Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
Stock Code: 000541 200541 Stock Name: FSL FSL-B Announcement No.2021-081
FOSHAN ELECTRICAL AND LIGHTING CO. LTD.THIRD QUARTERLY REPORT 2021
Foshan Electrical and Lighting Co. Ltd. (hereinafter referred to as the “Company”) and all the members
of the Company’s Board of Directors hereby guarantee that the contents of this Report are true accurate
and complete and free of any misrepresentations misleading statements or material omissions.Important Notes:
1. The Board of Directors the Supervisory Committee as well as the directors supervisors and senior
management of the Company hereby guarantee that the contents of this Report are true accurate and complete and
free of any misrepresentations misleading statements or material omissions and collectively and individually
accept legal responsibility for such contents.
2. The Company’s legal representative Chief Financial Officer (CFO) and person-in-charge of the Company’s
accounting organ (equivalent to accounting manager) hereby guarantee that the financial statements carried in this
Report are true accurate and complete.
3. Indicate whether the financial statements in this Report have been audited by an independent auditor.
□Yes √ No
I Key Financial Information
(I) Key Accounting Data and Financial Indicators
Indicate whether there is any retrospectively restated datum in the table below.√ Yes □ No
Reason
Business Combination under the same control
YoY YoY
Q3 2020 change Q1-Q3 2020 change Q1-Q3
Q3 2021 (%) 2021 (%)
Before Restated Restated Before Restated Restated
129179710366421036642324713925595262559526
Operating revenue (RMB) 24.61% 26.86%
822.97740.19740.19939.17867.23867.23
1Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
Net profit attributable to the listed 81457735 81713561 80361361 19201327 23277500 2292576
1.36%-16.25%
company’s shareholders (RMB) .74 .32 .50 8.67 9.15 36.05
Net profit attributable to the listed
company’s shareholders before 49859285 71099990 71099990 14880979 22153482 2215348
-29.87%-32.83%
exceptional gains and losses .46 .80 .80 2.97 6.80 26.80
(RMB)
Net cash generated from/used in -5358611 35208395 3584291
————————-114.95%
operating activities (RMB) 9.35 2.07 29.88
Basic earnings per share
0.05900.05930.05821.37%0.13920.16880.1662-16.25%
(RMB/share)
Diluted earnings per share
0.05900.05930.05821.37%0.13920.16880.1662-16.25%
(RMB/share)
Weighted average return on equity
1.34%1.68%1.64%-0.30%3.16%4.62%4.50%-1.34%
(%)
31 December 2020 Change (%)
30 September 2021
Before Restated Restated
Total assets (RMB) 9680260873.44 8519336914.11 8519336914.11 13.63%
Equity attributable to the listed
5768505220.546263921304.546263921304.54-7.91%
company’s shareholders (RMB)
(II) Exceptional Gains and Losses
√ Applicable □ Not applicable
Unit: RMB
Item Q3 2021 Q1-Q3 2021 Note
Gain or loss on disposal of non-current assets
34427822.8137465645.94
(inclusive of impairment allowance write-offs)
Government grants through profit or loss (exclusive
of government grants given in the Company’s
1992367.949783400.54
ordinary course of business at fixed quotas or
amounts as per the government’s uniform standards)
Capital occupation charges on non-financial
156022.79672918.25
enterprises that are recognized in profit or loss
Gain or loss on fair-value changes on
held-for-trading financial assets and liabilities &
income from disposal of held-for-trading financial
assets and liabilities and available-for-sale financial 729976.10 3086026.10
assets (exclusive of the effective portion of hedges
that arise in the Company’s ordinary course of
business)
Non-operating income and expense other than the
272067.17461715.28
above
Less: Income tax effects 5571510.58 7540835.61
Non-controlling interests effects (net of tax) 408295.95 725384.80
Total 31598450.28 43203485.70 --
Other items that meet the definition of exceptional gain/loss:
□ Applicable √ Not applicable
No such cases in the Reporting Period.Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the Explanatory
2Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Exceptional Gain/Loss Items:
□ Applicable √ Not applicable
No such cases in the Reporting Period.(III) Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
Unit: RMB
30 September 2021 (or 31 December 2020
Item Change (%) Explanation of why
Q1~Q3 2021) (or Q1~Q3 2020)
Sale of shares in Gotion High-tech and
Monetary assets 1760127913.79 981249699.49 79.38%
Everbright Bank in the current period
Held-for-trading Disinvestment in wealth management products
15849274.83407619201.36-96.11%
financial assets upon maturity in the current period
Acquisition of Nanning Liaowang which was
Notes
539331195.31 140972143.00 282.58% not under common control with the Company in
receivable
the current period
Accounts Acquisition of Nanning Liaowang which was
1518848691.05 1134233235.70 33.91% not under common control with the Company in
receivable
the current period
Acquisition of Nanning Liaowang which was
not under common control with the Company
Prepayments 34161622.80 11994745.05 184.80% and increase in prepayments as a way to lock
material prices considering the rising trends in
the current period
Acquisition of Nanning Liaowang which was
Other
37472402.46 20194968.19 85.55% not under common control with the Company in
receivables
the current period
Acquisition of Nanning Liaowang which was
Inventories 1082058596.03 735685116.91 47.08% not under common control with the Company in
the current period
Current portion Acquisition of Nanning Liaowang which was
of non-current 828260.33 N/A not under common control with the Company in
assets the current period
Other current Redemption of large bank deposit receipt upon
98583324.68175090368.85-43.70%
assets maturity in the period
Investments in Sale of shares in Gotion High-tech and
1896379865.093305501030.06-42.63%
other equity Everbright Bank in the current period
3Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
instruments
Transfer of certain properties for self-use
Investment
43939108.83 N/A purposes to investment property in the current
property
period
Acquisition of Nanning Liaowang which was
Fixed assets 1333797307.59 685707548.55 94.51% not under common control with the Company in
the current period
Construction in
667212280.64 503941120.31 32.40% Greater investments in plant and office building
progress construction in the current period
Right-of-use The Company has adopted the new accounting
7025188.45 N/A
assets standard governing leases since 1 January 2021
Acquisition of Nanning Liaowang which was
Intangible assets 266206860.62 170693873.30 55.96% not under common control with the Company in
the current period
Acquisition of Nanning Liaowang which was
Long-term not under common control with the Company
109270354.8613411226.23714.77%
prepaid expense and high decoration expenditure on new
construction project in the current period
Deferred Acquisition of Nanning Liaowang which was
income tax 53170745.58 40253777.17 32.09% not under common control with the Company in
assets the current period
Other Acquisition of Nanning Liaowang which was
non-current 36635070.12 11423843.62 220.69% not under common control with the Company in
assets the current period
Acquisition of Nanning Liaowang which was
Short-term
99609290.15 N/A not under common control with the Company in
borrowings
the current period
Acquisition of Nanning Liaowang which was
Notes payable 975990073.22 480971214.80 102.92% not under common control with the Company in
the current period
Acquisition of Nanning Liaowang which was
Accounts
1499932297.53 1059674020.99 41.55% not under common control with the Company in
payable
the current period
Acquisition of Nanning Liaowang which was
Advances from
3944098.24 1285357.28 206.85% not under common control with the Company in
customers
the current period
Taxes and levies Sale of shares in Gotion High-tech and
149486282.3818876657.51691.91%
payable Everbright Bank in the current period
Other payables 273639931.65 76668330.66 256.91% Acquisition of Nanning Liaowang which was
4Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
not under common control with the Company in
the current period
Current portion
The Company has adopted the new accounting
of non-current 27954184.73 N/A
standard governing leases since 1 January 2021
liabilities
Acquisition of Nanning Liaowang which was
Other current
8880985.50 5503702.07 61.36% not under common control with the Company in
liabilities
the current period
The Company has adopted the new accounting
Lease liabilities 3879727.77 N/A
standard governing leases since 1 January 2021
Acquisition of Nanning Liaowang which was
Long-term
2660158.50 N/A not under common control with the Company in
payables
the current period
Acquisition of Nanning Liaowang which was
Dividends
15646.07 N/A not under common control with the Company in
payable
the current period
Acquisition of Nanning Liaowang which was
Provisions 7988407.72 N/A not under common control with the Company in
the current period
Acquisition of Nanning Liaowang which was
Deferred
1739611.97 N/A not under common control with the Company in
income
the current period
Deferred
Sale of shares in Gotion High-tech and
income tax 236662936.70 414670609.97 -42.93%
Everbright Bank in the current period
liabilities
Other
Clearing of liabilities of subsidiary to be
non-current 1244064.84 -100.00%
liquidated and deregistered
liabilities
Acquisition of Nanning Liaowang which was
Capital reserves 716896.42 15157514.90 -95.27% not under common control with the Company in
the current period
Less: Treasury Repurchase of treasury shares in the current
234482185.55 N/A
stock period
Other
Sale of shares in Gotion High-tech and
comprehensive 1250583258.27 2349388533.61 -46.77%
Everbright Bank in the current period
income
Acquisition of Nanning Liaowang which was
Retained
2610974583.29 1758462062.48 48.48% not under common control with the Company
earnings
transfer of gains on the sale of shares in Gotion
5Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
High-tech and Everbright Bank to retained
earnings in the current period
Acquisition of Nanning Liaowang which was
Non-controlling
471520095.77 48258834.53 877.06% not under common control with the Company in
interests
the current period
Cost of sales increased accordingly when
operating revenue increased in the current
period; and the Company has adopted the new
accounting standard governing revenue since 1
Cost of sales 2688051460.39 2021309966.18 32.99%
January 2020 transferring transportation
expense related to contract performance to cost
of sales and cost of sales of Q1-Q3 2020 was
adjusted accordingly.Acquisition of Nanning Liaowang which was
Taxes and levies 35666632.84 25476192.44 40.00% not under common control with the Company in
the current period
Acquisition of Nanning Liaowang which was
Administrative
139028237.97 106118667.06 31.01% not under common control with the Company in
expense
the current period
Finance costs -2864640.73 -14891399.78 80.76% Decrease in interest income in the current period
Acquisition of Nanning Liaowang which was
Interest expense 2778317.57 N/A not under common control with the Company in
the current period
Interest income 8464154.75 28278343.23 -70.07% Decrease in bank deposits in the current period
Returns on
Decrease in net profits of associates attributable
investments in
78184.56 3696391.14 -97.88% to owners of the Company as the parent in the
associates and
current period
joint ventures
Changes in the fair value of forward FX
Gain on changes
2669976.10 445000.00 499.99% settlement contracts as a result of exchange rate
in fair value
fluctuations
Credit Increase in allowances for expected credit losses
-9044765.70-4002685.70-125.97%
impairment loss due to an increase in accounts receivable
Asset Increase in inventory valuation allowances in
-9854112.27-3200793.69-207.86%
impairment loss the period
Asset disposal Increase in asset liquidization in the current
36004193.067489.02480659.74%
income period
Non-operating Increase in gains on the disposal of fixed assets
2576875.64936299.73175.22%
income in the period
Non-operating 653707.48 1135442.81 -42.43% Decrease in losses on the disposal of fixed assets
6Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
expense in the period
Due to the tax policy that the R&D expense was
allowed for over-deduction in the calculation of
the taxable income amount according to the
Income tax Notice of Further Implementing the Policy with
27104238.5839481644.30-31.35%
expense Respect to Taxable Income Over-deduction for
R&D Expense (STA Notice 2021 No. 28)
issued by the State Taxation Administration in
the current period
Net profit
Acquisition of Nanning Liaowang which was
attributable to
8523262.26 4056265.84 110.13% not under common control with the Company in
non-controlling
the current period
interests
Other
comprehensive Decrease in price of shares held in listed
-302248841.46345434286.72-187.50%
income net of company in the current period
tax
Other
comprehensive
income net of
Decrease in price of shares held in listed
tax attributable -302458364.50 345434286.72 -187.56%
company in the current period
to owners of the
Company as the
parent
Changes in the
fair value of
Decrease in price of shares held in listed
investments in -302616816.85 345412469.12 -187.61%
company in the current period
other equity
instruments
Differences
arising from the
translation of
foreign 158452.35 21817.60 626.26% Fluctuation of foreign currency against RMB
currency-denom
inated financial
statements
Other
comprehensive
Acquisition of Nanning Liaowang which was
income net of
209523.04 N/A not under common control with the Company in
tax attributable
the current period
to
non-controlling
7Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
interests
Total
Decrease in price of shares held in listed
comprehensive -101712300.53 578748188.61 -117.57%
company in the current period
income
Net cash
generated
Increase in payments for goods as a result of
from/used in -53586119.35 358429129.88 -114.95%
rising material prices in the current period
operating
activities
Net cash
Sale of shares in Gotion High-tech and
generated
Everbright Bank in the current period resulting
from/used in 1189612389.08 -138956001.55 956.11%
in an increase in cash generated from investing
investing
activities
activities
Net cash
generated Repurchase of treasury shares in the current
from/used in -519401249.39 -258879038.49 -100.63% period resulting in an increase in cash used in
financing financing activities
activities
Effect of foreign
exchange rates
changes on cash -38165626.64 -1874714.70 -1935.81% Fluctuation of foreign currency against RMB
and cash
equivalents
Net increase in
Increase in net cash generated from investing
cash and cash 578459393.70 -41280624.86 1501.29%
activities
equivalents
Cash and cash
Increase in net cash generated from investing
equivalents end 1530248538.98 1014401788.61 50.85%
activities
of the period
II Shareholder Information
(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well
as Holdings of Top 10 Shareholders
Unit: share
Number of preference
Number of ordinary shareholders 69229 shareholders with resumed 0
voting rights (if any)
Top 10 shareholders
8Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
Name of Nature of Shareholding Restricted shares Shares in pledge marked or frozen
Total shares held
shareholder shareholder percentage held Status Shares
Hong Kong Wah
Shing Holding Foreign
13.47% 188496430 0 In pledge 92363251
Company corporation
Limited
Prosperity Lamps
Foreign
& Components 10.50% 146934857 0
corporation
Limited
Guangdong
Electronics
State-owned
Information 8.77% 122694246 0 In pledge 32532815
corporation
Industry Group
Ltd.Shenzhen Rising
Investment State-owned
5.12%716961360
Development corporation
Co. Ltd.Essence
International Foreign
2.51%351258720
Securities (Hong corporation
Kong) Limited
Central Huijin
Asset State-owned
2.42%338789000
Management Co. corporation
Ltd.Rising
Investment Foreign
1.82%254822520
Development corporation
Limited
China Merchants
State-owned
Securities (HK) 1.05% 14714285 0
corporation
Co. Limited
Foreign
Zhuang Jianyi 0.85% 11903509 0
individual
Guangdong
State-owned
Rising Finance 0.82% 11434762 0
corporation
Holding Co. Ltd.Top 10 unrestricted shareholders
Shares by class
Name of shareholder Unrestricted ordinary shares held
Class Shares
Hong Kong Wah Shing Holding RMB-denominate
188496430188496430
Company Limited d ordinary share
Prosperity Lamps & Components RMB-denominate
146934857146934857
Limited d ordinary share
Guangdong Electronics Information RMB-denominate
122694246122694246
Industry Group Ltd. d ordinary share
Shenzhen Rising Investment RMB-denominate
7169613671696136
Development Co. Ltd. d ordinary share
Domestically
Essence International Securities
35125872 listed foreign 35125872
(Hong Kong) Limited
share
Central Huijin Asset Management RMB-denominate
3387890033878900
Co. Ltd. d ordinary share
Domestically
Rising Investment Development
25482252 listed foreign 25482252
Limited
share
9Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
Domestically
China Merchants Securities (HK)
14714285 listed foreign 14714285
Co. Limited
share
Guangdong Rising Finance Holding RMB-denominate
1143476211434762
Co. Ltd. d ordinary share
Domestically
DBS VICKERS (HONG KONG)
9744456 listed foreign 9744456
LTD A/C CLIENTS
share
Among the top 10 shareholders Hong Kong Wah Shing Holding Company Limited
Shenzhen Rising Investment Development Co. Ltd. Guangdong Electronics Information
Industry Group Ltd. Guangdong Rising Finance Holding Co. Ltd. and Rising Investment
Related or acting-in-concert parties
Development Limited are acting-in-concert parties; Prosperity Lamps & Components Limited
among the shareholders above
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
None
securities margin trading (if any)
(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
III Other Significant Events
√ Applicable □ Not applicable
1. Share repurchase
The Third Extraordinary Shareholders’ General Meeting for 2020 of the Company reviewed and passed the
Proposal on Repurchasing Some A and B Shares of the Company on 18 December 2020 The Company formulated
and disclosed the repurchase report in line with relevant regulations. See the Report on Repurchasing Some A and B
Shares of the Company published on Cninfo (www.cninfo.com.cn) on 24 December 2020. As of 30 September 2021
the Company accumulatively repurchased 31070300 A-Shares and 13998884 B-Shares respectively through
call auction representing 3.22% of the total share capital. RMB196959000 (excluding the transaction cost) and
HKD45059500 (excluding the transaction cost) were spent for the repurchase of the A and B Shares respectively.
2. Sales of shares of Gotion High-tech and Everbright Bank
On 25 August 2021 the Proposal on Asset Disposal was approved at the 16th Meeting of the 9th Board of Directors
of the Company. As such the Company was agreed to sell shares in Gotion High-tech Xiamen Bank and
Everbright Bank with a total transaction amount not exceeding 30% of the Company’s total assets as at the end of
2020 i.e. RMB2.55 billion (exclusive of the financial assets sold in H1 2021). The assets would be sold within
two years starting from approval of the sale by the Board of Directors. The management was authorized by the
Board of Directors to sell within the aforesaid time limit the aforesaid assets in a proper timing via the securities
trading system by way of centralized bidding or bulk trading. In September 2021 the Company sold 12349900
10Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
shares of Gotion High-tech at the price of RMB600.7638 million (with fees not deducted yet). Upon the decrease it
held 20316675 shares of Gotion High-tech representing 1.59% of the total share capital. Meanwhile the
Company sold 3000000 shares of Everbright Bank at the price of RMB10.1288 million (with fees not deducted
yet). Upon the decrease it held 15546754 shares of Everbright Bank representing 0.03% of the total share capital.In conformity with the new financial instrument standards effective on 1 January 2019 the Company recorded the
investments in Gotion High-tech and Everbright Bank as non-trading equity instrument investment at fair value
through other comprehensive income. The decreases did not affect the Company's profit in the current period.
3. Significant asset restructuring
On 21 June 2021 the Company received the Letter of Intent to Transfer Shares in Foshan NationStar
Optoelectronics Co. Ltd. from its controlling shareholder Guangdong Rising Holdings Group Co. Ltd. (Rising
Group). In pursuit of the strategic objective of the integration and synergies of the LED business Rising Group
and its acting-in-concert party intended to transfer their 21.32% interest in Foshan NationStar Optoelectronics Co.Ltd. (NationStar Optoelectronics) to the Company.On 28 September 2021 the Preliminary Plan of Foshan Electrical and Lighting Co. Ltd. for Significant Asset
Purchase & Related-party Transaction and its summary together with other relevant proposals were approved at
the 17th Meeting of the 9th Board of Directors of the Company. On 27 October 2021 the Report (Draft) on
Significant Asset Purchase & Related-party Transaction and its summary together with other relevant proposals
were approved at the 19th Meeting of the 9th Board of Directors of the Company. As such the Company was
agreed to acquire through cash payment the 100% interest in Foshan Sigma Venture Capital Co. Ltd. (Sigma
holding 79753050 shares in NationStar Optoelectronics) from Guangdong Electronics Information Industry
Group Ltd. (Electronics Group) and a total of 52051945 shares in NationStar Optoelectronics from Rising
Group and Guangdong Rising Finance Holding Co. Ltd. (GD Rising Finance). Before this restructuring the
Company held 1014900 shares in NationStar Optoelectronics. After this restructuring the Company and its
wholly-owned subsidiary would hold a total of 132819895 shares or 21.48% in NationStar Optoelectronics
which would make the Company the controlling shareholder of NationStar Optoelectronics. There is uncertainty
with respect to this restructuring for it is subject to further approval from the Company’s general meeting or other
possible approval as required by applicable laws and regulations. For further information see the relevant
announcements including the Preliminary Plan of Foshan Electrical and Lighting Co. Ltd. for Significant Asset
Purchase & Related-party Transaction and the Report (Draft) on Significant Asset Purchase & Related-party
Transaction disclosed by the Company on http://www.cninfo.com.cn dated 30 September 2021 and 28 October
11Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
2021.
4. Acquisition of Nanning Liaowang
On 23 June 2021 the 14th Meeting of the Ninth Board of Directors of the Company reviewed and passed the
Proposal on Acquisition of Nanning Liaowang Auto Lamp Co. Ltd. which allowed the Company to acquire the
underlying asset with the equity fund of RMB487.52 million (the total investment does not exceed RMB500 million
and is subject to the actual amount incurred) through equity acquisition capital increase and share expansion.On 27 July 2021 the Company received the Decision of the State Administration for Market Regulation on Not
Carrying out Further Anti-monopoly Review Concerning Concentration of Business Operators (Anti-monopoly
Review Decision [2021] No. 426 which means that the aforesaid acquisition has passed the review concerning
concentration of business operators.In August 2021 formalities were completed with the industry and commerce administration with respect to the
transfer of share ownership and the increase in Nanning Liaowang’s registered capital and Nanning Liaowang
received the new Business License issued by Nanning Administrative Review Bureau. Currently the Company
directly holds a 53.79% interest in Nanning Liaowang which has become a majority-owned subsidiary of the
Company and has been included in the consolidated financial statements of the Company. For further information
see the Announcement on Acquisition of Nanning Liaowang Auto Lamp Co. Ltd. and the Announcement on
Progress on the Acquisition of Nanning Liaowang Auto Lamp Co. Ltd. published by the Company on
www.cninfo.com.cn on 24 June 2021 29 July 2021 and 17 August 2021 respectively.
5. De-registration of subsidiary
FSL New Light Source Technology Co. Ltd. received the Notice of Approval for De-registration from Foshan
Bureau for Market Regulation in September 2021 which means that the formalities regarding the de-registration
of this company have been completed. As such the said company has been excluded from the consolidated
financial statements of the Company since the date of de-registration.IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by Foshan Electrical and Lighting Co. Ltd.
30 September 2021
Unit: RMB
12Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
Item 30 September 2021 31 December 2020
Current assets:
Monetary assets 1760127913.79 981249699.49
Settlement reserve
Loans to other banks and financial
institutions
Held-for-trading financial assets 15849274.83 407619201.36
Derivative financial assets
Notes receivable 539331195.31 140972143.00
Accounts receivable 1518848691.05 1134233235.70
Receivables financing
Prepayments 34161622.80 11994745.05
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 37472402.46 20194968.19
Including: Interest receivable
Dividends receivable
Financial assets purchased under
resale agreements
Inventories 1082058596.03 735685116.91
Contract assets
Assets held for sale
Current portion of non-current assets 828260.33
Other current assets 98583324.68 175090368.85
Total current assets 5087261281.28 3607039478.55
Non-current assets:
Loans and advances to customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 179362810.38 181365016.32
Investments in other equity
1896379865.093305501030.06
instruments
Other non-current financial assets
Investment property 43939108.83
Fixed assets 1333797307.59 685707548.55
Construction in progress 667212280.64 503941120.31
Productive living assets
Oil and gas assets
Right-of-use assets 7025188.45
Intangible assets 266206860.62 170693873.30
Development costs
Goodwill
Long-term prepaid expense 109270354.86 13411226.23
Deferred income tax assets 53170745.58 40253777.17
Other non-current assets 36635070.12 11423843.62
13Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
Total non-current assets 4592999592.16 4912297435.56
Total assets 9680260873.44 8519336914.11
Current liabilities:
Short-term borrowings 99609290.15
Borrowings from the central bank
Loans from other banks and financial
institutions
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 975990073.22 480971214.80
Accounts payable 1499932297.53 1059674020.99
Advances from customers 3944098.24 1285357.28
Contract liabilities 80791218.18 65777726.45
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 67076352.89 82485090.47
Taxes and levies payable 149486282.38 18876657.51
Other payables 273639931.65 76668330.66
Including: Interest payable
Dividends payable 15646.07
Fees and commissions payable
Reinsurance payables
Liabilities directly associated with
assets held for sale
Current portion of non-current
27954184.73
liabilities
Other current liabilities 8880985.50 5503702.07
Total current liabilities 3187304714.47 1791242100.23
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities 3879727.77
Long-term payables 2660158.50
Long-term employee benefits
payable
Provisions 7988407.72
Deferred income 1739611.97
Deferred income tax liabilities 236662936.70 414670609.97
Other non-current liabilities 1244064.84
Total non-current liabilities 252930842.66 415914674.81
Total liabilities 3440235557.13 2207156775.04
Owners’ equity:
14Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
Share capital 1399346154.00 1399346154.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 716896.42 15157514.90
Less: Treasury stock 234482185.55
Other comprehensive income 1250583258.27 2349388533.61
Specific reserve
Surplus reserves 741366514.11 741567039.55
General reserve
Retained earnings 2610974583.29 1758462062.48
Total equity attributable to owners of 5768505220.54 6263921304.54
the Company as the parent
Non-controlling interests 471520095.77 48258834.53
Total owners’ equity 6240025316.31 6312180139.07
Total liabilities and owners’ equity 9680260873.44 8519336914.11
Legal representative: Wu Shenghui Chief Financial Officer: Tang Qionglan
Person-in-charge of the Company’s accounting organ: Peng Fentao
2. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2021 Q1~Q3 2020
1. Revenues 3247139939.17 2559526867.23
Including: Operating revenue 3247139939.17 2559526867.23
Interest income
Insurance premium income
Fee and commission
income
2. Costs and expenses 3083822353.14 2328425120.71
Including: Cost of sales 2688051460.39 2021309966.18
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 35666632.84 25476192.44
Selling expense 97504547.84 93125368.77
Administrative expense 139028237.97 106118667.06
R&D expense 126436114.83 97286326.04
15Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
Finance costs -2864640.73 -14891399.78
Including: Interest
2778317.57
expense
Interest
8464154.7528278343.23
income
Add: Other income 10478472.71 10870023.46
Return on investment (“-” for loss) 32146261.42 37773909.66
Including: Share of profit or loss 78184.56 3696391.14
of joint ventures and associates
Income from the
derecognition of financial assets at
amortized cost (“-” for loss)
Exchange gain (“-” for loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
2669976.10445000.00
for loss)
Credit impairment loss (“-” for
-9044765.70-4002685.70
loss)
Asset impairment loss (“-” for loss) -9854112.27 -3200793.69
Asset disposal income (“-” for
36004193.067489.02
loss)
3. Operating profit (“-” for loss) 225717611.35 272994689.27
Add: Non-operating income 2576875.64 936299.73
Less: Non-operating expense 653707.48 1135442.81
4. Gross profit (“-” for loss) 227640779.51 272795546.19
Less: Income tax expense 27104238.58 39481644.30
5. Net profit (“-” for net loss) 200536540.93 233313901.89
5.1 By operating continuity
5.1.1 Net profit from continuing
200536540.93233313901.89
operations (“-” for net loss)
5.1.2 Net profit from discontinued
operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to 192013278.67 229257636.05
owners of the Company as the parent
5.2.1 Net profit attributable to 8523262.26 4056265.84
non-controlling interests
6. Other comprehensive income net of
-302248841.46345434286.72
tax
Attributable to owners of the Company
-302458364.50345434286.72
as the parent
6.1 Items that will not be
-302616816.85345412469.12
reclassified to profit or loss
6.1.1 Changes caused by
remeasurements on defined benefit
schemes
6.1.2 Other comprehensive
income that will not be reclassified to
profit or loss under the equity method
6.1.3 Changes in the fair value of
-302616816.85345412469.12
investments in other equity instruments
6.1.4 Changes in the fair value
arising from changes in own credit risk
6.1.5 Other
6.2 Items that will be reclassified to
158452.3521817.60
profit or loss
6.2.1 Other comprehensive
16Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
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
158452.3521817.60
currency-denominated financial
statements
6.2.7 Other
Attributable to non-controlling
209523.04
interests
7. Total comprehensive income -101712300.53 578748188.61
Attributable to owners of the Company -110445085.83 574691922.77
as the parent
Attributable to non-controlling 8732785.30 4056265.84
interests
8. Earnings per share
8.1 Basic earnings per share 0.1392 0.1662
8.2 Diluted earnings per share 0.1392 0.1662
Where business combinations under common control occurred in the current period the net profit achieved by the
acquirees before the combinations was RMB0.00 with the amount for the same period of last year being
RMB0.00.Legal representative: Wu Shenghui Chief Financial Officer: Tang Qionglan
Person-in-charge of the Company’s accounting organ: Peng Fentao
3. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2021 Q1~Q3 2020
1. Cash flows from operating activities:
Proceeds from sale of commodities
3085511864.492372665610.58
and rendering of services
Net increase in customer deposits and
deposits from other banks and financial
institutions
Net increase in borrowings from the
central bank
Net increase in loans from other
financial institutions
Premiums received on original
insurance contracts
Net proceeds from reinsurance
17Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
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 67824017.34 78544375.70
Cash generated from other operating
183149876.57348511200.38
activities
Subtotal of cash generated from
3336485758.402799721186.66
operating activities
Payments for commodities and
2349116131.341441367716.28
services
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 610789268.92 488980780.48
Taxes and levies paid 151873804.01 132543748.28
Cash used in other operating
278292673.48378399811.74
activities
Subtotal of cash used in operating
3390071877.752441292056.78
activities
Net cash generated from/used in
-53586119.35358429129.88
operating activities
2. Cash flows from investing activities:
Proceeds from disinvestment 617614728.08
Return on investment 1028240118.94 40476714.61
Net proceeds from the disposal of
fixed assets intangible assets and other 2051425.43 134956.12
long-lived assets
Net proceeds from the disposal of
subsidiaries and other business units
Cash generated from other investing
activities
Subtotal of cash generated from
1647906272.4540611670.73
investing activities
Payments for the acquisition of fixed
assets intangible assets and other 192707372.24 54567672.28
long-lived assets
Payments for investments 265586511.13 125000000.00
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
458293883.37179567672.28
activities
Net cash generated from/used in
1189612389.08-138956001.55
investing activities
18Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
3. Cash flows from financing activities:
Capital contributions received
Including: Capital contributions by
non-controlling interests to subsidiaries
Borrowings received
Cash generated from other financing
activities
Subtotal of cash generated from
financing activities
Repayment of borrowings 147457301.21
Interest and dividends paid 137261237.19 258879038.49
Including: Dividends paid by
subsidiaries to non-controlling interests
Cash used in other financing
234682710.99
activities
Subtotal of cash used in financing
519401249.39258879038.49
activities
Net cash generated from/used in
-519401249.39-258879038.49
financing activities
4. Effect of foreign exchange rates
-38165626.64-1874714.70
changes on cash and cash equivalents
5. Net increase in cash and cash
578459393.70-41280624.86
equivalents
Add: Cash and cash equivalents
951789145.281055682413.47
beginning of the period
6. Cash and cash equivalents end of the
1530248538.981014401788.61
period
Legal representative: Wu Shenghui Chief Financial Officer: Tang Qionglan
Person-in-charge of the Company’s accounting organ: Peng Fentao
(II) Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year of the New
Standards Governing Leases from 2021
√ Applicable □ Not applicable
Whether the Company needs to adjust items in the balance sheet at the beginning of the year
√ Yes □ No
Consolidated Balance Sheet
Unit: RMB
Item 31 December 2020 1 January 2021 Adjusted
Current assets:
Monetary assets 981249699.49 981249699.49
Settlement reserve
19Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
Loans to other banks and
financial institutions
Held-for-trading financial
407619201.36407619201.36
assets
Derivative financial assets
Notes receivable 140972143.00 140972143.00
Accounts receivable 1134233235.70 1134233235.70
Receivables financing
Prepayments 11994745.05 11994745.05
Premiums receivable
Reinsurance receivables
Receivable reinsurance
contract reserve
Other receivables 20194968.19 20194968.19
Including: Interest
receivable
Dividends
receivable
Financial assets purchased
under resale agreements
Inventories 735685116.91 735685116.91
Contract assets
Assets held for sale
Current portion of
non-current assets
Other current assets 175090368.85 175090368.85
Total current assets 3607039478.55 3607039478.55
Non-current assets:
Loans and advances to
customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity
181365016.32181365016.32
investments
Investments in other equity
3305501030.063305501030.06
instruments
Other non-current financial
assets
Investment property
Fixed assets 685707548.55 685707548.55
Construction in progress 503941120.31 503941120.31
Productive living assets
Oil and gas assets
Right-of-use assets 6229690.85 6229690.85
Intangible assets 170693873.30 170693873.30
Development costs
Goodwill
Long-term prepaid
13411226.2313411226.23
expense
Deferred income tax assets 40253777.17 40253777.17
Other non-current assets 11423843.62 11423843.62
20Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
Total non-current assets 4912297435.56 4918527126.41 6229690.85
Total assets 8519336914.11 8525566604.96 6229690.85
Current liabilities:
Short-term borrowings
Borrowings from the
central bank
Loans from other banks
and financial institutions
Held-for-trading financial
liabilities
Derivative financial
liabilities
Notes payable 480971214.80 480971214.80
Accounts payable 1059674020.99 1059674020.99
Advances from customers 1285357.28 1285357.28
Contract liabilities 65777726.45 65777726.45
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 82485090.47 82485090.47
Taxes and levies payable 18876657.51 18876657.51
Other payables 76668330.66 76668330.66
Including: Interest
payable
Dividends
payable
Fees and commissions
payable
Reinsurance payables
Liabilities directly
associated with assets held
for sale
Current portion of
2812729.512812729.51
non-current liabilities
Other current liabilities 5503702.07 5503702.07
Total current liabilities 1791242100.23 1794054829.74 2812729.51
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preference
shares
Perpetual
bonds
Lease liabilities 3416961.34 3416961.34
Long-term payables
Long-term employee
benefits payable
Provisions
21Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
Deferred income
Deferred income tax
414670609.97414670609.97
liabilities
Other non-current
1244064.841244064.84
liabilities
Total non-current liabilities 415914674.81 419331636.15 3416961.34
Total liabilities 2207156775.04 2213386465.89 6229690.85
Owners’ equity:
Share capital 1399346154.00 1399346154.00
Other equity instruments
Including: Preference
shares
Perpetual
bonds
Capital reserves 15157514.90 15157514.90
Less: Treasury stock
Other comprehensive
2349388533.612349388533.61
income
Specific reserve
Surplus reserves 741567039.55 741567039.55
General reserve
Retained earnings 1758462062.48 1758462062.48
Total equity attributable to
owners of the Company as 6263921304.54 6263921304.54
the parent
Non-controlling interests 48258834.53 48258834.53
Total owners’ equity 6312180139.07 6312180139.07
Total liabilities and owners’
8519336914.118525566604.966229690.85
equity
Legal representative: Wu Shenghui Chief Financial Officer: Tang Qionglan
Person-in-charge of the Company’s accounting organ: Peng Fentao
2. Retrospective Restatement of Previous Comparative Data due to the First Execution of the New
Standards Governing Leases from 2021
□ Applicable √ Not applicable
(III) Independent Auditor’s Report
Indicate by tick mark whether the financial statements above have been audited by an independent auditor.□Yes √ No
These financial statements have not been audited by such an auditor.
22Foshan Electrical and Lighting Co. Ltd. Third Quarterly Report 202 1
Foshan Electrical and Lighting Co. Ltd.Legal representative: Wu Shenghui
29 October 2021
23
沪公网安备31011802005267号
