Stock Code: 000541, 200541 Stock Name: FSL, FSL-B Announcement No.2024-032
FOSHAN ELECTRICAL AND LIGHTING CO., LTD.
FIRST QUARTERLY REPORT 2024
Foshan Electrical and Lighting Co., Ltd. (hereinafter referred to as the “Company”) and all the members of theCompany’s Board of Directors hereby guarantee that the contents of this Report are true, accurate and completeand 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 seniormanagement of the Company hereby guarantee that the contents of this Report are true, accurate and completeand free of any misrepresentations, misleading statements or material omissions, and collectively andindividually accept legal responsibility for such contents.
2. The Company’s legal representative, Chief Financial Officer (CFO), and person-in-charge of the Company’saccounting organ (equivalent to accounting manager) hereby guarantee that the financial statements carried inthis 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 ormisunderstandings between the two versions, the Chinese version shall prevail.
I Key Financial Information(I) Key Accounting Data and Financial IndicatorsIndicate whether there is any retrospectively restated datum in the table below.
□Yes ?No
| Q1 2024 | Q1 2023 | YoY change (%) | |
| Operating revenue (RMB) | 2,517,243,351.93 | 2,193,613,606.54 | 14.75% |
| Net profit attributable to the listed company’s shareholders (RMB) | 83,714,220.74 | 66,221,546.43 | 26.42% |
| Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB) | 76,725,491.16 | 59,526,020.95 | 28.89% |
| Net cash generated from/used in operating activities (RMB) | 77,337,687.93 | 74,718,240.10 | 3.51% |
| Basic earnings per share (RMB/share) | 0.0545 | 0.0491 | 11.00% |
| Diluted earnings per share (RMB/share) | 0.0541 | 0.0486 | 11.32% |
| Weighted average return on equity (%) | 1.32% | 1.27% | 0.05% |
| 31 March 2024 | 31 December 2023 | Change (%) | |
| Total assets (RMB) | 16,743,443,081.77 | 16,934,439,915.02 | -1.13% |
| Equity attributable to the listed company’s shareholders (RMB) | 6,358,579,328.50 | 6,285,442,808.19 | 1.16% |
(II) Exceptional Gains and Losses? Applicable □ Not applicable
Unit: RMB
| Item | Q1 2024 | Note |
| Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) | 71,208.17 | |
| Government grants recognised in profit or loss (exclusive of those that are closely related to the Company's normal business operations and given in accordance with defined criteria and in compliance with government policies, and have a continuing impact on the Company's profit or loss) | 14,481,564.17 | |
| Gain or loss on fair-value changes in financial assets and liabilities held by a non-financial enterprise, as well as on disposal of financial assets and liabilities (exclusive of the effective portion of hedges that is related to the Company's normal business operations) | 1,181,146.09 |
| Capital occupation charges on non-financial enterprises that are charged to current gains and losses | 41,758.63 | |
| Reversed portions of impairment allowances for receivables which are tested individually for impairment | 38,706.02 | |
| Non-operating income and expense other than the above | 230,293.58 | |
| Less: Income tax effects | 1,774,097.55 | |
| Non-controlling interests effects (net of tax) | 7,281,849.53 | |
| Total | 6,988,729.58 | -- |
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 theExplanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to thePublic—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
| Item | Q1 2024/31 March 2024 | Q1 2023/31 December 2023 | Change (%) | Main reason for the change |
| Contract assets | 2,366,030.73 | 4,252,013.94 | -44.36% | Receipt of customer payments in the current period |
| Other current assets | 194,491,321.99 | 109,292,399.14 | 77.96% | Purchase of time depository receipts with a maturity within one year in the current period |
| Other debt investments | 1,137,475,227.53 | 454,822,905.25 | 150.09% | Purchase of large depository receipts in the current period |
| Short-term borrowings | 115,406,529.09 | 220,019,877.73 | -47.55% | Derecognition of discounted notes receivable with recourse in the current period |
| Advances from customers | 193,618.85 | 466,872.69 | -58.53% | Decrease in advances of rentals in the current period |
| Contract liabilities | 137,625,250.32 | 235,335,693.28 | -41.52% | Decreased advances from customers in the current period |
| Taxes and levies payable | 95,149,122.98 | 42,940,157.30 | 121.59% | Increase in value added tax payable in the current period |
| Other non-current liabilities | 205,769.48 | -100.00% | Transfer of output tax pending write-off in the current period |
| Specific reserve | 1,719,382.45 | 1,213,325.92 | 41.71% | Establishment of specific reserve in the current period |
| Selling expense | 83,278,275.64 | 52,638,260.76 | 58.21% | Increased business promotion and advertising expenses paid in the process of selling products for market expansion in the current period |
| R&D expense | 130,242,811.21 | 98,541,775.73 | 32.17% | Greater inputs in R&D in the current period |
| Finance costs | -14,291,426.54 | 5,335,776.00 | -367.84% | Currency fluctuations in the current period |
| Interest costs | 4,840,250.34 | 8,813,441.07 | -45.08% | Decreased interest expense on borrowings in the current period |
| Other income | 27,748,471.98 | 15,294,205.55 | 81.43% | Increase in government grants received in the current period |
| Return on investment | 8,290,925.60 | 4,102,704.62 | 102.08% | Increased interest income from large depository receipts in the current period |
| Share of profit of joint ventures and associates | 990,924.47 | 468,407.36 | 111.55% | Increase in net profits of associates attributable to owners of the Company as the parent in the current period |
| Gain on changes in fair value | -466,532.76 | 2,355,332.19 | -119.81% | Decreased gain on changes in fair value as a result of the transfer of investments in wealth management instruments to return on investment upon maturity |
| Credit impairment loss (“-” for loss) | -11,578,477.05 | -6,018,416.50 | -92.38% | Increased allowance for expected credit loss in the current period |
| Asset impairment loss (“-” for loss) | -23,811,074.89 | -12,009,254.31 | -98.27% | Increased inventory valuation allowances in the current period |
| Asset disposal income | -99,108.79 | 152,323.52 | -165.06% | Loss on disposal of assets in the current period |
| Non-operating income | 217,620.55 | 1,102,454.61 | -80.26% | Decreased non-operating income in the current period |
| Non-operating expense | -182,989.99 | 2,805,527.75 | -106.52% | Reversal in the current period of loss on damage and retirement of non-current assets recognized in the same period of last year, and a higher base of such loss in the same period of last year |
| Other comprehensive income, net of tax | -11,249,041.00 | -1,178,927.49 | -854.18% | Increased changes in the fair value of investments in other equity instruments in the current period compared with the same period of last year |
| Other comprehensive income attributable to owners of the Company as the parent, net of tax | -11,083,756.96 | -1,542,425.45 | -618.59% | Increased changes in the fair value of investments in other equity instruments in the current period compared with the same period of last year |
| Changes in the fair value of investments in other equity instruments | -10,891,442.27 | -1,962,252.78 | -455.05% | Increased changes in the fair value of investments in other equity instruments in the current period compared with the same period of last year |
| Differences arising from the translation of foreign currency-denominated financial statements | -192,314.69 | 419,827.33 | -145.81% | Fluctuations of the RMB against foreign currencies |
| Other comprehensive income attributable to non-controlling interests, net of tax | -165,284.04 | 363,497.96 | -145.47% | Fluctuations of the RMB against foreign currencies |
| Net cash generated from/used in investing activities | -846,896,748.45 | -160,051,306.41 | -429.14% | Purchase of a higher total amount of large depository receipts in the current period |
| Net cash generated from/used in financing activities | 57,657,087.76 | 23,862,522.56 | 141.62% | Increase in borrowings obtained in the current period and higher amount of borrowing repayment in the same period of last year |
| Net increase in cash and cash equivalents | -705,683,822.03 | -64,182,857.56 | -999.49% | Decrease in net cash generated from investing activities |
II Shareholder Information(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as wellas Holdings of Top 10 Shareholders
Unit: share
| Number of ordinary shareholders | 75,427 | Number of preference shareholders with resumed voting rights (if any) | 0 | |||
| Top 10 shareholders (exclusive of shares lent in refinancing) | ||||||
| Name of shareholder | Nature of shareholder | Shareholding percentage | Total shares held | Restricted shares held | Shares in pledge, marked or frozen | |
| Status | Shares | |||||
| Hong Kong Wah Shing Holding Company Limited | Foreign corporation | 12.17% | 188,496,430.00 | 0.00 | N/A | 0.00 |
| Prosperity Lamps & Components Limited | Foreign corporation | 9.49% | 146,934,857.00 | 0.00 | N/A | 0.00 |
| Guangdong Rising Holdings Group Co., Ltd. | State-owned corporation | 8.38% | 129,826,793.00 | 46,695,895.00 | N/A | 0.00 |
| Guangdong Electronics Information Industry Group Ltd. | State-owned corporation | 7.92% | 122,694,246.00 | 0.00 | N/A | 0.00 |
| Essence International Securities (Hong Kong) Limited | Foreign corporation | 2.50% | 38,645,124.00 | 0.00 | N/A | 0.00 |
| Central Huijin Asset Management Co., Ltd. | State-owned corporation | 2.14% | 33,161,800.00 | 0.00 | N/A | 0.00 |
| Rising Investment Development Limited | Foreign corporation | 1.65% | 25,482,252.00 | 0.00 | N/A | 0.00 |
| Hong Kong Securities Clearing Company Limited | Foreign corporation | 1.61% | 25,009,733.00 | 0.00 | N/A | 0.00 |
| Caitong Fund-Huatai Securities Co., Ltd.-Caitong Fund Junxinag Yongxi Single Asset Management Plan | Other | 0.99% | 15,392,492.00 | 15,392,492.00 | N/A | 0.00 |
| Nuode Asset Management-Huatai | Other | 0.96% | 14,846,416.00 | 14,846,416.00 | N/A | 0.00 |
| Securities Co., Ltd.-Caitong Fund Pujiang No. 120 Single Asset Management Plan | |||||
| Top 10 unrestricted shareholders | |||||
| Name of shareholder | Unrestricted shares held | Shares by class | |||
| Class | Shares | ||||
| Hong Kong Wah Shing Holding Company Limited | 188,496,430.00 | RMB-denominated ordinary share | 188,496,430.00 | ||
| Prosperity Lamps & Components Limited | 146,934,857.00 | RMB-denominated ordinary share | 146,934,857.00 | ||
| Guangdong Electronics Information Industry Group Ltd. | 122,694,246.00 | RMB-denominated ordinary share | 122,694,246.00 | ||
| Guangdong Rising Holdings Group Co., Ltd. | 83,130,898.00 | RMB-denominated ordinary share | 83,130,898.00 | ||
| Essence International Securities (Hong Kong) Limited | 38,645,124.00 | Domestically listed foreign share | 38,645,124.00 | ||
| Central Huijin Asset Management Co., Ltd. | 33,161,800.00 | RMB-denominated ordinary share | 33,161,800.00 | ||
| Rising Investment Development Limited | 25,482,252.00 | Domestically listed foreign share | 25,482,252.00 | ||
| Hong Kong Securities Clearing Company Limited | 25,009,733.00 | RMB-denominated ordinary share | 25,009,733.00 | ||
| Zhang Shaowu | 11,700,000.00 | RMB-denominated ordinary share | 11,700,000.00 | ||
| China Merchants Securities (HK) Co., Limited | 9,039,244.00 | Domestically listed foreign share | 9,039,244.00 | ||
| Related or acting-in-concert parties among the shareholders above | 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. 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 trading (if any) | None | ||||
5% or greater shareholders, top 10 shareholders and Top 10 unrestricted shareholders involved in refinancingshares lending
□Applicable ? Not applicable
Changes in top 10 shareholders and top 10 unrestricted shareholders due to refinancing shares lending/returncompared with the prior period
□Applicable ? Not applicable
(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them
□Applicable ? Not applicable
III Other Significant Events
□Applicable ? Not applicable
IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by Foshan Electrical and Lighting Co., Ltd.
31 March 2024
Unit: RMB
| Item | 31 March 2024 | 1 January 2024 |
| Current assets: | ||
| Monetary assets | 2,833,101,452.72 | 3,596,049,654.55 |
| Settlement reserve | ||
| Loans to other banks and financial institutions | ||
| Held-for-trading financial assets | 127,063,242.65 | 152,529,775.41 |
| Derivative financial assets | ||
| Notes receivable | 1,055,338,819.72 | 1,057,352,267.60 |
| Accounts receivable | 2,381,690,924.69 | 2,093,499,280.40 |
| Receivables financing | 385,082,240.27 | 443,201,960.02 |
| Prepayments | 26,945,411.10 | 34,508,638.92 |
| Premiums receivable | ||
| Reinsurance receivables | ||
| Receivable reinsurance contract reserve | ||
| Other receivables | 40,464,946.94 | 49,108,300.85 |
| Including: Interest receivable | ||
| Dividends receivable | ||
| Financial assets purchased under resale agreements | ||
| Inventories | 1,646,905,367.28 | 1,971,171,641.14 |
| Including: data resources | ||
| Contract assets | 2,366,030.73 | 4,252,013.94 |
| Assets held for sale | 17,147,339.84 | 17,147,339.84 |
| Current portion of non-current assets | ||
| Other current assets | 194,491,321.99 | 109,292,399.14 |
| Total current assets | 8,710,597,097.93 | 9,528,113,271.81 |
| Non-current assets: | ||
| Loans and advances to customers | ||
| Debt investments | ||
| Other debt investments | 1,137,475,227.53 | 454,822,905.25 |
| Long-term receivables | ||
| Long-term equity investments | 180,179,479.62 | 179,188,555.15 |
| Investments in other equity instruments | 686,949,284.85 | 699,762,746.35 |
| Other non-current financial assets | ||
| Investment property | 161,845,679.22 | 163,636,347.41 |
| Fixed assets | 3,366,822,749.15 | 3,453,214,586.47 |
| Construction in progress | 1,209,628,279.34 | 1,174,533,505.11 |
| Productive living assets | ||
| Oil and gas assets | ||
| Right-of-use assets | 8,405,429.70 | 8,812,320.64 |
| Intangible assets | 396,890,751.29 | 434,549,913.99 |
| Including: data resources | ||
| Development costs | ||
| Including: data resources | ||
| Goodwill | 421,831,593.46 | 421,831,593.46 |
| Long-term prepaid expense | 199,075,201.62 | 190,362,699.25 |
| Deferred income tax assets | 114,183,830.17 | 106,283,766.95 |
| Other non-current assets | 149,558,477.89 | 119,327,703.18 |
| Total non-current assets | 8,032,845,983.84 | 7,406,326,643.21 |
| Total assets | 16,743,443,081.77 | 16,934,439,915.02 |
| Current liabilities: | ||
| Short-term borrowings | 115,406,529.09 | 220,019,877.73 |
| Borrowings from the central bank | ||
| Loans from other banks and financial institutions | ||
| Held-for-trading financial liabilities | ||
| Derivative financial liabilities | ||
| Notes payable | 2,130,533,325.60 | 2,271,174,787.69 |
| Accounts payable | 2,791,661,140.59 | 2,875,980,206.64 |
| Advances from customers | 193,618.85 | 466,872.69 |
| Contract liabilities | 137,625,250.32 | 235,335,693.28 |
| 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 | 176,204,266.96 | 193,830,812.66 |
| Taxes and levies payable | 95,149,122.98 | 42,940,157.30 |
| Other payables | 386,631,533.18 | 362,491,923.01 |
| Including: Interest payable | ||
| Dividends payable | ||
| Fees and commissions payable | ||
| Reinsurance payables | ||
| Liabilities directly associated with assets held for sale | ||
| Current portion of non-current liabilities | 369,352,382.68 | 343,914,214.45 |
| Other current liabilities | 96,227,554.81 | 95,008,427.01 |
| Total current liabilities | 6,298,984,725.06 | 6,641,162,972.46 |
| Non-current liabilities: | ||
| Insurance contract reserve | ||
| Long-term borrowings | 304,807,255.75 | 253,093,421.29 |
| Bonds payable | ||
| Including: Preference shares | ||
| Perpetual bonds | ||
| Lease liabilities | 4,657,156.29 | 4,310,967.92 |
| Long-term payables | ||
| Long-term employee benefits payable |
| Provisions | 18,196,474.55 | 14,277,087.30 |
| Deferred income | 68,698,458.52 | 75,185,461.27 |
| Deferred income tax liabilities | 172,072,818.81 | 174,806,746.25 |
| Other non-current liabilities | 205,769.48 | |
| Total non-current liabilities | 568,432,163.92 | 521,879,453.51 |
| Total liabilities | 6,867,416,888.98 | 7,163,042,425.97 |
| Owners’ equity: | ||
| Share capital | 1,548,778,230.00 | 1,548,778,230.00 |
| Other equity instruments | ||
| Including: Preference shares | ||
| Perpetual bonds | ||
| Capital reserves | 914,336,325.66 | 914,336,325.66 |
| Less: Treasury stock | 82,165,144.15 | 82,165,144.15 |
| Other comprehensive income | 348,943,270.63 | 360,027,027.59 |
| Specific reserve | 1,719,382.45 | 1,213,325.92 |
| Surplus reserves | 107,944,679.06 | 107,944,679.06 |
| General reserve | ||
| Retained earnings | 3,519,022,584.85 | 3,435,308,364.11 |
| Total equity attributable to owners of the Company as the parent | 6,358,579,328.50 | 6,285,442,808.19 |
| Non-controlling interests | 3,517,446,864.29 | 3,485,954,680.86 |
| Total owners’ equity | 9,876,026,192.79 | 9,771,397,489.05 |
| Total liabilities and owners’ equity | 16,743,443,081.77 | 16,934,439,915.02 |
Legal representative: Wan Shan Chief Financial Officer: Tang QionglanPerson-in-charge of the Company’s accounting organ: Liang Yuefei
2. Consolidated Income Statement
Unit: RMB
| Item | Q1 2024 | Q1 2023 |
| 1. Revenues | 2,517,243,351.93 | 2,193,613,606.54 |
| Including: Operating revenue | 2,517,243,351.93 | 2,193,613,606.54 |
| Interest revenue | ||
| Insurance premium income | ||
| Fee and commission income | ||
| 2. Costs and expenses | 2,386,645,489.59 | 2,084,362,951.90 |
| Including: Cost of sales | 2,056,502,024.36 | 1,813,154,540.46 |
| 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 | 18,361,206.30 | 16,950,032.53 |
| Selling expense | 83,278,275.64 | 52,638,260.76 |
| Administrative expense | 112,552,598.62 | 97,742,566.42 |
| R&D expense | 130,242,811.21 | 98,541,775.73 |
| Finance costs | -14,291,426.54 | 5,335,776.00 |
| Including: Interest costs | 4,840,250.34 | 8,813,441.07 |
| Interest revenue | 12,831,299.72 | 11,539,895.40 |
| Add: Other income | 27,748,471.98 | 15,294,205.55 |
| Return on investment (“-” for loss) | 8,290,925.60 | 4,102,704.62 |
| Including: Share of profit or loss of joint ventures and associates | 990,924.47 | 468,407.36 |
| 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 (“-” for loss) | -466,532.76 | 2,355,332.19 |
| Credit impairment loss (“-” for loss) | -11,578,477.05 | -6,018,416.50 |
| Asset impairment loss (“-” for loss) | -23,811,074.89 | -12,009,254.31 |
| Asset disposal income (“-” for loss) | -99,108.79 | 152,323.52 |
| 3. Operating profit (“-” for loss) | 130,682,066.43 | 113,127,549.71 |
| Add: Non-operating income | 217,620.55 | 1,102,454.61 |
| Less: Non-operating expense | -182,989.99 | 2,805,527.75 |
| 4. Profit before tax (“-” for loss) | 131,082,676.97 | 111,424,476.57 |
| Less: Income tax expense | 15,957,470.97 | 20,116,039.48 |
| 5. Net profit (“-” for net loss) | 115,125,206.00 | 91,308,437.09 |
| 5.1 By operating continuity | ||
| 5.1.1 Net profit from continuing operations (“-” for net loss) | 115,125,206.00 | 91,308,437.09 |
| 5.1.2 Net profit from discontinued operations (“-” for net loss) | ||
| 5.2 By ownership | ||
| 5.2.1 Net profit attributable to owners of the Company as the parent | 83,714,220.74 | 66,221,546.43 |
| 5.2.1 Net profit attributable to non-controlling interests | 31,410,985.26 | 25,086,890.66 |
| 6. Other comprehensive income, net of tax | -11,249,041.00 | -1,178,927.49 |
| Attributable to owners of the Company as the parent | -11,083,756.96 | -1,542,425.45 |
| 6.1 Items that will not be reclassified to profit or loss | -10,891,442.27 | -1,962,252.78 |
| 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 investments in other equity instruments | -10,891,442.27 | -1,962,252.78 |
| 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 profit or loss | -192,314.69 | 419,827.33 |
| 6.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method | ||
| 6.2.2 Changes in the fair value of other debt investments | ||
| 6.2.3 Other comprehensive income arising from the reclassification of financial assets |
| 6.2.4 Credit impairment allowance for other debt investments | ||
| 6.2.5 Reserve for cash flow hedges | ||
| 6.2.6 Differences arising from the translation of foreign currency-denominated financial statements | -192,314.69 | 419,827.33 |
| 6.2.7 Other | ||
| Attributable to non-controlling interests | -165,284.04 | 363,497.96 |
| 7. Total comprehensive income | 103,876,165.00 | 90,129,509.60 |
| Attributable to owners of the Company as the parent | 72,630,463.78 | 64,679,120.98 |
| Attributable to non-controlling interests | 31,245,701.22 | 25,450,388.62 |
| 8. Earnings per share | ||
| 8.1 Basic earnings per share | 0.0545 | 0.0491 |
| 8.2 Diluted earnings per share | 0.0541 | 0.0486 |
Where business combinations under common control occurred in the current period, the net profit achieved by the acquirees beforethe combinations was RMB0.00, with the amount for the same period of last year being RMB0.00.Legal representative: Wan Shan Chief Financial Officer: Tang QionglanPerson-in-charge of the Company’s accounting organ: Liang Yuefei
3. Consolidated Cash Flow Statement
Unit: RMB
| Item | Q1 2024 | Q1 2023 |
| 1. Cash flows from operating activities: | ||
| Proceeds from sale of commodities and rendering of services | 2,069,241,779.07 | 1,755,313,840.62 |
| 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 | 41,874,360.02 | 47,283,404.19 |
| Cash generated from other operating activities | 74,500,446.97 | 60,839,027.29 |
| Subtotal of cash generated from operating activities | 2,185,616,586.06 | 1,863,436,272.10 |
| Payments for commodities and services | 1,559,871,489.82 | 1,257,371,909.59 |
| 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 | 390,430,757.95 | 350,439,220.39 |
| Taxes and levies paid | 44,761,183.74 | 90,343,198.54 |
| Cash used in other operating activities | 113,215,466.62 | 90,563,703.48 |
| Subtotal of cash used in operating activities | 2,108,278,898.13 | 1,788,718,032.00 |
| Net cash generated from/used in operating activities | 77,337,687.93 | 74,718,240.10 |
| 2. Cash flows from investing activities: | ||
| Proceeds from disinvestment | 180,000,000.00 | 20,981,292.12 |
| Return on investment | 1,746,539.59 | 15,446.65 |
| Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 29,708.48 | 356,000.00 |
| Net proceeds from the disposal of subsidiaries and other business units | ||
| Cash generated from other investing activities | ||
| Subtotal of cash generated from investing activities | 181,776,248.07 | 21,352,738.77 |
| Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 89,672,996.52 | 51,404,045.18 |
| Payments for investments | 939,000,000.00 | 130,000,000.00 |
| Net increase in pledged loans granted | ||
| Net payments for the acquisition of subsidiaries and other business units | ||
| Cash used in other investing activities | ||
| Subtotal of cash used in investing activities | 1,028,672,996.52 | 181,404,045.18 |
| Net cash generated from/used in investing activities | -846,896,748.45 | -160,051,306.41 |
| 3. Cash flows from financing activities: | ||
| Capital contributions received | ||
| Including: Capital contributions by non-controlling interests to subsidiaries | ||
| Borrowings received | 87,057,389.10 | 50,000,000.00 |
| Cash generated from other financing activities | 27,046,956.73 | 78,509,476.58 |
| Subtotal of cash generated from financing activities | 114,104,345.83 | 128,509,476.58 |
| Repayment of borrowings | 50,829,326.00 | 100,000,000.00 |
| Interest and dividends paid | 3,630,486.09 | 4,578,701.69 |
| Including: Dividends paid by subsidiaries to non-controlling interests | ||
| Cash used in other financing activities | 1,987,445.98 | 68,252.33 |
| Subtotal of cash used in financing activities | 56,447,258.07 | 104,646,954.02 |
| Net cash generated from/used in financing activities | 57,657,087.76 | 23,862,522.56 |
| 4. Effect of foreign exchange rates changes on cash and cash equivalents | 6,218,150.73 | -2,712,313.81 |
| 5. Net increase in cash and cash equivalents | -705,683,822.03 | -64,182,857.56 |
| Add: Cash and cash equivalents, beginning of the period | 3,101,252,943.88 | 1,945,971,307.26 |
| 6. Cash and cash equivalents, end of the period | 2,395,569,121.85 | 1,881,788,449.70 |
Legal representative: Wan Shan Chief Financial Officer: Tang QionglanPerson-in-charge of the Company’s accounting organ: Liang Yuefei
(II) Adjustments to Financial Statement Items at the Beginning of the Year of the First Implementationof the New Accounting Standards Implemented since 2024
□ Applicable ? Not applicable
(III) Independent Auditor’s ReportIndicate 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 DirectorsFoshan Electrical and Lighting Co., Ltd.
29 April 2024