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佛山照明(000541)公告正文

粤照明B:2015年第一季度报告全文(英文版)

公告日期:2015-04-27

             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 RemindersThe Board of Directors, the Supervisory Committee, directors, supervisors and senior managementstaff of Foshan Electrical and Lighting Co., Ltd. (hereinafter referred to as ―the Company‖) warrantthat 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 thefollowing:
    Name              Position            Reason for not attending the session in person        Name of the proxy
    Ye zaiyou         Director            ON business                                           Liu xingmingPan Jie, company principal and chief of the accounting work, and Yin Jianchun, chief of theaccounting organ (chief of accounting), hereby confirm that the Financial Report enclosed in thisreport 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 ShareholdersI. Main accounting data and financial indicatorsDoes the Company adjust retrospectively or restate accounting data of previous years due to change of theaccounting 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
    the Company after extraordinary gains and                    81,758,984.51                  70,585,391.84                      15.83%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                 ExplanationGains/losses on the disposal of non-current assets (including the
                                                                                         -301,166.90offset part of the asset impairment provisions)Government grants recognized in the current period, except forthose acquired in the ordinary course of business or granted at
                                                                                          624,400.72certain quotas or amounts according to the government’s unifiedstandardsGains and losses on change in fair value from tradable financialassets and tradable financial liabilities, as well as investment
                                                                                       17,063,266.56income from disposal of tradable financial assets and tradablefinancial 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 theCompany
    Non-operating income and expense other than the above                                         137,214.38Other gain and loss items that meet the definition of an
                                                                                              433,548.10extraordinary 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 inthe 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 saidexplanatory announcement as a recurrent gain/loss item□ Applicable √ InapplicableNo such cases in the reporting period.II. Total number of shareholders at the period-end and shareholdings of top 10 shareholders1. Total number of common shareholders at the period-end and shareholdings of top 10 commonshareholders
                                                                                                                                Unit: shareTotal number of common
                                                                                                                                      94,673shareholders 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
                                                                                       heldOSRAM Holding
                     Foreign
    Company                                              13.47%       131,815,685
                     corporationLimitedProsperity Lamps
                     Foreign
    &       Components                                   10.50%       102,751,648
                     corporationLimitedEssence
    International        Foreign
                                                      2.02%        19,735,497Securities (Hong corporationKong) Co., Ltd.DBS
                     Foreign
    VICKERS(HON                                           1.79%        17,501,979
                     corporationG KONG) LTD
                                                    Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.A/C CLIENTSAgriculturalBank of China
    –China Post Core Other                        1.64%        16,002,000Growth StockFund
                    Foreign
    Zhuang Jianyi                                  0.85%          8,324,132
                    individualNational Social
    Security Fund       Other                      0.80%          7,875,787Portfolio No. 401AgriculturalBank of ChinaCo., Ltd.—SWSMU ChinaSecurities
    Environmental       Other                      0.53%          5,226,561ProtectionIndustry IndexClassificationSecuritiesInvestment Fund
                    Domestic
    Zou Hanshu                                     0.51%          5,000,000
                    individualBBH A/CVANGUARD
    EMERGING            Foreign
                                               0.47%          4,592,770
    MARKETS             corporationSTOCK INDEXFUND
                                   Shareholdings of top 10 non-restricted common shareholders
                                                                                                      Variety of shares
       Name of shareholder              Number of non-restricted common shares held
                                                                                                 Variety            Number
                                                                                            RMB ordinary
    OSRAM Holding Company Limited                                                 131,815,685                             131,815,685
                                                                                            shares
    Prosperity Lamps & Components                                                               RMB ordinary
                                                                              102,751,648                             102,751,648
    Limited                                                                                     shares
                                                                                            DomesticallyEssence International Securities
                                                                               19,735,497 listed foreign               19,735,497(Hong Kong) Co., Ltd.
                                                                                            shares
                                                       Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
                                                                                                DomesticallyDBS VICKERS(HONG KONG)
                                                                                  17,501,979 listed foreign               17,501,979LTD A/C CLIENTS
                                                                                                shares
    Agricultural Bank of China –China                                                              RMB ordinary
                                                                                  16,002,000                              16,002,000
    Post Core Growth Stock Fund                                                                     shares
                                                                                                Domestically
    Zhuang Jianyi                                                                       8,324,132 listed foreign               8,324,132
                                                                                                shares
    National Social Security Fund                                                                   RMB ordinary
                                                                                    7,875,787                              7,875,787
    Portfolio No. 401                                                                               sharesAgricultural Bank of China Co.,Ltd.—SWS MU China Securities
                                                                                                RMB ordinary
    Environmental Protection Industry                                                   5,226,561                              5,226,561
                                                                                                sharesIndex Classification SecuritiesInvestment Fund
                                                                                                RMB ordinary
    Zou Hanshu                                                                          5,000,000                              5,000,000
                                                                                                shares
    BBH A/C VANGUARD                                                                                Domestically
    EMERGING MARKETS STOCK                                                              4,592,770 listed foreign               4,592,770
    INDEX FUND                                                                                      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’srelationship or persons acting in
                                       unknown whether there was any associated relationship among other shareholders of the topconcert among the above-mentioned
                                       ten shareholders, or whether there is any action-in-concert among them regarding toshareholders
                                       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 commonpart 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 Companyconduct any promissory repo during the reporting period?□ Yea √ NoNo such cases in the reporting period.2. Total number of preferred shareholders at the period-end and shareholdings of top 10 preferredshareholders□ Applicable √ Inapplicable
                                                Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
                                 Section III. Significant EventsI. Significant changes of the major accounting statement items and financial indicators for thereporting period, as well as the reasons for these changes√ Applicable □ Inapplicable
                                                                                                Unit: RMB Yuan
                                                      Opening balance/
                                Closing balance/                              Ratio of
    Statement item                                       Same period of                             Reason for change
                                Current period                                change
                                                      last year
    Financial assets measured      68,916,391.00         20,320.00               339055.47%         Stocks purchased
    at fair value with changes                                                                      increased.recorded into current gainsand losses
    Prepayments                    23,798,780.10         12,551,566.91           89.61%             Prepayments for
                                                                                                 materials increased.
    Interest receivable            4,007,764.53          2,101,275.54            90.73%             The interest receivable
                                                                                                 on term deposits in
                                                                                                 banks increased.
    Other current assets           10,354,867.56         31,783,068.68           -67.42%            The undeducted input
                                                                                                 tax decreased.
    Long-term deferred             1,230,925.74          918,958.73              33.95%             Decoration of the rented
    expenses                                                                                        plants increased.
    Taxes and fares payable        21,823,776.88         13,881,113.81           57.22%             Various taxes and fares
                                                                                                 increased.
    Selling expenses               21,558,608.80         34,383,380.15           -37.30%            The marketing expenses
                                                                                                 decreased.
    Financial expenses             -6,645,447.07         -3,547,566.46           87.32%             Exchange gains
                                                                                                 increased.
    Asset impairment losses        3,865,036.47          -1,518,200.77           354.58%            Bad-debt provisions
                                                                                                 increased.
    Gains on fair value changes    388,061.46            99,573.50               289.72%            The fair value of
                                                                                                 transactional financial
                                                                                                 assets changed.
    Investment gains               17,245,640.35         -998,467.92             1827.21%           The gains on sale of
                                                                                                 securities increased.
    Non-operating expenses         375,700.60            7,102.82                5189.46%           Scrapped assets
                                                                                                 increased.
                                                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 rebates
                                                                                                 decreased.
    Cash received as               17,496,814.66         0.00                    100.00%            The gains on sale of
    investment gains                                                                                stocks increased.
    Cash paid for investment       62,132,280.92         1,645,600.00            3675.66%           Securities investments
                                                                                                 increased.II. Progress of significant events and analysis & explanations on their influence and solutions√ Applicable □ Inapplicable1. In Mar. 2013, CSRC Guangdong administered an administrative punishment on the illegal informationdisclosure of the Company. During the period from Sept. 2013 to Mar. 2015, a total of 2279 plaintiffs separatelysued the Company to Guangzhou Intermediate People’s Court for false securities statement, demanding civilcompensations of RMB 335.8907 million and HKD 1.328 million from the Company for its illegal informationdisclosure. In Nov.-Dec. 2014, Guangzhou Intermediate Court issued the judgments of the first instance for the955 cases among the aforesaid cases, ruling that the Company should make compensations of RMB 60.4108million to the 955 plaintiffs and at the same time bear the court acceptance fees of RMB 1.0275 million. Notsatisfied with the judgments, the Company has filed an appeal to Guangdong High Court. The appeal is stillpending. 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. (―Guoxuan High-tech‖),where the Company held a stake, through Jiangsu Dongyuan Electrical Group Co., Ltd. (―Dongyuan Electrical‖)was reviewed and approved unconditionally by the Listed Company Merger and Reorganization ExaminationCommittee of CSRC on 2 Apr. 2015. Upon completion of the back door listing, the equity interests held by theCompany in Guoxuan High-tech would be converted to restricted equity interests in Dongyuan Electrical. (Fordetails, 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 over 5% inthe reporting period or such commitments made in previous period and carried down into thereporting period□ Applicable √ InapplicableNo such cases in the reporting period.IV. Predict the operating results of Jan.-Jun. 2015Warning of possible loss or considerable YoY change of the accumulated net profit made during the period-beginto 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
                                            (share)                                                (RMB
                                 Yuan)                ge                    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       0Disclosure date of theannouncement concerning the
                                  23 Jan. 2014board’s approval for thesecurities investmentsDisclosure date of theannouncement concerning thegeneral meeting’s approval forthe securities investments (ifany)VI. Shareholdings in other listed companies√ Applicable □ InapplicableIn the reporting period, the Company sold a total of 5,000,000 shares in Everbright Bank. As at 31 Mar. 2015, theCompany held 18,546,768 shares in Everbright Bank, of which the market value amounted to RMB87,726,146.42 yuan.VII. Investments in derivatives□ Applicable √ InapplicableNo such cases in the reporting period.VIII. Researches, visits and interviews received in the reporting period□ Applicable √ InapplicableNo such cases in the reporting period.
                                                       Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
                                   Section IV. Financial StatementsI. Financial statements1. Consolidated balance sheetPrepared by Foshan Electrical and Lighting Co., Ltd.
                                                            31 Mar. 2015
                                                                                                                     Unit: RMB Yuan
                  Item                                  Closing balance                               Opening balanceCurrent 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                                    20,320.00current 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   contractreserves
    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 underagreements 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 advancesgranted
    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                               3,736,704,336.40Current liabilities:
    Short-term borrowings
    Borrowings from Central Bank
    Customer bank deposits and due tobanks and other financial institutions
    Intra-group borrowings
    Financial liabilities measured at fairvalue of which changes are recorded incurrent 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 commissionspayable
    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   ofsecurities
    Payables for acting underwriting ofsecurities
    Liabilities held for sale
    Non-current liabilities due within 1year
    Other current liabilities
    Total current liabilities                                      575,122,897.12                                554,293,371.02Non-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                                642,204,417.16Owners’ 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                                777,810,478.44Total equity attributable to owners of
                                                            3,126,382,990.82                               3,044,585,720.58the 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 JieChief of the accounting organ: Yin Jianchun2. Balance sheet of the Company
                                                                                                            Unit: RMB Yuan
                   Item                        Closing balance                               Opening balanceCurrent 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                                    20,320.00current 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                               2,027,634,174.59Non-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                               3,713,924,214.32Current liabilities:
    Short-term borrowings
    Financial liabilities measured at fairvalue of which changes are recorded incurrent 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 1year
    Other current liabilities
    Total current liabilities                                705,485,529.12                                655,416,128.74Non-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                                739,768,948.92Owners’ 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                               3,713,924,214.323. 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 commissionincome
    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 commissionexpenses
          Surrenders
          Net claims paid
          Net amount withdrawn for theinsurance 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                                 -1,518,200.77Add: Gain/(loss) from change in fair
                                                                        388,061.46                                    99,573.50value (―-‖ means loss)
        Gain/(loss) from investment (―-‖
                                                                    17,245,640.35                                    -998,467.92means loss)
        Including:   share    of   profits   in
                                                                          -1,174.20                                  -748,467.93associates and joint ventures
        Foreign exchange gains (―-‖ meansloss)
    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                                          0.00non-current assets
    Less: non-operating expense                                         375,700.60                                      7,102.82
         Including: Losses on disposal of
                                                                         301,166.86                                      1,954.00non-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                                 71,352,349.51the Company
    Minority shareholders’ income                                   -1,511,872.62                                   -693,117.53VI. After-tax net amount of other
                                                                     -17,685,399.88                                 -3,602,655.50comprehensive incomes
    After-tax     net    amount      of    other
    comprehensive incomes attributable to                                -17,685,399.88                                 -3,602,655.50owners of the Company
         (I) Other comprehensive incomesthat will not be reclassified into gains andlosses
           1. Changes in net liabilities orassets with a defined benefit plan uponre-measurement
           2. Enjoyable shares in othercomprehensive incomes in investees thatcannot be reclassified into gains andlosses under the equity method
         (II) Other comprehensive incomes
    that will be reclassified into gains and                             -17,685,399.88                                 -3,602,655.50losses
           1. Enjoyable shares in othercomprehensive incomes in investees thatwill be reclassified into gains and lossesunder the equity method
           2. Gains and losses on fair
    value    changes     of    available-for-sale                        -17,685,399.88                                 -3,602,655.55financial 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-salefinancial assets
           4. Effective hedging gains andlosses on cash flows
           5. Foreign-currency financialstatement translation difference
           6. Other
    After-tax     net        amount    of    othercomprehensive incomes attributable tominority shareholders
    VII. Total comprehensive incomes                                         80,285,397.62                                 67,056,576.48
    Attributable        to    owners    of     the
                                                                         81,797,270.24                                 67,749,694.01Company
    Attributable              to        minority
                                                                         -1,511,872.62                                   -693,117.53shareholdersVIII. Earnings per share
    (I) Basic earnings per share                                                0.102                                        0.073
    (II) Diluted earnings per share                                             0.102                                        0.073Where business mergers under the same control occurred in this reporting period, the net profit achieved by the merged parties beforethe 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 JieChief of the accounting organ: Yin Jianchun4. 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 fair
                                                                           388,061.46                                     99,573.50value (―-‖ means loss)
    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                                   -748,467.93on 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                                          0.00non-current assets
    Less: non-operating expense                                          318,034.89                                      6,900.09
    Including: Losses on disposal of
                                                                       243,564.96                                      1,954.00non-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                                 68,267,815.62V. After-tax net amount of other
                                                                   -17,685,399.88                                 -3,602,655.50comprehensive incomes
    (I) Other comprehensive incomes thatwill not be reclassified into gains andlosses
    1. Changes in net liabilities orassets with a defined benefit plan uponre-measurement
    2.   Enjoyable        shares   in    othercomprehensive incomes in investeesthat cannot be reclassified into gainsand losses under the equity method
    (II) Other comprehensive incomes
    that will be reclassified into gains and                           -17,685,399.88                                 -3,602,655.50losses
    1.   Enjoyable        shares   in    othercomprehensive incomes in investeesthat will be reclassified into gains andlosses under the equity method
    2. Gains and losses on fair value
    changes of available-for-sale financial                            -17,685,399.88                                 -3,602,655.50assets
    3.     Gains         and    losses     on
    reclassifying                held-to-maturity
    investments        into     available-for-salefinancial assets
                                                   Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
    4. Effective hedging gains andlosses on cash flows
    5.      Foreign-currency          financialstatement translation difference
    6. Other
    VI. Total comprehensive incomes                                      78,441,109.36                                  64,665,160.12VII. Earnings per share
    (I) Basic earnings per share
    (II) Diluted earnings per share5. Consolidated cash flow statement
                                                                                                                   Unit: RMB Yuan
                      Item                          Jan.-Mar. 2015                                Jan.-Mar. 2014I. Cash flows from operating activities:
    Cash       received        from    sale     of
                                                                  657,694,684.23                                   644,453,166.51commodities and rendering of service
    Net      increase     of    deposits      fromcustomers and dues from banks
    Net increase of loans from thecentral bank
    Net increase of funds borrowed fromother financial institutions
    Cash received from premium oforiginal insurance contracts
    Net cash received from reinsurancebusiness
    Net increase of deposits of policyholders and investment fund
    Net increase of disposal of financialassets measured at fair value of whichchanges are recorded into current gainsand losses
    Cash       received        from      interest,handling charges and commissions
    Net       increase         of     intra-groupborrowings
    Net increase of funds in repurchasebusiness
                                                    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                                   7,069,766.67operating activitiesSubtotal of cash inflows from operating
                                                                   672,283,326.05                                  669,116,923.46activities
    Cash paid for goods and services                                 380,621,884.13                                 383,145,988.91
    Net increase of customer lendingsand advances
    Net increase of funds deposited inthe central bank and amount due frombanks
    Cash for paying claims of theoriginal insurance contracts
    Cash for paying interest, handlingcharges 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                                   36,172,107.73operating activities
    Subtotal       of    cash    outflows        from
                                                                   605,145,285.69                                 587,104,148.78operating activities
    Net     cash        flows    from    operating
                                                                    67,138,040.36                                   82,012,774.68activitiesII. Cash flows from investing activities:
    Cash received from withdrawal ofinvestments
    Cash       received       from    return    on
                                                                    17,496,814.66investments
    Net cash received from disposal offixed assets, intangible assets and otherlong-term assets
    Net cash received from disposal ofsubsidiaries or other business units
      Other cash received relating toinvesting activitiesSubtotal of cash inflows from investing
                                                                    17,496,814.66activities
                                                    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                                   13,872,864.46assets
    Cash paid for investment                                       62,132,280.92                                    1,645,600.00
    Net increase of pledged loans
    Net cash paid to acquire subsidiariesand other business units
    Other cash payments relating toinvesting activities
    Subtotal        of     cash   outflows     from
                                                                    78,324,477.33                                   15,518,464.46investing activities
    Net cash flows from investing activities                           -60,827,662.67                                  -15,518,464.46
    III.     Cash        Flows    from    FinancingActivities:
       Cash      received      from       capitalcontributions
       Including: Cash received fromminority shareholder investments bysubsidiaries
       Cash received from borrowings
       Cash received from issuance ofbonds
       Other cash received relating tofinancing activitiesSubtotal of cash inflows from financingactivities
       Repayment of borrowings
       Cash paid for interest expenses anddistribution of dividends or profit
        Including: dividends or profit paid
    by        subsidiaries         to      minorityshareholders
        Other cash payments relating tofinancing activities
    Sub-total       of     cash    outflows    fromfinancing activities
    Net      cash        flows    from    financingactivities
                                                    Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.IV. Effect of foreign exchange rate
                                                                         64,324.76                                     -479,084.11changes on cash and cash equivalentsV. Net increase in cash and cash
                                                                       6,374,702.45                                  66,015,226.11equivalents
      Add: Opening balance of cash and
                                                                   989,718,395.60                                   897,675,824.22cash equivalentsVI. Closing balance of cash and cash
                                                                   996,093,098.05                                   963,691,050.33equivalents6. Cash flow statement of the Company
                                                                                                                    Unit: RMB Yuan
                      Item                           Jan.-Mar. 2015                                Jan.-Mar. 2014I. Cash flows from operating activities:
    Cash       received        from    sale      of
                                                                   627,489,040.22                                   639,190,157.42commodities and rendering of service
    Tax refunds received                                                 9,571,389.54                                  17,593,990.28
    Other cash received relating to
                                                                       4,119,297.51                                   6,310,719.11operating activitiesSubtotal of cash inflows from operating
                                                                   641,179,727.27                                   663,094,866.81activities
    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                                  34,432,441.98operating activities
    Subtotal      of    cash     outflows        from
                                                                   582,027,681.86                                   599,406,487.44operating activities
    Net    cash        flows     from    operating
                                                                      59,152,045.41                                  63,688,379.37activitiesII. Cash flows from investing activities:
    Cash received from retraction ofinvestments
    Cash       received      from     return    on
                                                                      17,496,814.66investments
    Net cash received from disposal offixed assets, intangible assets and otherlong-term assets
                                                    Report for the First Quarter of 2015 of Foshan Electrical and Lighting Co., Ltd.
    Net cash received from disposal ofsubsidiaries or other business units
    Other cash received relating toinvesting activitiesSubtotal of cash inflows from investing
                                                                    17,496,814.66activities
    Cash paid to acquire fixed assets,
    intangible assets and other long-term                               14,479,638.28                                   11,928,600.46assets
    Cash paid for investment                                         62,132,280.92                                    1,645,600.00
    Net cash paid to acquire subsidiariesand other business units
    Other cash payments relating toinvesting activities
    Subtotal        of     cash   outflows     from
                                                                    76,611,919.20                                   13,574,200.46investing activities
    Net cash flows from investing activities                            -59,115,104.54                                 -13,574,200.46
    III.     Cash        Flows    from    FinancingActivities:
       Cash      received      from       capitalcontributions
       Cash received from borrowings
       Cash received from issuance ofbonds
       Other cash received relating tofinancing activitiesSubtotal of cash inflows from financingactivities
       Repayment of borrowings
       Cash paid for interest expenses anddistribution of dividends or profit
        Other cash payments relating tofinancing activities
    Sub-total       of     cash    outflows    fromfinancing activities
    Net      cash        flows    from    financingactivities
    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 equivalentsV. Net increase in cash and cash
                                                            89,217.08                                  49,635,094.80equivalents
    Add: Opening balance of cash and
                                                      685,652,777.19                                 581,390,386.39cash equivalentsVI. Closing balance of cash and cash
                                                      685,741,994.27                                 631,025,481.19equivalentsII. Auditor’s reportIs this report audited?□ Yes √ NoThis report is not audited.
                                                                         Board of Directors
                                                                Foshan Electrical and Lighting Co., Ltd.
                                                                           23 April 2015