’) equity
Legal representative: Pan Jie Chief of the accounting work: Pan Jie
Chief of the accounting organ: Yin Jianchun
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Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
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 631,025,481.19 581,390,386.39
Transactional financial assets 4,002,771.40 3,903,197.90
Notes receivable 177,363,762.36 153,942,432.66
Accounts receivable 476,687,966.76 428,330,282.09
Accounts paid in advance 79,946,079.66 29,435,327.20
Interest receivable
Dividend receivable
Other accounts receivable 72,970,513.11 71,612,354.13
Inventories 472,239,020.26 472,321,376.79
Non-current assets due within 1 year
Other current assets 1,106,550.43 3,790,803.20
Total current assets 1,915,342,145.17 1,744,726,160.36
Non-current assets:
Available-for-sale financial assets 58,395,984.64 62,634,402.88
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 908,745,419.23 909,743,887.15
Investing property
Fixed assets 366,260,046.57 370,702,024.40
Construction in progress 74,608,875.66 74,051,205.53
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 128,696,127.37 129,859,177.45
R&D expense
Goodwill
Long-term deferred expenses
Deferred income tax assets 23,049,490.10 26,102,706.56
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Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
Other non-current assets 45,324,878.37 47,394,194.81
Total of non-current assets 1,605,080,821.94 1,620,487,598.78
Total assets 3,520,422,967.11 3,365,213,759.14
Current liabilities:
Short-term borrowings
Transactional financial liabilities
Notes payable
Accounts payable 397,225,334.36 321,372,591.12
Accounts received in advance 42,521,357.24 45,547,349.36
Employee’s compensation payable 43,641,479.11 60,356,477.70
Tax payable 34,531,198.30 13,335,938.26
Interest payable
Dividend payable
Other accounts payable 75,033,015.76 60,963,050.92
Non-current liabilities due within 1
year
Other current liabilities
Total current liabilities 592,952,384.77 501,575,407.36
Non-current liabilities:
Long-term borrowings
Bonds payable
Long-term payables
Specific payables
Estimated liabilities
Deferred income tax liabilities 4,255,576.23 4,891,338.97
Other non-current liabilities 9,965,383.95 10,162,550.77
Total non-current liabilities 14,220,960.18 15,053,889.74
Total liabilities 607,173,344.95 516,629,297.10
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share capital) 978,563,745.00 978,563,745.00
Capital reserves 611,086,521.03 614,689,176.53
Less: Treasury stock
Specific reserves
Surplus reserves 622,494,531.96 622,494,531.96
15
Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
Provisions for general risks
Retained profits 701,104,824.17 632,837,008.55
Foreign exchange difference
Total owners’ (or shareholders’) equity 2,913,249,622.16 2,848,584,462.04
Total liabilities and owners’ (or
3,520,422,967.11 3,365,213,759.14
shareholders’) equity
Legal representative: Pan Jie Chief of the accounting work: Pan Jie
Chief of the accounting organ: Yin Jianchun
3. Consolidated income statement
Prepared by Foshan Electrical and Lighting Co., Ltd.
Unit: RMB Yuan
Item Jan.-Mar. 2014 Jan.-Mar. 2013
I. Operating revenues 700,112,630.46 545,647,478.43
Including: Sales income 700,112,630.46 545,647,478.43
Interest income
Premium income
Handling charge and
commission income
II. Total operating cost 611,264,543.97 503,965,806.89
Including: Cost of sales 527,644,510.82 439,134,675.82
Interest expenses
Handling charge and
commission expenses
Surrenders
Net claims paid
Net amount withdrawn for the
insurance contract reserve
Expenditure on policy dividends
Reinsurance premium
Taxes and associate charges 7,873,777.79 6,429,699.63
Selling and distribution expenses 34,383,380.15 20,120,169.57
Administrative expenses 46,428,642.44 32,810,246.20
Financial expenses -3,547,566.46 -1,541,106.77
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Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
Asset impairment loss -1,518,200.77 7,012,122.44
Add: Gain/(loss) from change in fair
99,573.50 -34,850.73
value (“-” means loss)
Gain/(loss) from investment (“-”
-998,467.92 -427,069.43
means loss)
Including: share of profits in associates
and joint ventures
Foreign exchange gains (“-” means
loss)
III. Business profit (“-” means loss) 87,949,192.07 41,219,751.38
Add: non-operating income 815,210.60 42,626,301.13
Less: non-operating expense 7,102.82 693,195.09
Including: loss from
non-current asset disposal
IV. Total profit (“-” means loss) 88,757,299.85 83,152,857.42
Less: Income tax expense 18,098,067.87 15,334,180.31
V. Net profit (“-” means loss) 70,659,231.98 67,818,677.11
Including: Net profit achieved by
combined parties before the
combinations
Attributable to owners of the
71,352,349.51 67,284,479.26
Company
Minority shareholders’ income -693,117.53 534,197.85
VI. Earnings per share -- --
(I) Basic earnings per share 0.07 0.07
(II) Diluted earnings per share 0.07 0.07
Ⅶ. Other comprehensive incomes -3,602,655.50 3,402,507.98
Ⅷ. Total comprehensive incomes 67,056,576.48 71,221,185.09
Attributable to owners of the
67,749,694.01 70,686,987.24
Company
Attributable to minority
-693,117.53 534,197.85
shareholders
Legal representative: Pan Jie Chief of the accounting work: Pan Jie
Chief of the accounting organ: Yin Jianchun
17
Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
4. Income statement of the Company
Prepared by Foshan Electrical and Lighting Co., Ltd.
Unit: RMB Yuan
Item Jan.-Mar. 2014 Jan.-Mar. 2013
I. Operating revenues 710,595,431.74 545,005,125.35
Less: operating costs 552,858,150.93 442,725,855.04
Business taxes and surcharges 6,029,367.32 5,893,459.70
Distribution expenses 33,765,852.39 19,772,931.21
Administrative expenses 36,807,829.79 32,268,333.86
Financial costs -1,751,397.19 145,407.57
Impairment loss -1,576,852.66 7,471,876.24
Add: gain/(loss) from change in fair
99,573.50 -34,850.73
value (“-” means loss)
Gain/(loss) from investment (“-”
-998,467.92 -1,806,341.94
means loss)
Including: income form investment
on associates and joint ventures
II. Business profit (“-” means loss) 83,563,586.74 34,886,069.06
Add: non-business income 769,293.66 42,546,316.52
Less: non-business expense 6,900.09 667,839.47
Including: loss from non-current
asset disposal
III. Total profit (“-” means loss) 84,325,980.31 76,764,546.11
Less: income tax expense 16,058,164.69 14,105,240.19
IV. Net profit (“-” means loss) 68,267,815.62 62,659,305.92
V. Earnings per share -- --
(I) Basic earnings per share
(II) Diluted earnings per share
VI. Other comprehensive income -3,602,655.50 3,402,507.98
VII. Total comprehensive income 64,665,160.12 66,061,813.90
Legal representative: Pan Jie Chief of the accounting work: Pan Jie
Chief of the accounting organ: Yin Jianchun
18
Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
5. Consolidated cash flow statement
Prepared by Foshan Electrical and Lighting Co., Ltd.
Unit: RMB Yuan
Item Jan.-Mar. 2014 Jan.-Mar. 2013
I. Cash flows from operating activities:
Cash received from sale of
644,453,166.51 559,487,109.30
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 17,593,990.28
Other cash received relating to
7,069,766.67 6,142,776.63
operating activities
Subtotal of cash inflows from operating
669,116,923.46 565,629,885.93
activities
Cash paid for goods and services 383,145,988.91 301,054,809.10
Net increase of customer lendings
and advances
Net increase of funds deposited in the
central bank and amount due from
banks
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Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
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 129,761,532.07 99,175,415.42
Various taxes paid 38,024,520.07 42,692,168.52
Other cash payment relating to
36,172,107.73 69,161,208.49
operating activities
Subtotal of cash outflows from
587,104,148.78 512,083,601.53
operating activities
Net cash flows from operating activities 82,012,774.68 53,546,284.40
II. Cash flows from investing activities:
Cash received from withdrawal of
45,210,000.00
investments
Cash received from return on
investments
Net cash received from disposal of
fixed assets, intangible assets and other
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investing activities
Subtotal of cash inflows from
45,210,000.00
investing activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 13,872,864.46 14,887,205.45
assets
Cash paid for investment 1,645,600.00
Net increase of pledged loans
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
investing activities
Subtotal of cash outflows from
15,518,464.46 14,887,205.45
investing activities
Net cash flows from investing activities -15,518,464.46 30,322,794.55
20
Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
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
distribution of dividends or profit
Including: dividends or profit paid
by subsidiaries to minority shareholders
Other cash payments relating to
financing activities
Sub-total of cash outflows from
financing activities
Net cash flows from financing activities
IV. Effect of foreign exchange rate
-479,084.11 -739,940.11
changes on cash and cash equivalents
V. Net increase in cash and cash
66,015,226.11 83,129,138.84
equivalents
Add: Opening balance of cash and
897,675,824.22 985,450,890.74
cash equivalents
VI. Closing balance of cash and cash
963,691,050.33 1,068,580,029.58
equivalents
Legal representative: Pan Jie Chief of the accounting work: Pan Jie
Chief of the accounting organ: Yin Jianchun
21
Report for the First Quarter of 2014 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.-Mar. 2014 Jan.-Mar. 2013
I. Cash flows from operating activities:
Cash received from sale of
639,190,157.42 545,189,875.30
commodities and rendering of service
Tax refunds received 17,593,990.28
Other cash received relating to
6,310,719.11 4,173,976.08
operating activities
Subtotal of cash inflows from operating
663,094,866.81 549,363,851.38
activities
Cash paid for goods and services 481,211,527.40 328,309,213.53
Cash paid to and for employees 62,805,713.62 87,646,430.38
Various taxes paid 20,956,804.44 34,463,156.05
Other cash payment relating to
34,432,441.98 67,769,690.60
operating activities
Subtotal of cash outflows from
599,406,487.44 518,188,490.56
operating activities
Net cash flows from operating activities 63,688,379.37 31,175,360.82
II. Cash flows from investing activities:
Cash received from retraction of
53,830,727.49
investments
Cash received from return on
investments
Net cash received from disposal of
fixed assets, intangible assets and other
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investing activities
Subtotal of cash inflows from
53,830,727.49
investing activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 11,928,600.46 13,267,858.91
assets
22
Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
Cash paid for investment 1,645,600.00
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
investing activities
Subtotal of cash outflows from
13,574,200.46 13,267,858.91
investing activities
Net cash flows from investing activities -13,574,200.46 40,562,868.58
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
activities
Repayment of borrowings
Cash paid for interest expenses and
distribution of dividends or profit
Other cash payments relating to
financing activities
Sub-total of cash outflows from
financing activities
Net cash flows from financing activities
IV. Effect of foreign exchange rate
-479,084.11 -739,940.11
changes on cash and cash equivalents
V. Net increase in cash and cash
49,635,094.80 70,998,289.29
equivalents
Add: Opening balance of cash and
581,390,386.39 699,511,754.78
cash equivalents
VI. Closing balance of cash and cash
631,025,481.19 770,510,044.07
equivalents
Legal representative: Pan Jie Chief of the accounting work: Pan Jie
Chief of the accounting organ: Yin Jianchun
23
Report for the First Quarter of 2014 of Foshan Electrical and Lighting Co., Ltd.
II. Audit report
Is this report audited?
□ Yes √ No
This report is not audited.
Board of Directors
Foshan Electrical and Lighting Co., Ltd.
23 April 2014
24
