2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
FOSHAN ELECTRICAL AND LIGHTING CO., LTD.
2015 Semi-annual Report
August 2015
1
2015 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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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Contents
2015 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 ................................................................................. 10
Section V. Significant Events ........................................................................................................... 29
Section VI. Changes in Shares & Particulars about Shareholders.............................................. 40
Section VII. Preference Shares........................................................................................................ 46
Section VIII. Directors, Supervisors & Senior Management Staff .............................................. 47
Section IX. Financial Report ........................................................................................................... 49
Section X. Documents Available for Reference ........................................................................... 151
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2015 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. 2015-30 Jun. 2015
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2015 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 with Shenzhen Stock Exchange
Chinese name of the Company 佛山电器照明股份有限公司
Abbr. of the Chinese name of the
佛山照明
Company (if any)
English name of the Company (if
FOSHAN ELECTRICAL AND LIGHTING CO.,LTD
any)
Abbr. of the English name of the
FSL
Company (if any)
Legal representative of the
Pan Jie
Company
II. For Contact
Company Secretary Securities Affairs Representative
Name Lin Yihui Huang Yufen
No. 64, Fenjiang North Road, No. 64, Fenjiang North Road,
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 2014 Annual Report.
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2015 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 2014 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 2014
Annual Report.
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2015 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) 1,524,362,786.49 1,543,058,758.03 -1.21%
Net profit attributable to
shareholders of the Company (RMB 100,258,759.31 188,959,139.45 -46.94%
Yuan)
Net profit attributable to
shareholders of the Company after
91,812,010.45 169,224,226.63 -45.75%
extraordinary gains and losses (RMB
Yuan)
Net cash flows from operating
99,274,347.70 138,441,766.77 -28.29%
activities (RMB Yuan)
Basic EPS (RMB Yuan/share) 0.0788 0.1485 -46.94%
Diluted EPS (RMB Yuan/share) 0.0788 0.1485 -46.94%
Weighted average ROE (%) 3.48% 6.68% -3.20%
As at the end of the As at the end of last
+/- (%)
reporting period year
Total assets (RMB Yuan) 5,314,427,371.16 3,736,704,336.40 42.22%
Net assets attributable to
shareholders of the Company (RMB 4,325,397,037.15 3,044,585,720.58 42.07%
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
√ Applicable □ Inapplicable
Unit: RMB Yuan
Net profit attributable to shareholders of Net assets attributable to shareholders of
the Company the Company
Reporting period Same period of last Closing amount Opening amount
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
year
According to Chinese
100,258,759.31 188,959,139.45 4,325,397,037.15 3,044,585,720.58
accounting standards
Items and amounts adjusted according to international accounting standards
According to international
100,258,759.31 188,959,139.45 4,325,397,037.15 3,044,585,720.58
accounting standards
2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and
Chinese accounting standards
√ Applicable □ Inapplicable
Unit: RMB Yuan
Net profit attributable to shareholders of Net assets attributable to shareholders of
the Company the Company
Same period of last
Reporting period Closing amount Opening amount
year
According to Chinese
100,258,759.31 188,959,139.45 4,325,397,037.15 3,044,585,720.58
accounting standards
Items and amounts adjusted according to overseas accounting standards
According to overseas
100,258,759.31 188,959,139.45 4,325,397,037.15 3,044,585,720.58
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
√ Applicable □ Inapplicable
Unit: RMB Yuan
Item Amount Explanation
Gains/losses on the disposal of non-current assets
(including the offset part of asset impairment -391,009.93
provisions)
Government grants recognized in the current period,
except for those acquired in the ordinary course of
2,519,246.86
business or granted at certain quotas or amounts
according to the country’s unified standards
Gains and losses on change in fair value from tradable 18,541,755.45
financial assets and tradable financial liabilities, as well
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
as investment income from disposal of tradable financial
assets and tradable financial liabilities and financial
assets available for sales except for effective hedging
related with normal businesses of the Company
Provisions for projected
Non-business income and expenses other than the above -14,119,698.73
liabilities
Other gain and loss items that meet the definition of an
491,693.21
extraordinary gain/loss
Less: Income tax effects -1,472,221.11
Minority interests effects (after tax) 67,459.11
Total 8,446,748.86 --
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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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Section IV. Report of the Board of Directors
I. Overview
The reporting period saw an increasingly complicated global economic environment due to the
building-up downward pressure on the domestic economy and the slow recovery of the foreign
economies. In terms of the illuminating industry, despite the rapid development of LED, problems
existed such as structural overcapacity, fiercer market competition and falling product prices. In
face of the changes in the operating environment, the board and management of the Company relied
on the Company’s brands and strength in business and seized opportunities in the thorough
replacement by LED, striving to develop the LED business. Besides our developments in the
traditional, home and office lighting sectors, we also developed product series in the commercial
lighting sector which had been a weak point for us. This has further optimized our product mix.
For the reporting period, the Company achieved operating revenues of RMB 1524.3628 million,
down 1.21% over the same period of last year, of which the revenue from domestic sale reached
RMB 1061.981 million, up 0.93% year on year, and that from export reached RMB 462.3818
million, down 5.79% year on year; total profits of RMB 124.4494 million, down 45.64% over the
same period of last year; and net profit attributable to shareholders of the Company of RMB
100.2588 million, representing a year-on-year decrease of 46.94%.
II. Main business analysis
YoY change of major financial data:
Unit: RMB Yuan
Same period of last Main reasons for
Reporting period YoY +/-%
year change
Operating revenues 1,524,362,786.49 1,543,058,758.03 -1.21%
Operating costs 1,166,043,441.01 1,156,217,280.15 0.85%
Selling expenses
Selling expenses 82,224,380.27 62,967,912.93 30.58%
increased.
Administrative
114,295,848.69 104,495,339.45 9.38%
expenses
Financial expenses -11,207,940.80 -5,733,347.63 -95.49% Exchange losses
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
decreased.
The taxable income
Income tax expenses 27,933,767.11 41,689,863.95 -33.00%
decreased.
R&D inputs 44,480,518.51 34,671,618.47 28.29%
Net cash flows from
99,274,347.70 138,441,766.77 -28.29%
operating activities
Net cash flows from Investment
-10,708,737.02 -21,344,331.62 49.83%
investing activities decreased.
Net cash flows from Dividends paid
-204,113,711.36 -151,583,685.10 -34.65%
financing activities increased.
Net increase in cash Dividends paid
-115,550,831.23 -36,260,109.78 -218.67%
and cash equivalents increased.
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 2015, the Company made rational arrangements and
then strictly implemented them. The overall operation was steady. 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/decrea Increase/decrea
Increase/decrea
se of operating se of gross
se of operating
Operating Operating Gross profit revenues over profit rate over
costs over the
revenues costs rate (%) the same the same
same period of
period of last period of last
last year (%)
year (%) year (%)
Classified by industry:
Lighting
fixtures and 1,511,711,913.81 1,160,678,870.83 23.22% -1.03% 1.43% -1.86%
lamps
Classified by product:
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Lighting
fixtures and 1,511,711,913.81 1,160,678,870.83 23.22% -1.03% 1.43% -1.86%
lamps
Of which:
traditional
767,496,809.02 553,666,795.27 27.86% -30.65% -31.58% 0.98%
lighting
products
LED 744,215,104.79 607,012,075.56 18.44% 76.86% 81.15% -1.93%
Classified by region:
Domestic 1,049,330,092.75 805,989,778.56 23.19% 1.22% -1.17% 1.86%
Overseas 462,381,821.06 354,689,092.27 23.29% -5.79% 7.87% -9.72%
IV. Core competitiveness analysis
No material changes occurred to the core competitiveness of the Company in the reporting period.
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 Investment amount in the same period of
+/-%
reporting period (RMB Yuan) last year (RMB Yuan)
0.00 0.00 0.00%
Particulars about investees
Proportion of the Company’s
Name of investee Main business investment in the investee’s total
equity interests (%)
Qinghai Fozhao Lithium Energy Integrated development and utilization of
38.00%
Exploitation Co., Ltd. salt lake brine resource.
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
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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.,
consulting service, sale of goods 6.94%
Ltd.
(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
Development, manufacture and sale of
lithium ion batteries and materials,
batteries, motors and vehicle control
systems; development, manufacture and
sale of lithium ion battery emergency
power supply, energy storage batteries and
batteries for electric tools; development,
manufacture, sale and assembly of high
and low voltage switches and package
units, digital electric equipment,
distribution network intelligent equipment
and components and three box girders;
development, manufacture, sale and
assembly of solar power, wind power and
Jiangsu Dongyuan Electrical
other renewable power equipment; 8.47%
Group Co., Ltd.
development, manufacture, sale and
installation of energy-saving,
environment-friendly electrical appliances
and equipment, electrical appliances and
equipment for ships; development,
manufacture and sale of transformers,
transformer substations, large-scale
charging equipment and stations, and
vehicle-mounted chargers and
high-voltage compartments; import &
export of its own goods and technology
and import & export of other entities’
goods and technology as an agency; and
design and construction of city and road
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
lighting projects.
Foshan Fochen Road Building and operation of the Fochen
7.66%
Development Company Limited (Foshan Chencun) Road
Xiamen Bank Banking services 6.91%
Foshan branch of China Guangfa
Banking services Less than 5.00%
Bank
China Everbright Bank Banking services 0.04%
(2) Equity-holdings in financial enterprises
√ Applicable □ Inapplicable
Gain/loss
Initial Closing
Opening Opening Closing Closing in the
investme book
Enterpris Enterpris equity-ho equity-ho equity-ho equity-ho reporting Accounti Equity
nt cost value
e name e variety ldings lding ldings lding period ng title source
(RMB (RMB
(share) ratio (%) (share) ratio (%) (RMB
Yuan) Yuan)
Yuan)
Available
China
Commer 30,828,816 99,410,601 20,512,962 -for-sale Addition
Everbrig 23,546,768 0.06% 18,546,754 0.04%
cial bank .00 .44 .80 financial al issue
ht Bank
assets
Available
Xiamen Commer 292,574,13 109,714,17 109,714,17 292,574,13 -for-sale Addition
6.91% 6.91% 0.00
Bank cial bank 3.00 6 6 3.00 financial al issue
assets
Foshan
Available
branch of
Commer Less than Less than -for-sale Addition
China 500,000.00 229,792 229,792 500,000.00 0.00
cial bank 5.00% 5.00% financial al issue
Guangfa
assets
Bank
323,902,94 133,490,73 128,490,72 392,484,73 20,512,962
Total -- -- --
9.00 6 2 4.44 .80
(3) Securities investments
√ Applicable □ Inapplicable
Initial Number Shareho Number Shareho Closing Gain/los
Variety
Code of Name of investm of lding of lding book s for
of Account Source
securitie securitie ent cost shares percenta shares percenta value reportin
securitie ing title of stock
s s (RMB held at ge at held at ge at (RMB g period
s
Yuan) period-b period-b period-e period-e Yuan) (RMB
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
egin egin nd nd Yuan)
Transact
98,754,00 ional Pledged
Other 205001 1 Day 6,884.18
0.00 financial repo
asset
Transact
12,414,00 ional Pledged
Other 205007 7 Days 9,066.92
0.00 financial repo
asset
Transact
14 32,380,00 ional Pledged
Other 205008 40,510.28
Days 0.00 financial repo
asset
Reverse
Transact
repo of
1,933,319 212,097.2 ional
Bond 204001 GC001 govern
,333.00 1 financial
ment
asset
bonds
Reverse
Transact
repo of
141,102,8 ional
Bond 204002 GC002 14,667.83 govern
22.00 financial
ment
asset
bonds
Reverse
Transact
repo of
83,302,49 ional
Bond 204003 GC003 34,830.87 govern
9.00 financial
ment
asset
bonds
Reverse
Transact
repo of
244,609,7 ional
Bond 204004 GC004 87,596.94 govern
84.00 financial
ment
asset
bonds
Reverse
Transact
repo of
182,809,1 ional
Bond 204007 GC007 86,038.98 govern
40.00 financial
ment
asset
bonds
Transact
Stock 002736 GXZQ 11,660.00 2,000 2,000 50,180.00 400.00 ional
financial
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
asset
Transact
ional
Stock 300413 KLG 4,530.00 500 0 11,958.67
financial
asset
Transact
ional
Stock 300418 KLWW 10,150.00 500 0 23,126.61
financial
asset
Transact
ional
Stock 601021 CQHK 18,160.00 1,000 0 50,547.20
financial
asset
Transact
1,005,199 1,564,255 ional
Stock 000601 SNGF 167,300 167,300
.54 .00 financial
asset
Transact
ional
Stock 300421 LXGF 4,565.00 500 0 6,607.00
financial
asset
Transact
ional
Stock 601198 DXZQ 18,360.00 2,000 2,000 59,820.00 320.00
financial
asset
Transact
ional
Stock 603118 GJGF 11,950.00 1,000 0 13,705.10
financial
asset
Transact
ional
Stock 603618 HDGF 11,650.00 1,000 0 14,284.40
financial
asset
Transact
ional
Stock 603939 YFYF 19,470.00 1,000 0 22,454.32
financial
asset
Transact
ional
Stock 300420 WYKJ 4,135.00 500 0 9,076.88
financial
asset
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Transact
ional
Stock 300433 LSKJ 11,495.00 500 500 44,205.00
financial
asset
Transact
ional
Stock 300432 FLJG 6,985.00 500 500 43,000.00 150.00
financial
asset
Transact
ional
Stock 601689 TPJT 11,370.00 1,000 1,000 25,180.00
financial
asset
Transact
ional
Stock 600958 DFZQ 50,150.00 5,000 0 53,088.25
financial
asset
Transact
ional
Stock 002752 SXGF 2,870.00 500 500 16,720.00
financial
asset
Transact
ional
Stock 603808 GLS 19,160.00 1,000 1,000 54,260.00
financial
asset
Transact
ional
Stock 600959 JSYX 10,940.00 2,000 2,000 54,580.00
financial
asset
Transact
ional
Stock 300438 PHNY 7,435.00 500 500 85,995.00
financial
asset
Transact
ional
Stock 300455 KTHW 3,440.00 500 500 24,550.00
financial
asset
Transact
ional
Stock 300456 NWKJ 7,005.00 500 500 57,220.00
financial
asset
Stock 603227 XFKJ 4,980.00 1,000 1,000 22,980.00 Transact
17
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
ional
financial
asset
Transact
ional
Stock 603198 YJGJ 11,800.00 1,000 1,000 28,360.00
financial
asset
Transact
ional
Stock 300478 HZGX 7,420.00 500 500 24,705.00
financial
asset
Transact
235,260.0 ional
Stock 601985 ZGHD 61,020.00 18,000 18,000
0 financial
asset
Transact
118,260.0 206,040.0 ional
Stock 601211 GTJA 6,000 6,000
0 0 financial
asset
Transact
ional
Stock 300482 WFSW 8,000.00 500 500 11,520.00
financial
asset
Other securities
investments held at the 0.00 0 -- 0 -- 0.00 0.00 -- --
period-end
2,730,153 2,608,830 697,411.6
Total 216,300 -- 205,300 -- -- --
,737.54 .00 4
Disclosure date of the
board announcement on
23 Jan. 2014
approval of the securities
investment
Disclosure date of the
general meeting
announcement on approval
of the securities investment
Note: The funds for “pledged repo” and “reverse repo of government bonds” were strictly controlled within the
line approved by the board, without use out of line. In order to better use the funds, we carried out repeated
investment in the mature investment products above in multiple transactions. As such, the single investment costs
for “pledged repo” and “reverse repo of government bonds” were their accumulative amounts which were
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
repeatedly invested with in the first half of 2015.
(4) Shareholdings in other listed companies
√ Applicable □ Inapplicable
In the reporting period, Hefei Guoxuan High-tech Power Energy Co., Ltd. (“Guoxuan High-tech”), where the
Company held a stake, successfully carried out a back door listing through Jiangsu Dongyuan Electrical Group
Co., Ltd. (“Dongyuan Electrical”) and the relevant asset transfer formalities were all completed. As such, the
shares held by the Company in Guoxuan High-tech were shifted to 73,006,150 shares held by the Company in
Dongyuan Electrical (for details, see Announcement No. 2015-018 on Progress of Back Door Listing of
Shareholding Company disclosed on www.cninfo.com.cn dated 14 May 2015).
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. Use of raised funds
□ Applicable √ Inapplicable
No such cases in the reporting period.
4. Analysis to main subsidiaries and shareholding companies
√ Applicable □ Inapplicable
Main subsidiaries and shareholding companies:
Unit: RMB Yuan
Company Company Main Registered Operating Operating
Industry Total assets Net assets Net profit
name variety products/ser capital revenues profit
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
vices
Production
and
operation of
electronic
ballasts,
electronic
transformer
s, electronic
igniters,
electric
light source
products,
equipment,
fittings,
electrical
materials,
automobile
components
, home
Foshan appliances,
Chansheng socket
Manufactur 56,423,841. 12,495,358. 83,581,595. -983,155.
Electronic Subsidiary outlets, 1,000,000.0 -806,195.76
e 92 90 61 70
Ballast Co., power 0
Ltd. switches,
fire-protecti
on
products,
ventilation
equipment
and LED
products.
(Where
approval
from
relevant
authorities
is required
for an
operating
project
according
to law, it
shall be
20
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
obtained
before
operation.)
Producer of
lamps,
electric
lighting
Foshan
products
Chanchang
and related
Electric Manufactur 100,912,04 96,028,361. 18,925,514. -1,819,06
Subsidiary fittings, 72,782,944. -1,498,575.91
Appliances e 7.44 11 22 7.94
providing 00
(Gaoming)
relevant
Co., Ltd.
installation
and
consulting
services
R&D,
production
and sales of
Foshan lamps,
Taimei household
Manufactur 56,209,458. 28,670,580. 67,478,345. 3,471,756
Times Subsidiary appliances 2,603,080.01
e 500,000.00 42 12 33 .08
Lamps Co., and fittings,
Ltd. and other
electric
lighting
products
Developme
nt and sale
of electrical
appliances,
lighting and
mechanical
FSL New
& electrical
Light
Manufactur products; 53,791,875. 49,393,693. -4,050,24
Source Subsidiary 50,000,000. 0.00 -3,037,680.46
e engineering 98 80 0.62
Technology 00
design,
Co., Ltd.
constructio
n and
maintenanc
e of lighting
and
mechanical
21
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
& electrical
projects;
design,
constructio
n and
technical
service for
intelligent
constructio
n projects;
investment,
design &
consulting
service,
constructio
n and
service for
energy-savi
ng projects;
contractual
energy
managemen
t and
technical
service;
energy-savi
ng project
appraisal;
internationa
l trade; and
developmen
t,
production
and sale of
electric
light source
products.
(Where
approval
from
relevant
authorities
is required
for an
22
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
operating
project
according
to law, it
shall be
obtained
before
operation.)
Production
of
energy-savi
ng lighting
products,
lamps and
lighting
Nanjing equipments;
Fozhao lighting
Lighting projects;
Manufactur 110,130,46 65,480,961. 41,131,863. -2,723,15
Component Subsidiary energy-savi 41,683,200. -1,870,023.19
e 1.03 53 01 7.01
s ng 00
Manufacturi technology
ng Co., Ltd. developmen
t and
production
of relevant
fittings; sale
of
self-produc
ed products
Production
and sale of
equipments
and
products of
electric
FSL
light
(Xinxiang) Manufactur 45,245,219. 38,715,450. 16,487,674. 2,307,336
Subsidiary source; and 35,418,439. 877,114.95
Lighting e 67 04 20 .66
sale of 76
Co., Ltd.
components
of electric
light
source,
related
materials,
23
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
electrical
materials,
automobile
components
, lamps and
fittings
Financing
lease, lease,
lease
consulting
and
guaranty,
financing
Guangdong
lease
Fozhao
service for 218,142,30 217,813,17 3,217,065
Financing Subsidiary Finance 200,000,00 0.00 2,412,784.38
new-energy 7.15 9.07 .84
Lease Co., 0.00
automobiles
Ltd.
& main
components
,
energy-savi
ng lighting
products &
projects
R&D and
production
of electric
light source
products,
equipment,
fittings,
electrical
FSL
materials,
Lighting
manufactur automobile 42,136,507. 30,439,207. 88,861,975. 3,478,606
Equipment Subsidiary 15,000,000. 2,764,081.00
e components 06 91 45 .77
Co., Ltd. 00
, home
appliances,
socket
outlets,
power
switches,
fire-protecti
on
products,
24
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
ventilation
equipment,
LED
products,
etc.;
domestic
trade,
import and
export of
technology
and goods
Licensed
operations:
naught.
General
operations:
developmen
t,
production
and sale of
semi-condu
ctor lighting
utensils,
drive circuit
and control
Suzhou system
Mont Manufactur software 51,974,600. 17,699,704. 21,929,521. -9,781,53
Subsidiary 23,634,900. -8,231,340.65
Lighting e and 74 86 76 4.90
00
Co., Ltd. hardware
systems;
(produced
only by
branches)
design and
installation
of lighting
engineering
; import &
export of
semi-condu
ctor lighting
components
and
25
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
utensils,
drive circuit
and control
system
software
and
hardware
systems
5. Significant projects invested with non-raised funds
□ Applicable √ Inapplicable
No such cases in the reporting period.
VI. Predict the operating results of Jan.-Sept. 2015
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 27 May 2015, the “Preplan for Profit Allocation for 2014” was reviewed and approved at the 2014 Annual
Shareholders’ General Meeting held by the Company. As the profit allocation plan for 2014, the Company, based
on the total 978,563,745 shares as at the end of 2014, distributed a cash dividend of RMB 2.20 (tax included;
dividends for B-share holders paid in HKD) and grant three additional shares with capital reserves for every 10
26
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
shares held by its shareholders of A share and B share. On 5 June 2015, the Company disclosed the
“Announcement of the Implementation of Profit Allocation and Capitalization of Capital Reserves for 2014” and
determined that A shares’ date of record was on 11 June 2015, ex-dividend date on 12 June 2015, the last trading
date of B shares on 11 June 2015 and the ex-dividend date on 12 June 2015. B shares’ date of record was on 16
June 2015. At the end of the reporting period, the implementation of profit allocation plan for 2014 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
Production and
Individual
9 January 2015 The Company By phone Individual operation of the
investor
Company
20 January 2015 The Company By phone Individual Individual Production and
27
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
investor operation of the
Company
Production and
Individual
13 March 2015 The Company By phone Individual operation of the
investor
Company
Production and
Individual
16 April 2015 The Company By phone Individual operation of the
investor
Company
Individual
28 April 2015 The Company By phone Individual Dividends for 2014
investor
Individual
1 June 2015 The Company By phone Individual Dividends for 2014
investor
Individual Lawsuit progress of the
5 June 2015 The Company By phone Individual
investor Company
28
2015 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. Lawsuits
Significant lawsuits or arbitrations
√ Applicable □ Inapplicable
Amount Trial result and Enforcement on
Basic information Progress of
involved in Any estimated influence of the the judgment of Disclosure Disclosure
of the lawsuit the lawsuit
the lawsuit liabilities? lawsuit the lawsuit date index
(arbitration) (arbitration)
(arbitration) (arbitration) (arbitration)
In Mar. 2013, On 4 June At the end of
Announcem
CSRC Guangdong 2015, the 2014, the
Up to 25 August ent title:
administered an Company Company made
2015, the Announcem
administrative received the projected liability
RMB 160.533 Company has ent on
punishment on the Civil provisions of
million and Yes paid 23 July 2015 Compensati
illegal information Judgment RMB 61.4383
HKD 82,000 compensations on
disclosure of the from million for the
to 1162 Reception;
Company. During Guangdong compensations
plaintiffs. Announcem
the period from High Court, and court costs for
ent No.:
September 2013 to pronouncing the 955 cases
29
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
January 2014, against the according to the 2015-034;
1,187 plaintiffs Company’s judgments of the Website of
separately sued the appeal first trial. In the disclosure:
Company to against the first half of 2015, http://www.
Guangzhou civil the Company cninfo.com.
Intermediate judgments made projected cn
People’s Court for involving liability provisions
false securities 955 cases of RMB 14.1677
statement, issued by million for the
demanding civil Guangzhou compensations
compensations Intermediate and court costs for
from the Company Court the 222 cases
for its illegal during according to the
information November judgments of the
disclosure. and first trial.
December
2014 and
affirming
the original
judgments.
On 8 July
2015, the
Company
received a
third civil
judgment
from
Guangzhou
Intermediate
Court,
ruling the
Company to
compensate
222
plaintiffs’
loss with
RMB
13.9237
million and
bear the
court
acceptance
fee of RMB
244,000.
30
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
In Mar. 2013,
CSRC Guangdong
administered an
administrative
punishment on the Announcem
illegal information ent title:
disclosure of the Announcem
The lawsuits are
Company. 116 ent on
still in trial with
plaintiffs Lawsuit
no judgment.
separately sued the Matters;
RMB 22.5254 Therefore, the
Company to Announcem
million and No Ongoing influence of these Inapplicable 15 Mar. 2014
Guangzhou ent No.:
HKD 546,600 lawsuits on the
Intermediate 2014-011;
Company is
People’s Court for Website of
unable to be
false securities disclosure:
known for now.
statement, http://www.
demanding civil cninfo.com.
compensations cn
from the Company
for its illegal
information
disclosure.
In Mar. 2013,
CSRC Guangdong
administered an
administrative
punishment on the Announcem
illegal information ent title:
disclosure of the Announcem
The lawsuits are
Company. 457 ent on
still in trial with
plaintiffs Lawsuit
no judgment.
separately sued the Matters;
Therefore, the
Company to RMB 82.2559 17 January Announcem
No Ongoing influence of these Inapplicable
Guangzhou million 2015 ent No.:
lawsuits on the
Intermediate 2015-004;
Company is
People’s Court for Website of
unable to be
false securities disclosure:
known for now.
statement, http://www.
demanding civil cninfo.com.
compensations cn
from the Company
for its illegal
information
disclosure.
31
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
In Mar. 2013,
CSRC Guangdong
administered an
administrative
punishment on the Announcem
illegal information ent title:
disclosure of the Announcem
The lawsuits are
Company. 519 ent on
still in trial with
plaintiffs Lawsuit
no judgment.
separately sued the Matters;
RMB 70.5764 Therefore, the
Company to 17 March Announcem
million and No Ongoing influence of these Inapplicable
Guangzhou 2015 ent No.:
HKD 699,400 lawsuits on the
Intermediate 2015-005;
Company is
People’s Court for Website of
unable to be
false securities disclosure:
known for now.
statement, http://www.
demanding civil cninfo.com.
compensations cn
from the Company
for its illegal
information
disclosure.
In Mar. 2013,
CSRC Guangdong
administered an
administrative
punishment on the Announcem
illegal information ent title:
disclosure of the Announcem
The lawsuits are
Company. 470 ent on
still in trial with
plaintiffs Lawsuit
no judgment.
separately sued the Matters;
Therefore, the
Company to RMB 48.0415 Announcem
No Ongoing influence of these Inapplicable 23 May 2015
Guangzhou million ent No.:
lawsuits on the
Intermediate 2015-020;
Company is
People’s Court for Website of
unable to be
false securities disclosure:
known for now.
statement, http://www.
demanding civil cninfo.com.
compensations cn
from the Company
for its illegal
information
disclosure.
32
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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
No such cases in the reporting period.
2. Sale of assets
□ Applicable √ Inapplicable
No such cases in the reporting period.
3. Business combination
□ Applicable √ Inapplicable
No such cases in 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
Transact Transact Proporti Approve Obtaina
Type of Content ion price ion on in the d Over Method ble
Related Pricing Disclo
the s of the (RMB amount total transacti approve of market Disclosu
transacti Relation principl sure
transacti transacti Ten (RMB amounts on line d line or settleme price for re date
on party e index
on on thousan Ten of (RMB not nt the
d) thousan transacti Ten transacti
33
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
d) ons of thousan on of
the same d) the same
kind (%) kind
(RMB
Ten
thousan
d)
Purchasi
Legal ng
Prosperi
person products
ty
that held and Purchas
Lamps www.c
over 5% receivin e of Market Remitta 27 Apr.
& 619.98 619.98 0.70% 700 No 619.98 ninfo.c
shares g labor material price nce 2015
Compon om.cn
of the service s
ents
Compan from the
Limited
y related
party
Purchasi
A
ng
Prosperi compan
products
ty y
and Purchas
Electric controll www.c
receivin e of Market Remitta 27 Apr.
al ed by 1,198.07 1.35% 3,000 No ninfo.c
g labor material price 1,198.07 nce 1,198.07 2015
(China) the om.cn
service s
Co., related
from the
Ltd. natural
related
person
party
Purchasi
A
Hangzh ng
compan
ou products
y
Times and Purchas
controll www.c
Lighting receivin e of Market Remitta 27 Apr.
ed by 188.61 188.61 0.21% 300 No 188.61 ninfo.c
and g labor material price nce 2015
the om.cn
Electric service s
related
al Co., from the
natural
Ltd. related
person
party
Prosperi A Purchasi
ty compan ng Purchas
www.c
(Xinxia y products e of Market Remitta 27 Apr.
16.91 16.91 0.02% 200 No 16.91 ninfo.c
ng) controll and equipme price nce 2015
om.cn
Lighting ed by receivin nts
Machine the g labor
34
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
ry Co., related service
Ltd. natural from the
person related
party
Selling
Legal
Prosperi products
person
ty and
that held
Lamps providin www.c
over 5% Sale of Market Remitta 27 Apr.
& g labor 1,651.34 0.95% 4,500 No 1,651.34 ninfo.c
shares products price 1,651.34 nce 2015
Compon service om.cn
of the
ents to the
Compan
Limited related
y
party
Prosperi A Selling
ty compan products
(Hangzh y and
ou) controll providin www.c
Sales of Market Remitta 27 Apr.
Lighting ed by g labor 123.19 123.19 0.07% 800 No 123.19 ninfo.c
products price nce 2015
and the service om.cn
Electric related to the
al Co., natural related
Ltd. person parties
A Selling
Prosperi compan products
ty y and
Electric controll providin www.c
Sales of Market Remitta 27 Apr.
al ed by g labor 47.60 47.6 0.03% 100 No 47.60 ninfo.c
products price nce 2015
(China) the service om.cn
Co., related to the
Ltd. natural related
person parties
An
acting-i
Selling
n-concer
products
OSRA t party
and
M of a
providin www.c
(China) legal Sales of Market Remitta 27 Apr.
g labor 826.78 826.78 0.48% 2,500 No 826.78 ninfo.c
Lighting person products price nce 2015
service om.cn
Co., that held
to the
Ltd. over 5%
related
shares
parties
of the
Compan
35
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
y
An
acting-i
n-concer Selling
t party products
of a and
Osram
legal providin www.c
Asia Sales of Market Remitta 27 Apr.
person g labor 663.45 663.45 0.38% 3,500 No 663.45 ninfo.c
Pacific products price nce 2015
that held service om.cn
Ltd.
over 5% to the
shares related
of the parties
Compan
y
Selling
Shangha A
products
i compan
and
Linxian y where
providin www.c
Mechani a related Selling Market Remitta 27 Apr.
g labor 10.94 10.94 0.01% 100 10.94 ninfo.c
cal & natural products price nce 2015
service om.cn
Electric person
to the
al Co., takes a
related
Ltd. post
party
Total -- -- 5,346.87 -- 15,700 -- -- -- -- --
Details of large-amount refunds Naught
Where the total amount of routine On 27 May 2015, the Company convened the 2014 Annual Shareholders’ General Meeting,
related-party transactions to occur in at which the “Proposal on the Routine Related-party Transactions for 2015” was reviewed
the reporting period had been and approved. It was estimated that the amount of procurement from related parties in 2015
predicted by type, give the actual would stand at RMB 44.70 million while the amount of sales to related parties at RMB 115
execution in the reporting period (if million. In the reporting period, the actual amount of purchase from related parties was RMB
any) 20.2357 million and that of sale to related parties was RMB 33.233 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.
36
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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.
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
37
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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.
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
This semi-annual report is not audited.
XII. Punishments and rectifications
□ Applicable √ Inapplicable
38
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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
In the reporting period, Hefei Guoxuan High-tech Power Energy Co., Ltd. (“Guoxuan High-tech”), where the
Company held a stake, successfully carried out a back door listing through Jiangsu Dongyuan Electrical Group
Co., Ltd. (“Dongyuan Electrical”) and the relevant asset transfer formalities were all completed. As such, the
shares held by the Company in Guoxuan High-tech were shifted to 73,006,150 shares held by the Company in
Dongyuan Electrical. These shares are restrictedly tradable shares which were listed on 15 May 2015 and shall not
be transferred within 12 months of the issuance completion date (for details, see Announcement No. 2015-018 on
Progress of Back Door Listing of Shareholding Company disclosed on www.cninfo.com.cn dated 14 May 2015).
39
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Section VI. Changes in Shares & Shareholders
I. Changes 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
I. Restricted shares 3,392,721 0.35% 1,017,816 65,520 1,083,336 4,476,057 0.35%
3. Shares held by other
3,392,721 0.35% 1,017,816 65,520 1,083,336 4,476,057 0.35%
domestic investors
Among which: shares held
3,057,918 0.31% 917,375 -15,367 902,008 3,959,926 0.31%
by domestic corporations
Shares held
by domestic natural 334,803 0.03% 100,441 80,887 181,328 516,131 0.04%
persons
975,171,0 292,551,3 292,485,7 1,267,656
99.65% -65,520 99.65%
II. Non-restricted shares 24 07 87 ,811
749,949,9 224,984,9 224,919,4 974,869,4
76.64% -65,520 76.63%
1. RMB ordinary shares 87 96 76 63
2. Domestically listed 225,221,0 67,566,31 67,566,31 292,787,3
23.02% 23.02%
foreign shares 37 1 1 48
978,563,7 293,569,1 293,569,1 1,272,132
III. Total shares 100.00% 100.00%
45 23 23 ,868
Reasons for any changes in shares:
√ Applicable □ Inapplicable
1. As resolved by the 2014 Annual General Meeting, the Company granted three additional shares with capital
reserves for every 10 shares held by all shareholders on 18 June 2015.
2. In the reporting period, the directors, supervisors and senior management staff of the Company increased their
shareholdings in the Company by 77,200 A-shares and 70,000 B-shares, representing an increase of 65,520
restricted shares.
3. In the reporting period, the ownership of 15,367 restricted shares was transferred from domestic corporations to
40
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
domestic individuals.
Approval of share changes
√ Applicable □ Inapplicable
On 27 May 2015, the “Preplan for Profit Allocation for 2014” was reviewed and approved at the 2014 Annual
Shareholders’ General Meeting held by the Company. As the profit allocation plan for 2014, the Company, based
on the total 978,563,745 shares as at the end of 2014, distributed a cash dividend of RMB 2.20 (tax included;
dividends for B-share holders paid in HKD) and grant three additional shares with capital reserves for every 10
shares held by its shareholders of A share and B share. The granted additional shares were 293,569,123 in total.
Transfer of share ownership
□ Applicable √ Inapplicable
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
In the reporting period, the Company completed granting three additional shares with capital reserves for every 10
shares held by all shareholders, and the total shares of the Company increased from 978,563,745 to 1,272,132,868.
And the effects of this change in shares on the basic EPS, diluted EPS, net assets per share attributable to common
shareholders of the Company and other financial indexes over the last year and the last reporting period are as
follows:
2014 First half of 2015
Item Based on old share Based on new share capital Based on new share capital
capital
Basic EPS (RMB Yuan/share) 0.2700 0.2092 0.0788
Diluted EPS (RMB 0.2700 0.2092 0.0788
Yuan/share)
Net assets per share (RMB 3.11 2.39 3.40
Yuan/share)
Other contents that the Company considers necessary or is required by the securities regulatory authorities to
disclose
□ Applicable √ Inapplicable
Changes in the total shares, shareholder structure, asset structure and liability structure
√ Applicable □ Inapplicable
In the reporting period, the Company completed granting three additional shares with capital reserves for every 10
shares held by all shareholders, and the total shares of the Company increased from 978,563,745 to
1,272,132,868.
41
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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 99,244 voting right at the end of the 0
reporting period reporting period (if any) (see
note 8)
Shareholdings of common shareholders holding more than 5% shares or top 10 common shareholders
Number Pledged or frozen shares
of Increase/de Number
Shareholdin common crease of of Number of
Name of Nature of g shares shares restricted non-restrict
Status of
shareholder shareholder percentage held at the during the common ed common Number of shares
shares
(%) end of the reporting shares shares held
reporting period held
period
OSRAM
Holding Foreign 171,360,3 171,360,39
13.47%
Company corporation 91 1
Limited
Prosperity
Lamps & Foreign 133,577,1 133,577,14
10.50%
Components corporation 43 3
Limited
Essence
International
Foreign 23,452,19
Securities 1.84% 23,452,194
corporation 4
(Hong Kong)
Co., Ltd.
DBS Vickers
Foreign 22,063,57
(Hong Kong) 1.73% 22,063,573
corporation 3
Ltd A/C Clients
National Social
11,500,04
Security Fund Other 0.90% 11,500,048
8
Portfolio 401
UOB Kay Hian
Foreign 11,041,72
(Hong Kong) 0.87% 11,041,721
corporation 1
Ltd.
10,821,37
Zhuang Jianyi Foreign individual 0.85% 10,821,372
2
China Other 0.51% 6,530,338 6,530,338
42
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Construction
Bank Co.,
Ltd.-Fullgoal
China
Securities New
Energy
Automobile
Index
Classification
Securities
Investment
Fund
Rongtong
Capital
Management-In
dustrial
Bank-Rongtong
Other 0.47% 6,008,390 6,008,390
Capital
Rongteng
Capital
Management
Plan No. 30
Domestic
Zhao Xiyi 0.45% 5,669,970 5,669,970
individual
Strategic investor or general
corporation becoming a top ten
Naught
common shareholder due to placing
of new shares (if any) (see Note 3)
Among the top ten shareholders of the Company, Prosperity Lamps & Components Limited
Explanation on associated
and Zhuang Jianyi were related parties and acting-in-concert parties. Apart from that, it’s
relationship or/and persons acting in
unknown whether there was any associated relationship among other shareholders of the top
concert among the above-mentioned
ten shareholders, or whether there is any action-in-concert among them regarding to
shareholders
Administrative Measures on Acquisition of Listed Companies.
Shareholdings of the top ten common shareholders holding non-restricted shares
Number of non-restricted common shares held at the Type of shares
Name of shareholder
period-end Type Number
RMB ordinary
OSRAM Holding Company Limited 171,360,391 171,360,391
share
Prosperity Lamps & Components RMB ordinary
133,577,143 133,577,143
Limited share
Essence International Securities 23,452,194 Domestically 23,452,194
43
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(Hong Kong) Co., Ltd. listed foreign
share
Domestically
DBS Vickers (Hong Kong) Ltd A/C
22,063,573 listed foreign 22,063,573
Clients
share
National Social Security Fund RMB ordinary
11,500,048 11,500,048
Portfolio 401 share
Domestically
UOB Kay Hian (Hong Kong) Ltd. 11,041,721 listed foreign 11,041,721
share
Domestically
Zhuang Jianyi 10,821,372 listed foreign 10,821,372
share
China Construction Bank Co.,
Ltd.-Fullgoal China Securities New
RMB ordinary
Energy Automobile Index 6,530,338 6,530,338
share
Classification Securities Investment
Fund
Rongtong Capital
Management-Industrial RMB ordinary
6,008,390 6,008,390
Bank-Rongtong Capital Rongteng share
Capital Management Plan No. 30
RMB ordinary
Zhao Xiyi 5,669,970 5,669,970
share
Explanation on associated
relationship or/and persons acting in
Among the top ten non-restricted tradable shareholders of the Company, Prosperity Lamps &
concert among the top ten
Components Limited and Zhuang Jianyi were related parties and acting-in-concert parties.
non-restricted common shareholders
Apart from that, it’s unknown whether there was any associated relationship among other
and between the top ten
shareholders of the top ten shareholders, or whether there is any action-in-concert among them
non-restricted common shareholders
regarding to Administrative Measures on Acquisition of Listed Companies.
and the top ten common
shareholders
Explanation on the top 10 common
shareholders participating in the
Naught
margin trading business (if any) (see
Note 4)
Did any of the top 10 common shareholders or the top 10 non-restricted common shareholders of the Company
conduct any promissory repo during the reporting period?
□ Yea √ No
No such cases in the reporting period.
44
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
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.
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.
45
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Section VII. Preference Shares
□ Applicable √ Inapplicable
No preference shares in the reporting period.
46
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Section VIII. Directors, Supervisors & Senior Management Staff
I. Changes in shareholdings of directors, supervisors and senior management staff
√ Applicable □ Inapplicable
Number of Number of Number of Number of
Number of
shares shares Number of granted restricted Number of
shares held
Incumbent increased decreased shares held restricted shares granted restricted
Name Office title at
/former at at at shares at granted in shares at
period-beg
reporting reporting period-end period-begin reporting period-end
inning
period period ning period
Chairman
Pan Jie of the Incumbent 0 43,000 55,900 0 0 0
Board
Vice
Chairman
Liu
and Incumbent 351,280 17,000 478,764 0 0 0
Xingming
General
Manager
Wu
Director Incumbent 0 0 0 0 0 0 0
Shengbo
Werner
Jrgen
Director Incumbent 0 0 0 0 0 0 0
Dietrich
Hoffmann
Ye Zaiyou Director Incumbent 0 0 0 0 0 0 0
Yang
Director Incumbent 0 0 0 0 0 0 0
Jianhu
Liu Independe
Incumbent 0 0 0 0 0 0 0
Zhenping nt Director
Dou Independe
Incumbent 0 0 0 0 0 0 0
Linping nt Director
Xue Independe
Incumbent 0 0 0 0 0 0 0
Yizhong nt Director
Chairman
Zhang of the
Incumbent 10,700 8,500 0 24,960 0 0 0
Yong Supervisor
y
Ye Supervisor Incumbent 20,560 2,000 0 29,328 0 0 0
47
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Zhenghon
g
Zhang
Supervisor Incumbent 6,400 2,300 0 11,311 0 0 0
Xuequan
Zhang
Supervisor Incumbent 0 0 0 0 0 0 0
Yingqi
Zhuang
Supervisor Incumbent 0 0 0 0 0 0 0
Rujia
Company
Lin Yihui Incumbent 0 10,000 0 13,000 0 0 0
Secretary
Yin
CFO Incumbent 0 27,000 0 35,100 0 0 0
Jianchun
Xie Qing Vice GM Incumbent 12,950 11,300 0 31,525 0 0 0
Wei Bin Vice GM Incumbent 15,684 10,600 0 34,169 0 0 0
Jiao
Vice GM Incumbent 22,880 9,000 0 41,444 0 0 0
Zhigang
Chen Yu Vice GM Incumbent 6,700 6,500 0 17,160 0 0 0
Total -- -- 447,154 147,200 0 772,661 0 0 0
II. Changes in directors, supervisors and senior management staff
□ Applicable √ Inapplicable
The directors, supervisors and senior management staff of the Company remained the same in the reporting period.
See the 2014 Annual Report for details.
48
2015 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.
30 June 2015
Unit: RMB Yuan
Item Closing balance Opening balance
Current assets:
Monetary funds 874,167,564.37 989,718,395.60
Settlement reserves
Intra-group lendings
Financial assets measured at fair
value of which changes are recorded in 2,608,830.00 20,320.00
current profits and losses
Derivative financial assets
Notes receivable 264,648,058.16 250,993,285.13
Accounts receivable 432,554,414.97 322,951,674.45
Accounts paid in advance 12,268,357.38 12,551,566.91
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract
reserves
Interest receivable 3,763,084.50 2,101,275.54
Dividend receivable
Other accounts receivable 62,835,147.39 74,122,844.63
Financial assets purchased under
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
agreements to resell
Inventories 604,817,756.95 625,794,972.48
Assets held for sale
Non-current assets due within 1 year
Other current assets 29,873,096.75 31,783,068.68
Total current assets 2,287,536,310.47 2,310,037,403.42
Non-current assets:
Loans by mandate and advances
granted
Available-for-sale financial assets 2,216,442,943.10 581,157,988.22
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 3,688,515.99 3,689,724.39
Investing real estate
Fixed assets 404,532,951.27 463,267,701.29
Construction in progress 108,164,692.97 90,862,098.21
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 184,040,240.20 187,114,129.71
R&D expense
Goodwill 7,360,330.45 7,360,330.45
Long-term deferred expenses 1,012,810.85 918,958.73
Deferred income tax assets 45,838,914.37 41,696,214.79
Other non-current assets 55,809,661.49 50,599,787.19
Total of non-current assets 3,026,891,060.69 1,426,666,932.98
Total assets 5,314,427,371.16 3,736,704,336.40
Current liabilities:
Short-term borrowings
Borrowings from the Central Bank
Customer bank deposits and due to
banks and other financial institutions
Intra-group borrowings
Financial liabilities measured at fair
50
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
value of which changes are recorded in
current profits and losses
Derivative financial liabilities
Notes payable
Accounts payable 437,532,017.64 399,330,968.48
Accounts received in advance 45,115,269.01 60,842,257.61
Financial assets sold and repurchased
Handling charges and commissions
payable
Payroll payable 54,084,786.23 58,315,210.64
Tax payable 51,205,333.20 13,881,113.81
Interest payable
Dividend payable
Other accounts payable 67,628,013.15 21,923,820.48
Reinsurance premiums payable
Insurance contract reserves
Payables for acting trading of
securities
Payables for acting underwriting of
securities
Liabilities held for sale
Non-current liabilities due within 1
year
Other current liabilities
Total current liabilities 655,565,419.23 554,293,371.02
Non-current liabilities:
Long-term borrowings
Bonds payable
Of which: preference shares
Perpetual bonds
Long-term payables
Long-term payroll payables
Specific payables
Estimated liabilities 14,167,695.69 61,438,275.16
Deferred income 11,240,166.48 10,955,833.27
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Deferred income tax liabilities 261,886,016.34 15,516,937.71
Other non-current liabilities
Total non-current liabilities 287,293,878.51 87,911,046.14
Total liabilities 942,859,297.74 642,204,417.16
Owners’ equity:
Share capital 1,272,132,868.00 978,563,745.00
Other equity instruments
Of which: preference shares
Perpetual bonds
Capital reserves 296,323,594.59 589,892,717.59
Less: Treasury stock
Other comprehensive income 1,467,986,919.85 72,150,338.69
Specific reserves
Surplus reserves 626,168,440.86 626,168,440.86
Provisions for general risks
Retained profits 662,785,213.85 777,810,478.44
Total equity attributable to owners of
4,325,397,037.15 3,044,585,720.58
the Company
Minority interests 46,171,036.27 49,914,198.66
Total owners’ equity 4,371,568,073.42 3,094,499,919.24
Total liabilities and owners’ equity 5,314,427,371.16 3,736,704,336.40
Legal representative: Pan Jie Chief of the accounting work: Pan Jie
Chief of the accounting organ: Yin Jianchun
2. Balance sheet of the Company
Unit: RMB Yuan
Item Closing balance Opening balance
Current assets:
Monetary funds 561,252,636.36 685,652,777.19
Financial assets measured at fair
value of which changes are recorded in 2,608,830.00 20,320.00
current profits and losses
Derivative financial assets
Notes receivable 252,656,728.32 240,920,585.13
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Accounts receivable 486,587,800.53 335,793,103.52
Accounts paid in advance 16,029,742.25 16,580,637.31
Interest receivable
Dividend receivable
Other accounts receivable 88,208,211.98 142,329,039.45
Inventories 568,893,276.72 578,978,618.17
Assets held for sale
Non-current assets due within 1 year
Other current assets 22,875,713.53 27,359,093.82
Total current assets 1,999,112,939.69 2,027,634,174.59
Non-current assets:
Available-for-sale financial assets 2,216,442,943.10 581,157,988.22
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 445,638,455.75 445,639,664.15
Investing real estate
Fixed assets 321,320,935.87 362,743,711.79
Construction in progress 105,942,688.57 88,784,906.41
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 122,880,876.90 125,206,977.08
R&D expense
Goodwill
Long-term deferred expenses
Deferred income tax assets 30,353,581.46 33,978,127.89
Other non-current assets 53,947,970.49 48,778,664.19
Total of non-current assets 3,296,527,452.14 1,686,290,039.73
Total assets 5,295,640,391.83 3,713,924,214.32
Current liabilities:
Short-term borrowings
Financial liabilities measured at fair
value of which changes are recorded in
current profits and losses
53
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Derivative financial liabilities
Notes payable
Accounts payable 530,808,134.21 447,190,248.26
Accounts received in advance 43,515,890.51 56,335,813.10
Payroll payable 41,934,205.11 56,655,167.35
Tax payable 39,192,765.81 5,496,341.46
Interest payable
Dividend payable
Other accounts payable 98,151,906.12 89,738,558.57
Liabilities held for sale
Non-current liabilities due within 1
year
Other current liabilities
Total current liabilities 753,602,901.76 655,416,128.74
Non-current liabilities:
Long-term borrowings
Bonds payable
Of which: preference shares
Perpetual bonds
Long-term payables
Long-term payroll payables
Specific payables
Estimated liabilities 14,167,695.69 61,438,275.16
Deferred income 10,542,666.45 10,180,833.31
Deferred income tax liabilities 259,248,729.84 12,733,711.71
Other non-current liabilities
Total non-current liabilities 283,959,091.98 84,352,820.18
Total liabilities 1,037,561,993.74 739,768,948.92
Owners’ equity:
Share capital 1,272,132,868.00 978,563,745.00
Other equity instruments
Of which: preference shares
Perpetual bonds
Capital reserves 293,418,663.91 586,987,786.91
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Less: Treasury stock
Other comprehensive income 1,467,986,919.85 72,150,338.69
Specific reserves
Surplus reserves 626,168,440.86 626,168,440.86
Retained profits 598,371,505.47 710,284,953.94
Total owners’ equity 4,258,078,398.09 2,974,155,265.40
Total liabilities and owners’ equity 5,295,640,391.83 3,713,924,214.32
Legal representative: Pan Jie Chief of the accounting work: Pan Jie
Chief of the accounting organ: Yin Jianchun
3. Consolidated income statement
Unit: RMB Yuan
Item Reporting period Same period of last year
I. Operating revenues 1,524,362,786.49 1,543,058,758.03
Including: Sales income 1,524,362,786.49 1,543,058,758.03
Interest income
Premium income
Handling charge and commission
income
II. Operating costs 1,409,903,896.94 1,336,550,333.42
Including: Cost of sales 1,166,043,441.01 1,156,217,280.15
Interest expenses
Handling charge and commission
expenses
Surrenders
Net claims paid
Net amount withdrawn for the
insurance contract reserve
Expenditure on policy dividends
Reinsurance premium
Taxes and associate charges 11,924,833.78 15,129,954.30
Selling and distribution expenses 82,224,380.27 62,967,912.93
Administrative expenses 114,295,848.69 104,495,339.45
Financial expenses -11,207,940.80 -5,733,347.63
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Asset impairment loss 46,623,333.99 3,473,194.22
Add: Gain/(loss) from change in fair
1,272,770.46 1,115,756.46
value (“-” means loss)
Gain/(loss) from investment (“-”
20,709,165.82 18,115,405.78
means loss)
Including: share of profits in
-1,208.40 -2,310,773.80
associates and joint ventures
Foreign exchange gains (“-” means
loss)
III. Business profit (“-” means loss) 136,440,825.83 225,739,586.85
Add: non-operating income 2,944,702.35 3,294,367.06
Including: Gains on disposal of
6,114.53 3,458.00
non-current assets
Less: non-operating expense 14,936,164.15 115,455.48
Including: Losses on disposal of
397,124.46 109,843.02
non-current assets
IV. Total profit (“-” means loss) 124,449,364.03 228,918,498.43
Less: Income tax expense 27,933,767.11 41,689,863.95
V. Net profit (“-” means loss) 96,515,596.92 187,228,634.48
Net profit attributable to owners of
100,258,759.31 188,959,139.45
the Company
Minority shareholders’ income -3,743,162.39 -1,730,504.97
VI. After-tax net amount of other
1,395,836,581.16 -2,401,770.34
comprehensive incomes
After-tax net amount of other
comprehensive incomes attributable to 1,395,836,581.16 -2,401,770.34
owners of the Company
(I) Other comprehensive incomes
that will not be reclassified into gains and
losses
1. Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
2. Enjoyable shares in other
comprehensive incomes in investees that
cannot be reclassified into gains and
losses under the equity method
(II) Other comprehensive incomes 1,395,836,581.16 -2,401,770.34
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
that will be reclassified into gains and
losses
1. Enjoyable shares in other
comprehensive incomes in investees that
will be reclassified into gains and losses
under the equity method
2. Gains and losses on fair
value changes of available-for-sale 1,395,836,581.16 -2,401,770.34
financial assets
3. Gains and losses on
reclassifying held-to-maturity
investments into available-for-sale
financial assets
4. Effective hedging gains and
losses on cash flows
5. Foreign-currency financial
statement translation difference
6. Other
After-tax net amount of other
comprehensive incomes attributable to 0.00 0.00
minority shareholders
VII. Total comprehensive incomes 1,492,352,178.08 184,826,864.14
Attributable to owners of the
1,496,095,340.47 186,557,369.11
Company
Attributable to minority
-3,743,162.39 -1,730,504.97
shareholders
VIII. Earnings per share
(I) Basic earnings per share 0.0788 0.1485
(II) Diluted earnings per share 0.0788 0.1485
Where business mergers under the same control occurred in this reporting period, the net profit achieved by the merged
parties before the business mergers was RMB 0.00, with the corresponding amount for the last period being RMB 0.00.
Legal representative: Pan Jie Chief of the accounting work: Pan Jie
Chief of the accounting organ: Yin Jianchun
4. Income statement of the Company
Unit: RMB Yuan
Item Reporting period Same period of last year
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
I. Total sales 1,549,599,454.38 1,570,233,178.58
Less: cost of sales 1,213,318,424.48 1,211,678,092.30
Business taxes and surcharges 7,609,200.08 11,194,128.07
Distribution expenses 79,948,452.69 60,991,976.26
Administrative expenses 91,564,361.63 89,859,368.24
Financial costs -7,145,592.94 -1,916,558.81
Impairment loss 43,024,657.06 2,949,407.02
Add: gain/(loss) from change in fair
1,272,770.46 1,115,756.46
value (“-” means loss)
Gain/(loss) from investment (“-”
20,709,165.82 23,003,450.66
means loss)
Including: income form investment
-1,208.40 -2,310,773.80
on associates and joint ventures
II. Business profit (“-” means loss) 143,261,887.66 219,595,972.62
Add: non-operating income 2,326,541.73 3,124,825.27
Including: Gains on disposal of
6,114.53 3,458.00
non-current assets
Less: non-operating expense 14,835,525.95 66,956.52
Including: Losses on disposal of
296,633.20 61,753.86
non-current assets
III. Total profit (“-” means loss) 130,752,903.44 222,653,841.37
Less: Income tax expense 27,382,328.01 36,207,378.53
IV. Net profit (“-” means loss) 103,370,575.43 186,446,462.84
V. After-tax net amount of other
1,395,836,581.16 -2,401,770.34
comprehensive incomes
(I) Other comprehensive incomes that
will not be reclassified into gains and
losses
1. Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
2. Enjoyable shares in other
comprehensive incomes in investees
that cannot be reclassified into gains
and losses under the equity method
(II) Other comprehensive incomes
that will be reclassified into gains and 1,395,836,581.16 -2,401,770.34
losses
58
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
1. Enjoyable shares in other
comprehensive incomes in investees
that will be reclassified into gains and
losses under the equity method
2. Gains and losses on fair value
changes of available-for-sale financial 1,395,836,581.16 -2,401,770.34
assets
3. Gains and losses on
reclassifying held-to-maturity
investments into available-for-sale
financial assets
4. Effective hedging gains and
losses on cash flows
5. Foreign-currency financial
statement translation difference
6. Other
VI. Total comprehensive incomes 1,499,207,156.59 184,044,692.50
VII. Earnings per share
(I) Basic earnings per share
(II) Diluted earnings per share
Legal representative: Pan Jie Chief of the accounting work: Pan Jie
Chief of the accounting organ: Yin Jianchun
5. Consolidated cash flow statement
Unit: RMB Yuan
Item Reporting period Same period of last year
I. Cash flows from operating activities:
Cash received from sale of
1,345,802,227.80 1,333,941,842.20
commodities and rendering of service
Net increase of deposits from
customers and dues from banks
Net increase of loans from the central
bank
Net increase of funds borrowed from
other financial institutions
Cash received from premium of
59
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
original insurance contracts
Net cash received from reinsurance
business
Net increase of deposits of policy
holders and investment fund
Net increase of disposal of financial
assets measured at fair value of which
changes are recorded into current gains
and losses
Cash received from interest, handling
charges and commissions
Net increase of intra-group
borrowings
Net increase of funds in repurchase
business
Tax refunds received 23,274,910.75 34,520,178.28
Other cash received relating to
13,548,303.57 14,364,024.05
operating activities
Subtotal of cash inflows from operating
1,382,625,442.12 1,382,826,044.53
activities
Cash paid for goods and services 821,473,245.91 802,239,813.12
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 278,388,347.81 264,418,513.80
Various taxes paid 87,254,513.50 105,888,683.00
Other cash payment relating to
96,234,987.20 71,837,267.84
operating activities
Subtotal of cash outflows from
1,283,351,094.42 1,244,384,277.76
operating activities
Net cash flows from operating activities 99,274,347.70 138,441,766.77
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
II. Cash flows from investing activities:
Cash received from withdrawal of
5,059,989.08 45,630,194.24
investments
Cash received from return on
21,210,374.44 22,174,444.40
investments
Net cash received from disposal of
fixed assets, intangible assets and other 37,188.00
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 investing
26,307,551.52 67,804,638.64
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 37,016,288.54 38,813,026.30
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
37,016,288.54 89,148,970.26
investing activities
Net cash flows from investing activities -10,708,737.02 -21,344,331.62
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
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Subtotal of cash inflows from financing
2,452.04
activities
Repayment of borrowings
Cash paid for interest expenses and
204,113,711.36 149,551,837.14
distribution of dividends or profit
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
204,113,711.36 151,586,137.14
financing activities
Net cash flows from financing activities -204,113,711.36 -151,583,685.10
IV. Effect of foreign exchange rate
-2,730.55 -1,773,859.83
changes on cash and cash equivalents
V. Net increase in cash and cash
-115,550,831.23 -36,260,109.78
equivalents
Add: Opening balance of cash and
989,718,395.60 897,675,824.22
cash equivalents
VI. Closing balance of cash and cash
874,167,564.37 861,415,714.44
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
Unit: RMB Yuan
Item Reporting period Same period of last year
I. Cash flows from operating activities:
Cash received from sale of
1,295,186,863.29 1,312,983,459.34
commodities and rendering of service
Tax refunds received 23,117,146.79 34,520,178.28
Other cash received relating to
10,252,907.40 12,846,878.11
operating activities
Subtotal of cash inflows from operating
1,328,556,917.48 1,360,350,515.73
activities
Cash paid for goods and services 999,081,013.91 970,871,859.20
Cash paid to and for employees 115,370,248.82 112,196,258.40
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Various taxes paid 36,865,141.68 66,645,790.86
Other cash payment relating to
89,721,510.45 66,072,257.30
operating activities
Subtotal of cash outflows from
1,241,037,914.86 1,215,786,165.76
operating activities
Net cash flows from operating activities 87,519,002.62 144,564,349.97
II. Cash flows from investing activities:
Cash received from withdrawal of
5,059,989.08 45,630,194.24
investments
Cash received from return on
21,210,374.44 27,062,489.28
investments
Net cash received from disposal of
fixed assets, intangible assets and other 17,188.00
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 investing
26,287,551.52 72,692,683.52
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 34,075,558.41 33,138,309.48
assets
Cash paid for investment 63,183,057.64
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
investing activities
Subtotal of cash outflows from
34,075,558.41 96,321,367.12
investing activities
Net cash flows from investing activities -7,788,006.89 -23,628,683.60
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Cash received from borrowings
Cash received from issuance of
bonds
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Other cash received relating to
financing activities
Subtotal of cash inflows from financing
activities
Repayment of borrowings
Cash paid for interest expenses and
204,113,711.36 147,665,237.14
distribution of dividends or profit
Other cash payments relating to
financing activities
Sub-total of cash outflows from
204,113,711.36 147,665,237.14
financing activities
Net cash flows from financing activities -204,113,711.36 -147,665,237.14
IV. Effect of foreign exchange rate
-17,425.20 -1,773,859.83
changes on cash and cash equivalents
V. Net increase in cash and cash
-124,400,140.83 -28,503,430.60
equivalents
Add: Opening balance of cash and
685,652,777.19 581,390,386.39
cash equivalents
VI. Closing balance of cash and cash
561,252,636.36 552,886,955.79
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
Reporting period
Unit: RMB Yuan
Reporting period
Equity attributable to owners of the Company
Other equity
Other Minorit Total
Item instruments Less: General
Share Capital compre Specific Surplus Retaine y owners’
Prefer Perpet treasury risk
capital reserve hensive reserve reserve d profit interests equity
ence ual Other stock reserve
incomes
shares bonds
I. Balance at the 978,56 3,094,4
589,892 72,150, 626,168 777,810 49,914,
end of the 3,745. 99,919.
,717.59 338.69 ,440.86 ,478.44 198.66
previous year 00 24
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Add: change of
accounting policy
Correction of
errors in previous
periods
Business
mergers under the
same control
Other
II. Balance at the 978,56 3,094,4
589,892 72,150, 626,168 777,810 49,914,
beginning of the 3,745. 99,919.
,717.59 338.69 ,440.86 ,478.44 198.66
year 00 24
III. Increase/
293,56 -293,56 1,395,8 -115,02 1,277,0
decrease in the -3,743,1
9,123. 9,123.0 36,581. 5,264.5 68,154.
period (“-” means 62.39
00 0 16 9 18
decrease)
(I) Total 1,395,8 1,492,3
100,258 -3,743,1
comprehensive 36,581. 52,178.
,759.31 62.39
incomes 16 08
(II) Capital
increased and
reduced by owners
1. Common
shares increased
by shareholders
2. Capital
increased by
holders of other
equity instruments
3. Amounts
of share-based
payments
recognized in
owners’ equity
4. Other
-215,28 -215,28
(III) Profit
4,023.9 4,023.9
distribution
0 0
1.
Appropriations to
65
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
surplus reserves
2.
Appropriations to
general risk
provisions
3.
-215,28 -215,28
Appropriations to
4,023.9 4,023.9
owners (or
0 0
shareholders)
4. Other
(IV) Internal 293,56 -293,56
carry-forward of 9,123. 9,123.0 0.00
owners’ equity 00 0
1. New
increase of capital 293,56 -293,56
(or share capital) 9,123. 9,123.0 0.00
from capital public 00 0
reserves
2. New
increase of capital
(or share capital)
from surplus
reserves
3. Surplus
reserves for
making up losses
4. Other
(V) Specific
reserve
1. Withdrawn
for the period
2. Used in the
period
(VI) Other
1,272, 1,467,9 4,371,5
IV. Closing 296,323 626,168 662,785 46,171,
132,86 86,919. 68,073.
balance ,594.59 ,440.86 ,213.85 036.27
8.00 85 42
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Same period of last year
Unit: RMB Yuan
Same period of last year
Equity attributable to owners of the Company
Other equity Minorit
Other Total
Item instruments Less: General y
Share Capital compre Specific Surplus Retaine owners’
treasury risk interest
Prefer Perpet equity
capital reserve hensive reserve reserve d profit
stock reserve s
ence ual Other
incomes
shares bonds
I. Balance at the 978,56 2,925,3
589,876 27,717, 622,494 671,929 34,805,
end of the 3,745. 87,050.
,519.74 587.47 ,531.96 ,537.57 128.86
previous year 00 60
Add: change of
accounting policy
Correction of
errors in previous
periods
Business
mergers under the
same control
Other
II. Balance at the 978,56 2,925,3
589,876 27,717, 622,494 671,929 34,805,
beginning of the 3,745. 87,050.
,519.74 587.47 ,531.96 ,537.57 128.86
year 00 60
III. Increase/
decrease in the -2,401,7 32,388, 13,579, 43,566,
period (“-” means 70.34 940.25 265.79 435.70
decrease)
(I) Total
-2,401,7 188,959 -1,730, 184,826
comprehensive
70.34 ,139.45 504.97 ,864.14
incomes
(II) Capital
17,404, 17,404,
increased and
647.14 647.14
reduced by owners
1. Common
shares increased
by shareholders
2. Capital
increased by
holders of other
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
equity instruments
3. Amounts
of share-based
payments
recognized in
owners’ equity
17,404, 17,404,
4. Other
647.14 647.14
-156,57 -158,66
(III) Profit -2,094,
0,199.2 5,075.5
distribution 876.38
0 8
1.
Appropriations to
surplus reserves
2.
Appropriations to
general risk
provisions
3.
-156,57 -158,66
Appropriations to -2,094,
0,199.2 5,075.5
owners (or 876.38
0 8
shareholders)
4. Other
(IV) 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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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(V) Specific
reserve
1. Withdrawn
for the period
2. Used in the
period
(VI) Other
978,56 2,968,9
IV. Closing 589,876 25,315, 622,494 704,318 48,384,
3,745. 53,486.
balance ,519.74 817.13 ,531.96 ,477.82 394.65
00 30
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
Reporting period
Unit: RMB Yuan
Reporting period
Other equity instruments Other
Less: Total
Item Share Capital comprehe Specific Surplus Retaine
Prefere
Perpetu treasury owners’
capital nce Other reserve nsive reserve reserve d profit
al bonds stock equity
shares incomes
I. Balance at the
978,563, 586,987,7 72,150,33 626,168,4 710,284 2,974,155
end of the previous
745.00 86.91 8.69 40.86 ,953.94 ,265.40
year
Add: change of
accounting policy
Correction of
errors in previous
periods
Other
II. Balance at the
978,563, 586,987,7 72,150,33 626,168,4 710,284 2,974,155
beginning of the
745.00 86.91 8.69 40.86 ,953.94 ,265.40
year
III. Increase/
-111,91
decrease in the 293,569, -293,569, 1,395,836 1,283,923
3,448.4
period (“-” means 123.00 123.00 ,581.16 ,132.69
7
decrease)
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(I) Total
1,395,836 103,370 1,499,207
comprehensive
,581.16 ,575.43 ,156.59
incomes
(II) Capital
increased and
reduced by owners
1. Common
shares increased
by shareholders
2. Capital
increased by
holders of other
equity instruments
3. Amounts
of share-based
payments
recognized in
owners’ equity
4. Other
-215,28
(III) Profit -215,284,
4,023.9
distribution 023.90
0
1.
Appropriations to
surplus reserves
2.
-215,28
Appropriations to -215,284,
4,023.9
owners (or 023.90
0
shareholders)
3. Other
(IV) Internal
293,569, -293,569,
carry-forward of
123.00 123.00
owners’ equity
1. New
increase of capital
293,569, -293,569,
(or share capital)
123.00 123.00
from capital public
reserves
2. New
increase of capital
(or share capital)
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
from surplus
reserves
3. Surplus
reserves for
making up losses
4. Other
(V) Specific
reserve
1. Withdrawn
for the period
2. Used in the
period
(VI) Other
IV. Closing 1,272,13 293,418,6 1,467,986 626,168,4 598,371 4,258,078
balance 2,868.00 63.91 ,919.85 40.86 ,505.47 ,398.09
Same period of last year
Unit: RMB Yuan
Same period of last year
Other equity instruments Other
Less: Total
Item Share Capital comprehe Specific Surplus Retaine
Prefere
Perpetu treasury owners’
capital nce Other reserve nsive reserve reserve d profit
al bonds stock equity
shares incomes
I. Balance at the
978,563, 586,971,5 27,717,58 622,494,5 632,837 2,848,584
end of the previous
745.00 89.06 7.47 31.96 ,008.55 ,462.04
year
Add: change of
accounting policy
Correction of
errors in previous
periods
Other
II. Balance at the
978,563, 586,971,5 27,717,58 622,494,5 632,837 2,848,584
beginning of the
745.00 89.06 7.47 31.96 ,008.55 ,462.04
year
III. Increase/
decrease in the -2,401,77 29,876, 27,490,69
16,197.85
period (“-” means 0.34 263.64 1.15
decrease)
(I) Total -2,401,77 186,446 184,044,6
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
comprehensive 0.34 ,462.84 92.50
incomes
(II) Capital
increased and
reduced by owners
1. Common
shares increased
by shareholders
2. Capital
increased by
holders of other
equity instruments
3. Amounts
of share-based
payments
recognized in
owners’ equity
4. Other
-156,57
(III) Profit -156,570,
0,199.2
distribution 199.20
0
1.
Appropriations to
surplus reserves
2.
-156,57
Appropriations to -156,570,
0,199.2
owners (or 199.20
0
shareholders)
3. Other
(IV) 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
72
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
reserves
3. Surplus
reserves for
making up losses
4. Other
(V) Specific
reserve
1. Withdrawn
for the period
2. Used in the
period
(VI) Other 16,197.85 16,197.85
IV. Closing 978,563, 586,987,7 25,315,81 622,494,5 662,713 2,876,075
balance 745.00 86.91 7.13 31.96 ,272.19 ,153.19
Legal representative: Pan Jie Chief of the accounting work: Pan Jie
Chief of the accounting organ: Yin Jianchun
III. Company profile
1. Overview of the Company
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 1,272,132,868.00.
The registration code for corporate business license is QGYZZ No. 002889.
Legal representative: Mr. Pan Jie
Address: No. 64, Fenjiang North Road, Foshan, Guangdong Province
2. Business Scope of the Company
R&D and production of electro-optical source products, electro-optical source equipment and electro-optical accessories, raw materials of
electric light sources, lamps & fittings, electrical materials, motorcycle components, household appliances, electric switches, electrical outlets,
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
fire control products, ventilation devices, LED products, lithium ion batteries and relevant materials; domestic and overseas sale of the aforesaid
products; relevant engineering consulting services. (Where a license is required, it must be obtained according to the government’s rules before
operation.)
3. Consolidation financial statement scope
The consolidation scope of the financial statement including the Company and the 9 subordinate subsidiaries such as Foshan Chanchang Electric
Appliance (Gaoming) Co., Ltd., Foshan Chansheng Electronic Ballast Co., Ltd., Foshan Taimei Times Lamps and Lanterns Co., Ltd., Suzhou
Mont Lighting Co., Ltd., Nanjing Fozhao Lighting Components Co., Ltd., FSL (Xinxiang) Lighting Co., Ltd., Foshan Electrical and Lighting
New Light Source Technology Co., Ltd., Guangdong Fozhao Leasing Co., Ltd., and Foshan Lighting Lamps & Components Co., Ltd.
4. Approval and Issue of the Financial Report
The Financial Report was approved and authorized for issue by the Board of Directors on 25 Aug. 2015.
II. Basis for preparation of financial statements
1. Preparation basis
With the going-concern assumption as the basis and based on transactions and other events that actually occurred, the Group prepared financial
statements in accordance with the Application Guidance of Accounting Standards for Business Enterprises, the Interpretation of Accounting
Standards for Business Enterprises and other regulations issued and revised from 15 Feb. 2006 onwards (hereinafter jointly referred to as “the
Accounting Standards for Business Enterprises”, “China Accounting Standards” or “CAS”)。
2. Continuation
There will be no such events or situations in the 12 months from the end of the reporting period that will cause material doubts as to the
continuation capability of the Company.
V. Important accounting policies and estimations
Reminders of the specific accounting policies and accounting estimations:
Naught
1. Statement of Compliance with the Accounting Standards for Business Enterprises
The financial statements prepared by the Group are in compliance with in compliance with the Accounting Standards for Business Enterprises,
which factually and completely present the Company’s, and the Group’s financial positions as at 31 Dec. 2014, business results and cash flows
for the year of 2014, and other relevant information.
2. Fiscal Year
A fiscal year starts on 1 January and ends on 31 Dec. according to the Gregorian calendar.
3. Operating cycle
A normal operating cycle refers to a period from the Group purchasing assets for processing to realizing cash or cash equivalents. An operating
cycle for the Group is 12 months, which is also the classification criterion for the liquidity of its assets and liabilities.
4. Recording Currency
Renminbi is the recording currency for the Company.
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
5. Accounting treatment methods for business combinations under the same control or not under the same control
(1) Business combinations under the same control
A business combination under the same control is a business combination in which all of the combining enterprises are ultimately controlled by
the same party or the same parties both before and after the business combination and on which the control is not temporary. In a business
combination under the same control, the party which obtains control of other combining enterprise(s) on the combining date is the combining
party, the other combining enterprise(s) is (are) the combined party. The “combining date” refers to the date on which the combining party
actually obtains control on the combined party.
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 (or the total par value of the shares issued), the additional paid-in capital (share premium)
shall be adjusted. If the additional paid-in capital (share premium) is not sufficient to be offset, the retained earnings shall be adjusted.
Consolidation date is the date that the combine party actually acquired the control right on the combined party.
(2) Business combinations not under the same control
A business combination not under the same control is a business combination in which the combining enterprises are not ultimately controlled by
the same party or the same parties both before and after the business combination.
Among a business combination not under the same control, for the Intermediary fee and other relevant management expenses such as the
expenses for audit, legal services and assessment, and other administrative expenses of the purchase party, which are recorded into the profits
and losses in the current period; The trading expenses for the equity securities or debt securities issued by the acquirer as the combination
consideration shall be recorded into the amount of initial measurement of the equity securities or debt securities. As for the difference between
the fair value of the paid assets and its book value, should be included in the current gains and losses. Purchase date refers to the date that the
combine party actually acquired the control right on the combined party.
The purchase party executes the distribution of the combined cost on the purchase date and recognizes the fair value of each identifiable assets,
liabilities or contingent liabilities acquired from the purchased party. The acquirer shall recognize the positive balance between the combination
costs and the fair value of the identifiable net assets it obtains from the acquiree as business reputation; the difference that the combined cost
smaller than the fair value of the identifiable net assets acquired from the purchased party should be included in the gains and losses.
6. Methods for preparing consolidated financial statements
(1) Principle for determining the consolidation scope
Recognize the consolidation scope of the consolidated financial statements based on control and the special purpose entities controlled by the
parent company are also included in the consolidation scope of the consolidated financial statements. Exemption clause: if the parent company is
the investment entity and without any subsidiary that provides the relevant service for the investment activities, should not compile the
consolidated financial statements.
(2) Adopted accounting methods of the consolidated statements
The Company includes the subsidiaries and the special purpose entities with actual control rights into the scope of the consolidated financial
75
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
statements.
The Company compiles the consolidated financial statement according to the No. 33 of ASBE-Consolidated Financial Statement and the relevant
regulations and offset all the significant internal transactions and contracts within the consolidation scope when merger. Among the shareholders
equity of the subsidiaries which not attributed to the part that owned by the parent company, should be individually listed under the shareholders’
equity of the consolidated financial statement as the minority shareholders’ equity.
The financial statements of subsidiaries are necessary adjusted in accordance with the accounting policies and accounting period of the Group
during the preparation of the consolidated financial statements, where the accounting policies and the accounting periods are inconsistent
between the Group and subsidiaries when compiling the consolidated financial statements.
As for the subsidiaries acquired from the enterprise combine not under the same control, the individual financial statement should be adjusted
based on the fair value of the identifiable net assets on the purchase date when compiling the consolidated financial statements; as for the
subsidiaries acquired from the enterprise combine under the same control, should be regarded as exist as the current state when each involved
combine party starting to execute the control in the ultimate control party, and should include the assets, liabilities, operating results and the cash
flow in the consolidated financial statements since the year-begin of the combine period and to adjust the previous compared financial statement
according to the above principles.
When the disposing the subsidiary during the reporting period, should include the operating results and the cash flow from the period-begin to
the disposing date into the consolidated financial statement of the subsidiaries.
7. Classification of joint arrangements and accounting treatment of joint operations
A joint arrangement refers to an arrangement jointly controlled by two participants or above and be divided into joint operations and joint
ventures.
When the Company is the joint venture party of the joint operations, should recognize the following items related to the interests share of the
joint operations:
(1) Recognize the assets individually held and the assets jointly held by recognizing according to the holding share;
(2) Recognize the liabilities undertook individually and the liabilities jointly held by recognizing according to the holding share;
(3) Recognize the revenues occurred from selling the output share of the joint operations enjoy by the Company;
(4) Recognize the revenues occurred from selling the assets of the joint operations according to the holding share;
(5) Recognize the expenses individually occurred and the expenses occurred from the joint operations according to the holding share of the
Company.
When the Company is the joint operation party of the joint ventures, should recognize the investment of the joint ventures as the long-term equity
investment and be measured according g to the said methods of the notes of the long-term equity investment of the financial statement.
8. Recognition standard for cash and cash equivalents
In the Group’s understanding, cash and cash equivalents include cash on hand, any deposit that can be used for cover, and short-term (usually
due within 3 months since the day of purchase) and high circulating investments, which are easily convertible into known amount of cash and
whose risks in change of value are minimal.
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
9. Foreign currency and accounting method for foreign currency
(1) Foreign currency business
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) Translation of foreign currency financial statements
The asset and liability items in the balance sheets shall be translated at a spot exchange rate on the balance sheet date. Among the owner’s equity
items, except for the items as “undistributed profits”, other items shall be translated at the spot exchange rate at the time when they are incurred.
The revenues and the expenses items of the income statement should be translated according to the spot rate on the exchange date. The difference
of the foreign currency financial statements occurred from the above translation should be listed under the “other comprehensive income” item of
the owners’ equity of the consolidated financial statement. As for the foreign currency items which actually form into the net investment of the
foreign operation, the exchange difference occurred from the exchange rate changes should be listed under the “other comprehensive income” of
the owners’ equity among the consolidated financial statement when compile the consolidated financial statement. When disposing the foreign
operation, as for the discounted difference of the foreign financial statement related to the foreign operation should be transferred in the current
gains and losses according to the proportion. The foreign cash flow adopts the spot exchange rate on the occurring date of the cash flow. And the
influenced amount of the exchange rate changes should be individually listed among the cash flow statement.
10. Financial instruments
(1) Classification, recognition and measurement of financial assets
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.
① 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 transactional 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.
② Loan and accounts receivable: the non-derivative financial assets for which there is no quoted price in the active market and of which the
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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.
③Available-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
recognize the interests or the cash bonus acquired the holding period as the investment income, as well as directly include the profits or losses
formed by the changes of the fair value into the owners’ equity at the period-end, 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.
④ 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.
(2) Classification, Recognition and Measurement of Financial Liabilities
Financial liabilities shall be classified into the following two categories when they are initially recognized: (1) the transactional financial liabilities;
and (2) other financial liabilities. The financial liabilities initially recognized by the Company shall be measured at their fair values. For the
transactional 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.
① As for the financial liabilities measured by fair value and its changes be included in the current gains and losses, which including trading
financial liabilities and the financial liabilities be appointed to be measured by fair value with the changes be included in the current gains and
losses when being initially recognized, should be executed subsequent measurement according to the fair value with the profits or losses formed
by the changes of the fair value be included in the current gains and losses.
② 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.
(3) Recognition and measurement of financial asset transfers
As for the Company transferred nearly all of the risks and rewards related to the ownership of a financial asset to the transferee, should
derecognize the financial assets; as for maintained nearly all of the risks and rewards related to the ownership of a financial asset, should continue
to recognize the transferred financial assets and recognize the received counter price as a financial liability. Where the Company does not transfer
or retain nearly all of the risks and rewards related to the ownership of a financial asset (that is to say, it is not under a circumstance as mentioned
in Article 7 of these Standards), it shall deal with it according to the circumstances as follows, respectively: (1)If it gives up its control over the
financial asset, it shall stop recognizing the financial asset; (2)If it does not give up its control over the financial asset, it shall, according to the
extent of its continuous involvement in the transferred financial asset, recognize the related financial asset and recognize the relevant liability
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accordingly.
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.
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, 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.
(4) De-recognition conditions of financial liabilities
Only 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. Where the Group (debtor) enters into an agreement with a 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, it terminates the recognition of the existing financial liability, and at the same time recognizes the new financial liability.
If executed practical modification on the whole or part of the contract regulations of the existing financial liabilities, should terminate to recognize
the existing financial liabilities or certain part of it and at the same time recognize the revised financial liabilities as a new financial liabilities.
Where the recognition of a financial liability is totally or partially terminated, the enterprise concerned shall include into the profits and losses of
the current period for the gap between the book value 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 re-purchase part of the financial liabilities, should distribute the whole book value of the financial liabilities according to the
comparatively fair value between the continued reorganization part and the terminated reorganization part on the re-purchase date. And the
difference between the book value distributed to the terminated recognition part and the counter price of the paid part (including the rolled out
non-cash assets or the new financial liabilities undertook) should be included in the current gains and losses.
(5) Recognition method of the fair value of the financial assets and the financial liabilities
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.
(6) Impairment test of financial assets (excluding the accounts receivable) and withdrawal method of impairment provision
The Company inspects the book value of the financial assets on the balance sheet date to judge whether there are evidences indicate that the
financial assets had occurred impairment owning to the occurrence of one or multiple events.
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As for the 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, should be recognized by the carrying amount
of the difference between the said financial asset which 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 of the as written down which shall be recognized as loss of the impairment of the asset.
When calculating the current value of the estimated future cash flow, should adopt the original effective interests’ rate of the financial assets as
the discount rate. The book value of the assets should be written down to the estimated recoverable amount through impairment provision items
with the written down amount be included in the current gains and losses. As for the financial assets with individual significant amount, should
adopt the individual assessment for ensure whether there are objective evidences indicate the impairment provision and as for the other assets
with insignificant amount, should be inspected by individual or group assessment for ensure whether there are objective evidences indicate the
impairment provision.
As for the financial assets measured by cost, if there are evidences indicate the impairment of the financial instruments without market price
which had not measured by fair value because the fair value could not be reliable measured, the amount of the impairment losses should be
measured by the difference between the book value of the financial assets and the current value of the estimated future cash flow acquired from
the discounting measurement of the current market return rate of the similar financial assets.
Where an available-for-sale financial asset is impaired, 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.
11. Receivables
(1) Accounts receivable with significant single amount for which the bad debt provision is made individually
Definition or amount criteria for an account receivable with a Accounts receivable with a significant single amount refer to the
significant single amount top five accounts receivable with the largest balances or accounts
accounting for over 10% of the total balance of receivables.
Making separate bad-debt provisions for accounts receivable Where there is objective evidence proving that the Company is
with a significant single amount 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 the
difference between the present value of the account’s 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 which the bad debt provision is withdrawn by credit risk characteristics
Group name Withdrawal method of bad debt provision
Common transaction group Percentage balance method
Internal transaction group Age analysis method
In the groups, those adopting aging analysis method to withdraw bad debt provision:
√ Applicable □ Inapplicable
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Withdrawal proportion of account Withdrawal proportion of other account
Aging
receivables receivables
Within 1 year (including 1 year) 6.00% 6.00%
1 to 2 years 6.00% 6.00%
2 to 3 years 6.00% 6.00%
Over 3 years 6.00% 6.00%
In the groups, those adopting balance percentage method to withdraw bad debt provision
√ Applicable □ Inapplicable
Withdrawal proportion of account Withdrawal proportion of other account
Name of the group
receivables receivables
Ordinary business group 6.00% 6.00%
In the groups, those adopting other methods to withdraw bad debt provision:
□ Applicable √ Inapplicable
(3) Accounts receivable with an insignificant single amount but for which the bad debt provision is made independently
Reason of individually withdrawing bad debt provision There are definite evidences indicate the obvious difference of the
returnability
Withdraw the bad debt provision according to the difference of
which the future cash flow lower than the book value. As for
other account receivables (including notes receivables,
Withdrawal method for bad debt provision prepayments, interests receivables and long-term accounts
receivables etc.), should 2ithdraw the bad debt provision
according to the difference of which the future cash flow lower
than the book value.
12. Inventory
Inventory category: raw materials, products in processing, materials for consigned processing, finished products, semi-manufactured
semi-finished products, and low-value consumption goods.
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.
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.
Inventory system: a perpetual inventory system
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13. Divided as assets held for sale
Inapplicable
14. Long-term equity investments
(1) Recognition of provision for falling price of inventory and withdrawal
① 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.
② 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.
③ 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.
④ 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.
⑤ 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.
⑥ The cost of a long-term equity investment obtained by recombination of liabilities shall be recognized at the fair value.
(2) Subsequent measurement of long-term equity investment and recognized method of investment income
① The long-term equity investment of the Company that is able to control the invested enterprise should be measured by cost method. The
dividends or profits declared to distribute by the invested entity shall be recognized as the current investment income.
② The Company measured the long-term equity investment of the joint ventures and the associated enterprises by equity method. If the cost of the
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;
③ 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.
(3) Provision for impairment of long-term investment
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
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investment falls into sustained decline or the invested enterprise’s operation status grow worse, which will cause that the recoverable amount is
lower than carrying value, moreover, such reduced value will not be restored in predicted future period, then the negative balance between the
recoverable amount and carrying value of long-term investment shall be measured as provision for impairment of long-term investment. The
recoverable amount shall be determined in light of the higher one of the net amount of the fair value of the long-term equity investment minus
the disposal expenses and the current value of the expected future 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.
15. Investment real estates
Measurement mode of investment real estates
Inapplicable
16. Fixed assets
(1) Recognition conditions
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.
(2) Depreciation method
Expected net salvage
Category of fixed assets Method Useful life Annual deprecation
value
Housing and building Average method of
3—25 5.00% 31.67%-3.80%
useful life
Machinery equipments Average method of
2—8 5.00% 47.50%-11.88%
useful life
Transportation vehicle Average method of
5—10 5.00% 19.00%-9.50%
useful life
Average method of
Electronic equipment 2—8 5.00% 47.50%-11.88%
useful life
(3) Recognition basis, pricing and depreciation method of fixed assets by finance lease
17. Construction in Progress
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.
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
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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.
18. Borrowing costs
Where the borrowing costs incurred to the Company can be directly attributable to the acquisition and construction or production of assets
eligible for capitalization, it shall be capitalized and recorded into the costs of relevant assets. Other borrowing costs shall be recognized as
expenses on the basis of the actual amount incurred, and shall be recorded into the current profits and losses.
The borrowing costs shall not be capitalized unless they simultaneously meet the following requirements: 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; the borrowing costs has already incurred; and the acquisition and
construction or production activities which are necessary to prepare the asset for its intended use or sale have already started.
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.
19. Biological assets
Inapplicable
20. Oil-gas assets
Inapplicable
21. Intangible assets
(1) Pricing method, useful life and impairment test
(1) Measurement of intangible assets
① The cost of outsourcing intangible assets shall be measured at actual expenditures occurred for reaching the expected use purpose.
② 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.
③ 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.
④ 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.
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⑤ 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) Amortization of intangible assets
Intangible assets with limited service life shall be amortized by the straight-line method within its estimated service life. If it is unable to
forecast the period when the intangible asset can bring economic benefits to the Company, it shall be regarded as an intangible asset with
uncertain service life. Intangible assets with uncertain service life may not be amortized.
(3) 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.
(2) Accounting polices of internal R & D expenses
Inapplicable
22. Impairment of long-term assets
Inapplicable
23. 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.
24. Payroll
(1) Accounting treatment of short-term compensation
Short-term compensation mainly including salary, bonus, allowances and subsidies, employee services and benefits, medical insurance
premiums, birth insurance premium, industrial injury insurance premium, housing fund, labor union expenditure and personnel education fund,
non-monetary benefits etc. The short-term compensation actually happened during the accounting period when the active staff offering the
service for the Group should be recognized as liabilities and is included in the current gains and losses or relevant assets cost. Of which the
non-monetary benefits should be measured according to the fair value.
(2) Accounting treatment of the welfare after demission
If an enterprise cancels the labor relationship with any employee prior to the expiration of the relevant labor contract or brings forward any
compensation proposal for the purpose of encouraging the employee to accept a layoff, and should recognize the payroll liabilities occurred
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from the demission welfare base on the earlier date between the time when the Group could not one-sided withdraw the demission welfare
which offered by the plan or layoff proposal owning to relieve the labor relationship and the date the Group recognizes the cost related to the
reorganization of the payment of the demission welfare and at the same time includes which into the current gains and losses. But if the
demission welfare is estimated that could not totally pay after the end of the annual report within 12 months, should be disposed according to
other long-term payroll payment.
Welfare after demission mainly includes setting drawing plan. Of which setting the drawing plan mainly includes basic endowment insurance
and unemployment insurance, and the corresponding payable and deposit amount should be included into the relevant assets cost or the current
gains and losses when happen.
(3) Accounting treatment of the demission welfare
The inside employee retirement plan is treated by adopting the same principle with the above dismiss ion welfare. The group would recorded
the salary and the social security insurance fees paid and so on from the employee’s service terminative date to normal retirement date into
current profits and losses (dismiss ion welfare) under the condition that they meet the recognition conditions of estimated liabilities.
(4) Accounting treatment of the welfare of other long-term staffs
The other long-term welfare that the Group offers to the staffs, if met with the setting drawing plan, should be accounting disposed according to
the setting drawing plan, while the rest should be disposed according to the setting revenue plan.
25. Estimated liabilities
(1) 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 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. 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 amount of compensation is not exceeding the book value of the recognized estimated liabilities.
26. Share-based payment
Inapplicable
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27. Other financial instruments such as preferred shares and perpetual capital securities
Inapplicable
28. Revenue
(1) No revenue from selling goods may be recognized unless the following conditions are met simultaneously:
① The significant risks and rewards of ownership of the goods have been transferred to the buyer by the Company;
② The Company retains neither continuous management right that usually keeps relation with the ownership nor effective control over the sold
goods;
③ The revenue amount and the relevant cost which had occurred or will occur could be reliable measured;
④ The relevant economic benefits may flow into the Company.
(2) Specific principles for recognition of the “domestic sale and export” incomes of the Company:
① Method for recognition of the domestic sale income: According to the buyer’s requirements, the Company delivers to the buyer the products
that have been considered qualified upon examination. The amount of the income has been determined and the sales invoice has been issued.
The payment for the delivered products has been received in full or is expectedly recoverable.
② Method for recognition of the export income: The Company produces the products according to the contract signed with the buyer. After the
products have been examined as qualified, the Company completes the customs clearing procedure for export. The shipping company loads the
products for shipping. The amount of the income has been determined and the export sales invoice has been issued. The payment for the
delivered products has been received in full or is expectedly recoverable.
(3) The Company provides the external labor service with the revenues should be recognized according to the following
methods:
① The labor service started and completed during the same accounting year should be recognized as revenues when the labor service
completed. While if the starting and the completion of the labor service attribute to different accounting year, and the Company can, on the date
of the balance sheet, reliably estimate the outcome of a transaction concerning the labor services it provides, it shall recognize the relevant
revenue from providing services employing the percentage-of-completion method.
② If an enterprise can not, on the date of the balance sheet, measure the result of a transaction concerning the providing of labor services in a
reliable way, it shall be conducted in accordance with the following circumstances, respectively: If 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, and the cost of labor services shall be carried forward at the same amount; If the cost of labor services incurred is not
expected to compensate, the revenue shall be recognized in accordance with the amount of the cost of labor service can be compensated, and
regard the occurred labor cost as the current cost; if all cost of labor services incurred is not expected to compensate and no revenue from the
providing of labor services may be recognized and regard the occurred labor cost as the current cost.
(4) The revenue from abalienating of right to use assets consists of interest revenue and royalty revenue, and no revenue from abalienating of
right to use assets may be recognized unless the following conditions are met simultaneously: ① The relevant economic benefits are likely to
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
flow into the Company; ② The amount of revenues can be measured in a reliable way. ③ The royalty revenue of the revenue from abalienating
of right to use assets, should be recognized as the operation revenue according to the chargeable time as well as the calculation method
stipulated by the relevant contracts and agreements.
29. Government Subsidies
(1) Judgment basis and accounting treatment of government subsidies related to assets
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.
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.
(2) Judgment basis and accounting treatment of government subsidies related to profits
The government subsidies pertinent to incomes shall be treated respectively in accordance with the circumstances as follows: 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 those subsidies used for compensating the related
expenses or losses incurred to the enterprise shall be directly included in the current profits and losses.
30. Deferred income tax assets/deferred income tax liabilities
(1) Basic of recognizing the deferred income tax assets
① As for the book value and the tax base of the assets and the liabilities exist deductible temporary difference, the Company
shall recognize the deferred income tax liability arising from a deductible temporary difference to the extent of the amount
of the taxable income which it is most likely to obtain and which can be deducted from the deductible temporary difference
according to the applicable tax rate of the period which recovered the estimated assets or paid off the liabilities.
② On the balance sheet date, if there is any exact evidence showing that it is likely to acquire a sufficient amount of taxable income in a future
period to offset against the deductible temporary difference, the deferred income tax assets unrecognized in prior periods shall be recognized.
③ The book value of deferred income tax assets shall be reviewed at each balance sheet date. If it is unlikely to obtain sufficient taxable
income to offset against the benefit of the deferred income tax asset, the book value of the deferred income tax assets shall be written down.
Any such write-down should be subsequently reversed where it becomes probable that sufficient taxable income will be available.
(2) Basic of recognizing the deferred income tax liabilities
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
As for the book value and the tax base of the assets and the liabilities exist payable temporary difference, the Company shall
recognize the deferred income tax liability arising from a payable temporary difference according to the applicable tax rate
of the period which recovered the estimated assets or paid off the liabilities.
31. Lease
(1) Accounting treatment of operating lease
For the leasee of he operating lease, the rent expenses from operating leases shall be recorded by the lessee 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.
The initial direct costs shall be recognized as the profits and losses of the current period; the contingent rents shall be
recorded into the profits and losses of the current period in which they actually arise. A lessor shall include the assets subject
to operating leases in relevant items of its balance sheets in light of the nature of the asset；The rents from operating leases
shall be recorded in the profits and losses of the current period by using the straight-line method over each period of the
lease term；the initial direct costs incurred to a lessor shall be recorded into the profits and losses of the current period. As
for the fixed assets subject to operating leases, the lessor shall calculate the depreciation of it by adopting depreciation
policy for similar assets; as for other leased assets, systematic and reasonable methods shall be adopted for its amortization;
the contingent rents shall be recorded in the profits and losses of the period in which they actually arise.
(2) Accounting treatments of financial lease
On the lease beginning date, a lessee 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; the initial
direct costs such as commissions, attorney's fees and traveling expenses, stamp duties directly attributable to the leased item
incurred during the process of lease negotiating and signing the leasing agreement shall be recorded in the asset value of the
current period; when amortizing the unrecognized financial charges during each period within the lease term, should
recognize the current financial expenses by the actual interests rate; and the contingent rental should be included the current
gains and losses when actually arise When a lessee calculates the present value of the minimum lease payments, if it can
obtain the lessor's interest rate implicit in the lease, it shall adopt the interest rate implicit in the lease as the discount rate.
Otherwise, it shall adopt the interest rate provided in the lease agreement as the discount rate. In case the lessee cannot
obtain the lessor's interest rate implicit in the lease and no interest rate is provided in the lease agreement, the lessee shall
adopt the borrowing interest rate of the bank for the same period as the discount rate. If it is reasonable to be certain that the
lessee 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 lessee 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. On
the beginning date of the lease term, a lessor shall recognize the sum of the minimum lease receipts on the lease beginning
date and the initial direct costs as the entering value in an account of the financing lease values receivable, and record the
unguaranteed residual value at the same time; the balance between the sums of the minimum lease receipts, the initial direct
costs and the unguaranteed residual value, and the sum of their present values shall be recognized as unrealized financing
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
income; the unrealized financing income shall be allocated to each period during the lease term; the lessor shall calculate the
financing income at the current period by adopting the effective interest rate method; contingent rents shall be recognized as
an expense in the period in which they are actually incurred.
32. Other significant accounting policies and estimates
(1) Other significant accounting policies
The Company was not involved with any other significant accounting policy during the reporting period.
(2) Other significant accounting estimates
The Company was not involved with any other significant accounting estimate during the reporting period.
33. Changes in main accounting policies and estimates
(1) Change of accounting policies
□ Applicable √ Inapplicable
(2) Change of main accounting estimates
□ Applicable √ Inapplicable
34. Other
Inapplicable
VI. Taxation
1. Main taxes and tax rate
Category of taxes Tax basis Tax rate
VAT Sales revenues 17%
Business tax Operating income 5%
Urban maintenance and construction tax Turnover tax payable 7%/5%
Enterprise income tax Income tax payable 25%/15%
Notes of the disclosure situation of the taxpaying bodies with different enterprises income tax rate
Name Income tax rate
Foshan Electrical and Lighting Co., Ltd. 15%
Suzhou Mont Lighting Co., Ltd. 15%
Foshan Chanchang Electric Appliance (Gaoming) Co., Ltd. 25%
Foshan Chansheng Electronic Ballast Co., Ltd. 25%
Foshan Taimei Times Lamps and Lanterns Co., Ltd. 25%
FSL New Light Source Technology Co., Ltd. 25%
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Nanjing Fozhao Lighting Components Manufacturing Co., Ltd. 25%
Foshan Electrical & Lighting (Xinxiang) Co., Ltd. 25%
Foshan Lighting Lamps and Lanterns Co., Ltd. 25%
Guangdong Fozhao Leasing Co., Ltd. 25%
2. Tax preference
1. The Company was identified as a high-tech enterprise in Dec. 2008, and passed the re-examination for the First Batch
High-tech Enterprise in 2011 on 23 Aug. 2011, as well as won the “Certificate of High-tech Enterprise” with serial number
GR201144000059 after approval by Department of Science and Technology of Guangdong Province, Department of
Finance of Guangdong Province, Guangdong Provincial Bureau 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 Company had submitted the
reexamine materials of the high-tech enterprise qualification on 2 Jul. 2014 and had passed the re-examination for the First
Batch High-tech Enterprise in 2014 of Guangdong Province as well as won the “Certificate of High-tech Enterprise” with
serial number GR201444001411 after approval by Department of Science and Technology of Guangdong Province,
Department of Finance of Guangdong Province, Guangdong Provincial Bureau of State Taxation and Guangdong Provincial
Bureau of Local Taxation on 17 Mar. 2015. 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. 2014.
2. The subordinate subsidiary of the Company, Suzhou Mont Lighting Co., Ltd. was identified as a high-tech enterprise and
won the “Certificate of High-tech Enterprise” with serial number GR201232000797 after approval 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 on 6 Aug. 2012. 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. 2012.
3. Other
Paid according to the relevant regulation of the tax law.
VII. Notes to Main Items of Consolidated Financial Statements
1. Monetary funds
Unit: RMB Yuan
Item Closing balance Opening balance
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Cash on hand 7,306.67 13,150.43
Bank deposits 787,251,674.33 915,022,578.88
Other currency funds 86,908,583.37 74,682,666.29
Total 874,167,564.37 989,718,395.60
Other notes
—All bank deposits are in the name of the Company or the subsidiaries which are within the scope of consolidated financial statements.
—The closing balance of other monetary funds of the reporting period was the refundable deposit, the balance of the Alipay and the quality
guarantee deposit. Of which, the right to use of the quality guarantee deposit which was of RMB 17,160.00 was under restrictions.
2. Financial assets measured by fair value and the changes be included in the current gains and losses
Unit: RMB Yuan
Item Closing balance Opening balance
Financial assets appointed to be measured
by fair value with the changes be included 2,608,830.00 20,320.00
in the current gains and losses
Investment on equity instruments 2,608,830.00 20,320.00
Total 2,608,830.00 20,320.00
3. Derivative financial assets
□ Applicable √ Inapplicable
4. Notes receivable
(1) Notes receivable listed by category
Unit: RMB Yuan
Item Closing balance Opening balance
Bank acceptance bill 126,421,276.76 126,676,364.36
Commercial acceptance bill 138,226,781.40 124,316,920.77
Total 264,648,058.16 250,993,285.13
(2) Notes receivable pledged by the Company at the period-end
Naught
(3) Notes receivable which had endorsed by the Company or had discounted and had not due on the balance sheet
date at the period-end
Unit: RMB Yuan
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Amount of recognition termination at the Amount of not terminated recognition at
Item
period-end the period-end
Bank acceptance bill 81,048,211.49
Total 81,048,211.49
(4) Notes transferred to accounts receivable because drawer of the notes fails to executed the contract or agreement
Naught
Other notes
—The closing balance of the notes receivable increased of RMB 13,654,773.03 over the period-begin with the growing rate
of 5.44%, which was mainly due to the increase that the Company adopted the commercial acceptance bill for settling
accounts.
5. Accounts receivable
(1) Accounts receivable disclosed by category
Unit: RMB Yuan
Closing balance Opening balance
Book balance Bad debt provision Book balance Bad debt provision
Category Withdra
Book
Proportio wal Proportio Withdrawal Book value
Amount Amount value Amount Amount
n proportio n proportion
n
Accounts receivable
withdrawn bad debt
460,164, 27,609,8 432,554,4 343,565 20,613,93 322,951,67
provision according 99.76% 6.00% 99.81% 6.00%
271.24 56.27 14.97 ,611.11 6.66 4.45
to credit risks
characteristics
Accounts receivable
with insignificant
single amount for 1,126,14 1,126,14 664,739 664,739.6
0.24% 100.00% 0.00 0.19% 100.00% 0.00
which bad debt 4.41 4.41 .65 5
provision separately
accrued
461,290, 28,736,0 432,554,4 344,230 21,278,67 322,951,67
Total 100.00% 6.23% 100.00% 6.18%
415.65 00.68 14.97 ,350.76 6.31 4.45
Accounts receivable with significant single amount for which bad debt provision separately accrued at the period-end
□ Applicable √ Inapplicable
In the groups, accounts receivable adopting aging analysis method to accrue bad debt provision:
√ Applicable □ Inapplicable
Unit: RMB Yuan
Aging Closing balance
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Accounts receivable Bad debt provision Withdrawal proportion
Subitem within 1 year
Within 1 year 425,990,204.83 25,559,412.29 6.00%
Subtotal within 1 year 425,990,204.83 25,559,412.29 6.00%
1 to 2 years 23,739,661.06 1,424,379.66 6.00%
2 to 3 years 8,972,112.62 538,326.76 6.00%
Over 3 years 1,462,292.73 87,737.56 6.00%
Total 460,164,271.24 27,609,856.27 6.00%
In the groups, accounts receivable adopting balance percentage method to withdraw bad debt provision
□ Applicable √ Inapplicable
(2) Accounts receivable withdraw, reversed or collected during the reporting period
The withdrawal amount of the bad debt provision during the reporting period was of RMB 7,457,324.37; the amount of the
reversed or collected part during the reporting period was of RMB 0.00.
(3) The actual write-off accounts receivable
Naught
(4) Top 5 of the closing balance of the accounts receivable colleted according to the arrears party
Proportion of the Closing balance of
Relationship with total year end bad debt provision
Name of units Amount Age limit balance of the
the Company
accounts receivable
(%)
Non-related
Unit 1 24,998,850.49 Within 1 year 5.42% 1,499,931.03
relationship
Non-related
Unit 2 19,009,979.64 Within 1 year 4.12% 1,140,598.78
relationship
Non-related
Unit 3 13,904,257.90 Within 1 year 3.01% 834,255.47
relationship
Unit 4 Related relationship 10,371,325.77 Within 1 year 2.25% 622,279.55
Non-related
Unit 5 9,531,454.48 Within 1 year 2.07% 571,887.27
relationship
Total -- 77,815,868.28 -- 16.87% 4,668,952.10
(5) Account receivable which terminate the recognition owning to the transfer of the financial assets
Naught
(6) The amount of the assets and liabilities formed by the transfer and the continues involvement of accounts
receivable
Naught
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
6. Prepayment
(1) List by aging analysis
Unit: RMB Yuan
Closing balance Opening balance
Aging
Amount Proportion Amount Proportion
Within 1 year 10,660,167.23 86.89% 11,552,758.71 92.04%
1 to 2 years 916,232.21 7.47% 807,228.91 6.43%
2 to 3 years 196,776.33 1.60% 144,407.98 1.15%
Over 3 years 495,181.61 4.04% 47,171.31 0.38%
Total 12,268,357.38 -- 12,551,566.91 --
Notes of the reasons of the prepayment ages over 1 year with significant amount but failed settled in time:
(2) Top 5 of the closing balance of the prepayment colleted according to the prepayment target
Name of the Relationship Amount
Age limit Proportion
units
Unit 1 Non-related relationship 2,900,000.00 Within 1 year 23.64%
Unit 2 Non-related relationship 1,857,577.26 Within 1 year 15.14%
Unit 3 Non-related relationship 1,208,883.27 Within 1 year 9.85%
Unit 4 Non-related relationship 409,828.67 Within 2 year 3.34%
Unit 5 Non-related relationship 299,359.79 Within 1 year 2.44%
Total - 6,675,648.99 - 54.41%
7. Interest receivable
(1) Category of interest receivable
Unit: RMB Yuan
Item Closing balance Opening balance
Deposits on a regular basis 3,763,084.50 2,101,275.54
Total 3,763,084.50 2,101,275.54
(2) Significant overdue interest
Naught
8. Dividend receivable
(1) Dividend receivable
Naught
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(2) Significant dividend receivable aged over 1 year
Naught
9. Other accounts receivable
(1) Other accounts receivable disclosed by category
Unit: RMB Yuan
Closing balance Opening balance
Category Closing balance Category Closing balance
Category Withdra
Opening Opening
Proportio wal Proportio Withdrawal
Amount Amount balance Amount Amount balance
n proportio n proportion
n
Other accounts
receivable withdrawn
66,845,9 4,010,75 62,835,14 78,854, 4,731,245 74,122,844.
bad debt provision 100.00% 6.00% 100.00% 6.00%
01.48 4.09 7.39 090.02 .39 63
according to credit
risks characteristics
66,845,9 4,010,75 62,835,14 78,854, 4,731,245 74,122,844.
Total 100.00% 6.00% 100.00% 6.00%
01.48 4.09 7.39 090.02 .39 63
Other accounts receivable with significant single amount for which bad debt provision separately accrued at the period-end
□ Applicable √ Inapplicable
In the groups, other accounts receivable adopting aging analysis method to accrue bad debt provision:
√ Applicable □ Inapplicable
Unit: RMB Yuan
Closing balance
Aging
Other accounts receivable Bad debt provision Withdrawal proportion
Subitem within 1 year
Within 1 year 64,317,396.83 3,859,043.81 6.00%
Subtotal within 1 year 64,317,396.83 3,859,043.81 6.00%
1 to 2 years 1,617,480.94 97,048.86 6.00%
2 to 3 years 153,541.87 9,212.51 6.00%
Over 3 years 757,481.84 45,448.91 6.00%
Total 66,845,901.48 4,010,754.09 6.00%
In the groups, other accounts receivable adopting balance percentage method to withdraw bad debt provision
□ Applicable √ Inapplicable
In the groups, other accounts receivable adopting other methods to accrue bad debt provision:
□ Applicable √ Inapplicable
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(2) Accounts receivable withdraw, reversed or collected during the reporting period
The withdrawal amount of the bad debt provision during the reporting period was of RMB 0.00；the amount of the reversed
or collected part during the reporting period was of RMB 720,491.30.
(3) The actual write-off other accounts receivable
Naught
(4) Other accounts receivable classified by the nature of accounts
Unit: RMB Yuan
Nature Closing book balance Opening book balance
Promotion financial subsidies of the effi
59,469,642.24 59,524,157.04
cient lighting products
VAT export tax refunds 11,506.35 9,474,039.36
Performance earnest money 2,493,871.53 3,844,371.53
Employee loans and petty cash 1,613,745.43 2,130,228.48
Rent and water and electricity charges 509,983.94 1,131,824.72
Relevant accounts of street lights constr
2,523,547.23 2,523,547.23
uction
Other 223,604.76 225,921.66
Total 66,845,901.48 78,854,090.02
(5) Top 5 of the closing balance of the other accounts receivable colleted according to the arrears party
Unit: RMB Yuan
Proportion of the Closing balance of
total year end bad debt provision
Name of units Nature Closing balance Aging
balance of the
accounts receivable
Promotion financial
subsidies of the
Unit 1 59,469,642.24 Within 2 years 88.97% 3,568,178.53
efficient lighting
products
Advance money for
relevant accounts of
Unit 2 2,523,547.23 Within 2 years 3.78% 151,412.83
street lights
construction
Unit 3 Performance earnest 1,000,000.00 Within 1 years 1.50% 60,000.00
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
money
Performance earnest
Unit 4 483,000.00 Over 3 years 0.72% 28,980.00
money
Performance earnest
Unit 5 480,000.00 Within 1 years 0.72% 28,800.00
money
Total -- 63,956,189.47 -- 95.69% 3,837,371.36
(6) Accounts receivable involved with government subsidies
Unit: RMB Yuan
Project of government Estimated received time,
Name of units Closing balance Closing age
subsidies amount and basis
Promotion financial
Finance Bureau subsidies of the efficient 59,469,642.24 Within 2 years 2015
lighting products
Total -- 59,469,642.24 -- --
(7) Other account receivable which terminate the recognition owning to the transfer of the financial assets
Naught
(8) The amount of the assets and liabilities formed by the transfer and the continues involvement of other accounts
receivable
Naught
Other notes:
—The closing balance of the other accounts receivables of the current period decreased of RMB 11,287,697.24 over the
period-begin with the reduction amplitude of 15.23%, which was mainly due to receiving of the VAT export tax refunds
from the last period.
10. Inventory
(1) Category of inventory
Unit: RMB Yuan
Closing balance Opening balance
Item Falling price Falling price
Book balance Book value Book balance Book value
reserves reserves
Raw materials 75,995,636.95 2,950,206.73 73,045,430.22 66,135,274.34 2,950,206.73 63,185,067.61
Goods in process 200,862,915.01 2,183,082.98 198,679,832.03 153,424,838.87 2,183,082.98 151,241,755.89
Inventory goods 336,401,945.03 5,217,218.92 331,184,726.11 419,125,198.44 9,718,644.81 409,406,553.63
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Low-value
1,907,768.59 1,907,768.59 1,961,595.35 1,961,595.35
fugitive items
Total 615,168,265.58 10,350,508.63 604,817,756.95 640,646,907.00 14,851,934.52 625,794,972.48
(2) Falling price reserves of inventory
Unit: RMB Yuan
Increased amount Decreased amount
Item Opening balance Reverse or Closing balance
Withdrawal Other Other
write-off
Raw materials 2,950,206.73 2,950,206.73
Goods in process 2,183,082.98 2,183,082.98
Inventory goods 9,718,644.81 4,501,425.89 5,217,218.92
Total 14,851,934.52 4,501,425.89 10,350,508.63
(3) Notes of the closing balance of the inventory which includes capitalized borrowing expenses
Naught
(4) Completed unsettled assets formed from the construction contact at the period-end
Naught
11. Assets divided as held-to-sold
Naught
12. Non-current assets due within 1 year
Naught
13. Other current assets
Unit: RMB Yuan
Item Closing balance Opening balance
Deductible input tax of VAT 29,873,096.75 31,783,068.68
Total 29,873,096.75 31,783,068.68
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
14. Available-for-sale financial assets
(1) List of available-for-sale financial assets
Unit: RMB Yuan
Closing balance Opening balance
Item Depreciation Depreciation
Book balance Book value Book balance Book value
reserves reserves
Available-for-sale equity
2,222,292,943.10 5,850,000.00 2,216,442,943.10 587,007,988.22 5,850,000.00 581,157,988.22
instruments
Measured by fair
1,910,693,182.94 1,910,693,182.94 114,908,227.84 114,908,227.84
value
Measured by cost 311,599,760.16 5,850,000.00 305,749,760.16 472,099,760.38 5,850,000.00 466,249,760.38
Total 2,222,292,943.10 5,850,000.00 2,216,442,943.10 587,007,988.22 5,850,000.00 581,157,988.22
(2) Available-for-sale financial assets measured by fair value at the period-end
Unit: RMB Yuan
Category of the
Available-for-sale equity Available-for-sale
available-for-sale Total
instruments liabilities instruments
financial assets
Cost of the equity
instruments/amortized
183,649,747.82 183,649,747.82
cost of the debt
instruments
Fair value 1,910,693,182.94 1,910,693,182.94
Changed amount of the
fair value that be
accumulatively recorded 1,467,986,919.85 1,467,986,919.85
in other comprehensive
income
(3) Available-for-sale financial assets measured by cost at the period-end
Unit: RMB Yuan
Book balance Impairment provision Shareholdi Cash
ng bonus of
Investee Period-beg Period-beg proportion the
Increase Decrease Period-end Increase Decrease Period-end
in in among the reporting
investees period
Shenzhen 5,850,000. 5,850,000. 5,850,000. 5,850,000. Less than
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Zhonghao 00 00 00 00 5.00%
(Group)
Ltd.
Chengdu
Hongbo 6,000,000. 6,000,000.
6.94%
Industrial 00 00
Co., Ltd.
Xiamen
292,574,13 292,574,13
Bank Co., 6.91%
3.00 3.00
Ltd.
Foshan
Branch of
Guangdon Less than
g 500,000.00 500,000.00
5.00%
Developm
ent Bank
Co., Ltd.
Foshan
Fochen
Road
7,175,627. 6,675,627.
Developm 500,000.22 7.66%
38 16
ent
Company
Limited
Hefei
Guoxuan
High-tech 160,000,00 160,000,00
0.00 0.00%
Power 0.00 0.00
Energy
Co., Ltd.
Total 472,099,76 160,500,00 311,599,76 5,850,000. 5,850,000.
--
0.38 0.22 0.16 00 00
(4) Changes of the impairment of the available-for-sale financial assets during the reporting period
Naught
(5) Relevant notes of the fair value of the available-for-sale equity instruments which seriously fell or temporarily fell
but not withdrawn the impairment provision
Naught
Other notes
—The revenue of the investee company, Foshan Fochen Road Development Company Limited had be included in the
unified collection distribution system of Foshan road and bridge tolls, and the Company had executed amortization within
the remained planting duration by regarding the investment balance as the usufruct and the amortized investment cost of the
reporting period was of RMB 500,000.22.
101
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
—During the reporting period, the joint stock company of the Company, Hefei Guoxuan High-tech Power Energy Co., Ltd.
(hereinafter referred to as “Guoxuan High-tech”) successfully appeared on the market through back-door listing by Jiangsu
Dongyuan Electrical Group Co., Ltd. (hereinafter referred to as “Dongyuan Electrical”) with the transaction of the relevant
assets transfer procedures had all completed. Thus the shares that the Company held of Guoxuan High-tech altered as
Dongyuan Electrical and the Company held the shares of the latter of 73,006,150 shares after alternation (for the details,
please refer to the Announcement on the Situation Progress of the Back-door Listing of the Joint Stock Company disclosed
on www.cninfo.com.cn on 14 May 2015, of which the Announcement No. was 2015-018).
15. Investment held-to-maturity
Naught
16. Long-term accounts receivable
Naught
17. Long-term equity investment
Unit: RMB Yuan
Increase/decrease
Closing
Gains and Adjustme
Cash Withdraw balance
Additiona losses nt of
Opening Reduced Changes bonus or al of Closing of
Investees l recognize other
balance investmen of other profits impairme Other balance impairme
investmen d under comprehe
t equity announce nt nt
t the equity nsive
d to issue provision provision
method income
I. Joint ventures
II. Associated enterprises
Qinghai
FSL
Lithium
3,689,724 3,688,515
Energy -1,208.40
.39 .99
Exploitati
on Co.,
Ltd.
3,689,724 3,688,515
Subtotal -1,208.40
.39 .99
3,689,724 3,688,515
Total -1,208.40
.39 .99
102
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
18. Investment property
Naught
19. Fixed assets
(1) List of fixed assets
Unit: RMB Yuan
Houses and Machinery Transportation Electronic
Item
buildings equipment Total
equipment equipment
I. Original book
value:
1. Opening
568,744,717.00 916,122,498.61 20,766,596.02 22,831,274.05 1,528,465,085.68
balance
2. Increased
585,000.00 15,337,072.56 787,758.90 315,814.31 17,025,645.77
amount of the period
(1) Purchase 5,936,839.11 787,758.90 315,814.31 7,040,412.32
(2) Transfer of
project under 585,000.00 9,400,233.45 9,985,233.45
construction
(3) Enterprises
combination increase
3. Decreased
9,585,557.03 357,674.00 495,771.41 10,439,002.44
amount of the period
(1) Disposal or
2,522,997.37 357,674.00 110,695.67 2,991,367.04
scrap
(2) Equipment
7,062,559.66 385,075.74 7,447,635.40
transformation
4. Closing balance 569,329,717.00 921,874,014.14 21,196,680.92 22,651,316.95 1,535,051,729.01
II. Accumulated
desperation
1. Opening
338,302,001.88 693,539,580.39 13,717,406.23 12,707,722.36 1,058,266,710.86
balance
2. Increased
10,558,540.08 19,387,903.46 702,220.01 5,386,187.05 36,034,850.60
amount of the period
(1) Withdrawal 10,558,540.08 19,387,903.46 702,220.01 5,386,187.05 36,034,850.60
103
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
3. Decreased
8,067,989.61 334,439.11 191,252.01 8,593,680.73
amount of the period
(1) Disposal or
2,297,164.96 334,439.11 98,495.77 2,730,099.84
scrap
(2) Equipment
5,770,824.65 92,756.24 5,863,580.89
transformation
4. Closing balance 348,860,541.96 704,859,494.24 14,085,187.13 17,902,657.40 1,085,707,880.73
III. Impairment
provision
1. Opening
6,930,673.53 6,930,673.53
balance
2. Increased
37,880,650.98 37,880,650.98
amount of the period
(1) Withdrawal 37,880,650.98 37,880,650.98
3. Decreased
427.50 427.50
amount of the period
(1) Disposal or
427.50 427.50
scrap
4. Closing balance 44,810,897.01 44,810,897.01
IV. Book value
1. Closing book
220,469,175.04 172,203,622.89 7,111,493.79 4,748,659.55 404,532,951.27
value
2. Opening book
230,442,715.12 215,652,244.69 7,049,189.79 10,123,551.69 463,267,701.29
value
(2) List of temporarily idle fixed assets
Unit: RMB Yuan
Accumulated Impairment
Item Original book value Net book value Remark
depreciation provision
Name of the
announcement:
T5, T8,
Announcement on
energy-saving lamp 180,869,238.81 142,369,160.70 37,880,650.98 619,427.49
Withdrawing the
production line
Preparation for the
Assets Impairment
104
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
on the Idle
Equipments and
Construction in
Progress; the
Announcement No.:
2015-030; disclosure
website:
www.cninfo.com.cn
(3) Fixed assets leased in from financing lease
Naught
(4) Fixed assets leased out from operation lease
Naught
(5) Details of fixed assets failed to accomplish certification of property
Naught
Other notes
—The decreased amount of the equipments transformation of the reporting period was due to the original value of the fixed
assets of the equipments transformation of the enterprises and the accumulative depreciation transferred in the measurement
of the construction in progress.
20. Construction in progress
(1) List of construction in progress
Unit: RMB Yuan
Closing balance Opening balance
Item Impairment Impairment
Book balance Book value Book balance Book value
provision provision
Construction in
113,860,677.26 5,695,984.29 108,164,692.97 94,558,082.50 3,695,984.29 90,862,098.21
progress
Total 113,860,677.26 5,695,984.29 108,164,692.97 94,558,082.50 3,695,984.29 90,862,098.21
(2) Changes of significant construction in progress
Unit: RMB Yuan
Name o f Estimate Opening Increase Amount Other Closing Proporti Project Accumul Of Capitaliz Capital
item d balance d amount that decrease balance on progress ative which: ation rate resources
105
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
number of the transferr d amount estimate amount the of the
period ed to of the d of the of amount interests
fixed period project capitaliz of the of the
assets of accumul ed capitaliz period
the ative interests ed
period input interests
of the
period
LED
second 4,500,00 4,423,87 63,943.9 4,487,82
99.73% 99.73% Other
0.00 9.64 0 3.54
worksho
p
Third
District
8,600,00 8,149,79 8,149,79
Hard 94.77% 94.77% Other
0.00 4.29 4.29
Glass
Kiln
Gaoming
Fuwan
semi-fini
shed
products 5,070,00 3,647,74 1,002,15 4,649,89
91.71% 91.71% Other
of lamps 0.00 0.00 0.00 0.00
and
assembly
worksho
p II
Gaoming
Fuwan
Load and
9,800,00 7,922,82 537,205. 8,460,02
unload 86.33% 86.33% Other
0.00 3.80 37 9.17
station
second
factory
Gaoming
Fuwan
semi-fini 7,600,00 5,053,67 1,119,39 6,173,06
81.22% 81.22% Other
shed 0.00 2.00 0.50 2.50
products
of lamps
106
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
and
assembly
worksho
pI
Employe
e
departme 15,000,0 4,030,00 4,004,21 8,034,21
nt of 53.56% 53.56% Other
00.00 0.00 5.55 5.55
Gaoming
8#9#
floors
Reforma 6,800,00 5,906,29 234,318. 6,140,61
tion of 90.03% 90.03% Other
0.00 8.82 73 7.55
6# kiln
G project
of
Fuwan 19,500,0 4,915,00 4,915,00
25.21% 25.21% Other
standard 00.00 0.00 0.00
worksho
p
SGLC
color tile
engineeri
ng for
7,000,00 1,363,20 1,363,20
leak 19.47% 19.47% Other
0.00 0.00 0.00
repairing
of each
worksho
p
Gaoming
employe
4,500,00 2,079,86 2,079,86
e 46.22% 46.22% Other
0.00 8.00 8.00
departme
nt
88,370,0 39,134,2 15,319,2 54,453,5
Total -- -- --
00.00 08.55 92.05 00.60
(3) List of the withdrawal of the impairment provision of the construction in progress
Unit: RMB Yuan
Item Withdrawn amount Reason
The recoverable amount of the assets lower
Third District Hard Glass Kiln 2,000,000.00
than the book value
Total 2,000,000.00 --
107
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
21. Engineering material
Naught
22. Liquidation of fixed assets
Naught
23. Productive biological assets
Naught
24. Oil and gas assets
Naught
25. Intangible assets
(1) Information
Unit: RMB Yuan
Item Land use right Patent Non-patents Software use right Total
I. Total original
book value
1. Opening balance 211,719,938.60 20,700,700.00 1,636,664.95 234,057,303.55
2. Increase in the
reporting period
(1) Purchase
(2) Internal R &D
(3) Increase from
enterprise
combination
3. Decrease in the
reporting period
(1) Purchase
4. Closing balance 211,719,938.60 20,700,700.00 1,636,664.95 234,057,303.55
II. Total accrued
amortization
108
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
1. Opening balance 44,415,425.34 2,145,860.00 381,888.50 46,943,173.84
2. Increase in the
1,937,293.01 972,930.00 163,666.50 3,073,889.51
reporting period
(1) Withdrawal 1,937,293.01 972,930.00 163,666.50 3,073,889.51
3. Decrease in the
reporting period
(1) Disposal
4. Closing balance 46,352,718.35 3,118,790.00 545,555.00 50,017,063.35
III. Total impairment
provision
1. Opening balance
2. Increase in the
reporting period
(1) Withdrawal
3. Decrease in the
reporting period
(1) Disposal
4. Closing balance
IV. Total book value
of intangible assets
1. Book value of
165,367,220.25 17,581,910.00 1,091,109.95 184,040,240.20
the period-end
2. Book value of
167,304,513.26 18,554,840.00 1,254,776.45 187,114,129.71
the period-begin
The proportion the intangible assets formed from the internal R&D through the Company amount the balance of the intangible assets at the
period-end was 0.00%.
(2) Details of fixed assets failed to accomplish certification of land use right
Naught
26. R&D expenses
Naught
109
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
27. Goodwill
(1) Original book value of goodwill
Unit: RMB Yuan
Name of the
investees or the
Opening balance Increase Decrease Closing balance
events formed
goodwill
Suzhou Mont
7,360,330.45 7,360,330.45
Lighting Co., Ltd.
Total 7,360,330.45 7,360,330.45
(2) Impairment provision of goodwill
Naught
28. Long-term unamortized expenses
Unit: RMB Yuan
Amortization
Item Opening balance Increase Decrease Closing balance
amount
Decoration of lease
918,958.73 609,638.00 515,785.88 1,012,810.85
workshop
Total 918,958.73 609,638.00 515,785.88 1,012,810.85
29. Deferred income tax assets/deferred income tax liabilities
(1) Deferred income tax assets had not been off-set
Unit: RMB Yuan
Closing balance Opening balance
Item Deductible temporary Deferred income tax Deductible temporary Deferred income tax
difference assets difference assets
Assets impairment
99,454,144.35 15,480,185.20 57,338,514.05 8,767,114.24
provision
Unrealized profits of
3,489,946.48 523,491.98 2,493,469.57 374,020.44
internal transactions
Deductible losses 54,153,726.96 10,274,659.50 35,034,691.49 6,463,007.68
Depreciation of fixed
73,584,592.52 11,125,764.70 75,006,724.40 11,339,084.49
assets
110
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Payroll payable 34,344,596.00 6,309,477.38 36,914,977.82 5,537,246.67
Investment income 1,208.40 181.26
Estimated liabilities 14,167,695.67 2,125,154.35 61,438,275.16 9,215,741.27
Total 279,195,910.38 45,838,914.37 268,226,652.49 41,696,214.79
(2) Deferred income tax liabilities had not been off-set
Unit: RMB Yuan
Closing balance Opening balance
Item Deductible temporary Deferred income tax Deductible temporary Deferred income tax
difference liabilities difference liabilities
Appreciation of the
enterprise merger assets
17,581,910.00 2,637,286.50 18,554,840.00 2,783,226.00
evaluation not under the
same control
Changes of the fair value
of the available-for-sale 1,727,043,435.12 259,056,515.27 84,882,751.40 12,732,412.71
financial assets
Changes of the fair value
of the tradable financial 1,281,430.46 192,214.57 8,660.00 1,299.00
assets
Total 1,745,906,775.58 261,886,016.34 103,446,251.40 15,516,937.71
(3) Deferred income tax assets or liabilities listed by net amount after off-set
Unit: RMB Yuan
Mutual set-off amount of Amount of deferred Mutual set-off amount of Amount of deferred
deferred income tax income tax assets or deferred income tax income tax assets or
Item
assets and liabilities at liabilities after off-set at assets and liabilities at liabilities after off-set at
the period-end the period-end the period-begin the period-begin
Deferred income tax
45,838,914.37 41,696,214.79
assets
Deferred income tax
261,886,016.34 15,516,937.71
liabilities
(4) List of unrecognized deferred income tax assets
Naught
111
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(5) Deductible losses of unrecognized deferred income tax assets will due the following years
Naught
30. Other non-current assets
Unit: RMB Yuan
Item Closing balance Opening balance
Land purchase and the ownership implicit
41,755,700.00 41,755,700.00
of relevant items
Prepayments for business facilities 14,053,961.49 8,844,087.19
Total 55,809,661.49 50,599,787.19
31. Short-term loans
Naught
32. Financial liabilities measured by fair value and the changes included in the current gains and losses
Naught
33. Derivative financial liabilities
□ Applicable √ Inapplicable
34. Notes payable
Naught
35. Accounts payable
(1) List of accounts payable
Unit: RMB Yuan
Category Closing balance Opening balance
Accounts payable 437,532,017.64 399,330,968.48
Total 437,532,017.64 399,330,968.48
(2) Notes of the accounts payable aging over one year
Naught
Other notes:
112
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
—The closing balance of the accounts payable of the reporting period increased of RMB 38,201,049.16 over the
period-begin with the growing rate of 9.57%, which mainly due to the increase of the payable supplier payment for goods.
—There was no any significant account payable aging over 1 year in the closing balance of the accounts payable.
36. Advance from customers
(1) List of advance from customers
Unit: RMB Yuan
Item Closing balance Opening balance
Prepayments 45,115,269.01 60,842,257.61
Total 45,115,269.01 60,842,257.61
(2) Significant advance from customers aging over one year
Naught
(3) Particulars of settled but unfinished projects formed by construction contract at period-end
Naught
Other notes:
—The closing balance of the prepayments of the reporting period decreased of RMB 15,726,988.60 over the period-begin
with the reduction amplitude of 25.85%, which was mainly due to the prepayments of the earlier stage had been settled.
—The closing balance of the prepayments was advances on sales and there was no any significant prepayments aging over 1
year.
37. Payroll payable
(1) List of Payroll payable
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
I. Short-term salary 58,315,210.64 275,118,948.58 279,349,372.99 54,084,786.23
II. Welfare after
demission - defined 18,490,516.07 18,490,516.07
contribution plans
Total 58,315,210.64 293,609,464.65 297,839,889.06 54,084,786.23
(2) List of Short-term salary
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
1. Salary, bonus, 57,918,469.34 247,792,677.36 252,027,860.83 53,683,285.87
113
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
allowance, subsidy
2. Employee welfare 9,468,807.53 9,468,807.53
3. Social insurance 12,409,028.51 12,409,028.51
Including: 1. Medical
9,485,893.97 9,485,893.97
insurance premiums
Work-related injury
1,407,155.37 1,407,155.37
insurance
Maternity insurance 1,515,979.17 1,515,979.17
4. Housing fund 8,056.18 3,221,881.20 3,206,908.73 23,028.65
5. Labor union budget
and employee education 388,685.12 2,226,553.98 2,236,767.39 378,471.71
budget
Total 58,315,210.64 275,118,948.58 279,349,372.99 54,084,786.23
(3) List of drawing scheme
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
1. Basic pension benefits 17,790,815.25 17,790,815.25
2. Unemployment
699,700.82 699,700.82
insurance
Total 18,490,516.07 18,490,516.07
Other notes:
—There was no default payroll payable in the balance of payroll payable
38. Taxes payable
Unit: RMB Yuan
Item Closing balance Opening balance
VAT 17,270,208.20 2,711,408.78
Resource tax 72,673.96 175,148.06
Business tax 22,914,704.32 4,552,997.21
Corporate income tax 6,421,356.15 693,302.18
Personal income tax 1,815,663.00 1,095,674.02
Other 2,710,727.57 4,652,583.56
Total 51,205,333.20 13,881,113.81
39. Interest payable
N/A
114
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
40. Dividends payable
N/A
41. Other accounts payable
(1) Other accounts payable listed by nature of the account
Unit: RMB Yuan
Item Closing balance Opening balance
performance bond 9,273,279.42 7,542,858.19
Relevant fees of sale 0.00 1,589,924.29
Intercourse funds 8,076,410.52 8,076,410.52
compensation for lawsuit 45,241,635.16 0.00
Other 5,036,688.05 4,714,627.48
Total 67,628,013.15 21,923,820.48
(2) Other significant accounts payable with aging over one year
Unit: RMB Yuan
Item Closing balance Unpaid/ Un-carry-over reason
Intercourse funds 8,076,410.52
Total 8,076,410.52 --
42. Liabilities classified as holding for sale
N/A
43. Non-current liabilities due within 1 year
N/A
44. Other current-liabilities
N/A
45. Long-term loan
N/A
46. Bonds payable
N/A
47. Long-term payable
N/A
48. Long term payroll payable
N/A
115
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
49. Special payable
N/A
50. Accrued liabilities
Unit: RMB Yuan
Item Closing balance Opening balance Formation reasons
Securities false statement
14,167,695.69 61,438,275.16
Estimated lawsuit compensation liability disputes
Total 14,167,695.69 61,438,275.16 --
Other notes, including related important assumptions and estimates of accrued liabilities:
-On 15 Nov. 2014 and 5 Dec. 2014, the Company respectively received Civil Judgment (2013) SZFJMCZ No. 5 and Civil
Judgment (2013) SZFJMCZ No. 756, issued by Guangzhou Intermediate Peoples Court, the judgment required the
Company pay the compensation of RMB 60,410,789.16 for each plaintiff of 955 cases of civil action upon securities false
statement liability disputes, and the Company bare the litigation fee RMB 1,027,486.00. The Company rejected to accept the
judgment, and filed a suit to Guangdong Higher People's Court. On 4 Jun. 2015, the case received the Civil Judgment from
Guangdong Higher People's Court which affirmed the original judgment; the Company transferred the withdrawn estimated
liabilities RMB 61, 438,275.16 into other account payables.
- The Company respectively received Civil Judgment (2013) SZFJMCZ No.1094 issued by Guangzhou Intermediate
Peoples Court, the judgment required the Company pay the compensation of RMB13, 923,694.69 for each plaintiff of 222
cases of civil action upon securities false statement liability disputes, and the Company bare the litigation fee RMB
44,001.00, the Company withdrawn estimated liabilities RMB 14,167,695.69 in line with the above judgment.
51. Deferred income
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance Formation reasons
Government
Government
10,955,833.27 390,000.00 105,666.79 11,240,166.48 subsidies related to
subsidies
assets income
Total 10,955,833.27 390,000.00 105,666.79 11,240,166.48 --
Items involved in government subsidies:
Unit: RMB Yuan
Amount accrued
Amount of newly Related to the
Item Opening balance in non-business Other changes Closing balance
subsidy assets/ income
income
LED production
Related to the
technical 9,852,274.95 9,852,274.95
assets
transformation
116
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
project
Production line of
50 million Related to the
774,999.96 77,499.93 697,500.03
energy-saving assets
fluorescent lamp
Project of FGD
Related to the
fly ash removal 28,166.86 28,166.86
assets
of furnace system
No electrolytic
capacitor drive Related to the
300,391.50 390,000.00 690,391.50
power supply income
technology
Total 10,955,833.27 390,000.00 105,666.79 11,240,166.48 --
52. Other non-current liabilities
N/A
53. Share capital
Unit: RMB Yuan
Increase/decrease (+/-)
Opening Capitalization
Newly issue Closing balance
balance Bonus shares of public Other Subtotal
share
reserves
The sum of
978,563,745.00 293,569,123.00 293,569,123.00 1,272,132,868.00
shares
Other notes:
-In line with the preplan of profits allocation and capital reserve transferring into share capital of 2014 reviewed and
approved by the General Shareholders’ Meeting on 27 May 2015, the Company increased 3 shares for every 10 shares to
every shareholder with capital reserve, increased share capital in total of 293,569,123.00 shares, the preplan of profits
allocation and capital reserve transferring into share capital of 2014 was finished on 17 Jun 2015.
54. Other equity instruments
N/A
55. Capital reserves
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
Capital premium 582,653,147.29 293,569,123.00 289,084,024.29
Other capital reserves 7,239,570.30 7,239,570.30
Total 589,892,717.59 293,569,123.00 296,323,594.59
Other notes, including changes and reason of change:
-In line with the preplan of profits allocation and capital reserve transferring into share capital of 2014 reviewed and
117
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
approved by the General Shareholders’ Meeting on 27 May 2015, the Company increased 3 shares for every 10 shares to
every shareholder with capital reserve, increased share capital in total of 293,569,123.00 shares, the preplan of profits
allocation and capital reserve transferring into share capital of 2014 was finished on 17 Jun 2015.
56. Treasury stock
N/A
57. Other comprehensive income
Unit: RMB Yuan
Reporting period
Less: Amount
transferred
into profit and
loss in the
Amount After-tax After-tax
Opening current period Less: Closing
Item incurred attribute to attribute to
balance that income tax balance
before the parent minority
recognized expense
income tax company shareholder
into other
comprehensive
income in
prior period
II. Other comprehensive income 72,150,338.6 1,654,893,0 259,056,51 1,395,836,5 1,467,986
reclassify into profits and losses 9 96.43 5.27 81.16 ,919.85
Profits or losses from the change of 72,150,338.6 1,654,893,0 259,056,51 1,395,836,5 1,467,986
fair value of available for sale
9 96.43 5.27 81.16 ,919.85
financial assets
72,150,338.6 1,654,893,0 259,056,51 1,395,836,5 1,467,986
0.00
Total 9 96.43 5.27 81.16 ,919.85
58. Special reserves
N/A
59. Surplus reserves
Unit: RMB Yuan
Item Opening balance Increase Decrease Closing balance
Statutory surplus
489,281,872.50 489,281,872.50
reserves
Discretional surplus
136,886,568.36 136,886,568.36
reserves
Total 626,168,440.86 626,168,440.86
118
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
60. Retained profits
Unit: RMB Yuan
Item Amount Withdrawal or distributed proportion
Opening balance of retained profits before
777,810,478.44 671,929,537.57
adjustments
Opening balance of retained profits after
777,810,478.44 671,929,537.57
adjustments
Add: Net profit attributable to owners of the
100,258,759.31 188,959,139.45
Company
Dividend of common stock payable 215,284,023.90 156,570,199.20
Closing retained profits 662,785,213.85 704,318,477.82
List of adjustment of opening retained profits:
1) RMB 000 opening retained profits was affected by retrospective adjustment conducted according to the Accounting Standards for Business
Enterprises and relevant new regulations.
2) RMB 000 opening retained profits was affected by changes on accounting policies.
3) RMB 000 opening retained profits was affected by correction of significant accounting errors.
4) RMB 000 opening retained profits was affected by changes in combination scope arising from same control.
5) RMB 000 opening retained profits was affected totally by other adjustments.
61. Revenue and Cost of Sales
Unit: RMB Yuan
2015 2014
Item
Revenue Cost Revenue Cost
Main operation 1,511,711,913.81 1,160,678,870.83 1,527,520,198.14 1,144,349,961.56
Other operation 12,650,872.68 5,364,570.18 15,538,559.89 11,867,318.59
Total 1,524,362,786.49 1,166,043,441.01 1,543,058,758.03 1,156,217,280.15
62. Business tax and surcharges
Unit: RMB Yuan
Item 2015 2014
Business tax 663,020.91 714,498.78
Urban maintenance and construction tax 6,547,903.14 8,389,063.00
Education surtax 4,713,909.73 6,026,392.52
Total 11,924,833.78 15,129,954.30
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63. Sales expenses
Unit: RMB Yuan
Item 2015 2014
Transportation expenses 30,979,809.21 23,683,251.76
Service charges on promotion of
6,103,936.07 3,088,819.85
energy-saving products
Payroll 22,850,138.19 19,829,713.47
Business propagandize fee 9,569,210.87 5,850,819.24
Travel charge 2,050,131.78 1,349,726.52
Sales promotion fee& dealer meeting
7,365,122.95 4,402,514.31
expense
Street light project maintenance fee 104,300.00 2,711,494.40
Other 3,201,731.20 2,051,573.38
Total 82,224,380.27 62,967,912.93
64. Administrative expenses
Unit: RMB Yuan
Item 2015 2014
Employee’s remuneration 35,440,893.79 31,108,589.63
Depreciation charge 12,550,537.58 10,463,236.40
Tax expenses 8,023,991.73 8,327,329.62
Office expenses 3,086,027.82 3,279,753.58
Amortization of intangible assets 3,019,175.39 2,610,636.23
Research and development expenses 3,669,947.35 3,604,623.15
Testing expense 652,439.04 886,083.99
Other 47,852,835.99 44,215,086.85
Total 114,295,848.69 104,495,339.45
65. Financial expenses
Unit: RMB Yuan
Item 2015 2014
Interest expenses
Less: Interest revenue 7,469,744.78 7,550,981.32
Exchange loss -5,153,449.97 1,194,090.82
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Others 1,415,253.95 623,542.87
Total -11,207,940.80 -5,733,347.63
66. Asset impairment loss
Unit: RMB Yuan
Item 2015 2014
I. Bad debts losses 6,742,683.01 8,025,505.65
II. Impairment losses of inventory 0.00 -4,552,311.43
VII. Impairment losses of fixed assets 37,880,650.98 0.00
VIII. Impairment losses of engineering
2,000,000.00 0.00
materials
Total 46,623,333.99 3,473,194.22
67. Gains on the changes in the fair value
Unit: RMB Yuan
Source 2015 2014
Financial assets measured at fair value and
changes recorded into current profits and 1,272,770.46 1,115,756.46
losses
Total 1,272,770.46 1,115,756.46
68. Investment income
Unit: RMB Yuan
Item 2015 2014
Long-term equity investment calculated by
-1,208.40 -2,595,523.09
equity method
Investment income obtained through disposal of
0.00 -17,112.47
long-term equity investment
Investment income obtained through financial
assets measured at fair value and changes
870.00 0.00
recorded into current profits and losses during
holding period
Investment income obtained through disposal of
financial assets measured at fair value and 640,080.26 -997,145.30
changes recorded into current profits and
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losses
Investment income obtained through holding
available-for-sale financial assets during holding 3,449,696.24 21,942,835.20
period
Investment income obtained through disposal of
17,063,266.56 0.00
available for sale financial assets
Other -443,538.84 -217,648.56
Total 20,709,165.82 18,115,405.78
69. Non-operating gains
Unit: RMB Yuan
Recorded in the amount of the
Item 2015 2014
non-recurring gains and losses
Total gains from disposal of
6,114.53 3,458.00 6,114.53
non-current assets
Including: Gains from disposal
6,114.53 3,458.00 6,114.53
of fixed assets
Government subsidy 2,519,246.86 2,603,201.80 2,519,246.86
Other 419,340.96 687,707.26 419,340.96
Total 2,944,702.35 3,294,367.06 2,944,702.35
Government subsidies recorded into current profits and losses
Unit: RMB Yuan
Item 2015 2014 Related to the assets/ income
Fiscal subsidy for high
efficiency lighting product 2,279,702.00 Related to the income
promotion
Guangdong province hundreds
and millions of LED indoor
1,802,496.00 Related to the income
lighting demonstration zone
construction project engineering
Reward subsidy for No.
36Yellow Label Car weeding 13,000.00 Related to the income
out
Project of FGD fly ash removal
28,166.86 84,499.98 Related to the assets
of furnace system
Production line of 50 million
77,499.93 77,499.82 Related to the assets
energy-saving fluorescent lamp
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Special fund (external
116,000.00 Related to the income
development service)
Special fund for Guangdong
province steady growth and 66,666.67 Related to the income
adjusting the structure
2014 Suzhou No. 32 Sci-tech
90,000.00 Related to the income
development project funds
Clean energy reward for social
Development Management
330,000.00 Related to the income
Branch of Luocun Town,
Nanhai District, Foshan City
Other scattered government
124,417.40 32,500.00 Related to the income
grants
Total 2,519,246.86 2,603,201.80 --
70. Non-operating expenses
Unit: RMB Yuan-
The amount included in the
Item 2015 2014 current non-recurring gains and
losses
Total losses from disposal of
397,124.46 109,843.02 397,124.46
non-current assets
Including: Losses from disposal
397,124.46 109,843.02 397,124.46
of fixed assets
lawsuit compensation 14,167,695.69 14,167,695.69
Other 371,344.00 5,612.46 371,344.00
Total 14,936,164.15 115,455.48 14,936,164.15
71. Income tax expense
(1) Lists of income tax expense
Unit: RMB Yuan
Item 2015 2014
Current income tax expense 30,879,655.70 42,878,291.11
Deferred income tax expense -2,945,888.59 -1,188,427.16
Total 27,933,767.11 41,689,863.95
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(2) Adjustment process of accounting profit and income tax expense
Unit: RMB Yuan
Item 2015
Total profits 124,449,364.03
Current income tax expense accounted by tax and relevant
18,667,404.60
regulations
Influence of different tax rate suitable to subsidiary 327,018.16
Influence of income tax before adjustment 11,830,221.06
Influence of non taxable income -3,076,944.42
Influence of not deductable costs, expenses and losses 186,067.71
Income tax expense 27,933,767.11
72. Other comprehensive income
Refer to the notes No. 57 of VII, Notes on major items in consolidated financial statements of the Company
73. Supplementary information to cash flow statement
(1) Other cash received relevant to operating activities
Unit: RMB Yuan
Item 2015 2014
Deposit interest 5,785,682.33 7,586,039.03
Income form waste good 1,274,788.64 3,623,492.20
Property and rental income 1,136,667.64 862,652.72
Guaranteed income 431,500.00 389,010.50
subsidize revenue 2,983,009.39 0.00
Other 1,936,655.57 1,902,829.60
Total 13,548,303.57 14,364,024.05
(2) Other cash paid relevant to operating activities
Unit: RMB Yuan
Item 2015 2014
Transport charges 36,536,448.87 28,771,464.91
Donations, punishment, lawsuit
16,443,916.00 0.00
compensation
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Advertising expense 11,248,789.70 5,864,699.17
Audit fees, attorney fees, appraisal cost
6,535,761.28 5,139,087.70
and detect cost
business office expenses 3,651,094.22 4,145,450.36
The spare parts, maintenance, and service
1,958,384.21 3,429,401.85
charge
Cash deposit 2,296,906.74 196,977.59
Travel expense 3,689,247.96 2,619,111.61
Commission 387,472.35 528,054.46
Energy-saving promotion fee 4,239,305.40 2,274,633.66
Street light project construction and
1,311,367.18 5,955,954.21
maintenance
Land rent, plant rental and management
1,361,983.61 2,938,578.35
fee
Trademark fee& patent fee 445,459.94 2,753,625.50
Other 6,128,849.74 7,220,228.47
Total 96,234,987.20 71,837,267.84
(3) Other cash received relevant to investment activity
N/A
(4) Other cash paid relevant to investment activity
N/A
(5) Other cash received relevant to financing activities
Unit: RMB Yuan
Item 2015 2014
Bank loan interest 2,452.04
Total 2,452.04
(6) Other cash paid relevant to financing activities
Unit: RMB Yuan
Item 2015 2014
Repay the bank loan 2,000,000.00
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pay the bank loan interest 34,300.00
Total 2,034,300.00
74. Supplementary information to cash flow statement
(1) Information of net profit to net cash flows generated from operating activities
Unit: RMB Yuan
Item 2015 2014
1. Reconciliation of net profit to net cash
-- --
flows generated from operating activities
Net profit 96,515,596.92 187,228,634.48
Add: Provision for impairment of assets 46,623,333.99 3,473,194.22
Depreciation of fixed assets, of oil-gas
36,034,850.96 40,950,477.19
assets, of productive biological assets
Amortization of intangible assets 3,073,889.51 2,614,544.78
Amortization of long-term deferred
515,785.87
expense
Losses on disposal of property, plant
and equipment, intangible assets and other -3,458.00
long-term assets (gains: negative)
Losses on retirement of fixed assets 391,009.93 109,843.02
Losses from variation of fair value -1,272,770.46 -1,115,756.46
Financial cost (gains: negative) 1,839,130.38 1,773,859.83
Investment loss (gains: negative) -20,709,165.82 -18,115,405.78
Decrease in deferred income tax assets
2,229,221.95 -131,496.78
(“+” means increase)
Increase in deferred income tax
liabilities 190,915.57
(“-” means decrease)
Decrease in inventory (increase:
20,977,215.53 -67,364,054.08
negative)
Decrease in accounts receivable from
operating activities -143,332,226.48 -207,787,480.72
(increase: negative)
Increase in payables from operating
activities 56,197,559.85 196,808,865.07
(decrease: negative)
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Net cash flows generated from operating
99,274,347.70 138,441,766.77
activities
2. Investing and financing activities that do
-- --
not involving cash receipts and payment:
3. Net increase in cash and cash equivalents -- --
Closing balance of cash 874,167,564.37 861,415,714.44
Less: Opening balance of cash 989,718,395.60 897,675,824.22
Net increase in cash and cash equivalents -115,550,831.23 -36,260,109.78
(2) Net Cash paid of obtaining the subsidiary
N/A
(3) Net Cash receive of disposal of the subsidiary
N/A
(4) Cash and cash equivalents
Unit: RMB Yuan
Item Closing balance Opening balance
I. Cash 874,167,564.37 989,718,395.60
Including: Cash on hand 7,306.67 13,150.43
Bank deposit on demand 787,251,674.33 915,022,578.88
Other monetary funds on demand 86,908,583.37 74,665,506.29
III. Closing balance of cash and cash
874,167,564.37 989,718,395.60
equivalents
Of which: cash and cash equivalents with
restricted using in parent company or 17,160.00 17,160.00
subsidiary in the Group
75. Note of statement of changes in the owner's equity
Explain "other" project name and adjustment amount of the adjustment of closing balance in previous year, etc.:
Inapplicable
76. The assets with the ownership or use right restricted
Unit: RMB Yuan
Item Closing book value Restricted reason
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Monetary capital 17,160.00 The quality guarantee deposit
Total 17,160.00 --
77. Foreign currency monetary items
(1) Foreign currency monetary items
Unit: RMB Yuan
Closing foreign currency Closing convert to RMB
Item Exchange rate
balance balance
Monetary capital -- -- 6,939,608.30
Including: USD 1,134,139.86 6.1136 6,933,677.45
EUR 863.31 6.8699 5,930.85
Account receivable -- -- 85,512,192.87
Including: USD 13,987,207.68 6.1136 85,512,192.87
(2) Note to oversea entities including: for significant oversea entities, shall disclose main operating place, recording
currency and selection basis, if there are changes into recording currency, shall also disclose the reason.
□ Applicable √ Inapplicable
78. Arbitrage
N/A
79. Other
N/A
VIII. Changes of merge scope
There was no change of merge scope in the Company during reporting period
IX. Equity in other entities
1. Equity in subsidiary
(1) The structure of the enterprise group
Name of the Main operating Registration Nature of Proportion of shareholding
Way of gaining
subsidiary place place business Directly Indirectly
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Foshan
Chansheng Production and Newly
Foshan Foshan 100.00%
Electronic Ballast
sales established
Co., Ltd.
Foshan
Chanchang
Electric Production and Newly
Foshan Foshan 70.00%
Appliance
sales established
(Gaoming) Co.,
Ltd.
Foshan Taimei
Production and Newly
Times Lamps and Foshan Foshan 70.00%
Lanterns Co., Ltd. sales established
Guangdong
Fozhao New
Production and Newly
Light Sources Foshan Foshan 100.00%
sales established
Technology Co.,
Ltd.
Foshan Electrical
& Lighting Production and Newly
Xinxiang Xinxiang 100.00%
(Xinxiang) Co.,
sales established
Ltd.
Guangdong
Newly
Fozhao Leasing Foshan Foshan Finance lease 100.00%
Co., Ltd. established
Foshan Lighting
Lamps & Production and Newly
Foshan Foshan 100.00%
Components Co.,
sales established
Ltd.
Nanjing Fozhao
Lighting
Production and
Components Nanjing Nanjing 100.00% Acquisition
Manufacturing sales
Co., Ltd.
Suzhou Suzhou Acquisition,
Suzhou Mont Production and
50.50% increase capital or
Lighting Co., Ltd.
sales shares
Notes: holding proportion in subsidiary different from voting proportion:
Inapplicable
Basis of holding half or less voting rights but still been controlled investee and holding more than half of the voting rights not been controlled
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investee:
Inapplicable
Significant structure entities and controlling basis in the scope of combination:
Inapplicable
Basis of determine whether the Company is the agent or the principal:
Inapplicable
(2) Significant not wholly owned subsidiary
Unit: RMB Yuan
Shareholding The profits and losses Declaring dividends Balance of minority
Name proportion of minority arbitrate to the minority distribute to minority shareholder at closing
shareholder shareholders shareholder period
Foshan Chanchang
Electric Appliance 30.00% -449,572.77 0.00 28,808,508.33
(Gaoming) Co., Ltd.
Foshan Taimei Times
Lamps and Lanterns Co., 30.00% 780,924.00 0.00 8,601,174.04
Ltd.
Suzhou Mont Lighting
49.50% -4,074,513.62 0.00 8,761,353.90
Co., Ltd.
Total -3,743,162.39 0.00 46,171,036.27
Holding proportion of minority shareholder in subsidiary different from voting proportion:
Inapplicable
(3) The main financial information of significant not wholly owned subsidiary
Unit: RMB Yuan
Closing balance Opening balance
Non-curr Non-curr Non-curr Non-curr
Name Current Total Current Total current Total Current Total
ent ent ent ent
assets assets liabilities liability assets assets liabilities liability
assets liability assets liability
Foshan
Chancha
ng
Electric
64,257,8 36,654,2 100,912, 4,883,68 4,883,68 63,532,5 39,007,1 102,539, 5,012,74 5,012,74
Applianc 0.00 0.00
09.92 37.52 047.44 6.33 6.33 57.96 26.25 684.21 7.19 7.19
e
(Gaomin
g) Co.,
Ltd.
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Foshan
Taimei
Times
47,771,7 8,437,74 56,209,4 27,538,8 27,538,8 49,205,5 9,560,69 58,766,2 32,698,7 32,698,7
Lamps 0.00 0.00
15.61 2.81 58.42 78.30 78.30 94.26 7.64 91.90 91.79 91.79
and
Lanterns
Co., Ltd.
Suzhou
Mont 24,864,9 27,109,6 51,974,6 31,637,6 2,637,28 34,274,8 40,855,1 7,957,88 48,813,0 38,653,6 38,653,6
0.00
Lighting 74.61 26.13 00.74 09.38 6.50 95.88 46.44 6.07 32.51 01.00 01.00
Co., Ltd.
136,894, 72,201,6 209,096, 64,060,1 2,637,28 66,697,4 153,593, 56,525,7 210,119, 76,365,1 76,365,1
Total 0.00
500.14 06.46 106.60 74.01 6.50 60.51 298.66 09.96 008.62 39.98 39.98
Unit: RMB Yuan
Closing balance Opening balance
Total Total
Name Operation Operating Operation Operating
Net profit comprehensi Net profit comprehensi
revenue cash flow revenue cash flow
ve income ve income
Foshan
Chanchang
Electric 18,925,514.2 46,229,159.4
-1,498,575.91 -1,498,575.91 -5,993,838.17 -8,539,959.10 -8,539,959.10 2,590,237.49
Appliance 2 7
(Gaoming)
Co., Ltd.
Foshan
Taimei Times
67,478,345.3 86,036,195.5
Lamps and 2,603,080.01 2,603,080.01 -4,255,519.21 5,359,257.37 5,359,257.37 2,853,407.24
3 9
Lanterns Co.,
Ltd.
Suzhou Mont
21,929,521.7
Lighting Co., -8,231,340.65 -8,231,340.65 -1,058,653.37 7,792,353.61 -1,568,271.61 -1,568,271.61 -5,999,197.22
6
Ltd.
108,333,381. -11,308,010.7 140,057,708.
Total -7,126,836.55 -7,126,836.55 -4,748,973.34 -4,748,973.34 -555,552.49
31 5 67
(4) Significant restrictions of using enterprise group assets and pay off enterprise group debt
N/A
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(5) Provide financial support or other support for structure entities incorporate into the scope of consolidated
financial statements
N/A
2. The transaction of the Company with its owner’s equity share changed but still controlling the subsidiary
(1) Note to owner’s equity share changed in subsidiary
N/A
(2) The transaction’s influence to equity of minority shareholders and attributable to the owner's equity of the
parent company
N/A
3. Equity in joint venture arrangement or associated enterprise
(1) Significant joint venture arrangement or associated enterprise
N/A
(2) Main financial information of significant joint venture
N/A
(3) Main financial information of significant associated enterprise
N/A
(4) Summary financial information of insignificant joint venture or associated enterprise
Unit: RMB Yuan
Closing balance /2015 Opening balance/2014
Joint venture: -- --
The total of following items according to the
-- --
shareholding proportions
Associated enterprise: -- --
Book value of total investment 3,688,515.99 3,689,724.39
The total of following items according to the
-- --
shareholding proportions
--Net profits -1,208.40 -2,595,523.09
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(5) Note to the significant restrictions of the ability of joint venture or associated enterprise transfer funds to the
Company
N/A
(6) The excess loss of joint venture or associated enterprise
N/A
(7) The unrecognized commitment related to joint venture investment
N/A
(8) Contingent liabilities related to joint venture or associated enterprise investment
N/A
4. Significant common operation
N/A
5. Equity of structure entity not including in the scope of consolidated financial statements
N/A
6. Other
N/A
X. The risk related financial instruments
The financial instruments of the Company included: monetary funds, accounts receivable, notes receivable, accounts
payable, etc. The details of each financial instrument see relevant items of note V.
The main risks of the Company due to financial instruments were credit risk, liquidity risk and market risk. The operating
management of the Company was responsible for the risk management target and the recognition of the policies.
1 Credit risk,
Credit risk was one party of the contract failed to fulfill the obligations and causes loss of financial assets of the other party.
The credit risk the Company faced was selling on credit which leads to customer credit risk.
The Company will evaluate credit risk of new customer, and set credit limit, once the balance of account receivable over
credit limit, require the customer to pay or producing and delivering goods shall be approved by the management of the
Company.
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
The Company through monthly aging analysis of account receivable and monitoring the collection situation of the customer
ensured the overall credit risk of the Company was in control scope. Once appear abnormal situation, the Company should
conduct necessary measures to requesting the payment timely.
2. Liquidity Risk
Liquidity risk was referred to there risk of incurring capital shortage when performing settlement obligation in the way of
cash payment or other financial assets. The policies of the Company were to ensure that there was sufficient cash to pay the
due liabilities. The liquidity risk was centralized controlled by the financial department of the Company. The financial
department through supervising the balance of the cash and securities can be convert to cash at any time and the rolling
prediction of cash flow in future 12 months to ensure the Company have sufficient cash to pay the liabilities under the case
of all reasonable prediction, Each financial liability of the Company was estimated due within 1 year.
3. Market risk
Market risk was referred to risk of the fair value or future cash flow of financial instrument changed due to the change of
market price, including: exchange rate risk, interest rate risk and other price risk.
A. Exchange rate risk
Exchange rate risk was referred to the possible loss due to changes of exchange rate in the financial activities that economic
agents held or used the foreign exchange. The Company’s export business was settled by USD which avoided exchange risk
the Company faced in transaction. .
B. Interest rate risk
Interest rate risk was referred to risk of the fair value or future cash flow of financial instrument changed due to the change
of market interest risk. There was no bank loan in the Company, thus no RMB benchmark interest rate changes
C. Other price risk
N/A
XI. The disclosure of the fair value
1. Closing fair value of assets and liabilities calculated by fair value
Unit: RMB Yuan
Closing fair value
Item Fair value measurement Fair value measurement Fair value measurement
Total
items at level 1 items at level 2 items at level 3
I. Consistent fair value
-- -- -- --
measurement
(I) Financial assets 2,608,830.00 2,608,830.00
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
calculated by fair value
and changes record into
current profits or losses
2. Appointed financial
assets calculated by fair
value and changes record 2,608,830.00 2,608,830.00
into current profits or
losses
(2) Equity instrument
2,608,830.00 2,608,830.00
investment
(II) Available-for-sale
1,910,693,182.94 1,910,693,182.94
financial assets
(2) Equity instrument
1,910,693,182.94 1,910,693,182.94
investment
II. Inconsistent fair value
-- -- -- --
measurement
2. Market price recognition basis for consistent and inconsistent fair value measurement items at level 1
The item that the Company calculated with fair value were the Company’s holding shares of China Everbright Bank and
Jiangsu Dongyuan Elec'l Grp Co.,Ltd.. The recognition of closing fair value was based on the closing price of last
transaction date in Jun. 2015.
XII. Related party and related Transaction
1. Information related to parent company of the Company
Notes:
There was no direct controlling parent company in the Company
2. Subsidiaries of the Company
See details to Notes Equity in subsidiary
3. Information on the joint ventures and associated enterprises of the Company
The details of significant joint venture and associated enterprise of the Company see Notes Equity in joint venture
arrangement or associated enterprise
4. Information on other related parties of the Company
Name Relationship
Prosperity (Hangzhou) Lighting and Electrical Co., Ltd. Company controlled by related natural person
Hangzhou Times Lighting and Electrical Co., Ltd. Company controlled by related natural person
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Prosperity Electrical (China) Co., Ltd. Company controlled by related natural person
Prosperity Lamps and Components Ltd. Shareholder owning over 5% shares
Prosperity (Xinxiang) Electro-Optical Machinery Co., Ltd Company controlled by related natural person
Prosperity (Xinxiang) Lighting Machinery Co., Ltd. Company controlled by related natural person
Acting-in-concert party of a corporation with a stake over 5% in
OSRAM (China) Lighting Co., Ltd.
the Company
Acting-in-concert party of a corporation with a stake over 5% in
OSRAM Asia Pacific Ltd.
the Company
Prosperity Xiteke Lighting (Langfang) Co., Ltd. Company influenced by related natural person
Shanghai Linxian Mechanical and Electrical Equipment Co., Ltd. Related natural person as a senior manager in the company
Qinghai Salt Lake Fozhao Lanke Lithium Industry Co., Ltd. Subsidiary of joint venture
5. List of related-party transactions
(1) Information on acquisition of goods and reception of labor service (unit: ten thousand Yuan)
Acquisition of goods and reception of labor service
Unit: RMB Yuan
Trading limit Over the trading limit
Related-party Content 2015 2014
approved or not?
Prosperity Lamps
Purchase of
and Components 6,199,780.58 7,000,000.00 No 1,775,250.56
materials
Ltd.
Prosperity Electrical Purchase of
11,980,714.88 30,000,000.00 No 14,287,405.97
(China) Co., Ltd. materials
Hangzhou Times
Purchase of
Lighting and 1,886,095.56 3,000,000.00 No 1,480,293.13
materials
Electrical Co., Ltd.
Prosperity
(Xinxiang) Purchase of
169,129.06 2,000,000.00 No 0.00
Electro-Optical equipments
Machinery Co., Ltd
Total 20,235,720.08 42,000,000.00 No 17,542,949.66
Information of sales of goods and provision of labor service
Unit: RMB Yuan
Related-party Content 2015 2014
Prosperity Lamps and
Sale of products 16,513,390.54 19,860,345.46
Components Ltd.
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Prosperity (Hangzhou) Lighting
Sale of products 1,231,915.65 3,687,779.13
and Electrical Co., Ltd.
Prosperity Electrical (China)
Sale of products 475,973.15 245,382.68
Co., Ltd.
OSRAM (China) Lighting Co.,
Sale of products 8,267,791.27 4,663,440.83
Ltd.
OSRAM Asia Pacific Ltd. Sale of products 6,634,481.40 18,160,268.95
Shanghai Linxian Mechanical
and Electrical Equipment Co., Sale of products 109,372.97
Ltd.
Hangzhou Times Lighting
Sale of products 2,448.72
Appliance Co., Ltd.
Total 33,232,924.98 46,619,665.77
(2) Related trusteeship/contract
N/A
(3) Information of related lease
The Company was lessor:
Unit: RMB Yuan
The lease income confirmed in The lease income confirmed in
Name of lessee Category of leased assets
this year last year
Shanghai Linxian Mechanical
and Electrical Equipment Co., Rent 22,500.00
Ltd.
(4) Related-party guarantee
N/A
(5) Inter-bank lending of capital of related parties
N/A
(6) Related party asset transfer and debt restructuring
N/A
(7) Rewards for the key management personnel
Unit: RMB Yuan
137
2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Item 2015 2014
President 945,000.00 900,000.00
Vice president &GM 708,750.00 675,000.00
Chief of the board of supervisors 259,998.00 208,332.00
Secretary of the board 358,314.00 341,250.00
CFO 567,000.00 540,000.00
Other 1,569,321.00 1,390,748.00
Total 4,408,383.00 4,055,330.00
6. Receivables and payables of related parties
(1) Receivables
Unit: RMB Yuan
Closing period Opening period
Item Related party
Book balance Bad debt provision Book balance Bad debt provision
Prosperity
(Hangzhou) Lighting
Account receivable 1,265,367.27 75,922.04 3,448,847.23 206,930.83
and Electrical Co.,
Ltd.
Prosperity Electrical
Account receivable 323,542.44 19,412.55 837,052.54 50,223.15
(China) Co., Ltd.
OSRAM (China)
Account receivable 10,371,325.77 622,279.55 2,630,821.95 157,849.32
Lighting Co., Ltd.
Prosperity Lamps
Account receivable and Components 5,927,898.08 355,673.88 6,365,602.04 381,936.12
Ltd.
OSRAM Asia
Account receivable 3,531,693.32 211,901.60 13,267,801.82 796,068.11
Pacific Ltd.
Shanghai Linxian
Mechanical and
Account receivable 54,385.39 3,263.12 44,374.26 2,662.46
Electrical Equipment
Co., Ltd.
Prosperity
Other non-current (Xinxiang)
841,790.00 836,309.00
assets Electro-Optical
Machinery Co., Ltd
Total 22,316,002.27 1,288,452.74 27,430,808.84 1,595,669.99
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(2) Payables
Unit: RMB Yuan
Item Related party Closing book value Opening book value
Prosperity Lamps and
Accounts payable 2,621,980.94 2,558,944.00
Components Ltd.
Prosperity Electrical (China)
Accounts payable 7,243,251.60 8,885,342.91
Co., Ltd.
Hangzhou Times Lighting
Accounts payable 1,106,815.75 739,825.37
Appliance Co., Ltd.
Prosperity (Xinxiang)
Accounts payable Electro-Optical Machinery Co., 389,464.96 234,694.87
Ltd
Prosperity (Xinxiang) Lighting
Other account payable 7,400.00 7,400.00
Machinery Co., Ltd.
Prosperity Lamps and
Other account payable 408,827.77
Components Ltd.
Shanghai Linxian Mechanical
Receivable in advance and Electrical Equipment Co., 29,110.68 6,610.68
Ltd.
Total 11,398,023.93 12,841,645.60
XIII. Stock payment
1. The Stock payment overall situation
□ Applicable √ Inapplicable
2. The Stock payment settled by equity
□ Applicable √ Inapplicable
3. The Stock payment settled by cash
□ Applicable √ Inapplicable
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
4. Modification and termination of the stock payment
N/A
5. Other
N/A
XIV. Commitments
1. Significant commitments
Significant commitments at balance sheet date
As of 30 Jun. 2015, there was no significant commitment or contingency in the Company.
2. Contingency
(1) Significant contingency at balance sheet date
N/A
(2) The Company have no significant contingency to disclose, also should be stated
There was no significant contingency in the Company.
XV. Events after balance sheet date
N/A
XVI. Other significant events
N/A
XVII. Notes of main items in the financial statements of the Company
1. Accounts receivable
(1) Accounts receivable classified by category
Unit: RMB Yuan
Closing balance Opening balance
Provision for bad
Book balance Book balance Provision for bad debts
Category debts
Book
Book value
Proportio Withdra value Proportio Withdrawal
Amount Amount Amount Amount
n (%) wal n (%) Proportion
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Proportio (%)
n (%)
Accounts receivable
withdrawal of bad
513,423, 26,835,5 486,587,8 355,364 19,571,30 335,793,10
debt provision of by 99.78% 5.23% 99.81% 5.51%
390.18 89.65 00.53 ,408.20 4.68 3.52
credit risks
characteristics:
Accounts receivable
with insignificant
single amount but
1,126,14 1,126,14 664,739 664,739.6
large risks of groups 0.22% 100.00% 0.00 0.19% 100.00% 0.00
4.41 4.41 .65 5
after grouping by
credit risks
characteristics
514,549, 27,961,7 486,587,8 356,029 20,236,04 335,793,10
Total 100.00% 5.43% 100.00% 5.68%
534.59 34.06 00.53 ,147.85 4.33 3.52
Accounts receivable with insignificant single amount but large risks of groups after grouping by credit risks characteristics at the end of reporting
period.
□ Applicable √ Inapplicable
In the groups, accounts receivable adopting aging analysis method to withdraw bad debt provision:
√Applicable □ Inapplicable
Unit: RMB Yuan
Closing balance
Aging
Accounts receivable Provision for bad debts Proportion (%)
Subentry within 1 year
Within 1 year 413,985,381.41 24,839,122.88 6.00%
Subtotal of within 1 year 413,985,381.41 24,839,122.88 6.00%
1-2 years 23,293,616.71 1,397,617.00 6.00%
2-3 years 8,683,417.16 521,005.03 6.00%
Over 3 years 1,297,412.25 77,844.74 6.00%
Total 447,259,827.53 26,835,589.65 6.00%
Notes:
In the groups, accounts receivable adopting balance percentage method to withdraw bad debt provision:
□ Applicable √ Inapplicable
(2) Bad debt provision withdrawal, reversed or recovered in the report period
The amount of bad debt provision was RMB 7,725,689.73; the amount of reversed or recovered bad debt provision in the
report period was of RMB 0.00.
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(3) Particulars of the actual verification of accounts receivable during the reporting period
N/A
(4) Top five of account receivable of closing balance collected by arrears party
Name of the entity Relationship Amount Year Proportion (%) Closing balance of
bad debt provision
Entity 1 Non-related party 24,998,850.49 5.42% 1,499,931.03
Within 1 year
Entity 2 Non-related party 19,009,979.64 4.12% 1,140,598.78
Within 1 year
Entity 3 Non-related party 13,904,257.90 3.01% 834,255.47
Within 2 years
Entity 4 Related party 10,371,325.77 2.25% 622,279.55
Within 1 year
Entity 5 Non-related party 9,531,454.48 2.07% 571,887.27
Within 1 year
Total -- 77,815,868.28 -- 16.87% 4,668,952.10
(5) Derecogniziton of account receivable due to the transfer of financial assets
N/A
(6) The amount of the assets and liabilities formed by the transfer and the continues involvement of accounts
receivable
N/A
2. Other account receivable
(1) Other account receivable classified by category
Unit: RMB Yuan
Closing balance Opening balance
Provision for bad
Book balance Book balance Provision for bad debts
debts
Category Withdra Book
Book value
Proportio wal value Proportio Withdrawal
Amount Amount Amount Amount
n (%) proportio n (%) proportion
n
Other accounts
92,193,5 3,985,30 88,208,21 147,003 4,674,595 142,329,03
receivable 100.00% 4.32% 100.00% 3.18%
13.32 1.34 1.98 ,635.15 .70 9.45
withdrawal of bad
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
debt provision of by
credit risks
characteristics:
92,193,5 3,985,30 88,208,21 147,003 4,674,595 142,329,03
Total 100.00% 4.32% 100.00% 3.18%
13.32 1.34 1.98 ,635.15 .70 9.45
Other accounts receivable with insignificant single amount but large risks of groups after grouping by credit risks characteristics at the end of
reporting period
□ Applicable √ Inapplicable
In the groups, other accounts receivable adopting aging analysis method to withdraw bad debt provision:
√Applicable □ Inapplicable
Unit: RMB Yuan
Closing balance
Aging
Other account receivable Provision for bad debts Proportion (%)
Subentry within 1 year
Within 1 year 63,991,811.86 3,839,508.71 6.00%
Subtotal of within 1 year 63,991,811.86 3,839,508.71 6.00%
1-2 years 1,537,118.61 92,227.12 6.00%
2-3 years 140,991.90 8,459.51 6.00%
Over 3 years 751,766.69 45,106.00 6.00%
Total 66,421,689.06 3,985,301.34 6.00%
Notes:
In the groups, other accounts receivable adopting balance percentage method to withdraw bad debt provision:
□ Applicable √ Inapplicable
In the groups, other accounts receivable adopting other methods to withdraw bad debt provision:
□ Applicable √ Inapplicable
(2) Bad debt provision withdrawal, reversed or recovered in the report period
The amount of bad debt provision was RMB 0.00, the amount of reversed or recovered bad debt provision in the report
period RMB 689,294.36.
(3) Particulars of the actual verification of other accounts receivable during the reporting period
N/A
(4) Other account receivable classified by account nature
Unit: RMB Yuan
Nature Closing book value Opening book value
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Internal business group 25,771,824.26 69,093,706.51
Finance subsidy for efficient lighting
59,469,642.24 59,524,157.04
promotion project.
VAT export tax refunds 0.00 9,474,039.36
Performance bond 2,348,691.60 3,279,191.60
Staff borrow and deposit 1,361,253.85 1,802,527.06
Rental and utilities 504,236.02 1,128,036.38
Related payment of street light construction 2,523,547.23 2,523,547.23
Other 214,318.12 178,429.97
Total 92,193,513.32 147,003,635.15
(5) The top five other account receivable classified by debtor at period end
Unit: RMB Yuan
Closing balance of
Entity Nature Closing balance Aging Proportion%
bad debt provision
Finance subsidy for
Entity 1 efficient lighting 59,469,642.24 Within 2 years 64.51% 3,568,178.53
promotion project.
Payment of
Entity 2 construction made 2,523,547.23 Within 2 years 2.74% 151,412.83
on behalf
Entity 3 Performance bond 1,000,000.00 Within 1 year 1.08% 60,000.00
Entity 4 Performance bond 483,000.00 Within 3 years 0.52% 28,980.00
Entity 5 Performance bond 480,000.00 Within 1 year 0.52% 28,800.00
Total -- 63,956,189.47 -- 69.37% 3,837,371.36
(6) Accounts receivable involved with government subsidies
Unit: RMB Yuan
Project of government Estimated received time,
Name of units Closing balance Closing age
subsidies amount and basis
Finance subsidy for
Financial Bureau efficient lighting 59,469,642.24 Within 2 years 2015
promotion project.
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Total -- 59,469,642.24 -- --
(7) Other account receivable which terminate the recognition owning to the transfer of the financial assets
N/A
(8) The amount of the assets and liabilities formed by the transfer and the continues involvement of other accounts
receivable
N/A
3. Long term equity investment
Unit: RMB Yuan
Closing balance Opening balance
Item bad debt bad debt
Book balance Book value Book balance Book value
provision provision
Investment to
441,949,939.76 441,949,939.76 441,949,939.76 441,949,939.76
subsidiary
Investment to
associate 3,688,515.99 3,688,515.99 3,689,724.39 3,689,724.39
enterprises
Total 445,638,455.75 445,638,455.75 445,639,664.15 445,639,664.15
(1) Investment to the subsidiary
Unit: RMB Yuan
Withdrawn
Closing balance
impairment
Entity Opening balance Increase Decrease Closing balance of impairment
provision in the
provision
reporting period
Foshan Chansheng
Electronic Ballast 2,744,500.00 2,744,500.00
Co., Ltd.
Foshan Chanchang
Electric Appliance
42,000,000.00 42,000,000.00
(Gaoming) Co.,
Ltd.
Foshan Taimei
350,000.00 350,000.00
Times Lamps and
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Lanterns Co., Ltd.
Nanjing Fozhao
Lighting
Components 72,000,000.00 72,000,000.00
Manufacturing
Co., Ltd.
Foshan Electrical
& Lighting
35,418,439.76 35,418,439.76
(Xinxiang) Co.,
Ltd.
Guangdong
Fozhao New Light
Sources 50,077,000.00 50,077,000.00
Technology Co.,
Ltd.
Guangdong
Fozhao Financial 200,000,000.00 200,000,000.00
Leasing Co., Ltd.
FSL Lighting
Equipment Co., 15,000,000.00 15,000,000.00
Ltd.
Suzhou Mont
24,360,000.00 24,360,000.00
Lighting Co., Ltd.
441,949,939.76 441,949,939.76
Total
(2) Investment to joint ventures and associated enterprises
Unit: RMB Yuan
Increase/decrease in reporting period
Investme Closing
Adjustme
nt profit Withdraw balance
Additiona nt of Declarati
Name of Opening Negative and loss Other n Closing of
l other on of cash
investee balance investmen recognize equity impairme Other balance impairme
investmen comprehe dividends
t d under changes nt nt
t nsive or profits
the equity provision provision
income
method
Investment to subsidiary
Investment to associate enterprises
Qinghai
3,689,724 3,688,515
FSL -1,208.40
.39 .99
Lithium
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Energy
Exploitati
on Co.,
Ltd.
3,689,724 3,688,515
subtotal -1,208.40
.39 .99
3,689,724 3,688,515
Total -1,208.40
.39 .99
4. Revenues and operating costs
Unit: RMB Yuan
Reporting period Same period of last year
Item
Revenues Operating costs Revenues Operating costs
Main operations 1,459,454,200.77 1,136,562,737.09 1,490,151,685.68 1,147,781,613.27
Other operations 90,145,253.61 76,755,687.39 80,081,492.90 63,896,479.03
Total 1,549,599,454.38 1,213,318,424.48 1,570,233,178.58 1,211,678,092.30
5. Investment income
Unit: RMB Yuan
Item Reporting period Same period of last year
Long-term equity investment calculated by
4,888,044.88
cost method
Long-term equity investment calculated by
-1,208.40 -2,595,523.09
equity method
Investment income from the disposal of
-17,112.47
long-term equity investment
Investment income from financial assets
measured at fair value and changes recorded
870.00
into current profits and losses during holding
period
Investment income obtained through disposal of
financial assets measured at fair value and
640,080.26 -997,145.30
changes recorded into current profits and
losses
Investment income during the period of the
3,449,696.24 21,942,835.20
held of available for sale financial assets
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Investment income from the disposal of
17,063,266.56
available for sale financial assets
Other -443,538.84 -217,648.56
Total 20,709,165.82 23,003,450.66
XVIII. Supplementary materials
1. Items and amounts of extraordinary gains and losses
√ Applicable □ Inapplicable
Unit: RMB Yuan
Item Amount Note
Gains/losses on the disposal of non-current
-391,009.93
assets
Government grants recognized in the current
period, except for those acquired in the
ordinary course of business or granted at 2,519,246.86
certain quotas or amounts according to the
government’s unified standards
Gain/loss from change of fair value of
transactional assets and liabilities, and
investment gains from disposal of
transactional financial assets and liabilities 18,541,755.45
and available-for-sale financial assets, other
than valid hedging related to the Company’s
common businesses
Other non-operating income and expenses
-14,119,698.73 Withdrawal of estimated liabilities
other than the above
Other items in line with extraordinary gains
491,693.21
and losses definition
Less: Income tax effects -1,472,221.11
Minority interests effects 67,459.11
Total 8,446,748.86 --
Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in the Explanatory Announcement
No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Extraordinary Gains and Losses, or classifies any
extraordinary gain/loss item mentioned in the said explanatory announcement as a recurrent gain/loss item
□ Applicable √ Inapplicable
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2. Return on equity (ROE) and earnings per share (EPS)
EPS（Yuan/share）
Profit as of reporting period Weighted average ROE (%)
EPS-basic EPS-diluted
Net profit attributable to the
3.48% 0.0788 0.0788
Company’s common shareholders
Net profit attributable to the
Company’s common shareholders
3.19% 0.0722 0.0722
after deducting extraordinary gains
and losses
3. 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
□ Applicable √ Inapplicable
Unit: RMB Yuan
Net profits Net assets
Reporting period Same period of last year Closing balance Opening balance
According to Chinese
100,258,759.31 188,959,139.45 4,325,397,037.15 3,044,585,720.58
accounting standards
Items and amounts adjusted according to overseas accounting standards
According to overseas
100,258,759.31 188,959,139.45 4,325,397,037.15 3,044,585,720.58
accounting standards
(2) Differences of net profit and net assets disclosed in financial reports prepared under overseas and Chinese
accounting standards
□ Applicable √ Inapplicable
Unit: RMB Yuan
Net profits Net assets
Reporting period Same period of last year Closing balance Opening balance
According to Chinese
100,258,759.31 188,959,139.45 4,325,397,037.15 3,044,585,720.58
accounting standards
Items and amounts adjusted according to overseas accounting standards：
According to overseas
100,258,759.31 188,959,139.45 4,325,397,037.15 3,044,585,720.58
accounting standards
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
(3) Explain reasons for the differences between accounting data under domestic and overseas accounting standards,
for audit data adjusting differences had been foreign audited, should indicate the name of the foreign institutions
Inapplicable
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2015 Semi-annual Report of Foshan Electrical and Lighting Co., Ltd.
Section X. Documents Available for Reference
Investors and relevant departments can refer to the following materials in office of secretary to the Board in
office building of the Company:
1. Financial statements signed and sealed by legal representative, principal of accounting work, and manager
of finance department;
2. In the reporting period, all originals of the Company’s documents and public notices have been publicly
disclosed in China Securities Journal, Securities Times, and Ta Kung Pao;
3. Original Annual Report 2015 signed by Chairman of the Board.
Board of Directors
Foshan Electrical and Lighting Co., Ltd
26 August 2015
151
