Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2023
Stock Code: 000541, 200541 Stock Name: FSL, FSL-B Announcement No. 2023-065
FOSHAN ELECTRICAL AND LIGHTING CO., LTD.
THIRD 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
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
Changes to accounting policies and business Combination under the same control
YoY YoY
Q3 2022 Q1-Q3 Q1-Q3 2022
Q3 2023 change (%) change (%)
2023
Before Restated Restated Before Restated Restated
Operating
2,230,945 2,061,412 2,091,857 6,797,008 6,409,681 6,525,188
revenue 6.65% 4.17%
(RMB) ,274.66 ,360.91 ,134.06 ,003.68 ,360.22 ,527.48
Net profit 69,756,56 60,088,02 61,391,47 13.63% 238,691,8 220,752,4 224,919,4 6.12%
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2023
attributable 8.65 6.76 8.35 01.19 60.04 98.13
to the listed
company’s
shareholder
s (RMB)
Net profit
attributable
to the listed
company’s
shareholder 49,838,99 64,167,90 64,120,83 230,228,2 225,030,4 226,335,4
-22.27% 1.72%
s before 8.43 8.29 5.07 09.96 32.47 30.41
exceptional
gains and
losses
(RMB)
Net cash
generated
from/used
753,566,2 544,288,0 575,277,3
in — — — — 30.99%
operating 21.72 75.20 22.38
activities
(RMB)
Basic
earnings
per share 0.0517 0.0445 0.0455 13.63% 0.1769 0.1636 0.1667 6.12%
(RMB/shar
e)
Diluted
earnings
per share 0.0512 0.0441 0.0451 13.53% 0.1753 0.1636 0.1651 6.18%
(RMB/shar
e)
Weighted
average
1.36% 1.20% 0.75% 0.61% 4.59% 3.88% 2.78% 1.81%
return on
equity (%)
31 December 2022 YoY change (%)
30 September 2023
Before Restated Restated
Total assets
15,306,358,220.91 15,287,061,119.70 15,288,860,907.09 0.11%
(RMB)
Equity
attributable
to the listed
5,187,261,100.02 5,173,066,095.76 5,173,011,348.74 0.28%
company’s
shareholder
s (RMB)
Reason for change to accounting policies :
In November 2022, the Ministry of Finance ("MOF") issued Accounting Standard for Business Enterprises
Interpretation No. 16 (hereinafter referred to as "Interpretation No. 16"), which regulated the accounting
treatment for the exemption from initial recognition of the deferred income taxes related to assets and liabilities
arising from a single transaction. It specified that, for single transactions that are not business combinations, that
affect neither accounting profit nor taxable income (or deductible losses) at the time the transaction occurs, and
where the initial recognition of assets and liabilities results in taxable temporary differences and deductible
temporary differences of equal amounts, exemption from initial recognition of deferred income tax liabilities
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2023
and deferred income tax assets under Article XI (II) and Article XIII of Accounting Standard for Business
Enterprises No. 18 -- Income Taxes is not applicable. An enterprise shall recognise the corresponding deferred
income tax liabilities and deferred income tax assets for the taxable temporary differences and deductible
temporary differences arising from the initial recognition of assets and liabilities in respect of the transaction
when the transaction occurs. This provision came into force on 1 January 2023 and can be executed in advance.
For exact amount affected, see “(II) Adjustments to Financial Statement Items at the Beginning of the Year of
the First Implementation of the New Accounting Standards Implemented since 2023” under Item IV in this
Report.
(II) Exceptional Gains and Losses
Applicable □ Not applicable
Unit: RMB
Item Q3 2023 Q1-Q3 2023 Note
Gain or loss on disposal of
non-current assets (inclusive
13,274,955.07 11,875,836.12
of impairment allowance
write-offs)
Government grants through
profit or loss (exclusive of
government grants given in
the Company’s ordinary
13,550,632.63 40,951,624.68
course of business at fixed
quotas or amounts as per the
government’s uniform
standards)
Capital occupation charges on
non-financial enterprises that
56,338.62 201,762.16
are recognized in profit or
loss
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 4,433,195.76 -16,545,307.62
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
1,925,914.53 1,084,857.14
expense other than the above
Less: Income tax effects 4,149,865.85 3,183,612.26
Non-controlling
9,173,600.54 25,921,568.99
interests effects (net of tax)
Total 19,917,570.22 8,463,591.23 --
Other items that meet the definition of exceptional gain/loss:
□Applicable Not applicable
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2023
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 2023/
Q1~Q3 2022/
Item 30 September Change (%) Explanation of why
1 January 2023
2023
Held-for-trading Redemption of wealth management products
181,479,512.22 261,541,896.45 -30.61%
financial assets upon maturity in the current period
Decreased bank acceptance notes with higher
Receivables financing 364,872,086.77 569,868,831.79 -35.97%
credit ratings in the current period
Reclassification of large depository receipts to
Other current assets 235,091,397.07 79,438,576.89 195.94%
other current assets in the current period
Expiry of some leases and rent abatements in the
Right-of-use assets 8,388,054.40 13,047,727.73 -35.71%
current period
Changes in the fair value of forward forex
Held-for-trading
14,879,250.00 4,679,000.00 218.00% settlement contracts as a result of currency
financial liabilities
fluctuations
Advances from
313,404.00 2,532,442.44 -87.62% Decrease in advances of rentals
customers
Interest payable 18,359.41 N/A Accrued interest payable in the current period
Adjustment of dividends that were no longer
Dividends payable 10,112.28 15,646.07 -35.37%
needed to be paid in the current period
Long-term Repayment of some long-term borrowings in the
510,871,537.62 747,931,023.71 -31.70%
borrowings current period
Other non-current Decreased liabilities of subsidiary liquidated and
205,769.48 308,780.61 -33.36%
liabilities de-registered in the current period
Increased provisions for property tax and surtax
Taxes and levies 56,954,464.79 40,721,043.34 39.86%
of value added tax in the current period
Increased interest expense on borrowings in the
Interest expense 19,331,634.25 12,789,860.77 51.15%
current period
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2023
Increased interest income from bank deposits in
Interest income 38,170,763.00 19,191,092.04 98.90%
the current period
Decrease in recognized income from fiscal
Other income 40,940,624.68 63,287,513.13 -35.31%
subsidies in the current period
Increased gains on forward forex settlement
Return on investment 19,490,163.08 13,670,258.81 42.57%
contracts in the current period
Share of profit or loss Increase in net profits of associates attributable
of joint ventures and 1,558,105.76 985,142.24 58.16% to owners of the Company as the parent in the
associates current period
Increased receivable balance in the current
Credit impairment
-30,867,217.69 -6,458,671.84 -377.92% period, resulting in increased allowances for
loss (“-” for loss)
doubtful amounts
Increased income from the disposal of fixed
Asset disposal income 12,669,744.50 283,064.85 4375.92%
assets in the current period
Transfer to non-operating income of payables of
Non-operating
5,569,379.68 10,752,058.29 -48.20% subsidiary NationStar Optoelectronics that it did
income
not need to pay in the same period of last year
Non-operating The same period of last year saw a higher loss on
5,267,434.90 7,575,079.92 -30.46%
expense the retirement of fixed assets
Decreased income arising from changes in the
Other comprehensive
-88,509,238.19 -378,748,998.86 76.63% fair value of investments in other equity
income, net of tax
instruments in the current period
Other comprehensive
income, net of tax Decreased income arising from changes in the
attributable to owners -89,542,585.21 -379,127,519.77 76.38% fair value of investments in other equity
of the Company as the instruments in the current period
parent
Changes in the fair
Decreased income arising from changes in the
value of investments
-90,769,609.63 -379,785,755.08 76.10% fair value of investments in other equity
in other equity
instruments in the current period
instruments
Differences arising
from the translation of
Fluctuations of the RMB against foreign
foreign currency- 1,227,024.42 658,235.31 86.41%
currencies
denominated financial
statements
Other comprehensive
income, net of tax Fluctuations of the RMB against foreign
1,033,347.02 378,520.91 173.00%
attributable to non- currencies
controlling interests
Decreased income arising from changes in the
Total comprehensive
232,341,926.76 -37,300,202.99 722.90% fair value of investments in other equity
income
instruments in the current period
Total comprehensive
income attributable to Decreased income arising from changes in the
owners of the 149,149,215.98 -154,208,021.64 196.72% fair value of investments in other equity
Company as the instruments in the current period
parent
Net cash generated A decreased amount of notes payable that were
from/used in 753,566,221.72 575,277,322.38 30.99% due were honored with material suppliers in the
operating activities current period.
Net cash generated The same period of last year saw the disposal of
-272,237,910.41 -57,548,961.25 -373.05%
from/used in investing the Gotion High-tech shares, resulting in
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2023
activities increased cash inflow from investing activities,
and wealth management products were
purchased in the current period.
More payment for the acquisition of equity
Net cash generated
interests in subsidiary NationStar
from/used in -365,735,695.99 -869,659,908.56 57.94%
Optoelectronics under common control in the
financing activities
same period of last year
Net increase in cash Increased net cash generated from financing
120,085,894.40 -314,428,453.50 138.19%
and cash equivalents activities
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 63,701 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
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
corporation
Industry Group
Ltd.
Guangdong
Rising State-owned
6.10% 83,130,898 0
Holdings corporation
Group Co., Ltd.
Essence
International
Foreign
Securities 2.77% 37,776,511 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 0.86% 11,700,000 0
individual
China
Foreign
Merchants 0.67% 9,178,398 0
corporation
Securities (HK)
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2023
Co., Limited
Top 10 unrestricted shareholders
Shares by class and number
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
122,694,246 denominated 122,694,246
Information Industry Group Ltd.
ordinary share
RMB-
Guangdong Rising Holdings
83,130,898 denominated 83,130,898
Group Co., Ltd. ordinary share
Domestically
Essence International Securities
37,776,511 listed foreign 37,776,511
(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 11,700,000 denominated 11,700,000
ordinary share
Domestically
China Merchants Securities (HK)
9,178,398 listed foreign 9,178,398
Co., Limited share
RMB-
Hong Kong Securities Clearing
7,495,887 denominated 7,495,887
Company Limited 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 acting-
shareholders above
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. Share offering to specific parties
The Company intends to raise gross proceeds of no more than RMB1,094.5518 million through an offering of
A-stock shares to specific parties. The amount exclusive of the issuance costs will be used to invest in the FSL
7
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2023
automation and digital transformation construction project, the FSL Hainan Industrial Park Phase I, the
intelligent street light construction project, the automotive lamp module production and construction project,
and the R&D centre construction project. The said share offering plan has been approved at the 39th Meeting of
the Ninth Board of Directors and a general meeting of shareholders on 14 March 2023 and 31 March 2023,
respectively, as well as by the Public Offering Review Centre of the Shenzhen Stock Exchange on 17 July 2023.
The approval of the CSRC was obtained on 31 August 2023.
2. Equity incentives
On 12 June 2023, the 2023 Restricted Share Incentive Plan (Draft) and Its Summary, together with other
relevant proposals, were approved at the 44th Meeting of the Ninth Board of Directors and the 22nd Meeting of
the Ninth Supervisory Committee. As such, it was approved to grant no more than 13,000,000 restricted shares
(accounting for 0.95% of the Company’s total share capital of 1,361.9946 million shares at the date of the
announcement on the draft plan of the incentive plan) to 262 awardees. To be specific, there were 11.7 million
shares for the first grant, accounting for 90.00% of the total grant under the incentive plan; and there were 1.3
million reserved shares, accounting for 10.00% of the total grant under the incentive plan. The restricted shares
were A-stock ordinary shares repurchased by the Company. And the grant price for the first grant was
RMB3.81/share. This equity incentive plan is subject to approval by the State-owned Assets Supervision and
Administration Commission of Guangdong Province and a general meeting of shareholders of the Company.
For further information, see the 2023 Restricted Share Incentive Plan (Draft) and Its Summary and other
relevant proposals that have been disclosed on http://www.cninfo.com.cn/ dated 13 June 2023.
3. 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
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 the date of this
report, Nanjing Fozhao has received 30% of the compensation, that is, RMB55,160,000.00, the land use right
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2023
certificate and house ownership certificate of the assets involved have been cancelled, and the site handover is
still in progress.
4. De-registration of FSL Lighting GmbH
The Company held a general manager's office meeting on 22 October 2021, at which the proposal on de-
registration of wholly-owned subsidiary FSL Lighting GmbH was approved. As of 30 September 2023, the
liquidation and de-registration procedures of FSL Lighting GmbH have been completed.
IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by Foshan Electrical and Lighting Co., Ltd.
30 September 2023
Unit: RMB
Item 30 September 2023 1 January 2023
Current assets:
Monetary assets 2,624,474,183.70 2,484,508,907.43
Settlement reserve
Loans to other banks and financial
institutions
Held-for-trading financial assets 181,479,512.22 261,541,896.45
Derivative financial assets
Notes receivable 858,685,880.80 821,537,774.07
Accounts receivable 2,284,154,530.73 1,920,770,941.76
Receivables financing 364,872,086.77 569,868,831.79
Prepayments 53,000,900.42 45,526,548.93
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract reserve
Other receivables 41,462,469.77 32,902,865.98
Including: Interest receivable
Dividends receivable
Financial assets purchased under resale
agreements
Inventories 1,807,233,818.39 2,031,637,401.87
Contract assets 5,153,358.98 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 235,091,397.07 79,438,576.89
Total current assets 8,472,755,478.69 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. Third Quarterly Report 2023
Long-term receivables
Long-term equity investments 180,920,304.64 181,931,792.66
Investments in other equity instruments 756,422,278.25 864,191,346.40
Other non-current financial assets
Investment property 42,744,133.50 44,611,882.44
Fixed assets 3,307,248,243.19 3,508,094,282.41
Construction in progress 1,425,371,629.87 1,282,780,335.14
Productive living assets
Oil and gas assets
Right-of-use assets 8,388,054.40 13,047,727.73
Intangible assets 337,840,926.53 340,166,852.37
Development costs
Goodwill 421,831,593.46 421,831,593.46
Long-term prepaid expense 175,648,593.25 190,126,627.91
Deferred income tax assets 96,825,193.47 90,186,993.64
Other non-current assets 80,361,791.66 81,543,512.85
Total non-current assets 6,833,602,742.22 7,018,512,947.01
Total assets 15,306,358,220.91 15,288,860,907.09
Current liabilities:
Short-term borrowings 148,330,000.00 157,715,359.35
Borrowings from the central bank
Loans from other banks and financial
institutions
Held-for-trading financial liabilities 14,879,250.00 4,679,000.00
Derivative financial liabilities
Notes payable 2,018,799,321.11 1,975,743,568.71
Accounts payable 2,573,063,139.88 2,513,177,458.14
Advances from customers 313,404.00 2,532,442.44
Contract liabilities 152,470,713.70 125,143,161.61
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 176,079,014.80 173,034,152.18
Taxes and levies payable 83,220,269.93 64,295,552.10
Other payables 505,681,214.00 440,230,081.05
Including: Interest payable 18,359.41
Dividends payable 10,112.28 15,646.07
Fees and commissions payable
Reinsurance payables
Liabilities directly associated with
assets held for sale
Current portion of non-current
63,412,452.73 65,540,510.67
liabilities
Other current liabilities 108,239,924.32 100,192,681.00
Total current liabilities 5,844,488,704.47 5,622,283,967.25
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 510,871,537.62 747,931,023.71
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities 6,115,468.78 7,055,542.18
Long-term payables
Long-term employee benefits payable
Provisions 9,360,647.32 9,587,043.31
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2023
Deferred income 77,384,101.89 97,078,233.43
Deferred income tax liabilities 192,214,231.86 204,371,264.18
Other non-current liabilities 205,769.48 308,780.61
Total non-current liabilities 796,151,756.95 1,066,331,887.42
Total liabilities 6,640,640,461.42 6,688,615,854.67
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 408,598,433.49 498,141,018.70
Specific reserve
Surplus reserves 91,359,027.15 91,359,027.15
General reserve
Retained earnings 3,400,228,164.99 3,296,435,828.50
Total equity attributable to owners of the
5,187,261,100.02 5,173,011,348.74
Company as the parent
Non-controlling interests 3,478,456,659.47 3,427,233,703.68
Total owners’ equity 8,665,717,759.49 8,600,245,052.42
Total liabilities and owners’ equity 15,306,358,220.91 15,288,860,907.09
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 2023 Q1~Q3 2022
1. Revenues 6,797,008,003.68 6,525,188,527.48
Including: Operating revenue 6,797,008,003.68 6,525,188,527.48
Interest income
Insurance premium income
Fee and commission
income
2. Costs and expenses 6,420,801,736.12 6,146,972,601.95
Including: Cost of sales 5,527,480,367.80 5,355,208,894.59
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 56,954,464.79 40,721,043.34
Selling expense 211,510,086.07 163,048,296.08
Administrative expense 299,817,354.12 291,280,291.37
R&D expense 359,659,339.75 332,426,466.72
Finance costs -34,619,876.41 -35,712,390.15
Including: Interest
19,331,634.25 12,789,860.77
expense
Interest income 38,170,763.00 19,191,092.04
Add: Other income 40,940,624.68 63,287,513.13
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Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2023
Return on investment (“-” for loss) 19,490,163.08 13,670,258.81
Including: Share of profit or loss
1,558,105.76 985,142.24
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 (“-”
-13,694,620.01 -15,847,302.07
for loss)
Credit impairment loss (“-” for
-30,867,217.69 -6,458,671.84
loss)
Asset impairment loss (“-” for
-45,751,119.19 -46,526,314.03
loss)
Asset disposal income (“-” for
12,669,744.50 283,064.85
loss)
3. Operating profit (“-” for loss) 358,993,842.93 386,624,474.38
Add: Non-operating income 5,569,379.68 10,752,058.29
Less: Non-operating expense 5,267,434.90 7,575,079.92
4. Gross profit (“-” for loss) 359,295,787.71 389,801,452.75
Less: Income tax expense 38,444,622.76 48,352,656.88
5. Net profit (“-” for net loss) 320,851,164.95 341,448,795.87
5.1 By operating continuity
5.1.1 Net profit from continuing
320,851,164.95 341,448,795.87
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
shareholders of the Company as the 238,691,801.19 224,919,498.13
parent (“-” for net loss)
5.2.1 Net profit attributable to non-
82,159,363.76 116,529,297.74
controlling interests (“-” for net loss)
6. Other comprehensive income, net of
-88,509,238.19 -378,748,998.86
tax
Attributable to owners of the
-89,542,585.21 -379,127,519.77
Company as the parent
6.1 Items that will not be
-90,769,609.63 -379,785,755.08
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
-90,769,609.63 -379,785,755.08
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
1,227,024.42 658,235.31
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
12
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2023
hedges
6.2.6 Differences arising from the
translation of foreign currency- 1,227,024.42 658,235.31
denominated financial statements
6.2.7 Other
Attributable to non-controlling
1,033,347.02 378,520.91
interests
7. Total comprehensive income 232,341,926.76 -37,300,202.99
7.1 Attributable to owners of the
149,149,215.98 -154,208,021.64
Company as the parent
7.2 Attributable to non-controlling
83,192,710.78 116,907,818.65
interests
8. Earnings per share
8.1 Basic earnings per share 0.1769 0.1667
8.2 Diluted earnings per share 0.1753 0.1651
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 for Q1~Q3
Unit: RMB
Item Q1~Q3 2023 Q1~Q3 2022
1. Cash flows from operating activities:
Proceeds from sale of commodities
5,975,682,602.93 6,156,929,254.90
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 164,019,398.33 185,461,999.13
Cash generated from other operating
193,974,038.74 170,559,869.33
activities
Subtotal of cash generated from
6,333,676,040.00 6,512,951,123.36
operating activities
Payments for commodities and services 4,036,894,176.40 4,355,919,362.91
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
13
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2023
Net increase in loans to other banks and
financial institutions
Interest, fees and commissions paid
Policy dividends paid
Cash paid to and for employees 1,035,295,184.09 1,061,563,854.31
Taxes and levies paid 305,559,029.37 264,566,896.10
Cash used in other operating activities 202,361,428.42 255,623,687.66
Subtotal of cash used in operating
5,580,109,818.28 5,937,673,800.98
activities
Net cash generated from/used in
753,566,221.72 575,277,322.38
operating activities
2. Cash flows from investing activities:
Proceeds from disinvestment 220,981,292.12 534,902,240.66
Return on investment 15,446,758.01 15,331,293.58
Net proceeds from the disposal of fixed
assets, intangible assets and other long- 1,595,864.64 1,524,973.60
lived assets
Net proceeds from the disposal of
subsidiaries and other business units
Cash generated from other investing
activities
Subtotal of cash generated from
238,023,914.77 551,758,507.84
investing activities
Payments for the acquisition of fixed
assets, intangible assets and other long- 219,901,065.19 483,847,805.78
lived assets
Payments for investments 290,000,000.00 125,459,663.31
Net increase in pledged loans granted
Net payments for the acquisition of
subsidiaries and other business units
Cash used in other investing activities 360,759.99
Subtotal of cash used in investing
510,261,825.18 609,307,469.09
activities
Net cash generated from/used in
-272,237,910.41 -57,548,961.25
investing activities
3. Cash flows from financing activities:
Capital contributions received
Including: Capital contributions by
non-controlling interests to subsidiaries
Borrowings received 143,185,218.89 724,436,000.00
Cash generated from other financing
40,461,306.66 5,506,572.70
activities
Subtotal of cash generated from
183,646,525.55 729,942,572.70
financing activities
Repayment of borrowings 366,489,526.02 355,803,238.15
Interest and dividends paid 182,483,084.25 162,715,594.13
Including: Dividends paid by
31,969,754.99 24,282,863.70
subsidiaries to non-controlling interests
Cash used in other financing activities 409,611.27 1,081,083,648.98
Subtotal of cash used in financing
549,382,221.54 1,599,602,481.26
activities
Net cash generated from/used in
-365,735,695.99 -869,659,908.56
financing activities
4. Effect of foreign exchange rates
4,493,279.08 37,503,093.93
changes on cash and cash equivalents
5. Net increase in cash and cash
120,085,894.40 -314,428,453.50
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
2,066,057,201.66 1,625,780,599.42
period
Legal representative: Wu Shenghui Chief Financial Officer: Tang Qionglan
Person-in-charge of the Company’s accounting organ: Liang Yuefei
14
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2023
(II) Adjustments to Financial Statement Items at the Beginning of the Year of the First Implementation
of the New Accounting Standards Implemented since 2023
Applicable □ Not applicable
Note to adjustments
The account data of financial statements are retroactively adjusted as follows:
Unit: RMB
Consolidated balance sheet
1 January 2022
Item Before After Affected
1,898,149
Deferred income tax assets 82,261,788.58 84,159,937.92
.34
1,862,978
Deferred income tax liabilities 280,172,789.59 282,035,768.42
.83
Retained earnings 3,111,864,076.86 3,111,882,995.08 18,918.22
Total equity attributable to owners of the Company as the
7,036,108,772.54 7,036,127,690.76 18,918.22
parent
Non-controlling interests 3,543,741,175.21 3,543,757,427.50 16,252.29
10,579,849,947.7 10,579,885,118.2
Total owners’ equity 35,170.51
5 6
Unit: RMB
Consolidated balance sheet
1 January 2023
Item Before After Affected
Deferred income tax assets 88,387,206.25 90,186,993.64 1,799,787.39
Deferred income tax liabilities 202,469,697.60 204,371,264.18 1,901,566.58
Retained earnings 3,296,490,575.52 3,296,435,828.50 -54,747.02
Total equity attributable to owners of the
5,173,066,095.76 5,173,011,348.74 -54,747.02
Company as the parent
Non-controlling interests 3,427,280,735.85 3,427,233,703.68 -47,032.17
Total owners’ equity 8,600,346,831.61 8,600,245,052.42 -101,779.19
Unit: RMB
Consolidated income statement
2022
Item Before After Affected
Income tax expense 30,874,328.03 31,011,277.73 136,949.70
-
Net profit 350,843,355.72 350,706,406.02
136,949.70
Net profit attributable to shareholders of the Company as the parent 230,394,235.91 230,320,570.67 -73,665.24
Net profit attributable to non-controlling interests 120,449,119.81 120,385,835.35 -63,284.46
Note: The amount affected by the retroactive adjustment of this accounting policy change has not been audited.
15
Foshan Electrical and Lighting Co., Ltd. Third Quarterly Report 2023
(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.
26 October 2023
16
