The First Quarterly Report for 2010 of Foshan Electrical and Lighting Co., Ltd.
1
Foshan Electrical and Lighting Co., Ltd
The First Quarterly Report for 2010
§1 Important Notice
1.1 The Board of Directors, the Supervisory Committee as well as directors, supervisors and senior
management staffs of Foshan Electrical and Lighting Co., Ltd. (hereinafter referred to as “the
Company”) individually and jointly accepted responsibility for the correctness, accuracy and
completeness of the contents of this report and confirmed that there was no false information,
misleading statement or material omissions.
1.2 None of the directors demonstrated uncertainty or disagreement about the truthfulness, accuracy,
and completeness of this quarterly report.
1.3 All directors attended the Board meeting.
1.4 The first quarterly financial report has not been audited by Accounting Firm.
1.5 Zhong Xincai, Chairman of the Board and concurrently person in charge of accounting affairs,
and Ms. Wang Shuqiong, the Manager of the Financial Department, hereby confirmed that the
Financial Report enclosed in the quarterly report is true and complete
§2 Company Profile
2.1 Main accounting data and financial indices
Unit: RMB Yuan
At the end of the reporting
period At the end of last year Increase/decrease (%)
Total assets (RMB Yuan) 3,031,670,864.33 2,995,100,164.41 0.75%
Owner’s equity attributable to shareholders of
listed company (RMB Yuan) 2,687,755,143.63 2,660,099,988.21 1.04%
Share capital (Share) 978,563,745.00 978,563,745.00 0.00%
Net asset per share attributable to shareholders of
listed company (RMB Yuan/share) 2.75 2.72 1.04%
Reporting period Same period of last year Increase/decrease (%)
Sales turnover (RMB Yuan) 374,418,879.89 374,846,671.69 -0.11%
Net profit attributable to shareholders of listed
company (RMB Yuan) 27,655,122.03 40,265,095.01 -31.32%
Net cash flow arising from operating activities
(RMB Yuan) 35,422,624.91 164,094,856.81 -78.41%
Net cash flow per share arising from operating
activities (RMB Yuan/share) 0.04 0.17 -78.41%
Basic earnings per share (RMB Yuan/share) 0.03 0.04 -31.32%
Diluted earnings per share (RMB Yuan/share) 0.03 0.04 -31.32%
Weighted average return on equity (%) 0.01% 0.02% -32.02%
Weighted average return on equity after
deducting extraordinary gains and losses (%) 0.01% 0.02% -34.38%The First Quarterly Report for 2010 of Foshan Electrical and Lighting Co., Ltd.
2
Items of extraordinary gains and losses Amount from 1 Jan. to 31
Mar. 2010
Gains on disposal of non-current assets including reversal of the impairment loss -1,334.02
Ultra vires approval, with or without formal approval documents, or occasional tax return, relief
Government grant recognized in current year, except for those acquired in the ordinary course of
business or granted continuously in certain standard quota according to relevant national laws and
regulations
559,516.22
Included in current profit and loss against the non-financial enterprises occupation fee funds collected
The investment cost of subsidiaries obtained by the enterprise, joint ventures and partnership enterprise
is less than the revenues generated from the fair value of identifiable net assets of the unvested units
Exchange gains and losses of non-monetary assets
Gains and loss through entrust others to invest or manage assets
Gains and loss for the provision of impairment of assets due to force majeure factors, such as victims of
natural disaster
Debt restructuring gains and losses
Company restructuring expenses such as employee placement and integration costs
Significant loss of fair trading price over the fair value of transactions generated part of the profit and
loss
Current net profit or loss from the beginning to the date of merge for the subsidiary resulted from the
merge of the enterprise under the control of the same company.
Profit or loss generated from the matters which is not related to the Company’s normal operation or
contingency
In addition to the normal operations associated with the company effective hedging business, holders of
tradable financial assets, trading financial liabilities resulting from changes in fair value gains and
losses, as well as the disposal of trading financial assets, trading financial liabilities and financial assets
available for sale achieved an investment return
141,819.06
Separately tested for impairment of receivables impairment reversal
Entrusted to the profit and loss made foreign loans
Fair value model with subsequent measurement of investment real estate gains and losses arising from
changes in fair value
According to tax, accounting and other laws and regulations require a one-time adjustment of current
profit and loss impact on the current profit and loss
Entrusting fee incomes from entrust operation
Other non-operating income and expense other than abovementioned 35,632.70
Other non-recurring gains and losses in line with the definition of profit and loss items -1,229.55
Influence amount of minority interest
Influence amount of income tax -99,550.17
Total 634,854.24
Explanation on important items of extraordinary gains and losses:
2.2 Statement on total number of shareholders and shares held by the top ten shareholders not
subject to trading moratorium
Unit: share
Total number of shareholders 113,257
Shares held by the top ten shareholders not subject to trading moratorium
Full name of shareholders Shares not subject to trading moratorium
held at the period-end Type of share
Prosperity Lamps & Components Limited 102,751,648 RMB common shares
DBS VICKERS (HONG KONG) LTD A/C
CLIENTS 12,215,048 Domestically listed foreign share
Hai Tong Securities (HK) Brokerage Ltd 10,576,390 Domestically listed foreign shareThe First Quarterly Report for 2010 of Foshan Electrical and Lighting Co., Ltd.
3
Industrial and Commercial Bank of China-GF
Sustaining Growth Fund 10,499,948 RMB common shares
China Construction Bank-China Selected Stock
Fund 10,200,556 RMB common shares
Bank of China-E Fund Shenzhen Stock 100
Exchange Trade Fund 9,706,141 RMB common shares
EAST ASIA SECURITIES COMPANY
LIMITED 9,527,080 Domestically listed foreign share
Bank of China-First-Trust Goodquality Life
Stock Fund 8,075,170 RMB common shares
Industrial and Commercial Bank of
China-Rongtong Securities SZSE 100 Index
Investment Fund
6,358,080 RMB common shares
China Everbright Bank Company Limited －
First-Trust Leading Stategy Fund Open-ended
Fund
6,058,564 RMB common shares
§3 Significant Events
3.1 Significant changes in major accounting data, financial highlights and reasons for these changes.
√Applicable □Non-applicable
1. Advances to suppliers increased by 330.56% over the beginning of the year, which was because
of payment for purchase paid by the Company according to the contract of long-term supply to
obtain favorable price from suppliers;
2. Accounts payable increased by 33.30% over the beginning of the year, which was caused by the
increase in accounts payable for materials;
3. Advances from customers decreased by 49.70% over the beginning of the year, which was
because that the Company, in the reporting period, settled payment for goods advances received
in the previous period and then returned the balance to customers.
4. Other payables decreased by 36.41% over the beginning of the year, which was due to decrease
in margin money of suppliers;
5. Sale expense increased by 40.97% year-on-year, which was because of increasing promotion and
general publicity expenses of products;
6. Financial expense increased by 79.81% year-on-year, which was due to increase of interests;
7. Non-operating income decreased by 93.63% year-on-year, which was because of gains on
disposal of non-current assets at the same period of last year;
8. Non-operating expense decreased by 96.07% year-on-year, which was because of cost on
disposal of non-current assets at the same period of last year;
9. Net cash flow arising from operating activities decreased by 78.41% year-on-year, which was
caused by the increase of cash paid relating to operating activities in this reporting period;
10. Net increase in cash and cash equivalents decreased by 119.34% year-on-year, which was caused
by the decrease of net cash flow arising from operating activities in this reporting period;
3.2 Process of significant events and influence, as well as analysis and explanation on resolving
proposal
□Applicable √Inapplicable
3.3 Special commitments made by the company, shareholders and actual controllers
√Applicable □InapplicableThe First Quarterly Report for 2010 of Foshan Electrical and Lighting Co., Ltd.
4
Commitment Commitment maker Contents of the commitment Execution
Commitment concerning share
merger reform
OSRAM Holding
Company Limited
Name of shareholder: OSRAM Holding
Company Limited
Special commitment: No listing and transfer
may be taken within 60 months as of the date
when the shares of the Company held by this
company obtain the trading right [i] or before
Dec. 31, 2011 [ii] (taking the earlier date
between [i] and [ii]). OSRAM would submit
Shenzhen Stock Exchange to lock up the said
shares in the course of the moratorium of trading
right of the aforesaid shares after transfer of the
shares.
2. Germany OSRAM Company would purchase
the lamp products from FSL in accordance with
the clauses of the Purchase Contract on Lamp
Products signed between Germany OSRAM
Company and FSL on Aug. 31, 2004.
3. As required by FSL, OSRAM should urge
Germany OSRAM Company to provide the
relevant technology abidance and skill to FSL in
accordance with the clauses and conditions
negotiated between FSL and Germany OSRAM
Company.
In progress of
implementation
Commitment concerning share
trading moratorium N/A N/A N/A
Commitments made in a purchase
report or a report on changes of
owners’ equity
N/A N/A N/A
Commitments made in material
asset reorganization N/A N/A N/A
Commitments made when issuing N/A N/A N/A
Other commitments (including
supplementary ones) N/A N/A N/A
3.4 Warnings of possible loss or large-margin change of the accumulated net profit made during the
period from the beginning of the year to the end of the next report period compared with the same
period of the last year according to prediction, as well as explanations on the reasons
□Applicable √Inapplicable
3.5 Other significant events need to be explained
3.5.1 Securities investment
√Applicable □Inapplicable
Unit: RMB Yuan
No. Stock
variety Stock code Short form of
Stock
Initial
investment
Shares held at
the
period-end
Book value at the
period-end
Proportion to
total
securities
investment at
period-end
(%)
Profits and losses
in reporting
period
1 Stock 002383 UniStrong Science
&Technology 18,500.00 500.00 18,500.00 51.39%
2 Stock 002382 Blue Sail 17,500.00 500.00 17,500.00 48.61%
Other securities investment at the end of period -
Investment gains/(losses) arising from sale of
securities - - - - 141,819.06
Total - 100%The First Quarterly Report for 2010 of Foshan Electrical and Lighting Co., Ltd.
5
Explanation on securities investment
The above-mentioned stocks are those shares that the Company subscribed and won the lot for IPO,
but not sell out.
3.5.2 Reception of research, interviews and visits in the reporting period
Reception time Reception place Reception way Reception object Major discussion content and the
information provided by the Company
13 Jan. 2010 The Company Field research Golden Eagle Asset
Management Co., Ltd
To know production and operation of the
Company
13 Jan. 2010 The Company Field research GF Securities To know production and operation of the
Company
13 Jan. 2010 The Company Field research New China Assets To know production and operation of the
Company
14 Jan. 2010 The Company Field research Everbright Securities To know production and operation of the
Company
22 Jan. 2010 The Company Field research Union Bank of
Switzerland
To know production and operation of the
Company
5 Mar. 2010 The Company Field research Guosen Securities To know production and operation of the
Company
5 Mar. 2010 The Company Field research Rising Securities To know production and operation of the
Company
5 Mar. 2010 The Company Field research Yinhua Fund
Management Co., Ltd.
To know production and operation of the
Company
17 Mar. 2010 The Company Field research Xiangcai Securities To know production and operation of the
Company
17 Mar. 2010 The Company Field research Ping’an Asset
Management Co., Ltd.
To know production and operation of the
Company
18 Mar. 2010 The Company Field research CITIC Securities To know production and operation of the
Company
18 Mar. 2010 The Company Field research China Southern Fund To know production and operation of the
Company
18 Mar. 2010 The Company Field research Boshi Fund Management
Co., Ltd.
To know production and operation of the
Company
19 Mar. 2010 The Company Field research Everbright Securities To know production and operation of the
Company
30 Mar. 2010 The Company Field research CINDA Securities To know production and operation of the
Company
31 Mar. 2010 The Company Field research SYWG Securities To know production and operation of the
Company
31 Mar. 2010 The Company Field research Guotai AMC To know production and operation of the
Company
31 Mar. 2010 The Company Field research AEGON-Industrial Fund
Management Co., Ltd.
To know production and operation of the
Company
31 Mar. 2010 The Company Field research Guoyuan Securities Co.,
Ltd.
To know production and operation of the
Company
31 Mar. 2010 The Company Field research GF Fund To know production and operation of the
Company
31 Mar. 2010 The Company Field research Rongtong Fund
Management Co., Ltd.
To know production and operation of the
Company
31 Mar. 2010 The Company Field research Dacheng Fund
Management Co., Ltd.
To know production and operation of the
Company
31 Mar. 2010 The Company Field research Zhonghai Fund
Management Co., Ltd.
To know production and operation of the
CompanyThe First Quarterly Report for 2010 of Foshan Electrical and Lighting Co., Ltd.
6
31 Mar. 2010 The Company Field research Harvest Fund
Management Co., Ltd.
To know production and operation of the
Company
3.5.3 Explanation on other significant events
□Applicable √Inapplicable
3.6 Derivative Investment
□Applicable √Inapplicable
3.6.1 Derivatives held as at the end of the report period
□Applicable √Inapplicable
§4 Attachment
4.1 Balance sheet
Prepared by Foshan Electrical and Lighting Co., Ltd. 31 Mar. 2010 Unit: RMB Yuan
Closing balance Opening balance
Item
Consolidation Parent company Consolidation Parent company
Current assets:
Monetary funds 1,014,665,749.11 907,317,342.81 1,036,582,265.88 927,931,735.27
Settlement fund reserve
Dismantle fund
Transaction financial asset 36,000.00 36,000.00 121,570.00 121,570.00
Notes receivable 46,796,962.48 47,623,242.73 54,093,298.72 51,333,256.72
Account receivable 300,366,040.53 294,218,947.21 284,367,231.84 304,213,230.54
Account paid in advance 67,145,693.46 67,039,378.46 15,594,986.51 11,992,075.44
Premium receivables
Receivables from reinsurers
Reinsurance contract reserve
receivables
Interest receivable
Dividend receivable
Other account receivable 14,392,105.36 52,807,346.93 12,842,598.07 46,329,398.39
Financial assets purchased under
agreements to resell
Inventories 248,206,597.00 208,334,969.76 234,240,250.37 202,292,392.67
Non-current assets due within 1
year
Other current assets
Total current assets 1,691,609,147.94 1,577,377,227.90 1,637,842,201.39 1,544,213,659.03
Non-current assets:
Loans and advance
Available for sale financial assets
Held to maturity investments
Long-term account receivable
Long-term equity investment 254,124,296.23 385,904,686.07 254,124,296.23 385,904,686.07
Investing property
Fixed asset 639,524,715.83 580,812,333.55 667,218,994.19 605,693,295.95
Project in construction 196,772,381.46 135,939,701.18 184,971,615.68 128,488,231.78
Engineering materialThe First Quarterly Report for 2010 of Foshan Electrical and Lighting Co., Ltd.
7
Fixed asset disposal
Bearer biological asset
Oil assets
Intangible assets 226,804,795.20 208,789,950.10 228,064,300.35 209,996,698.18
Development expense
Goodwill
Long-term expense to be
apportioned
Deferred income tax assets 22,835,527.67 22,376,414.06 22,878,756.57 22,419,642.96
Other non-current assets
Total of non-current assets 1,340,061,716.39 1,333,823,084.96 1,357,257,963.02 1,352,502,554.94
Total assets 3,031,670,864.33 2,911,200,312.86 2,995,100,164.41 2,896,716,213.97
Current liabilities:
Short-term borrowings
Borrowings from Central Bank
Deposits and due to banks and
other financial institutions
Borrowings from banks and other
financial institutions
Transactional financial liabilities
Notes payable
Accounts payable 187,611,534.27 132,976,136.35 140,739,081.85 120,577,073.98
Accounts received in advance 15,835,314.18 14,653,525.05 31,482,851.09 29,945,697.96
Financial assets sold under
agreements to repurchase
Handling charges and
commissions payable
Employee’s compensation
payable 38,731,204.70 38,693,877.53 48,390,789.12 46,769,031.39
Taxes and fares payable 20,652,717.76 20,487,347.59 22,246,390.83 21,042,745.31
Interest payable
Dividend payable 2,600,000.00
Other accounts payable 23,140,343.26 22,333,590.11 36,391,801.59 26,152,530.24
Due to reinsurers
Insurance contract reserve
Amount payable for acting
trading securities
Amount payable for acting
underwriting securities
Non-current liabilities due within
1 year
Other current liabilities
Total current liabilities 288,571,114.17 229,144,476.63 279,250,914.48 244,487,078.88
Non-current liabilities:
Long-term borrowings
Debentures payable
Long-term payables
Specific-purpose account
payablesThe First Quarterly Report for 2010 of Foshan Electrical and Lighting Co., Ltd.
8
Accrued liabilities
Deferred income tax liabilities
Other non-current liabilities 11,263,551.96 10,633,949.94 9,852,274.95 9,852,274.95
Total non-current liabilities 11,263,551.96 10,633,949.94 9,852,274.95 9,852,274.95
Total liabilities 299,834,666.13 239,778,426.57 289,103,189.43 254,339,353.83
Shareholders’ equity
Share capital 978,563,745.00 978,563,745.00 978,563,745.00 978,563,745.00
Capital surplus 586,925,987.92 586,971,473.49 586,925,954.53 586,971,440.10
Less: Treasury Stock
Special reserve
Surplus reserve 528,474,746.92 528,474,746.92 526,651,752.67 526,651,752.67
General risk provision
Retained earnings 593,790,663.79 577,411,920.88 567,958,536.01 550,189,922.37
Foreign exchange difference
Total owners' equity attributable to
holding company 2,687,755,143.63 2,660,099,988.21 2,642,376,860.14
Minority interests 44,081,054.57 45,896,986.77
Total owners’ equity 2,731,836,198.20 2,671,421,886.29 2,705,996,974.98 2,642,376,860.14
Total liabilities and owners’ equity 3,031,670,864.33 2,911,200,312.86 2,995,100,164.41 2,896,716,213.97
Person in charge of the Company: Zhong Xincai
Person in charge of accounting affairs: Zhong Xincai
Person in charge of accounting firm: Wang Shuqiong
4.2 Income Statement
Prepared by Foshan Electrical and Lighting Co., Ltd. Jan.- Mar. 2010 Unit: RMB Yuan
Jan. – Mar. 2010 Jan. – Mar. 2009
Items
Consolidation Parent company Consolidation Parent company
I. Total operating revenue 374,418,879.89 334,977,837.25 374,846,671.69 380,113,499.98
Including: Sales 374,418,879.89 334,977,837.25 374,846,671.69 380,113,499.98
Interest income
Premium income
Handling charges and
commission income
II. Total operating cost 341,193,265.20 303,086,422.41 325,753,834.12 333,613,131.07
Including: Cost of sales 297,304,591.29 264,045,446.28 290,549,585.43 302,442,374.45
Interest expenses
Handling charges and
commission expenses
Cash surrender value
Net amount of claims
Net provision for
insurance contract reserve
Expenditure on policy
dividends
Reinsurance premium
Taxes and associate
charges 2,893,659.13 2,371,688.07 3,270,572.72 2,989,327.58
Selling and distribution 20,876,610.08 18,653,059.72 14,809,401.59 13,361,954.22The First Quarterly Report for 2010 of Foshan Electrical and Lighting Co., Ltd.
9
expenses
Administrative expenses 21,930,134.98 19,750,303.00 18,261,774.47 15,888,899.74
Financial expenses -2,045,368.13 -1,734,074.66 -1,137,500.09 -1,069,424.92
Asset impairment loss 233,637.85
Add: Gain/(loss) from change in
fair value (“-” means loss)
Gain/(loss) from investment
(“-” means loss) 141,819.06 1,891,819.06
Including: income form
investment on affiliated
enterprises and jointly-run
enterprises
Foreign exchange difference (“-”
means loss)
III. Business profit (“-” means
loss) 33,367,433.75 33,783,233.90 49,092,837.57 46,500,368.91
Add: non-operation income 713,165.90 700,179.70 11,202,781.84 335,702.01
Less: non-business expense 186,541.53 186,541.53 4,743,996.53 473,944.53
Including: loss from non-current
asset disposal
IV. Total profit (“-” means loss) 33,894,058.12 34,296,872.07 55,551,622.88 46,362,126.39
Less: Income tax expense 6,566,268.29 5,251,879.31 9,452,838.98 6,609,320.96
V. Net profit (“-” means loss) 27,327,789.83 29,044,992.76 46,098,783.90 39,752,805.43
Attributable to parent
company 27,655,122.03 29,044,992.76 40,265,095.01 39,752,805.43
Minority interests -327,332.20 5,833,688.89
VI. Earnings per share
(I) basic earnings per share 0.03 0.04
(II) diluted earnings per
share 0.03 0.04
Ⅶ. Other comprehensive income
Ⅷ. Total comprehensive income 27,327,789.83 29,044,992.76 46,098,783.90 39,752,805.43
Attributable to owners of parent
company 27,655,122.03 29,044,992.76 40,265,095.01 39,752,805.43
Attributable to minority
shareholders -327,332.20 5,833,688.89
Person in charge of the Company: Zhong Xincai
Person in charge of accounting affairs: Zhong Xincai
Person in charge of accounting firm: Wang Shuqiong
4.3 Cash Flow Statement
Prepared by Foshan Electrical and Lighting Co., Ltd. Jan. - Mar. 2010 Unit: RMB Yuan
Jan. – Mar. 2010 Jan. – Mar. 2009
Items
Consolidation Parent company Consolidation Parent company
I. Cash flows from operating activities:
Cash received from sale of commodities
and rendering of service 402,283,908.13 358,173,412.72 399,761,356.80 391,364,642.82
Net increase of deposits from customers
and dues from banks
Net increase of loans from the centralThe First Quarterly Report for 2010 of Foshan Electrical and Lighting Co., Ltd.
10
bank
Net increase of funds borrowed from
other financial institutions
Cash received from premium of original
insurance contracts
Net cash received from reinsurance
business
Net increase of savings of policy holders
and investment fund
Net increase of disposal of tradable
financial assets
Cash received from interest, handling
charges and commissions
Net increase of borrowings from banks
and other financial institutions
Net increase of buy-back funds
Tax refunds received 5,372,993.03 5,102,993.03 6,975,105.24 6,975,105.24
Other cash received relating to operating
activities 7,922,307.54 7,516,195.58 22,316,528.57 21,561,106.45
Subtotal of cash inflows from operating
activities 415,579,208.70 370,792,601.33 429,052,990.61 419,900,854.51
Cash paid for goods and services 271,452,808.90 245,955,010.27 173,323,883.09 180,397,064.88
Net increase of customer lending and
advance
Net increase of funds deposited in the
central bank and amount due from banks
Cash for paying claims of the original
insurance contract
Cash for paying interest, handling
charges and commissions
Cash for paying policy dividends
Cash paid to and for employees 58,132,210.19 54,966,738.96 41,254,414.07 35,546,605.07
Various taxes paid 22,522,813.01 15,599,094.92 21,406,777.35 18,496,656.56
Other payment of cash relating to
operating activities 28,048,751.69 24,511,449.69 28,973,059.29 30,221,164.29
Subtotal of cash outflows from operating
activities 380,156,583.79 341,032,293.84 264,958,133.80 264,661,490.80
Net cash flows from operating activities 35,422,624.91 29,760,307.49 164,094,856.81 155,239,363.71
II. Cash Flows from investment activities:
Cash received from withdrawing
investments 1,121,575.00 1,121,575.00
Cash received from investment income 141,819.06 1,891,819.06 1,376,373.53
Net cash received from disposal of fixed
assets, intangible assets and other long-term
assets
Net cash received from disposal of
subsidiary or other operating business units
Other cash received relating to
investment activities
Subtotal of cash inflows from
investment activities 1,263,394.06 3,013,394.06 1,376,373.53
Cash paid to acquire fixed assets,
intangible assets and other long-term assets 56,819,478.19 52,217,036.46 31,772,954.56 35,134,253.82The First Quarterly Report for 2010 of Foshan Electrical and Lighting Co., Ltd.
11
Cash paid for investment 1,036,005.00 1,036,005.00 17,574,789.08 17,574,789.08
Net increase of pledged loans
Net cash paid to acquire subsidiaries and
other operating units
Payment of cash relating to other
investment activities
Subtotal of cash outflows from investment
activities 57,855,483.19 53,253,041.46 49,347,743.64 52,709,042.90
Net cash flows from investment activities -56,592,089.13 -50,239,647.40 -49,347,743.64 -51,332,669.37
III. Cash Flows from Financing Activities:
Cash received from absorbing
investment
Including: Cash received by
subsidiaries from increase in minority
interests
Cash received from borrowings
Cash received from issuance of bonds
Other cash received relating to
financing activities
Subtotal of cash inflows from financing
activities
Cash repayments of amounts borrowed
Cash paid for interest expenses and
distribution of dividends or profit 612,000.00 91,758.24
Including: dividends or profit paid by
subsidiaries to minority shareholders 612,000.00 91,758.24
Other cash payments relating to
financing activities
Sub-total of cash outflows from financing
activities 612,000.00 91,758.24
Net cash flows from financing activities -612,000.00 -91,758.24
IV. Effect of foreign exchange rate changes
on cash and cash equivalents -135,052.55 -135,052.55 -1,305,145.33 -1,305,145.33
V. Increase in cash and cash equivalents -21,916,516.77 -20,614,392.46 113,350,209.60 102,601,549.01
Add : Cash and cash equivalents at
year-begin 1,036,582,265.88 927,931,735.27 927,868,735.28 886,298,530.33
VI. Cash and cash equivalents at the end of
the year 1,014,665,749.11 907,317,342.81 1,041,218,944.88 988,900,079.34
Person in charge of the Company: Zhong Xincai
Person in charge of accounting affairs: Zhong Xincai
Person in charge of accounting firm: Wang Shuqiong
4.4 Auditor’s report
Auditor’s opinion: un-audited
Board of Directors of
Foshan Electrical and Lighting Co., Ltd.
27 Apr. 2010
