2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
FOSHAN ELECTRICAL AND LIGHTING CO., LTD.
2014 Semi-annual Report
August 2014
1
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Section 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 have attended in person the board session for reviewing this report
except the following:
Name Position Reason for not attending the Name of the proxy
session in person
Wu shenpo Director ON business Werner Jrgen Dietrich Hoffmann
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.
Pan Jie, company principal & 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.
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.
This report is prepared in both Chinese and English. Should there be any discrepancy
between the two versions, the Chinese version shall prevail.
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Contents
2014 Semi-annual Report .................................................................................................................. 1
Section I. Important Reminders, Contents & Explanation ............................................................ 2
Section II. Company Profile .............................................................................................................. 5
Section III. Highlights of Accounting Data & Financial Indicators .............................................. 7
Section IV. Report of the Board of Directors ................................................................................... 9
Section V. Significant Events ........................................................................................................... 24
Section VI. Change in Shares & Shareholders .............................................................................. 34
Section VII. Preferred Shares ......................................................................................................... 39
Section VIII. Directors, Supervisors & Senior Management Staff .............................................. 40
Section IX. Financial Report ........................................................................................................... 41
Section X. Documents Available for Reference ........................................................................... 147
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Explanation
Term Refers to Contents
The Company, Company, FSL Refers to Foshan Electrical and Lighting Co., Ltd.
CSRC Refers to China Securities Regulation Commission
SZSE, the Stock Exchange Refers to Shenzhen Stock Exchange
Shareholders’ General Meeting of Foshan Electrical and
Shareholders’ General Meeting Refers to
Lighting Co., Ltd.
Board of Directors of Foshan Electrical and Lighting Co.,
Board of Directors Refers to
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. 2014-30 Jun. 2014
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Section II. Company Profile
I. Basic information of the Company
Stock abbreviation FSZM/YZMB Stock code 000541/200541
Stock exchange listed
Shenzhen Stock Exchange
with
Chinese name of the
佛山电器照明股份有限公司
Company
Abbr. of the Chinese
name of the Company (if 佛山照明
any)
English name of the
FOSHAN ELECTRICAL AND LIGHTING CO., LTD
Company (if any)
Abbr. of the English name
FSL
of the Company (if any)
Legal representative of
Pan Jie
the Company
II. For Contact
Company Secretary Securities Affairs Representative
Name Lin Yihui Huang Yufen
No. 64, Fenjiang North Road, No. 64, Fenjiang North Road,
Contact address Chancheng District, Foshan City, Chancheng District, Foshan City,
Guangdong Province, P.R.China Guangdong 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 2013 Annual Report.
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2014 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 2013 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 2013
Annual Report.
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Section III. Highlights of Accounting Data & Financial Indicators
I. Major accounting data and financial indicators
Does the Company adjust retrospectively or restate accounting data of previous years due to change of any
accounting policy or correction of any accounting error?
□ Yes √ No
Reporting period Same period of last year YoY +/- (%)
Operating revenues (RMB Yuan) 1,543,058,758.03 1,208,260,446.06 27.71%
Net profit attributable to shareholders of
188,959,139.45 153,047,291.37 23.46%
the Company (RMB Yuan)
Net profit attributable to shareholders of
the Company after extraordinary gains and 169,224,226.63 146,663,823.95 15.38%
losses (RMB Yuan)
Net cash flows from operating activities
138,441,766.77 11,712,252.61 1,082.03%
(RMB Yuan)
Basic EPS (RMB Yuan/share) 0.1931 0.1564 23.47%
Diluted EPS (RMB Yuan/share) 0.1931 0.1564 23.47%
Weighted average ROE (%) 6.68% 5.63% 1.05%
As at the end of the
As at the end of last year +/- (%)
reporting period
Total assets (RMB Yuan) 3,673,046,108.98 3,373,781,552.85 8.87%
Net assets attributable to shareholders of
2,920,569,091.65 2,890,581,921.74 1.04%
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
188,959,139.45 153,047,291.37 2,920,569,091.65 2,890,581,921.74
accounting standards
Items and amounts adjusted according to international accounting standards
According to international
188,959,139.45 153,047,291.37 2,920,569,091.65 2,890,581,921.74
accounting standards
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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
188,959,139.45 153,047,291.37 2,920,569,091.65 2,890,581,921.74
accounting standards
Items and amounts adjusted according to overseas accounting standards
According to overseas
188,959,139.45 153,047,291.37 2,920,569,091.65 2,890,581,921.74
accounting standards
3. Explain reasons for the differences between accounting data under domestic and overseas accounting
standards
□ Applicable √ Inapplicable
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 the
-106,385.02
offset part of asset impairment provisions)
Government grants recognized in the current period, except for
those acquired in the ordinary course of business or granted at
323,499.80
certain quotas or amounts according to the country’s unified
standards
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 and tradable
22,326,685.31
financial liabilities and financial assets available for sales except
for effective hedging related with normal businesses of the
Company
Other non-operation income and expenses other than the above 682,094.80
Less: Income tax effects 3,490,982.07
Total 19,734,912.82 --
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
No such cases during the reporting period.
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Section IV. Report of the Board of Directors
I. Overview
In the reporting period, the economic environment at home and abroad was complex and
changeable, and the overseas markets were in a long and vulnerable recovery. The domestic
economy slowed down “structurally” and risks were building up in the real estate and financial
sectors. And the lighting industry where we belonged saw a structural over-capacity, fiercer market
competition, continuously falling product prices and acclerated enterprise wash-out and integration.
The industry was reaching a break point. In face of the ups and downs in the industry, with “seize
opportunities, promote development, attach importantce to management and increase profits” as the
guidance, the Board of Directors and the managemnt team diligently carried out all the work,
enhanced budgetary management and operating plan execution management, and input more efforts
in expanding domestic and overseas markets, which ensured a stable growth of the main business.
For the reporting period, the Company achieved operating revenues of RMB 1543.0588 million, up
27.71% over the same period of last year, of which the revenue from domestic sale reached RMB
1052.2441 million, up 19.51% year on year, and that from export reached RMB 490.8147 million,
up 49.72% year on year; total profits of RMB 228.9185 million, up 18.86% over the same period of
last year; and net profit attributable to shareholders of the Company of RMB 188.9591 million,
representing a year-on-year growth of 23.46%.
II. Main business analysis
YoY change of major financial data:
Unit: RMB Yuan
Reporting period Same period of last year YoY +/-% Main reasons for change
Operating revenues 1,543,058,758.03 1,208,260,446.06 27.71%
Operating costs 1,156,217,280.15 925,675,209.12 24.91%
Selling expenses 62,967,912.93 44,431,240.08 41.72% Sale increased.
Operating costs
Administrative expenses 104,495,339.45 77,932,401.53 34.08%
increased.
Interest of term deposits
Financial expenses -5,733,347.63 -3,963,817.89 -44.64%
increased.
Income tax expenses 41,689,863.95 39,614,342.25 5.24%
R&D inputs 34,671,618.47 33,914,703.00 2.23%
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Cash received from
Net cash flows from
138,441,766.77 11,712,252.61 1,082.03% selling goods and
operating activities
services increased.
Cash paid for
Net cash flows from
-21,344,331.62 25,328,242.59 -184.27% external investment
investing activities
increased.
Cash paid as
Net cash flows from
-151,583,685.10 -284,036,742.40 -46.63% dividends and profit
financing activities
shares decreased.
Cash received from
Net increase in cash selling goods
-36,260,109.78 -249,046,824.08 -85.44%
and cash equivalents increased and
dividends decreased.
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 2014, 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.
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 1,527,520,198.14 1,144,349,961.56 25.08% 29.20% 25.87% 1.97%
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
and lamps
Classified by product:
Lighting fixtures
1,527,520,198.14 1,144,349,961.56 25.08% 29.20% 25.87% 1.97%
and lamps
Among:
traditional 1,106,737,704.75 809,263,104.37 26.88% 1.82% -2.12% 2.95%
lighting products
LED lighting
420,782,493.39 335,086,857.19 20.37% 341.10% 306.99% 6.68%
products
Classified by region:
Domestic 1,036,705,528.94 815,542,735.07 21.33% 21.32% 21.76% -0.29%
Overseas 490,814,669.20 328,807,226.49 33.01% 49.72% 37.37% 6.02%
IV. Core competitiveness analysis
In the reporting period, the Company continued to give play to its leading competitive edges in
brand recognition, channel building, scale & cost, technological R&D, etc. Meanwhile, it input
more efforts in R&D and proactively expanded domestic and overseas markets. 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
√ Applicable □ Inapplicable
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
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
38.00%
Exploitation Co., Ltd. salt lake brine resource.
R&D, production and sale of lithium ion
batteries and materials, solar, wind and
other renewable energy application
Hefei Guoxuan High-tech Power Energy
products, equipment and systems, 14.84%
Co., Ltd.
energy-saving optoelectronic and
electronic products, equipment and
systems, and lithium power emergency
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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 Pearl River 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 5.00%
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,
mechanic processing, vehicle repair,
Chengdu Hongbo Industrial Co., Ltd. consulting service, sale of goods 6.94%
(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
materials; processing and compensation
trade
Xiamen Bank Banking services 7.99%
China Guangfa Bank Co., Ltd. Banking services Less than 5.00%
Foshan Fochen Road Development Building and operation of the Fochen
7.66%
Company Limited (Foshan Chencun) Road
（2）Equity-holdings in financial enterprises
√ Applicable □ Inapplicable
Gain/loss
Initial Opening Opening Closing Closing Closing
in the
Enterprise Enterprise investment equity-hol equity-hol equity-hol equity-hol book value Accountin Equity
reporting
name variety cost (RMB dings ding ratio dings ding ratio (RMB g title source
period
Yuan) (share) (%) (share) (%) Yuan)
(RMB
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Yuan)
Available-f
China
Commerci 30,828,816 59,808,790 or-sale Additional
Everbright 23,546,768 0.06% 23,546,768 0.06% 0.00
al bank .00 .72 financial issue
Bank
assets
Long-term
Xiamen Commerci 292,574,13 109,714,17 109,714,17 292,574,13 21,942,835 Additional
7.99% 7.99% equity
Bank al bank 3.00 6 6 3.00 .20 issue
investment
China Long-term
Commerci Less than Less than Additional
Guangfa 500,000.00 229,792 229,792 500,000.00 0.00 equity
al bank 5% 5% issue
Bank investment
323,902,94 133,490,73 133,490,73 352,882,92 21,942,835
Total -- -- -- --
9.00 6 6 3.72 .20
（3）Securities investments
√ Applicable □ Inapplicable
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 stock
(RMB period-be period-en (RMB
period-be period-en (RMB
Yuan) gin d Yuan)
gin d Yuan)
956,522.6 970,012.0 交易性金
Stock 000027 SZNY 172,600 172,600 0.00
4 0 融资产
交易性金
Stock 300385 XLHJ 7,365.00 500 500 12,830.00 0.00
融资产
交易性金
Stock 603328 YDDZ 15,310.00 1,000 1,000 15,310.00 0.00
融资产
Founder
5,000,000 -997,145. 交易性金
Fund BC0002 Jinquanyo 5,000,000 0 0.00
.00 30 融资产
u No. 2
6,544,000 交易性金
Other 205001 1 Day 0.00 1,754.96
.00 融资产
33,249,00 交易性金
Other 205007 7 Days 0.00 21,948.24
0.00 融资产
39,794,00 113,419.5 交易性金
Other 205008 14 Days 0.00
0.00 0 融资产
42,300,42 交易性金
Other 204001 GC001 0.00 9,859.92
3.00 融资产
5,100,102 交易性金
Other 204002 GC002 0.00 1,108.84
.00 融资产
4,100,123 交易性金
Other 204003 GC003 0.00 941.62
.00 融资产
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
30,401,21 交易性金
Other 204004 GC004 0.00 12,207.34
6.00 融资产
40,452,02 交易性金
Other 204007 GC007 0.00 67,409.34
3.00 融资产
42,004,20 交易性金
Other 204014 GC014 0.00 53,701.66
0.00 融资产
Other securities investments
-- 0.00 0.00 -- --
held at the period-end
249,924,2 998,152.0 -714,793.
Total 5,174,100 174,100 -- -- --
84.64 0 88
Disclosure date of the board
announcement on approval of 23 Jan. 2014
the securities investment
Disclosure date of the general
meeting announcement on
approval of the securities
investment
Shareholdings in other listed companies:
□ Applicable √ Inapplicable
The Company did not have any shareholding in any other listed company in the reporting period.
2. Wealth management entrustment, derivative investments and entrustment loans
（1）Wealth management entrustment
□ Applicable √ Inapplicable
The Company did not carry out any wealth management entrustment in the reporting period.
（2）Derivative investments
□ Applicable √ Inapplicable
The Company did not carry out any derivative investment in the reporting period.
（3）Entrustment loans
□ Applicable √ Inapplicable
There were no entrustment loans in the reporting period.
3. Analysis to main subsidiaries and stock-participating companies
√ Applicable □ Inapplicable
Main subsidiaries and stock-participating companies:
Unit: RMB Yuan
Company Company Industry Main Registered Total assets Net assets Operating Operating Net profit
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
name variety products/ser capital revenues profit
vices
Production
and
operation of
Foshan
electronic
Chansheng
Manufactur ballasts, 34,527,976. 10,052,280. 77,334,376. 3,756,478
Electronic Subsidiary 1,000,000.0 2,814,994.44
e electronic 66 42 18 .99
Ballast Co., 0
transformer
Ltd.
s and
electronic
igniters
Producer of
lamps,
electric
lighting
Foshan
products
Chanchang
and related
Electric Manufactur 92,062,689. 84,913,163. 46,229,159. -8,539,48
Subsidiary fittings, 72,782,944. -8,539,959.10
Appliances e 68 56 47 9.82
providing 00
(Gaoming)
relevant
Co., Ltd.
installation
and
consulting
services
R&D,
production
and sales of
Foshan lamps,
Taimei household
Manufactur 76,260,752. 20,940,309. 86,036,195. 7,145,682
Times Subsidiary appliances 5,359,257.37
e 500,000.00 97 67 59 .06
Lamps Co., and fittings,
Ltd. and other
electric
lighting
products
R&D and
Foshan sale of
Electrical electric
and Manufactur appliance, 54,400,322. 52,652,784. 1,407,011.0 -469,839.
Subsidiary 50,000,000. -469,839.80
Lighting e lighting and 14 84 3 80
00
Engineering electromech
Co., Ltd. anical
products;
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
design,
constructio
n and
maintenanc
e of lighting
and
electromech
anical
projects;
design,
constructio
n and
technical
service of
intelligent
constructio
n projects;
investment,
design,
consulting
service,
constructio
n, service,
contractual
energy
managemen
t, technical
service and
assessment
of energy
saving
projects;
and
internationa
l trade
Production
Nanjing of
Fozhao energy-savi
Lighting ng lighting
Manufactur 84,052,669. 69,235,411. 33,063,138. -171,871.
Component Subsidiary products, 41,683,200. -96,305.24
e 34 81 23 74
s lamps and 00
Manufacturi lighting
ng Co., Ltd. equipments;
lighting
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
projects;
energy-savi
ng
technology
developmen
t and
production
of relevant
fittings; sale
of
self-produc
ed products
Production
and sale of
equipments
and
products of
electric
light
source; and
sale of
FSL
components
(Xinxiang) Manufactur 52,501,922. 33,919,784. 12,827,692. 793,674.4
Subsidiary of electric 35,418,439. 793,471.71
Lighting e 64 53 51 4
light 76
Co., Ltd.
source,
related
materials,
electrical
materials,
automobile
components
, lamps and
fittings
Financing
lease, lease,
lease
Guangdong consulting
Fozhao and
213,238,28 212,911,32 3,152,441
Financing Subsidiary Finance guaranty, 200,000,00 0.00 2,364,331.10
6.86 7.52 .47
Lease Co., financing 0.00
Ltd. lease
service for
new-energy
automobiles
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
& main
components
,
energy-savi
ng lighting
products &
projects
R&D and
production
of electric
light source
products,
equipment,
fittings,
electrical
materials,
automobile
components
, home
appliances,
socket
FSL
outlets,
Lighting
Manufactur power 60,693,773. 22,389,267. 88,831,728. 6,828,519
Equipment Subsidiary 15,000,000. 4,962,733.09
e switches, 74 70 31 .78
Co., Ltd. 00
fire-protecti
on
products,
ventilation
equipment,
LED
products,
etc.;
domestic
trade,
import and
export of
technology
and goods
Licensed
Suzhou
operations:
Mont Manufactur 52,622,167. 33,592,631. 7,792,353.6 -1,568,27
Subsidiary naught. 23,634,900. -1,568,271.61
Lighting e 02 69 1 1.61
General 00
Co., Ltd.
operations:
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
developmen
t,
production
and sale of
semi-condu
ctor lighting
utensils,
drive circuit
and control
system
software
and
hardware
systems;
(produced
only by
branches)
design and
installation
of lighting
engineering
; import &
export of
semi-condu
ctor lighting
components
and
utensils,
drive circuit
and control
system
software
and
hardware
systems
4. Significant projects invested with non-raised funds
√ Applicable □ Inapplicable
Unit: RMB Ten Thousand
Cumulative actual
Project name Total investment Input for this period input as at the Project progress Project earnings
period-end
Suzhou Mont 2,436 2,436 2,436 100.00% -156.83
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Lighting Co., Ltd.
Total 2,436 2,436 2,436 -- --
Date when the relevant interim
announcement (if any) was disclosed on 24 May 2014
the designated website
Designated website where the relevant
interim announcement (if any) was www.cninfo.com.cn
disclosed
VI. Predict the operating results of Jan.-Sept. 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
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
□Applicable √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
□Applicable √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 2014, the “Preplan for Profit Allocation for 2013” was reviewed and approved at the 2013 Annual
Shareholders’ General Meeting held by the Company. As the profit allocation plan for 2013, the Company, based
on the total 978,563,745 shares as at the end of 2013, distributed a cash dividend of RMB 1.60 (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 12 Jun. 2014, the Company disclosed the “Announcement of the Implementation of Profit Allocation for
2013” and determined that A shares’ date of record was on 19 Jun. 2014, ex-dividend date on 20 Jun. 2014, the
last trading date of B shares on 19 Jun. 2014 and the ex-dividend date on 20 Jun. 2014. B shares’ date of record
20
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
was on 24 Jun. 2014. At the end of the reporting period, the implementation of profit allocation plan for 2013 was
completed.
Special statement about the cash dividend policy
In compliance with the Company’s Articles of
Association and the resolution of the general Yes
meeting
Specific and clear dividend standard and ratio Yes
Complete decision-making procedure and
Yes
mechanism
Independent directors fulfilled their
Yes
responsibilities and played their due role.
Minority shareholders have the chance to fully
express their opinion and desire and their legal Yes
rights and interests were fully protected.
In adjustment or alteration of the cash dividend
policy, the conditions and procedure were in Yes
compliance with regulations and transparent.
X. Pre-plan for profit allocation and turning capital reserve into share capital for the
reporting period
□ Applicable √ Inapplicable
The Company planed not to distribute cash dividends or bonus shares or turn capital reserve into share capital for
the reporting period.
XI. Particulars about researches, visits and interviews received in this reporting period
√ Applicable □ Inapplicable
Main discussion and
Time Place Way of reception Visitor type Visitor materials provided by the
Company
GF Securities,
China Southern
Asset Management,
CITIC Securities,
GF Fund
Management, Lion Production and operation of
3 Jan. 2014 The Company Field research Institution
Fund Management, the Company
Beijing Longrising
Asset Management,
Tianhong Asset
Management,
PingAn Securities
21
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Production and operation of
6 Jan. 2014 The Company Field research Institution China AMC
the Company
Nomura
International (Hong
Kong), CIC
International (Hong
Kong), Value
Partners, Manulife
Asset Management,
Production and operation of
18 Feb. 2014 The Company Field research Institution BlackRock, Allianz
the Company
Global Investors,
DIAM Asset
Management
(Hong Kong),
BOCI-Prudential,
TPG-AXON
Capital
Morgan Stanley
(Taiwan), Keywise
Production and operation of
12 Mar. 2014 The Company Field research Institution Capital (Hong
the Company
Kong), Allianz
Global Investors
Great Wall Fund
Management,
Invesco Great Wall,
SWS MU Fund
Management,
China Merchants
Fund, Hong Kong
BOCI-Prudential,
China AMC,
CITICPE, GF Fund
Management, Production and operation of
6 May 2014 The Company Field research Institution
BOCOM the Company
Schroders, Penghua
Fund, CITIC
Securities, Foresea
Life Insurance,
Baoying Fund
Management,
Qianhe Capital,
Golden Eagle,
Chang Xin Asset
Management,
22
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Fortune SG Fund
Management,
Galaxy AMC, E
Fund Management,
Lion Fund
Management,
Orient Securities
Asset Management,
Hua An Fund
Management,
Huashang Fund
Management, CCB
Principal Asset
Management
23
2014 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 the Company Law, the Securities Law, the Code of
Corporate Governance of Listed Companies, the Stock Listing Rules of Shenzhen Stock Exchange
and other laws, regulations and rules, the Company kept improving the corporate governance
structure, optimizing the internal management and standardizing operation. The Company has
formulated an organizational management system including the Shareholders’ General Meeting, the
Board of Directors, the Supervisory Committee and the management team, which are functioning
smoothly. The Company has also formulated its Articles of Association, the Rules of Procedure for
the Shareholders’ General Meeting, the Board of Directors and the Supervisory Committee, the
rules of procedure for the special committees under the Board of Directors, the Working Rules for
GM and some other rules, as well as internal control rules governing almost all respects in operation
and management such as financial management, investment management, information disclosure,
related-party transactions, provision of guarantees for external parties, etc., which are all effectively
executed. 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 lawsuits or arbitrations
√ Applicable □ Inapplicable
Amount
involved in the Forming the Trial result and Enforcement on
Basic information Progress of
lawsuit estimated influence of the the judgment of Disclosure Disclosure
of the lawsuit the lawsuit
(arbitration) liabilities or lawsuit the lawsuit date index
(arbitration) (arbitration)
(RMB Ten not? (arbitration) (arbitration)
thousand)
In Mar. 2013, On 9 Jul. Announceme
The lawsuits are
CSRC Guangdong 2014, nt title:
currently in trial
administered an Guangzhou Announceme
with no judgment.
administrative Intermediat nt on Lawsuit
RMB 73.4283 Therefore, the
punishment on the e People’s Matters;
million and No influence of these Inapplicable 18 Sep. 2013
illegal information Court Announceme
HKD 82,000 lawsuits on the
disclosure of the opened a nt No.:
Company is
Company. 515 court 2013-039;
unable to be
plaintiffs session for Website of
known for now.
separately sued the the 515 disclosure:
24
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Company to cases, but http://www.c
Guangzhou no verdict ninfo.com.cn
Intermediate has come
People’s Court for out yet.
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 On 25 Aug
illegal information 2014, Announceme
disclosure of the Guangzhou nt title:
The lawsuits are
Company. 672 Intermediat Announceme
currently in trial
plaintiffs e People’s nt on Lawsuit
with no judgment.
separately sued the Court Matters;
Therefore, the
Company to RMB 87.0947 opened a Announceme
No influence of these Inapplicable 8 Jan. 2014
Guangzhou million court nt No.:
lawsuits on the
Intermediate session for 2014-003;
Company is
People’s Court for the group of Website of
unable to be
false securities cases, but disclosure:
known for now.
statement, no verdict http://www.c
demanding civil has come ninfo.com.cn
compensations out yet.
from the Company
for its illegal
information
disclosure.
In Mar. 2013, Currently these Announceme
CSRC Guangdong cases haven’t nt title:
administered an Currently entered Announceme
administrative these cases substantive nt on Lawsuit
RMB 22.5254
punishment on the haven’t hearing. Matters;
million and No Inapplicable 15 Mar. 2014
illegal information entered Therefore, the Announceme
HKD 546,600
disclosure of the substantive influence of these nt No.:
Company. 116 hearing. lawsuits on the 2014-011;
plaintiffs Company is Website of
separately sued the unable to be disclosure:
25
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Company to known for now. http://www.c
Guangzhou ninfo.com.cn
Intermediate
People’s Court for
false securities
statement,
demanding civil
compensations
from the Company
for its illegal
information
disclosure.
III. Media query
□Applicable √Inapplicable
The Company was not involved in any media query in the reporting period.
IV. Bankruptcy and reorganization
□ Applicable √ Inapplicable
Bankruptcy and reorganization did not occur to the Company in the reporting period.
V. Asset transactions
1. Purchase of assets
√ Applicable □ Inapplicable
Relationsh
ip between
Ratio of the
the net transaction
Influence Influence profit party and
Transactio Asset Transactio Related-pa
on the on the contribute the Disclosure
n party or acquired n price Progress rty Disclosure
Company’ Company’ d by the Company date (note
ultimate or bought (RMB Ten (note 2) transaction index
s operation s gain/loss asset to the (applicable 5)
controller in thousand) or not
(note 3) (note 4) Company for
to the total related-par
profit (%) ty
transaction
s)
Zhang 34.09296 The The equity Inapplicabl 24 May Announce
1,235 Naught 0.00% No
Yingchun ％ equity relevant acquisition e 2014 ment title:
26
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
interests of assets would not Announce
Suzhou were all affect the ment on
Mont transferred business Acquisitio
Lighting in. continuity n of Some
Co., Ltd. and Equity
manageme Interests of
nt stability and
of the Increasing
Company. the
Investment
in Suzhou
Mont
Lighting
Co., Ltd.;
Announce
ment No.:
2014-023;
Website of
disclosure:
http://www
.cninfo.co
m.cn
2. Sale of assets
√ Applicable □ Inapplicable
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)
15.38% The sale With the Name of
Inapplic 14 Jun.
equity 0 of the 0.00% assessm No No No announc
able 2014
interests equity ent ement:
27
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
of would result as Announ
Guangz not the cement
hou affect pricing on
Pearl the base Transfer
River business the
Asset continui Equity
Manage ty and of
ment manage Guangz
Co., ment hou
Ltd. stability Pearl
of the River
Compan Asset
y. Manage
ment
Co.,
Ltd.;
Announ
cement
No.:
2014-02
8;
Disclos
ure
website:
www.cn
info.co
m.cn
3. Business combination
□ Applicable √ Inapplicable
No business combination occurred to the Company during the reporting period.
VI. Implementation of equity incentive and its influence
□ Applicable √ Inapplicable
The Company did not make or carry out any equity incentive plan during the reporting period.
VII. Significant related-party transactions
1. Related-party transactions concerning routine operation
√ Applicable □ Inapplicable
Related Relation Type of Contents Pricing Transacti Transacti Proportio Method Obtainable Disclosu Disclosur
28
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
transactio the of the principle on on n in the of market re date e index
n party transactio transactio price(RM amount total settlement price for
n n B Ten (RMB amounts the
thousand) Ten of transaction
thousand) transactio of the same
ns of the kind (RMB
same kind Ten
(%) thousand)
Purchasin
g
Legal
products
Prosperity person
and
Lamps & that held Purchase
receiving Market Remittanc 25 Apr. www.cnin
Compone over 5% of 177.53 177.53 0.19% 177.53
labor price e 2014 fo.com.cn
nts shares of materials
service
Limited the
from the
Company
related
party
Purchasin
g
A
products
company
Prosperity and
controlled Purchase
Electrical receiving Market Remittanc 25 Apr. www.cnin
by the of 1,428.74 1,428.74 1.49% 1,428.74
(China) labor price e 2014 fo.com.cn
related materials
Co., Ltd. service
natural
from the
person
related
party
Purchasin
g
A
Hangzhou products
company
Times and
controlled Purchase
Lighting receiving Market Remittanc 25 Apr. www.cnin
by the of 148.03 148.03 0.15% 148.03
and labor price e 2014 fo.com.cn
related materials
Electrical service
natural
Co., Ltd. from the
person
related
party
Hangzhou A Selling
Times company products
Lighting controlled and Sale of Market Remittanc 25 Apr. www.cnin
0.24 0.24 0.00% 0.24
and by the providing products price e 2014 fo.com.cn
Electrical related labor
Co., Ltd. natural service to
29
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
person the
related
party
Selling
Legal products
Prosperity person and
Lamps & that held providing
Sale of Market Remittanc 25 Apr. www.cnin
Compone over 5% labor 1,986.03 1,986.03 1.30% 1,986.03
products price e 2014 fo.com.cn
nts shares of service to
Limited the the
Company related
party
Selling
Prosperity A products
(Hangzho company and
u) controlled providing
Sales of Market Remittanc 25 Apr. www.cnin
Lighting by the labor 368.78 368.78 0.24% 368.78
products price e 2014 fo.com.cn
and related service to
Electrical natural the
Co., Ltd. person related
parties
Selling
A products
company and
Prosperity
controlled providing
Electrical Sales of Market Remittanc 25 Apr. www.cnin
by the labor 24.54 24.54 0.02% 24.54
(China) products price e 2014 fo.com.cn
related service to
Co., Ltd.
natural the
person related
parties
An
acting-in- Selling
concert products
party of a and
OSRAM
legal providing
(China) Sales of Market Remittanc 25 Apr. www.cnin
person labor 466.34 466.34 0.31% 466.34
Lighting products price e 2014 fo.com.cn
that held service to
Co., Ltd.
over 5% the
shares of related
the parties
Company
Osram An Selling
Sales of Market Remittanc 25 Apr. www.cnin
Asia acting-in- products 1,816.03 1,816.03 1.19% 1,816.03
products price e 2014 fo.com.cn
Pacific concert and
30
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Ltd. party of a providing
legal labor
person service to
that held the
over 5% related
shares of parties
the
Company
Total -- -- 6416.26 -- -- -- --
Details of large-amount refunds Naught
On 28 May 2014, the Company convened the 2013 Annual Shareholders’ General
Where the total amount of routine
Meeting, at which the “Proposal on the Routine Related-party Transactions for 2014”
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 2014 would stand at RMB 185.35 million. In the reporting
type, give the actual execution in the
period, the actual amount of purchase from related parties was RMB 17.543 million
reporting period (if any)
and that of sale to related parties was RMB 46.6196 million.
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
□ Applicable √ Inapplicable
No related-party transaction arising from acquisition and sale of assets occurred to the Company during the
reporting period.
3. Related-party transactions arising from joint investment in external parties
□ Applicable √ Inapplicable
No related-party transaction arising from joint investment in external parties occurred to the Company during the
reporting period.
4. Credits and liabilities with related parties
□ Applicable √ Inapplicable
No credit or liability occurred to the Company and related parties during the reporting period.
5. Other significant related-party transactions
□ Applicable √ Inapplicable
No other significant related-party transactions occurred to the Company during the reporting period.
31
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
VIII. Occupation of the Company’s funds for non-operating purposes by the controlling
shareholder and its related parties
□ Applicable √ Inapplicable
The controlling shareholder or its related parties did not occupy the Company’s funds for non-operating purposes
during the reporting period.
IX. Significant contracts and fulfillment thereof
1. Trusteeship, contracting and leasing
(1) Trusteeship
□ Applicable √ Inapplicable
The Company did not make any entrustment in the reporting period.
(2) Contracting
□ Applicable √ Inapplicable
No contracting occurred to the Company in the reporting period.
(3) Leasing
√ Applicable □ Inapplicable
Particulars about the leasing:
The Company and Shanghai Jiabao Industry & Commerce (Group) Co., Ltd. (hereinafter referred to as “Shanghai
Jiabao) signed , where Shanghai Jiabao agreed to license the Company to
exclusively use its trademarks “Hu Zi” (registration No.: 100940), “Lian He” (registration No.: 100950) and “Lian
He” (registration No.: 3603597) from 1 Jan. 2014 to 31 Dec. 2016; and the Company shall pay to Shanghai Jiabao
1% of the net sales of products produced by the Company and carrying the licensed trademarks as the license fee,
but it shall not be less than RMB 1 million per year (for details, see the “Announcement No. 2014-002 on Signing
” disclosed on http://www.cninfo.com.cn dated 9 Jan. 2014).
Any leasing event incurring gain/loss reaching more than 10% of the total profits of the Company in the reporting
period
□ Applicable √ Inapplicable
No leasing event incurred gain/loss reaching more than 10% of the total profits of the Company in the reporting
period.
2. Guarantees provided by the company
□ Applicable √ Inapplicable
The Company did not provide any guarantee in the reporting period.
32
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(1) Illegal provision of guarantees for external parties
□ Applicable √ Inapplicable
The Company did not illegally provide any guarantee for any external party in the reporting period.
3. Other significant contracts
□ Applicable √ Inapplicable
There was no other significant contract of the Company in the reporting period.
4. Other significant transactions
□ Applicable √ Inapplicable
There was no other significant transaction of the Company in the reporting period.
X. Commitments made by the Company or any shareholder holding over 5% of the
Company’s shares in the reporting period or such commitments carried down into the
reporting period
□ Applicable √ Inapplicable
No such commitments in the reporting period.
XI. Engagement and disengagement of the CPAs firm
Has the semi-annual financial report been audited?
□ Yes √ No
XII. Punishments and rectifications
□ Applicable √ Inapplicable
No punishments or rectifications in the reporting period.
XIII. Delisting risk due to violation of any law or regulation
□ Applicable √ Inapplicable
No such risk in the reporting period.
XIV. Other significant events
□ Applicable √ Inapplicable
No other significant event in the reporting period that needs to be explained.
33
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Section VI. Change in Shares & Shareholders
I. Change in shares
Unit: Share
Before the change Increase/decrease (+, -) After the change
Capitalizat
Percentag New Bonus ion of Percentag
Number Other Subtotal Number
e shares shares capital e
reserve
135,203,3 135,208,4
13.82% 5,025 5,025 13.82%
I. Restricted shares 81 06
3. Shares held by other
3,387,696 0.35% 5,025 5,025 3,392,721 0.35%
domestic investors
Among which: shares held
3,057,918 0.31% 3,057,918 0.31%
by domestic corporations
Shares held by domestic
329,778 0.03% 5,025 5,025 334,803 0.03%
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
843,360,3 843,355,3
86.18% -5,025 -5,025 86.18%
II. Non-restricted shares 64 39
618,139,3 618,134,3
63.17% -5,025 -5,025 63.17%
1. RMB ordinary shares 27 02
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 100.00% 100.00%
45 45
Reason for the change in shares:
√ Applicable □ Inapplicable
In the reporting period, Chen Yu was hired as a vice GM of the Company, 75% of whose 6,700 shares in the
Company were thus locked up according to regulations. As such, the restricted shares increased by 5,025 shares.
Approval of share changes
□ Applicable √ Inapplicable
Transfer of share ownership
□ Applicable √ Inapplicable
34
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Effects of changes 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 the last reporting period
□ Applicable √ Inapplicable
Other contents that the Company considers necessary or is required by the securities regulatory authorities to
disclose
□ Applicable √ Inapplicable
Change of the total shares, shareholder structure, asset structure and liability structure
□ Applicable √ Inapplicable
II. Total number of shareholders and their shareholdings
Unit: share
Total number of preferred share
Total number of common holders who had resumed their
shareholders at the end of the 120,845 voting right at the end of the 0
reporting period reporting period (if any) (see
note 8)
Shareholdings of shareholders holding more than 5% shares or top 10 shareholders
Increase Pledged or frozen shares
/decreas Number
Number of Number
e of of
shares held at of
Name of Nature of Shareholding shares non-rest
the end of the restricte Number of
shareholder shareholder percentage (%) during ricted Status of shares
reporting d shares shares
the shares
period held
reportin held
g period
OSRAM Holding
131,815
Company Foreign corporation 13.47% 131,815,685 0 0
,685
Limited
Prosperity Lamps
102,751
& Components Foreign corporation 10.50% 102,751,648 0 0
,648
Limited
China
Construction
Domestic
Bank-Fortune 16,159,
non-state-owned 1.65% 16,159,651 0
SGAM Industrial 651
corporation
Selected Stock
Fund
Essence
International 13,809,
Foreign corporation 1.41% 13,809,268 711191 0
Securities (Hong 268
Kong) Co., Ltd.
35
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
East Asia
Securities 9,527,0
Foreign corporation 0.97% 9,527,080 0 0
Company 80
Limited
Bank of
China-Invesco Domestic
9,328,3
Great Wall non-state-owned 0.95% 9,328,356 0
56
Dingyi Stock corporation
Open-ended Fund
China
Construction
Domestic
Bank-China 8,568,6
non-state-owned 0.88% 8,568,664 0
Advantage 64
corporation
Growth Stock
Fund
8,324,1
Zhuang Jianyi Foreign individual 0.85% 8,324,132 0 0
32
Merrill Lynch 8,240,1
Foreign corporation 0.84% 8,240,154 0
International 54
DBS
Vickers(Hong -478982 7,881,9
Foreign corporation 0.81% 7,881,913 0
Kong) Ltd A/C 8 13
Clients
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
Explanation on associated relationship Limited and Zhuang Jianyi were related parties and acting-in-concert parties. Apart from
or/and persons acting in concert among that, it’s unknown whether there was any associated relationship among other shareholders
the above-mentioned shareholders of the top ten shareholders, or whether there is any action-in-concert among them
regarding to Administrative Measures on Acquisition of Listed Companies.
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 RMB ordinary
102,751,648 102,751,648
Limited share
China Construction Bank-Fortune RMB ordinary
16,159,651 16,159,651
SGAM Industrial Selected Stock Fund share
Domestically
Essence International Securities (Hong
13,809,268 listed foreign 13,809,268
Kong) Co., Ltd.
share
Domestically
East Asia Securities Company Limited 9,527,080 9,527,080
listed foreign
36
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
share
Bank of China-Invesco Great Wall RMB ordinary
9,328,356 9,328,356
Dingyi Stock Open-ended Fund share
China Construction Bank-China RMB ordinary
8,568,664 8,568,664
Advantage Growth Stock Fund share
Domestically
Zhuang Jianyi 8,324,132 listed foreign 8,324,132
share
Domestically
Merrill Lynch International 8,240,154 listed foreign 8,240,154
share
Domestically
DBS Vickers(Hong Kong) Ltd A/C
7,881,913 listed foreign 7,881,913
Clients
share
Bank of Communications-Fortis
RMB ordinary
Haitong Selected Securities Investment 7,254,510 7,254,510
share
Fund
Explanation on associated relationship
Among the top ten shareholders of the Company, Prosperity Lamps & Components
or/and persons acting in concert among
Limited and Zhuang Jianyi were related parties and acting-in-concert parties. Apart from
the top ten tradable shareholders and
that, it’s unknown whether there was any associated relationship among other shareholders
between the top ten tradable
of the top ten shareholders, or whether there is any action-in-concert among them
shareholders and the top ten
regarding to Administrative Measures on Acquisition of Listed Companies.
shareholders
Explanation on the top 10 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
No shareholder of the Company carried out any agreed buy-back in the reporting period.
III. Change of the controlling shareholder or the actual controller
Change of the controlling shareholder in the reporting period
□ Applicable √ Inapplicable
The controlling shareholder of the Company did not change in the reporting period.
Change of the actual controller in the reporting period
□ Applicable √ Inapplicable
The actual controller of the Company did not change in the reporting period.
37
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
IV. Any shareholding increase plan proposed or implemented by any shareholder or its
act-in-concert party during the reporting period
□ Applicable √ Inapplicable
To the best knowledge of the Company, no shareholder or its act-in-concert party proposed or implemented any
shareholding increase plan during the reporting period.
38
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Section VII. Preferred Shares
Inapplicable
39
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Section VIII. Directors, Supervisors & Senior Management Staff
I. Change of shareholdings of directors, supervisors and senior management staff
□ Applicable √ Inapplicable
There was no change in the shareholdings of directors, supervisors and senior management staff in the reporting
period. For details, please refer to the 2013 Annual Report.
II. Change of directors, supervisors and senior management staff
√ Applicable □ Inapplicable
Name Position Type Date Reason
Hired by the Board of Directors as a vice
Chen Yu Vice GM Hired 13 May 2014
GM
40
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Section IX. 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 861,415,714.44 897,675,824.22
Settlement reserves
Intra-group lendings
Transactional financial assets 998,152.00 3,903,197.90
Notes receivable 231,892,346.49 154,142,432.66
Accounts receivable 522,173,015.03 390,216,735.62
Accounts paid in advance 74,912,388.57 24,054,319.34
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract
reserves
Interest receivable 1,306,965.54 1,304,200.33
Dividends receivable
Other accounts receivable 19,478,412.05 24,145,083.88
Financial assets purchased under
agreement to resell
Inventories 584,168,210.52 516,804,156.44
Non-current assets due within 1 year
Other current assets 9,008,826.87 9,408,829.51
Total current assets 2,305,354,031.51 2,021,654,779.90
Non-current assets:
Entrustment loans and advances
granted
Available-for-sale financial assets 59,808,790.72 62,634,402.88
41
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investments 483,662,974.53 492,153,947.39
Investing properties 0.00 0.00
Fixed assets 451,568,075.10 472,740,489.84
Construction in progress 94,422,223.49 75,044,472.56
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 191,140,283.87 173,234,598.73
R&D expense
Goodwill 6,603,743.83
Long-term deferred expenses
Deferred income tax assets 29,056,163.52 28,924,666.74
Other non-current assets 51,429,822.41 47,394,194.81
Total non-current assets 1,367,692,077.47 1,352,126,772.95
Total assets 3,673,046,108.98 3,373,781,552.85
Current liabilities:
Short-term borrowings
Borrowings from the Central Bank
Customer bank deposits and due to
banks and other financial institutions
Intra-group borrowings
Transactional financial liabilities
Notes payable
Accounts payable 506,823,920.43 270,968,881.44
Accounts received in advance 57,304,411.41 45,620,298.34
Financial assets sold for repurchase
Handling charges and commissions
payable
Payroll payable 54,711,416.32 60,636,740.85
Taxes and fares payable 44,456,205.21 19,571,121.78
Interest payable
Dividends payable
Other accounts payable 25,343,778.09 35,613,570.14
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
42
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Other current liabilities
Total current liabilities 688,639,731.46 432,410,612.55
Non-current liabilities:
Long-term borrowings
Bonds payable
Long-term payables
Specific payables
Projected liabilities
Deferred income tax liabilities 4,470,340.29 4,891,338.97
Other non-current liabilities 10,982,550.93 11,092,550.73
Total non-current liabilities 15,452,891.22 15,983,889.70
Total liabilities 704,092,622.68 448,394,502.25
Owners’ equity (or shareholders’ equity)
Paid-up capital (or share capital) 978,563,745.00 978,563,745.00
Capital reserves 615,192,336.87 617,594,107.21
Less: Treasury stock
Specific reserves 0.00
Surplus reserves 622,494,531.96 622,494,531.96
Provisions for general risks
Retained profits 704,318,477.82 671,929,537.57
Foreign exchange difference
Total equity attributable to owners of the
2,920,569,091.65 2,890,581,921.74
Company
Minority interests 48,384,394.65 34,805,128.86
Total owners’ (or shareholders’) equity 2,968,953,486.30 2,925,387,050.60
Total liabilities and owners’ (or
3,673,046,108.98 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
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 552,886,955.79 581,390,386.39
Transactional financial assets 998,152.00 3,903,197.90
Notes receivable 227,817,682.74 153,942,432.66
Accounts receivable 535,077,480.13 428,330,282.09
Accounts paid in advance 61,726,024.05 29,435,327.20
Interest receivable
Dividends receivable
43
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Other accounts receivable 78,223,792.61 71,612,354.13
Inventories 533,544,216.28 472,321,376.79
Non-current assets due within 1 year
Other current assets 3,294,297.36 3,790,803.20
Total current assets 1,993,568,600.96 1,744,726,160.36
Non-current assets:
Available-for-sale financial assets 59,808,790.72 62,634,402.88
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investments 925,612,914.29 909,743,887.15
Investing properties
Fixed assets 351,599,247.91 370,702,024.40
Construction in progress 92,506,898.67 74,051,205.53
Engineering materials 0.00
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 127,533,077.27 129,859,177.45
R&D expenses
Goodwill
Long-term deferred expenses
Deferred income tax assets 26,338,798.56 26,102,706.56
Other non-current assets 48,051,050.35 47,394,194.81
Total non-current assets 1,631,450,777.77 1,620,487,598.78
Total assets 3,625,019,378.73 3,365,213,759.14
Current liabilities:
Short-term borrowings
Transactional financial liabilities
Notes payable
Accounts payable 509,639,490.17 321,372,591.12
Accounts received in advance 55,059,878.54 45,547,349.36
Payroll payable 53,719,125.55 60,356,477.70
Taxes and fares payable 35,892,224.15 13,335,938.26
Interest payable
Dividends payable
Other accounts payable 80,049,313.90 60,963,050.92
Non-current liabilities due within 1
year
Other current liabilities
Total current liabilities 734,360,032.31 501,575,407.36
Non-current liabilities:
Long-term borrowings
Bonds payable
44
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Long-term payables
Specific payables
Projected liabilities 0.00
Deferred income tax liabilities 4,470,340.29 4,891,338.97
Other non-current liabilities 10,130,050.79 10,162,550.77
Total non-current liabilities 14,600,391.08 15,053,889.74
Total liabilities 748,960,423.39 516,629,297.10
Owners’ equity (or shareholders’
equity)
Paid-up capital (or share capital) 978,563,745.00 978,563,745.00
Capital reserves 612,287,406.19 614,689,176.53
Less: Treasury stock
Specific reserves 0.00
Surplus reserves 622,494,531.96 622,494,531.96
Provisions for general risks
Retained profits 662,713,272.19 632,837,008.55
Foreign exchange difference
Total owners’ (or shareholders’) equity 2,876,058,955.34 2,848,584,462.04
Total liabilities and owners’ (or
3,625,019,378.73 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 Reporting period Same period of last year
I. Operating revenues 1,543,058,758.03 1,208,260,446.06
Including: Sales income 1,543,058,758.03 1,208,260,446.06
Interest income
Premium income
Handling charge and
commission income
II. Operating costs 1,336,550,333.42 1,075,626,585.36
Including: Cost of sales 1,156,217,280.15 925,675,209.12
Interest expenses
Handling charge and
commission expenses
Surrenders
Net claims paid
Net amount withdrawn for the
insurance contract reserve
45
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Expenditure on policy dividends
Reinsurance expenses
Business tax and surtaxes 15,129,954.30 13,697,631.32
Selling expenses 62,967,912.93 44,431,240.08
Administrative expenses 104,495,339.45 77,932,401.53
Financial expenses -5,733,347.63 -3,963,817.89
Asset impairment loss 3,473,194.22 17,853,921.20
Add: Gain/(loss) from change in fair
1,115,756.46 -69,701.45
value (“-” for loss)
Gain/(loss) from investment (“-”
18,115,405.78 -945,061.26
for loss)
Including: share of profits in associates
-2,310,773.80 -301,861.76
and joint ventures
Foreign exchange gains (“-” for loss)
III. Operating profits (“-” for loss) 225,739,586.85 131,619,097.99
Add: non-operating income 3,294,367.06 71,680,160.17
Less: non-operating expense 115,455.48 10,700,438.83
Including: loss from non-current asset
109,843.02 908,276.06
disposal
IV. Total profits (“-” for loss) 228,918,498.43 192,598,819.33
Less: Income tax expense 41,689,863.95 39,614,342.25
V. Net profit (“-” for loss) 187,228,634.48 152,984,477.08
Including: Net profit achieved by
combined parties before the
combinations
Attributable to owners of the
188,959,139.45 153,047,291.37
Company
Minority shareholders’ income -1,730,504.97 -62,814.29
VI. Earnings per share -- --
(I) Basic earnings per share 0.1931 0.1564
(II) Diluted earnings per share 0.1931 0.1564
Ⅶ. Other comprehensive incomes -2,401,770.34 -3,802,803.04
Ⅷ. Total comprehensive incomes 184,826,864.14 149,181,674.04
Attributable to owners of the
186,557,369.11 149,244,488.33
Company
Attributable to minority
-1,730,504.97 -62,814.29
shareholders
Legal representative: Pan Jie Chief of the accounting work: Pan Jie Chief of the accounting organ: Yin Jianchun
46
2014 Semi-annual Report 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 Reporting period Same period of last year
I. Sales income 1,570,233,178.58 1,223,393,705.32
Less: cost of sales 1,211,678,092.30 960,725,666.05
Business tax and surtaxes 11,194,128.07 11,627,281.00
Selling expenses 60,991,976.26 43,727,705.08
Administrative expenses 89,859,368.24 73,053,854.25
Financial costs -1,916,558.81 -621,497.90
Asset impairment loss 2,949,407.02 16,165,237.79
Add: gain/(loss) from change in
1,115,756.46 -69,701.45
fair value (“-” for loss)
Gain/(loss) from investment
23,003,450.66 -2,324,333.77
(“-” for loss)
Including: income form
investment on associates and joint -2,310,773.80 -301,861.76
ventures
II. Operating profits (“-” for loss) 219,595,972.62 116,321,423.83
Add: non-operating income 3,124,825.27 71,489,414.54
Less: non-operating expense 66,956.52 9,340,695.22
Including: loss from
61,753.86 908,276.06
non-current asset disposal
III. Total profits (“-” for loss) 222,653,841.37 178,470,143.15
Less: income tax expense 36,207,378.53 34,154,458.36
IV. Net profit (“-” for loss) 186,446,462.84 144,315,684.79
V. Earnings per share -- --
(I) Basic earnings per share
(II) Diluted earnings per share
VI. Other comprehensive income -2,401,770.34 -3,802,803.04
VII. Total comprehensive income 184,044,692.50 140,512,881.75
Legal representative: Pan Jie Chief of the accounting work: Pan Jie Chief of the accounting organ: Yin Jianchun
5. Consolidated cash flow statement
Prepared by Foshan Electrical and Lighting Co., Ltd.
Unit: RMB Yuan
Item Reporting period Same period of last year
I. Cash flows from operating activities:
Cash received from sale of
1,333,941,842.20 1,172,739,056.38
commodities and rendering of service
47
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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 34,520,178.28 4,267,457.30
Other cash received relating to
14,364,024.05 31,153,008.64
operating activities
Subtotal of cash inflows from operating
1,382,826,044.53 1,208,159,522.32
activities
Cash paid for goods and services 802,239,813.12 736,896,903.91
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 264,418,513.80 207,027,929.97
Various taxes paid 105,888,683.00 145,930,301.44
Other cash payment relating to
71,837,267.84 106,592,134.39
operating activities
Subtotal of cash outflows from
1,244,384,277.76 1,196,447,269.71
operating activities
Net cash flows from operating activities 138,441,766.77 11,712,252.61
48
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
II. Cash flows from investing activities:
Cash received from withdrawal of
45,630,194.24 41,710,000.00
investments
Cash received from return on
22,174,444.40 1,365,712.54
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
67,804,638.64 67,264,912.54
investing activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 38,813,026.30 41,936,669.95
assets
Cash paid for investment 38,823,057.64
Net increase of pledged loans
Net cash paid to acquire subsidiaries
11,512,886.32
and other business units
Other cash payments relating to
investing activities
Subtotal of cash outflows from
89,148,970.26 41,936,669.95
investing activities
Net cash flows from investing activities -21,344,331.62 25,328,242.59
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
2,452.04
financing activities
Subtotal of cash inflows from financing
2,452.04 0.00
activities
Repayment of borrowings
Cash paid for interest expenses and
149,551,837.14 284,036,742.40
distribution of dividends or profit
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Including: dividends or profit paid
by subsidiaries to minority shareholders
Other cash payments relating to
2,034,300.00
financing activities
Sub-total of cash outflows from
151,586,137.14 284,036,742.40
financing activities
Net cash flows from financing activities -151,583,685.10 -284,036,742.40
IV. Effect of foreign exchange rate
-1,773,859.83 -2,050,576.88
changes on cash and cash equivalents
V. Net increase in cash and cash
-36,260,109.78 -249,046,824.08
equivalents
Add: Opening balance of cash and
897,675,824.22 985,450,890.74
cash equivalents
VI. Closing balance of cash and cash
861,415,714.44 736,404,066.66
equivalents
Legal representative: Pan Jie Chief of the accounting work: Pan Jie Chief of the accounting organ: Yin Jianchun
6. Cash flow statement of the Company
Prepared by Foshan Electrical and Lighting Co., Ltd.
Unit: RMB Yuan
Item Reporting period Same period of last year
I. Cash flows from operating activities:
Cash received from sale of
1,312,983,459.34 1,158,623,534.80
commodities and rendering of service
Tax refunds received 34,520,178.28 4,267,457.30
Other cash received relating to
12,846,878.11 27,298,534.13
operating activities
Subtotal of cash inflows from operating
1,360,350,515.73 1,190,189,526.23
activities
Cash paid for goods and services 970,871,859.20 796,901,956.65
Cash paid to and for employees 112,196,258.40 169,614,592.87
Various taxes paid 66,645,790.86 123,599,675.65
Other cash payment relating to
66,072,257.30 104,395,965.90
operating activities
Subtotal of cash outflows from
1,215,786,165.76 1,194,512,191.07
operating activities
Net cash flows from operating activities 144,564,349.97 -4,322,664.84
II. Cash flows from investing activities:
Cash received from retraction of
45,630,194.24 50,330,727.49
investments
Cash received from return on
27,062,489.28 1,365,712.54
investments
50
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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
72,692,683.52 75,885,640.03
investing activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 33,138,309.48 40,082,349.91
assets
Cash paid for investment 63,183,057.64 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
96,321,367.12 55,082,349.91
investing activities
Net cash flows from investing activities -23,628,683.60 20,803,290.12
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
147,665,237.14 284,036,742.40
distribution of dividends or profit
Other cash payments relating to
financing activities
Sub-total of cash outflows from
147,665,237.14 284,036,742.40
financing activities
Net cash flows from financing activities -147,665,237.14 -284,036,742.40
IV. Effect of foreign exchange rate
-1,773,859.83 -2,050,576.88
changes on cash and cash equivalents
V. Net increase in cash and cash
-28,503,430.60 -269,606,694.00
equivalents
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Add: Opening balance of cash and
581,390,386.39 699,511,754.78
cash equivalents
VI. Closing balance of cash and cash
552,886,955.79 429,905,060.78
equivalents
Legal representative: Pan Jie Chief of the accounting work: Pan Jie Chief of the accounting organ: Yin Jianchun
7. Consolidated Statement of Changes in Owners’ Equity
Prepared by Foshan Electrical and Lighting Co., Ltd.
Reporting period
Unit: RMB Yuan
Reporting period
Equity attributable to owners of the Company
Paid-up
Total
Item capital Less: General Minority
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 978,563 617,594, 622,494 671,929, 34,805,12 2,925,387,
previous year ,745.00 107.21 ,531.96 537.57 8.86 050.60
Add: change of accounting
policy
Correction of errors in
previous periods
Other
II. Balance at the beginning of 978,563 617,594, 622,494 671,929, 34,805,12 2,925,387,
the year ,745.00 107.21 ,531.96 537.57 8.86 050.60
III. Increase/ decrease in the -2,401,7 32,388,9 13,579,26 43,566,435
period (“-” means decrease) 70.34 40.25 5.79 .70
188,959, -1,730,50 187,228,63
(I) Net profit
139.45 4.97 4.48
(II) Other comprehensive -2,401,7 -2,401,770.
incomes 70.34 34
-2,401,7 188,959, -1,730,50 184,826,86
Subtotal of (I) and (II)
70.34 139.45 4.97 4.14
(III) Capital paid in and 17,404,64 17,404,647
reduced by owners 7.14 .14
1. Capital paid in by
owners
2. Amounts of share-based
payments recognized in
owners’ equity
3. Others 17,404,64 17,404,647
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
7.14 .14
-156,57 -2,094,87 -158,665,0
(IV) Profit distribution
0,199.20 6.38 75.58
1. Appropriations to
surplus reserves
2. Appropriations to
general risk provisions
3. Appropriations to -156,57 -2,094,87 -158,665,0
owners (or shareholders) 0,199.20 6.38 75.58
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
978,563 615,192, 622,494 704,318, 48,384,39 2,968,953,
IV. Closing balance
,745.00 336.87 ,531.96 477.82 4.65 486.30
Same period of last year
Unit: RMB Yuan
Same period of last year
Equity attributable to owners of the Company
Paid-up
Total
Item capital Less: General Minority
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: retrospective
adjustment due to business
combination under the same
control
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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
153,047, -62,814.2 152,984,47
(I) Net profit
291.37 9 7.08
(II) Other comprehensive -3,802,8 -3,802,803.
incomes 03.04 04
153,047, -62,814.2 149,181,67
Subtotal of (I) and (II)
291.37 9 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
-303,35 -303,354,7
(IV) Profit distribution
4,760.95 60.95
1. Appropriations to
surplus reserves
2. New increase of capital
(or share capital) from surplus
reserves
3. Surplus reserves for -303,35 -303,354,7
making up losses 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
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(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
Legal representative: Pan Jie Chief of the accounting work: Pan Jie 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.
Reporting period
Unit: RMB Yuan
Reporting period
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 978,563,74 614,689,17 622,494,53 632,837,00 2,848,584,
previous year 5.00 6.53 1.96 8.55 462.04
Add: change of accounting
policy
Correction of errors in
previous periods
Other
II. Balance at the beginning of 978,563,74 614,689,17 622,494,53 632,837,00 2,848,584,
the year 5.00 6.53 1.96 8.55 462.04
III. Increase/ decrease in the -2,401,770. 29,876,263 27,474,493
period (“-” means decrease) 34 .64 .30
186,446,46 186,446,46
(I) Net profit
2.84 2.84
(II) Other comprehensive -2,401,770. -2,401,770.
incomes 34 34
-2,401,770. 186,446,46 184,044,69
Subtotal of (I) and (II)
34 2.84 2.50
(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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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
-156,570,1 -156,570,1
(IV) Profit distribution
99.20 99.20
1. Appropriations to surplus
reserves
2. Appropriations to general
risk provisions
3. Appropriations to owners -156,570,1 -156,570,1
(or shareholders) 99.20 99.20
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
978,563,74 612,287,40 622,494,53 662,713,27 2,876,058,
IV. Closing balance
5.00 6.19 1.96 2.19 955.34
Same period of last year
Unit: RMB Yuan
Same period of last year
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 978,563,74 619,092,42 583,537,29 584,004,85 2,765,198,
previous year 5.00 2.15 0.22 7.71 315.08
Add: change of accounting
policy
Correction of errors in
previous periods
Other
II. Balance at the beginning of 978,563,74 619,092,42 583,537,29 584,004,85 2,765,198,
the year 5.00 2.15 0.22 7.71 315.08
III. Increase/ decrease in the 3,402,507. 38,957,241 105,974,23 148,333,98
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
period (“-” means decrease) 98 .74 9.41 9.13
389,572,41 389,572,41
(I) Net profit
7.40 7.40
(II) Other comprehensive 3,402,507. 3,402,507.
incomes 98 98
3,402,507. 389,572,41 392,974,92
Subtotal of (I) and (II)
98 7.40 5.38
(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
38,957,241 -283,598,1 -244,640,9
(IV) Profit distribution
.74 77.99 36.25
1. Appropriations to surplus 38,957,241 -38,957,24
0.00
reserves .74 1.74
2. Appropriations to general
risk provisions
3. Appropriations to owners -244,640,9 -244,640,9
(or shareholders) 36.25 36.25
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
978,563,74 622,494,93 622,494,53 689,979,09 2,913,532,
IV. Closing balance
5.00 0.13 1.96 7.12 304.21
Legal representative: Pan Jie Chief of the accounting work: Pan Jie Chief of the accounting organ: Yin Jianchun
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2014 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.
Registration code for corporate business license: 440000400010049
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 Electrical and Lighting Engineering Co., Ltd., Foshan Lighting Lamps and Lanterns
Co., Ltd., Guangdong Fozhao Leasing Co., Ltd. and Suzhou Mont 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
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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.
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.
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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 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
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.
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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
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
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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.
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.
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(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,
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.
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(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)
—The Company shall carry out an inspection, on the balance sheet day, on the carrying amount of the financial
assets other than those transactional financial assets. Where there is any objective evidence proving that such
financial asset has been impaired, an impairment provision shall be made.
— Measurement for impairment of financial assets measured on the basis of the post-amortization costs
Where there is any objective evidence proving that a financial asset measured on the basis of post-amortization
costs is impaired, the carrying amount of the said financial asset shall be written down to the current value of the
predicted future cash flow (excluding the loss of future credits not yet occurred), and the amount as written down
shall be recognized as loss of the impairment of the asset and shall be recorded into the profits and losses of the
current period. An impairment test shall be made on the financial assets with significant single amounts. With
regard to the financial assets with insignificant single amounts, an impairment test may be carried out by
independent or combination. Where, upon independent test, the financial asset has not been impaired, it shall be
included in a combination of financial assets with similar risk features so as to conduct another impairment test.
The financial assets which have suffered from an impairment loss in any single amount shall not be included in
any combination of financial assets with similar risk features for any impairment test. During the follow-up period,
if there is any objective evidence proving that the value of the said financial asset has been restored, and it is
objectively related to the events that occur after such loss is recognized, the impairment-related losses as
originally recognized shall be reversed and be recorded into the profits and losses of the current period. However,
the reversed carrying amount shall not be any more than the post-amortization costs of the said financial asset on
the day of reverse under the assumption that no provision is made for the impairment. Where any financial asset
measured on the basis of post-amortization costs is recognized as having loss, the relevant impairment provision
withdrawn shall be written off.
— Available-for-sale financial assets
Where a available-for-sale financial asset is impaired, even if the recognition of the financial asset has not been
terminated, the accumulative losses arising from the decrease of the fair value of the owner’s equity which was
directly included shall be transferred out and recorded into the profits and losses of the current period. The
accumulative losses that are transferred out shall be the net amount obtained from the initially obtained costs of
the sold financial asset after deducting the principals as taken back, the current fair value and the
impairment-related losses as was recorded into the profits and losses of the current period.
Each recognition standard of each kind of available-for-sale financial assets impairment
(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
Definition or amount criteria for an account receivable with a Accounts receivable with a significant single amount refer to
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
significant single amount the top five accounts receivable with the largest balances or
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.
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 account Withdrawing proportion of other
Name of the group
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.
Method for making bad-debt provisions for As for other receivables (including notes receivable, prepayments, interest
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
the said accounts receivables: receivable, long-term receivables, etc.), bad-debt provisions are made according to
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: weighted average
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.
(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.
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
——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.
——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
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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
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
The categories Estimated useful life (years) Residual value Annual depreciation rate
Houses and buildings 3—25 5.00% 31.67%-4.75%
Machineries 2—8 5.00% 47.50%-11.88%
Electronic equipment 2—8 5.00% 47.50%-11.88%
Vehicles 5—10 5.00% 19%-9.50%
(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
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
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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.
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.
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(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
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.
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
—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 10-20 years Estimated term of making profit
(3) Judgment basis of intangible assets with uncertain useful life
The Company doesn’t have intangible assets with uncertain useful life.
(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;
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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
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.
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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
(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
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
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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.
The special situation of not confirming the deferred income tax assets or deferred income tax liabilities including:
initial recognition of business reputation；other transactions or events except for the merger that will neither effect
the accounting profits nor the taxable amount (or the deductible losses) when occur.
(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
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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.
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
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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 paid
based on the difference of VAT on sales
deducting deductible input VAT. Tax on
VAT 17%
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
Business tax Taxable service income 5%
Urban maintenance and construction tax Taxable VAT and business tax 5%、7%
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
Enterprise income tax Province, Guangdong Provincial Bureau of 15%
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 3%
Local education expense 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 Electrical and Lighting Engineering Co., Ltd., Guangdong Fozhao Leasing Co., Ltd. and Foshan Lighting
Lamps and Lanterns Co., Ltd. whose enterprise income tax rate is 25%.
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
The subsidiary of the Company—Suzhou Mont Lighting Co., Ltd. is a high-tech enterprise and should calculate
and submit the corporate income tax according to 15% of the income tax payable.
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
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 approved 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.
—The subsidiary of the Company—Suzhou Mont Lighting Co., Ltd. is considered as a high-tech enterprise in
Aug. 2012, which won the “Certificate of High-tech Enterprise” with serial number GR201232000797 after
approved by Department of Science and Technology of Jiangsu Province, Department of Finance of Jiangsu
Province, Jiangsu Provincial Bureau of State Taxation and Jiangsu 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, it paid the corporate
income tax based on a tax rate of 15% within three years since 1 Jan. 2012.
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
Actual equity
amount Include after
The The
of Other d in Deducti deductin
Register proporti proporti Minorit
Subsidia Register Busines Busines investm essential consolid ble g the
Type ed on of on of y
ries ed place s nature s scope ents at investm ated minority differen
capital holding voting interest
the ent stateme interests ce that
shares rights
period-e nt loss of
nd minority
interests
exceed
equity
obtained
by
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
minority
sharehol
ders
Producti
on of
Foshan
ballast,
Chanshe
electron
ng
Limited ic
Electron Manufa 1,000,0 2,744,5 100.00 100.00
compan Foshan transfor Yes
ic cture 00 00.00 % %
y mers
Ballast
and
Co.,
electron
Ltd.
ic
igniters
Preparat
ion,
producti
on and
operatio
n of
lamps
and
Foshan lanterns,
Chanch electric
ang light
Electric Limited source
Manufa 42,000, 25,473,
Applian compan Foshan 72,782, products 70.00% 70.00% Yes
cture 000.00 949.07
ce y 944.00 and
(Gaomi accessor
ng) Co., ies,
Ltd. installati
on and
consulta
ncy
business
of
relevant
engineer
ing
Foshan Researc
Taimei Limited h,
Manufa 350,000 6,282,0
Times compan Foshan 500,000 develop 70.00% 70.00% Yes
cture .00 92.90
Lamps y .00 ment,
and producti
78
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Lantern on and
s Co., sales of
Ltd. lighting,
househo
ld
applianc
es and
accessor
ies and
other
lighting
products
R&D
and
producti
on of
electric
light
source
Foshan lamp
Electric products
al and and
Limited
Lighting Manufa relevant 50,077, 100.00 100.00
compan Foshan 50,000, Yes
Enginee cture electric 000.00 % %
y 000.00
ring engineer
Co., ing
Ltd. material
s, metal
material
s and
non-met
al
material
s
Producti
on and
Foshan
sales of
Electric
Limited electric
al &
liability Xinxian Manufa light 35,418, 100.00 100.00
Lighting 35,418, Yes
compan g cture source 439.76 % %
(Xinxia 439.76
y equipme
ng) Co.,
nt and
Ltd.
electric
light
79
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
source
products
, sales
of
accessor
ies of
electric
light
source,
electric
light
source
material
s,
electric
engineer
ing
material
s,
accessor
ies for
motor
vehicles
, lamps
and
compon
ents
Financi
ng leas
e busin
ess, lea
sing bu
Guangd
siness,
ong
consulta
Fozhao
Limited Financia ncy of
Financia 200,000 100.00 100.00
compan Foshan l 200,000 leasing Yes
l ,000.00 % %
y industry ,000.00 transacti
Leasing
on and
Co.,
guarante
Ltd.
e, leas
e transa
ction ad
visory a
nd guar
80
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
antee, n
ew ener
gy vehi
cles an
d major
compo
nents, fi
nancing
lease a
nd servi
ce of li
ghting
energy
saving
products
and en
gineerin
g
R&D,
develop
ment,
produce
; electric
light
source
products
, electric
light
source
Foshan
Limited equipme
lighting
liability Manufa nts, 15,000, 100.00 100.00
applianc Foshan 15,000, Yes
compan cture assorted 000.00 % %
e Co., 000.00
y equipme
Ltd.
nt of
light
source,
light
source
material
s, lamps
and
accessor
ies,
electric
81
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
material
s, motor
vehicle
accessor
ies,
househo
ld
electrica
l
applianc
es,
electrica
l
receptac
les,
switches
, fire
products
,
ventilati
on
equipme
nt, LED
products
;
domesti
c trade,
import
and
export
of goods
and
technolo
gies
Particulars about subsidiaries obtained by establishment and investment
—Foshan Chansheng Electronic Ballast Co., Ltd. was invested and established by the Company and Mr. Ma
Henglai and had set up and obtained license for business corporation on 26 Aug. The Company holds 75%
equities of the said company; therefore the said subsidiary was included into the scope of the consolidated
financial statements since date of the foundation.
On 24 Dec. 2013, the Company and Mr. Ma Henglai signed the equity transfer agreement. The Company
purchased 25% equity of Foshan Chansheng Electronic Ballast Co., Ltd. held by Mr. Ma Henglai. After the
purchasing, the Company held 100% equity of Foshan Chansheng Electronic Ballast Co., Ltd.
—Foshan Chanchang Electric Appliance (Gaoming) Co., Ltd., who is the Sino-foreign joint ventures invested and
established by the Company and Prosperity Lamps and Components Ltd, had obtained license for business
82
2014 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 000% equities of the said
company; therefore the said subsidiary was included into the scope of the consolidated financial statements since
date of foundation.
—Foshan Electrical and Lighting Engineering Co., Ltd. (its predecessor was “Foshan Lighting Lamps and
Lanterns Co., Ltd.”), 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 Hongbang 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.
On 25 Sep. 2009 and 19 Nov. 2010, the equity transfer agreement was signed between the Company and the
minority shareholders, in which the minority shareholders respectively transferred their equities of Foshan
Lighting Lamps and Lanterns Co., Ltd. to the Company. After transfer, the Company holds 100% equities of
Foshan Lighting Lamps and Lanterns Co., Ltd.
—Foshan Electrical & Lighting (Xinxiang) Co., Ltd. is a limited liability company 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. On 27 Aug. 2013, the 3rd Session of the 7th Board of Directors
reviewed and approved to change the name of Foshan Lighting Lamps and Lanterns Co., Ltd. to Foshan Electrical
and Lighting Engineering Co., Ltd.; at the same time invested RMB 2 million in cash, thus making the registered
capital of Foshan Electrical and Lighting Engineering Co., Ltd. of RMB 35,418,439.76 Yuan.
—Guangdong Fozhao Leasing Co., Ltd. is a limited liability company invested and established by the Company,
which had obtained 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.
—Foshan Lighting Lamps & Components Co., Ltd. is a limited liability company invested and established by the
Company with the registered capital of RMB 15 million, which had obtained its license for Business Corporation
on 8 May 2013. 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.
(2) Subsidiaries obtained by business combination under same control
Inapplicable
(3) Subsidiaries obtained by business combination not under same control
Unit: RMB Yuan
Subsidia Register Busines Register Busines Actual Other The The Include Minorit Deducti Balance
Type
ries ed place s nature ed s scope amount essential proporti proporti d in y ble of
83
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
capital of investm on of on of consolid interest minority parent
investm ent holding voting ated interests compan
ents at shares rights stateme y’s
the nt equity
period-e after
nd deductin
g the
differen
ce that
loss of
minority
interests
exceed
equity
obtained
by
minority
sharehol
ders
Producti
on of
energy-s
aving
photoele
ctric
source
products
Nanjing , lamps
Fozhao and
Lighting lanterns,
Compon Limited light
Manufa 41,683, 72,000, 100.00 100.00
ents Compan Nanjing source Yes
cture 200 000.00 % %
Manufa y equipme
cturing nts,
Co., illumina
Ltd. tion
engineer
ing;
technolo
gical
develop
ment of
energy-s
aving
84
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
and
producti
on of
relevant
compon
ents;
sales of
self-pro
duction
products
Licensin
g
project:
naught.
general
manage
ment
project:
develop
ment,
producti
on,
sales:
semicon
ductor
Suzhou
lighting
Mont Limited
Manufa applianc 24,360, 16,628,
Lighting Compan Suzhou 23,634, 50.50% 50.50% Yes
cture es, 000.00 352.68
Co., y 900.00
hardwar
Ltd.
e and
software
system
of drive
circuit
and
control
system;
(the
producti
on is
limited
to the
operatio
n of
85
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
branch
instituti
on)
lighting
engineer
ing
Design,
installati
on;
engaged
in the
semicon
ductor
lighting
devices,
applianc
e,
import
&
export
business
of
hardwar
e and
software
system
of drive
circuit
and
control
system
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.
—In accordance with the equity transfer agreement signed between the Company and Mr. Zhang Yingchun on 25
Apr. 2014, Mr. Zhang Yingchun transferred 34.09296% equities of Suzhou Mont Lighting Co., Ltd. to the
Company, and at the same time when purchased the 34.09296% equities of Suzhou Mont Lighting Co., Ltd., the
Company used its self-owned funds to increase the capital of Suzhou Mont Lighting Co., Ltd., which made the
86
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Company held 50.50% equities of Suzhou Mont Lighting Co., Ltd. The said subsidiary was included into the
scope of the consolidated financial statements since being increased the capital as well as expanded the shares.
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
The Company held the 10th meeting of the 7th Board of Directors, which reviewed and approved the Proposal on
the Acquisition of the Equity of Suzhou Mont Lighting Co., Ltd. and the Increase of the Capital and Expand of the
Shares (for details, please refer to the announcement disclosed on www.cninfo.com on 25 Apr. 2014, with the
announcement No.: 2014-019. After the completion of the acquisition of the equity and the expandation of the
shares, the Company held 50.50% equities of Suzhou Mont Lighting Co., Ltd. The said subsidiary was included
into the scope of the consolidated financial statements since the merger.
Comparing to last year, this year decreased none consolidation unit, because
Naught
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
Suzhou Mont Lighting Co., Ltd. 33,592,631.69 -1,568,271.61
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
Inapplicable
Other explanation of the newly included entities and the entities which are no more included in the consolidated
scope
5. Business combination under same control during the reporting period
Inapplicable
6. Business combination not under same control during the reporting period
Unit: RMB Yuan
Combined party Amount of goodwill Calculation method of goodwill
Recognize the positive balance between the
investment costs and the fair value of the
Suzhou Mont Lighting Co., Ltd. 6,603,743.83
identifiable net assets it obtains from the acquiree as
business reputation
Other explanation of the business combination not under same control
87
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Whether there is situation that realizes the corporation merger step by step through multiple transactions and gains
the control right during the reporting period
□Applicable √ Inapplicable
7. Subsidiaries reduced by selling equities without control right during the reporting period
□Applicable √ Inapplicable
8. The counter purchases in the reporting period
Inapplicable
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: -- -- 21,062.42 -- -- 6,626.15
RMB -- -- 21,062.42 -- -- 6,626.15
Bank deposit: -- -- 839,077,570.16 -- -- 891,208,601.93
RMB -- -- 831,162,884.92 -- -- 874,561,058.71
USD 1,284,092.56 6.1528 7,900,764.73 2,725,966.36 6.0969 16,619,944.30
EUR 1,658.27 8.3946 13,920.51 3,278.21 8.4189 27,598.92
Other monetary funds: -- -- 22,317,081.86 -- -- 6,460,596.14
RMB -- -- 22,317,081.86 -- -- 6,460,596.14
Total -- -- 861,415,714.44 -- -- 897,675,824.22
Special explanation shall be made for the accounts limited by being mortgaged, pledged or frozen, deposited
overseas or with potential collecting risks:
—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 of the security company.
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 998,152.00 3,903,197.90
profits and losses of the current period
88
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Total 998,152.00 3,903,197.90
(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 150,260,725.52 154,142,432.66
Commercial acceptance bill 81,631,620.97 0.00
Total 231,892,346.49 154,142,432.66
(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
Notes transferred to accounts receivable because drawer of the notes fails to execute the contract or agreement
Inapplicable
Notes that the Company had endorsed to other parties but had not expired
Unit: RMB Yuan
Drawer Date of draft Date of due Amount Remark
Guangzhou Kaichuang
Lighting Appliance Co., 6 Mar. 2014 5 Sep. 2014 3,000,000.00
Ltd.
Beijing Zhongtai Borun
8 Feb. 2014 28 Aug. 2014 2,500,000.00
Trading Co., Ltd.
Guangzhou Kaichuang
Lighting Appliance Co., 11 Feb. 2014 11 Aug. 2014 2,200,000.00
Ltd.
Guangzhou Kaichuang
Lighting Appliance Co., 8 Jan. 2014 7 Jul. 2014 2,000,000.00
Ltd.
Wenzhou Kaka Lighting
28 Feb. 2014 27 Aug. 2014 2,000,000.00
Appliance Co., Ltd.
Total -- -- 11,700,000.00 --
Note
Total of the notes that the Company had endorsed but had not expired was of RMB 78,234,139.01, of which the
amount of the top 5 was of RMB11,700,000.00.
89
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Explanation of the discounted or pledged commercial acceptance notes
—Up to 30 Jun. 2014, the Company had no any commercial acceptance notes not expired that had discounted or
pledged
—There was no any shareholder account receivable that held 5% (including 5%) of the voting shares among the
balance of the notes receivable at the period-end.
4. Dividends receivable
Inapplicable
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
1,304,200.33 3,146,680.29 3,143,915.08 1,306,965.54
deposit
Total 1,304,200.33 3,146,680.29 3,143,915.08 1,306,965.54
(2) Overdue interest
Inapplicable
(3) Notes to the interest receivable
Naught
6. Accounts receivable
(1) Accounts receivable listed by categories
Unit: RMB Yuan
Closing balance Opening balance
Category Book balance Bad debt provision Book balance Bad debt provision
Amount Proportion Amount Proportion Amount Proportion Amount Proportion
Accounts receivable for which bad debt provisions are made on the group basis
555,503,20 33,330,192. 415,124,1 24,907,451.2
Common business group 100.00% 6.00% 100.00% 6.00%
7.48 45 86.83 1
555,503,20 33,330,192. 415,124,1 24,907,451.2
Subtotal of the groups 100.00% 6.00% 100.00% 6.00%
7.48 45 86.83 1
555,503,20 33,330,192. 415,124,1 24,907,451.2
Total -- -- -- --
7.48 45 86.83 1
Notes to the category of the accounts receivable
Accounts receivable with significant single amount and individually withdrawn bad debt provision
□Applicable √Inapplicable
In the groups, accounts receivable adopting aging analysis method to withdraw bad debt provision:
√Applicable □Inapplicable
Unit: RMB Yuan
Closing balance Opening balance
Aging
Book balance Provision for bad Book balance Provision for bad
90
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Proportion debts Proportion debts
Amount Amount
Within 1 year
Of which: -- -- -- -- -- --
Within 1 year 517,540,777.69 93.17% 31,052,446.66 400,771,383.02 96.54% 24,046,282.98
Subtotal of within
517,540,777.69 93.17% 31,052,446.66 400,771,383.02 96.54% 24,046,282.98
1 year
1 to 2 years 29,606,290.83 5.33% 1,776,377.45 8,937,973.75 2.15% 536,278.43
2 to 3 years 7,791,124.53 1.40% 467,467.47 4,757,260.70 1.15% 285,435.64
Over 3 years 565,014.43 0.10% 33,900.87 657,569.36 0.16% 39,454.16
Total 555,503,207.48 -- 33,330,192.45 415,124,186.83 -- 24,907,451.21
In the group, other accounts receivable those provisions for bad debts by balance percentage:
□Applicable √Inapplicable
In the group, other accounts receivable those provisions for bad debts by other methods:
□Applicable √Inapplicable
Other closing individually insignificant but provisions for bad debts individually accounts receivable
□Applicable √Inapplicable
(2) Accounts receivable reversed or collected in the reporting period
Inapplicable
(3) The write-off accounts receivable
Inapplicable
(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
Youchang Lighting Appliance Co.,
7,167,204.39 430,032.26 9,415,621.92 564,937.32
Ltd.
Total 7,167,204.39 430,032.26 9,415,621.92 564,937.32
(5) Information of top 5 accounts receivable:
Unit: RMB Yuan
The relationship with the
Name of entity Amount Aging Proportion
Company
** COMPANY Non-related relationship 131,228,034.00 Within 1 year 23.62%
Osram ** Co., Ltd. Related relationship 12,500,123.26 Within 1 year 2.25%
Henan ** Electrical &
Non-related relationship 11,578,302.41 Within 1 year 2.08%
Lighting Co., Ltd.
Changzhou ** Electrical
Non-related relationship 11,539,351.50 Within 1 year 2.08%
& Lighting Co., Ltd.
Dongguan**Energy-savi
Non-related relationship 10,141,248.99 Within 1 year 1.83%
ng Technology Co., Ltd.
91
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Total -- 176,987,060.16 -- 31.86%
(6) The amounts due from related parties
Unit: RMB Yuan
The relationship with the
Name of entity Amount Proportion
Company
Corporate acting in concert and
Osram Asia Pacific Co., Ltd. 12,500,123.26 2.25%
holding 5 % of shares
Youchang Lighting Appliance Shareholders holding 5 % of
7,167,204.39 1.29%
Co., Ltd. shares
China OSRAM Lighting Corporate acting in concert and
4,399,450.55 0.79%
Appliance Co., Ltd. holding 5 % of shares
Youchang (Hangzhou) Company controlled by
1,759,816.13 0.32%
Lighting Appliance Co., Ltd related-party natural person
China Youchang Lighting Company controlled by
560,216.47 0.10%
Appliance Co., Ltd. related-party natural person
Total -- 26,386,810.80 4.75%
(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
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
debts debts
Category
Proportio Proportio Proportion
Proportio
Amount n Amount n Amount Amount
n
Other accounts receivable that provisions for bad debts by group
20,721,714.9 25,686,259.4
Common business group 100.00% 1,243,302.90 6.00% 100.00% 1,541,175.57 6.00%
5 5
20,721,714.9 25,686,259.4
Subtotal of group 100.00% 1,243,302.90 6.00% 100.00% 1,541,175.57 6.00%
5 5
20,721,714.9 25,686,259.4
Total -- 1,243,302.90 -- -- 1,541,175.57 --
5 5
Notes to the category of other accounts receivable
Other closing accounts receivable that is individually significant and provisions for bad debts individually
□ Applicable √ Inapplicable
In the group, other account receivable adopting aging of accounts to withdraw bad-debt provision
92
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
√Applicable □Inapplicable
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
Within 1 year
Of which:
Within 1 year 16,835,925.24 81.25% 1,010,155.51 22,226,990.87 86.53% 1,333,619.45
Subtotal of within 1 year 16,835,925.24 81.25% 1,010,155.51 22,226,990.87 86.53% 1,333,619.45
1 to 2 years 604,810.78 2.92% 36,288.65 146,433.33 0.57% 8,786.00
2 to 3 years 2,897,496.28 13.98% 173,849.78 2,897,030.66 11.28% 173,821.84
Over 3 years 383,482.65 1.85% 23,008.96 415,804.59 1.62% 24,948.28
Total 20,721,714.95 -- 1,243,302.90 25,686,259.45 -- 1,541,175.57
In the group, other account receivable adopting balance percentage to withdraw bad-debt provision
□ Applicable √ Inapplicable
In the group, other account receivable adopting other methods to withdraw bad-debt provision
□ Applicable √ Inapplicable
Other closing individually insignificant but provisions for bad debts individually accounts receivable
□ Applicable √ Inapplicable
(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
Relationship with the
Name of entity Amount Aging Proportion of the total
Company
Non-related party
Export rebates 9,115,730.34 Within 1 year 43.99%
relationship
Natural person of
***natural person non-related party 2,450,000.00 Within 1 year 11.82%
relationship
***Investment Co., Ltd. Non-related party 1,810,595.17 2 to 3 years 8.74%
93
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
relationship
Zhejiang ***Battery Non-related party
1,568,550.00 Within 1 year 7.57%
Manufacturing Co., Ltd, relationship
Huizhou *** Cable
Non-related party
Industrial Development 600,000.00 2 to 3 years 2.90%
relationship
Co., Ltd.
Total -- 15,544,875.51 -- 75.02%
(7) Information of the amounts due from related parties
Inapplicable
(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
(10) Government grants confirmed by the amounts receivable at the period-end
Inapplicable
8. Prepayment
(1) List by aging analysis:
Unit: RMB Yuan
Closing balance Opening balance
Aging
Amount Proportion Amount Proportion
Within 1 year 63,503,250.97 84.77% 21,791,005.82 90.59%
1 year to 2
1,610,795.23 2.15% 1,716,958.54 7.14%
years
2 years to 3
8,363,961.33 11.16% 48,253.97 0.20%
years
Over 3 years 1,434,381.04 1.91% 498,101.01 2.07%
Total 74,912,388.57 -- 24,054,319.34 --
Notes to the aging of the prepayments
(2) Information of the top 5 prepayments
Unit: RMB Yuan
Relationship with the
Name of entity Amount Aging Reason for unsettled
Company
Supplier of non-related Had not closed an
** Lighting 10,280,412.10 Within 1 year
party relationship account
Nanjing**Optoelectroni Supplier of non-related Had not closed an
7,745,172.00 2 to 3 years
c Co., Ltd. party relationship account
Zhejiang **light Supplier of non-related Had not closed an
7,082,600.00 Within 1 year
Technology Co., Ltd. party relationship account
Shangyu **Lighting Supplier of non-related 3,646,704.69 Within 1 year Had not closed an
94
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Materials Co., Ltd. party relationship account
Bo’ai ** Lighting Supplier of non-related Had not closed an
3,143,266.72 Within 1 year
Materials Co., Ltd. party relationship account
Total -- 31,898,155.51 -- --
Notes to the major units of the prepayments
(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 50,858,069.23 compared with the year-begin,
accounting to an increase of 211.43%, because of the increase of advanced goods payment.
—There was no shareholders prepayment held 5% (including 5%) among the balance of the prepayments at the
period-end.
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 94,606,775.45 3,095,668.34 91,511,107.11 70,269,329.70 3,170,835.38 67,098,494.32
Construction
193,305,916.45 2,093,157.77 191,212,758.68 121,442,224.71 2,102,946.36 119,339,278.35
contract assets
Inventory goods 301,578,350.34 1,691,281.81 299,887,068.53 335,274,523.00 6,158,637.61 329,115,885.39
Revolving materials 1,557,276.20 1,557,276.20 1,250,498.38 1,250,498.38
Total 591,048,318.44 6,880,107.92 584,168,210.52 528,236,575.79 11,432,419.35 516,804,156.44
(2) Impairment of inventories
Unit: RMB Yuan
Decrease
Category Opening balance Increase Closing balance
Switch back Written off
Raw materials 3,170,835.38 75,167.04 3,095,668.34
Construction contract
2,102,946.36 9,788.59 2,093,157.77
assets
Inventory goods 6,158,637.61 4,467,355.80 1,691,281.81
Total 11,432,419.35 4,552,311.43 6,880,107.92
(3) Details of provision for falling price of inventories
Proportion of the balance of
Reason of switch back the
Basis of provision for falling the inventories among the
Item provision for falling price of
price of inventories amount switched at the
inventories
period-end
95
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Whether the cost or the net Sold the inventories had
Raw materials 0.08%
realizable value is lower withdrawn for falling price
Whether the cost or the net Sold the inventories had
Construction contract assets 1.48%
realizable value is lower withdrawn for falling price
Whether the cost or the net Sold the inventories had
Inventory goods 0.00%
realizable value is lower withdrawn for falling price
Notes to the inventories
10. Other current assets
Unit: RMB Yuan
Item Closing balance Opening balance
Pending deduct VAT on purchase 9,008,826.87 9,408,829.51
Total 9,008,826.87 9,408,829.51
Notes of other current assets:
Other current assets apply pending deduct VAT on purchase.
11. Available-for-sale financial assets
(1) Information of available-for-sale financial assets
Unit: RMB Yuan
Item Closing fair value Opening fair value
Equity instruments available-for-sale 59,808,790.72 62,634,402.88
Total 59,808,790.72 62,634,402.88
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
—The Company obtained 23,546,768 shares of China Everbright Bank with fair value in period-end of RMB
59,808,790.72 , a decrease of RMB 2,825,612.16 comparing to the year-begin. The Company decreased deferred
income tax liability of RMB 423,841.82 and cut RMB2,401,770.34 of capital reserve.
(2) Long-term liability investment of available-for-sale financial assets
Inapplicable
(3) Impairment of available-for-sale financial assets
Inapplicable
(4) Changes of the impairment of available-for-sale financial assets
Inapplicable
(5) Explanation of the plummet or constantly decline of the fair value of the equity instruments
available-for-sale at the period-end
Inapplicable
12. Held-to-maturity investment
(1) Investment held-to-maturity
Inapplicable
(2) Investment held-to-maturity that sold but not due in the reporting period
Inapplicable
96
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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
Energy 38.00% 38.00% 27,273,997.21 400,000.00 26,873,997.21 0.00 -6,830,323.93
Exploitation
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 12,807,64 -2,595,52 10,212,11
Energy 38.00% 38.00% In accord
method 0.00 2.03 3.09 8.94
Exploitati
on Co.,
Ltd.
97
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Guangdo
ng
Fozhao
Equity 12,600,00 5,395,449 -5,395,44
Guoxuan 0.00
method 0.00 .79 9.79
Power
Energy
Co., Ltd.
Guangzh
ou
Zhujiang
Asset Cost 10,000,00 10,000,00 10,000,00 3,298,904
0.00 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
0.00 In accord
(Group) method .00 .00 .00 5.00% 5.00% .00
Co., Ltd.
Chengdu
Hongbo Cost 6,000,000 6,000,000 6,000,000
0.00 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., 0.00 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
0.00 In accord
Bank Co., method 0 0 0 5.00% 5.00%
Ltd.
Foshan
Fochen
Road
Cost 20,757,60 8,175,627 -499,999. 7,675,627
Develop 7.66% 7.66% In accord
method 0.00 .38 98 .40
ment
Company
Limited
Hefei
Guoxuan
High-tech Cost 160,000,0 160,000,0 160,000,0
0.00 14.84% 14.84% In accord
Power method 00.00 00.00 00.00
Energy
Co., Ltd.
Total -- 462,281,8 501,302,8 -8,490,97 492,811,8 -- -- -- 9,148,904
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
17.00 52.20 2.86 79.34 .81
(2) Information of the limitation on the capability to transfer capital to investee
Inapplicable
Notes to the long-term equity investment
—Revenue from Foshan Fochen Road Development Company Limited has been recorded into unified collection
and allocation system of road-bridge tolls. The Company regards such investments balances as right to earnings,
which shall be amortized within the remaining period of business of this company. In current period, an
investment cost of RMB 000 was amortized.
—The investee company Guangdong Fozhao Guoxuan Power Energy Co., Ltd. had completed the liquidation
procedures.
—On 15 Aug. 2014, the Company and Guangzhou Finance Holdings Group Co., Ltd. signed , according to which Guangzhou Finance Holdings Group Co., Ltd. agreed to acquire the
15.38% stake of Guangzhou Pearl River Asset Management Co., Ltd. held by the Company at the price of RMB
8.52 million. Upon completion of this equity transaction, the Company no longer holds any equity in Guangzhou
Pearl River Asset Management Co., Ltd.
16. Investment property
(1) Investment property calculated by cost
Inapplicable
(2) Investment property calculated by fair value
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 1,489,457,684.10 22,161,975.81 10,801,534.81 1,500,818,125.10
Including: Property and
543,991,872.91 838,117.80 544,829,990.71
building
Machineries 907,867,064.24 16,033,761.53 9,431,362.51 914,469,463.26
Vehicles 19,532,490.54 959,887.87 20,492,378.41
Other equipment 18,066,256.41 4,330,208.61 1,370,172.30 21,026,292.72
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
1,012,463,187.90 40,950,477.19 8,417,621.45 1,044,996,043.64
depreciation
Including: Property and
316,586,563.58 10,864,910.77 327,451,474.35
building
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Machineries 672,113,058.11 20,710,549.49 7,093,837.54 685,729,770.06
Vehicles 12,995,943.08 762,449.54 13,758,392.62
Other equipment 10,767,623.13 8,612,567.39 1,323,783.91 18,056,406.61
Opening book Closing balance in
-- --
balance current period
III. The net book value of
476,994,496.20 -- 455,822,081.46
fixed assets
Including: Property and
227,405,309.33 -- 217,378,516.36
building
Machineries 235,754,006.13 -- 223,412,288.04
Vehicles 6,536,547.46 -- 6,733,985.79
Other equipment 7,298,633.28 -- 8,297,291.27
IV. Total impairment
4,254,006.36 -- 4,254,006.36
provision
Machineries 4,254,006.36 -- 4,254,006.36
Other equipment --
V. Total book value of fixed
472,740,489.84 -- 451,568,075.10
assets
Including: Property and
227,405,309.33 -- 217,378,516.36
building
Machineries 231,499,999.77 -- 224,485,686.84
Vehicles 6,536,547.46 -- 6,733,985.79
Other equipment 7,298,633.28 -- 2,969,886.11
Depreciation amount of this reporting period was RMB 40,950,477.19 and RMB 14,470,635.42was transferred into fixed assets from
construction project.
(2) Temporary idle fixed assets
Unit: RMB Yuan
Accumulated Impairment
Item Original book value Net book value Remark
depreciation provision
Machineries 32,848,305.01 28,241,199.26 4,254,006.36 353,099.39
(3) Fixed assets rented in by financial leasing
Inapplicable
(4) Fixed assets leased out by operating leasing
Inapplicable
(5) Fixed assets held for sale at the period-end
Inapplicable
(6) Information of fixed assets failed to accomplish certification of property
Inapplicable
100
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Notes to the fixed assets
—Up to 30 Jun. 2014, there was no any fixed asset rented in by financial leasing or held for sale of the Company.
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 Industrial Park 12,247,062.64 12,247,062.64 12,247,062.64 12,247,062.64
Fuwan Industrial Park Lithium
Battery Manufacturing 9,897,936.70 9,897,936.70 9,763,878.38 9,763,878.38
Workshop
H7 Automatic production
9,429,749.02 9,429,749.02
equipment
Third district hard glass
8,149,794.29 3,695,984.29 4,453,810.00 8,149,794.29 3,695,984.29 4,453,810.00
furnace
LED No.2 workshop 4,118,513.64 4,118,513.64 3,804,487.14 3,804,487.14
6#、7#、8# furnace 11,040,134.04 11,040,134.04 2,835,008.92 2,835,008.92
Home-built equipments 10,680,378.80 10,680,378.80 5,525,464.41 5,525,464.41
Transformation equipments 16,578,886.03 16,578,886.03 13,331,250.82 13,331,250.82
Other outsourcing equipments 25,405,501.64 25,405,501.64 13,653,761.23 13,653,761.23
Total 98,118,207.78 3,695,984.29 94,422,223.49 78,740,456.85 3,695,984.29 75,044,472.56
(2) Significant changes in construction in progress
Unit: RMB Yuan
Includin
Project g:
Transferr Capitaliz
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 14,800,0 12,247,0 period of 12,247,0
82.75% ed
Industria 00.00 62.64 the 62.64
capital
l Park project
Fuwan
Industria
Later
l Park Self-own
10,380,0 9,763,87 134,058. period of 9,897,93
Lithium 95.36% ed
00.00 8.38 32 the 6.70
Battery capital
project
Manufac
turing
101
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Worksho
p
H7
Automat
ic Project Self-own
10,570,0 9,429,74 406,650. 9,836,39
producti 93.06% completi ed 0.00
00.00 9.02 83 9.85
on on capital
equipme
nts
Project
Third
ceased
district Self-own
8,600,00 8,149,79 and had 8,149,79
hard 94.77% ed
0.00 4.29 made 4.29
glass capital
impairm
furnace
ent
Middle
6#, 7#, Self-own
18,610,0 2,835,00 8,205,12 period of 11,040,1
8# 59.32% ed
00.00 8.92 5.12 the 34.04
furnace capital
project
LED Later
Self-own
No.2 4,230,00 3,804,48 314,026. period of 4,118,51
97.36% ed
worksho 0.00 7.14 50 the 3.64
capital
p project
Later
Home-b Self-own
12,603,0 5,525,46 5,415,00 260,092. period of 10,680,3
uilt equi 86.81% ed
00.00 4.41 6.51 12 the 78.80
pments capital
project
Transfor Later
Self-own
mation e 23,737,0 13,331,2 5,835,29 2,587,65 period of 16,578,8
80.75% ed
quipmen 00.00 50.82 4.14 8.93 the 86.03
capital
ts project
Middle
Self-own
37,184,0 13,653,7 13,538,2 1,786,48 period of 25,405,5
Other 73.13% ed
00.00 61.23 24.93 4.52 the 01.64
capital
project
140,714, 78,740,4 33,848,3 14,470,6 98,118,2
Total -- -- -- --
000.00 56.85 86.35 35.42 07.78
Notes to the changes in construction in progress
(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
Third district hard
3,695,984.29 3,695,984.29
glass furnace
102
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Total 3,695,984.29 3,695,984.29 --
(4) Information of procedures of significant construction in progress
Item Project process Note
Fuwan Lighting Industrial Park Later period of the project
Fuwan Industrial Park Lithium Battery
Later period of the project
Manufacturing Workshop
H7 Automatic production equipments Project completion
Third district hard glass furnace Project ceased and had made impairment
6#, 7#, 8# furnace Middle period of the project
LED No.2 workshop Later period of the project
Home-built equipments Later period of the project
Transformation equipments Later period of the project
Other Middle period of the project
(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.
19. Engineering materials
Inapplicable
20. Clearance of fixed assets
Inapplicable
21. Productive biological assets
(1) Calculate by cost
Inapplicable
(2) Calculate by fair value
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 213,556,603.55 20,520,229.92 234,076,833.47
Of which: land use right 211,719,938.60 211,719,938.60
Software use right 1,636,664.95 19,529.92 1,656,194.87
Patent right 200,000.00 20,500,700.00 20,700,700.00
II. Total accrued
40,322,004.82 2,614,544.78 42,936,549.60
amortization
Of which: land use right 40,070,782.26 1,956,418.58 42,027,200.84
103
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Software use right 54,555.50 168,328.26 222,883.76
Patent right 196,667.06 489,797.94 686,465.00
III. Total net book value of
173,234,598.73 17,905,685.14 191,140,283.87
intangible assets
Of which: land use right 171,649,156.34 -1,956,418.58 169,692,737.76
Software use right 1,582,109.45 -148,798.34 1,433,311.11
Patent right 3,332.94 20,010,902.06 20,014,235.00
Of which: land use right
Software use right
Patent right
Total book value of
173,234,598.73 17,905,685.14 191,140,283.87
intangible assets
Of which: land use right 171,649,156.34 -1,956,418.58 169,692,737.76
Software use right 1,582,109.45 -148,798.34 1,433,311.11
Patent right 3,332.94 20,010,902.06 20,014,235.00
Amortization was of RMB 2,614,544.78 in the reporting period.
(2) Development project spending
Inapplicable
24. Goodwill
Unit: RMB Yuan
Provision for
Investee or events formed the
Opening balance Increase Decrease Closing balance impairment at
goodwill
the period-end
Suzhou Mont Lighting Co., Ltd. 0.00 6,603,743.83 0.00 6,603,743.83 0.00
Total 0.00 6,603,743.83 0.00 6,603,743.83 0.00
Notes to the impairment test method and withdraw method of provision for impairment of goodwill
On 25 Apr. 2014, the Company signed the agreement on the acquisition and the expandation of the capital and
shares. The Company gained 50.50% equities of Suzhou Mont Lighting Co., Ltd. with the investment amount of
RMB 24,360,000.00. The Company enjoyed the fair value of the net identifiable assets on the acquisition date of
Suzhou Mont Lighting Co., Ltd. of RMB 17,756,256.17, of which the difference between the investment costs
were confirmed as goodwill. After the equity acquisition, Suzhou Mont Lighting Co., Ltd. was renewed as the
controlled combining party.
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 7,229,205.63 8,459,053.84
104
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Deductible losses 2,240,937.40 2,240,937.40
Depreciation of fixed assets 11,987,464.21 11,973,373.90
Payroll payable 7,598,556.28 6,086,781.28
Changes in fair value of trading financial asse
0.00 164,520.32
ts
Subtotal 29,056,163.52 28,924,666.74
Deferred income tax liabilities:
Fair value changes on available-for-sale financial
4,467,497.14 4,891,338.97
assets that recognized into capital reserves
Changes in fair value of trading financial assets 2,843.15 0.00
Subtotal 4,470,340.29 4,891,338.97
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 46,853,584.02 54,978,452.59
Deductible losses 8,963,749.61 8,963,749.61
Depreciation of fixed assets 79,782,273.70 79,688,338.30
Payroll payable 50,657,041.85 40,578,541.85
Changes in fair value of trading financial assets -18,954.33 1,096,802.10
Subtotal 186,237,694.85 185,305,884.45
Deductible temporary differences
Fair value changes on available-for-sale financial
29,783,314.28 32,608,926.44
assets
Subtotal 29,783,314.28 32,608,926.44
(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 or taxable temporar Deferred income tax
or taxable temporar
assets and liabilities y differences at the assets and liabilities
Item y differences at the
at the end of the end of the period at the opening of the
opening of the per
period period
iod
Deferred income tax assets 29,056,163.52 28,924,666.74
Deferred income tax liabilities 4,470,340.29 4,891,338.97
List of the mutual deduction of deferred income tax assets and deferred income tax liabilities
Notes to the deferred income tax assets and deferred income tax liabilities
105
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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 26,448,626.78 8,025,505.65 34,474,132.43
II. Provision for inventory
11,432,419.35 4,552,311.43 6,880,107.92
falling price
III. Impairment provision of
9,148,904.81 9,148,904.81
long-term equity investment
IV. Impairment provision of
4,254,006.36 4,254,006.36
fixed assets
V. Impairment provision of
3,695,984.29 3,695,984.29
construction in progress
VI. Provision of goodwill
0.00
impairment
Total 54,979,941.59 8,025,505.65 4,552,311.43 58,453,135.81
Notes:
—Assets impairment increased is due to provision for accounts receivable and other bad debts preparation of
accounts receivable.
—Assets impairment decreased is due to partly of the products which had withdrawn for falling price had realized
the sales.
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 9,674,122.41 5,638,494.81
Total 51,429,822.41 47,394,194.81
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
(1) Category of short-term loans
Inapplicable
(2) Short-term loans due but not repaid
Inapplicable
30. Trading financial liabilities
Inapplicable
106
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
31. Notes payable
Inapplicable
32. Accounts payable
(1) Information
Unit: RMB Yuan
Item Closing balance Opening balance
Accounts payable 506,823,920.43 270,968,881.44
Total 506,823,920.43 270,968,881.44
(2) The accounts payable to shareholders with more than 5% (including 5%) of the voting shares of the
Company
Unit: RMB Yuan
Name of company Closing balance Opening balance
Youchang Lighting Equipment Co., Ltd. 1,700,721.98 573,328.59
(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 57,304,411.41 45,620,298.34
Total 57,304,411.41 45,620,298.34
(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
—The balance of the advance at the period-end was all goods in advance and there was no advance aged more
than 3 years.
—The advance at the period-end increased RMB 11,684,113.07 over the beginning of the period with the increase
rate of 25.61%, which was mainly due to the corresponding increase of the dealer’s payments in advance as the
business scale of LED expanded and the promotion and marketing of the strengthening of LED products.
—There was no account of shareholders held 5% (including 5%) of the voting shares among the balance of the
advance at the period-end.
34. Payroll payable
Unit: RMB Yuan
Item Opening balance Increase in this period Decrease in this period Closing balance
I. Salary, bonus,
65,284.37 204,443,988.56 203,776,522.06 732,750.87
allowance, subsidy
II. Employee welfare 9,230,770.15 9,230,770.15
III. Social insurance 29,511,683.07 29,511,683.07
Including: Medical
10,056,590.96 10,056,590.96
insurance premiums
Basic endowment i 15,633,918.07 15,633,918.07
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
nsurance
Unemployment
821,582.79 821,582.79
insurance
Work-related injury
1,494,635.49 1,494,635.49
insurance
Maternity insurance 1,504,955.76 1,504,955.76
IV. Housing fund 1,834,570.38 1,834,570.38
VI. Others 60,571,456.48 12,516,579.89 19,109,370.92 53,978,665.45
Equity incentive fu
60,184,828.68 10,113,820.00 16,748,943.41 53,549,705.27
nd
Labour union expen
diture and personne 386,627.80 2,402,759.89 2,360,427.51 428,960.18
l education fund
Total 60,636,740.85 257,537,592.05 263,462,916.58 54,711,416.32
The amounts in arrears of payroll payable are RMB 0.
The labor union budget and employee education budget is RMB 2,402,759.89, and the non-monetary benefits are RMB 0, as 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 6,288,276.88 4,364,194.29
Business tax 91,513.94 179,348.08
Corporate income tax 28,530,656.22 7,830,829.28
Personal income tax 5,348,252.10 392,987.55
Urban maintenance and construction tax 707,097.08 1,063,705.63
Other taxes and fares 3,490,408.99 5,740,056.95
Total 44,456,205.21 19,571,121.78
36. Interest payable
Inapplicable
37. Dividends payable
Inapplicable
38. Other accounts payable
(1) Information
Unit: RMB Yuan
Item Closing balance Opening balance
Other accounts payable 25,343,778.09 35,613,570.14
Total 25,343,778.09 35,613,570.14
(2) Other accounts payable from shareholders with more than 5% (including 5%) of the voting shares of
the Company
Inapplicable
108
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(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.
(4) Other large amount accounts payable should explain the content
Inapplicable
39. Estimated liabilities
Inapplicable
40. Non-current liabilities due within 1 year
(1) Non-current liabilities due within 1 year
Inapplicable
(2) Long-term loans due within 1 year
Inapplicable
(3) Bonds payable due within 1 year
Inapplicable
(4) Long-term accounts payable due within 1 year
Inapplicable
41. Other current liabilities
Inapplicable
42. Long-term loans
(1) Category of long-term loans
Inapplicable
(2) Long-term borrowings of top 5
Inapplicable
43. Bonds payable
Inapplicable
44. Long-term payable
(1) Long-term accounts payable of top 5
Inapplicable
(2) List of accrued financial lease outlay of the long-term accounts payable
Inapplicable
45. Specific payable
Inapplicable
109
2014 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
165,109.00 113,109.00
profits
Governmental subsidy related to assets. 10,817,441.93 10,979,441.73
Total 10,982,550.93 11,092,550.73
Liabilities items involved with governmental grants
Unit: RMB Yuan
Amount of
Amount included
newly increased Closing Related to
Liabilities items Opening balance in non-operating Other changes
grants of the amount assets/profits
income
reporting period
Incandescent lamps
convert electronic
9,852,274.95 9,852,274.95 Related to assets
energy saving lamps
items
Production line of
energy-saving
fluorescent lamps of 929,999.96 77,499.82 852,500.14 Related to assets
50 million annual
output
Furnace
desulphurization and
197,166.82 84,499.98 112,666.84 Related to assets
dust removal system
items
Non-electrolytic
capacitor drive power 113,109.00 52,000.00 165,109.00 Related to profits
supply technology
Total 11,092,550.73 52,000.00 161,999.80 10,982,550.93 --
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
110
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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 34,940,959.92 2,401,770.34 32,539,189.58
Total 617,594,107.21 2,401,770.34 615,192,336.87
Notes:
—On 18 Apr. 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 59,808,790.72,
decreased in an amount of RMB 2,825,612.16 when compared to the opening fair value. According to the relevant
rules, the Company had adjusted and reduced the deferred income tax liabilities of RMB 423,841.82, and the
balance of RMB 2,401,770.34 would be decreased into capital surplus.
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
671,929,537.57 --
adjustments
Opening balance of retained profits after
671,929,537.57 --
adjustments
Add: Net profit attributable to owners of the
188,959,139.45 --
Company
Dividend of common stock payable 156,570,199.20
Closing retained profits 704,318,477.82 --
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) RMB0.00 opening retained profits was affected by changes on accounting policies.
3) RMB0.00 opening retained profits was affected by correction of significant accounting errors.
4) RMB0.00 opening retained profits was affected by changes in combination scope arising from same control.
5) RMB0.00 opening retained profits was affected totally by other adjustments.
111
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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 1,527,520,198.14 1,182,317,613.69
Other operating income 15,538,559.89 25,942,832.37
Cost of sales 1,156,217,280.15 925,675,209.12
(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 1,527,520,198.14 1,144,349,961.56 1,182,317,613.69 909,136,643.67
Total 1,527,520,198.14 1,144,349,961.56 1,182,317,613.69 909,136,643.67
(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 1,527,520,198.14 1,144,349,961.56 1,182,317,613.69 909,136,643.67
Among: traditional lighting
1,106,737,704.75 809,263,104.37 26.88% 1.82% -2.12
products
LED lighting products 420,782,493.39 335,086,857.19 20.37% 341.10% 306.99
Total 1,527,520,198.14 1,144,349,961.56 1,182,317,613.69 909,136,643.67
(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
Domestic sales 1,036,705,528.94 815,542,735.07 854,494,345.56 669,777,009.95
Export sales 490,814,669.20 328,807,226.49 327,823,268.13 239,359,633.72
Total 1,527,520,198.14 1,144,349,961.56 1,182,317,613.69 909,136,643.67
(5) The revenue of sales from the top five customers
Unit: RMB Yuan
Customer Main business revenue Proportion of total business revenue
** COMPANY 183,203,928.16 11.87%
** ELECTRIC COMPANY 26,175,521.25 1.70%
Guangzhou ** Lighting Appliance
20,154,129.33 1.31%
Co., Ltd.
Shenzhen ** Electric Appliance
19,876,497.63 1.29%
Co., Ltd.
PROSPERITY LAMPS &
19,860,345.46 1.29%
COMPONENTS LIMITED
Total 269,270,421.83 17.46%
55. Contract project incomes
Inapplicable
112
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
56. Business tax and surcharges
Unit: RMB Yuan
Item Reporting period Same period of last year Calculation and payment standard
Business tax 714,498.78 409,637.15 5% of taxable income
Urban maintenance and construction
8,389,063.00 7,714,158.28 7% of turnover tax
tax
Education surtax 6,026,392.52 5,573,835.89 3-5% of turnover tax
Total 15,129,954.30 13,697,631.32 --
57. Selling expenses
Unit: RMB Yuan
Item Reporting period Same period of last year
Traffic expenses 23,683,251.76 21,153,629.91
Energy saving product promotion services
3,088,819.85 832,380.00
expenses
Worker wages and salaries 19,829,713.47 12,193,767.40
Advertising, business costs 5,850,819.24 4,688,044.76
Commission 0.00 1,127,337.29
Travel expenses 1,349,726.52 1,423,080.88
Promotional gifts, distribution and meeting
4,402,514.31 561,786.30
expenses
Street light project maintenance expenses 2,711,494.40 0.00
Other 2,051,573.38 2,451,213.54
Total 62,967,912.93 44,431,240.08
58. Administration expenses
Unit: RMB Yuan
Item Reporting period Same period of last year
The worker wages and salaries 31,108,589.63 18,374,115.70
Depreciation expenses 10,463,236.40 7,942,950.50
Tax fees 8,327,329.62 5,905,536.61
Administrative expenses 3,279,753.58 2,924,002.32
Depreciation on intangible assets 2,610,636.23 1,796,063.59
R&D expenses 3,604,623.15 1,944,808.32
Testing expense 886,083.99 849,289.88
Others 44,215,086.85 38,195,634.61
Total 104,495,339.45 77,932,401.53
59. Financial expenses
Unit: RMB Yuan
113
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Item Reporting period Same period of last year
Interest expenses 0.00 0.00
Less: Interest received 7,550,981.32 8,345,219.86
Exchange losses 1,194,090.82 3,317,882.75
Others 623,542.87 1,063,519.22
Total -5,733,347.63 -3,963,817.89
60. Gains and losses from changes in fair value
Unit: RMB Yuan
Source Reporting period Same period of last year
Trading financial assets 1,115,756.46 -69,701.45
Total 1,115,756.46 -69,701.45
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
21,442,835.22 0.00
cost method
Long-term equity investment income accounted by
-2,612,635.56 -2,310,773.80
equity method
Investment income gained from disposal of tradable
-714,793.88 0.00
financial assets
Investment income gained from available-for-sale
0.00 1,365,712.54
financial assets
Total 18,115,405.78 -945,061.26
(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
Received dividend bonus money of the
Xiamen Bank Inc. 21,942,835.20 0.00
investee in the reporting period
Conducted amortization to the investee
Foshan Fochen Highway Development according to Foshan bridge tolls
-499,999.98 0.00
Co., Ltd. unified collection distribution system
in the reporting period
Total 21,442,835.22 0.00 --
(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
-2,595,523.09 -1,957,819.93 Loss increase in this period
Development Co., Ltd.
114
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Guangdong Fozhao Guoxuan Power
-17,112.47 -352,953.87 losses of cancellation liquidation
Battery Co., Ltd.
Total -2,612,635.56 -2,310,773.80 --
62. Impairment losses
Unit: RMB Yuan
Item Reporting period Same period of last year
I. Loss on bad debts 8,025,505.65 16,288,405.88
II. Loss on inventory valuation -4,552,311.43 1,565,515.32
Total 3,473,194.22 17,853,921.20
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
Including：Gains from disposal of fixed
3,458.00 10,337,873.72 3,458.00
assets
Gains from disposal of intangible assets 0.00 6,448,625.49
Government grants 2,603,201.80 54,481,517.78 323,499.80
Others 687,707.26 412,143.18 687,707.26
Total 3,294,367.06 71,680,160.17 1,014,665.06
（2）Government grants recorded into current profits and losses
Unit: RMB Yuan
Whether belong to
Related to assets/ related
Item Reporting period Same period of last year non-current profits and
to income
losses
Financial subsidies of
efficient lighting
2,279,702.00 54,179,017.80 Related to income No
products promoting
project
Foshan project funding
of supporting relevant
0.00 200,000.00
economic development
items
Incentive subsidy funds
of No.36 groups of ea
13,000.00 18,000.00 Related to income Yes
rly retirement incentive
of yellow label car
Furnace desulphurizatio
84,499.98 84,499.98 Related to income Yes
n system items
Annual output of 50
77,499.82 0.00 Related to income Yes
million energy-saving
115
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
fluorescent lamp
production line project
Special funds
116,000.00 0.00 Related to income Yes
(foreign-related services)
Other scattered
32,500.00 0.00 Related to income Yes
government subsidies
Total 2,603,201.80 54,481,517.78 -- --
—Government subsidy on energy saving products was the central government subsidy that the Company obtained
for promoting national efficient lighting products. The Company respectively won the bidding of National
Efficient Lighting Products Promotion Project and Fiscal Subsidy Promotion Project of 2012/2013 Annual
Semiconductor Lighting Products in Jul. 2012 and Oct. 2012. According to the spirit of documents of the Notice
of The State Council Printed and Distributed about Comprehensive Work Plan of Energy Saving and Emission
Reduction (GF [2007] No. 15) and Efficient Lighting Products Promotion Subsidy Money Management Interim
Measures (CJ [2007] No. 1027) issued by Ministry of Finance and NDRC, the Central Government sets up
special fund, with the method of indirect subsidy to terminal customers, gives subsidy to bid-winning enterprises,
and the bid-winning enterprises sell to the terminal customers at the price that the bid-winning enterprises
according to the winning agreement supply price minus fiscal subsidy, that is the Company’s promotion of
efficient lighting products sale income is divided into two parts: income obtains from the payment of the
terminal users and payment from the fiscal subsidy. Terminal users include bulk users and urban and rural
resident users. Each efficient lighting product of bulk users, the Central Government gives subsidy according to
30% of the winning agreement supply price, each efficient lighting product of urban and rural resident users, the
Central Government gives subsidy according to 50% of the winning agreement supply price. According to the
stipulations of Announcement on the Related Issues of Vat of Central Government Subsidy issued by State
Administration of Taxation and the interpretation of Announcement on the Related Issues of Vat of Central
Government Subsidy issued by General Office of State Administration of Taxation, for the part obtained from
Central Government Subsidy, in line with the new regulations of State Administration of Taxation, which do not
belong to the VAT taxable income. Thus, the Company will record the 2013 fiscal subsidy for efficient lighting
products into non-operating income excluding the payment of VAT.
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 109,843.02 908,276.06 109,843.02
Including: Loss on disposal of fixed assets 109,843.02 908,276.06 109,843.02
External donation 0.00 5,600,000.00
Others 5,612.46 4,192,162.77 5,612.46
Total 115,455.48 10,700,438.83 115,455.48
Note:
65. Income tax expense
Unit: RMB Yuan
116
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Item Reporting period Same period of last year
Current income tax expense accounted by tax and relevant
42,878,291.11 37,895,236.07
regulations
Adjustment of income tax -1,188,427.16 1,719,106.18
Total 41,689,863.95 39,614,342.25
66. Calculation procedure of basic earnings per share and diluted earnings per share
Item Reporting period Same period of last year
Basic EPS 0.1931 0.1564
Diluted EPS 0.1931 0.1564
—The process of calculating return on equity weighted average is listed as followed:
Item No 2014 2013
Numerator
Net profit attributable to the Company’s common
1 188,959,139.45 153,047,291.37
shareholders
Net profit attributable to the Parent Company’s
common shareholders after deducting income tax 2 6,383,467.42
19,734,912.82
influence
Net profit attributable to the Company’s common
3=1-2 169,224,226.63 146,663,823.95
shareholders after deducting income tax influence
Denominator:
Opening total number of shares 4 978,563,745.00 978,563,745.00
Shares increased by capital reserve converting to
5
shares or stock dividend distribution
Shares increased by the issuance of new shares or
6
bonds converting to shares in the reporting period
Months from next month of the issuance of new
shares or bonds converting to shares increased to 7
the end of reporting period
Shares decreased by repurchase in the reporting
8
period
Shares decreased by shrinking stock in the
9
reporting period
Months from next month of shares decreased to
10
the end of reporting period
Months in the reporting period 11 6 6
The weighted average of common shares
12=4+5+6*7/11-8*10/11-9 978,563,745.00 978,563,745.00
outstanding
Basic EPS(Net profit attributable to equity
13=1/12 0.1931 0.1564
shareholders)
117
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Basic EPS(Attributable to common shareholders,
net profit after deducting non-recurring gains and 14=3/12 0.1729 0.1499
losses）
—The process of calculating diluted EPS
The process of calculating diluted EPS is the same as basic 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 -2,825,612.16 -4,473,885.92
Less: Effects on income tax generating from available-for-sale
-423,841.82 -671,082.88
financial assets
Subtotal -2,401,770.34 -3,802,803.04
Total -2,401,770.34 -3,802,803.04
Note:
68. Notes of Cash Flow Statement
(1) Other cash received relevant to operating activities
Unit: RMB Yuan
Item Amount
Interests on deposit 7,586,039.03
Scrap revenues 3,623,492.20
Property and rental income 862,652.72
Interest on deposits 389,010.50
Others 1,902,829.60
Total 14,364,024.05
Note:
(2) Other cash paid relevant to operating activities
Unit: RMB Yuan
Item Amount
Transportation fees 28,771,464.91
Advertising fees 5,864,699.17
Audit fees, legal fees, appraisal fees, inspection fees 5,139,087.70
Office expenses 4,145,450.36
Spare parts, maintenances, and service charges 3,429,401.85
Margins 196,977.59
Travel expenses 2,619,111.61
Commissions 528,054.46
Energy-saving promotion fees 2,274,633.66
Street light project construction and maintenance fees 5,955,954.21
Land rent and management fees 2,938,578.35
Trademark fee and patent fee 2,753,625.50
Others 7,220,228.47
118
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
合计 71,837,267.84
Note:
(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
Unit: RMB Yuan
Item Amount
Bank loan interest 2,452.04
Total 2,452.04
Note:
(6) Other cash paid relevant to financing activities
Unit: RMB Yuan
Item Amount
Repay the bank loan 2,000,000.00
Pay the bank loan interest 34,300.00
Total 2,034,300.00
Note:
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
1. Reconciliation of net profit to net cash flows generated
-- --
from operations：
Net profit 187,228,634.48 152,984,477.08
Add: Provision for assets impairments 3,473,194.22 17,853,921.20
Depreciation of fixed assets, oil-gas assets and productive
40,950,477.19 43,344,540.90
biological assets
Amortization of intangible assets 2,614,544.78 1,796,063.59
Losses/gains on disposal of property, intangible asset and
-3,458.00 -15,475,353.96
other long-term assets (gains: negative)
Losses/gains on scrapped of fixed assets (gains:
109,843.02 908,276.06
negative)
Losses/gains from variation of fair value (gains: negative) -1,115,756.46 69,701.45
Financial cost (income: negative) 1,773,859.83 2,050,576.88
Investment loss (gains: negative) -18,115,405.78 945,061.26
Decrease in deferred tax assets (increase: negative) -131,496.78 4,134,202.52
Increase in deferred tax liabilities (decrease: negative) -67,364,054.08 -65,284,386.64
Decrease in inventory (increase: negative) -207,787,480.72 -243,976,257.07
Decrease in accounts receivable from operating activities 196,808,865.07 112,361,429.34
119
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(increase: negative)
Net cash flows generated from operating activities 138,441,766.77 11,712,252.61
2. Significant investing and financing activities without
-- --
involvement of cash receipts and payments
3. Change of cash and cash equivalent: -- --
Closing balance of Cash 861,415,714.44 736,404,066.66
Less: opening balance of cash 897,675,824.22 985,450,890.74
The net increase in cash and cash equivalents -36,260,109.78 -249,046,824.08
（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:
Net cash paid from acquisition of subsidiaries and other
11,512,886.32
operation entities
II. Relevant information on disposal of subsidiaries and
-- --
other operation entities
（3）Composition of cash and cash equivalents
Unit: RMB Yuan
Item Closing balance Opening balance
I. Cash 861,415,714.44 897,675,824.22
Including: Cash on hand 21,062.42 11,528.77
Bank deposit on demand 839,077,570.16 720,577,207.59
Other monetary funds on demand 22,317,081.86 15,815,330.30
II. Closing balance of cash and cash equivalents 861,415,714.44 897,675,824.22
Note:
70. Notes to statement of changes in owners’ equity
Inapplicable
VIII. Accounting treatment of assets securitization business
1. Note to trading arrangement, accounting treatment and bankruptcy isolation terms of assets
securitization business
Inapplicable
2. Particulars about the special purpose entity of the Company had no control but actually take the risk
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
Full name Type Business Registered Legal Business Registered Percentage Percentage Organizatio
120
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
type place representati nature capital (Ten of of voting n code
ve thousand Shareholdin right (%)
Yuan) g (%)
Manufacturi
ng
Foshan electronic
Chansheng 64 Fenjiang ballasts,
Controlled Limited
Electronic North Road, Pan Jie electronic 100 100.00% 100.00% 75207544-3
subsidiary company
Ballast Co., Foshan transformer
Ltd. s and
electronic
triggers.
Preparations
, production
and
operation of
lamps,
Foshan Cangjiang electric
Chanchang Industrial light source
Electric Controlled Limited Park, products
Pan Jie 7278 70.00% 70.00% 77920377-5
Appliance subsidiary company Gaoming and
(Gaoming) District, accessories,
Co., Ltd. Foshan installation
and related
engineering
and
consulting
business.
Research,
developmen
t,
production
Foshan Cangjiang
and sales of
Taimei Industrial
lighting,
Times Controlled Limited Park,
Pan Jie household 50 70.00% 70.00% 78203558-1
Lamps and subsidiary company Gaoming
appliances
Lanterns District,
and
Co., Ltd. Foshan
accessories
and other
lighting
products.
Foshan R&D and
Controlled Limited
Electrical Foshan Pan Jie sale of 5000 100.00% 100.00% 68638090-8
subsidiary company
and electric
121
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Lighting appliance,
Engineering lighting and
Co., Ltd. electromech
anical
products;
design,
construction
and
maintenanc
e of lighting
and
electromech
anical
projects;
design,
construction
and
technical
service of
intelligent
construction
projects;
investment,
design,
consulting
service,
construction
, service,
contractual
energy
managemen
t, technical
service and
assessment
of energy
saving
projects;
and
internationa
l trade
Nanjing Production
Fozhao Controlled Limited of 74539880-
Nanjing Pan Jie 4168.32 100.00% 100.00%
Lighting subsidiary company energy-savi X
Component ng lighting
122
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
s products,
Manufacturi lamps and
ng Co., Ltd. lighting
equipments;
lighting
projects;
energy-savi
ng
technology
developmen
t and
production
of relevant
fittings; sale
of
self-produce
d products
Production
and sale of
equipments
and
products of
electric
light source;
and sale of
FSL
components
(Xinxiang) Controlled Limited
Xinxiang Pan Jie of electric 3541.84 100.00% 100.00% 68818685-0
Lighting subsidiary company
light source,
Co., Ltd.
related
materials,
electrical
materials,
automobile
components
, lamps and
fittings
Financing
lease, lease,
Guangdong
lease
Fozhao
Controlled Limited consulting
Financing Foshan Pan Jie 20000 100.00% 100.00% 57641298-0
subsidiary company and
Lease Co.,
guaranty,
Ltd.
financing
lease
123
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
service for
new-energy
automobiles
& main
components
,
energy-savi
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,
Controlled Limited Liu
Equipment Foshan power 1500 100.00% 100.00% 06851850-0
subsidiary company Xingming
Co., Ltd. switches,
fire-protecti
on products,
ventilation
equipment,
LED
products,
etc.;
domestic
trade,
import and
export of
technology
and goods
Suzhou Licensing
Controlled Limited Zhang
Mont Suzhou operating 2363.49 50.50% 50.50% 69938969-6
subsidiary company Yingchun
Lighting project:
124
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Co.,Ltd. naught
General
operating
project:
Developme
nt,
production:
and sales
Semiconduc
tor lighting
appliances,
the drive
circuit and
control
system
software
and
hardware:
system
(Production
only for
branch
business)
Lighting
engineering
design and
installation;
engaged in
the import
and export
of
semiconduc
tor lighting
appliances,
the drive
circuit and
control
system
software
and
hardware:
system
3. Information of joint ventures and associated enterprises
Name of Business Registered Legal Business Registered Currency Percentage Relationshi Organizatio
125
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
investee type address representati nature capital of p n code
ve (RMB ten shareholdin
thousand g (%)
Yuan)
I. Joint ventures
II. Associated enterprises
Comprehen
Qinghai
sive develo
FSL
pment and
Lithium Limited Zhong Share
Qinghai utilization 10,000 38.00% 38.00% 69918800-2
Energy company Xincai company
of salt lake
Exploitation
resources
Co., Ltd.
4. Information of other related parties of the Company
Name of other related party Relationship Organization code
Prosperity (Hangzhou) Lighting and
Associated natural control of the Company 74203276-5
Electrical Co., Ltd.
Hangzhou Times Lighting and Electrical
Associated natural control of the Company 67918465-0
Co., Ltd.
Prosperity Electrical (China) Co., Ltd. Associated natural control of the Company 60136020-4
Prosperity Lamps & Components Limited Holding 5% or more shares of shareholder 250727
Prosperity (Xinxiang) Electro-Optical
Associated natural control of the Company 76946523-7
Machinery Co., Ltd
Prosperity (Xinxiang) Lighting Machinery
Associated natural control of the Company 68568572-6
Co., Ltd.
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
Related natural person as a director of the
Xiangguang Appliance Co., Ltd. 6585123
Company
Holding 5% or more shares of a legal
OSRAM Holdings Limited 909380
person
126
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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., Company affected by related natural
75752065-7
Ltd. person
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
OSRAM (China) Fluorescent Materials Company affected by related natural
Co.,Ltd. person
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 1.05537E+11
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
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 Company Ltd 58986
person acting in concert
Shanghai Beiyi Lighting Equipment Co., Company affected by related natural
74959758-2
Ltd. person
127
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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.
Shenyang Zhongzhou Shenghua Financial
Associated natural control of the Company 78874823-2
Management Ltd.
Related natural person as high executive
Liaoning Huize CPA Limited 24333962-3
director of the Company
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 1,480,293.13 0.15% 6,495.72 0.00%
Electrical Co., Ltd.
Prosperity Electrical
Purchase of materials Market price 14,287,405.97 1.49% 14,826,972.16 1.43%
(China) Co., Ltd.
Prosperity Lamps &
Purchase of materials Market price 1,775,250.56 0.19% 2,124,394.74 0.20%
Components Limited
OSRAM (China)
Purchase of materials Market price 0.00 62,400.00 0.01%
Lighting Co., Ltd.
Prosperity
(Xinxiang)
Purchase of materials Market price 0.00 29,709.50 0.00%
Electro-Optical
Machinery Co., Ltd.
Prosperity
XitekeLighting Purchase of materials Market price 0.00 1,352,030.73 0.13%
(Langfang) Co., Ltd.
Prosperity Lamps & Purchase of
Market price 0.00 1,340,388.53 3.44%
Components Limited equipments
Prosperity
Purchase of
(Xinxiang) Lighting Market price 0.00 720,598.29 1.85%
equipments
Machinery Co., Ltd
Total 17,542,949.66 1.83% 20,462,989.67 7.06%
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
128
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Prosperity
(Hangzhou) Lighting
Sales of products Market price 3,687,779.13 0.24% 2,511,662.66 0.15%
and Electrical Co.,
Ltd.
Hangzhou Times
Lighting and Sales of products Market price 2,448.72 0.00%
Electrical Co., Ltd.
Prosperity Electrical
Sales of products Market price 245,382.68 0.02% 507,807.33 0.03%
(China) Co., Ltd.
Prosperity Lamps &
Sales of products Market price 19,860,345.46 1.30% 23,298,724.88 1.44%
Components Limited
OSRAM (China)
Sales of products Market price 4,663,440.83 0.31% 5,577,548.29 0.34%
Lighting Co., Ltd.
OSRAM
(Asia-Pacific) Co., Sales of products Market price 18,160,268.95 1.19% 13,026.17 0.00%
Ltd.
Total 46,661,380.83 3.06% 31,908,769.33 1.96%
(2) Information of related party trust/contract
The company trust management/contract
Inapplicable
The company entrust management/ contracted
Inapplicable
Information of related party trust/contract
Inapplicable
(3) Information of related-party lease
The Company lease
Inapplicable
The Company lessee
Inapplicable
Information of related-party lease
Inapplicable
(4) Information of related-party guarantee
Inapplicable
(5) Related-party call loan
Inapplicable
(6) Information about assets transfer, debt reorganization of related parties
Inapplicable
129
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(7) Other related-party transaction
Naught
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 1,759,816.13 105,588.97 2,100,275.77 126,016.55
and Electrical Co.,
Ltd.
Prosperity Electrical
Accounts receivable 560,216.47 33,612.99 561,151.46 33,669.09
(China) Co., Ltd.
OSRAM (China)
Accounts receivable 4,399,450.55 263,967.03 3,090,949.47 185,456.97
Lighting Co., Ltd.
Prosperity Lighting
Accounts receivable 7,167,204.39 430,032.26 9,415,621.92 564,937.32
Equipment Co., Ltd.
OSRAM
Accounts receivable (Asia-Pacific) Co., 12,500,123.26 750,007.40 5,261,448.50 315,686.91
Ltd.
Total 26,386,810.80 1,583,208.65 20,429,447.12 1,225,766.84
Amount due to related parties
Unit: RMB Yuan
Name Related party Closing balance Opening balance
Prosperity Lighting
Accounts payable 1,700,721.98 573,328.59
Equipment Co., Ltd.
Prosperity Electrical (China)
Accounts payable 2,670,865.59 1,649,840.46
Co., Ltd
Hangzhou Times Lighting
Accounts payable 904,000.53 9,830.77
and Electrical Co., Ltd.
Prosperity(Xingxiang)
Other amounts payable 7,400.00 7,400.00
Lighting Machinery Co., Ltd
Total 5,282,988.10 2,240,399.82
(X) Share-based Payment
1. Overview of share-based payment
Inapplicable
2. Information of equity-settled share-based payment
Inapplicable
130
2014 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. Contingencies
1. Contingent liability and financial impacts caused by pending action or arbitration
Inapplicable
2. Contingent liability and financial impacts caused by provision of guarantee for other company
Inapplicable
XII. Commitments
1. Significant commitments
Inapplicable
2. Fulfillment of the previous commitments
Inapplicable
XIII. Events after the balance sheet date
1. Significant events after the balance sheet date
Inapplicable
2. List of profits distribution events after the balance sheet date
Inapplicable
3. Other assets and liabilities events after the balance sheet date
On 15 Aug. 2014, the Company and Guangzhou Finance Holdings Group Co., Ltd. signed , according to which Guangzhou Finance Holdings Group Co., Ltd. agreed to acquire the
15.38% stake of Guangzhou Pearl River Asset Management Co., Ltd. held by the Company at the price of RMB
8.52 million. Upon completion of this equity transaction, the Company no longer holds any equity in Guangzhou
Pearl River Asset Management Co., Ltd.
XIV. Other significant events
1. Non-monetary assets exchange
Inapplicable
2. Debt restructuring
Inapplicable
131
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
3. Business combination
Inapplicable
4. Leasing
Inapplicable
5. Financial instruments which is outstanding and can be converted into shares at the period-end
Inapplicable
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
3,903,197.90 -2,905,045.90 998,152.00
calculated in fair value
(excluded derivative
financial assets)
2. Available-for-sale
62,634,402.88 -2,825,612.16 59,808,790.72
financial assets
Subtotal of financial
66,537,600.78 -2,905,045.90 -2,825,612.16 60,806,942.72
assets
Subtotal 66,537,600.78 -2,905,045.90 -2,825,612.16 60,806,942.72
Financial liabilities 0.00 0.00
6. Foreign financial assets and liabilities
Inapplicable
7. Main content of pension plans and significant changes
Inapplicable
9. Other
The Company withholding equity incentive fund 10 million according to the actual performance of first half.
(XV) Notes of main items in the financial statements of the parent Company
1. Accounts receivable
(1) Accounts receivable
Unit: RMB Yuan
132
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Closing balance Opening balance
Book balance Provision for bad debts Book balance Provision for bad debts
Category
Proporti Proporti Proporti Proporti
Amount Amount Amount Amount
on (%) on (%) on (%) on (%)
Accounts receivable for which bad debt provisions are made on the group basis
Ordinary business group 538,177,953.97 94.86% 32,290,677.24 6.00% 405,953,943.93 89.68% 24,357,236.63 6.00%
Internal business group 29,190,203.40 5.14% 46,733,574.79 10.32%
100.00 100.00
Subtotal of the groups 567,368,157.37 32,290,677.24 5.69% 452,687,518.72 24,357,236.63 5.38%
% %
Total 567,368,157.37 -- 32,290,677.24 -- 452,687,518.72 -- 24,357,236.63 --
Note:
Accounts receivable with significant single amount and individually withdrawn bad debt provision at period end
□Applicable √Inapplicable
In the groups, accounts receivable adopting aging analysis 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
Proporti Proporti
Amount debts Amount debts
on (%) on (%)
Within 1 year
Including: -- -- -- -- -- --
Within 1 year 501,274,330.30 93.14% 30,076,459.82 392,366,020.60 96.65% 23,541,961.24
Subtotal of
501,274,330.30 93.14% 30,076,459.82 392,366,020.60 96.65% 23,541,961.24
within 1 year
1-2 years 29,112,365.19 5.41% 1,746,741.91 8,237,973.75 2.03% 494,278.42
2-3 years 5,582,578.93 1.04% 334,954.74 4,757,260.70 1.17% 285,435.64
Over 3 years 2,208,679.55 0.41% 132,520.77 592,688.88 0.15% 35,561.33
Total 538,177,953.97 -- 32,290,677.24 405,953,943.93 -- 24,357,236.63
In the groups, accounts receivable adopting balance percentage method to withdraw bad debt provision:
□ Applicable √ Inapplicable
In the groups, accounts receivable adopting other methods to withdraw bad debt provision:
√Applicable □ Inapplicable
Unit: RMB Yuan
Group name Book balance Provision for bad debts
Internal business group 29,190,203.40 0.00
Accounts receivable with insignificant single amount but independently withdrawn bad debts provision
□ Applicable √ Inapplicable
(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
Inapplicable
133
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(4)Information of shareholders with more than 5% (including 5%) of the voting shares of the Company in
accounts receivable in reporting period
Closing amount Opening amount
Name of entity
Book balance Bad debt provision Book balance Bad debt provision
Prosperity Lamps and
Components 7,167,204.39 430,032.26 9,415,621.92 564,937.32
(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 Non-related party 131,228,034.00 Within one year 23.13%
OSRAM ** Co., Ltd. Related party 12,500,123.26 Within one year 2.20%
Henan ** Electrical &
Non-related party 10,157,994.86 Within one year 1.79%
Lighting Co., Ltd.
Dongguan ** Energy
Saving Technology Non-related party 10,141,248.99 Within one year 1.79%
Co. , Ltd.
Changzhou ** Electrical
Non-related party 9,659,461.93 Within one year 1.70%
& Lighting Co., Ltd.
Total -- 173,686,863.04 -- 30.61%
（7）Accounts receivable due to the related parties
Unit: RMB Yuan
Occupancy rate of the total
Name of company Relationship with the Company Amount amount of accounts receivable
(%)
OSRAM (Asia-Pacific) Co., Holding 5% or more shares of a
12,500,123.26 2.20%
Ltd. legal person acting in concert
Prosperity Lighting Holding 5% or more shares of
7,167,204.39 1.26%
Equipment Co., Ltd. shareholders
OSRAM (China) Lighting Holding 5% or more shares of a
4,399,450.55 0.78%
Co., Ltd. legal person acting in concert
Prosperity (Hangzhou)
Company controlled by related
Lighting and Electrical Co., 1,460,141.13 0.26%
nature person
Ltd.
Prosperity Electrical (China) Company controlled by related
287,097.70 0.05%
Co., Ltd. nature person
Total -- 25,814,017.03 4.55%
(8)
RMB0.00 was transferred from the accounts receivable not meeting the conditions of termination recognition.
134
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(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 Provision for bad
Book balance Book balance
debts debts
Category
Propor Propo
Proporti Proporti
Amount Amount tion Amount Amount rtion
on (%) on (%)
(%) (%)
Other accounts receivable for which bad debt provisions are made on the group basis
Ordinary business group 15,454,749.26 19.53% 927,284.96 6.00% 22,650,649.31 31.04% 1,359,038.95 6.00%
Internal business group 63,696,328.31 80.47% 50,320,743.77 68.96%
100.00
Subtotal of the groups 79,151,077.57 927,284.96 1.17% 72,971,393.08 100.00% 1,359,038.95 1.86%
%
Total 79,151,077.57 -- 927,284.96 -- 72,971,393.08 -- 1,359,038.95 --
Note:
Other accounts receivable with insignificant single amount but independently withdrawn bad debts provision at
period-end
□ Applicable √ Inapplicable
In the group, other accounts receivable withdrawn bad debt provision by adopting aging analysis
√Applicable □ Inapplicable
Unit: RMB Yuan
Closing balance Opening balance
Book balance Book balance
Age
Proporti Bad debt provision Proporti Bad debt provision
Amount Amount
on (%) on (%)
Within 1 year
Including: -- -- -- -- -- --
Within 1 year 14,082,906.14 91.12% 844,974.37 21,660,380.27 95.63% 1,299,622.82
Subtotal within
14,082,906.14 91.12% 844,974.37 21,660,380.27 95.63% 1,299,622.82
1 year
1-2 years 588,664.48 3.81% 35,319.87 114,694.08 0.50% 6,881.63
2-3 years 486,901.11 3.15% 29,214.07 486,435.49 2.15% 29,186.13
Over 3 years 296,277.53 1.92% 17,776.65 389,139.47 1.72% 23,348.37
Total 15,454,749.26 -- 927,284.96 22,650,649.31 -- 1,359,038.95
In the group, the other accounts receivable using balance percentage method for withdrawing provisions for bad
debt:
√Applicable □Inapplicable
In the group, the accounts receivable were using other methods for withdrawing provisions for bad debt:
√Applicable □Inapplicable
135
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Unit: RMB Yuan
Name of group Book balance Bad debt provision
Internal business group 63,696,328.31 0.00
Other accounts receivable with insignificant single amount but individually withdrawn bad debt provision at
period-end
√Applicable □Inapplicable
(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 (%)
Foshan Zhaoming
Lighting Equipment Co., Related party 35,242,769.62 Within 1 year 44.53%
Ltd.
Foshan Chansheng
Electronic Ballast Co., Related party 13,172,941.57 Within 1year 16.64%
Ltd.
Export rebates Non-related party 9,115,730.34 Within 1 year 11.52%
Nanjing Fozhao Lighting
Equipment Related party 7,975,574.57 2 to 3 years 10.08%
Manufacturing Co., Ltd.
Foshan Electrical &
Lighting (Xinxiang) Co., Related party 3,311,957.24 Within 1 year 4.18%
Ltd.
Total -- 68,818,973.34 -- 86.95%
(7) Other account receivable due from related parties
Unit: RMB Yuan
Name of company Relationship Amount Proportion (%)
Foshan Zhaoming Lighting
Controlling subsidiary 35,242,769.62 44.53%
Equipment Co., Ltd.
Foshan Chansheng Electronic
Controlling subsidiary 13,172,941.57 16.64%
Ballast Co., Ltd.
136
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Nanjing Fozhao Lighting
Equipment Manufacturing Controlling subsidiary 7,975,574.57 10.08%
Co., Ltd.
Foshan Electrical & Lighting
Controlling subsidiary 3,311,957.24 4.18%
(Xinxiang) Co., Ltd.
Foshan Chanchang Electric
Appliances (Gaoming) Co., Controlling subsidiary 1,990,296.99 2.51%
Ltd.
Foshan Taimei Times Lamps
Controlling subsidiary 1,515,922.49 1.92%
Co., Ltd.
Foshan Lighting Lamps and
Controlling subsidiary 383,544.92 0.48%
Lanterns Co., Ltd.
Foshan Electrical and
Lighting Engineering Co., Controlling subsidiary 101,882.30 0.13%
Ltd.
Foshan Electrical & Lighting
Controlling subsidiary 1,438.61 0.00%
(Xinxiang) Co., Ltd.
Total -- 63,696,328.31 80.47%
(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
Foshan
Cost 2,744,500 2,744,500 2,744,500
Chanshen 100.00% 100.00% In accord
method .00 .00 .00
g
137
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Electroni
c Ballast
Co., Ltd.
Foshan
Chanchan
g Electric
Applianc Cost 42,000,00 42,000,00 42,000,00
70.00% 70.00% In accord
e method 0.00 0.00 0.00
(Gaoming
) Co.,
Ltd.
Foshan
Taimei
Times
Cost 350,000.0 350,000.0 350,000.0 4,888,04
Lamps 70.00% 70.00% In accord
method 0 0 0 4.88
and
Lanterns
Co., Ltd.
Nanjing
Fozhao
Lighting
Equipm Cost 72,000,00 72,000,00 72,000,00
100.00% 100.00% In accord
ent method 0.00 0.00 0.00
Manufac
turing
Co., Ltd.
Foshan
Electrical
&
Cost 35,418,43 35,418,43 35,418,43
Lighting 100.00% 100.00% In accord
method 9.76 9.76 9.76
(Xinxiang
) Co.,
Ltd.
Foshan
Lighting
Lamps Cost 50,077,00 50,077,00 50,077,00
100.00% 100.00% In accord
and method 0.00 0.00 0.00
Lanterns
Co., Ltd.
Guangdo
ng
Cost 200,000,0 200,000,0 200,000,0
Fozhao 100.00% 100.00% In accord
method 00.00 00.00 00.00
Financial
Leasing
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Co., Ltd.
Guangdo
ng
Fozhao
New
Cost 15,000,00 15,000,00 15,000,00
Light 100.00% 100.00% In accord
method 0.00 0.00 0.00
Sources
Technolo
gy Co.,
Ltd.
Suzhou
Cost 24,360,00 24,360,00 24,360,00
Mont 0.00 50.50% 50.50% In accord
method 0.00 0.00 0.00
Lighting
Co.,Ltd,
Qinghai
FSL
Lithium
Equity 38,000,00 12,807,64 -2,595,52 10,212,11
Energy 38.00% 38.00% In accord
method 0.00 2.03 3.09 8.94
Exploitati
on Co.,
Ltd.
Guangdo
ng
Fozhao
Equity 12,600,00 5,395,449 -5,395,44
Guoxuan 0.00 In accord
method 0.00 .79 9.79
Power
Energy
Co., Ltd.
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 5.00% 5.00% .00
Ltd.
Chengdu
Cost 6,000,000 6,000,000 6,000,000
Hongbo 6.94% 6.94% In accord
method .00 .00 .00
Industrial
139
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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 5.00% 5.00%
Ltd.
Foshan
Fochen
Highway Cost 20,757,60 8,175,627 -499,999. 7,675,627
7.66% 7.66% In accord
Develop method 0.00 .38 98 .40
ment Co.,
Ltd.
Hefei
Guoxuan
Hi-Tech Cost 160,000,0 160,000,0 160,000,0
14.84% 14.84% In accord
Power method 00.00 00.00 00.00
Energy
AG
904,231,7 918,892,7 15,869,02 934,761,8 9,148,904 4,888,044
Total -- -- -- --
56.76 91.96 7.14 19.10 .81 .88
Notes to the long-term equity investment
—Revenue from Foshan Fochen Road Development Company Limited has been recorded into unified collection
and allocation system of road-bridge tolls. The Company regards such investments balances as right to earnings,
which shall be amortized within the remaining period of business of this company. In current period, an
investment cost of RMB 000 was amortized.
—The investee company Guangdong Fozhao Guoxuan Power Energy Co., Ltd. had completed the liquidation
procedures.
—On 15 Aug. 2014, the Company and Guangzhou Finance Holdings Group Co., Ltd. signed , according to which Guangzhou Finance Holdings Group Co., Ltd. agreed to acquire the
15.38% stake of Guangzhou Pearl River Asset Management Co., Ltd. held by the Company at the price of RMB
8.52 million. Upon completion of this equity transaction, the Company no longer holds any equity in Guangzhou
Pearl River Asset Management Co., Ltd.
4. Revenue and Cost of Sales
(1) Revenue
Unit: RMB Yuan
Item Reporting period Same period of last year
Main business revenue 1,490,151,685.68 1,174,388,755.76
Other business revenue 80,081,492.90 49,004,949.56
Total 1,570,233,178.58 1,223,393,705.32
Cost of sales 1,211,678,092.30 960,725,666.05
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(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
1,490,151,685.68 1,147,781,613.27 1,174,388,755.76 929,420,937.18
lamps
Total 1,490,151,685.68 1,147,781,613.27 1,174,388,755.76 929,420,937.18
(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
1,490,151,685.68 1,147,781,613.27 1,174,388,755.76 929,420,937.18
lamps
Among: traditional lighting
1,069,369,192.29 812,694,756.08 1,078,994,820.43 847,087,142.75
products
LED lighting products 420,782,493.39 335,086,857.19 95,393,935.33 82,333,794.43
Total 1,490,151,685.68 1,147,781,613.27 1,174,388,755.76 929,420,937.18
(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 999,480,817.88 819,088,953.27 846,565,487.63 690,061,303.46
Overseas 490,670,867.80 328,692,660.00 327,823,268.13 239,359,633.72
Total 1,490,151,685.68 1,147,781,613.27 1,174,388,755.76 929,420,937.18
(5) Revenue of sales from the top five customers
Unit: RMB Yuan
Proportion of total
Customers Total revenue of sales
revenue of sales (%)
** COMPANY 183,203,928.16 11.67%
** ELECTRIC COMPANY 26,175,521.25 1.67%
Guangzhou ** Lighting electric Appliance Co., Ltd. 20,154,129.33 1.28%
Shenzhen ** Electric Appliance Co.,ltd. 19,876,497.63 1.27%
PROSPERITY LAMPS & COMPONENTS LIMITED 19,860,345.46 1.26%
Total 269,270,421.83 17.15%
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
26,330,880.10 0.00
method
Long-term equity investment income accounted by equity
-2,612,635.56 -2,310,773.80
method
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Investment income received from the disposal of tradable
-714,793.88 -1,379,272.51
financial assets
Investment income received from available-for-sale financial
0.00 1,365,712.54
assets
Total 23,003,450.66 -2,324,333.77
(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
Received dividend bonus money from
Xiamen Bank Co., Ltd. 21,942,835.20 0.00
investee in the reporting period
Conducted amortization to the investee
according to Foshan bridge tolls
Fochen Highway Development Co., Ltd. -499,999.98 0.00
unified collection distribution system
in the reporting period
Foshan Taimei Times Lamps and Lanterns Received dividend bonus money from
4,888,044.88 0.00
Co., Ltd. subsidiary in the reporting period
Total 26,330,880.10 0.00 --
(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 YoY
year
Qinghai FSL Lithium Energy Exploitation
-2,595,523.09 -1,957,819.93 Loss increase in this period
Co., Ltd.
Guangdong Fozhao Guoxuan Power Energy
-17,112.47 -352,953.87 losses of cancellation liquidation
Co., Ltd.
Total -2,612,635.56 -2,310,773.80 --
Note:
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 186,446,462.84 144,315,684.79
Add: Provision for assets impairments 2,949,407.02 16,165,237.79
Depreciation of fixed assets, oil and gas assets and productive
36,488,694.71 37,192,578.90
biological assets
Amortization of intangible assets 2,326,100.18 1,690,549.45
Losses/gains on disposal of property, intangible asset and other
-3,458.00 -16,786,499.21
long-term assets (gains: negative)
Losses/gains on scrapped of fixed assets (gains: negative) 61,753.86 908,276.06
Losses/gains from variation of fair value (gains: negative) -1,115,756.46 69,701.45
Financial cost (income: negative) 1,773,859.83 2,050,576.88
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Investment loss (gains: negative) -23,003,450.66 2,324,333.77
Decrease in deferred tax assets (increase: negative) -236,092.00 4,041,585.41
Decrease in inventory (increase: negative) -61,222,839.49 -65,715,124.75
Decrease in accounts receivable from operating activities (increase:
-190,629,267.99 -260,165,830.11
negative)
Increase in accounts payable from operating activities (decrease:
190,728,936.13 129,586,264.73
negative)
Net cash flows generated from operating activities 144,564,349.97 -4,322,664.84
2. Significant investing and financing activities without
-- --
involvement of cash receipts and payments
3. Change of cash and cash equivalent: -- --
Closing balance of cash 552,886,955.79 429,905,060.78
Less: opening balance of cash 581,390,386.39 699,511,754.78
Plus: closing balance of cash equivalent -28,503,430.60 -269,606,694.00
8. Assets and liabilities in assessed value under reverse purchase
Inapplicable
XIV. Supplementary information
1 Items and amounts of extraordinary gains and losses
Unit: RMB Yuan
Item Amount Note
Loss and gains on disposal of non-current assets (Including
-106,385.02
write-off part of the provision for asset impairment)
Governmental subsidy included in the current profits and losses(is
closely related with the business event, except for the
323,499.80
governmental subsidy that according to the national unity
standard quota or the quantitative regal assets)
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
financial assets and the trading financial liabilities as well as the 22,326,685.31
investment income that earning from the disposal of trading
financial assets, trading financial liabilities and available-for-sale
financial assets
Income and expenses of the other operation except for the
682,094.80
mentioned above
Less：the effect of income tax 3,490,982.07
Total 19,734,912.82 --
Government grants recognized in the current period was recurrent profit and loss item, shall specify disclosure
reason item by item.
□ Applicable √ Inapplicable
2. Accounting data differences according to the domestic and foreign accounting standards
143
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(1) 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
188,959,139.45 153,047,291.37 2,920,569,091.65 2,890,581,921.74
accounting standards
Items and amounts adjusted in accordance with international accounting standards
According to the international
188,959,139.45 153,047,291.37 2,920,569,091.65 2,890,581,921.74
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
188,959,139.45 153,047,291.37 2,920,569,091.65 2,890,581,921.74
accounting standards
Items and amounts adjusted in accordance with foreign accounting standards
According to the foreign
188,959,139.45 153,047,291.37 2,920,569,091.65 2,890,581,921.74
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
6.68% 0.1931 0.1931
common stock shareholders
Net profit attributable to shareholders of the
Company's common stock after deducting 5.98% 0.1729 0.1729
non-recurring gains and losses
4. Particulars on the abnormal conditions of main items in the financial statements of the Company and
relevant reasons
Unit: RMB Yuan
Item Closing balance Opening balance Change rate Reason
Tradable financial Mainly due to the sale of part of
998,152.00 3,903,197.90 -74.43%
assets tradable financial assets
Mainly due to the increase of note
Notes receivable 231,892,346.49 154,142,432.66 50.44%
receivable
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Mainly due to the increase of the
Account receivable 522,173,015.03 390,216,735.62 33.82%
sale of products
Mainly due to the increase of
payment in advance 74,912,388.57 24,054,319.34 211.43%
advance payment for materials
Mainly due to the goodwill
Goodwill 6,603,743.83 - 100% recognized by the newly acquisition
subsidiary
Mainly due to the increase of
Accounts payable 506,823,920.43 270,968,881.44 87.04%
purchase of material
Mainly due to the increase
Tax payable 44,456,205.21 19,571,121.78 127.15%
of unpaid taxes payable
Mainly due to the increase of newly
Minority equity 48,384,394.65 34,805,128.86 39.02% purchase other shareholders’
equities of the subsidiary
Mainly due to the increase of sales
Sales expense 62,967,912.93 44,431,240.08 41.72%
business
Administration Mainly due to the increase of
104,495,339.45 77,932,401.53 34.08%
expense operating expense
Mainly due to the increase of bank
Financial expenses -5,733,347.63 -3,963,817.89 -44.64%
interest
Assets impairment Mainly due to the decrease
3,473,194.22 17,853,921.20 -80.55%
loss of provision for bad debts
Gains on the
Mainly due to the changes in fair
changes in the fair 1,115,756.46 -69,701.45 1700.77%
value of trading financial assets
value
Mainly due to receiving dividend
Investment income 18,115,405.78 -945,061.26 2016.85%
bonus money of Xiamen Bank
Non-operating Mainly due to the decrease
3,294,367.06 71,680,160.17 -95.40%
income of energy-saving subsidies income
Non-operating Mainly due to the decrease of sale
115,455.48 10,700,438.83 -98.92%
expenses of fixed assets
Minority interest Mainly due to the increase of
-1,730,504.97 -62,814.29 -2654.95%
income subsidiary loss
Other
Mainly due to changes in fair value
comprehensive -2,401,770.34 -3,802,803.04 -36.84%
of available for sale financial assets
income
The net cash flow Mainly due to the increase of the
gained from 138,441,766.77 11,712,252.61 1082.03% cash received by selling goods,
operating activities providing labor services
The net cash flow
Mainly due to the increase of the
gained from -21,344,331.62 25,328,242.59 -184.27%
cash pay to foreign investment
investment activities
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2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
The net cash flow Mainly due to the decrease of the
gained from -151,583,685.10 -284,036,742.40 -46.63% distribution of dividends, profits or
financing activities cash for interest payments
146
2014 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
X. 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 2014 Semi-annual Report with the signature of the Chairman of the Board of
Directors.
Board of Directors
Foshan Electrical and Lighting Co.,Ltd
26 August 2014
147