Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2018
FOSHAN ELECTRICAL AND LIGHTING CO., LTD.
FIRST QUARTER REPORT 2018
April 2018
Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2018
Part I Important Notes
The Board of Directors (or the “Board”), the Supervisory Board as well as the Directors,
Supervisors and senior management of Foshan Electrical and Lighting Co., Ltd. (inclusive of
its consolidated subsidiaries, the “Company”; exclusive of its subsidiaries, the “Parent
Company”, except where the context otherwise requires) hereby guarantee the factuality,
accuracy and completeness of the contents of this Report, and shall be jointly and severally
liable for any misrepresentations, misleading statements or material omissions in this Report.
All the Company’s Directors have attended the Board meeting for the review of this Report.
He Yong, the Company’s legal representative, Liu Xingming, the Company’s General
Manager, and Tang Qionglan, the Company’s Chief Financial Officer (CFO) hereby
guarantee that the Financial Statements carried in this Report are factual, accurate and
complete.
This Report has been prepared in both Chinese and English. Should there be any
discrepancies or misunderstandings between the two versions, the Chinese version shall
prevail.
Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2018
Part II Key Corporate Information
I Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
January-March 2018 January-March 2017 Change
Sales revenue (RMB) 1,123,376,512.26 1,093,649,938.81 2.72%
Net income attributable to shareholders of
96,552,712.99 119,874,574.94 -19.46%
the listed company (RMB)
Net income attributable to shareholders of
the listed company before nonrecurring 96,033,861.87 119,491,016.83 -19.63%
gains and losses (RMB)
Net cash flows from operating activities
124,450,627.91 -50,923,130.47 344.39%
(RMB)
Basic earnings per share (RMB/share) 0.0759 0.0942 -19.43%
Diluted earnings per share (RMB/share) 0.0759 0.0942 -19.43%
Weighted average return on equity (%) 2.00% 2.36% -0.36%
March 31, 2018 December 31, 2017 Change
Total assets (RMB) 5,832,891,424.79 5,675,811,824.29 2.77%
Equity attributable to shareholders of the
4,866,480,716.15 4,779,115,459.39 1.83%
listed company (RMB)
Nonrecurring gains and losses:
√ Applicable □ Not applicable
Unit: RMB
Item January-March 2018 Note
Profit/loss on disposal of non-current assets (including offset asset
138,319.48
impairment provisions)
Government subsidies charged to the profit/loss for this Reporting
Period (except for the government grants closely related to the
525,949.98
business of the Company and given at a fixed quota or amount in
accordance with the State’s uniform standards)
Non-operating income and expense other than above -44,777.96
Less: Income tax effects 97,590.50
Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2018
Non-controlling interests effects (net of tax) 3,049.88
Total 518,851.12 --
Explanation of why the Company classifies an item as a nonrecurring gain/loss according to the definition in the
Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Nonrecurring Gains and Losses, or reclassifies any nonrecurring gain/loss item listed in the said
explanatory announcement as a recurring gain/loss:
□ Applicable √ Not applicable
No such cases for the Reporting Period.
II Total Number of Shareholders and Top 10 Shareholders’ Holdings at Period-End
1. Numbers of Common Shareholders and Preferred Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
Preferred shareholders with
Common shareholders at
90,239 resumed voting rights at
period-end
period-end (if any)
Top 10 shareholders
Shareholding Pledged or frozen shares
Name of Nature of
percentage at Shares Restricted shares
shareholder shareholder Status Shares
period-end (%)
Hong Kong Wah
Shing Holding Foreign juridical
13.47% 171,360,391 Pledged 83,966,592
Company person
Limited
Prosperity Lamps
Foreign juridical
& Components 10.50% 133,577,143
person
Limited
Shenzhen Rising
Investment State-owned
5.12% 65,178,305 Pledged 23,000,000
Development juridical person
Co., Ltd.
Guangdong
Electronics
State-owned
Information 4.74% 60,357,728 Pledged 29,575,287
juridical person
Industry Group
Ltd.
Central Huijin
State-owned
Asset 2.42% 30,799,000
juridical person
Management Co.,
Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2018
Ltd.
Essence
International Foreign juridical
2.03% 25,796,350
Securities (Hong person
Kong) Co., Ltd.
Hong Kong
Rising
Foreign juridical
Investment 1.82% 23,165,684
person
Development
Co., Ltd.
DBS Vickers
Foreign juridical
(Hong Kong) Ltd 1.73% 21,979,814
person
A/C Clients
China Merchants
Foreign juridical
Securities (Hong 0.86% 10,968,061
person
Kong) Co., Ltd
Foreign natural
Zhuang Jianyi 0.85% 10,821,372 8,116,029
person
Top 10 non-restricted shareholders
Type of shares
Name of shareholder Non-restricted shares held at period-end
Type Shares
Hong Kong Wah Shing Holding RMB common
171,360,391 171,360,391
Company Limited stock
Prosperity Lamps & Components RMB common
133,577,143 133,577,143
Limited stock
Shenzhen Rising Investment RMB common
65,178,305 65,178,305
Development Co., Ltd. stock
Guangdong Electronics Information RMB common
60,357,728 60,357,828
Industry Group Ltd. stock
Central Huijin Asset Management RMB common
30,799,000 30,799,000
Co., Ltd. stock
Domestically
Essence International Securities
25,796,350 listed stock for 25,796,350
(Hong Kong) Co., Ltd.
foreign investors
Domestically
Hong Kong Rising Investment
23,165,684 listed stock for 23,165,684
Development Co., Ltd.
foreign investors
DBS Vickers (Hong Kong) Ltd A/C Domestically
21,979,814 21,979,814
Clients listed stock for
Foshan Electrical and Lighting Co., Ltd. First Quarter Report 2018
foreign investors
Domestically
China Merchants Securities (Hong
10,968,061 listed stock for 10,968,061
Kong) Co., Ltd
foreign investors
RMB common
Peng Weiyan 9,036,588 9,036,588
stock
Among the top 10 shareholders, Hong Kong Wah Shing Holding Company Limited,
Shenzhen Rising Investment Development Co., Ltd., Guangdong Electronics Information
Industry Group Ltd. and Hong Kong Rising Investment Development Co., Ltd. are
Related or acting-in-concert parties
acting-in-concert parties; and Prosperity Lamps & Components Limited and Zhuang Jianyi
among shareholders above
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.
Among the top 10 non-restricted shareholders, natural person shareholder Peng Weiyan holds
Shareholders conducting securities
0 share through common securities account, and holds 9,036,588 shares through an account
margin trading (if any)
of collateral securities for margin trading, where the total shares is 9,036,588.
Indicate by tick mark whether any of the top 10 common shareholders or the top 10 non-restricted common
shareholders of the Company conducted any promissory repo during the Reporting Period.
□ Yea √ No
No such cases in the Reporting Period.
2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
Part III Significant Events
I Changes in Selected Financial Statement Items and Explanation of why
√ Applicable □ Not applicable
Unit: RMB
December 31,
March 31, 2018/
2017/
Item January-March Change Explanation of why
January-March
Notes receivable 92,278,225.76 68,368,192.41 34.97% Increase in bank acceptance bills
received
Accounts 959,570,744.31 756,291,432.56 26.88% Increase in undue accounts
receivable receivable from increased sales
revenue
Construction in 219,371,338.54 162,814,991.68 34.74% Increased investment in Gaoming
progress plant expansion
Taxes payable 52,342,529.05 27,350,670.40 91.38% Increase in VAT payable
Taxes and surtaxes 14,410,687.99 9,755,058.67 47.73% Increase in surtax driven by higher
VAT payable
Selling expense 55,410,407.71 38,400,329.73 44.30% Increases in transportation expense
and business promotion expense
driven by growing sales
Finance costs 5,223,638.39 -5,743,864.20 190.94% Increase in foreign exchange loss
caused by appreciation of RMB
Asset impairment 6,299,423.27 22,650,361.26 -72.19% Decrease in allowance for
losses inventory impairment
Investment income 7,509,169.19 2,646,308.80 183.76% Increase in income from
investments in bank’s wealth
management products
Other income 355,982.00 26,000.00 1269.16% Increase in government subsidy
arising from the Company’s
ordinary course of business
Non-operating 692,142.62 1,419,858.46 -51.25% Decrease in government subsidy
revenue irrelevant to operating activities
Non-operating 72,651.12 1,009,565.36 -92.80% Decrease in loss on disposal of
expense non-current assets
Net income 2,600,282.32 1,930,823.27 34.67% Increase in income of
attributable to non-wholly-owned subsidiary
non-controlling
interests
Other -9,187,456.23 78,619,675.02 -111.69% Decrease in Guoxuan High-tech
comprehensive shares held by the Company
income, net of tax caused by some sales in Q3 2017
Total 89,965,539.08 200,425,073.23 -55.11% and decrease in fair value of
comprehensive available-for-sale financial assets
income
Net cash flows 124,450,627.91 -50,923,130.47 344.39% Effect of income tax paid in
from operating January-March 2017 for sale of
activities shareholdings
Net cash flows -54,668,249.60 -29,321,560.03 -86.44% Increased investment in property,
from investing plant and equipment
activities
Net cash flows 0.00 -5,660,290.78 100.00% Effect of dividends distributed by
from financing subsidiary in January-March 2017
activities
Net increase in 66,459,645.26 -85,456,559.66 177.77% Increase in net cash flows from
cash and cash operating activities
equivalents
Cash and cash 636,643,854.22 1,393,827,082.88 -54.32% Increase in undue bank’s wealth
equivalents, end of management products
the period
II Progress, Influence and Solutions Associated with Significant Events
□ Applicable √ Not applicable
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties and
Acquirers, as well as the Company and Other Commitment Makers, Failed to Fulfill on Time
during Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV Operating Result Forecast for January-June 2018
Warning of a forecast loss on or a forecast significant year-over-year change in net income for January-June 2018,
as well as explanation of why:
□ Applicable √ Not applicable
V Securities Investments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VI Investments in Derivative Financial Instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VII Visits Paid to the Company for Purposes of Research, Communication, Interview, etc.
during Reporting Period
√ Applicable □ Not applicable
Date of visit Way of visit Type of visitor About
01/04/2018 By one-on-one meeting Institution Cninf-Interactive-Investor Relations
01/18/2018 By one-on-one meeting Institution Cninf-Interactive-Investor Relations
VIII Irregularities in Provision of Guarantees for External Parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Occupation of the Company’s Money by Its Controlling Shareholder or Related Parties
for Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by Foshan Electrical and Lighting Co., Ltd.
March 31, 2018
Unit: RMB
Item March 31, 2018 December 31, 2017
Current assets:
Monetary assets 636,643,854.22 570,184,208.96
Settlement reserve
Interbank loans granted
Financial assets at fair value through
profit or loss
Derivative financial assets
Notes receivable 92,278,225.76 68,368,192.41
Accounts receivable 959,570,744.31 756,291,432.56
Prepayments 30,846,692.77 33,095,313.35
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Interest receivable 11,010,654.12 12,428,451.86
Dividends receivable
Other receivables 20,627,107.58 21,215,215.15
Financial assets purchased under
resale agreements
Inventories 588,148,362.16 746,466,889.87
Assets classified as held for sale
Current portion of non-current assets
Other current assets 995,886,865.32 1,006,062,102.56
Total current assets 3,335,012,506.24 3,214,111,806.72
Non-current assets:
Loans and advances to customers
Available-for-sale financial assets 1,379,774,070.47 1,390,581,536.60
Held-to-maturity investments
Long-term receivables
Long-term equity investments 175,977,383.25 179,414,105.14
Investment property
Property, plant and equipment 481,932,461.91 483,520,866.64
Construction in progress 219,371,338.54 162,814,991.68
Construction materials
Proceeds from disposal of property,
plant and equipment
Productive living assets
Oil and gas assets
Intangible assets 154,365,815.93 155,544,720.36
R&D expense
Goodwill
Long-term prepaid expense 8,124,534.65 9,088,933.56
Deferred income tax assets 35,850,835.80 37,675,828.79
Other non-current assets 42,482,478.00 43,059,034.80
Total non-current assets 2,497,878,918.55 2,461,700,017.57
Total assets 5,832,891,424.79 5,675,811,824.29
Current liabilities:
Short-term borrowings
Borrowings from central bank
Customer deposits and deposits from
banks and other financial institutions
Interbank loans obtained
Financial liabilities at fair value
through profit or loss
Derivative financial liabilities
Notes payable
Accounts payable 605,469,180.54 539,303,554.54
Advances from customers 38,641,032.65 48,706,778.49
Financial assets sold under
repurchase agreements
Handling charges and commissions
payable
Payroll payable 66,484,870.05 81,948,630.59
Taxes payable 52,342,529.05 27,350,670.40
Interest payable
Dividends payable
Other payables 43,694,442.08 40,548,489.03
Reinsurance payables
Insurance contract reserve
Payables for trading of securities
Payables for underwriting of
securities
Liabilities directly associated with
assets classified as held for sale
Current portion of non-current
liabilities
Other current liabilities
Total current liabilities 806,632,054.37 737,858,123.05
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preferred shares
Perpetual bonds
Long-term payables
Long-term payroll payable
Specific payables
Provisions
Deferred income 11,819,580.51 11,858,330.49
Deferred income tax liabilities 124,839,131.04 126,460,250.96
Other non-current liabilities
Total non-current liabilities 136,658,711.55 138,318,581.45
Total liabilities 943,290,765.92 876,176,704.50
Owners’ equity:
Share capital 1,272,132,868.00 1,272,132,868.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves 285,821,459.07 285,821,459.07
Less: Treasury shares
Other comprehensive income 707,419,877.55 716,607,333.78
Specific reserve
Surplus reserves 772,953,002.36 772,953,002.36
General reserve
Retained earnings 1,828,153,509.17 1,731,600,796.18
Total equity attributable to owners of
4,866,480,716.15 4,779,115,459.39
Parent Company
Non-controlling interests 23,119,942.72 20,519,660.40
Total owners’ equity 4,889,600,658.87 4,799,635,119.79
Total liabilities and owners’ equity 5,832,891,424.79 5,675,811,824.29
Legal representative: He Yong General manager: Liu Xingming CFO: Tang Qionglan
2. Parent Company Balance Sheet
Unit: RMB
Item March 31, 2018 December 31, 2017
Current assets:
Monetary assets 553,127,826.68 502,169,100.40
Financial assets at fair value through
profit or loss
Derivative financial assets
Notes receivable 91,778,225.76 67,268,192.41
Accounts receivable 938,367,563.12 747,430,159.61
Prepayments 65,610,359.90 70,580,941.09
Interest receivable 8,828,070.80 9,744,035.20
Dividends receivable
Other receivables 54,736,862.03 42,174,877.89
Inventories 530,829,118.01 670,527,529.71
Assets classified as held for sale
Current portion of non-current assets
Other current assets 768,393,182.81 777,495,203.31
Total current assets 3,011,671,209.11 2,887,390,039.62
Non-current assets:
Available-for-sale financial assets 1,379,774,070.47 1,390,581,536.60
Held-to-maturity investments
Long-term receivables
Long-term equity investments 659,770,485.51 663,207,207.40
Investment property
Property, plant and equipment 403,881,979.18 404,667,257.11
Construction in progress 217,155,426.94 161,024,975.28
Construction materials
Proceeds from disposal of property,
plant and equipment
Productive living assets
Oil and gas assets
Intangible assets 110,960,260.10 112,251,734.86
R&D expense
Goodwill
Long-term prepaid expense 7,351,634.26 8,209,699.77
Deferred income tax assets 31,189,406.90 32,985,075.62
Other non-current assets 42,113,490.00 42,661,573.80
Total non-current assets 2,852,196,753.36 2,815,589,060.44
Total assets 5,863,867,962.47 5,702,979,100.06
Current liabilities:
Short-term borrowings
Financial liabilities at fair value
through profit or loss
Derivative financial liabilities
Notes payable
Accounts payable 803,527,879.75 719,912,246.75
Advances from customers 35,361,984.74 47,306,971.94
Payroll payable 43,241,321.39 60,345,714.81
Taxes payable 36,626,598.06 13,294,037.24
Interest payable
Dividends payable
Other payables 111,888,855.02 96,824,757.90
Liabilities directly associated with
assets classified as held for sale
Current portion of non-current
liabilities
Other current liabilities
Total current liabilities 1,030,646,638.96 937,683,728.64
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preferred shares
Perpetual bonds
Long-term payables
Long-term payroll payable
Specific payables
Provisions
Deferred income 11,548,330.26 11,548,330.26
Deferred income tax liabilities 124,839,131.04 126,460,250.96
Other non-current liabilities
Total non-current liabilities 136,387,461.30 138,008,581.22
Total liabilities 1,167,034,100.26 1,075,692,309.86
Owners’ equity:
Share capital 1,272,132,868.00 1,272,132,868.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves 293,425,065.15 293,425,065.15
Less: Treasury shares
Other comprehensive income 707,421,742.57 716,608,088.78
Specific reserve
Surplus reserves 772,953,002.36 772,953,002.36
Retained earnings 1,650,901,184.13 1,572,167,765.91
Total owners’ equity 4,696,833,862.21 4,627,286,790.20
Total liabilities and owners’ equity 5,863,867,962.47 5,702,979,100.06
Legal representative: He Yong General manager: Liu Xingming CFO: Tang Qionglan
3. Consolidated Income Statement
Unit: RMB
Item January-March 2018 January-March 2017
1. Operating revenue 1,123,376,512.26 1,093,649,938.81
Including: Sales revenue 1,123,376,512.26 1,093,649,938.81
Interest revenue
Premium revenue
Handling charge and commission
revenue
2. Cost of operating revenue 1,012,171,251.73 951,661,802.26
Including: Cost of sales 874,409,768.15 830,819,079.30
Interest expense
Handling charge and commission
expense
Surrenders
Net claims paid
Net amount provided as insurance
contract reserve
Expenditure on policy dividends
Reinsurance premium expense
Taxes and surtaxes 14,410,687.99 9,755,058.67
Selling expense 55,410,407.71 38,400,329.73
Administrative expense 56,417,326.22 55,780,837.50
Finance costs 5,223,638.39 -5,743,864.20
Asset impairment losses 6,299,423.27 22,650,361.26
Add: Gains on changes in fair value (“-”
for losses)
Investment income (“-” for loss) 7,509,169.19 2,646,308.80
Including: Share of profit or loss of
-316,136.14 2,939.30
joint ventures and associates
Foreign exchange gains (“-” for losses)
Asset disposal income (“-” for loss)
Other income 355,982.00 26,000.00
3. Operating income (“-” for loss) 119,070,411.72 144,660,445.35
Add: Non-operating revenue 692,142.62 1,419,858.46
Less: Non-operating expense 72,651.12 1,009,565.36
4. Pretax income (“-” for loss) 119,689,903.22 145,070,738.45
Less: Income tax expense 20,536,907.91 23,265,340.24
5. Net income (“-” for net loss) 99,152,995.31 121,805,398.21
5.1 Net income from continuing
99,152,995.31 121,805,398.21
operations (“-” for net loss)
5.2 Net income from discontinued
operations (“-” for net loss)
Attributable to owners of Parent
96,552,712.99 119,874,574.94
Company
Attributable to non-controlling
2,600,282.32 1,930,823.27
interests
6. Other comprehensive income, net of
-9,187,456.23 78,619,675.02
tax
Attributable to owners of Parent
-9,187,456.23 78,619,675.02
Company
6.1 Items that will not be
reclassified to profit or loss
6.1.1 Changes in net liabilities or
assets caused by remeasurements on
defined benefit pension schemes
6.1.2 Share of other
comprehensive income of investees that
will not be reclassified to profit or loss
under equity method
6.2 Items that may subsequently be
-9,187,456.23 78,619,675.02
reclassified to profit or loss
6.2.1 Share of other
comprehensive income of investees that
will be reclassified to profit or loss under
equity method
6.2.2 Gains/Losses on changes in
fair value of available-for-sale financial -9,186,346.21 78,619,675.02
assets
6.2.3 Gains/Losses arising from
reclassification of held-to-maturity
investments to available-for-sale financial
assets
6.2.4 Effective gains/losses on
cash flow hedges
6.2.5 Differences arising from
translation of foreign -1,110.02
currency-denominated financial
statements
6.2.6 Other
Attributable to non-controlling
interests
7. Total comprehensive income 89,965,539.08 200,425,073.23
Attributable to owners of Parent
87,365,256.76 198,494,249.96
Company
Attributable to non-controlling
2,600,282.32 1,930,823.27
interests
8. Earnings per share
8.1 Basic earnings per share 0.0759 0.0942
8.2 Diluted earnings per share 0.0759 0.0942
Where business mergers under the same control occurred in the current period, the net income achieved by the merged parties before
the business mergers was RMB0.00, with the amount for the same period of last year being RMB0.00.
Legal representative: He Yong General manager: Liu Xingming CFO: Tang Qionglan
4. Parent Company Income Statement
Unit: RMB
Item January-March 2018 January-March 2017
1. Sales revenue 1,067,787,968.82 1,065,186,916.21
Less: Cost of sales 858,449,485.00 830,329,549.74
Taxes and surtaxes 12,057,313.68 6,876,291.73
Selling expense 48,345,146.83 35,427,725.59
Administrative expense 51,877,588.76 49,721,540.15
Finance costs 5,409,152.86 -4,394,600.15
Asset impairment losses 5,508,500.39 21,943,712.75
Add: Gains on changes in fair value
(“-” for losses)
Investment income (“-” for loss) 5,613,752.53 2,202,183.81
Including: Share of profit or loss
-316,136.14 2,939.30
of joint ventures and associates
Asset disposal income (“-” for
loss)
Other income 355,982.00 26,000.00
2. Operating income (“-” for loss) 92,110,515.83 127,510,880.21
Add: Non-operating revenue 645,474.35 1,236,962.66
Less: Non-operating expense 72,650.61 706,740.75
3. Pretax income (“-” for loss) 92,683,339.57 128,041,102.12
Less: Income tax expense 13,949,921.35 19,206,165.33
4. Net income (“-” for net loss) 78,733,418.22 108,834,936.79
4.1 Net income from continuing
78,733,418.22 108,834,936.79
operations (“-” for net loss)
4.2 Net income from discontinued
operations (“-” for net loss)
5. Other comprehensive income, net of
-9,186,346.21 78,619,675.02
tax
5.1 Items that will not be reclassified
to profit or loss
5.1.1 Changes in net liabilities or
assets caused by re-measurements on
defined benefit pension schemes
5.1.2 Share of other
comprehensive income of investees that
will not be reclassified into profit or
loss under equity method
5.2 Items that may subsequently be
-9,186,346.21 78,619,675.02
reclassified to profit or loss
5.2.1 Share of other
comprehensive income of investees that
will be reclassified into profit or loss
under equity method
5.2.2 Gains/Losses on changes in
fair value of available-for-sale financial -9,186,346.21 78,619,675.02
assets
5.2.3 Gains/Losses arising from
reclassification of held-to-maturity
investments to available-for-sale
financial assets
5.2.4 Effective gains/losses on
cash flow hedges
5.2.5 Differences arising from
translation of foreign
currency-denominated financial
statements
5.2.6 Other
6. Total comprehensive income 69,547,072.01 187,454,611.81
7. Earnings per share
7.1 Basic earnings per share
7.2 Diluted earnings per share
Legal representative: He Yong General manager: Liu Xingming CFO: Tang Qionglan
5. Consolidated Cash Flow Statement
Unit: RMB
Item January-March 2018 January-March 2017
1. Cash generated by or used in
operating activities:
Proceeds from sale of commodities
888,818,669.95 891,447,570.02
and rendering of services
Net increase in customer deposits
and deposits from banks and other
financial institutions
Net increase in loans from 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
Net increase in proceeds from
disposal of financial assets at fair value
through profit or loss
Interest, handling charges and
commissions received
Net increase in interbank loans
obtained
Net increase in proceeds from
repurchase transactions
Tax rebates 14,547,468.34 24,106,127.07
Cash generated by other operating
28,140,908.49 5,770,626.16
activities
Subtotal of cash generated by operating
931,507,046.78 921,324,323.25
activities
Payments for commodities and
520,963,882.48 552,182,800.34
services
Net increase in loans and advances
to customers
Net increase in deposits in central
bank and in interbank loans granted
Payments for claims on original
insurance contracts
Interest, handling charges and
commissions paid
Policy dividends paid
Cash paid to and for employees 181,134,694.05 198,007,961.77
Taxes paid 53,369,965.83 165,193,093.74
Cash used in other operating
51,587,876.51 56,863,597.87
activities
Subtotal of cash used in operating
807,056,418.87 972,247,453.72
activities
Net cash flows from operating
124,450,627.91 -50,923,130.47
activities
2. Cash generated by or used in
investing activities:
Proceeds from disinvestments 10,000,000.00 4,580,255.71
Investment income 10,035,191.59 5,202,481.38
Net proceeds from disposal of
property, plant and equipment,
intangible assets and other long-lived
assets
Net proceeds from disposal of
subsidiaries or other business units
Cash generated by other investing
activities
Subtotal of cash generated by investing
20,035,191.59 9,782,737.09
activities
Payments for acquisition of property,
plant and equipment, intangible assets 74,703,441.19 39,104,297.12
and other long-lived assets
Payments for investments
Net increase in pledged loans
granted
Net payments for acquisition of
subsidiaries and other business units
Cash used in other investing
activities
Subtotal of cash used in investing
74,703,441.19 39,104,297.12
activities
Net cash flows from investing activities -54,668,249.60 -29,321,560.03
3. Cash generated by or used in
financing activities:
Capital contributions received
Including: Capital contributions
by non-controlling interests to
subsidiaries
Increase in borrowings obtained
Net proceeds from issuance of bonds
Cash generated by other financing
activities
Subtotal of cash generated by financing
activities
Repayment of borrowings
Payments for interest and dividends 5,660,290.78
Including: Dividends paid by
5,660,290.78
subsidiaries to non-controlling interests
Cash used in other financing
activities
Subtotal of cash used in financing
5,660,290.78
activities
Net cash flows from financing
-5,660,290.78
activities
4. Effect of foreign exchange rate
-3,322,733.05 448,421.62
changes on cash and cash equivalents
5. Net increase in cash and cash
66,459,645.26 -85,456,559.66
equivalents
Add: Cash and cash equivalents,
570,184,208.96 1,479,283,642.54
beginning of the period
6. Cash and cash equivalents, end of
636,643,854.22 1,393,827,082.88
the period
Legal representative: He Yong General manager: Liu Xingming CFO: Tang Qionglan
6. Parent Company Cash Flow Statement
Unit: RMB
Item January-March 2018 January-March 2017
1. Cash generated by or used in
operating activities:
Proceeds from sale of commodities
852,348,438.77 862,744,439.39
and rendering of services
Tax rebates 14,547,468.34 24,106,127.07
Cash generated by other operating
21,047,144.75 3,825,641.43
activities
Subtotal of cash generated by operating 887,943,051.86 890,676,207.89
activities
Payments for commodities and
595,935,971.69 699,760,627.60
services
Cash paid to and for employees 112,947,808.95 103,479,544.66
Taxes paid 28,100,581.05 132,294,837.84
Cash used in other operating
44,022,548.07 50,830,424.51
activities
Subtotal of cash used in operating
781,006,909.76 986,365,434.61
activities
Net cash flows from operating
106,936,142.10 -95,689,226.72
activities
2. Cash generated by or used in
investing activities:
Proceeds from disinvestments 10,000,000.00 4,580,255.71
Investment income 10,035,191.59 19,424,371.39
Net proceeds from disposal of
property, plant and equipment,
intangible assets and other long-lived
assets
Net proceeds from disposal of
subsidiaries or other business units
Cash generated by other investing
activities
Subtotal of cash generated by investing
20,035,191.59 24,004,627.10
activities
Payments for acquisition of property,
plant and equipment, intangible assets 72,690,980.48 33,145,429.52
and other long-lived assets
Payments for investments
Net payments for acquisition of
subsidiaries and other business units
Cash used in other investing
activities
Subtotal of cash used in investing
72,690,980.48 33,145,429.52
activities
Net cash flows from investing activities -52,655,788.89 -9,140,802.42
3. Cash generated by or used in
financing activities:
Capital contributions received
Increase in borrowings obtained
Net proceeds from issuance of bonds
Cash generated by other financing
activities
Subtotal of cash generated by financing
activities
Repayment of borrowings
Payments for interest and dividends
Cash used in other financing
activities
Sub-total of cash used in financing
activities
Net cash flows from financing
activities
4. Effect of foreign exchange rate
-3,321,626.93 448,421.62
changes on cash and cash equivalents
5. Net increase in cash and cash
50,958,726.28 -104,381,607.52
equivalents
Add: Cash and cash equivalents,
502,169,100.40 1,235,417,964.88
beginning of the period
6. Cash and cash equivalents, end of
553,127,826.68 1,131,036,357.36
the period
Legal representative: He Yong General manager: Liu Xingming CFO: Tang Qionglan
II Independent Auditor’s Report
Indicate by tick mark whether the Q1 financial statements have been audited by an independent auditor.
□Yes √ No
The Q1 financial statements have not been audited by such an auditor.
The Board of Directors
Foshan Electrical and Lighting Co., Ltd.
April 26, 2018
