Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2023
Stock Code: 000541, 200541 Stock Name: FSL, FSL-B Announcement No. 2023-035
FOSHAN ELECTRICAL AND LIGHTING CO., LTD.
FIRST QUARTERLY REPORT 2023
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
4.This Report has been prepared in both Chinese and English. Should there be any discrepancies or
misunderstandings between the two versions, the Chinese version shall prevail.
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Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2023
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
□ Changes of accounting policies □ Correction of accounting errors Business combination under the same
control □ Other reasons
Q1 2022 YoY change (%)
Q1 2023
Before Restated Restated
Operating revenue
2,193,613,606.54 2,007,637,120.85 2,049,503,975.00 7.03%
(RMB)
Net profit attributable
to the listed company’s 66,221,546.43 61,365,477.84 62,311,074.56 6.28%
shareholders (RMB)
Net profit attributable
to the listed company’s
shareholders before 59,526,020.95 55,625,535.40 55,624,370.41 7.01%
exceptional gains and
losses (RMB)
Net cash generated
from/used in operating 74,718,240.10 -66,973,529.90 -54,833,636.58 236.26%
activities (RMB)
Basic earnings per
0.0491 0.0455 0.0462 6.28%
share (RMB/share)
Diluted earnings per
0.0486 0.0451 0.0457 6.35%
share (RMB/share)
Weighted average
1.27% 0.96% 0.97% 0.30%
return on equity (%)
31 December 2022 Change (%)
31 March 2023
Before Restated Restated
Total assets (RMB) 15,149,537,639.20 15,287,061,119.70 15,287,061,119.70 -0.90%
Equity attributable to
the listed company’s 5,237,745,216.74 5,173,066,095.76 5,173,066,095.76 1.25%
shareholders (RMB)
(II) Exceptional Gains and Losses
Applicable □ Not applicable
Unit: RMB
Item Q1 2023 Note
Gain or loss on disposal of non-current
assets (inclusive of impairment -160,436.55
allowance write-offs)
Government grants through profit or loss
(exclusive of government grants given in
the Company’s ordinary course of 15,305,205.55
business at fixed quotas or amounts as
per the government’s uniform standards)
Capital occupation charges on non-
financial enterprises that are recognized 102,265.48
in profit or loss
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Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2023
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
3,999,408.90
liabilities and available-for-sale financial
assets (exclusive of the effective portion
of hedges that arise in the Company’s
ordinary course of business)
Non-operating income and expense other
-1,401,313.07
than the above
Less: Income tax effects 1,642,599.77
Non-controlling interests effects
9,507,005.06
(net of tax)
Total 6,695,525.48
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 2023/31 Q1 2022/31 Change
Item Explanation of why
March 2023 December 2022 (%)
Reclassification of large depository receipts to
Other current assets 218,918,288.49 79,438,576.89 175.58%
other current assets in the current period
Changes in the fair value of forward forex
Held-for-trading financial
- 4,679,000.00 -100.00% settlement contracts as a result of currency
liabilities
fluctuations
Advances from customers 1,339,057.16 2,532,442.44 -47.12% Decrease in advances of rentals
Reclassification of long-term borrowings that
Current portion of non-current
247,471,375.77 65,540,510.67 277.59% were repaid in advance to the current portion of
liabilities
non-current liabilities in the current period
Reclassification of long-term borrowings that
Long-term borrowings 516,211,979.02 747,931,023.71 -30.98% were repaid in advance to the current portion of
non-current liabilities in the current period
Increased provisions for product warranties in
Provisions 12,615,770.46 9,587,043.31 31.59%
the current period
Decreased liabilities of subsidiary to be
Other non-current liabilities 511.50 308,780.61 -99.83%
liquidated and de-registered
Increased provisions for loan interest and
Finance costs 5,335,776.00 -3,284,457.97 262.46%
currency fluctuations in the current period
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Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2023
Increased provisions for loan interest in the
Interest expense 8,813,441.07 1,957,846.94 350.16%
current period
Increased interest on deposits in the current
Interest income 11,539,895.40 6,491,795.94 77.76%
period
Increased gains on forward forex settlement
Return on investment 4,102,704.62 2,358,344.69 73.97%
contracts in the current period
Increase in net profits of associates attributable
Including: Share of profit or loss
468,407.36 205,973.61 127.41% to owners of the Company as the parent in the
of joint ventures and associates
current period
Changes in the fair value of forward forex
Gain on changes in fair value 2,355,332.19 -117,369.16 2106.77% settlement contracts as a result of exchange rate
fluctuations
Credit impairment loss (“-” for Increased allowance for expected credit loss in
-6,018,416.50 1,838,113.16 -427.42%
loss) the current period
Asset impairment loss (“-” for - Increased inventory valuation allowances in the
-12,009,254.31 542,141.81
loss) 2315.15% current period
Impact of the fixed asset disposal loss of
Asset disposal income 152,323.52 -922,171.71 116.52% subsidiary Nanning Liaowang in the same
period of last year
Impact of the settlement of payables of
Non-operating income 1,102,454.61 8,418,730.30 -86.90% subsidiary NationStar Optoelectronics that it did
not need to pay in the same period of last year
Increase in losses on the disposal of fixed assets
Non-operating expense 2,805,527.75 1,553,860.16 80.55%
in the current period
Decreased amount of changes in the fair value
Other comprehensive income, net
-1,178,927.49 -257,827,934.62 99.54% of investments in other equity instruments in the
of tax
current period
Other comprehensive income, net Decreased amount of changes in the fair value
of tax attributable to owners of -1,542,425.45 -257,628,039.63 99.40% of investments in other equity instruments in the
the Company as the parent current period
Changes in the fair value of Decreased amount of changes in the fair value
investments in other equity -1,962,252.78 -257,478,786.43 99.24% of investments in other equity instruments in the
instruments current period
Differences arising from the
Fluctuations of the RMB against foreign
translation of foreign currency- 419,827.33 -149,253.20 381.29%
currencies
denominated financial statements
Other comprehensive income, net
Fluctuations of the RMB against foreign
of tax attributable to non- 363,497.96 -199,894.99 281.84%
currencies
controlling interests
Decreased amount of changes in the fair value
Total comprehensive income 90,129,509.60 -169,173,985.43 153.28% of investments in other equity instruments in the
current period
Total comprehensive income Decreased amount of changes in the fair value
attributable to owners of the 64,679,120.98 -195,316,965.07 133.11% of investments in other equity instruments in the
Company as the parent current period
Net cash generated from/used in The Company as the parent enhanced inventory
74,718,240.10 -54,833,636.58 236.26%
operating activities control in the current period
More redemptions of bank’s wealth
Net cash generated from/used in
-160,051,306.41 346,579,406.27 -146.18% management products in the same period of last
investing activities
year
More payment for the acquisition of equity
Net cash generated from/used in interests in subsidiary NationStar
23,862,522.56 -668,275,506.17 103.57%
financing activities Optoelectronics under common control in the
same period of last year
Net increase in cash and cash Increased net cash generated from financing
-64,182,857.56 -378,545,477.08 83.04%
equivalents activities
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Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2023
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
Number of preference shareholders with resumed
Number of ordinary shareholders 68,995 0
voting rights (if any)
Top 10 shareholders
Name of Nature of Shareholding Total shares Restricted Shares in pledge, marked or frozen
shareholder shareholder percentage held shares held Status Shares
Hong Kong
Wah Shing
Foreign
Holding 13.84% 188,496,430 0 In pledge 92,363,251
corporation
Company
Limited
Prosperity
Lamps & Foreign
10.79% 146,934,857 0
Components corporation
Limited
Guangdong
Electronics
State-owned
Information 9.01% 122,694,246 0 In pledge 32,532,815
corporation
Industry Group
Ltd.
Guangdong
Rising State-owned
6.10% 83,130,898 0
Holdings corporation
Group Co., Ltd.
Essence
International
Foreign
Securities 2.71% 36,913,759 0
corporation
(Hong Kong)
Limited
Central Huijin
Asset State-owned
2.43% 33,161,800 0
Management corporation
Co., Ltd.
Rising
Investment Foreign
1.87% 25,482,252 0
Development corporation
Limited
Foreign
Zhuang Jianyi 0.87% 11,903,509 8,927,632
individual
Domestic
Zhang Shaowu 0.79% 10,700,000 0
individual
China
Merchants Foreign
0.76% 10,333,131 0
Securities (HK) corporation
Co., Limited
Top 10 unrestricted shareholders
Shares by class
Name of shareholder Unrestricted 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
122,694,246 denominated 122,694,246
Information Industry Group Ltd.
ordinary share
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Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2023
RMB-
Guangdong Rising Holdings
83,130,898 denominated 83,130,898
Group Co., Ltd.
ordinary share
Domestically
Essence International Securities
36,913,759 listed foreign 36,913,759
(Hong Kong) Limited
share
RMB-
Central Huijin Asset Management
33,161,800 denominated 33,161,800
Co., Ltd.
ordinary share
Domestically
Rising Investment Development
25,482,252 listed foreign 25,482,252
Limited
share
RMB-
Zhang Shaowu 10,700,000 denominated 10,700,000
ordinary share
Domestically
China Merchants Securities (HK)
10,333,131 listed foreign 10,333,131
Co., Limited share
RMB-
Zhao Xiyi 7,319,073 denominated 7,319,073
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
Prosperity Lamps & Components Limited and Zhuang Jianyi are acting-in-concert parties.
among the shareholders above
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
None
securities margin 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
Pre-plan for the Issuance of A-shares to Specific Objects in 2023
The Company reviewed and approved matters related to the Company’s issuance of A-Shares to specific objects
at the 39th Meeting of 9th Board of Directors and the 1st Extraordinary General Meeting of 2023 held
respectively on 14 March 2023 and 31 March 2023, and intended to issue additional A-shares to no more than
35 specific targets, including the Company's de facto controller Rising Group, who meet the conditions
stipulated by the CSRC. The number of shares to be issued to the specific targets will not exceed 30% of the
total share capital before issuance, i.e. not more than 408,598,394 shares (inclusive), and the total amount of
funds to be raised will not exceed RMB 1,094,551,800 (inclusive).
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Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2023
The raised funds will be invested in FSL automation transformation and digital transformation project, FSL
Hainan Industrial Park I, smart street light construction project, vehicle lamp module production construction
project and R & D center construction project, the use of raised funds is closely related to the Company's future
development strategy and existing main business.
The issuance of shares to specific targets is subject to the approval of the Shenzhen Stock Exchange and the
consent of the CSRC to the registration decision before implementation.
IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by Foshan Electrical and Lighting Co., Ltd.
31 March 2023
Unit: RMB
Item 31 March 2023 1 January 2023
Current assets:
Monetary assets 2,357,468,063.19 2,484,508,907.43
Settlement reserve
Loans to other banks and financial
institutions
Held-for-trading financial assets 222,970,783.57 261,541,896.45
Derivative financial assets
Notes receivable 832,931,760.96 821,537,774.07
Accounts receivable 2,066,025,996.78 1,920,770,941.76
Receivables financing 672,092,679.79 569,868,831.79
Prepayments 53,545,575.40 45,526,548.93
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract reserve
Other receivables 31,773,899.34 32,902,865.98
Including: Interest receivable
Dividends receivable
Financial assets purchased under resale
agreements
Inventories 1,681,667,759.45 2,031,637,401.87
Contract assets 5,466,875.07 5,466,875.07
Assets held for sale 17,147,339.84 17,147,339.84
Current portion of non-current assets
Other current assets 218,918,288.49 79,438,576.89
Total current assets 8,160,009,021.88 8,270,347,960.08
Non-current assets:
Loans and advances to customers
Debt investments
Other debt investments
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Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2023
Long-term receivables
Long-term equity investments 182,400,200.02 181,931,792.66
Investments in other equity
860,901,521.60 864,191,346.40
instruments
Other non-current financial assets
Investment property 43,989,299.46 44,611,882.44
Fixed assets 3,405,250,132.85 3,508,094,282.41
Construction in progress 1,362,157,512.57 1,282,780,335.14
Productive living assets
Oil and gas assets
Right-of-use assets 11,698,582.37 13,047,727.73
Intangible assets 337,826,947.36 340,166,852.37
Development costs
Goodwill 421,831,593.46 421,831,593.46
Long-term prepaid expense 190,805,253.07 190,126,627.91
Deferred income tax assets 89,510,487.12 88,387,206.25
Other non-current assets 83,157,087.44 81,543,512.85
Total non-current assets 6,989,528,617.32 7,016,713,159.62
Total assets 15,149,537,639.20 15,287,061,119.70
Current liabilities:
Short-term borrowings 157,596,526.02 157,715,359.35
Borrowings from the central bank
Loans from other banks and financial
institutions
Held-for-trading financial liabilities 4,679,000.00
Derivative financial liabilities
Notes payable 2,162,278,226.39 1,975,743,568.71
Accounts payable 2,127,591,876.56 2,513,177,458.14
Advances from customers 1,339,057.16 2,532,442.44
Contract liabilities 148,242,316.45 125,143,161.61
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 145,192,901.02 173,034,152.18
Taxes and levies payable 79,457,988.56 64,295,552.10
Other payables 478,158,179.50 440,230,081.05
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
247,471,375.77 65,540,510.67
liabilities
Other current liabilities 81,962,192.23 100,192,681.00
Total current liabilities 5,629,290,639.66 5,622,283,967.25
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 516,211,979.02 747,931,023.71
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities 7,725,191.05 7,055,542.18
Long-term payables
Long-term employee benefits payable
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Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2023
Provisions 12,615,770.46 9,587,043.31
Deferred income 89,353,828.55 97,078,233.43
Deferred income tax liabilities 203,863,377.75 202,469,697.60
Other non-current liabilities 511.50 308,780.61
Total non-current liabilities 829,770,658.33 1,064,430,320.84
Total liabilities 6,459,061,297.99 6,686,714,288.09
Owners’ equity:
Share capital 1,361,994,647.00 1,361,994,647.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 7,245,971.54 7,245,971.54
Less: Treasury stock 82,165,144.15 82,165,144.15
Other comprehensive income 496,598,593.25 498,141,018.70
Specific reserve
Surplus reserves 91,359,027.15 91,359,027.15
General reserve
Retained earnings 3,362,712,121.95 3,296,490,575.52
Total equity attributable to owners of the
5,237,745,216.74 5,173,066,095.76
Company as the parent
Non-controlling interests 3,452,731,124.47 3,427,280,735.85
Total owners’ equity 8,690,476,341.21 8,600,346,831.61
Total liabilities and owners’ equity 15,149,537,639.20 15,287,061,119.70
Legal representative: Wu Shenghui Chief Financial Officer: Tang Qionglan
Person-in-charge of the Company’s accounting organ: Liang Yuefei
2. Consolidated Income Statement
Unit: RMB
Item Q1 2023 Q1 2022
1. Revenues 2,193,613,606.54 2,049,503,975.00
Including: Operating revenue 2,193,613,606.54 2,049,503,975.00
Interest revenue
Insurance premium income
Fee and commission
income
2. Costs and expenses 2,084,362,951.90 1,973,447,363.73
Including: Cost of sales 1,813,154,540.46 1,722,217,250.17
Interest costs
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 16,950,032.53 13,227,888.52
Selling expense 52,638,260.76 53,841,097.76
Administrative expense 97,742,566.42 93,201,175.94
R&D expense 98,541,775.73 94,244,409.31
Finance costs 5,335,776.00 -3,284,457.97
Including: Interest costs 8,813,441.07 1,957,846.94
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Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2023
Interest
11,539,895.40 6,491,795.94
revenue
Add: Other income 15,294,205.55 19,355,680.58
Return on investment (“-” for loss) 4,102,704.62 2,358,344.69
Including: Share of profit or loss
468,407.36 205,973.61
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 (“-”
2,355,332.19 -117,369.16
for loss)
Credit impairment loss (“-” for
-6,018,416.50 1,838,113.16
loss)
Asset impairment loss (“-” for
-12,009,254.31 542,141.81
loss)
Asset disposal income (“-” for
152,323.52 -922,171.71
loss)
3. Operating profit (“-” for loss) 113,127,549.71 99,111,350.64
Add: Non-operating income 1,102,454.61 8,418,730.30
Less: Non-operating expense 2,805,527.75 1,553,860.16
4. Profit before tax (“-” for loss) 111,424,476.57 105,976,220.78
Less: Income tax expense 20,116,039.48 17,322,271.59
5. Net profit (“-” for net loss) 91,308,437.09 88,653,949.19
5.1 By operating continuity
5.1.1 Net profit from continuing
91,308,437.09 88,653,949.19
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
66,221,546.43 62,311,074.56
owners of the Company as the parent
5.2.1 Net profit attributable to non-
25,086,890.66 26,342,874.63
controlling interests
6. Other comprehensive income, net of
-1,178,927.49 -257,827,934.62
tax
Attributable to owners of the
-1,542,425.45 -257,628,039.63
Company as the parent
6.1 Items that will not be
-1,962,252.78 -257,478,786.43
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
-1,962,252.78 -257,478,786.43
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
419,827.33 -149,253.20
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
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Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2023
allowance for other debt investments
6.2.5 Reserve for cash flow
hedges
6.2.6 Differences arising from the
translation of foreign currency- 419,827.33 -149,253.20
denominated financial statements
6.2.7 Other
Attributable to non-controlling
363,497.96 -199,894.99
interests
7. Total comprehensive income 90,129,509.60 -169,173,985.43
Attributable to owners of the
64,679,120.98 -195,316,965.07
Company as the parent
Attributable to non-controlling
25,450,388.62 26,142,979.64
interests
8. Earnings per share
8.1 Basic earnings per share 0.0491 0.0462
8.2 Diluted earnings per share 0.0486 0.0457
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
Person-in-charge of the Company’s accounting organ: Liang Yuefei
3. Consolidated Cash Flow Statement
Unit: RMB
Item Q1 2023 Q1 2022
1. Cash flows from operating activities:
Proceeds from sale of commodities
1,755,313,840.62 1,867,956,031.94
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 47,283,404.19 61,511,509.10
Cash generated from other operating
60,839,027.29 75,214,936.70
activities
Subtotal of cash generated from
1,863,436,272.10 2,004,682,477.74
operating activities
Payments for commodities and services 1,257,371,909.59 1,495,723,909.80
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
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Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2023
financial institutions
Interest, fees and commissions paid
Policy dividends paid
Cash paid to and for employees 350,439,220.39 394,835,007.03
Taxes and levies paid 90,343,198.54 86,687,935.34
Cash used in other operating activities 90,563,703.48 82,269,262.15
Subtotal of cash used in operating
1,788,718,032.00 2,059,516,114.32
activities
Net cash generated from/used in
74,718,240.10 -54,833,636.58
operating activities
2. Cash flows from investing activities:
Proceeds from disinvestment 20,981,292.12 502,992,240.66
Return on investment 15,446.65 4,392,035.26
Net proceeds from the disposal of fixed
assets, intangible assets and other long- 356,000.00 42,419.45
lived assets
Net proceeds from the disposal of
subsidiaries and other business units
Cash generated from other investing
activities
Subtotal of cash generated from
21,352,738.77 507,426,695.37
investing activities
Payments for the acquisition of fixed
assets, intangible assets and other long- 51,404,045.18 119,151,525.79
lived assets
Payments for investments 130,000,000.00 41,695,763.31
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
181,404,045.18 160,847,289.10
activities
Net cash generated from/used in
-160,051,306.41 346,579,406.27
investing activities
3. Cash flows from financing activities:
Capital contributions received
Including: Capital contributions by
non-controlling interests to subsidiaries
Borrowings received 50,000,000.00 432,336,000.00
Cash generated from other financing
78,509,476.58 51,224,394.37
activities
Subtotal of cash generated from
128,509,476.58 483,560,394.37
financing activities
Repayment of borrowings 100,000,000.00 88,897,858.15
Interest and dividends paid 4,578,701.69 936,829.90
Including: Dividends paid by
subsidiaries to non-controlling interests
Cash used in other financing activities 68,252.33 1,062,001,212.49
Subtotal of cash used in financing
104,646,954.02 1,151,835,900.54
activities
Net cash generated from/used in
23,862,522.56 -668,275,506.17
financing activities
4. Effect of foreign exchange rates
-2,712,313.81 -2,015,740.60
changes on cash and cash equivalents
5. Net increase in cash and cash
-64,182,857.56 -378,545,477.08
equivalents
Add: Cash and cash equivalents,
1,945,971,307.26 1,940,209,052.92
beginning of the period
6. Cash and cash equivalents, end of the
1,881,788,449.70 1,561,663,575.84
period
Legal representative: Wu Shenghui Chief Financial Officer: Tang Qionglan
Person-in-charge of the Company’s accounting organ: Liang Yuefei
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Foshan Electrical and Lighting Co., Ltd. First Quarterly Report 2023
(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.
The Board of Directors
Foshan Electrical and Lighting Co., Ltd.
28 April 2023
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