Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2022
Stock Code: 000541, 200541 Stock Name: FSL, FSL-B Announcement No. 2022-062
FOSHAN ELECTRICAL AND LIGHTING CO., LTD.
THIRD QUARTERLY REPORT 2022
Foshan Electrical and Lighting Co., Ltd. (hereinafter referred to as the “Company”) and all the members
of the Company’s Board of Directors hereby guarantee that the contents of this Report are true, accurate
and complete and free of any misrepresentations, misleading statements or material omissions.
Important Notes:
1. The Board of Directors, the Supervisory Committee as well as the directors, supervisors and senior
management of the Company hereby guarantee that the contents of this Report 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.
2. The Company’s legal representative, Chief Financial Officer (CFO), and person-in-charge of the Company’s
accounting organ (equivalent to accounting manager) hereby guarantee that the financial statements carried in
this Report are true, accurate and complete.
3. Indicate whether the financial statements in this Report have been audited by an independent auditor.
□Yes No
I Key Financial Information
(I) Key Accounting Data and Financial Indicators
Indicate whether there is any retrospectively restated datum in the table below.
Yes □ No
Reason for any retrospectively adjustment or restatement
Business Combination under the same control
YoY YoY
Q3 2021 Q1-Q3 Q1-Q3 2021
Q3 2022 change (%) change (%)
2022
Before Restated Restated Before Restated Restated
Operating
2,061,412 1,291,797 2,388,802 6,409,681 3,247,139 6,015,002
revenue -13.71% 6.56%
(RMB) ,360.91 ,822.97 ,042.86 ,360.22 ,939.17 ,303.03
Net profit 60,088,02 81,457,73 95,032,08 -36.77% 220,752,4 192,013,2 217,409,6 1.54%
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2022
attributable 6.76 5.74 4.70 60.04 78.67 37.30
to the listed
company’s
shareholder
s (RMB)
Net profit
attributable
to the listed
company’s
shareholder 64,167,90 49,859,28 45,186,73 225,030,4 148,809,7 136,375,1
42.01% 65.01%
s before 8.29 5.46 7.03 32.47 92.97 03.10
exceptional
gains and
losses
(RMB)
Net cash
generated
from/used -
544,288,0 439,002,0
in - - - - 53,586,11 23.98%
operating 75.20 14.50
9.35
activities
(RMB)
Basic
earnings
per share 0.0445 0.0604 0.0704 -36.79% 0.1636 0.1423 0.1612 1.49%
(RMB/shar
e)
Diluted
earnings
per share 0.0441 0.0598 0.0698 -36.82% 0.1621 0.1410 0.1596 1.57%
(RMB/shar
e)
Weighted
average
1.20% 1.34% 1.32% -0.12% 3.88% 3.16% 3.01% 0.88%
return on
equity (%)
31 December 2021 YoY change (%)
30 September 2022
Before Restated Restated
Total assets
14,290,151,975.79 9,699,592,528.61 16,317,843,693.47 -12.43%
(RMB)
Equity
attributable
to the listed
5,182,871,248.29 5,800,558,588.34 6,986,502,976.72 -25.82%
company’s
shareholder
s (RMB)
Note: The Company has completed in February 2022 the major asset restructuring involving the acquisition of a
21.32% stake held by Rising Group and its acting-in-concert parties in NationStar Optoelectronics. NationStar
Optoelectronics has been included in the Company’s consolidated financial statements since 2022, with
retrospective adjustments to relevant financial statement data of the same period of last year and the end of last
year.
(II) Exceptional Gains and Losses
Applicable □ Not applicable
Unit: RMB
Item Q3 2022 Q1-Q3 2022 Note
Gain or loss on disposal of non-current
assets (inclusive of impairment 1,127,472.19 -4,595,893.18
allowance write-offs)
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2022
Government grants through profit or
loss (exclusive of government grants
given in the Company’s ordinary course
16,162,559.15 47,741,537.68
of business at fixed quotas or amounts
as per the government’s uniform
standards)
Capital occupation charges on non-
financial enterprises that are recognized 84,351.00 297,393.31
in profit or loss
Current gains and losses on subsidiaries
acquired through business mergers
9,568,639.83
under same control from period-
beginning to merger dates, net
Gain or loss on fair-value changes on
held-for-trading financial assets and
liabilities & income from disposal of
held-for-trading financial assets and
liabilities and available-for-sale -11,431,303.36 -20,429,161.45
financial assets (exclusive of the
effective portion of hedges that arise in
the Company’s ordinary course of
business)
Non-operating income and expense
1,121,536.84 7,165,844.61
other than the above
Less: Income tax effects 665,339.46 4,676,240.73
Non-controlling interests effects
10,479,157.89 39,350,092.50
(net of tax)
Total -4,079,881.53 -4,277,972.43 --
Other items that meet the definition of exceptional gain/loss:
□Applicable Not applicable
No such cases in the Reporting Period.
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item 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 in the Reporting Period.
(III) Changes in Key Financial Statement Line Items and Explanation of why
Applicable □ Not applicable
Unit: RMB
Q1~Q3 2022/ Q1~Q3 2021/
Item Change (%) Explanation of why
30 September 2022 1 January 2022
Redemption of wealth management
Held-for-trading
31,183,899.15 348,248,125.61 -91.05% products upon maturity in the current
financial assets
period
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2022
Increased prepayments to suppliers in the
Prepayments 57,740,128.94 33,474,104.32 72.49%
current period
Contract assets 5,668,421.11 8,561,303.10 -33.79% Recovery of accounts in the current period
Decrease in input VAT withheld for
Other current assets 59,527,381.88 125,675,148.17 -52.63% authentication and offsetting output VAT in
the current period
Changes in the fair value of investments in
Investments in other
868,654,629.65 1,504,980,024.07 -42.28% other equity instruments in the current
equity instruments
period
Long-term prepaid Increased molds for new products in the
198,830,364.03 152,726,512.56 30.19%
expense current period
The combination of NationStar
Optoelectronics, which was under common
Other non-current control with the Company, was completed
108,367,942.61 499,349,770.41 -78.30%
assets in the current period, and the prepayment
for equity transfer made in the same period
of last year was carried forward.
Repayment of some short-term borrowings
Short-term borrowings 100,115,000.00 226,779,997.01 -55.85%
in the current period
Changes in the fair value of forward forex
Held-for-trading
11,207,000.00 9,367.37 119538.70% settlement contracts as a result of currency
financial liabilities
fluctuations
Advances from
3,669,227.73 8,106,923.79 -54.74% Decrease in advances of rentals
customers
Decreased to-be-confirmed output tax in
Other current liabilities 7,066,719.06 10,577,082.29 -33.19%
the current period
New long-term borrowings in the current
Long-term borrowings 582,680,803.81 - N/A
period
Other non-current Decreased liabilities of subsidiary to be
12,731.24 22,653.46 -43.80%
liabilities liquidated and de-registered
Combination of NationStar Optoelectronics
Capital reserves 7,245,971.54 994,114,567.16 -99.27% under common control in the current
period
Retirement of inventory shares in the
Treasury stock 82,165,144.15 250,600,874.54 -67.21%
current period
Sale of some shares held in Gotion High-
Other comprehensive tech and Xiamen Bank and changes in the
502,927,614.92 982,972,358.89 -48.84%
income fair value of shares held in other listed
companies in the current period
Combination of NationStar Optoelectronics
under common control and retirement of
Surplus reserves 86,780,516.19 741,353,347.96 -88.29%
inventory shares in the current period,
resulting in a charge to surplus reserves
Acquisition of subsidiary Nanning
Liaowang not under common control in Q3
R&D expense 324,063,907.56 231,899,315.47 39.74% 2021, and increased R&D investments in
the current period with the expanded R&D
team and more R&D projects
Finance costs -34,299,371.69 -5,923,088.86 -479.08% Depreciation of RMB in the current period
Increased interest on borrowings in the
Interest expense 12,397,846.58 6,480,947.49 91.30%
current period
Increased dividend income from
investments in other equity instruments and
Return on investment 13,670,258.81 32,722,357.86 -58.22%
gains on forward forex settlement contracts
in the current period
Share of profit or loss Increase in net profits of associates
of joint ventures and 985,142.24 78,184.56 1160.02% attributable to owners of the Company as
associates the parent in the current period
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2022
Changes in the fair value of forward forex
Gain on changes in fair
-15,847,302.07 2,590,690.77 -711.70% settlement contracts as a result of the
value
depreciation of RMB
Credit impairment loss Increased allowance for expected credit
-13,144,044.00 -9,463,251.76 -38.90%
(“-” for loss) loss in the current period
Asset impairment loss Increased inventory valuation allowances
-46,002,651.36 -33,834,014.12 -35.97%
(“-” for loss) in the current period
More assets were disposed of and
Asset disposal income 283,064.85 36,004,773.16 -99.21%
liquidized in the same period of last year
Carryforwards of payables of subsidiary
Non-operating income 10,534,667.78 7,593,542.49 38.73% NationStar Optoelectronics that it does not
need to pay in the current period
Increase in losses on the retirement of fixed
Non-operating expense 7,371,647.57 4,088,530.59 80.30%
assets in the current period
Net profit attributable
Decreased profits of non-wholly-owned
to non-controlling 101,280,191.23 146,732,042.37 -30.98%
subsidiaries in the current period
interests
Differences arising
Increased differences arising from the
from the translation of
translation of the foreign currency-
foreign currency- 658,235.31 142,181.49 362.95%
denominated financial statements of
denominated financial
Indonesia Liaowang
statements
Other comprehensive
Increased other comprehensive income of
income, net of tax
378,520.91 209,523.04 80.66% non-wholly-owned subsidiaries in the
attributable to non-
current period
controlling interests
Decreased amount of changes in the fair
Total comprehensive
-56,716,347.59 61,876,567.35 -191.66% value of investments in other equity
income
instruments in the current period
Total comprehensive
Decreased amount of changes in the fair
income attributable to
-158,375,059.73 -85,064,998.06 -86.18% value of investments in other equity
owners of the
instruments in the current period
Company as the parent
Total comprehensive
income attributable to Decreased profits of non-wholly-owned
101,658,712.14 146,941,565.41 -30.82%
non-controlling subsidiaries in the current period
interests
Net cash generated
from/used in operating 544,288,075.20 439,002,014.50 23.98% Increased tax and levy rebates received in
activities the current period
More cash generated from investing
Net cash generated
activities in the same period of last year as
from/used in investing -56,689,738.38 973,514,806.12 -105.82%
a result of the sale of the Gotion High-tech
activities
shares
Payment for the acquisition of equity
Net cash generated interests in subsidiary NationStar
from/used in financing -828,830,856.22 -547,952,912.03 -51.26% Optoelectronics under common control,
activities and increased cash used in other financing
activities in the current period
Net increase in cash Decreased net cash generated from
-304,740,429.41 825,403,569.91 -136.92%
and cash equivalents financing activities in the current period
II Shareholder Information
(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well
as Holdings of Top 10 Shareholders
Unit: share
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2022
Number of preference shareholders with resumed
Number of ordinary shareholders 62,656 0
voting rights (if any)
Top 10 shareholders
Nature of Shareholdin Total shares Restricted Shares in pledge, marked or frozen
Name of shareholder
shareholder g percentage held shares held Status Shares
Hong Kong Wah
Foreign
Shing Holding 13.84% 188,496,430 In pledge 92,363,251
corporation
Company Limited
Prosperity Lamps & Foreign
10.79% 146,934,857
Components Limited corporation
Guangdong
Electronics State-owned
9.01% 122,694,246 In pledge 32,532,815
Information Industry corporation
Group Ltd.
Guangdong Rising
State-owned
Holdings Group Co., 6.10% 83,130,898
corporation
Ltd.
Essence International
Foreign
Securities (Hong 2.65% 36,138,459
corporation
Kong) Limited
Central Huijin Asset State-owned
2.43% 33,161,800
Management Co., Ltd. corporation
Rising Investment Foreign
1.87% 25,482,252
Development Limited corporation
China Construction
Bank Co., Ltd.-GF
Sci-tech Innovation Other 1.75% 23,866,078
Mixed Securities
Investment Fund
China Merchants
Foreign
Securities (HK) Co., 1.06% 14,479,007
corporation
Limited
Foreign
Zhuang Jianyi 0.87% 11,903,509 8,927,632
individual
Top 10 unrestricted shareholders
Shares by class
Name of shareholder Unrestricted ordinary shares held
Class Shares
RMB-
Hong Kong Wah Shing Holding
188,496,430 denominated 188,496,430
Company Limited
ordinary share
RMB-
Prosperity Lamps & Components
146,934,857 denominated 146,934,857
Limited
ordinary share
RMB-
Guangdong Electronics Information
122,694,246 denominated 122,694,246
Industry Group Ltd.
ordinary share
RMB-
Guangdong Rising Holdings Group
83,130,898 denominated 83,130,898
Co., Ltd. ordinary share
Essence International Securities (Hong Domestically
36,138,459 36,138,459
Kong) Limited listed foreign share
RMB-
Central Huijin Asset Management Co.,
33,161,800 denominated 33,161,800
Ltd.
ordinary share
Rising Investment Development Domestically
25,482,252 25,482,252
Limited listed foreign share
China Construction Bank Co., Ltd.-GF RMB-
Sci-tech Innovation Mixed Securities 23,866,078 denominated 23,866,078
Investment Fund ordinary share
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2022
China Merchants Securities (HK) Co., Domestically
14,479,007 14,479,007
Limited listed foreign share
RMB-
Zhang Shaowu 9,600,050 denominated 9,600,050
ordinary share
Among the top 10 shareholders, Hong Kong Wah Shing Holding
Company Limited, Guangdong Electronics Information Industry Group
Ltd., Guangdong Rising Holdings Group Co., Ltd. and Rising
Investment Development Limited are acting-in-concert parties;
Related or acting-in-concert parties among the
Prosperity Lamps & Components Limited and Zhuang Jianyi are
shareholders above
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.
Top 10 shareholders involved in securities margin
None
trading (if any)
(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them
□Applicable Not applicable
III Other Significant Events
Applicable □ Not applicable
1. Retirement of repurchased shares
The Company held the 26th Meeting of the Ninth Board of Directors on 14 January 2022, where the Proposal
on Retirement of Some Shares in the Company's Repurchase Special Securities Account was deliberated and
approved. The Board of Directors agreed to use the repurchased 13 million A shares for the equity incentive
plan. After deducting the 13 million A shares used for the equity incentive plan, the remaining 18,952,995
repurchased A shares and 18,398,512 repurchased B shares would be retired, totaling 37,351,507 shares. On 8
February 2022, the above-mentioned shares were retired, and the total share capital of the Company was
changed from 1,399,346,154 shares to 1,361,994,647 shares.
2. Expropriation of land and above-ground housing of Nanjing Fozhao
The Company held the 24th Meeting of the Ninth Board of Directors on 15 December 2021, where the Proposal
on Expropriation of Land and Above-ground Housing of the Wholly-owned Subsidiary Nanjing Fozhao
Lighting Equipment Manufacturing Co., Ltd., was deliberated and adopted. The Board of Directors agreed that
Nanjing Lishui District People's Government expropriates the land use rights and above-land housing of
7
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2022
Nanjing Fozhao Lighting Equipment Manufacturing Co., Ltd. (hereinafter referred to as "Nanjing Fozhao"), a
wholly-owned subsidiary of the Company, at a compensation amount of RMB183,855,895, and Nanjing Fozhao
signed an expropriation and compensation agreement with Lishui County House Dismantling, Moving &
Resettling Development Co., Ltd., the implementing unit of the housing expropriation. As of 30 September
2022, Nanjing Fozhao has received 30% of the compensation, that is, RMB55,160,000.00, and the land use
right certificate and house ownership certificate of the assets involved have been cancelled. As of the date of
this report, the site handover is still in progress. After the demolition is completed, Nanjing Fozhao will be
liquidated and de-registered.
3. Cancellation of FSL LIGHTING GmbH
On 22 October 2021, the Company held an office meeting of the general manager, where the proposal for
cancellation of its wholly-owned subsidiary FSL LIGHTING GmbH was deliberated and adopted. As of the end
of the Reporting Period, FSL LIGHTING GmbH is handling the relevant procedures for liquidation and
cancellation.
4. Acquisition of NationStar and Sigma
The Company has completed in February 2022 the major asset restructuring involving the acquisition of a 21.32%
stake held by Rising Group and its acting-in-concert parties in NationStar Optoelectronics. Upon the acquisition,
the Company eventually holds a 21.48% interest in NationStar. NationStar and Sigma have become majority-
owned subsidiaries of the Company.
IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by Foshan Electrical and Lighting Co., Ltd.
30 September 2022
Unit: RMB
Item 30 September 2022 1 January 2022
Current assets:
Monetary assets 2,137,285,739.59 2,381,911,655.35
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2022
Settlement reserve
Loans to other banks and financial
institutions
Held-for-trading financial assets 31,183,899.15 348,248,125.61
Derivative financial assets
Notes receivable 1,347,357,948.72 1,690,356,491.64
Accounts receivable 2,001,063,395.18 1,981,538,844.26
Receivables financing
Prepayments 57,740,128.94 33,474,104.32
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract reserve
Other receivables 35,814,995.83 37,523,072.02
Including: Interest receivable
Dividends receivable
Financial assets purchased under resale
agreements
Inventories 1,862,256,439.75 1,969,998,988.39
Contract assets 5,668,421.11 8,561,303.10
Assets held for sale 17,147,339.84 23,831,992.10
Current portion of non-current assets
Other current assets 59,527,381.88 125,675,148.17
Total current assets 7,555,045,689.99 8,601,119,724.96
Non-current assets:
Loans and advances to customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 180,449,874.83 181,545,123.09
Investments in other equity instruments 868,654,629.65 1,504,980,024.07
Other non-current financial assets
Investment property 41,573,970.88 43,347,824.34
Fixed assets 3,371,888,539.55 3,360,339,910.95
Construction in progress 1,091,421,373.62 1,087,261,052.63
Productive living assets
Oil and gas assets
Right-of-use assets 10,530,447.88 14,126,206.08
Intangible assets 362,449,642.62 368,954,162.34
Development costs
Goodwill 421,831,593.46 421,831,593.46
Long-term prepaid expense 198,830,364.03 152,726,512.56
Deferred income tax assets 79,107,906.67 82,261,788.58
Other non-current assets 108,367,942.61 499,349,770.41
Total non-current assets 6,735,106,285.80 7,716,723,968.51
Total assets 14,290,151,975.79 16,317,843,693.47
Current liabilities:
Short-term borrowings 100,115,000.00 226,779,997.01
Borrowings from the central bank
Loans from other banks and financial
institutions
Held-for-trading financial liabilities 11,207,000.00 9,367.37
Derivative financial liabilities
Notes payable 1,717,566,146.98 2,067,111,789.71
Accounts payable 2,188,080,664.24 2,429,896,658.92
Advances from customers 3,669,227.73 8,106,923.79
Contract liabilities 157,588,269.86 140,228,127.84
Financial assets sold under repurchase
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2022
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 152,420,891.65 167,784,089.64
Taxes and levies payable 69,839,659.98 90,981,474.60
Other payables 287,395,726.21 333,128,771.81
Including: Interest payable
Dividends payable 15,646.07 15,646.07
Fees and commissions payable
Reinsurance payables
Liabilities directly associated with
assets held for sale
Current portion of non-current
24,512,143.42 27,600,186.15
liabilities
Other current liabilities 7,066,719.06 10,577,082.29
Total current liabilities 4,719,461,449.13 5,502,204,469.13
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 582,680,803.81
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities 6,693,924.84 8,065,560.58
Long-term payables
Long-term employee benefits payable
Provisions 12,421,658.34 17,418,343.01
Deferred income 99,249,024.50 116,761,570.35
Deferred income tax liabilities 209,430,869.21 280,172,789.59
Other non-current liabilities 12,731.24 22,653.46
Total non-current liabilities 910,489,011.94 422,440,916.99
Total liabilities 5,629,950,461.07 5,924,645,386.12
Owners’ equity:
Share capital 1,361,994,647.00 1,399,346,154.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 7,245,971.54 994,114,567.16
Less: Treasury stock 82,165,144.15 250,600,874.54
Other comprehensive income 502,927,614.92 982,972,358.89
Specific reserve
Surplus reserves 86,780,516.19 741,353,347.96
General reserve
Retained earnings 3,306,087,642.79 3,119,317,423.25
Total equity attributable to owners of the
5,182,871,248.29 6,986,502,976.72
Company as the parent
Non-controlling interests 3,477,330,266.43 3,406,695,330.63
Total owners’ equity 8,660,201,514.72 10,393,198,307.35
Total liabilities and owners’ equity 14,290,151,975.79 16,317,843,693.47
Legal representative: Wu Shenghui Chief Financial Officer: Tang Qionglan
Person-in-charge of the Company’s accounting organ: Liang Yuefei
2. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2022 Q1~Q3 2021
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2022
1. Revenues 6,409,681,360.22 6,015,002,303.03
Including: Operating revenue 6,409,681,360.22 6,015,002,303.03
Interest income
Insurance premium income
Fee and commission
income
2. Costs and expenses 6,036,293,919.57 5,670,808,399.34
Including: Cost of sales 5,268,102,558.49 5,032,048,114.15
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 39,068,966.75 48,389,387.74
Selling expense 160,803,077.83 143,631,792.54
Administrative expense 278,554,780.63 220,762,878.30
R&D expense 324,063,907.56 231,899,315.47
Finance costs -34,299,371.69 -5,923,088.86
Including: Interest 12,397,846.58 6,480,947.49
expense
Interest income 19,062,005.88 18,021,856.39
Add: Other income 54,824,426.95 46,893,761.05
Return on investment (“-” for loss) 13,670,258.81 32,722,357.86
Including: Share of profit or loss 985,142.24 78,184.56
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 (“-” -15,847,302.07 2,590,690.77
for loss)
Credit impairment loss (“-” for -13,144,044.00 -9,463,251.76
loss)
Asset impairment loss (“-” for -46,002,651.36 -33,834,014.12
loss)
Asset disposal income (“-” for 283,064.85 36,004,773.16
loss)
3. Operating profit (“-” for loss) 367,171,193.83 419,108,220.65
Add: Non-operating income 10,534,667.78 7,593,542.49
Less: Non-operating expense 7,371,647.57 4,088,530.59
4. Gross profit (“-” for loss) 370,334,214.04 422,613,232.55
Less: Income tax expense 48,301,562.77 58,471,552.88
5. Net profit (“-” for net loss) 322,032,651.27 364,141,679.67
5.1 By operating continuity
5.1.1 Net profit from continuing 322,032,651.27 364,141,679.67
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 220,752,460.04 217,409,637.30
shareholders of the Company as the
parent (“-” for net loss)
5.2.1 Net profit attributable to non- 101,280,191.23 146,732,042.37
controlling interests (“-” for net loss)
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2022
6. Other comprehensive income, net of -378,748,998.86 -302,265,112.32
tax
Attributable to owners of the -379,127,519.77 -302,474,635.36
Company as the parent
6.1 Items that will not be -379,785,755.08 -302,616,816.85
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 -379,785,755.08 -302,616,816.85
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 658,235.31 142,181.49
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 658,235.31 142,181.49
translation of foreign currency-
denominated financial statements
6.2.7 Other
Attributable to non-controlling 378,520.91 209,523.04
interests
7. Total comprehensive income -56,716,347.59 61,876,567.35
7.1 Attributable to owners of the -158,375,059.73 -85,064,998.06
Company as the parent
7.2 Attributable to non-controlling 101,658,712.14 146,941,565.41
interests
8. Earnings per share
8.1 Basic earnings per share 0.1636 0.1612
8.2 Diluted earnings per share 0.1621 0.1596
Where business combinations under common control occurred in the current period, the net profit achieved by
the acquirees before the combinations was RMB9,568,639.83, with the amount for the same period of last year
being RMB176,355,795.71.
Legal representative: Wu Shenghui Chief Financial Officer: Tang Qionglan
Person-in-charge of the Company’s accounting organ: Liang Yuefei
3. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2022 Q1~Q3 2021
1. Cash flows from operating activities:
Proceeds from sale of commodities 6,056,724,574.00 6,040,186,380.96
and rendering of services
Net increase in customer deposits and
deposits from other banks and financial
institutions
12
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2022
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 185,461,999.13 114,057,312.91
Cash generated from other operating 159,499,633.65 218,679,801.88
activities
Subtotal of cash generated from 6,401,686,206.78 6,372,923,495.75
operating activities
Payments for commodities and services 4,329,686,928.50 4,387,640,953.37
Net increase in loans and advances to
customers
Net increase in deposits in the central
bank and other banks and financial
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 1,016,973,760.65 945,074,849.27
Taxes and levies paid 261,864,524.95 260,893,091.09
Cash used in other operating activities 248,872,917.48 340,312,587.52
Subtotal of cash used in operating 5,857,398,131.58 5,933,921,481.25
activities
Net cash generated from/used in 544,288,075.20 439,002,014.50
operating activities
2. Cash flows from investing activities:
Proceeds from disinvestment 534,902,240.66 690,576,144.98
Return on investment 15,331,293.58 1,028,502,794.21
Net proceeds from the disposal of fixed 1,524,973.60 10,764,267.40
assets, intangible assets and other 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 551,758,507.84 1,729,843,206.59
investing activities
Payments for the acquisition of fixed 482,988,582.91 430,741,889.34
assets, intangible assets and other long-
lived assets
Payments for investments 125,459,663.31 325,586,511.13
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 608,448,246.22 756,328,400.47
activities
Net cash generated from/used in -56,689,738.38 973,514,806.12
investing activities
13
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2022
3. Cash flows from financing activities:
Capital contributions received
Including: Capital contributions by
non-controlling interests to subsidiaries
Borrowings received 724,436,000.00
Cash generated from other financing 5,506,572.70 47,330,746.17
activities
Subtotal of cash generated from 729,942,572.70 47,330,746.17
financing activities
Repayment of borrowings 315,366,200.00 147,457,301.21
Interest and dividends paid 162,323,579.94 176,704,640.21
Including: Dividends paid by 24,282,863.70 29,204,491.92
subsidiaries to non-controlling interests
Cash used in other financing activities 1,081,083,648.98 271,121,716.78
Subtotal of cash used in financing 1,558,773,428.92 595,283,658.20
activities
Net cash generated from/used in -828,830,856.22 -547,952,912.03
financing activities
4. Effect of foreign exchange rates 36,492,089.99 -39,160,338.68
changes on cash and cash equivalents
5. Net increase in cash and cash -304,740,429.41 825,403,569.91
equivalents
Add: Cash and cash equivalents, 1,886,894,463.37 1,401,525,288.07
beginning of the period
6. Cash and cash equivalents, end of the 1,582,154,033.96 2,226,928,857.98
period
Legal representative: Wu Shenghui Chief Financial Officer: Tang Qionglan
Person-in-charge of the Company’s accounting organ: Liang Yuefei
(II) 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.
Foshan Electrical and Lighting Co., Ltd.
Legal representative: Wu Shenghui
27 October 2022
14
