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Stock Code: 000541, 200541 Stock Name: FSL, FSL-B Announcement No.65
FOSHAN ELECTRICAL AND LIGHTING CO., LTD.
THIRD QUARTERLY REPORT 2024Foshan Electrical and Lighting Co., Ltd. (hereinafter referred to as the “Company”) and all the membersof the Company’s Board of Directors hereby guarantee that the contents of this Report are true, accurateand 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 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
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I Key Financial Information
(I) Key Accounting Data and Financial IndicatorsIndicate whether there is any retrospectively restated datum in the table below.
□Yes ? No
| Q3 2024 | YoY change (%) | Q1-Q3 2024 | YoY change (%) | |
| Operating revenue (RMB) | 2,102,727,793.40 | -5.75% | 6,887,273,560.82 | 1.33% |
| Net profit attributable to the listed company’s shareholders (RMB) | 58,693,073.41 | -15.86% | 250,922,255.79 | 5.12% |
| Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB) | 38,987,283.45 | -21.77% | 217,830,196.22 | -5.39% |
| Net cash generated from/used in operating activities (RMB) | — | — | 571,133,616.55 | -24.21% |
| Basic earnings per share (RMB/share) | 0.0382 | -26.11% | 0.1634 | -7.63% |
| Diluted earnings per share (RMB/share) | 0.0379 | -25.98% | 0.1620 | -7.59% |
| Weighted average return on equity (%) | 0.92% | -0.44% | 3.94% | -0.65% |
| 30 September 2024 | 31 December 2023 | YoY change (%) | ||
| Total assets (RMB) | 17,321,642,323.83 | 16,934,439,915.02 | 2.29% | |
| Equity attributable to the listed company’s shareholders (RMB) | 6,395,566,168.23 | 6,285,442,808.19 | 1.75% | |
(II) Exceptional Gains and Losses? Applicable □ Not applicable
Unit: RMB
| Item | Q3 2024 | Q1-Q3 2024 | Note |
| Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) | 21,170,598.07 | 21,236,332.14 | |
| Government grants recognised in profit or loss (exclusive of those that are closely related to the Company's normal business operations and given | 8,544,869.96 | 37,492,558.66 |
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Item
| Item | Q3 2024 | Q1-Q3 2024 | Note |
| in accordance with defined criteria and in compliance with government policies, and have a continuing impact on the Company's profit or loss) | |||
| 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) | 1,416,416.91 | 4,222,201.14 | |
| Capital occupation charges on non-financial enterprises that are charged to current gains and losses | 68,205.85 | 227,313.95 | |
| Reversed portions of impairment allowances for receivables which are tested individually for impairment | 1,140,282.04 | 1,277,996.30 | |
| Income equal to the amount by which investment costs for the Company to obtain subsidiaries, associates and joint ventures are lower than the Company’s enjoyable fair value of identifiable net assets of investees when making investments | 2,131,597.43 | 2,131,597.43 | |
| Non-operating income and expense other than the above | 9,817,826.39 | 12,221,625.65 | |
| Less: Income tax effects | 6,562,455.35 | 10,497,469.99 | |
| Non-controlling interests effects (net of tax) | 18,021,551.34 | 35,220,095.71 | |
| Total | 19,705,789.96 | 33,092,059.57 | -- |
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 the
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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
| Item | Q1~Q3 2024/ 30 September 2024 | Q1~Q3 2023/ 1 January 2024 | Change (%) | Main reason for the change |
| Receivables financing | 307,824,796.41 | 443,201,960.02 | -30.55% | Decreased bank acceptance notes with higher credit ratings in the current period |
| Other receivables | 64,763,005.45 | 49,108,300.85 | 31.88% | Increased uncollected performance bonds in the current period |
| Contract assets | 12,147,588.05 | 4,252,013.94 | 185.69% | Acquisition of Hule Electrical, a sub-subsidiary not under common control, in the current period |
| Other current assets | 225,488,683.01 | 109,292,399.14 | 106.32% | Purchase of short-term bank’s wealth management products in the current period |
| Other debt investments | 1,132,260,801.33 | 454,822,905.25 | 148.95% | Purchase of a higher amount of large depository receipts in the current period |
| Investment property | 338,248,927.27 | 163,636,347.41 | 106.71% | Increased carry-forward of assets to be leased out in the current period |
| Right-of-use assets | 13,084,722.04 | 8,812,320.64 | 48.48% | Additional property leases in the current period |
| Other non-current assets | 185,511,969.44 | 119,327,703.18 | 55.46% | Increased long-term assets to be disposed of in the current period |
| Contract liabilities | 121,518,965.57 | 235,335,693.28 | -48.36% | Decreased advances from customers in the current period |
| Taxes and levies payable | 73,007,177.98 | 42,940,157.30 | 70.02% | Increase in value added tax payable in the current period |
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Item
| Item | Q1~Q3 2024/ 30 September 2024 | Q1~Q3 2023/ 1 January 2024 | Change (%) | Main reason for the change |
| Other current liabilities | 338,255,547.35 | 95,008,427.01 | 256.03% | Increased notes receivable that were endorsed but undue in the current period |
| Lease liabilities | 6,427,979.08 | 4,310,967.92 | 49.11% | Additional property leases in the current period |
| Provisions | 20,784,308.33 | 14,277,087.30 | 45.58% | Increased provisions for product warranties 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 | 5,389,623.51 | 1,213,325.92 | 344.20% | Establishment of specific reserve in the current period |
| Other income | 79,097,762.16 | 40,940,624.68 | 93.20% | Increase in government grants received in the current period |
| Return on investment | 46,575,224.07 | 19,490,163.08 | 138.97% | Increased interest income from large depository receipts in the current period |
| Gain on changes in fair value | -29,111.32 | -13,694,620.01 | 99.79% | Changes in the fair value of forward exchange settlement products as a result of currency fluctuations in the same period of last year |
| Asset disposal income | 21,473,940.85 | 12,669,744.50 | 69.49% | Increased asset disposal income in the current period |
| Non-operating income | 16,055,872.56 | 5,569,379.68 | 188.29% | Transfer from payables of subsidiary NationStar Optoelectronics that it did not need to pay and receipt of compensation and mediation payments in the current period |
| Non-operating expense | 1,940,258.19 | 5,267,434.90 | -63.17% | Higher base of loss on damage and retirement of non-current assets in the same period of last year |
| Other comprehensive income, net of tax | 39,255,823.16 | -88,509,238.19 | 144.35% | 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, net of tax attributable to owners of the Company as the parent | 39,318,194.26 | -89,542,585.21 | 143.91% | 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 | 39,391,019.21 | -90,769,609.63 | 143.40% | Increased changes in the fair value of investments in other equity instruments in the current period compared with the same period of last year |
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Item
| Item | Q1~Q3 2024/ 30 September 2024 | Q1~Q3 2023/ 1 January 2024 | Change (%) | Main reason for the change |
| Differences arising from the translation of foreign currency-denominated financial statements | -72,824.95 | 1,227,024.42 | -105.94% | Fluctuations of the RMB against foreign currencies |
| Other comprehensive income, net of tax attributable to non-controlling interests | -62,371.10 | 1,033,347.02 | -106.04% | Fluctuations of the RMB against foreign currencies |
| Total comprehensive income | 375,413,117.27 | 232,341,926.76 | 61.58% | Increased changes in the fair value of investments in other equity instruments in the current period compared with the same period of last year |
| Total comprehensive income attributable to owners of the Company as the parent | 290,240,450.05 | 149,149,215.98 | 94.60% | Increased changes in the fair value of investments in other equity instruments in the current period compared with the same period of last year |
| Net cash generated from/used in investing activities | -1,005,019,520.60 | -272,237,910.41 | -269.17% | Purchase of a higher total amount of large depository receipts and payment for the acquisition of Hule Electrical, a sub-subsidiary not under common control, in the current period |
| Net cash generated from/used in financing activities | -80,483,899.13 | -365,735,695.99 | 77.99% | Increased bank borrowings in the current period and higher amount of borrowing repayment in the same period of last year |
| Net increase in cash and cash equivalents | -502,325,725.31 | 120,085,894.40 | -518.31% | 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 | 72,024 | 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 | 12.74% | 197,338,980 | 0 | N/A | 0 |
| Prosperity Lamps & Components Limited | Foreign corporation | 9.49% | 146,934,857 | 0 | N/A | 0 |
| Guangdong Electronics Information Industry Group | State-owned corporation | 8.54% | 132,194,246 | 0 | N/A | 0 |
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| Ltd. | ||||||
| Guangdong Rising Holdings Group Co., Ltd. | State-owned corporation | 8.38% | 129,826,793 | 46,695,895 | N/A | 0 |
| Essence International Securities (Hong Kong) Limited | Foreign corporation | 2.45% | 37,981,282 | 0 | N/A | 0 |
| Central Huijin Asset Management Co., Ltd. | State-owned corporation | 2.14% | 33,161,800 | 0 | N/A | 0 |
| Rising Investment Development Limited | Foreign corporation | 1.65% | 25,482,252 | 0 | N/A | 0 |
| Zhang Shaowu | Domestic individual | 1.10% | 17,000,000 | 0 | N/A | 0 |
| Hong Kong Securities Clearing Company Limited | Foreign corporation | 0.81% | 12,504,590 | 0 | N/A | 0 |
| Zhuang Jianyi | Foreign individual | 0.77% | 11,903,509 | 8,927,632 | N/A | 0 |
| Top 10 unrestricted shareholders (exclusive of shares lent in refinancing and locked shares of executives) | ||||||
| Name of shareholder | Unrestricted shares held | Shares by class and number | ||||
| Class | Shares | |||||
| Hong Kong Wah Shing Holding Company Limited | 197,338,980 | RMB-denominated ordinary share | 188,496,430 | |||
| Domestically listed foreign share | 8,842,550 | |||||
| Prosperity Lamps & Components Limited | 146,934,857 | RMB-denominated ordinary share | 146,934,857 | |||
| Guangdong Electronics Information Industry Group Ltd. | 132,194,246 | RMB-denominated ordinary share | 132,194,246 | |||
| Guangdong Rising Holdings Group Co., Ltd. | 83,130,898 | RMB-denominated ordinary share | 83,130,898 | |||
| Essence International Securities (Hong Kong) Limited | 37,981,282 | Domestically listed foreign share | 37,981,282 | |||
| Central Huijin Asset Management Co., Ltd. | 33,161,800 | RMB-denominated ordinary share | 33,161,800 | |||
| Rising Investment Development Limited | 25,482,252 | Domestically listed foreign share | 25,482,252 | |||
| Zhang Shaowu | 17,000,000 | RMB-denominated ordinary share | 17,000,000 | |||
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| Hong Kong Securities Clearing Company Limited | 12,504,590 | RMB-denominated ordinary share | 12,504,590 | |
| China Merchants Securities (HK) Co., Limited | 8,567,891 | Domestically listed foreign share | 8,567,891 | |
| 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; Prosperity Lamps & Components Limited and Zhuang Jianyi 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
1. The project of investment in the establishment of a wholly-owned subsidiary and investment in theproduction and construction with respect to auto lamps by Liaowang Auto LampOn 27 September 2024, the Proposal on the Project of Investment in the Establishment of a Wholly-ownedSubsidiary and Investment in the Production and Construction with respect to Auto Lamps by a Majority-ownedSubsidiary was approved at the 59th Meeting of the Ninth Board of Directors. Nanning Liaowang Auto LampCo., Ltd. (“Liaowang Auto Lamp”), a majority-owned subsidiary of the Company, was agreed to invest in theestablishment of a wholly-owned subsidiary in Xiangcheng District of Suzhou City to invest in the constructionproject of an auto lamp production base, with an investment amount of approximately RMB580 million. The
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purpose of the investment is to optimise the business layout of Liaowang Auto Lamp, expand the scale ofproduction of its auto lamps, accelerate the layout and upgrading to the medium and high-end markets, andenhance market competitiveness. For further information, please refer to the Announcement on the Project ofInvestment in the Establishment of a Wholly-owned Subsidiary and Investment in the Production andConstruction with respect to Auto Lamps by a Majority-owned Subsidiary disclosed by the Company on 28September 2024 on www.cninfo.com.cn.
2. The project of the acquisition of Zhejiang Hule Electrical Equipment Manufacturing Co., Ltd. byFozhao (Hainan)Upon the execution of the relevant decision-making procedures by the Company’s wholly-owned subsidiaryFozhao (Hainan) Technology Co., Ltd. (“Fozhao (Hainan)”) and approval by the General Manager's Office ofthe Company, Fozhao (Hainan) entered into a Supplemental Agreement to the Equity Transfer Agreement withthe transferor in August 2024. As such, Fozhao (Hainan) acquired in cash a 66% interest in Zhejiang HuleElectrical Equipment Manufacturing Co., Ltd. (“Hule Electrical”), and Hule Electrical has become amajority-owned sub-subsidiary of the Company.
3. Land reserve of the Fenjiang North Road land parcel
On 6 December 2023 and 22 December 2023, the Company respectively held the 49th meeting of the 9th Boardof Directors and the Second Extraordinary General Meeting of 2023, which approved the Proposal on theDisposal of Assets of the Company and Signing of Reserve Agreement, and agreed that the Company wouldsign the Letter of Intent on Land Reserve with Foshan City Chancheng District Zumiao Street Office, and signthe State-owned Land Use Right Reserve Agreement with Foshan City Chancheng District Land Reserve Centerand Foshan City Chancheng District Zumiao Street Office. In February 2024, the Company formally signed theState-owned Land Use Right Reserve Agreement with Foshan City Chancheng District Land Reserve Centerand Foshan City Chancheng District Zumiao Street Office. After completing the preliminary land preparationwork such as demolition of buildings on the ground in accordance with relevant laws, regulations and policies,the Fenjiang North Road land parcel would be handed over in three years batch by batch for pendingexpropriation. In September 2024, after completing the preliminary land preparation work such as demolition ofbuildings on the ground for the Fenjiang North Road land parcel in accordance with relevant regulations, theCompany handed over the south section of the Fenjiang North Road land parcel to Foshan City ChanchengDistrict Land Reserve Center. The Chancheng Branch of Foshan Natural Resources Bureau has put up for salethe land parcel in the south section by public listing on 28 September 2024 at the Chancheng Branch of Foshan
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Public Resources Trading Centre. Upon the sale of the land, the Company would receive compensation for landtransfer in accordance with the agreed terms of the State-owned Land Use Right Reserve Agreement. Forfurther information, please refer to the Announcement on the Disposal of Assets of the Company and Signing ofReserve Agreement, the Announcement on Progress of the Disposal of Assets of the Company and Signing ofReserve Agreement, and the Announcement on Progress of the Disposal of Assets of the Company and thePublic Tender of Land, which were disclosed by the Company on www.cninfo.com.cn dated 7 December 2023,3 February 2024 and 30 September 2024, respectively.IV Quarterly Financial Statements(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by Foshan Electrical and Lighting Co., Ltd.
30 September 2024
Unit: RMB
| Item | 30 September 2024 | 1 January 2024 |
| Current assets: | ||
| Monetary assets | 3,082,185,753.82 | 3,596,049,654.55 |
| Settlement reserve | ||
| Loans to other banks and financial institutions | ||
| Held-for-trading financial assets | 134,059,164.09 | 152,529,775.41 |
| Derivative financial assets | ||
| Notes receivable | 1,078,281,673.52 | 1,057,352,267.60 |
| Accounts receivable | 2,252,404,978.41 | 2,093,499,280.40 |
| Receivables financing | 307,824,796.41 | 443,201,960.02 |
| Prepayments | 35,459,104.57 | 34,508,638.92 |
| Premiums receivable | ||
| Reinsurance receivables | ||
| Receivable reinsurance contract reserve | ||
| Other receivables | 64,763,005.45 | 49,108,300.85 |
| Including: Interest receivable | ||
| Dividends receivable | ||
| Financial assets purchased under resale agreements | ||
| Inventories | 1,920,966,682.98 | 1,971,171,641.14 |
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Item
| Item | 30 September 2024 | 1 January 2024 |
| Including: data resources | ||
| Contract assets | 12,147,588.05 | 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 | 225,488,683.01 | 109,292,399.14 |
| Total current assets | 9,130,728,770.15 | 9,528,113,271.81 |
| Non-current assets: | ||
| Loans and advances to customers | ||
| Debt investments | ||
| Other debt investments | 1,132,260,801.33 | 454,822,905.25 |
| Long-term receivables | ||
| Long-term equity investments | 180,584,857.48 | 179,188,555.15 |
| Investments in other equity instruments | 746,105,121.90 | 699,762,746.35 |
| Other non-current financial assets | ||
| Investment property | 338,248,927.27 | 163,636,347.41 |
| Fixed assets | 3,324,371,531.57 | 3,453,214,586.47 |
| Construction in progress | 1,053,495,186.60 | 1,174,533,505.11 |
| Productive living assets | ||
| Oil and gas assets | ||
| Right-of-use assets | 13,084,722.04 | 8,812,320.64 |
| Intangible assets | 442,968,548.26 | 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 | 227,776,762.30 | 190,362,699.25 |
| Deferred income tax assets | 124,673,532.03 | 106,283,766.95 |
| Other non-current assets | 185,511,969.44 | 119,327,703.18 |
| Total non-current assets | 8,190,913,553.68 | 7,406,326,643.21 |
| Total assets | 17,321,642,323.83 | 16,934,439,915.02 |
| Current liabilities: | ||
| Short-term borrowings | 169,250,839.17 | 220,019,877.73 |
| Borrowings from the central bank |
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Item
| Item | 30 September 2024 | 1 January 2024 |
| Loans from other banks and financial institutions | ||
| Held-for-trading financial liabilities | ||
| Derivative financial liabilities | ||
| Notes payable | 1,945,081,521.15 | 2,271,174,787.69 |
| Accounts payable | 3,058,856,982.81 | 2,875,980,206.64 |
| Advances from customers | 596,261.77 | 466,872.69 |
| Contract liabilities | 121,518,965.57 | 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 | 224,650,011.39 | 193,830,812.66 |
| Taxes and levies payable | 73,007,177.98 | 42,940,157.30 |
| Other payables | 446,230,473.64 | 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 | 385,226,847.40 | 343,914,214.45 |
| Other current liabilities | 338,255,547.35 | 95,008,427.01 |
| Total current liabilities | 6,762,674,628.23 | 6,641,162,972.46 |
| Non-current liabilities: | ||
| Insurance contract reserve | ||
| Long-term borrowings | 277,886,376.26 | 253,093,421.29 |
| Bonds payable | ||
| Including: Preference shares | ||
| Perpetual bonds | ||
| Lease liabilities | 6,427,979.08 | 4,310,967.92 |
| Long-term payables | ||
| Long-term employee benefits payable | ||
| Provisions | 20,784,308.33 | 14,277,087.30 |
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Item
| Item | 30 September 2024 | 1 January 2024 |
| Deferred income | 69,410,782.03 | 75,185,461.27 |
| Deferred income tax liabilities | 187,110,155.27 | 174,806,746.25 |
| Other non-current liabilities | 205,769.48 | |
| Total non-current liabilities | 561,619,600.97 | 521,879,453.51 |
| Total liabilities | 7,324,294,229.20 | 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 | 399,345,221.85 | 360,027,027.59 |
| Specific reserve | 5,389,623.51 | 1,213,325.92 |
| Surplus reserves | 107,944,679.06 | 107,944,679.06 |
| General reserve | ||
| Retained earnings | 3,501,937,232.30 | 3,435,308,364.11 |
| Total equity attributable to owners of the Company as the parent | 6,395,566,168.23 | 6,285,442,808.19 |
| Non-controlling interests | 3,601,781,926.40 | 3,485,954,680.86 |
| Total owners’ equity | 9,997,348,094.63 | 9,771,397,489.05 |
| Total liabilities and owners’ equity | 17,321,642,323.83 | 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 for Q1~Q3
Unit: RMB
| Item | Q1~Q3 2024 | Q1~Q3 2023 |
| 1. Revenues | 6,887,273,560.82 | 6,797,008,003.68 |
| Including: Operating revenue | 6,887,273,560.82 | 6,797,008,003.68 |
| Interest income | ||
| Insurance premium income | ||
| Fee and commission income |
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Item
| Item | Q1~Q3 2024 | Q1~Q3 2023 |
| 2. Costs and expenses | 6,603,913,211.15 | 6,420,801,736.12 |
| Including: Cost of sales | 5,573,521,449.18 | 5,535,973,386.78 |
| 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 | 57,229,904.62 | 56,954,464.79 |
| Selling expense | 247,090,723.82 | 203,017,067.09 |
| Administrative expense | 344,152,454.09 | 299,817,354.12 |
| R&D expense | 412,737,821.41 | 359,659,339.75 |
| Finance costs | -30,819,141.97 | -34,619,876.41 |
| Including: Interest expense | 16,344,079.84 | 19,331,634.25 |
| Interest income | 41,280,269.74 | 38,170,763.00 |
| Add: Other income | 79,097,762.16 | 40,940,624.68 |
| Return on investment (“-” for loss) | 46,575,224.07 | 19,490,163.08 |
| Including: Share of profit or loss of joint ventures and associates | 1,396,302.33 | 1,558,105.76 |
| 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) | -29,111.32 | -13,694,620.01 |
| Credit impairment loss (“-” for loss) | -31,784,287.66 | -30,867,217.69 |
| Asset impairment loss (“-” for loss) | -48,898,832.11 | -45,751,119.19 |
| Asset disposal income (“-” for loss) | 21,473,940.85 | 12,669,744.50 |
| 3. Operating profit (“-” for loss) | 349,795,045.66 | 358,993,842.93 |
| Add: Non-operating income | 16,055,872.56 | 5,569,379.68 |
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Item
| Item | Q1~Q3 2024 | Q1~Q3 2023 |
| Less: Non-operating expense | 1,940,258.19 | 5,267,434.90 |
| 4. Gross profit (“-” for loss) | 363,910,660.03 | 359,295,787.71 |
| Less: Income tax expense | 27,753,365.92 | 38,444,622.76 |
| 5. Net profit (“-” for net loss) | 336,157,294.11 | 320,851,164.95 |
| 5.1 By operating continuity | ||
| 5.1.1 Net profit from continuing operations (“-” for net loss) | 336,157,294.11 | 320,851,164.95 |
| 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 parent (“-” for net loss) | 250,922,255.79 | 238,691,801.19 |
| 5.2.2 Net profit attributable to non-controlling interests (“-” for net loss) | 85,235,038.32 | 82,159,363.76 |
| 6. Other comprehensive income, net of tax | 39,255,823.16 | -88,509,238.19 |
| Attributable to owners of the Company as the parent | 39,318,194.26 | -89,542,585.21 |
| 6.1 Items that will not be reclassified to profit or loss | 39,391,019.21 | -90,769,609.63 |
| 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 | 39,391,019.21 | -90,769,609.63 |
| 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 | -72,824.95 | 1,227,024.42 |
| 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 | -72,824.95 | 1,227,024.42 |
| 6.2.7 Other |
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Item
| Item | Q1~Q3 2024 | Q1~Q3 2023 |
| Attributable to non-controlling interests | -62,371.10 | 1,033,347.02 |
| 7. Total comprehensive income | 375,413,117.27 | 232,341,926.76 |
| 7.1 Attributable to owners of the Company as the parent | 290,240,450.05 | 149,149,215.98 |
| 7.2 Attributable to non-controlling interests | 85,172,667.22 | 83,192,710.78 |
| 8. Earnings per share | ||
| 8.1 Basic earnings per share | 0.1634 | 0.1769 |
| 8.2 Diluted earnings per share | 0.1620 | 0.1753 |
Where business combinations under common control occurred in the current period, the net profit achieved bythe acquirees before the combinations was RMB0.00, with the amount for the same period of last year beingRMB0.00.Legal representative: Wan Shan Chief Financial Officer: Tang QionglanPerson-in-charge of the Company’s accounting organ: Liang Yuefei
3. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
| Item | Q1~Q3 2024 | Q1~Q3 2023 |
| 1. Cash flows from operating activities: | ||
| Proceeds from sale of commodities and rendering of services | 6,382,134,539.43 | 5,975,682,602.93 |
| 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 | 132,299,754.21 | 164,019,398.33 |
| Cash generated from other operating activities | 199,368,180.81 | 193,974,038.74 |
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Item
| Item | Q1~Q3 2024 | Q1~Q3 2023 |
| Subtotal of cash generated from operating activities | 6,713,802,474.45 | 6,333,676,040.00 |
| Payments for commodities and services | 4,496,493,532.75 | 4,036,894,176.40 |
| Net increase in loans and advances to customers | ||
| Net increase in deposits in the central bank and other banks and financial institutions | ||
| Payments for claims on original insurance contracts | ||
| Net increase in loans to other banks and financial institutions | ||
| Interest, fees and commissions paid | ||
| Policy dividends paid | ||
| Cash paid to and for employees | 1,086,677,957.96 | 1,035,295,184.09 |
| Taxes and levies paid | 244,998,020.42 | 305,559,029.37 |
| Cash used in other operating activities | 314,499,346.77 | 202,361,428.42 |
| Subtotal of cash used in operating activities | 6,142,668,857.90 | 5,580,109,818.28 |
| Net cash generated from/used in operating activities | 571,133,616.55 | 753,566,221.72 |
| 2. Cash flows from investing activities: | ||
| Proceeds from disinvestment | 430,000,000.00 | 220,981,292.12 |
| Return on investment | 25,411,998.70 | 15,446,758.01 |
| Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 29,412,095.54 | 1,595,864.64 |
| Net proceeds from the disposal of subsidiaries and other business units | ||
| Cash generated from other investing activities | ||
| Subtotal of cash generated from investing activities | 484,824,094.24 | 238,023,914.77 |
| Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 260,307,678.16 | 219,901,065.19 |
| Payments for investments | 1,174,000,000.00 | 290,000,000.00 |
| Net increase in pledged loans granted | ||
| Net payments for the acquisition of subsidiaries and other business units | 55,535,936.68 | |
| Cash used in other investing activities | 360,759.99 | |
| Subtotal of cash used in investing activities | 1,489,843,614.84 | 510,261,825.18 |
| Net cash generated from/used in investing activities | -1,005,019,520.60 | -272,237,910.41 |
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Item
| Item | Q1~Q3 2024 | Q1~Q3 2023 |
| 3. Cash flows from financing activities: | ||
| Capital contributions received | ||
| Including: Capital contributions by non-controlling interests to subsidiaries | ||
| Borrowings received | 238,828,726.86 | 143,185,218.89 |
| Cash generated from other financing activities | 58,412,450.44 | 40,461,306.66 |
| Subtotal of cash generated from financing activities | 297,241,177.30 | 183,646,525.55 |
| Repayment of borrowings | 138,097,169.56 | 366,489,526.02 |
| Interest and dividends paid | 229,484,182.41 | 182,483,084.25 |
| Including: Dividends paid by subsidiaries to non-controlling interests | 32,714,218.04 | 31,969,754.99 |
| Cash used in other financing activities | 10,143,724.46 | 409,611.27 |
| Subtotal of cash used in financing activities | 377,725,076.43 | 549,382,221.54 |
| Net cash generated from/used in financing activities | -80,483,899.13 | -365,735,695.99 |
| 4. Effect of foreign exchange rates changes on cash and cash equivalents | 12,044,077.87 | 4,493,279.08 |
| 5. Net increase in cash and cash equivalents | -502,325,725.31 | 120,085,894.40 |
| 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 | 2,598,927,218.57 | 2,066,057,201.66 |
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 applicableNote to adjustmentsIn March 2024, the Accounting Regulatory Department of Ministry of Finance of the People’s Republic ofChina (hereinafter referred to as the “Ministry of Finance”) prepared and issued the Compilation of ApplicationGuidance for Accounting Standards for Business Enterprises 2024 (hereinafter referred to as the “Compilationof Application Guidance 2024”), which clarifies the provisions of “Presentation of Estimated Liabilities Arisingfrom Guarantee-Type Quality Assurance”. The Company has implemented the aforesaid provisions since 1January 2024, and has made corresponding adjustments to the financial statement data of the comparableperiods by adopting the retrospective adjustment method. Details of the adjustments are as follows:
Unit: RMB
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Item
| Item | Consolidated income statement | |||||
| Q1~Q3 2024 | Q1~Q3 2023 | |||||
| Before | After | Adjusted | Before | After | Adjusted | |
| Cost of sales | 5,553,458,702.93 | 5,573,521,449.18 | 20,062,746.25 | 5,527,480,367.80 | 5,535,973,386.78 | 8,493,018.98 |
| Selling expense | 267,153,470.07 | 247,090,723.82 | -20,062,746.25 | 211,510,086.07 | 203,017,067.09 | -8,493,018.98 |
(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.
28 October 2024