Foshan Electrical and Lighting Co. Ltd. Annual Report 2025 (Summary)

Stock Code: 000541 200541 Stock Name: FSL FSL-B Announcement No.: 2026-010

FOSHAN ELECTRICAL AND LIGHTING CO. LTD.ANNUAL REPORT 2025 (SUMMARY)

1Foshan Electrical and Lighting Co. Ltd. Annual Report 2025 (Summary)

Part I Important Notes

This Summary is based on the full Annual Report of Foshan Electrical and Lighting Co. Ltd. (hereinafter referred

to as the “Company”). In order for a full understanding of the Company’s operating results financial position and

future development plans investors should carefully read the aforesaid full text which has been disclosed

together with this Summary on the media designated by the China Securities Regulatory Commission (the

“CSRC”).All the Company’s directors have attended the Board meeting for the review of this Report and its summary.Independent auditor’s modified opinion:

□ Applicable□ Not applicable

Board-approved final dividend and/or bonus issue plan for ordinary shareholders for the Reporting Period:

□ Applicable □ Not applicable

Bonus issue from capital reserves:

□ Yes□ No

The Board has approved a final dividend plan as follows: based on the total share capital of 1535778230 shares

at the disclosure date of the 2025 Annual Report a cash dividend of RMB 0.5(tax inclusive) per 10 shares is to be

distributed to the shareholders with no bonus issue from either profit or capital reserves. Where any change

occurs to the total shares entitled to the final dividend due to any share repurchase grant of equity incentives etc.when the final dividend plan is implemented the dividend per share shall remain the same while the total payout

amount shall be adjusted accordingly. The above-mentioned plan shall be submitted to the 2025 Annual Meeting

of Shareholders for review.Board-approved final dividend and/or bonus issue plan for preference shareholders for the Reporting Period:

□ Applicable□ Not applicable

Part II Key Corporate Information

Stock name FSL FSL-B Stock code 000541 200541

Stock exchange for listing Shenzhen Stock Exchange

Contact information Board Secretary Securities Representative

Name Huang Zhenhuan Huang Yufen

No. 8 Zhihui Road Chancheng District No. 8 Zhihui Road Chancheng District

Address Foshan City Guangdong Province Foshan City Guangdong Province

P.R.China P.R.China

Fax （0757）82816276 （0757）82816276

2Foshan Electrical and Lighting Co. Ltd. Annual Report 2025 (Summary)

Tel. （0757）82810239 （0757）82966028

Email address fsldsh@chinafsl.com fslhyf@163.com

1. Stock Profile

2. Principal Operations and Products during the Reporting Period

i. Principal operations

The Company has been committed to the R&D production and sale of high-quality and energy-efficient

lighting products in order to provide integrated lighting solutions for customers. It is the controlling shareholder

of Liaowang Auto Lamp NationStar Optoelectronics Hule Electric and Airtrust through acquisition programs

starting from 2021. At present the principal business of the Company mainly includes the R&D production and

sale of general lighting products automotive lighting products and LED packaging products.The general lighting mainly covers LED light sources LED luminaries and comprehensive lighting

solutions for home lighting commercial lighting industrial lighting municipal road lighting and landscape

lighting. Over recent years the Company has also been exploring new fields including smart lighting healthy

lighting marine lighting aviation lighting and animal and plant lighting.Based on its own automotive light sources and modules the Company relying on its majority-owned

subsidiary Liaowang Auto Lamp has expanded the automotive lighting business into the automotive OEM

market involving basically all the lights that an automobile requires such as headlights rear light combos fog

lights backup lights interior lights and license plate lights. The main clients of Liaowang Auto Lamp include

SAIC-GM-Wuling Automobile Chongqing Changan Automobile SERES IM SAIC Maxus Automotive and

other whole-automobile manufacturers and medium- and high-end products take up an increasing percentage of

its total sales of automotive lights.The Company conducts LED packaging business mainly by relying on its majority-owned subsidiary

NationStar Optoelectronics (stock code: 002449). The primary products include LED epitaxial wafers and chips

LED packaging and component products integrated circuit packaging products and third generation compound

semiconductor packaging products which are widely used for consumer electronics home appliances

communications display and lighting products general lighting automotive lighting sterilization and

purification plant lighting and other fields.ii. Business models

1. Procurement model

3Foshan Electrical and Lighting Co. Ltd. Annual Report 2025 (Summary)

The Company’s procurement department should ensure that the procured materials and products meet the

prescribed requirements and that procurement activities are under control. Besides it should consider the needs

of each department and the reasonable stock quantity before carrying out any procurement determine suppliers

by means of bidding price negotiation and price comparison. There should be several backup suppliers of each

principal raw material to ensure fair procurement price timely material supply and reliable quality.

2. Production model

For routine products the monthly production plan is prepared based on the analysis of the sales of each

month and changes in the future market demand and the safe stock benchmark. Each production department

produces products as planned so as to control the stock and meet the sales demand. For customized products

the make-to-order strategy is implemented to effectively control the stock quantity of raw materials reduce the

funds that are tied up and improve the Company’s operational efficiency.

3. Sales model

In the Company’s general lighting business for domestic sales the Company adopts the model of agency

distribution and direct supply to engineering projects with current sales mainly in household commerce and e-

commerce channels. For foreign sales the Company adopts the models of OEM and independent brands. The

sale of products of independent brands abroad is carried out mainly via agencies.In the automotive lighting business in the factory-installed market the model of supplying automotive

light products directly to OEMs is mainly adopted; in the aftermarket products are mainly sold by agencies.In the LED packaging business the direct sale model is mainly adopted in which products are sold

through direct communication with clients.iii. Main driving forces for growthThe Company is committed to the development strategy of “new-type basic platform and large-scale newtracks” and continuously strengthens the innovation driver and refines the business portfolio. Additionally it

promotes the change of the marketing model intensifies management improvement and vigorously explores

market segments. Since 2021 the Company has acquired Liaowang Auto Lamp NationStar Optoelectronics

Hule Electric and Airtrust significantly enhancing its competitiveness in the automotive lighting marine

lighting and aviation lighting sectors. At the same time the integration of upstream and downstream resources

along the LED industry chain has provided solid support for the Company’s rapid expansion.

4Foshan Electrical and Lighting Co. Ltd. Annual Report 2025 (Summary)

With the evolution of the industrial competition model consumers are getting increasingly concerned with

product quality and brand. As a result lighting companies with insufficient competitiveness will be gradually

elbowed out of the market while enterprises with core competitiveness will have more market opportunities. By

virtue of its advantages in technology brand channel and scale the Company continuously launches high-tech-

content new products through sustained R&D investment and technology innovation advancing the

technological upgrade and quality improvement of main products. Simultaneously the Company is intensifying

market exploration efforts optimizing industrial layouts increasing production automation and digital

management levels effectively controlling procurement costs and improving production efficiency. These

initiatives have enabled the Company to secure a favorable position amid increasing market concentration

further strengthening its market competitiveness.

3. Key Financial Information

(1) Key Financial Information of the Past Three Years

Indicate whether there is any retrospectively restated datum in the table below.□ Yes□ No

Unit: RMB

Change of December

December 31 2025 December 31 2024 31 2025 on December December 31 2023

312024(%)

Total assets 17167245635.67 17159763456.64 0.04% 16934439915.02

Equity attributable to

the listed company’s 6834820501.84 6574304305.27 3.96% 6285442808.19

shareholders

2025-on-2024 change

202520242023

(%)

Operating revenue 8796808970.58 9048237647.14 -2.78% 9057292003.90

Net profit attributable

to the listed company’s 214845871.24 446184021.97 -51.85% 290357652.22

shareholders

Net profit attributable

to the listed company’s

shareholders before 83903640.69 97753307.23 -14.17% 274838768.63

exceptional gains and

losses

Net cash generated

from/used in operating 297149393.01 598115335.88 -50.32% 1174389978.98

activities

Basic earnings per

0.13990.2905-51.84%0.2128

share (RMB/share)

Diluted earnings per 0.1398 0.2881 -51.48% 0.2108

5Foshan Electrical and Lighting Co. Ltd. Annual Report 2025 (Summary)

share (RMB/share)

Weighted average

3.21%6.94%-3.73%5.51%

return on equity (%)

(2) Key Financial Information by Quarter

Unit: RMB

Q1 Q2 Q3 Q4

Operating revenue 2145097615.85 2240633503.93 2146468712.59 2264609138.21

Net profit attributable

to the listed company’s 64757120.39 50236631.85 26013078.35 73839040.65

shareholders

Net profit attributable

to the listed company’s

shareholders before 61595567.60 44481416.69 15947121.16 -38120464.76

exceptional gains and

losses

Net cash generated

from/used in operating -114950715.22 124795728.17 31289232.66 256015147.40

activities

Indicate whether any of the quarterly financial data in the table above or their summations differs materially

from what have been disclosed in the Company’s quarterly or interim reports.□ Yes□ No

4. Share Capital and Shareholder Information at the Period-End

(1) Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well

as Holdings of Top 10 Shareholders

Unit: share

Number of

Number of

ordinary

preference

Number of shareholder Number of preference

shareholder

ordinary s at the shareholders with

s with

shareholder 79240 month-end 75947 0 resumed voting rights at 0

resumed

s at the prior to the the month-end prior to the

voting

period-end disclosure disclosure of this Report

rights at the

of this

period-end

Report

Top 10 shareholders (exclusive of shares lent in refinancing)

Shareholdi Shares in pledge marked

Name of Nature of Total shares held at the

ng Restricted shares held or frozen

shareholder shareholder period-end

percentage Status Shares

Hong Kong

Wah Shing

Overseas

Holding 12.85% 197338980 0 N/A 0

corporation

Company

Limited

Prosperity Overseas

9.57% 146934857 0 N/A 0

Lamps & corporation

6Foshan Electrical and Lighting Co. Ltd. Annual Report 2025 (Summary)

Component

s Limited

Guangdong

Electronics State-

Informatio owned 9.35% 143623846 0 N/A 0

n Industry corporation

Group Ltd.Guangdong

Rising State-

Holdings owned 8.45% 129826793 0 N/A 0

Group Co. corporation

Ltd.Central

Huijin State-

Asset owned 2.16% 33161800 0 N/A 0

Manageme corporation

nt Co. Ltd.SDICS

Internation

al

Overseas

Securities 1.69% 25981530 0 N/A 0

corporation

(Hong

Kong)

Limited

Rising

Investment Overseas

1.66% 25482252 0 N/A 0

Developme corporation

nt Limited

Zhang Domestic

1.11% 17000000 0 N/A 0

Shaowu individual

Zhuang Overseas

0.78% 11903509 8927632 N/A 0

Jianyi individual

Hong Kong

Securities

Overseas

Clearing 0.52% 7962355 0 N/A 0

corporation

Company

Limited

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

Related or acting-in-

Rising Investment Development Limited are acting-in-concert parties; Prosperity Lamps &

concert parties among the

Components Limited and Zhuang Jianyi are acting-in-concert parties. Apart from that it is unknown

shareholders above

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.Shareholders involved in

securities margin trading None

(if any)

5% or greater shareholders top 10 shareholders and top 10 unrestricted public shareholders involved in

refinancing shares lending:

□ Applicable□ Not applicable

Changes in top 10 shareholders and top 10 unrestricted public shareholders due to refinancing shares

lending/return compared with the prior period:

7Foshan Electrical and Lighting Co. Ltd. Annual Report 2025 (Summary)

□ Applicable□ Not applicable

(2) Number of Preference Shareholders and Shareholdings of Top 10 of Them

□ Applicable□ Not applicable

No preference shareholders during the Reporting Period.

(3) Ownership and Control Relations between the Actual Controller and the Company

People’s Government of Department of Finance of

Guangdong Province Guangdong Province

Guangdong Rising Holdings Group Co. Ltd.Rising Investment Development Limited Guangdong Electronics Information Industry

Group Ltd.Hongkong Wah Shing Enterprise

Limited

Hongkong Wah Shing Holding

Company Limited

Foshan Electrical and Lighting Co. Ltd.

5. Outstanding Bonds at the Date when this Report Was Authorized for Issue

□ Applicable□ Not applicable

Part III Significant Events

1. Subscription for A-shares issued by the majority-owned subsidiary NationStar Optoelectronics in 2025 to

specific subjects

The Company’s majority-owned subsidiary Foshan NationStar Optoelectronics Co. Ltd. (stock name:

NationStar Optoelectronics stock code: 002449) plans to issue no more than 185543150 A-shares (inclusive) to

8Foshan Electrical and Lighting Co. Ltd. Annual Report 2025 (Summary)

specific subjects raising a total of no more than RMB981323900 (inclusive). The raised funds will be used for

the “Ultra-High Definition Display Mini/Micro LED and Display Module Production Project” “OptoelectronicSensing and Smart Health Devices Industrialization Project” “Smart Home Display and Mini Backlight ModuleProject” “Smart Automotive Components and Applications Project” “NationStar Optoelectronics R&DLaboratory Project” and “Supplementing Working Capital.” The Company plans to use its own funds (excluding

the raised funds) to subscribe to the A-shares issued by NationStar Optoelectronics to specific subjects with an

investment amount of RMB116 million. The final number of shares subscribed will be determined based on

Nationstar Optoelectronics’ actual issue price. The Company will sign a Share Subscription Agreement with

conditions for effectiveness and issue related commitments. For more details please refer to the Announcement

on Participating in the Subscription for A-shares Issued by the Majority-Owned Subsidiary NationStar

Optoelectronics to Specific Entities in 2025 disclosed by the Company on July 11 2025 on the

www.cninfo.com.cn. On December 4 2025 NationStar Optoelectronics held the 12th meeting of the 6th Board of

Directors. The meeting reviewed and approved the Proposal on Adjusting the Total Amount of Raised Funds and

adjusted the total amount of raised funds from no more than RMB981.3239 million (inclusive) to no more than

RMB970.1239 million.Yu Zhongmin legal representative

Foshan Electrical and Lighting Co. Ltd.April 15 2026

9