Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
FOSHAN ELECTRICAL AND LIGHTING CO., LTD.
THIRD QUARTERLY REPORT 2020
October 2020
1
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Part I Important Notes
The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,
supervisors and senior management of Foshan Electrical and Lighting Co., Ltd. (hereinafter
referred to as the “Company”) hereby guarantee that the contents of this Report and its
summary are true, accurate and complete and free of any misrepresentations, misleading
statements or material omissions, and collectively and individually accept legal responsibility
for such contents.
All the Company’s directors have attended the Board meeting for the review of this Report
and its summary.
Wu Shenghui, the Company’s legal representative, Tang Qionglan, the Company’s Chief
Financial Officer (CFO), and Peng Fentao, the Company’s accounting manager hereby
guarantee that the financial statements carried in this Report are truthful, accurate and
complete.
This Report have been prepared in both Chinese and English. Should there be any
discrepancies or misunderstandings between the two versions, the Chinese versions shall
prevail.
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Part II Key Corporate Information
I Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
30 September 2020 31 December 2019 Change (%)
Total assets (RMB) 6,946,316,039.12 6,175,200,008.24 12.49%
Equity attributable to the listed
5,200,067,057.45 4,880,736,800.07 6.54%
company’s shareholders (RMB)
Q3 2020 YoY change (%) Q1-Q3 2020 YoY change (%)
Operating revenue (RMB) 1,036,642,740.19 37.25% 2,559,526,867.23 4.79%
Net profit attributable to the listed
81,713,561.32 28.80% 232,775,009.15 0.89%
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before
71,099,990.80 9.83% 221,534,826.80 1.04%
exceptional gains and losses
(RMB)
Net cash generated from/used in
151,006,248.62 3.95% 352,083,952.07 4.80%
operating activities (RMB)
Basic earnings per share
0.0584 28.92% 0.1663 0.85%
(RMB/share)
Diluted earnings per share
0.0584 28.92% 0.1663 0.85%
(RMB/share)
Weighted average return on equity
1.68% 0.16% 4.62% -0.67%
(%)
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB
Item Q1-Q3 2020 Note
Gain or loss on disposal of non-current assets (inclusive of
-717,150.35
impairment allowance write-offs)
Government grants through profit or loss (exclusive of
government grants given in the Company’s ordinary course of 5,562,044.00
business at fixed quotas or amounts as per the government’s
3
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
uniform standards)
Gain or loss on fair-value changes on held-for-trading and
derivative financial assets and liabilities & income from disposal
of held-for-trading and derivative financial assets and liabilities 445,000.00
and other debt investments (exclusive of the effective portion of
hedges that arise in the Company’s ordinary course of business)
Reverse of bad debt provision of accounts receivable and contract
7,359,798.26
assets individually conducting impairment test
Non-operating income and expense other than the above 492,736.29
Less: Income tax effects 1,864,914.82
Non-controlling interests effects (net of tax) 37,331.03
Total 11,240,182.35 --
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the
Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Exceptional Gain/Loss Items:
□ Applicable √ Not applicable
No such cases for the Reporting Period.
II Total Number of Shareholders and Holdings of Top 10 of Them as at the End of the
Reporting Period
1. Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
Number of preference
Number of ordinary shareholders 75,474 shareholders with resumed 0
voting rights (if any)
Top 10 shareholders
Name of Nature of Shareholding Restricted shares Shares in pledge or frozen
Total shares held
shareholder shareholder percentage held Status Shares
Hong Kong Wah
Foreign
Shing Holding 13.47% 188,496,430 In pledge 92,363,251
corporation
Company Limited
Prosperity Lamps
Foreign
& Components 10.50% 146,934,857
corporation
Limited
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Guangdong
Electronics
State-owned
Information 8.77% 122,694,246 In pledge 32,532,815
corporation
Industry Group
Ltd.
Shenzhen Rising
Investment State-owned
5.12% 71,696,136 In pledge 35,800,000
Development Co., corporation
Ltd.
Central Huijin
Asset State-owned
2.42% 33,878,900
Management Co., corporation
Ltd.
Essence
International Foreign
2.22% 31,059,913
Securities (Hong corporation
Kong) Limited
Rising Investment
Foreign
Development 1.82% 25,482,252
corporation
Limited
DBS
VICKERS(HONG Foreign
1.34% 18,787,655
KONG) LTD A/C corporation
CLIENTS
China Merchants
Foreign
Securities (HK) 0.90% 12,551,460
corporation
Co., Limited
Zhuang Jianyi Foreign individual 0.85% 11,903,509 8,927,632
Top 10 unrestricted shareholders
Shares by class
Name of shareholder Unrestricted ordinary shares held
Class Shares
Hong Kong Wah Shing Holding RMB-denominate
188,496,430 188,496,430
Company Limited d ordinary share
Prosperity Lamps & Components RMB-denominate
146,934,857 146,934,857
Limited d ordinary share
Guangdong Electronics Information RMB-denominate
122,694,246 122,694,246
Industry Group Ltd. d ordinary share
Shenzhen Rising Investment RMB-denominate
71,696,136 71,696,136
Development Co., Ltd. d ordinary share
Central Huijin Asset Management 33,878,900 RMB-denominate 33,878,900
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Co., Ltd. d ordinary share
Domestically
Essence International Securities
31,059,913 listed foreign 31,059,913
(Hong Kong) Limited
share
Domestically
Rising Investment Development
25,482,252 listed foreign 25,482,252
Limited
share
Domestically
DBS VICKERS(HONG KONG) LTD
18,787,655 listed foreign 18,787,655
A/C CLIENTS
share
Domestically
China Merchants Securities (HK) Co.,
12,551,460 listed foreign 12,551,460
Limited
share
Guangdong Rising Finance Holding RMB-denominate
11,434,762 11,434,762
Co., Ltd. d ordinary share
Among the top 10 shareholders and Top 10 unrestricted shareholders, Hong Kong Wah
Shing Holding Company Limited, Shenzhen Rising Investment Development Co., Ltd.,
Guangdong Electronics Information Industry Group Ltd., Guangdong Rising Finance
Related or acting-in-concert parties Holding Co., Ltd. and Rising Investment Development Limited are acting-in-concert
among the shareholders above parties; Prosperity Lamps & Components Limited and Zhuang Jianyi are acting-in-concert
parties. Apart from that, it is unknown whether there is among the top 10 shareholders any
other related parties or acting-in-concert parties as defined in the Administrative Measures
for the Acquisition of Listed Companies.
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary
shareholders of the Company conducted any promissory repo during the Reporting Period.
□ Yes √ No
No such cases in the Reporting Period.
2. Number of Preference Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Part III Significant Events
I Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
Unit: RMB
30 September 2020 31 December 2019 (or
Item Change (%) Explanation of why
(or Q1~Q3 2020) Q1~Q3 2019)
Accounts receivable 943,423,998.71 712,175,266.51 32.47% Increase in receivables from customers
with an increase in revenue in Q3
Prepayments 14,464,209.52 7,851,390.78 84.22% Increase in equipment purchases
Other receivables 33,999,418.26 22,307,344.76 52.41% Increase in export tax rebates not yet
received in the current period
Construction in progress 61,426,124.76 119,030,610.16 -48.39% Transfer of part of the Gaoming factory to
fixed assets upon completion of
construction in the current period
Long-term prepaid expense 12,441,270.03 7,727,394.74 61.00% Great amount of engineering and
decoration expenses in the current period
Notes payable 506,326,979.83 374,665,327.74 35.14% Increase in undue notes payable resulted
from more purchases with an increase in
revenue in Q3
Accounts payable 801,322,627.18 559,016,692.70 43.35% Increase in payables to suppliers resulted
from more purchases with an increase in
revenue in Q3
Advances from customers 50,449,357.17 -100.00% Transfer of certain advances from
customers to contract liabilities due to the
adoption of the new accounting standard
governing revenue in the Reporting Period
Contract liabilities 56,790,214.34 N/A Transfer of certain advances from
customers to contract liabilities due to the
adoption of the new accounting standard
governing revenue in the Reporting Period
Employee benefits payable 53,298,130.78 83,156,852.86 -35.91% Payment of year-end bonuses of last year
to employees in the current period
Taxes and levies payable 33,492,447.39 17,211,068.21 94.60% Increase in payable value added tax in the
current period
Deferred income tax 197,939,198.29 137,216,136.70 44.25% Increase in the value of assets recorded in
liabilities investments in other equity instruments in
the current period
Other comprehensive 1,121,694,634.91 776,260,348.19 44.50% Increase in the value of assets recorded in
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
income investments in other equity instruments in
the current period
Non-controlling interests 39,138,093.92 26,674,428.08 46.73% New non-wholly-owned subsidiary
Foshan HortiLite Optoelectronics Co.,
Ltd. in the current period
R&D expense 97,286,326.04 51,257,471.53 89.80% Increase in the salaries of R&D personnel
and in other R&D expenditures in the
current period
Fiannce costs -14,876,636.11 -24,607,329.18 39.54% Appreciation of RMB as a result of
exchange rate fluctuations in Q3
Interest income 28,257,014.56 16,370,875.76 72.61% Increase in interest on bank deposits in the
current period
Other income 10,870,023.46 6,665,710.25 63.07% Increase in government grants received in
the ordinary course of business in the
current period
Return on investment 37,773,909.66 55,118,448.97 -31.47% The same period of last year saw an
income from the disposal of the
Company’s interest in Chengdu Hongbo
Industrial Co., Ltd.
Share of profit or loss of 3,696,391.14 875,062.13 322.41% Increase in share of net profit of associate
joint ventures and in the current period
associates
Gain on changes in fair 445,000.00 -2,148,400.00 120.71% Appreciation of RMB as a result of
value exchange rate fluctuations in Q3
Credit impairment loss -4,002,685.70 1,749,099.60 -328.84% Decrease in allowances for doubtful
accounts in the current period
Asset impairment loss -3,200,793.69 -12,157,202.51 73.67% Decrease in inventory valuation
allowances in the current period
Asset disposal income N/A Disposal of non-current assets in the
7,489.02 current period
Non-operating income 936,299.73 2,672,321.16 -64.96% Decrease in government grants unrelated
to operating activities received in the
current period
Non-operating expense 1,110,482.81 2,680,673.95 -58.57% Decrease in non-operating expense in the
current period
Net profit attributable to 4,056,265.84 1,934,783.31 109.65% Increase in profit of non-wholly-owned
non-controlling interests subsidiary in the current period
Other comprehensive 345,434,286.72 40,471,826.38 753.52% Increase in the value of assets recorded in
income, net of tax investments in other equity instruments in
the current period
Changes in the fair value of 345,412,469.12 40,488,833.87 753.11% Increase in the value of assets recorded in
investments in other equity investments in other equity instruments in
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
instruments the current period
Differences arising from the -17,007.49 228.28% Appreciation of RMB as a result of
translation of foreign 21,817.60 exchange rate fluctuations in Q3
currency-denominated
financial statements
Total comprehensive 582,265,561.71 273,122,596.04 113.19% Increase in the value of assets recorded in
income investments in other equity instruments in
the current period
Net cash generated -138,897,311.09 47,955,813.35 -389.64% Increase in payments for investments in
from/used in investing the current period
activities
Effect of foreign exchange -1,874,714.70 531,705.94 -452.58% Appreciation of RMB as a result of
rates changes on cash and exchange rate fluctuations in Q3
cash equivalents
Net increase in cash and -47,567,112.21 168,486,740.97 -128.23% Decrease in net cash generated from
cash equivalents investing activities in the current period
II Progress, Influence and Solutions in respect of Significant Events
√ Applicable □ Not applicable
On 1 June 2020, the Company held the 40th Meeting of the 8th Board of Directors, on which the Proposal on
Reducing Some Stocks of Guoxuan High-tech was reviewed and approved and the Board agreed to reduce some
stocks of Guoxuan High-tech adopting centralized bidding trading method or block trading method in accordance
with laws and regulations and at an appropriate time within 90 days since the date that the proposal was approved.
The amount of stocks reduced shall not exceed 33,880,580 shares, accounting for 3% of current total shares of
Guoxuan High-tech. and the price for reduction shall be determined by the market price when the reduction is
carried out. The term for this shareholding reduction plan has expired and the Company did not carry out any such
reduction.
Summary of the significant event Date of disclosure Index to disclosure
Reducing some shareholdings in Guoxuan
2 June 2020 www.cninfo.com.cn
High-tech
Progress of any share repurchase:
□ Applicable √ Not applicable
Progress of any reduction of the repurchased shares through centralized bidding:
□ Applicable √ Not applicable
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties,
Acquirers, the Company Itself or Other Relevant Parties, Failed to Fulfill on Time during the
Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV Financial Investments
1. Securities Investments
√ Applicable □ Not applicable
Unit: RMB
Gain/los
Cumulat
s on
Account ive
fair-valu Purchas Sold in Gain/los
Type of Code of Name of Initial ing Opening fair-valu Closing
e ed in the the s in the Account Funding
securitie securitie securitie investm measure carrying e carrying
changes current current current ing title source
s s s ent cost ment amount changes amount
in the period period period
method through
current
equity
period
Investm
Domesti
Guoxua ent in
cally/Ov Fair 1,081,8
n 160,000 661,377 420,463 861,605 other Self-fun
erseas 002074 value 40,305.
High-tec ,000.00 ,161.25 ,143.75 ,165.36 equity ded
listed method 00
h instrum
stock
ents
Investm
Domesti
ent in
cally/Ov China Fair
30,828, 81,791, -14,095, 44,045, 3,969,0 67,695, other Self-fun
erseas 601818 Everbrig value
816.00 185.14 533.04 904.28 05.36 652.10 equity ded
listed ht Bank method
instrum
stock
ents
Investm
Domesti
ent in
cally/Ov Fair
Xiamen 292,574 706,517 413,943 10,971, 706,517 other Self-fun
erseas 601187 value
Bank ,133.00 ,718.67 ,585.67 417.60 ,718.67 equity ded
listed method
instrum
stock
ents
10
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Foshan
branch Investm
Domesti
of ent in
cally/Ov Fair
Guangd 500,000 500,000 500,000 other Self-fun
erseas N/A value
ong .00 .00 .00 equity ded
listed method
Develop instrum
stock
ment ents
Bank
1,450,1 1,319,5 1,856,5
483,902 406,367 14,940,
Total -- 86,065. 94,655. 0.00 0.00 53,675. -- --
,949.00 ,610.71 422.96
06 31 77
Disclosure date of the
announcement on the
Board’s approval of
securities investments
Disclosure date of the
announcement on the
general meeting’s approval
of securities investments (if
any)
2. Investments in Derivative Financial Instruments
√ Applicable □ Not applicable
Unit: US$’0,000
Ending
investm
Actual
Relation Related- Purchas Impairm ent as %
Initial Beginni Sold in gain/los
ship party Type of ed in ent Ending of the
Counter investm Start End ng Reporti s in
with the transacti derivativ Reporti allowan investm Compan
party ent date date investm ng Reporti
Compan on or e ng ce (if ent y’s
amount ent Period ng
y not Period any) ending
Period
net
assets
Ordinary
Bank of
forward 4 7
China Not
Not forex 800 Novemb January 400 400 6.14
(Foshan related
settleme er 2019 2020
branch)
nt
Agricult Ordinary 4
Not 15 April
ural Not forward 1,200 Decemb 1,200 1,200 4.43
related 2020
Bank of forex er 2019
11
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
China settleme
(Foshan nt
branch)
Guangz
hou
Ordinary
Rural
forward 17 27
Comme Not
Not forex 100 March March 100 100 0.23
rcial related
settleme 2020 2020
Bank
nt
(Foshan
branch)
Guangz
hou
Ordinary
Rural
forward
Comme Not 28 April 28 July
Not forex 450 450 450 1.50
rcial related 2020 2020
settleme
Bank
nt
(Foshan
branch)
Agricult
Ordinary
ural
forward 25 29
Bank of Not
Not forex 600 August March 600 600 0.78%
China related
settleme 2020 2021
(Foshan
nt
branch)
Industri
al and
Ordinary
Comme 15
forward 23
rcial Not Septem
Not forex 300 Decemb 300 300 0.39%
Bank of related ber
settleme er 2020
China 2020
nt l
(Foshan
branch)
Industri
al and
Ordinary
Comme 18
forward 23
rcial Not Septem
Not forex 400 Novemb 400 400 0.52%
Bank of related ber
settleme er 2020
China 2020
nt
(Foshan
branch)
Industri Not Not Ordinary 200 22 24 200 200 0.26%
12
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
al and related forward Septem Novemb
Comme forex ber er 2020
rcial settleme 2020
Bank of nt l
China
(Foshan
branch)
Agricult
Ordinary
ural 24
forward 30
Bank of Not Septem
Not forex 600 Decemb 600 600 0.78%
China related ber
settleme er 2020
(Foshan 2020
nt
branch)
Industri
al and
Ordinary
Comme 30
forward 23
rcial Not Septem
Not forex 300 Februar 300 300 0.39%
Bank of related ber
settleme y 2021
China 2020
nt
(Foshan
branch)
Total 4,950 -- -- 1,600 2,950 2,150 2,400 3.12% 12.30
Funding source All self-funded
Legal matters involved (if
N/A
applicable)
Disclosure date of the announcement
on the Board’s approval of
10 April 2020
investments in derivative financial
instruments (if any)
Disclosure date of the announcement
on the general meeting’s approval of
7 May 2020
investments in derivative financial
instruments (if any)
Risk Analysis of Forward Exchange Settlement Business: 1. Risk of exchange rate
fluctuations. In the case of large fluctuations in the exchange rate, the quoted price of the
Risk analysis and control measures in
bank’s forward exchange rate may be lower than the Company’s quoted exchange rate to the
respect of derivative investments
customer, which will make the Company unable to lock the quoted exchange rate to the
held in the Reporting Period
customer or the bank’s forward exchange rate may deviate from the exchange rate at the time
(including but not limited to market
of the Company’s actual receipt and payment, and causes exchange losses. 2. Risk of
risk, liquidity risk, credit risk,
customer default. The customer’s accounts receivable may be overdue, and the payment for
operational risk, legal risk, etc.)
goods cannot be recovered within the predictable payback period, which will result in the
loss of the Company due to the delayed forward settlement. 3. Risk of payback prediction.
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
The marketing department shall made corresponding payback prediction based on customer
orders and expected orders. However, during the actual implementation process, customers
may adjust their orders and predictions, which will result in the Company’s incorrect
payback prediction and cause the risk of delayed delivery of forward exchange settlement.
Adopted Risk Control Measures: 1. The Company will strengthen the research and analysis
of the exchange rate. When the exchange rate fluctuates greatly, it will adjust the business
strategy in a timely manner to stabilize the export business and avoid exchange losses to the
utmost. 2. The Management System for Forward Settlement and Sales of Foreign Exchanges
reviewed and approved by the board of directors of the Company stipulates that all forward
foreign exchange settlement businesses of the Company shall be based on the normal
production and operation, and relied on specific business operations to avoid and prevent
various exchange rate risks. However, speculative transaction and interest arbitrage are not
allowed. At the same time, the system clearly defines the operating principles, approval
authority, responsible department and responsible person, internal operation procedures,
information isolation measures, internal risk reporting system, risk management procedures,
and information disclosure related to the forward settlement business as well. In fact, the
system is conducive to strengthen the management of the Company’s forward foreign
exchange settlement business and prevent investment risks. 3. In order to prevent any delay
in the forward exchange settlement, the Company will strengthen the management of
accounts receivable, actively collect receivables, and avoid any overdue receivables. In the
meantime, the Company plans to increase the export purchases and purchase corresponding
credit insurance so as to reduce the risk of default and customer default. 4. The Company’s
forward foreign exchange settlement transactions must be based on the Company’s foreign
exchange earnings prediction. Besides, the Company shall strictly control the scale of its
forward foreign exchange settlement business, and manage all risks that the Company may
face within a controllable range. 5. The internal audit department of the Company shall check
the actual signing and execution situation of all trading contracts on a regular or irregular
basis.
The Company carries out recognition and measurement in accordance with the Accounting
Standard for Business Enterprises No. 22—Recognition and Measurement of Financial
Changes in market prices or fair
Instruments, the Accounting Standard for Business Enterprises No. 24—Hedges, the
value of derivative investments in the
Accounting Standard for Business Enterprises No. 37—Presentation of Financial Instrument
Reporting Period (fair value analysis
and other applicable regulations. Fair value is arrived at based on the price provided by
should include measurement method
pricing service providers such as banks or the price obtained. Fair value measurement and
and related assumptions and
recognition are carried out on a monthly basis. Changes in the fair value of forward exchange
parameters)
settlement contracts entered into by the Company are mainly attributable to difference arising
from exchange rate fluctuations.
Significant changes in accounting
policies and specific accounting
principles adopted for derivative N/A
investments in the Reporting Period
compared to the last reporting period
Opinion of independent directors on The independent directors of the Company are of the opinion that during the Reporting
14
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
derivative investments and risk Period, the Company carried out forward forex settlement in strict compliance with the
control Company Law, the Regulations of the People’s Bank of China on Foreign Exchange
Settlement, Sale and Payment and the Company’s Management Rules for Forward Foreign
Exchange Settlement and Sale, among others, as well as within the Board’s authorization.
Such trading is primarily aimed to prevent exchange rate fluctuations from impacting the
Company’s export business and operating earnings, with no speculative trading involved. It
is a necessity, and the risk is well under control.
V Progress of Projects Financed with Raised Funds
□ Applicable √ Not applicable
VI 2020 Annual Operating Performance Forecast
Warning of a forecast loss on or a forecast significant year-on-year change in the 2020 annual net profit, as well as
explanation of why:
□ Applicable √ Not applicable
VII Significant Contracts Arising from the Company’s Ordinary Course of Business
□ Applicable √ Not applicable
VIII Cash Entrusted for Wealth Management
√ Applicable □ Not applicable
Unit: RMB’0,000
Unrecovered overdue
Type Funding source Amount Undue amount
amount
Bank’s wealth
Self-funded 43,000 0 0
management product
Structured deposits Self-funded 76,000 92,000 0
Total 119,000 92,000 0
High-risk wealth management transactions with a significant single amount, or with low security, low liquidity or
no principal protection:
√ Applicable □ Not applicable
Unit: RMB’0,000
Truste Type Type Princi Fundi Start End Invest Way Refere Expect Actual Recov Impair Throu Any Summ
e of of pal ng date date ment of nce ed gain/lo ery of ment gh plan ary
15
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
trustee wealth source with payba annual return ss in the allowa prescri for and
manag princi ck ized (if the gain/lo nce (if bed further index
ement pal rate of any) Report ss in any) proced transa to
product return ing the ures ctions more
Period Report or not infor
ing matio
Period n (if
any)
China
Repay
Minsh The
Low-ri ment
eng Comp 15 www.
sk 13 of
Bank any’s Octob Invest Unrec cninfo
Bank wealth 5,000 Augus princi 3.55% 30.64 23.34 Yes Yes
Fosha own er ment overed .com.c
manag t 2020 pal
n idle 2020 n
ement with
sub-br funds
yield
anch
China
Guang
fa Repay
The
Bank, Low-ri ment
Comp 26 www.
Guang sk 28 of
any’s Nove Invest Unrec cninfo
zhou Bank wealth 4,000 Augus princi 3.30% 32.55 12.3 Yes Yes
own mber ment overed .com.c
develo manag t 2020 pal
idle 2020 n
pment ement with
funds
area yield
sub-br
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China
Guang
fa Repay
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Bank, Low-ri ment
Comp 4 3 www.
Guang sk of
any’s Septe Dece Invest Unrec cninfo
zhou Bank wealth 5,000 princi 3.30% 40.68 11.75 Yes Yes
own mber mber ment overed .com.c
develo manag pal
idle 2020 2020 n
pment ement with
funds
area yield
sub-br
anch
Industr Low-ri The Repay
10 9 www.
ial and sk Comp ment
Septe Dece Invest Unrec cninfo
Comm Bank wealth 10,000 any’s of 3.40% 84.77 18.63 Yes Yes
mber mber ment overed .com.c
ercial manag own princi
2020 2020 n
Bank ement idle pal
16
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
of funds with
China, yield
Fosha
n
branch
Industr
ial and
Repay
Comm The
Low-ri ment
ercial Comp 11 13 www.
sk of
Bank any’s Septe Octob Invest Unrec cninfo
Bank wealth 10,000 princi 3.50% 30.68 18.22 Yes Yes
of own mber er ment overed .com.c
manag pal
China, idle 2020 2020 n
ement with
Fosha funds
yield
n
branch
Repay
Bank The
Low-ri ment
of Comp 11 14 www.
sk of
China, any’s Septe Dece Invest Unrec cninfo
Bank wealth 10,000 princi 3.50% 90.14 18.22 Yes Yes
Fosha own mber mber ment overed .com.c
manag pal
n idle 2020 2020 n
ement with
branch funds
yield
China Repay
The
Merch Low-ri ment
Comp 17 www.
ants sk 17 of
any’s Septe Invest Unrec cninfo
Bank, Bank wealth 10,000 March princi 4.30% 214.41 15.32 Yes Yes
own mber ment overed .com.c
Fosha manag 2021 pal
idle 2020 n
n ement with
funds
branch yield
Repay
Huaxi The
Low-ri ment
a Comp 15 30 www.
sk of
Bank, any’s Septe Octob Invest Unrec cninfo
Bank wealth 8,000 princi 2.92% 28.8 10.24 Yes Yes
Fosha own mber er ment overed .com.c
manag pal
n idle 2020 2020 n
ement with
branch funds
yield
Industr Repay
The
ial Low-ri ment
Comp 15 15 www.
Bank sk of
any’s Septe Dece Invest Unrec cninfo
Guang Bank wealth 10,000 princi 3.58% 89.25 14.71 Yes Yes
own mber mber ment overed .com.c
zhou manag pal
idle 2020 2020 n
Baiyu ement with
funds
n yield
17
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Sub-br
anch
Industr
ial and
Repay
Comm The
Low-ri ment
ercial Comp 22 27 www.
sk of
Bank any’s Septe Octob Invest Unrec cninfo
Bank wealth 20,000 princi 3.50% 67.12 15.34 Yes Yes
of own mber er ment overed .com.c
manag pal
China, idle 2020 2020 n
ement with
Fosha funds
yield
n
branch
Total 92,000 -- -- -- -- -- -- 709.04 158.07 -- -- -- --
Wealth management transactions with possible impairments including an expectedly unrecoverable principal:
□ Applicable √ Not applicable
IX Irregularities in the Provision of Guarantees
□ Applicable √ Not applicable
No such cases in the Reporting Period.
X Occupation of the Company’s Capital by the Controlling Shareholder or any of Its Related
Parties for Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
XI Communications with the Investment Community such as Researches, Inquiries and
Interviews Received during the Reporting Period
√ Applicable □ Not applicable
Main contents
Type of Index to main
Date of Place of Way of Communication communicated
communication information
communication communication communication party and materials
party communicated
provided
Inquired of the
The Company’s Great Wall production and www.cninfo.com.cn-Int
22 July 2020 Field research Institution
conference room Securities operation of the eraction Easy-IRs
Company
18
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by Foshan Electrical and Lighting Co., Ltd.
30 September 2020
Unit: RMB
Item 30 September 2020 31 December 2019
Current assets:
Monetary assets 1,116,022,922.87 1,125,456,662.64
Settlement reserve
Loans to other banks and financial
institutions
Held-for-trading financial assets 1,026,911,015.93 901,166,682.64
Derivative financial assets
Notes receivable 133,139,523.61 109,444,480.94
Accounts receivable 943,423,998.71 712,175,266.51
Receivables financing
Prepayments 14,464,209.52 7,851,390.78
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 33,999,418.26 22,307,344.76
Including: Interest receivable
Dividends receivable
Financial assets purchased under
resale agreements
Inventories 624,242,422.06 637,336,584.06
Contract assets
Assets held for sale
Current portion of non-current assets
Other current assets 58,987,241.85 52,502,863.59
19
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Total current assets 3,951,190,752.81 3,568,241,275.92
Non-current assets:
Loans and advances to customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 182,709,726.07 181,093,725.43
Investments in other equity
1,861,107,852.17 1,454,740,241.46
instruments
Other non-current financial assets
Investment property
Fixed assets 672,994,404.06 629,832,098.35
Construction in progress 61,426,124.76 119,030,610.16
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 164,591,241.17 167,826,499.74
Development costs
Goodwill
Long-term prepaid expense 12,441,270.03 7,727,394.74
Deferred income tax assets 32,262,510.96 36,847,064.36
Other non-current assets 7,592,157.09 9,861,098.08
Total non-current assets 2,995,125,286.31 2,606,958,732.32
Total assets 6,946,316,039.12 6,175,200,008.24
Current liabilities:
Short-term borrowings
Borrowings from the central bank
Loans from other banks and financial
institutions
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 506,326,979.83 374,665,327.74
Accounts payable 801,322,627.18 559,016,692.70
Advances from customers 50,449,357.17
Contract liabilities 56,790,214.34
20
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Financial assets sold under
repurchase agreements
Customer deposits and deposits from
other banks and financial institutions
Payables for acting trading of
securities
Payables for underwriting of
securities
Employee benefits payable 53,298,130.78 83,156,852.86
Taxes and levies payable 33,492,447.39 17,211,068.21
Other payables 57,941,289.94 46,073,344.71
Including: Interest payable
Dividends payable
Fees and commissions payable
Reinsurance payables
Liabilities directly associated with
assets held for sale
Current portion of non-current
liabilities
Other current liabilities
Total current liabilities 1,509,171,689.46 1,130,572,643.39
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term employee benefits
payable
Provisions
Deferred income
Deferred income tax liabilities 197,939,198.29 137,216,136.70
Other non-current liabilities
Total non-current liabilities 197,939,198.29 137,216,136.70
Total liabilities 1,707,110,887.75 1,267,788,780.09
21
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Owners’ equity:
Share capital 1,399,346,154.00 1,399,346,154.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 158,608,173.07 158,608,173.07
Less: Treasury stock
Other comprehensive income 1,121,694,634.91 776,260,348.19
Specific reserve
Surplus reserves 836,559,645.36 836,559,645.36
General reserve
Retained earnings 1,683,858,450.11 1,709,962,479.45
Total equity attributable to owners of
5,200,067,057.45 4,880,736,800.07
the Company as the parent
Non-controlling interests 39,138,093.92 26,674,428.08
Total owners’ equity 5,239,205,151.37 4,907,411,228.15
Total liabilities and owners’ equity 6,946,316,039.12 6,175,200,008.24
Legal representative: Wu Shenghui Chief Financial Officer: Tang Qionglan Accounting manager: Peng Fentao
2. Balance Sheet of the Company as the Parent
Unit: RMB
Item 30 September 2020 31 December 2019
Current assets:
Monetary assets 995,846,819.15 1,059,001,233.28
Held-for-trading financial assets 1,026,911,015.93 901,166,682.64
Derivative financial assets
Notes receivable 125,734,764.39 107,567,164.99
Accounts receivable 906,650,768.35 666,106,832.53
Receivables financing
Prepayments 10,670,485.83 6,614,791.10
Other receivables 89,162,456.61 37,934,614.96
Including: Interest receivable
Dividends receivable
Inventories 520,611,115.85 553,557,529.00
22
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Contract assets
Assets held for sale
Current portion of non-current assets
Other current assets 49,171,841.81 43,118,385.01
Total current assets 3,724,759,267.92 3,375,067,233.51
Non-current assets:
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 483,187,828.33 464,886,827.69
Investments in other equity
1,861,107,852.17 1,454,740,241.46
instruments
Other non-current financial assets
Investment property
Fixed assets 613,451,214.70 573,844,707.66
Construction in progress 61,095,990.03 116,240,559.37
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 123,000,097.53 125,673,065.66
Development costs
Goodwill
Long-term prepaid expense 10,739,153.61 4,891,398.93
Deferred income tax assets 29,152,043.99 34,205,213.27
Other non-current assets 6,110,857.09 8,440,448.08
Total non-current assets 3,187,845,037.45 2,782,922,462.12
Total assets 6,912,604,305.37 6,157,989,695.63
Current liabilities:
Short-term borrowings
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 506,326,979.83 376,265,327.74
Accounts payable 927,958,506.36 689,846,497.35
Advances from customers 46,758,714.00
23
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Contract liabilities 52,998,958.91
Employee benefits payable 38,012,304.77 68,658,329.30
Taxes and levies payable 27,205,723.90 12,374,430.19
Other payables 169,270,271.09 125,001,875.83
Including: Interest payable
Dividends payable
Liabilities directly associated with
assets held for sale
Current portion of non-current
liabilities
Other current liabilities
Total current liabilities 1,721,772,744.86 1,318,905,174.41
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term employee benefits
payable
Provisions
Deferred income
Deferred income tax liabilities 197,939,198.29 137,216,136.70
Other non-current liabilities
Total non-current liabilities 197,939,198.29 137,216,136.70
Total liabilities 1,919,711,943.15 1,456,121,311.11
Owners’ equity:
Share capital 1,399,346,154.00 1,399,346,154.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 166,211,779.15 166,211,779.15
Less: Treasury stock
Other comprehensive income 1,121,655,457.02 776,242,987.90
24
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Specific reserve
Surplus reserves 836,559,645.36 836,559,645.36
Retained earnings 1,469,119,326.69 1,523,507,818.11
Total owners’ equity 4,992,892,362.22 4,701,868,384.52
Total liabilities and owners’ equity 6,912,604,305.37 6,157,989,695.63
Legal representative: Wu Shenghui Chief Financial Officer: Tang Qionglan Accounting manager: Peng Fentao
3. Consolidated Income Statement for Q3
Unit: RMB
Item Q3 2020 Q3 2019
1. Revenues 1,036,642,740.19 755,281,612.77
Including: Operating revenue 1,036,642,740.19 755,281,612.77
Interest income
Insurance premium income
Fee and commission
income
2. Costs and expenses 948,225,457.90 691,448,806.54
Including: Cost of sales 810,084,305.71 580,798,340.17
Interest expense
Fee and commission
expense
Surrenders
Net insurance claims paid
Net amount provided as
insurance contract reserve
Expenditure on policy
dividends
Reinsurance premium
expense
Taxes and levies 9,624,519.38 8,935,144.14
Selling expense 46,613,508.38 56,301,280.46
Administrative expense 39,257,552.11 38,716,494.36
R&D expense 38,188,244.31 21,396,838.92
Finance costs 4,457,328.01 -14,699,291.51
Including: Interest
expense
25
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Interest
10,768,889.50 5,992,546.47
income
Add: Other income 7,842,020.36 1,141,840.25
Return on investment (“-” for loss) 1,630,653.95 11,278,789.23
Including: Share of profit or loss
-1,028,690.75 90,350.15
of joint ventures and associates
Income from the
derecognition of financial assets at
amortized cost (“-” for loss)
Exchange gain (“-” for loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
1,977,350.00 -1,152,200.00
for loss)
Credit impairment loss (“-” for
-623,475.32 2,786,071.54
loss)
Asset impairment loss (“-” for loss) 82,041.70
Asset disposal income (“-” for
loss)
3. Operating profit (“-” for loss) 99,243,831.28 77,969,348.95
Add: Non-operating income 273,412.73 730,448.59
Less: Non-operating expense 85,914.67 2,202,281.98
4. Gross profit (“-” for loss) 99,431,329.34 76,497,515.56
Less: Income tax expense 16,430,921.60 11,345,388.86
5. Net profit (“-” for net loss) 83,000,407.74 65,152,126.70
5.1 By operating continuity
5.1.1 Net profit from continuing
83,000,407.74 65,152,126.70
operations (“-” for net loss)
5.1.2 Net profit from discontinued
operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to
81,713,561.32 63,440,260.60
owners of the Company as the parent
5.2.1 Net profit attributable to
1,286,846.42 1,711,866.10
non-controlling interests
6. Other comprehensive income, net of
-116,314,514.57 -21,164,061.27
tax
Attributable to owners of the Company
-116,314,514.57 -21,164,061.27
as the parent
26
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
6.1 Items that will not be
-116,353,415.53 -21,132,875.94
reclassified to profit or loss
6.1.1 Changes caused by
remeasurements on defined benefit
schemes
6.1.2 Other comprehensive
income that will not be reclassified to
profit or loss under the equity method
6.1.3 Changes in the fair value of
-116,353,415.53 -21,132,875.94
investments in other equity instruments
6.1.4 Changes in the fair value
arising from changes in own credit risk
6.1.5 Other
6.2 Items that will be reclassified to
38,900.96 -31,185.33
profit or loss
6.2.1 Other comprehensive
income that will be reclassified to profit
or loss under the equity method
6.2.2 Changes in the fair value of
other debt investments
6.2.3 Other comprehensive
income arising from the reclassification
of financial assets
6.2.4 Credit impairment
allowance for other debt investments
6.2.5 Reserve for cash flow
hedges
6.2.6 Differences arising from the
translation of foreign
38,900.96 -31,185.33
currency-denominated financial
statements
6.2.7 Other
Attributable to non-controlling
interests
7. Total comprehensive income -33,314,106.83 43,988,065.43
Attributable to owners of the Company
-34,600,953.25 42,276,199.33
as the parent
Attributable to non-controlling
1,286,846.42 1,711,866.10
interests
8. Earnings per share
8.1 Basic earnings per share 0.0584 0.0453
8.2 Diluted earnings per share 0.0584 0.0453
27
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees before
the combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.
Legal representative: Wu Shenghui Chief Financial Officer: Tang Qionglan Accounting manager: Peng Fentao
4. Income Statement of the Company as the Parent for Q3
Unit: RMB
Item Q3 2020 Q3 2019
1. Operating revenue 982,873,026.74 740,099,125.98
Less: Cost of sales 790,637,663.33 584,073,731.53
Taxes and levies 8,294,288.65 7,830,107.52
Selling expense 38,682,563.88 51,020,010.55
Administrative expense 34,690,501.27 33,727,059.40
R&D expense 35,052,331.20 19,137,384.89
Finance costs 4,652,388.12 -14,606,198.25
Including: Interest expense
Interest income 10,581,438.02 5,888,747.23
Add: Other income 7,774,020.36 1,003,660.25
Return on investment (“-” for
1,630,653.95 11,278,789.23
loss)
Including: Share of profit or
-1,028,690.75 90,350.15
loss of joint ventures and associates
Income from the
derecognition of financial assets at
amortized cost (“-” for loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
1,977,350.00 -1,152,200.00
for loss)
Credit impairment loss (“-” for
-141,936.02 2,533,358.60
loss)
Asset impairment loss (“-” for
82,041.70
loss)
Asset disposal income (“-” for
loss)
2. Operating profit (“-” for loss) 82,103,378.58 72,662,680.12
Add: Non-operating income 250,295.50 674,724.20
Less: Non-operating expense 85,914.67 2,202,281.98
28
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
3. Gross profit (“-” for loss) 82,267,759.41 71,135,122.34
Less: Income tax expense 12,494,467.50 9,973,689.36
4. Net profit (“-” for net loss) 69,773,291.91 61,161,432.98
4.1 Net profit from continuing
69,773,291.91 61,161,432.98
operations (“-” for net loss)
4.2 Net profit from discontinued
operations (“-” for net loss)
5. Other comprehensive income, net of
-116,353,415.53 -21,132,875.94
tax
5.1 Items that will not be reclassified
-116,353,415.53 -21,132,875.94
to profit or loss
5.1.1 Changes caused by
remeasurements on defined benefit
schemes
5.1.2 Other comprehensive income
that will not be reclassified to profit or
loss under the equity method
5.1.3 Changes in the fair value of
-116,353,415.53 -21,132,875.94
investments in other equity instruments
5.1.4 Changes in the fair value
arising from changes in own credit risk
5.1.5 Other
5.2 Items that will be reclassified to
profit or loss
5.2.1 Other comprehensive income
that will be reclassified to profit or loss
under the equity method
5.2.2 Changes in the fair value of
other debt investments
5.2.3 Other comprehensive income
arising from the reclassification of
financial assets
5.2.4 Credit impairment allowance
for other debt investments
5.2.5 Reserve for cash flow hedges
5.2.6 Differences arising from the
translation of foreign
currency-denominated financial
statements
5.2.7 Other
6. Total comprehensive income -46,580,123.62 40,028,557.04
29
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
7. Earnings per share
7.1 Basic earnings per share
7.2 Diluted earnings per share
Legal representative: Wu Shenghui Chief Financial Officer: Tang Qionglan Accounting manager: Peng Fentao
5. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2020 Q1~Q3 2019
1. Revenues 2,559,526,867.23 2,442,466,273.63
Including: Operating revenue 2,559,526,867.23 2,442,466,273.63
Interest income
Insurance premium income
Fee and commission
income
2. Costs and expenses 2,324,932,707.61 2,220,522,130.06
Including: Cost of sales 1,971,682,541.82 1,878,135,053.94
Interest expense
Fee and commission
expense
Surrenders
Net insurance claims paid
Net amount provided as
insurance contract reserve
Expenditure on policy
dividends
Reinsurance premium
expense
Taxes and levies 25,475,917.14 29,771,412.88
Selling expense 141,891,111.08 179,711,846.84
Administrative expense 103,473,447.64 106,253,674.05
R&D expense 97,286,326.04 51,257,471.53
Finance costs -14,876,636.11 -24,607,329.18
Including: Interest
expense
Interest
28,257,014.56 16,370,875.76
income
30
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Add: Other income 10,870,023.46 6,665,710.25
Return on investment (“-” for loss) 37,773,909.66 55,118,448.97
Including: Share of profit or loss
3,696,391.14 875,062.13
of joint ventures and associates
Income from the
derecognition of financial assets at
amortized cost (“-” for loss)
Exchange gain (“-” for loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
445,000.00 -2,148,400.00
for loss)
Credit impairment loss (“-” for
-4,002,685.70 1,749,099.60
loss)
Asset impairment loss (“-” for loss) -3,200,793.69 -12,157,202.51
Asset disposal income (“-” for
7,489.02
loss)
3. Operating profit (“-” for loss) 276,487,102.37 271,171,799.88
Add: Non-operating income 936,299.73 2,672,321.16
Less: Non-operating expense 1,110,482.81 2,680,673.95
4. Gross profit (“-” for loss) 276,312,919.29 271,163,447.09
Less: Income tax expense 39,481,644.30 38,512,677.43
5. Net profit (“-” for net loss) 236,831,274.99 232,650,769.66
5.1 By operating continuity
5.1.1 Net profit from continuing
236,831,274.99 232,650,769.66
operations (“-” for net loss)
5.1.2 Net profit from discontinued
operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to
232,775,009.15 230,715,986.35
owners of the Company as the parent
5.2.1 Net profit attributable to
4,056,265.84 1,934,783.31
non-controlling interests
6. Other comprehensive income, net of
345,434,286.72 40,471,826.38
tax
Attributable to owners of the Company
345,434,286.72 40,471,826.38
as the parent
6.1 Items that will not be
345,412,469.12 40,488,833.87
reclassified to profit or loss
31
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
6.1.1 Changes caused by
remeasurements on defined benefit
schemes
6.1.2 Other comprehensive
income that will not be reclassified to
profit or loss under the equity method
6.1.3 Changes in the fair value of
345,412,469.12 40,488,833.87
investments in other equity instruments
6.1.4 Changes in the fair value
arising from changes in own credit risk
6.1.5 Other
6.2 Items that will be reclassified to
21,817.60 -17,007.49
profit or loss
6.2.1 Other comprehensive
income that will be reclassified to profit
or loss under the equity method
6.2.2 Changes in the fair value of
other debt investments
6.2.3 Other comprehensive
income arising from the reclassification
of financial assets
6.2.4 Credit impairment
allowance for other debt investments
6.2.5 Reserve for cash flow
hedges
6.2.6 Differences arising from the
translation of foreign
21,817.60 -17,007.49
currency-denominated financial
statements
6.2.7 Other
Attributable to non-controlling
interests
7. Total comprehensive income 582,265,561.71 273,122,596.04
Attributable to owners of the Company
578,209,295.87 271,187,812.73
as the parent
Attributable to non-controlling
4,056,265.84 1,934,783.31
interests
8. Earnings per share
8.1 Basic earnings per share 0.1663 0.1649
8.2 Diluted earnings per share 0.1663 0.1649
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees before
the combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.
32
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Legal representative: Wu Shenghui Chief Financial Officer: Tang Qionglan Accounting manager: Peng Fentao
6. Income Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2020 Q1~Q3 2019
1. Operating revenue 2,405,857,102.58 2,375,758,293.94
Less: Cost of sales 1,904,895,521.87 1,868,485,313.34
Taxes and levies 21,090,379.09 25,780,092.13
Selling expense 125,824,291.98 165,043,294.64
Administrative expense 91,129,402.01 92,197,397.18
R&D expense 88,464,262.40 47,267,023.97
Finance costs -14,407,225.33 -24,277,401.37
Including: Interest expense
Interest income 27,780,321.02 16,013,181.20
Add: Other income 10,581,048.36 6,327,530.25
Return on investment (“-” for
37,773,909.66 55,448,677.17
loss)
Including: Share of profit or
3,696,391.14 875,062.13
loss of joint ventures and associates
Income from the
derecognition of financial assets at
amortized cost (“-” for loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
445,000.00 -2,148,400.00
for loss)
Credit impairment loss (“-” for
-1,690,892.30 2,434,197.31
loss)
Asset impairment loss (“-” for
-2,500,432.51 -11,722,378.21
loss)
Asset disposal income (“-” for
7,489.02
loss)
2. Operating profit (“-” for loss) 233,476,592.79 251,602,200.57
Add: Non-operating income 778,144.92 2,423,216.08
Less: Non-operating expense 354,292.31 2,590,176.44
3. Gross profit (“-” for loss) 233,900,445.40 251,435,240.21
Less: Income tax expense 29,409,898.33 32,869,714.22
33
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
4. Net profit (“-” for net loss) 204,490,547.07 218,565,525.99
4.1 Net profit from continuing
204,490,547.07 218,565,525.99
operations (“-” for net loss)
4.2 Net profit from discontinued
operations (“-” for net loss)
5. Other comprehensive income, net of
345,412,469.12 40,488,833.87
tax
5.1 Items that will not be reclassified
345,412,469.12 40,488,833.87
to profit or loss
5.1.1 Changes caused by
remeasurements on defined benefit
schemes
5.1.2 Other comprehensive income
that will not be reclassified to profit or
loss under the equity method
5.1.3 Changes in the fair value of
345,412,469.12 40,488,833.87
investments in other equity instruments
5.1.4 Changes in the fair value
arising from changes in own credit risk
5.1.5 Other
5.2 Items that will be reclassified to
profit or loss
5.2.1 Other comprehensive income
that will be reclassified to profit or loss
under the equity method
5.2.2 Changes in the fair value of
other debt investments
5.2.3 Other comprehensive income
arising from the reclassification of
financial assets
5.2.4 Credit impairment allowance
for other debt investments
5.2.5 Reserve for cash flow hedges
5.2.6 Differences arising from the
translation of foreign
currency-denominated financial
statements
5.2.7 Other
6. Total comprehensive income 549,903,016.19 259,054,359.86
7. Earnings per share
7.1 Basic earnings per share
34
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
7.2 Diluted earnings per share
Legal representative: Wu Shenghui Chief Financial Officer: Tang Qionglan Accounting manager: Peng Fentao
7. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2020 Q1~Q3 2019
1. Cash flows from operating activities:
Proceeds from sale of commodities
2,365,767,056.58 2,592,925,263.78
and rendering of services
Net increase in customer deposits and
deposits from other banks and financial
institutions
Net increase in borrowings from the
central bank
Net increase in loans from other
financial institutions
Premiums received on original
insurance contracts
Net proceeds from reinsurance
Net increase in deposits and
investments of policy holders
Interest, fees and commissions
received
Net increase in loans from other
banks and financial institutions
Net increase in proceeds from
repurchase transactions
Net proceeds from acting trading of
securities
Tax and levy rebates 78,544,375.70 76,915,672.88
Cash generated from other operating
75,707,388.30 101,313,019.67
activities
Subtotal of cash generated from
2,520,018,820.58 2,771,153,956.33
operating activities
Payments for commodities and
1,403,011,355.81 1,641,623,556.46
services
Net increase in loans and advances to
customers
Net increase in deposits in the central
bank and other banks and financial
35
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
institutions
Payments for claims on original
insurance contracts
Net increase in loans to other banks
and financial institutions
Interest, fees and commissions paid
Policy dividends paid
Cash paid to and for employees 487,026,289.13 472,172,124.51
Taxes and levies paid 132,009,675.42 145,610,049.05
Cash used in other operating
145,887,548.15 175,801,004.61
activities
Subtotal of cash used in operating
2,167,934,868.51 2,435,206,734.63
activities
Net cash generated from/used in
352,083,952.07 335,947,221.70
operating activities
2. Cash flows from investing activities:
Proceeds from disinvestment 21,000,000.00
Return on investment 40,476,714.61 60,410,002.14
Net proceeds from the disposal of
fixed assets, intangible assets and other 134,956.12 40,834.00
long-lived assets
Net proceeds from the disposal of
subsidiaries and other business units
Cash generated from other investing
activities
Subtotal of cash generated from
40,611,670.73 81,450,836.14
investing activities
Payments for the acquisition of fixed
assets, intangible assets and other 54,508,981.82 33,495,022.79
long-lived assets
Payments for investments 125,000,000.00
Net increase in pledged loans granted
Net payments for the acquisition of
subsidiaries and other business units
Cash used in other investing
activities
Subtotal of cash used in investing
179,508,981.82 33,495,022.79
activities
Net cash generated from/used in
-138,897,311.09 47,955,813.35
investing activities
3. Cash flows from financing activities:
36
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Capital contributions received 2,350,000.00
Including: Capital contributions by
2,350,000.00
non-controlling interests to subsidiaries
Borrowings received
Cash generated from other financing
activities
Subtotal of cash generated from
2,350,000.00
financing activities
Repayment of borrowings
Interest and dividends paid 258,879,038.49 218,298,000.02
Including: Dividends paid by
subsidiaries to non-controlling interests
Cash used in other financing
activities
Subtotal of cash used in financing
258,879,038.49 218,298,000.02
activities
Net cash generated from/used in
-258,879,038.49 -215,948,000.02
financing activities
4. Effect of foreign exchange rates
-1,874,714.70 531,705.94
changes on cash and cash equivalents
5. Net increase in cash and cash
-47,567,112.21 168,486,740.97
equivalents
Add: Cash and cash equivalents,
1,049,833,555.02 795,285,756.38
beginning of the period
6. Cash and cash equivalents, end of the
1,002,266,442.81 963,772,497.35
period
Legal representative: Wu Shenghui Chief Financial Officer: Tang Qionglan Accounting manager: Peng Fentao
8. Cash Flow Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2020 Q1~Q3 2019
1. Cash flows from operating activities:
Proceeds from sale of commodities
2,230,510,122.56 2,496,081,015.34
and rendering of services
Tax and levy rebates 78,527,235.44 76,904,234.22
Cash generated from other operating
65,792,284.74 87,466,294.97
activities
Subtotal of cash generated from
2,374,829,642.74 2,660,451,544.53
operating activities
37
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Payments for commodities and
1,459,286,205.15 1,712,948,237.15
services
Cash paid to and for employees 373,949,169.57 357,209,702.93
Taxes and levies paid 96,117,991.31 109,330,385.86
Cash used in other operating
133,951,112.09 158,745,798.35
activities
Subtotal of cash used in operating
2,063,304,478.12 2,338,234,124.29
activities
Net cash generated from/used in
311,525,164.62 322,217,420.24
operating activities
2. Cash flows from investing activities:
Proceeds from disinvestment 21,000,000.00
Return on investment 40,476,714.61 60,740,230.34
Net proceeds from the disposal of
fixed assets, intangible assets and other 128,339.02 40,330.00
long-lived assets
Net proceeds from the disposal of
subsidiaries and other business units
Cash generated from other investing
activities
Subtotal of cash generated from
40,605,053.63 81,780,560.34
investing activities
Payments for the acquisition of fixed
assets, intangible assets and other 50,981,597.97 31,023,609.46
long-lived assets
Payments for investments 141,685,000.00
Net payments for the acquisition of
subsidiaries and other business units
Cash used in other investing
activities
Subtotal of cash used in investing
192,666,597.97 31,023,609.46
activities
Net cash generated from/used in
-152,061,544.34 50,756,950.88
investing activities
3. Cash flows from financing activities:
Capital contributions received
Borrowings received
Cash generated from other financing
activities
Subtotal of cash generated from
financing activities
38
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Repayment of borrowings
Interest and dividends paid 258,879,038.49 218,298,000.02
Cash used in other financing
activities
Subtotal of cash used in financing
258,879,038.49 218,298,000.02
activities
Net cash generated from/used in
-258,879,038.49 -218,298,000.02
financing activities
4. Effect of foreign exchange rates
-1,872,368.36 522,595.23
changes on cash and cash equivalents
5. Net increase in cash and cash
-101,287,786.57 155,198,966.33
equivalents
Add: Cash and cash equivalents,
983,378,125.66 747,588,730.42
beginning of the period
6. Cash and cash equivalents, end of the
882,090,339.09 902,787,696.75
period
Legal representative: Wu Shenghui Chief Financial Officer: Tang Qionglan Accounting manager: Peng Fentao
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year (2020) of the New
Accounting Standards Governing Revenue and Leases
√ Applicable □ Not applicable
Whether items of the balance sheets at the beginning of the year need adjustments
√ Yes □ No
Consolidated balance sheet
Unit: RMB
Item 31 December 2019 1 January 2020 Adjustment
Current assets:
Monetary assets 1,125,456,662.64 1,125,456,662.64
Settlement reserve
Loans to other banks and
financial institutions
Held-for-trading financial
901,166,682.64 901,166,682.64
assets
Derivative financial assets
Notes receivable 109,444,480.94 109,444,480.94
Accounts receivable 712,175,266.51 712,175,266.51
Receivables financing
39
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Prepayments 7,851,390.78 7,851,390.78
Premiums receivable
Reinsurance receivables
Receivable reinsurance
contract reserve
Other receivables 22,307,344.76 22,307,344.76
Including: Interest
receivable
Dividends
receivable
Financial assets purchased
under resale agreements
Inventories 637,336,584.06 637,336,584.06
Contract assets
Assets held for sale
Current portion of
non-current assets
Other current assets 52,502,863.59 52,502,863.59
Total current assets 3,568,241,275.92 3,568,241,275.92
Non-current assets:
Loans and advances to
customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity
181,093,725.43 181,093,725.43
investments
Investments in other equity
1,454,740,241.46 1,454,740,241.46
instruments
Other non-current financial
assets
Investment property
Fixed assets 629,832,098.35 629,832,098.35
Construction in progress 119,030,610.16 119,030,610.16
Productive living assets
Oil and gas assets
Right-of-use assets
40
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Intangible assets 167,826,499.74 167,826,499.74
Development costs
Goodwill
Long-term prepaid
7,727,394.74 7,727,394.74
expense
Deferred income tax assets 36,847,064.36 36,847,064.36
Other non-current assets 9,861,098.08 9,861,098.08
Total non-current assets 2,606,958,732.32 2,606,958,732.32
Total assets 6,175,200,008.24 6,175,200,008.24
Current liabilities:
Short-term borrowings
Borrowings from the
central bank
Loans from other banks
and financial institutions
Held-for-trading financial
liabilities
Derivative financial
liabilities
Notes payable 374,665,327.74 374,665,327.74
Accounts payable 559,016,692.70 559,016,692.70
Advances from customers 50,449,357.17 -50,449,357.17
Contract liabilities 50,449,357.17 50,449,357.17
Financial assets sold under
repurchase agreements
Customer deposits and
deposits from other banks
and financial institutions
Payables for acting trading
of securities
Payables for underwriting
of securities
Employee benefits payable 83,156,852.86 83,156,852.86
Taxes and levies payable 17,211,068.21 17,211,068.21
Other payables 46,073,344.71 46,073,344.71
Including: Interest
payable
Dividends
41
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
payable
Fees and commissions
payable
Reinsurance payables
Liabilities directly
associated with assets held
for sale
Current portion of
non-current liabilities
Other current liabilities
Total current liabilities 1,130,572,643.39 1,130,572,643.39
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preference
shares
Perpetual
bonds
Lease liabilities
Long-term payables
Long-term employee
benefits payable
Provisions
Deferred income
Deferred income tax
137,216,136.70 137,216,136.70
liabilities
Other non-current
liabilities
Total non-current liabilities 137,216,136.70 137,216,136.70
Total liabilities 1,267,788,780.09 1,267,788,780.09
Owners’ equity:
Share capital 1,399,346,154.00 1,399,346,154.00
Other equity instruments
Including: Preference
shares
Perpetual
bonds
Capital reserves 158,608,173.07 158,608,173.07
42
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Less: Treasury stock
Other comprehensive
776,260,348.19 776,260,348.19
income
Specific reserve
Surplus reserves 836,559,645.36 836,559,645.36
General reserve
Retained earnings 1,709,962,479.45 1,709,962,479.45
Total equity attributable to
owners of the Company as 4,880,736,800.07 4,880,736,800.07
the parent
Non-controlling interests 26,674,428.08 26,674,428.08
Total owners’ equity 4,907,411,228.15 4,907,411,228.15
Total liabilities and owners’
6,175,200,008.24 6,175,200,008.24
equity
Notes to the adjustment
In accordance with the new standards governing revenue, “contract liabilities” refer to the Company’s obligations in transferring
commodities or services to the client for the received or predicted consideration. The “advances from customers” of the Company
received in advance due to performance of contract obligations by customers shall be adjusted into “contract liabilities”.
Balance sheet of the Company as the parent
Unit: RMB
Item 31 December 2019 1 January 2020 Adjustment
Current assets:
Monetary assets 1,059,001,233.28 1,059,001,233.28
Held-for-trading financial
901,166,682.64 901,166,682.64
assets
Derivative financial assets
Notes receivable 107,567,164.99 107,567,164.99
Accounts receivable 666,106,832.53 666,106,832.53
Receivables financing
Prepayments 6,614,791.10 6,614,791.10
Other receivables 37,934,614.96 37,934,614.96
Including: Interest
receivable
Dividends
receivable
Inventories 553,557,529.00 553,557,529.00
43
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Contract assets
Assets held for sale
Current portion of
non-current assets
Other current assets 43,118,385.01 43,118,385.01
Total current assets 3,375,067,233.51 3,375,067,233.51
Non-current assets:
Debt investments
Other debt investments
Long-term receivables
Long-term equity
464,886,827.69 464,886,827.69
investments
Investments in other equity
1,454,740,241.46 1,454,740,241.46
instruments
Other non-current financial
assets
Investment property
Fixed assets 573,844,707.66 573,844,707.66
Construction in progress 116,240,559.37 116,240,559.37
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 125,673,065.66 125,673,065.66
Development costs
Goodwill
Long-term prepaid
4,891,398.93 4,891,398.93
expense
Deferred income tax assets 34,205,213.27 34,205,213.27
Other non-current assets 8,440,448.08 8,440,448.08
Total non-current assets 2,782,922,462.12 2,782,922,462.12
Total assets 6,157,989,695.63 6,157,989,695.63
Current liabilities:
Short-term borrowings
Held-for-trading financial
liabilities
Derivative financial
liabilities
44
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Notes payable 376,265,327.74 376,265,327.74
Accounts payable 689,846,497.35 689,846,497.35
Advances from customers 46,758,714.00 -46,758,714.00
Contract liabilities 46,758,714.00 46,758,714.00
Employee benefits payable 68,658,329.30 68,658,329.30
Taxes and levies payable 12,374,430.19 12,374,430.19
Other payables 125,001,875.83 125,001,875.83
Including: Interest
payable
Dividends
payable
Liabilities directly
associated with assets held
for sale
Current portion of
non-current liabilities
Other current liabilities
Total current liabilities 1,318,905,174.41 1,318,905,174.41
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preference
shares
Perpetual
bonds
Lease liabilities
Long-term payables
Long-term employee
benefits payable
Provisions
Deferred income
Deferred income tax
137,216,136.70 137,216,136.70
liabilities
Other non-current
liabilities
Total non-current liabilities 137,216,136.70 137,216,136.70
Total liabilities 1,456,121,311.11 1,456,121,311.11
Owners’ equity:
45
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2020
Share capital 1,399,346,154.00 1,399,346,154.00
Other equity instruments
Including: Preference
shares
Perpetual
bonds
Capital reserves 166,211,779.15 166,211,779.15
Less: Treasury stock
Other comprehensive
776,242,987.90 776,242,987.90
income
Specific reserve
Surplus reserves 836,559,645.36 836,559,645.36
Retained earnings 1,523,507,818.11 1,523,507,818.11
Total owners’ equity 4,701,868,384.52 4,701,868,384.52
Total liabilities and owners’
6,157,989,695.63 6,157,989,695.63
equity
Notes to the adjustment
In accordance with the new standards governing revenue, “contract liabilities” refer to the Company’s obligations in transferring
commodities or services to the client for the received or predicted consideration. The “advances from customers” of the Company
received in advance due to performance of contract obligations by customers shall be adjusted into “contract liabilities”.
2. Retrospective Adjustments to the Comparative Data of Prior Periods due to the First Execution in 2020
of the New Accounting Standards Governing Revenue and Leases
□ Applicable √ Not applicable
III Independent Auditor’s Report
Indicate by tick mark whether the financial statements above have been audited by an independent auditor.
□Yes √ No
These financial statements have not been audited by such an auditor.
The Board of Directors
Foshan Electrical and Lighting Co., Ltd.
28 October 2020
46