Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd. Foshan Electrical and Lighting Co., Ltd.
Report for the First Quarter of 2015
April 2015
Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd. Section I. Important Reminders
The Board of Directors, the Supervisory Committee, directors, supervisors and senior management staff of Foshan Electrical and Lighting Co., Ltd. (hereinafter referred to as―theCompany‖) warrant that the information carried in this report is factual, accurate and complete, without any false record, misleading statement or material omission. And they shall be jointly and severally liable for that. All directors have attended in person the board session for reviewing this report except the following:
|||||
|-|-|-|-|
|Name|Position|Reason for not attending the session in person|Name of the proxy|
|Ye zaiyou|Director|ON business|Liu xingming|

Pan Jie, company principal and chief of the accounting work, and Yin Jianchun, chief of the accounting organ (chief of accounting), hereby confirm that the Financial Report enclosed in this report is factual, accurate and complete.
Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd. Section II. Financial Highlights& Changes in Shareholders I. Main accounting data and financial indicators
Does the Company adjust retrospectively or restate accounting data of previous years due to change of the accounting policy or correction of any accounting error?
□ Yes√ No
|||||
|-|-|-|-|
||Jan.-Mar. 2015|Jan.-Mar. 2014|+/- (%)|
|Operating revenues (RMB Yuan)|767,330,509.62|700,112,630.46|9.60%|
|Net profit attributable to shareholders of|99,482,670.12|71,352,349.51||
||||39.42%|
|the Company (RMB Yuan)||||
|Net profit attributable to shareholders of||||
||81,758,984.51|70,585,391.84|15.83%|
|the Company after extraordinary gains and||||
|losses (RMB Yuan)||||
|Net cash flows from operating activities|67,138,040.36|82,012,774.68||
||||-18.14%|
|(RMB Yuan)||||
|Basic EPS (RMB Yuan/share)|0.102|0.073|39.73%|
|Diluted EPS (RMB Yuan/share)|0.102|0.073|39.73%|
|Weighted average ROE (%)|3.22%|2.44%|0.78%|
||31 Mar. 2015|31 Dec. 2014|+/- (%)|
|Total assets (RMB Yuan)|3,834,616,629.86|3,736,704,336.40|2.62%|
|Net assets attributable to shareholders of|3,126,382,990.82|3,044,585,720.58||
||||2.69%|
|the Company (RMB Yuan)||||

Items and amounts of extraordinary gains and losses
√ Applicable□ Inapplicable
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jan.-Mar. 2015|Explanation|
|Gains/losses on the disposal of non-current assets (including the|||
||-301,166.90||
|offset part of the asset impairment provisions)|||
|Government grants recognized in the current period, except for|||
|those acquired in the ordinary course of business or granted at|||
||624,400.72||
|certain quotas or amounts according to the government’s unified|||
|standards|||
|Gains and losses on change in fair value from tradable financial|||
|assets and tradable financial liabilities, as well as investment|||
||17,063,266.56||
|income from disposal of tradable financial assets and tradable|||
|financial liabilities and financial assets available for sales except|||

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
||||
|-|-|-|
|for effective hedging related with normal businesses of the|||
|Company|||
|Non-operating income and expense other than the above|137,214.38||
|Other gain and loss items that meet the definition of an|||
||433,548.10||
|extraordinary gain/loss|||
|Less: Income tax effects|165,777.10||
|Minority interests effects (after tax)|67,800.15||
|Total|17,723,685.61|--|

Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to thePublic—Extraordinary Gains and Losses, or classifies any extraordinary gain/loss item mentioned in the said explanatory announcement as a recurrent gain/loss item
□ Applicable√ Inapplicable
No such cases in the reporting period.
II. Total number of shareholders at the period-end and shareholdings of top 10 shareholders 1. Total number of common shareholders at the period-end and shareholdings of top 10 common shareholders
Unit: share
||||||||
|-|-|-|-|-|-|-|
|Total number of common|||||||
|||94,673|||||
|shareholders at the period-end|||||||
|Shareholdings of top 10 common shareholders|||||||
|||||Number of|Pledged or frozen shares||
|Name of|Nature of|Shareholding|Number of shares||||
|||||restricted shares|||
|shareholder|shareholder|percentage (%)|held||Status of shares|Number of shares|
|||||held|||
|OSRAM HoldingCompanyLimited|Foreigncorporation|13.47%|131,815,685||||
|Prosperity Lamps& ComponentsLimited|Foreigncorporation|10.50%|102,751,648||||
|EssenceInternationalSecurities (HongKong) Co., Ltd.|Foreigncorporation|2.02%|19,735,497||||
|DBSVICKERS(HONG KONG) LTD|Foreigncorporation|1.79%|17,501,979||||

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
|||||||
|-|-|-|-|-|-|
|A/C CLIENTS||||||
|AgriculturalBank of China–China Post CoreGrowth StockFund|Other|1.64%|16,002,000|||
|Zhuang Jianyi|Foreignindividual|0.85%|8,324,132|||
|National SocialSecurity FundPortfolio No. 401|Other|0.80%|7,875,787|||
|AgriculturalBank of ChinaCo., Ltd.—SWSMU ChinaSecuritiesEnvironmentalProtectionIndustry IndexClassificationSecuritiesInvestment Fund|Other|0.53%|5,226,561|||
|Zou Hanshu|Domesticindividual|0.51%|5,000,000|||
|BBH A/CVANGUARDEMERGINGMARKETSSTOCK INDEXFUND|Foreigncorporation|0.47%|4,592,770|||
|Shareholdings of top 10 non-restricted common shareholders||||||
|||||Variety of shares||
|Name of shareholder||Number of non-restricted common shares held||||
|||||Variety|Number|
|OSRAM Holding Company Limited||131,815,685||RMB ordinary||
||||||131,815,685|
|||||shares||
|Prosperity Lamps & ComponentsLimited||102,751,648||RMB ordinary||
||||||102,751,648|
|||||shares||
|Essence International Securities(Hong Kong) Co., Ltd.||19,735,497||Domestically||
|||||listed foreign|19,735,497|
|||||shares||

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
|||||
|-|-|-|-|
|DBS VICKERS(HONG KONG)LTD A/C CLIENTS|17,501,979|Domestically||
|||listed foreign|17,501,979|
|||shares||
|Agricultural Bank of China –ChinaPost Core Growth Stock Fund|16,002,000|RMB ordinary||
||||16,002,000|
|||shares||
|Zhuang Jianyi|8,324,132|Domestically||
|||listed foreign|8,324,132|
|||shares||
|National Social Security FundPortfolio No. 401|7,875,787|RMB ordinary||
||||7,875,787|
|||shares||
|Agricultural Bank of China Co.,Ltd.—SWS MU China SecuritiesEnvironmental Protection IndustryIndex Classification SecuritiesInvestment Fund|5,226,561|||
|||RMB ordinary||
||||5,226,561|
|||shares||
|Zou Hanshu|5,000,000|RMB ordinary||
||||5,000,000|
|||shares||
|BBH A/C VANGUARDEMERGING MARKETS STOCKINDEX FUND|4,592,770|Domestically||
|||listed foreign|4,592,770|
|||shares||
||Among the top ten shareholders of the Company, Prosperity Lamps & Components Limited|||
|Explanation on associated||||
||and Zhuang Jianyi were related parties and acting-in-concert parties. Apart from that, it’s|||
|relationship or persons acting in||||
||unknown whether there was any associated relationship among other shareholders of the top|||
|concert among the above-mentioned||||
||ten shareholders, or whether there is any action-in-concert among them regarding to|||
|shareholders||||
||Administrative Measures on Acquisition of Listed Companies.|||
|Top 10 common shareholders taking|Zou Shuhan, an individual shareholder, holds 0 shares in the Company through the common|||
|part in securities margin trading (if|securities account and 5,000,000 shares through a credit trading guarantee securities account.|||
|any)|As such, the shares that he holds in the Company total 5,000,000 shares.|||

Did any of the top 10 common shareholders or the top 10 non-restricted common shareholders of the Company conduct any promissory repo during the reporting period?
□ Yea√ No
No such cases in the reporting period.
2. Total number of preferred shareholders at the period-end and shareholdings of top 10 preferred shareholders
□ Applicable√ Inapplicable
Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd. Section III. Significant Events
I. Significant changes of the major accounting statement items and financial indicators for the reporting period, as well as the reasons for these changes
√ Applicable□ Inapplicable
Unit: RMB Yuan
||||||
|-|-|-|-|-|
|Statement item|Closing balance/Current period|Opening balance/Same period oflast year|Ratio ofchange|Reason for change|
|Financial assets measuredat fair value with changesrecorded into current gainsand losses|68,916,391.00|20,320.00|339055.47%|Stocks purchasedincreased.|
|Prepayments|23,798,780.10|12,551,566.91|89.61%|Prepayments formaterials increased.|
|Interest receivable|4,007,764.53|2,101,275.54|90.73%|The interest receivableon term deposits inbanks increased.|
|Other current assets|10,354,867.56|31,783,068.68|-67.42%|The undeducted inputtax decreased.|
|Long-term deferredexpenses|1,230,925.74|918,958.73|33.95%|Decoration of the rentedplants increased.|
|Taxes and fares payable|21,823,776.88|13,881,113.81|57.22%|Various taxes and faresincreased.|
|Selling expenses|21,558,608.80|34,383,380.15|-37.30%|The marketing expensesdecreased.|
|Financial expenses|-6,645,447.07|-3,547,566.46|87.32%|Exchange gainsincreased.|
|Asset impairment losses|3,865,036.47|-1,518,200.77|354.58%|Bad-debt provisionsincreased.|
|Gains on fair value changes|388,061.46|99,573.50|289.72%|The fair value oftransactional financialassets changed.|
|Investment gains|17,245,640.35|-998,467.92|1827.21%|The gains on sale ofsecurities increased.|
|Non-operating expenses|375,700.60|7,102.82|5189.46%|Scrapped assetsincreased.|

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
||||||
|-|-|-|-|-|
|Tax and fare refunds|9,580,359.33|17,593,990.28|-45.55%|The export tax rebatesdecreased.|
|Cash received asinvestment gains|17,496,814.66|0.00|100.00%|The gains on sale ofstocks increased.|
|Cash paid for investment|62,132,280.92|1,645,600.00|3675.66%|Securities investmentsincreased.|

II. Progress of significant events and analysis& explanations on their influence and solutions√ Applicable□ Inapplicable
1. In Mar. 2013, CSRC Guangdong administered an administrative punishment on the illegal information disclosure of the Company. During the period from Sept. 2013 to Mar. 2015, a total of 2279 plaintiffs separately sued the Company to Guangzhou IntermediatePeople’s Court for false securities statement, demanding civil compensations of RMB 335.8907 million and HKD 1.328 million from the Company for its illegal information disclosure. In Nov.-Dec. 2014, Guangzhou Intermediate Court issued the judgments of the first instance for the 955 cases among the aforesaid cases, ruling that the Company should make compensations of RMB 60.4108 million to the 955 plaintiffs and at the same time bear the court acceptance fees of RMB 1.0275 million. Not satisfied with the judgments, the Company has filed an appeal to Guangdong High Court. The appeal is still pending. Apart from the said 955 cases, other cases are still in trial with no judgments issued yet.
2. The plan for the back door listing of Hefei Guoxuan High-tech Power Energy Co., Ltd.(―GuoxuanHigh-tech‖), where the Company held a stake, through Jiangsu Dongyuan Electrical Group Co., Ltd.(―DongyuanElectrical‖) was reviewed and approved unconditionally by the Listed Company Merger and Reorganization Examination Committee of CSRC on 2 Apr. 2015. Upon completion of the back door listing, the equity interests held by the Company in Guoxuan High-tech would be converted to restricted equity interests in Dongyuan Electrical. (For details, see Announcement No. 2015-008 disclosed on www.cninfo.com.cn dated 3 Apr. 2015.)
III. Commitments made by the Company or any shareholder with a shareholding over5% in the reporting period or such commitments made in previous period and carried down into the reporting period
□ Applicable√ Inapplicable
No such cases in the reporting period.
IV. Predict the operating results of Jan.-Jun. 2015
Warning of possible loss or considerable YoY change of the accumulated net profit made during the period-begin
to the end of the next reporting period according to prediction, as well as explanations on the reasons:
□ Applicable√ Inapplicable
Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd. V. Securities investments
√ Applicable□ Inapplicable
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
||||||||Closing|Closing|Gain and|||
||||Initial|Opening|Opening|||||||
|||||||Closing|sharehold|book|loss in|||
|Securities|Securities|Securities|investme|sharehold|sharehol||||reporting|Accounti|Stock|
||||nt cost||ding|shareholdi|ing|value||||
|variety|code|abbr.||ing|||||period|ng title|source|
||||(RMB||percenta|ng (share)|percentag|(RMB||||
||||Yuan)|(share)|ge||||(RMB|||
||||||||e|Yuan)|Yuan)|||
|||||||||||Transacti||
||002736|||||||||||
|||||||||||onal||
|Stock||GXZQ|11,660.00|2,000||2,000||44,360.00||||
|||||||||||financial||
|||||||||||asset||
|||||||||||Transacti||
|||||||||||onal||
|Stock|300413|KLG|4,530.00|500||0|||11,958.67|||
|||||||||||financial||
|||||||||||asset||
|||||||||||Transacti||
|||||||||||onal||
|Stock|300418|KLWW|10,150.00|500||0|||23,126.61|||
|||||||||||financial||
|||||||||||asset||
|||||||||||Transacti||
||601021|||||||||||
|||||||||||onal||
|Stock||CQHK|18,160.00|1,000||0|||50,547.20|||
|||||||||||financial||
|||||||||||asset||
|||||||||||Transacti||
||||1,005,199|||||1,283,191||||
|||||||||||onal||
|Stock|000601|SNGF||167,300||167,300||||||
||||.54|||||.00||financial||
|||||||||||asset||
|||||||||||Transacti||
|||||||||||onal||
|Stock|300421|LXGF|4,565.00|500||0|||6,607.00|||
|||||||||||financial||
|||||||||||asset||
|||||||||||Transacti||
|||||||||||onal||
|Stock|601198|DXZQ|18,360.00|2,000||2,000||50,340.00||||
|||||||||||financial||
|||||||||||asset||
|||||||||||Transacti||
|||||||||||onal||
|Stock|603118|GJGF|11,950.00|1,000|||||13,705.10|||
|||||||||||financial||
|||||||||||asset||
|||||||||||Transacti||
|||||||||||onal||
|Stock|603618|HDGF|11,650.00|1,000|||||14,284.40|||
|||||||||||financial||
|||||||||||asset||
|||||||||||Transacti||
|||||||||||onal||
|Stock|603939|YFYF|19,470.00|1,000|||||22,454.32|||
|||||||||||financial||
|||||||||||asset||

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
||||||||||
|-|-|-|-|-|-|-|-|-|
|||||||||Transacti|
|||||||||onal|
|Stock|300420|WYKJ|4,135.00|500|||9,076.88||
|||||||||financial|
|||||||||asset|
|||||||||Transacti|
|||||||||onal|
|Stock|300433|LSKJ|11,495.00|500|500|39,040.00|||
|||||||||financial|
|||||||||asset|
|||||||||Transacti|
|||||||||onal|
|Stock|300432|FLJG|6,985.00|500|500|21,560.00|||
|||||||||financial|
|||||||||asset|
|||||||||Transacti|
|||||||||onal|
|Stock|601689|TPJT|11,370.00|1,000|1,000|23,300.00|||
|||||||||financial|
|||||||||asset|
|||||||||Transacti|
|||||||||onal|
|Stock|600958|DFZQ|50,150.00|5,000|||53,088.25||
|||||||||financial|
|||||||||asset|
|||||||||Transacti|
||||32,380,00|||7,454,000|||
|||||||||onal|
|Other|205008|14 Days|||||31,933.07||
||||0.00|||.00||financial|
|||||||||asset|
|||||||||Transacti|
||||95,620,00||||||
|||||||||onal|
|Other|205001|1 Day|||||6,549.31||
||||0.00|||||financial|
|||||||||asset|
|||||||||Transacti|
||||12,414,00||||||
|||||||||onal|
|Other|205007|7 Days|||||9,066.92||
||||0.00|||||financial|
|||||||||asset|
|||||||||Transacti|
||||450,904,5|||60,000,60|||
|||||||||onal|
|Other|204001|GC001|||||37,980.12||
||||09.00|||0.00||financial|
|||||||||asset|
|||||||||Transacti|
||||65,101,30||||||
|||||||||onal|
|Other|204002|GC002|||||11,247.83||
||||2.00|||||financial|
|||||||||asset|
|||||||||Transacti|
||||78,002,34||||||
|||||||||onal|
|Other|204003|GC003|||||34,060.16||
||||0.00|||||financial|
|||||||||asset|
|||||||||Transacti|
||||172,006,8||||||
|||||||||onal|
|Other|204004|GC004|||||69,930.94||
||||80.00|||||financial|
|||||||||asset|

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|||||||||||Transacti||
||||44,402,22|||||||||
|||||||||||onal||
|Other|204007|GC007|||||||27,931.32|||
||||0.00|||||||financial||
|||||||||||asset||
||||952,031,0|||||68,916,39|433,548.1|||
|Total||||184,300|--|173,300|--|||--|--|
||||80.54|||||1.00|0|||
|Disclosure date of the||||||||||||
|announcement concerning the||||||||||||
||||23 Jan. 2014|||||||||
|board’s approval for the||||||||||||
|securities investments||||||||||||
|Disclosure date of the||||||||||||
|announcement concerning the||||||||||||
|general meeting’s approval for||||||||||||
|the securities investments (if||||||||||||
|any)||||||||||||

VI. Shareholdings in other listed companies
√ Applicable□ Inapplicable
In the reporting period, the Company sold a total of 5,000,000 shares in Everbright Bank. As at 31 Mar. 2015, the Company held 18,546,768 shares in Everbright Bank, of which the market value amounted to RMB 87,726,146.42 yuan.
VII. Investments in derivatives
□ Applicable√ Inapplicable
No such cases in the reporting period.
VIII. Researches, visits and interviews received in the reporting period
□ Applicable√ Inapplicable
No such cases in the reporting period.
Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd. Section IV. Financial Statements
I. Financial statements
1. Consolidated balance sheet
Prepared by Foshan Electrical and Lighting Co., Ltd.
31 Mar. 2015
Unit: RMB Yuan
||||
|-|-|-|
|Item|Closing balance|Opening balance|
|Current Assets:|||
|Monetary funds|996,110,258.05|989,718,395.60|
|Settlement reserves|||
|Intra-group lendings|||
|Financial assets measured at fair|||
|value of which changes are recorded in|68,916,391.00|20,320.00|
|current profits and losses|||
|Derivative financial assets|||
|Notes receivable|287,807,889.41|250,993,285.13|
|Accounts receivable|390,948,836.87|322,951,674.45|
|Accounts paid in advance|23,798,780.10|12,551,566.91|
|Premiums receivable|||
|Reinsurance premiums receivable|||
|Receivable reinsurance contract|||
|reserves|||
|Interest receivable|4,007,764.53|2,101,275.54|
|Dividend receivable|||
|Other accounts receivable|75,959,586.43|74,122,844.63|
|Financial assets purchased under|||
|agreements to resell|||
|Inventories|585,489,977.46|625,794,972.48|
|Assets held for sale|||
|Non-current assets due within 1 year|||
|Other current assets|10,354,867.56|31,783,068.68|
|Total current assets|2,443,394,351.41|2,310,037,403.42|

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
||||
|-|-|-|
|Non-current assets:|||
|Loans by mandate and advances|||
|granted|||
|Available-for-sale financial assets|553,725,906.69|581,157,988.22|
|Held-to-maturity investments|||
|Long-term accounts receivable|||
|Long-term equity investment|3,688,550.19|3,689,724.39|
|Investing real estate|||
|Fixed assets|448,089,815.22|463,267,701.29|
|Construction in progress|105,219,658.26|90,862,098.21|
|Engineering materials|||
|Disposal of fixed assets|||
|Production biological assets|||
|Oil-gas assets|||
|Intangible assets|185,577,184.96|187,114,129.71|
|R&D expense|||
|Goodwill|7,360,330.45|7,360,330.45|
|Long-term deferred expenses|1,230,925.74|918,958.73|
|Deferred income tax assets|37,203,451.96|41,696,214.79|
|Other non-current assets|49,126,454.98|50,599,787.19|
|Total of non-current assets|1,391,222,278.45|1,426,666,932.98|
|Total assets|3,834,616,629.86|3,736,704,336.40|
|Current liabilities:|||
|Short-term borrowings|||
|Borrowings from Central Bank|||
|Customer bank deposits and due to|||
|banks and other financial institutions|||
|Intra-group borrowings|||
|Financial liabilities measured at fair|||
|value of which changes are recorded in|||
|current profits and losses|||
|Derivative financial liabilities|||
|Notes payable|||
|Accounts payable|444,451,330.43|399,330,968.48|
|Accounts received in advance|49,189,121.14|60,842,257.61|

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
||||
|-|-|-|
|Financial assets sold for repurchase|||
|Handling charges and commissions|||
|payable|||
|Payroll payable|37,214,391.47|58,315,210.64|
|Tax payable|21,823,776.88|13,881,113.81|
|Interest payable|||
|Dividend payable|||
|Other accounts payable|22,444,277.20|21,923,820.48|
|Reinsurance premiums payable|||
|Insurance contract reserves|||
|Payables for acting trading of|||
|securities|||
|Payables for acting underwriting of|||
|securities|||
|Liabilities held for sale|||
|Non-current liabilities due within 1|||
|year|||
|Other current liabilities|||
|Total current liabilities|575,122,897.12|554,293,371.02|
|Non-current liabilities:|||
|Long-term borrowings|||
|Bonds payable|||
|Of which: preferred shares|||
|Perpetual bonds|||
|Long-term payables|||
|Long-term payroll payables|||
|Specific payables|||
|Estimated liabilities|61,438,275.16|61,438,275.16|
|Deferred income|10,888,916.46|10,955,833.27|
|Deferred income tax liabilities|12,381,224.26|15,516,937.71|
|Other non-current liabilities|||
|Total non-current liabilities|84,708,415.88|87,911,046.14|
|Total liabilities|659,831,313.00|642,204,417.16|
|Owners’ equity:|||
|Share capital|978,563,745.00|978,563,745.00|

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
||||
|-|-|-|
|Other equity instruments|||
|Of which: preferred shares|||
|Perpetual bonds|||
|Capital reserves|589,892,717.59|589,892,717.59|
|Less: Treasury stock|||
|Other comprehensive income|54,464,938.81|72,150,338.69|
|Specific reserves|||
|Surplus reserves|626,168,440.86|626,168,440.86|
|Provisions for general risks|||
|Retained profits|877,293,148.56|777,810,478.44|
|Total equity attributable to owners of|||
||3,126,382,990.82|3,044,585,720.58|
|the Company|||
|Minority interests|48,402,326.04|49,914,198.66|
|Total owners’ equity|3,174,785,316.86|3,094,499,919.24|
|Total liabilities and owners’ equity|3,834,616,629.86|3,736,704,336.40|

 Legal representative: Pan Jie Chief of the accounting work: Pan Jie Chief of the accounting organ: Yin Jianchun
2. Balance sheet of the Company
Unit: RMB Yuan
||||
|-|-|-|
|Item|Closing balance|Opening balance|
|Current Assets:|||
|Monetary funds|685,759,154.27|685,652,777.19|
|Financial assets measured at fair|||
|value of which changes are recorded in|68,916,391.00|20,320.00|
|current profits and losses|||
|Derivative financial assets|||
|Notes receivable|271,753,905.23|240,920,585.13|
|Accounts receivable|443,349,752.21|335,793,103.52|
|Accounts paid in advance|23,470,820.36|16,580,637.31|
|Interest receivable|||
|Dividend receivable|||
|Other accounts receivable|150,402,690.44|142,329,039.45|
|Inventories|541,486,418.15|578,978,618.17|

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
||||
|-|-|-|
|Assets held for sale|||
|Non-current assets due within 1 year|||
|Other current assets|1,927,835.89|27,359,093.82|
|Total current assets|2,187,066,967.55|2,027,634,174.59|
|Non-current assets:|||
|Available-for-sale financial assets|553,725,906.69|581,157,988.22|
|Held-to-maturity investments|||
|Long-term accounts receivable|||
|Long-term equity investment|445,638,489.95|445,639,664.15|
|Investing real estate|||
|Fixed assets|350,634,106.11|362,743,711.79|
|Construction in progress|100,202,936.84|88,784,906.41|
|Engineering materials|||
|Disposal of fixed assets|||
|Production biological assets|||
|Oil-gas assets|||
|Intangible assets|124,043,927.00|125,206,977.08|
|R&D expense|||
|Goodwill|||
|Long-term deferred expenses|||
|Deferred income tax assets|29,561,478.38|33,978,127.89|
|Other non-current assets|48,470,000.98|48,778,664.19|
|Total of non-current assets|1,652,276,845.95|1,686,290,039.73|
|Total assets|3,839,343,813.50|3,713,924,214.32|
|Current liabilities:|||
|Short-term borrowings|||
|Financial liabilities measured at fair|||
|value of which changes are recorded in|||
|current profits and losses|||
|Derivative financial liabilities|||
|Notes payable|||
|Accounts payable|525,866,071.57|447,190,248.26|
|Accounts received in advance|47,102,715.72|56,335,813.10|
|Payroll payable|35,940,700.33|56,655,167.35|
|Tax payable|13,947,004.18|5,496,341.46|

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
||||
|-|-|-|
|Interest payable|||
|Dividend payable|||
|Other accounts payable|82,629,037.32|89,738,558.57|
|Liabilities held for sale|||
|Non-current liabilities due within 1|||
|year|||
|Other current liabilities|||
|Total current liabilities|705,485,529.12|655,416,128.74|
|Non-current liabilities:|||
|Long-term borrowings|||
|Bonds payable|||
|Of which: preferred shares|||
|Perpetual bonds|||
|Long-term payables|||
|Long-term payroll payables|||
|Specific payables|||
|Estimated liabilities|61,438,275.16|61,438,275.16|
|Deferred income|10,152,666.45|10,180,833.31|
|Deferred income tax liabilities|9,670,968.01|12,733,711.71|
|Other non-current liabilities|||
|Total non-current liabilities|81,261,909.62|84,352,820.18|
|Total liabilities|786,747,438.74|739,768,948.92|
|Owners’ equity:|||
|Share capital|978,563,745.00|978,563,745.00|
|Other equity instruments|||
|Of which: preferred shares|||
|Perpetual bonds|||
|Capital reserves|586,987,786.91|586,987,786.91|
|Less: Treasury stock|||
|Other comprehensive income|54,464,938.81|72,150,338.69|
|Specific reserves|||
|Surplus reserves|626,168,440.86|626,168,440.86|
|Retained profits|806,411,463.18|710,284,953.94|
|Total owners’ equity|3,052,596,374.76|2,974,155,265.40|

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
||||
|-|-|-|
|Total liabilities and owners’ equity|3,839,343,813.50|3,713,924,214.32|

 3. Consolidated income statement
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jan.-Mar. 2015|Jan.-Mar. 2014|
|I. Total operating revenues|767,330,509.62|700,112,630.46|
|Including: Sales income|767,330,509.62|700,112,630.46|
|Interest income|||
|Premium income|||
|Handling charge and commission|||
|income|||
|II. Total operating costs|665,290,270.04|611,264,543.97|
|Including: Cost of sales|585,139,283.86|527,644,510.82|
|Interest expenses|||
|Handling charge and commission|||
|expenses|||
|Surrenders|||
|Net claims paid|||
|Net amount withdrawn for the|||
|insurance contract reserve|||
|Expenditure on policy dividends|||
|Reinsurance premium|||
|Taxes and associate charges|4,427,534.18|7,873,777.79|
|Selling and distribution expenses|21,558,608.80|34,383,380.15|
|Administrative expenses|56,945,253.80|46,428,642.44|
|Financial expenses|-6,645,447.07|-3,547,566.46|
|Asset impairment loss|3,865,036.47|-1,518,200.77|
|Add: Gain/(loss) from change in fair|||
||388,061.46|99,573.50|
|value (―-‖ means loss)|||
|Gain/(loss) from investment (―-‖|||
||17,245,640.35|-998,467.92|
|means loss)|||
|Including: share of profits in|||
||-1,174.20|-748,467.93|
|associates and joint ventures|||
|Foreign exchange gains (―-‖ means|||
|loss)|||
|III. Business profit (―-‖ means loss)|119,673,941.39|87,949,192.07|

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
||||
|-|-|-|
|Add: non-operating income|836,148.80|815,210.60|
|Including: Gains on disposal of|||
||0.00|0.00|
|non-current assets|||
|Less: non-operating expense|375,700.60|7,102.82|
|Including: Losses on disposal of|||
||301,166.86|1,954.00|
|non-current assets|||
|IV. Total profit (―-‖ means loss)|120,134,389.59|88,757,299.85|
|Less: Income tax expense|22,163,592.09|18,098,067.87|
|V. Net profit (―-‖ means loss)|97,970,797.50|70,659,231.98|
|Net profit attributable to owners of|||
||99,482,670.12|71,352,349.51|
|the Company|||
|Minority shareholders’ income|-1,511,872.62|-693,117.53|
|VI. After-tax net amount of other|||
||-17,685,399.88|-3,602,655.50|
|comprehensive incomes|||
|After-tax net amount of other|||
|comprehensive incomes attributable to|-17,685,399.88|-3,602,655.50|
|owners of the Company|||
|(I) Other comprehensive incomes|||
|that will not be reclassified into gains and|||
|losses|||
|1. Changes in net liabilities or|||
|assets with a defined benefit plan upon|||
|re-measurement|||
|2. Enjoyable shares in other|||
|comprehensive incomes in investees that|||
|cannot be reclassified into gains and|||
|losses under the equity method|||
|(II) Other comprehensive incomes|||
|that will be reclassified into gains and|-17,685,399.88|-3,602,655.50|
|losses|||
|1. Enjoyable shares in other|||
|comprehensive incomes in investees that|||
|will be reclassified into gains and losses|||
|under the equity method|||
|2. Gains and losses on fair|||
|value changes of available-for-sale|-17,685,399.88|-3,602,655.55|
|financial assets|||
|3. Gains and losses on|||
|reclassifying held-to-maturity|||

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
||||
|-|-|-|
|investments into available-for-sale|||
|financial assets|||
|4. Effective hedging gains and|||
|losses on cash flows|||
|5. Foreign-currency financial|||
|statement translation difference|||
|6. Other|||
|After-tax net amount of other|||
|comprehensive incomes attributable to|||
|minority shareholders|||
|VII. Total comprehensive incomes|80,285,397.62|67,056,576.48|
|Attributable to owners of the|||
||81,797,270.24|67,749,694.01|
|Company|||
|Attributable to minority|||
||-1,511,872.62|-693,117.53|
|shareholders|||
|VIII. Earnings per share|||
|(I) Basic earnings per share|0.102|0.073|
|(II) Diluted earnings per share|0.102|0.073|

 Where business mergers under the same control occurred in this reporting period, the net profit achieved by the merged parties before the business mergers was RMB 0, with the corresponding amount for the same period of last year being RMB 0.
Legal representative: Pan Jie Chief of the accounting work: Pan Jie Chief of the accounting organ: Yin Jianchun
4. Income statement of the Company
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jan.-Mar. 2015|Jan.-Mar. 2014|
|I. Total sales|781,216,056.78|710,595,431.74|
|Less: cost of sales|618,210,511.06|552,858,150.93|
|Business taxes and surcharges|2,651,393.36|6,029,367.32|
|Distribution expenses|20,415,785.93|33,765,852.39|
|Administrative expenses|43,456,848.62|36,807,829.79|
|Financial costs|-4,590,131.54|-1,751,397.19|
|Impairment loss|3,471,115.71|-1,576,852.66|
|Add: gain/(loss) from change in fairvalue (―-‖ means loss)|||
||388,061.46|99,573.50|
|Gain/(loss) from investment (―-‖|17,245,640.35|-998,467.92|

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
||||
|-|-|-|
|means loss)|||
|Including: income form investment|||
||-1,174.20|-748,467.93|
|on associates and joint ventures|||
|II. Business profit (―-‖ means loss)|115,234,235.45|83,563,586.74|
|Add: non-operating income|271,129.44|769,293.66|
|Including: Gains on disposal of|||
||0.00|0.00|
|non-current assets|||
|Less: non-operating expense|318,034.89|6,900.09|
|Including: Losses on disposal of|||
||243,564.96|1,954.00|
|non-current assets|||
|III. Total profit (―-‖ means loss)|115,187,330.00|84,325,980.31|
|Less: Income tax expense|19,060,820.76|16,058,164.69|
|IV. Net profit (―-‖ means loss)|96,126,509.24|68,267,815.62|
|V. After-tax net amount of other|||
||-17,685,399.88|-3,602,655.50|
|comprehensive incomes|||
|(I) Other comprehensive incomes that|||
|will not be reclassified into gains and|||
|losses|||
|1. Changes in net liabilities or|||
|assets with a defined benefit plan upon|||
|re-measurement|||
|2. Enjoyable shares in other|||
|comprehensive incomes in investees|||
|that cannot be reclassified into gains|||
|and losses under the equity method|||
|(II) Other comprehensive incomes|||
|that will be reclassified into gains and|-17,685,399.88|-3,602,655.50|
|losses|||
|1. Enjoyable shares in other|||
|comprehensive incomes in investees|||
|that will be reclassified into gains and|||
|losses under the equity method|||
|2. Gains and losses on fair value|||
|changes of available-for-sale financial|-17,685,399.88|-3,602,655.50|
|assets|||
|3. Gains and losses on|||
|reclassifying held-to-maturity|||
|investments into available-for-sale|||
|financial assets|||

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
||||
|-|-|-|
|4. Effective hedging gains and|||
|losses on cash flows|||
|5. Foreign-currency financial|||
|statement translation difference|||
|6. Other|||
|VI. Total comprehensive incomes|78,441,109.36|64,665,160.12|
|VII. Earnings per share|||
|(I) Basic earnings per share|||
|(II) Diluted earnings per share|||

5. Consolidated cash flow statement
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jan.-Mar. 2015|Jan.-Mar. 2014|
|I. Cash flows from operating activities:|||
|Cash received from sale of|||
||657,694,684.23|644,453,166.51|
|commodities and rendering of service|||
|Net increase of deposits from|||
|customers and dues from banks|||
|Net increase of loans from the|||
|central bank|||
|Net increase of funds borrowed from|||
|other financial institutions|||
|Cash received from premium of|||
|original insurance contracts|||
|Net cash received from reinsurance|||
|business|||
|Net increase of deposits of policy|||
|holders and investment fund|||
|Net increase of disposal of financial|||
|assets measured at fair value of which|||
|changes are recorded into current gains|||
|and losses|||
|Cash received from interest,|||
|handling charges and commissions|||
|Net increase of intra-group|||
|borrowings|||
|Net increase of funds in repurchase|||
|business|||

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
||||
|-|-|-|
|Tax refunds received|9,580,359.33|17,593,990.28|
|Other cash received relating to|||
||5,008,282.49|7,069,766.67|
|operating activities|||
|Subtotal of cash inflows from operating|||
||672,283,326.05|669,116,923.46|
|activities|||
|Cash paid for goods and services|380,621,884.13|383,145,988.91|
|Net increase of customer lendings|||
|and advances|||
|Net increase of funds deposited in|||
|the central bank and amount due from|||
|banks|||
|Cash for paying claims of the|||
|original insurance contracts|||
|Cash for paying interest, handling|||
|charges and commissions|||
|Cash for paying policy dividends|||
|Cash paid to and for employees|149,796,285.77|129,761,532.07|
|Various taxes paid|36,563,670.69|38,024,520.07|
|Other cash payment relating to|||
||38,163,445.10|36,172,107.73|
|operating activities|||
|Subtotal of cash outflows from|||
||605,145,285.69|587,104,148.78|
|operating activities|||
|Net cash flows from operating|||
||67,138,040.36|82,012,774.68|
|activities|||
|II. Cash flows from investing activities:|||
|Cash received from withdrawal of|||
|investments|||
|Cash received from return on|||
||17,496,814.66||
|investments|||
|Net cash received from disposal of|||
|fixed assets, intangible assets and other|||
|long-term assets|||
|Net cash received from disposal of|||
|subsidiaries or other business units|||
|Other cash received relating to|||
|investing activities|||
|Subtotal of cash inflows from investing|||
||17,496,814.66||
|activities|||

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
||||
|-|-|-|
|Cash paid to acquire fixed assets,|||
|intangible assets and other long-term|16,192,196.41|13,872,864.46|
|assets|||
|Cash paid for investment|62,132,280.92|1,645,600.00|
|Net increase of pledged loans|||
|Net cash paid to acquire subsidiaries|||
|and other business units|||
|Other cash payments relating to|||
|investing activities|||
|Subtotal of cash outflows from|||
||78,324,477.33|15,518,464.46|
|investing activities|||
|Net cash flows from investing activities|-60,827,662.67|-15,518,464.46|
|III. Cash Flows from Financing|||
|Activities:|||
|Cash received from capital|||
|contributions|||
|Including: Cash received from|||
|minority shareholder investments by|||
|subsidiaries|||
|Cash received from borrowings|||
|Cash received from issuance of|||
|bonds|||
|Other cash received relating to|||
|financing activities|||
|Subtotal of cash inflows from financing|||
|activities|||
|Repayment of borrowings|||
|Cash paid for interest expenses and|||
|distribution of dividends or profit|||
|Including: dividends or profit paid|||
|by subsidiaries to minority|||
|shareholders|||
|Other cash payments relating to|||
|financing activities|||
|Sub-total of cash outflows from|||
|financing activities|||
|Net cash flows from financing|||
|activities|||

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
||||
|-|-|-|
|IV. Effect of foreign exchange rate|||
||64,324.76|-479,084.11|
|changes on cash and cash equivalents|||
|V. Net increase in cash and cash|||
||6,374,702.45|66,015,226.11|
|equivalents|||
|Add: Opening balance of cash and|||
||989,718,395.60|897,675,824.22|
|cash equivalents|||
|VI. Closing balance of cash and cash|||
||996,093,098.05|963,691,050.33|
|equivalents|||

6. Cash flow statement of the Company
Unit: RMB Yuan
||||
|-|-|-|
|Item|Jan.-Mar. 2015|Jan.-Mar. 2014|
|I. Cash flows from operating activities:|||
|Cash received from sale of|||
||627,489,040.22|639,190,157.42|
|commodities and rendering of service|||
|Tax refunds received|9,571,389.54|17,593,990.28|
|Other cash received relating to|||
||4,119,297.51|6,310,719.11|
|operating activities|||
|Subtotal of cash inflows from operating|||
||641,179,727.27|663,094,866.81|
|activities|||
|Cash paid for goods and services|463,516,899.97|481,211,527.40|
|Cash paid to and for employees|72,668,015.91|62,805,713.62|
|Various taxes paid|12,368,608.54|20,956,804.44|
|Other cash payment relating to|||
||33,474,157.44|34,432,441.98|
|operating activities|||
|Subtotal of cash outflows from|||
||582,027,681.86|599,406,487.44|
|operating activities|||
|Net cash flows from operating|||
||59,152,045.41|63,688,379.37|
|activities|||
|II. Cash flows from investing activities:|||
|Cash received from retraction of|||
|investments|||
|Cash received from return on|||
||17,496,814.66||
|investments|||
|Net cash received from disposal of|||
|fixed assets, intangible assets and other|||
|long-term assets|||

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
||||
|-|-|-|
|Net cash received from disposal of|||
|subsidiaries or other business units|||
|Other cash received relating to|||
|investing activities|||
|Subtotal of cash inflows from investing|||
||17,496,814.66||
|activities|||
|Cash paid to acquire fixed assets,|||
|intangible assets and other long-term|14,479,638.28|11,928,600.46|
|assets|||
|Cash paid for investment|62,132,280.92|1,645,600.00|
|Net cash paid to acquire subsidiaries|||
|and other business units|||
|Other cash payments relating to|||
|investing activities|||
|Subtotal of cash outflows from|||
||76,611,919.20|13,574,200.46|
|investing activities|||
|Net cash flows from investing activities|-59,115,104.54|-13,574,200.46|
|III. Cash Flows from Financing|||
|Activities:|||
|Cash received from capital|||
|contributions|||
|Cash received from borrowings|||
|Cash received from issuance of|||
|bonds|||
|Other cash received relating to|||
|financing activities|||
|Subtotal of cash inflows from financing|||
|activities|||
|Repayment of borrowings|||
|Cash paid for interest expenses and|||
|distribution of dividends or profit|||
|Other cash payments relating to|||
|financing activities|||
|Sub-total of cash outflows from|||
|financing activities|||
|Net cash flows from financing|||
|activities|||
|IV. Effect of foreign exchange rate|52,276.21|-479,084.11|

Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
||||
|-|-|-|
|changes on cash and cash equivalents|||
|V. Net increase in cash and cash|||
||89,217.08|49,635,094.80|
|equivalents|||
|Add: Opening balance of cash and|||
||685,652,777.19|581,390,386.39|
|cash equivalents|||
|VI. Closing balance of cash and cash|||
||685,741,994.27|631,025,481.19|
|equivalents|||

II.Auditor’s report
Is this report audited?
□ Yes√ No
This report is not audited.
Board of Directors
Foshan Electrical and Lighting Co., Ltd. 23 April 2015