The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
Foshan Electrical and Lighting Co., Ltd.
The Report for the First Quarter of 2016
April 2016
1
The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
Section I Important Statements
The Board of Directors, Supervisory Committee, directors, supervisors and senior management of
Foshan Electrical and Lighting Co., Ltd. (hereinafter referred to as the “Company”) hereby
guarantee that the information presented in this Report is factual, accurate and complete, and shall
be jointly and severally liable for any false information, misleading statements or material
omissions carried in this Report.
All directors attended the board meeting for the review of this Report.
He Yong, company principal, Liu Xingming, chief of the accounting work, and Tang Qionglan,
chief of the accounting organ (chief of accounting), hereby confirm that the financial report carried
in this Report is factual, accurate and complete.
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
Section II Financial Results and Changes in Shareholders
I Financial results
Whether the Company performed any retroactive adjustments to or restatement of its accounting data due to
changes of accounting policies or correction of accounting errors
□ Yes √ No
January-March 2016 January-March 2015 +/-%
Operating revenues (RMB) 904,310,757.83 767,330,509.62 17.85%
Net profit attributable to shareholders of
107,776,865.30 99,482,670.12 8.34%
the Company (RMB)
Net profit attributable to shareholders of
the Company after exceptional profit and 107,348,727.74 81,758,984.51 31.30%
loss (RMB)
Net operating cash flow (RMB) 186,104,091.50 67,138,040.36 177.20%
Basic earnings per share (RMB/share) 0.0847 0.0782 8.31%
Diluted earnings per share (RMB/share) 0.0847 0.0782 8.31%
Weighted average return on equity (%) 2.12% 3.22% -1.10%
31 March 2016 31 December 2015 +/-%
Total assets (RMB) 6,150,115,955.69 6,048,296,432.78 1.68%
Net assets attributable to shareholders of
5,100,644,216.45 5,023,546,888.12 1.53%
the Company (RMB)
Exceptional profit and loss
√ Applicable □ Not applicable
Unit: RMB
Item January-March 2016 Note
Profit/loss on disposal of non-current assets (including offset
-39,287.01
amount of asset impairment provisions)
Government grants charged to the profit/loss for the Reporting
Period (except for the government grants closely related to the
38,749.98
business of the Company and given at a fixed quota or amount in
accordance with the State’s uniform standards)
Profit/loss on fair value changes of transactional financial assets
and liabilities & investment profit on disposal of transactional
financial assets and liabilities as well as financial assets available -149,181.90
for sale, except for effectively hedging business related to normal
business operations of the Company
Non-operating income and expense other than the above -51,284.24
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
Other profit/loss that meet the definition of exceptional profit/loss 292,340.63
Less: Corporate income tax 194,331.88
Minority interests (after tax) -531,131.98
Total 428,137.56 --
Explanation of why the Company classified an item as exceptional profit/loss according to the definition in the
Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Exceptional Profit and Loss, or reclassified any exceptional profit/loss item given as an example in the
said explanatory announcement to recurrent profit/loss
□ Applicable √ Not applicable
No such cases in the Reporting Period.
II Total number of shareholders at the period-end and shareholdings of top ten shareholders
1. Numbers of common shareholders and preference shareholders with resumed voting rights as well as
shareholdings of top ten shareholders
Unit: share
Total number of preference
Total number of common shareholders with resumed
84,303 0
shareholders at the period-end voting rights at the period-end
(if any)
Shareholdings of top ten shareholders
Number of Pledged or frozen shares
Name of Nature of Shareholding Number of shares
restricted shares
shareholder shareholder percentage (%) held Status of shares Number of shares
held
Hong Kong Wah
Shing Holding Foreign
13.47% 171,360,391
Company corporation
Limited
Prosperity Lamps
Foreign
& Components 10.50% 133,577,143
corporation
Limited
Guangdong
Electronics
State-owned
Information 4.74% 60,357,728
corporation
Industry Group
Ltd.
Shenzhen Rising
Investment State-owned
3.11% 39,536,747
Development corporation
Co., Ltd.
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
Central Huijin
Asset State-owned
2.42% 30,799,000
Management Co., corporation
Ltd.
Hong Kong
Rising
Foreign
Investment 1.82% 23,165,684
corporation
Development
Co., Ltd.
DBS Vickers
Foreign
(Hong Kong) Ltd 1.81% 22,976,647
corporation
A/C Clients
Essence
International Foreign
1.76% 22,412,157
Securities (Hong corporation
Kong) Co., Ltd.
National Social Domestic
Security Fund non-state-owned 1.40% 17,846,063
Portfolio 103 corporation
New China Life
Insurance Co.,
Ltd.-Conventiona Domestic
l-Common non-state-owned 0.86% 10,918,992
Insurance corporation
Product-018L-CT
001-S
Shareholdings of top ten non-restricted shareholders
Variety of shares
Name of shareholder Number of non-restricted shares held
Variety Number
Hong Kong Wah Shing Holding RMB common
171,360,391 171,360,391
Company Limited shares
Prosperity Lamps & Components RMB common
133,577,143 133,577,143
Limited shares
Guangdong Electronics Information RMB common
60,357,728 60,357,728
Industry Group Ltd. shares
Shenzhen Rising Investment RMB common
39,536,747 39,536,747
Development Co., Ltd. shares
Central Huijin Asset Management RMB common
30,799,000 30,799,000
Co., Ltd. shares
Hong Kong Rising Investment 23,165,684 Domestically 23,165,684
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
Development Co., Ltd. listed foreign
shares
Domestically
DBS Vickers (Hong Kong) Ltd A/C
22,976,647 listed foreign 22,976,647
Clients
shares
Domestically
Essence International Securities
22,412,157 listed foreign 22,412,157
(Hong Kong) Co., Ltd.
shares
National Social Security Fund RMB common
17,846,063 17,846,063
Portfolio 103 shares
New China Life Insurance Co.,
RMB common
Ltd.-Conventional-Common 10,918,992 10,918,992
shares
Insurance Product-018L-CT001-S
Among the top ten shareholders of the Company, Hong Kong Wah Shing Holding Company
Limited, Guangdong Electronics Information Industry Group Ltd., Shenzhen Rising
Related or acting-in-concert parties Investment Development Co., Ltd. and Hong Kong Rising Investment Development Co., Ltd.
among the above shareholders are acting-in-concert parties. Apart from that, it is unknown whether there is among the top
ten shareholders any other related parties or acting-in-concert parties as defined in the
Administrative Measures for the Acquisition of Listed Companies.
Top ten common shareholders
conducting securities margin trading N/A
(if any)
Did any of the top ten common shareholders or the top ten non-restricted common shareholders of the Company
conduct any promissory repo during the Reporting Period?
□ Yea √ No
No such cases in the Reporting Period.
2. Total number of preference shareholders and shareholdings of the top ten of them
□ Applicable √ Not applicable
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
Section III Significant Events
I Changes in major accounting statement items and financial indicators for the Reporting
Period, as well as reasons for such changes
√ Applicable □ Not applicable
Unit: RMB
31 March 31 December 2015/
Statement item 2016/January-March January-March +/-% Explanation of change
2016 2015
Financial assets measured Securities and national bonds were
at fair value with fair value purchased in the current period.
changes included in the 79,988,990.00 51,600.00 154917.42%
profit and loss for the
Reporting Period
Proceeds in the form of trade
Accounts receivable 546,891,520.46 366,401,130.72 49.26%
acceptance decreased.
Accrued interest receivable from
Interest receivable 4,331,924.89 3,022,646.23 43.32%
banks increased.
Export rebates were received in the
Other accounts receivable 8,804,253.68 17,313,604.14 -49.15%
current period.
Construction projects in progress
Construction in progress 42,353,046.49 32,488,518.68 30.36%
increased.
Some transactions involving
accounts received in advance in the
Accounts received in
33,219,035.99 71,531,790.37 -53.56% same period of last year had been
advance
settled by the end of the current
period.
The corporate income tax payable
Taxes and fares payable 36,225,643.16 12,969,090.31 179.32%
increased.
Financial costs -3,553,912.01 -6,645,447.07 46.52% Exchange loss increased.
Bad debt of accounts receivable was
Asset impairment loss 11,137,926.24 3,865,036.47 188.17% provided for in the current period
increased .
Short-term stock investments were
Profit on fair value changes 0.00 388,061.46 -100.00%
no longer held in the current period.
The same period of last year saw
Investment profit -106,841.26 17,245,640.35 -100.62%
profit on the sale of some Everbright
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
Bank shares, while there was no such
profit in the current period.
The income from products sold and
Net operating cash flow 186,104,091.50 67,138,040.36 177.20% the export rebates increased while the
expenditure on goods decreased.
Securities, national bonds and bank
Net investment cash flow -124,290,416.89 -60,827,662.67 104.33% financial products were purchased in
the current period.
II Progress of significant events and analysis & explanations on their influence and solutions
√ Applicable □ Not applicable
In March 2013, CSRC Guangdong administered an administrative punishment on the illegal information
disclosure of the Company. During the period from September 2013 to October 2015, a total of 2,755 plaintiffs
separately sued the Company to the Guangzhou Intermediate People’s Court for false securities statements,
demanding civil compensations of RMB384.1114 million and HKD1.328 million in total from the Company for
its illegal information disclosure. From November 2014 to December 2015, the Guangzhou Intermediate People’s
Court made judgments for the aforesaid cases, ruling the Company to compensate the 2,755 plaintiffs with a total
of RMB182.7365 million and HKD7.3582 million and bear the legal fare of RMB3.2332 million. Currently,
except for the 31 plaintiffs who are appealing (involving an amount of RMB1.3682 million), the judgments for all
the other plaintiffs are final and effective. Up to 25 April 2016, the Company has made compensations of RMB
190.0466 nillion (legal fare inclusive) to 2713 plaintiffs (excluding 37 rejected plaintiffs). These cases of false
securities statements had an influence of RMB61.4383 million on the total profits of the Company in 2014 and
RMB131.8899 million on that in 2015. And it is expected that these cases will have no significant impact on the
2016 annual business results of the Company.
III Commitments of the Company, its shareholders, actual controller, acquirer, directors,
supervisors, senior management or other related parties fulfilled in the Reporting Period or
ongoing at the period-end
√ Applicable □ Not applicable
Date of
Commitment Type of Term of
Commitment Contents commitment Fulfillment
maker commitment commitment
making
Commitments made in Controlling About share Electronics Group and its In
2015-12-04 12 months
acquisition documents or shareholder lock-up acting-in-concert parties execution
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
shareholding alteration Shenzhen Rising Investment
documents and Hong Kong Rising
Investment have made a
commitment that within 12
months from the completion
of their acquisitions, they
shall not transfer or entrust
others to manage the shares
directly or indirectly held by
them in the Company, nor
shall they allow the
Company to repurchase
those shares, except for the
case where those shares may
be transferred for no
compensation due to any
business or asset integration
with their actual controller
or their actual controller’s
controlled subsidiaries.
Electronics Group and its
acting-in-concert parties
Shenzhen Rising Investment
and Hong Kong Rising
Investment have made a
commitment that the
business of Foshan
NationStar Optoelectronics
About Co., Ltd. that is in
Controlling avoidance of competition with the In
2015-12-04 24 months
shareholder horizontal business of the Company execution
competition takes up only a small part in
NationStar’s total business,
they shall gradually reduce
or eliminate the horizontal
competition as planned
through business integration
or other ways or
arrangements within the
coming 24 months.
Electronics Group and its
About
Controlling acting-in-concert parties Long-standi In
avoidance of 2015-12-04
shareholder Shenzhen Rising Investment ng execution
horizontal
and Hong Kong Rising
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
competition Investment have made more
commitments as follows to
avoid horizontal
competition with the
Company: 1. They shall
conduct supervision and
restraint on the production
and operation activities of
themselves and their
relevant enterprises so that
besides the enterprise above
that is in horizontal
competition with the
Company for now, if the
products or business of them
or their relevant enterprises
become the same with or
similar to those of the
Company or its subsidiaries
in the future, they shall take
the following measures: (1)
If the Company thinks
necessary, they and their
relevant enterprises shall
reduce and wholly transfer
their relevant assets and
business; and (2) If the
Company thinks necessary,
it is given the priority to
acquire first, by proper
means, the relevant assets
and business of them and
their relevant enterprises. 2.
All the commitments made
by them to eliminate or
avoid horizontal
competition with the
Company are also
applicable to their directly
or indirectly controlled
subsidiaries. They are
obliged to urge and make
sure that other subsidiaries
execute what’s prescribed in
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
the relevant document and
faithfully honor all the
relevant commitments. 3. If
they or their directly or
indirectly controlled
subsidiaries break the
aforesaid commitments and
thus cause a loss for the
Company, they shall
compensate the Company
on a rational basis.
Electronics Group and its
acting-in-concert parties
Shenzhen Rising Investment
and Hong Kong Rising
Investment have made a
commitment that during
their direct or indirect
holding of the Company’s
shares, they shall 1. strictly
abide by the regulatory
documents of the CSRC and
the SZSE, the Company’s
Articles of Association, etc.
and not harm the interests of
the Company or other
About reduction
shareholders of the
Controlling and regulation Long-standi In
Company in their 2015-12-04
shareholder of related-party ng execution
production and operation
transactions
activities by taking
advantage of their position
as the controlling
shareholder and actual
controller; 2. make sure that
they or their other controlled
subsidiaries, branch offices,
jointly-run or associated
companies (the “Relevant
Enterprises” for short) will
try their best to avoid or
reduce related-party
transactions with the
Company or the Company’s
subsidiaries; 3. strictly
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
follow the market principle
of justness, fairness and
equal value exchange for
necessary and unavoidable
related-party transactions
between them and their
Relevant Enterprises and the
Company, and withdraw
from voting when a
related-party transaction
with them or their Relevant
Enterprises is being voted
on at a general meeting or a
board meeting, and execute
the relevant approval
procedure and information
disclosure duties pursuant to
the applicable laws,
regulations and regulatory
documents. Where the
aforesaid commitments are
broken and a loss is thus
caused for the Company, its
subsidiaries or the
Company’s other
shareholders, they shall be
obliged to compensate.
In order to ensure the
independence of the
Company in business,
personnel, asset,
organization and finance,
Electronics Group and its
acting-in-concert parties
Shenzhen Rising Investment
Controlling About Long-standi In
and Hong Kong Rising 2015-12-04
shareholder independence ng execution
Investment have made the
following commitments: 1.
They will ensure the
independence of the
Company in business: (1)
They promise that the
Company will have the
assets, personnel,
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
qualifications and
capabilities for it to operate
independently as well as the
ability of independent,
sustainable operation in the
market. (2) They promise
not to intervene in the
Company’s business
activities other than the
execution of their rights as
the Company’s
shareholders. (3) They
promise that they and their
related parties will not be
engaged in business that is
substantially in competition
with the Company’s
business. And (4) They
promise that they and their
related parties will try their
best to reduce related-party
transactions between them
and the Company; for
necessary and unavoidable
related-party transactions,
they promise to operate
fairly following the
market-oriented principle
and at fair prices, and
execute the transaction
procedure and the duty of
information disclosure
pursuant to the applicable
laws, regulations and
regulatory documents. 2.
They will ensure the
independence of the
Company in personnel: (1)
They promise that the
Company’s GM, deputy
GMs, CFO, Company
Secretary and other senior
management personnel will
work only for and receive
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
remuneration from the
Company, not holding any
positions in them or their
other controlled subsidiaries
other than director and
supervisor. (2) They
promise the Company’s
absolute independence from
their related parties in labor,
human resource and salary
management. And (3) They
promise to follow the legal
procedure in their
recommendation of
directors, supervisors and
senior management
personnel to the Company
and not to hire or dismiss
employees beyond the
Company’s Board of
Directors and General
Meeting. 3. They will
ensure the independence
and completeness of the
Company in asset: (1) They
promise that the Company
will have a production
system, a auxiliary
production system and
supporting facilities for its
operation; legally have the
ownership or use rights of
the land, plants, machines,
trademarks, patents and
non-patented technology in
relation to its production
and operation; and have
independent systems for the
procurement of raw
materials and the sale of its
products. (2) They promise
that the Company will have
independent and complete
assets all under the
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
Company’s control and
independently owned and
operated by the Company.
And (3) They promise that
they and their other
controlled subsidiaries will
not illegally occupy the
Company’s funds and assets
in any way, or use the
Company’s assets to provide
guarantees for the debts of
themselves or their other
controlled subsidiaries with.
4. They will ensure the
independence of the
Company in organization:
(1) They promise that the
Company has a sound
corporate governance
structure as a joint-stock
company with an
independent and complete
organization structure. And
(2) They promise that the
operational and
management organs within
the Company will
independently execute their
functions according to laws,
regulations and the
Company’s Articles of
Association. And 5. They
will ensure the
independence of the
Company in finance: (1)
They promise that the
Company will have an
independent financial
department and financial
accounting system with
normative, independent
financial accounting rules.
(2) They promise that the
Company will have
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
independent bank accounts
and not share bank accounts
with its related parties. (3)
They promise that the
Company’s financial
personnel do not hold
concurrent positions in its
related parties. (4) They
promise that the Company
will independently pay its
tax according to law. And
(5) They promise that the
Company can make
financial decisions
independently and that they
will not illegally intervene
in the Company’s use of its
funds.
The profits distributed by
the Company in cash every
Other commitments made About cash year shall not be less than Long-standi In
The Company 2009-05-27
to minority shareholders dividends 30% of the distributable ng execution
profits it has achieved in the
year.
Executed on time Yes
Specific reasons for
failing to fulfill
N/A
commitments on time and
plans for next step
IV Operating result forecast for January-June 2016
Warning of possible loss or considerable YoY change of the accumulated net profit made during the
period-beginning to the end of the next reporting period according to prediction, as well as explanations on the
reasons:
□Applicable √ Not applicable
V Securities investments
√ Applicable □ Not applicable
Profit/loss
Opening Opening Closing Closing Closing
Initial
Variety of Code of Name of in the Accounti Source of
number sharehold number sharehold book
investmen of shares Reporting
securities securities securities ing of shares ing value ng title securities
Period
t cost held percentag held percentag (RMB) (RMB)
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
e e
(RMB)
Held-for-t
Pledge-ty
60,039,00 rading
Other 205007 7 Days 27,635.14 pe offer
0.00 financial
repo
asset
Held-for-t
Pledge-ty
140,001,0 60,087,00 rading
Other 205008 14 Days 78,169.47 pe offer
00.00 0.00 financial
repo
asset
Held-for-t
Pledge-ty
19,841,00 rading
Other 205010 28 Days 45,661.48 pe offer
0.00 financial
repo
asset
Held-for-t Reverse
19,800,19 rading repo of
Bond 204001 GC001 1,342.23
8.00 financial national
asset bond
Held-for-t Reverse
79,803,19 rading repo of
Bond 204004 GC004 26,965.79
2.00 financial national
asset bond
Held-for-t Reverse
238,911,9 112,566.5 rading repo of
Bond 204007 GC007
45.00 2 financial national
asset bond
Held-for-t Reverse
19,901,99 19,901,99 rading repo of
Bond 204014 GC014 0.00
0.00 0.00 financial national
asset bond
Purchase
Held-for-t
d from
rading
Stock 300456 Navior 7,005.00 500 0 0.00 5,018.10 the
financial
secondar
asset
y market
578,305,3 79,988,99 297,358.7
Total 500 -- 0 -- -- --
30.00 0.00 3
Disclosure date of the
announcement about the board’s
2014.01.23
consent for the securities
investment
Disclosure date of the
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
announcement about the general
meeting’s consent for the
securities investment (if any)
Note: The funds for the “pledge-type repos” and “reverse repos of national bonds” above 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 the “pledge-type repos” and “reverse repos of national bonds” above were their accumulative
amounts which were repeatedly invested within the first quarter of 2016.
VI Investments in derivative financial instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VII Visits paid to the Company in the Reporting Period for purposes of research,
communication, interview, etc.
√ Applicable □ Not applicable
Date of visit Way of visit Type of visitor Index to main inquiry information
Investor Relations-EasyIR-
2016.01.28 One-on-one meeting Institution
www.cninfo.com.cn
Investor Relations-EasyIR-
2016.03.29 One-on-one meeting Institution
www.cninfo.com.cn
VIII Illegal provision of guarantees for external parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Occupation of the Company’s funds by the controlling shareholder or its related parties
for non-operating purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
Section IV Financial Statements
I Financial statements
1. Consolidated balance sheet
Prepared by Foshan Electrical and Lighting Co., Ltd.
31 March 2016
Unit: RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 1,001,089,301.55 935,241,205.20
Settlement reserves
Lendings to banks and other financial
institutions
Financial assets measured at fair
value with fair value changes included
79,988,990.00 51,600.00
in the profit and loss for the Reporting
Period
Derivative financial assets
Notes receivable 145,075,721.25 202,669,316.48
Accounts receivable 546,891,520.46 366,401,130.72
Accounts paid in advance 7,103,575.40 6,858,950.41
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract
reserves
Interest receivable 4,331,924.89 3,022,646.23
Dividends receivable
Other accounts receivable 8,804,253.68 17,313,604.14
Financial assets purchased under
agreement to resell
Inventories 450,604,174.83 559,651,928.21
Assets held for sale
Non-current assets due within one
year
Other current assets 85,290,553.33 91,060,842.89
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
Total current assets 2,329,180,015.39 2,182,271,224.28
Non-current assets:
Loans and advances to customers
Available-for-sale financial assets 3,056,065,977.39 3,092,416,162.34
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investments 382,637.52 382,637.52
Investment property
Fixed assets 471,401,898.01 484,436,218.17
Construction in progress 42,353,046.49 32,488,518.68
Engineering materials
Disposal of fixed assets
Productive living assets
Oil-gas assets
Intangible assets 162,836,833.88 163,887,313.63
R&D expense
Goodwill
Long-term deferred expenses 355,622.18 406,425.35
Deferred income tax assets 40,705,125.39 42,744,728.66
Other non-current assets 46,834,799.44 49,263,204.15
Total non-current assets 3,820,935,940.30 3,866,025,208.50
Total assets 6,150,115,955.69 6,048,296,432.78
Current liabilities:
Short-term borrowings
Borrowings from the Central Bank
Money deposits accepted and
inter-bank deposits
Loans from banks and other financial
institutions
Financial liabilities measured at fair
value with fair value changes included
in the profit and loss for the Reporting
Period
Derivative financial liabilities
Notes payable
Accounts payable 469,393,951.32 396,263,382.12
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
Accounts received in advance 33,219,035.99 71,531,790.37
Financial assets sold for repurchase
Handling charges and commissions
payable
Payroll payable 51,737,524.57 72,004,987.32
Taxes and fares payable 36,225,643.16 12,969,090.31
Interest payable
Dividends payable
Other accounts payable 29,284,500.26 36,530,501.22
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 one
year
Other current liabilities
Total current liabilities 619,860,655.30 589,299,751.34
Non-current liabilities:
Long-term borrowings
Bonds payable
Of which: Preference shares
Perpetual bonds
Long-term accounts payable
Long-term payroll payable
Special payables
Estimated liabilities
Deferred income 10,683,525.04 10,722,275.02
Deferred income tax liabilities 385,112,470.38 390,534,187.37
Other non-current liabilities
Total non-current liabilities 395,795,995.42 401,256,462.39
Total liabilities 1,015,656,650.72 990,556,213.73
Owners’ equity:
Share capital 1,272,132,868.00 1,272,132,868.00
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
Other equity instruments
Of which: Preference shares
Perpetual bonds
Capital reserves 296,329,995.83 296,324,375.58
Less: Treasury stock
Other composite income 2,182,303,998.80 2,212,989,156.02
Special reserves
Surplus reserves 628,439,107.12 628,439,107.12
Provisions for general risks
Retained profit 721,438,246.70 613,661,381.40
Total equity attributable to owners of
5,100,644,216.45 5,023,546,888.12
the Company
Minority interests 33,815,088.52 34,193,330.93
Total owners’ equity 5,134,459,304.97 5,057,740,219.05
Total liabilities and owners’ equity 6,150,115,955.69 6,048,296,432.78
Legal representative: He Yong Chief of the accounting work: Liu Xingming
Chief of the accounting organ: Tang Qionglan
2. Balance sheet of the Company
Unit: RMB
Item Closing balance Opening balance
Current Assets:
Monetary funds 686,022,451.90 633,291,177.30
Financial assets measured at fair
value with fair value changes included
79,988,990.00 51,600.00
in the profit and loss for the Reporting
Period
Derivative financial assets
Notes receivable 136,822,990.59 200,483,728.48
Accounts receivable 575,802,511.89 387,870,578.18
Accounts paid in advance 33,620,982.97 6,258,960.70
Interest receivable 1,979,245.24 1,979,245.24
Dividends receivable
Other accounts receivable 44,699,101.97 47,175,016.15
Inventories 432,245,824.09 540,058,085.51
22
The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
Assets held for sale
Non-current assets due within one
year
Other current assets 80,683,749.21 87,132,242.99
Total current assets 2,071,865,847.86 1,904,300,634.55
Non-current assets:
Available-for-sale financial assets 3,056,065,977.39 3,092,416,162.34
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investments 417,972,577.28 417,972,577.28
Investment property
Fixed assets 392,502,932.58 403,470,166.52
Construction in progress 41,842,004.73 32,098,207.18
Engineering materials
Disposal of fixed assets
Productive living assets
Oil-gas assets
Intangible assets 119,391,726.63 120,554,776.71
R&D expense
Goodwill
Long-term deferred expenses
Deferred income tax assets 34,377,635.02 36,469,936.66
Other non-current assets 46,611,725.04 49,025,459.75
Total non-current assets 4,108,764,578.67 4,152,007,286.44
Total assets 6,180,630,426.53 6,056,307,920.99
Current liabilities:
Short-term borrowings
Financial liabilities measured at fair
value with fair value changes included
in the profit and loss for the Reporting
Period
Derivative financial liabilities
Notes payable
Accounts payable 595,780,099.35 518,615,548.53
Accounts received in advance 32,600,780.97 70,168,946.84
23
The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
Payroll payable 28,815,274.04 48,921,086.93
Taxes and fares payable 27,388,738.32 2,172,775.43
Interest payable
Dividends payable
Other accounts payable 109,167,674.40 93,375,598.50
Liabilities held for sale
Non-current liabilities due within one
year
Other current liabilities
Total current liabilities 793,752,567.08 733,253,956.23
Non-current liabilities:
Long-term borrowings
Bonds payable
Of which: Preference shares
Perpetual bonds
Long-term payables
Long-term payroll payables
Special payables
Estimated liabilities
Deferred income 10,102,274.95 10,102,274.95
Deferred income tax liabilities 385,112,470.38 390,534,187.37
Other non-current liabilities
Total non-current liabilities 395,214,745.33 400,636,462.32
Total liabilities 1,188,967,312.41 1,133,890,418.55
Owners’ equity:
Share capital 1,272,132,868.00 1,272,132,868.00
Other equity instruments
Of which: Preference shares
Perpetual bonds
Capital reserves 293,425,065.15 293,419,444.90
Less: Treasury stock
Other composite income 2,182,303,998.80 2,212,989,156.02
Special reserves
Surplus reserves 628,439,107.12 628,439,107.12
Retained profit 615,362,075.05 515,436,926.40
24
The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
Total owners’ equity 4,991,663,114.12 4,922,417,502.44
Total liabilities and owners’ equity 6,180,630,426.53 6,056,307,920.99
Legal representative: He Yong Chief of the accounting work: Liu Xingming
Chief of the accounting organ: Tang Qionglan
3. Consolidated income statement
Unit: RMB
Item January-March 2016 January-March 2015
1. Operating revenues 904,310,757.83 767,330,509.62
Including: Sales income 904,310,757.83 767,330,509.62
Interest income
Premium income
Handling charge and commission
income
2. Total operating costs 776,257,794.04 665,290,270.04
Including: Cost of sales 681,520,513.44 585,139,283.86
Interest expenses
Handling charge and commission
expenses
Surrenders
Net claims paid
Net amount provided as insurance
contract reserves
Expenditure on policy dividends
Reinsurance premium
Business tax and surtaxes 4,841,999.66 4,427,534.18
Selling expenses 27,744,850.71 21,558,608.80
Administrative expenses 54,566,416.00 56,945,253.80
Financial costs -3,553,912.01 -6,645,447.07
Asset impairment loss 11,137,926.24 3,865,036.47
Add: Profit/loss on fair value changes
388,061.46
(“-” means loss)
Profit/loss on investment (“-” means
-106,841.26 17,245,640.35
loss)
Including: Share of profit in
-1,174.20
associates and joint ventures
25
The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
Foreign exchange profit (“-” means
loss)
3. Operating profit (“-” means loss) 127,946,122.53 119,673,941.39
Add: Non-operating income 1,187,884.46 836,148.80
Including: Profit on disposal of
10,852.26
non-current assets
Less: Non-operating expense 1,239,705.73 375,700.60
Including: Loss on disposal of
50,139.27 301,166.86
non-current assets
4. Total profit (“-” means loss) 127,894,301.26 120,134,389.59
Less: Corporate income tax 20,495,678.37 22,163,592.09
5. Net profit (“-” means loss) 107,398,622.89 97,970,797.50
Net profit attributable to owners of
107,776,865.30 99,482,670.12
the Company
Minority shareholders’ income -378,242.41 -1,511,872.62
6. After-tax net amount of other
-30,685,157.22 -17,685,399.88
composite income
After-tax net amount of other
composite income attributable to owners -30,685,157.22 -17,685,399.88
of the Company
6.1 Other composite income that
will not be reclassified into profit and
loss
6.1.1 Changes in net liabilities
or assets with a defined benefit plan upon
re-measurement
6.1.2 Enjoyable share in other
comprehensive income in investees that
cannot be reclassified into profit and loss
under the equity method
6.2 Other composite income that
-30,685,157.22 -17,685,399.88
will be reclassified into profit and loss
6.2.1 Enjoyable share in other
composite income in investees that will
be reclassified into profit and loss under
the equity method
6.2.2 Profit and loss on fair
value changes of available-for-sale -30,685,157.22 -17,685,399.88
financial assets
6.2.3 Profit and loss on
reclassifying held-to-maturity
investments into available-for-sale
26
The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
financial assets
6.2.4 Effective hedging profit
and loss on cash flow
6.2.5 Foreign-currency
financial statement translation difference
6.2.6 Other
After-tax net amount of other
composite income attributable to
minority shareholders
7. Total composite income 76,713,465.67 80,285,397.62
Attributable to owners of the
77,091,708.08 81,797,270.24
Company
Attributable to minority
-378,242.41 -1,511,872.62
shareholders
8. Earnings per share
8.1 Basic earnings per share 0.0847 0.0782
8.2 Diluted earnings per share 0.0847 0.0782
Where business mergers under the same control occurred in the Reporting Period, net profit achieved by the merged parties before
the business mergers was RMB0.00, with the corresponding amount for the same period of last year being RMB0.00.
Legal representative: He Yong Chief of the accounting work: Liu Xingming
Chief of the accounting organ: Tang Qionglan
4. Income statement of the Company
Unit: RMB
Item January-March 2016 January-March 2015
1. Operating revenues 916,228,477.71 781,216,056.78
Less: Operating costs 715,477,230.48 618,210,511.06
Business tax and surtaxes 2,844,766.16 2,651,393.36
Selling expenses 27,528,676.46 20,415,785.93
Administrative expenses 44,685,990.61 43,456,848.62
Financial costs -2,174,344.12 -4,590,131.54
Asset impairment loss 11,178,161.37 3,471,115.71
Add: profit/loss on fair value changes
388,061.46
(“-” means loss)
Profit/loss on investment (“-”
-106,841.26 17,245,640.35
means loss)
Including: Income form -1,174.20
27
The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
investment on associates and joint
ventures
2. Operating profit (“-” means loss) 116,581,155.49 115,234,235.45
Add: Non-operating income 1,041,340.99 271,129.44
Including: Profit on disposal of
non-current assets
Less: Non-operating expense 71,261.90 318,034.89
Including: Loss on disposal of
32,003.23 243,564.96
non-current assets
3. Total profit (“-” means loss) 117,551,234.58 115,187,330.00
Less: Corporate income tax 17,626,085.93 19,060,820.76
4. Net profit (“-” means loss) 99,925,148.65 96,126,509.24
5. After-tax net amount of other
-30,685,157.22 -17,685,399.88
composite income
5.1 Other composite income that will
not be reclassified into profit and loss
5.1.1 Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
5.1.2 Enjoyable share in other
composite income in investees that
cannot be reclassified into profit and
loss under the equity method
5.2 Other composite income that will
-30,685,157.22 -17,685,399.88
be reclassified into profit and loss
5.2.1 Enjoyable share in other
composite income in investees that will
be reclassified into profit and loss under
the equity method
5.2.2 Profit and loss on fair value
changes of available-for-sale financial -30,685,157.22 -17,685,399.88
assets
5.2.3 Profit and loss on
reclassifying held-to-maturity
investments into available-for-sale
financial assets
5.2.4 Effective hedging profit and
loss on cash flow
5.2.5 Foreign-currency financial
statement translation difference
5.2.6 Other
28
The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
6. Total composite income 69,239,991.43 78,441,109.36
7. Earnings per share
7.1 Basic earnings per share
7.2 Diluted earnings per share
Legal representative: He Yong Chief of the accounting work: Liu Xingming
Chief of the accounting organ: Tang Qionglan
5. Consolidated cash flow statement
Unit: RMB
Item January-March 2016 January-March 2015
1. Operating cash flow:
Cash received from sale of
751,648,546.04 657,694,684.23
commodities and rendering of service
Net increase in money deposits from
customers and inter-bank placements
Net increase in loans from the
Central Bank
Net increase in funds borrowed from
other financial institutions
Cash received from premium of
original insurance contracts
Net cash received from reinsurance
business
Net increase in deposits of policy
holders and investment fund
Net increase in disposal of financial
assets measured at fair value with fair
value changes included in the profit
and loss for the Reporting Period
Cash received from interest,
handling charges and commissions
Net increase in loans from banks and
other financial institutions
Net increase in funds in repurchase
business
Tax refunds received 34,432,771.16 9,580,359.33
Other operating cash received 10,956,963.96 5,008,282.49
Subtotal of operating cash inflow 797,038,281.16 672,283,326.05
Cash paid for goods and services 388,307,756.52 380,621,884.13
Net increase in loans and advances
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
to customers
Net increase in funds deposited in
the Central Bank and inter-bank
placements
Cash for paying claims of original
insurance contracts
Cash for paying interest, handling
charges and commissions
Cash for paying policy dividends
Cash paid to and for employees 142,895,599.81 149,796,285.77
Taxes and fares paid 34,192,711.05 36,563,670.69
Other cash payment relating to
45,538,122.28 38,163,445.10
operating activities
Subtotal of operating cash outflow 610,934,189.66 605,145,285.69
Net operating cash flow 186,104,091.50 67,138,040.36
2. Investment cash flow:
Cash received from retraction of
7,005.00
investments
Cash received from return on
341,953.73 17,496,814.66
investments
Net cash received from disposal of
fixed assets, intangible assets and other 54,000.00
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investment activities
Subtotal of investment cash inflow 402,958.73 17,496,814.66
Cash paid to acquire fixed assets,
intangible assets and other long-term 14,704,385.62 16,192,196.41
assets
Cash paid for investment 109,988,990.00 62,132,280.92
Net increase in pledged loans
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
investment activities
Subtotal of investment cash outflow 124,693,375.62 78,324,477.33
Net investment cash flow -124,290,416.89 -60,827,662.67
3. Financing cash flow:
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
Cash received from capital
contributions
Including: Cash received from
minority shareholder investments by
subsidiaries
Cash received as borrowings
Cash received from issuance of
bonds
Other financing cash received
Subtotal of financing cash inflow
Repayment of borrowings
Cash paid for interest expenses and
distribution of dividends or profit
Including: dividends or profit paid
by subsidiaries to minority
shareholders
Other cash payments relating to
financing activities
Sub-total of financing cash outflow
Net financing cash flow
4. Effect of foreign exchange rate
2,339,324.91 64,324.76
changes on cash and cash equivalents
5. Net increase in cash and cash
64,152,999.52 6,374,702.45
equivalents
Add: Opening balance of cash and
935,241,205.20 989,718,395.60
cash equivalents
6. Closing balance of cash and cash
999,394,204.72 996,093,098.05
equivalents
Legal representative: He Yong Chief of the accounting work: Liu Xingming
Chief of the accounting organ: Tang Qionglan
6. Cash flow statement of the Company
Unit: RMB
Item January-March 2016 January-March 2015
1. Operating cash flow:
Cash received from sale of
746,819,116.75 627,489,040.22
commodities and rendering of service
Tax refunds received 34,432,771.16 9,571,389.54
Other operating cash received 8,309,282.13 4,119,297.51
Subtotal of operating cash inflow 789,561,170.04 641,179,727.27
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The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
Cash paid for goods and services 492,802,614.83 463,516,899.97
Cash paid to and for employees 70,076,334.33 72,668,015.91
Taxes and fares paid 9,335,332.53 12,368,608.54
Other operating cash payments 43,078,475.07 33,474,157.44
Subtotal of operating cash outflow 615,292,756.76 582,027,681.86
Net operating cash flow 174,268,413.28 59,152,045.41
2. Investment cash flow:
Cash received from retraction of
7,005.00
investments
Cash received from return on
341,953.73 17,496,814.66
investments
Net cash received from disposal of
fixed assets, intangible assets and other
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investment activities
Subtotal of investment cash inflow 348,958.73 17,496,814.66
Cash paid to acquire fixed assets,
intangible assets and other long-term 14,236,431.87 14,479,638.28
assets
Cash paid for investment 109,988,990.00 62,132,280.92
Net cash paid to acquire subsidiaries
and other business units
Other investment cash payments
Subtotal of investment cash outflow 124,225,421.87 76,611,919.20
Net investment cash flow -123,876,463.14 -59,115,104.54
3. Financing cash flow:
Cash received from capital
contributions
Cash received as borrowings
Cash received from issuance of
bonds
Other financing cash received
Subtotal of financing cash inflow
Repayment of borrowings
Cash paid for interest expenses and
distribution of dividends or profit
32
The Report for the First Quarter of 2016—Foshan Electrical and Lighting Co., Ltd.
Other cash payments relating to
financing activities
Sub-total of financing cash outflow
Net financing cash flow
4. Effect of foreign exchange rate
2,339,324.46 52,276.21
changes on cash and cash equivalents
5. Net increase in cash and cash
52,731,274.60 89,217.08
equivalents
Add: Opening balance of cash and
633,291,177.30 685,652,777.19
cash equivalents
6. Closing balance of cash and cash
686,022,451.90 685,741,994.27
equivalents
Legal representative: He Yong Chief of the accounting work: Liu Xingming
Chief of the accounting organ: Tang Qionglan
II Auditor’s report
Is this Report audited?
□ Yes √ No
This Report is not audited.
The Board of Directors
Foshan Electrical and Lighting Co., Ltd.
26 April 2016
33