粤照明Ｂ：2021年第一季度报告全文（英文版）.PDF

Foshan Electrical and Lighting Co.,Ltd.First Quarterly Report 2021 1 FOSHAN ELECTRICAL AND LIGHTING CO.,LTD.FIRST QUARTERLY REPORT 2021 April 2021Foshan Electrical and Lighting Co.,Ltd.First Quarterly Report 2021 2 Part I Important Notes The Board of Directors(or the“Board”),the Supervisory Committee as well as the directors,supervisors and senior management of Foshan Electrical and Lighting Co.,Ltd.(hereinafter referred to as the“Company”)hereby guarantee the factuality,accuracy and completeness of the contents of this Report and its summary,and shall be jointly and severally liable for any misrepresentations,misleading statements or material omissions therein.All the Companys directors have attended the Board meeting for the review of this Report and its summary.Wu Shenghui,the Companys legal representative,Tang Qionglan,the Companys Chief Financial Officer(CFO),and Peng Fentao,the person-in-charge of the Companys accounting organ(equivalent to accounting manager)hereby guarantee that the Financial Statements carried in this Report are factual,accurate and complete.This Report has been prepared in both Chinese and English.Should there be any discrepancies or misunderstandings between the two versions,the Chinese version shall prevail.Foshan Electrical and Lighting Co.,Ltd.First Quarterly Report 2021 3 Part II Key Corporate Information I Key Financial Information Indicate by tick mark whether there is any retrospectively restated datum in the table below.Yes No Reason for retrospective restatement:Business combination involving entities under common control.Q1 2021 Q1 2020 Change(%)Before Restated Restated Operating revenue(RMB)825,678,013.99 560,357,960.57 560,357,960.57 47.35%Net profit attributable to the listed companys shareholders(RMB)42,203,399.57 32,282,776.35 31,238,269.29 35.10%Net profit attributable to the listed companys shareholders before exceptional gains and losses(RMB)39,266,019.69 34,187,987.98 34,187,987.98 14.85%Net cash generated from/used in operating activities(RMB)48,558,082.07-24,040,955.33-21,233,501.52 328.69%Basic earnings per share(RMB/share)0.0305 0.0234 0.0226 34.96%Diluted earnings per share(RMB/share)0.0305 0.0234 0.0226 34.96%Weighted average return on equity(%)0.71%0.65%0.62%0.09%31 March 2021 31 December 2020 Change(%)Before Restated Restated Total assets(RMB)7,851,627,428.83 8,519,336,914.11 8,519,336,914.11-7.84%Equity attributable to the listed companys shareholders(RMB)5,629,948,280.73 6,263,921,304.54 6,263,921,304.54-10.12%Note:Due to share repurchases in the Reporting Period,the total share capital is calculated on a weighted average basis according to the time of share changes when computing the earnings per share,and the earnings per share of the same period of last year were adjusted accordingly as per the aforesaid principle.Exceptional gains and losses:Applicable Not applicable Unit:RMB Item Q1 2021 Note Foshan Electrical and Lighting Co.,Ltd.First Quarterly Report 2021 4 Gain or loss on disposal of non-current assets(inclusive of impairment allowance write-offs)149,083.95 Government subsidies charged to current profit or loss(exclusive of government subsidies given in the Companys ordinary course of business at fixed quotas or amounts as per the governments uniform standards)4,237,000.00 Capital occupation charges on non-financial enterprises that are recognized in profit or loss 303,275.64 Gain or loss on fair-value changes on held-for-trading and derivative financial assets and liabilities&income from disposal of held-for-trading and derivative financial assets and liabilities and other debt investments(exclusive of the effective portion of hedges that arise in the Companys ordinary course of business)197,950.00 Non-operating income and expense other than the above 94,596.37 Less:Income tax effects 1,785,892.81 Non-controlling interests effects(net of tax)258,633.27 Total 2,937,379.88-Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the Explanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the PublicExceptional Gain/Loss Items:Applicable Not applicable No such cases for the Reporting Period.II Total Number of Shareholders and Holdings of Top 10 Shareholders at the End of the Reporting Period 1.Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as Holdings of Top 10 Shareholders Unit:share Number of ordinary shareholders at the period-end 73,406 Number of preferred shareholders with resumed voting rights at the period-end(if any)0 Top 10 shareholders Name of shareholder Nature of shareholder Shareholding percentage Total shares held Restricted shares held Shares in pledge or frozen Status Shares Hongkong Wah Shing Holding Foreign legal person 13.47%188,496,430 0 In pledge 92,363,251 Foshan Electrical and Lighting Co.,Ltd.First Quarterly Report 2021 5 Company Limited Prosperity Lamps&Components Limited Foreign legal person 10.50%146,934,857 0 Guangdong Electronics Information Industry Group Ltd.State-owned legal person 8.77%122,694,246 0 In pledge 32,532,815 Shenzhen Rising Investment Development Co.,Ltd.State-owned legal person 5.12%71,696,136 0 In pledge 35,800,000 Central Huijin Asset Management Co.,Ltd.State-owned legal person 2.42%33,878,900 0 Essence International Securities(Hong Kong)Co.,Ltd.Foreign legal person 2.34%32,780,128 0 Special securities account for repurchases of Foshan Electrical and Lighting Co.,Ltd.Other 2.22%31,070,300 0 Rising Investment Development Limited Foreign legal person 1.82%25,482,252 0 China Merchants Securities(Hong Kong)Co.,Ltd State-owned legal person 1.04%14,504,423 0 DBS Vickers(Hong Kong)Ltd A/C Clients Foreign legal person 0.94%13,118,691 0 Top 10 unrestricted shareholders Name of shareholder Unrestricted shares held Shares by type Type Shares Foshan Electrical and Lighting Co.,Ltd.First Quarterly Report 2021 6 Hongkong Wah Shing Holding Company Limited 188,496,430 RMB-denominated ordinary stock 188,496,430 Prosperity Lamps&Components Limited 146,934,857 RMB-denominated ordinary stock 146,934,857 Guangdong Electronics Information Industry Group Ltd.122,694,246 RMB-denominated ordinary stock 122,694,246 Shenzhen Rising Investment Development Co.,Ltd.71,696,136 RMB-denominated ordinary stock 71,696,136 Central Huijin Asset Management Co.,Ltd.33,878,900 RMB-denominated ordinary stock 33,878,900 Essence International Securities(Hong Kong)Co.,Ltd.32,780,128 Domestically listed foreign stock 32,780,128 Special securities account for repurchases of Foshan Electrical and Lighting Co.,Ltd.31,070,300 RMB-denominated ordinary stock 31,070,300 Rising Investment Development Limited 25,482,252 Domestically listed foreign stock 25,482,252 China Merchants Securities(Hong Kong)Co.,Ltd 14,504,423 Domestically listed foreign stock 14,504,423 DBS Vickers(Hong Kong)Ltd A/C Clients 13,118,691 Domestically listed foreign stock 13,118,691 Related or acting-in-concert parties among the shareholders above Among the top 10 shareholders holding unrestricted ordinary shares,Hongkong Wah Shing Holding Company Limited,Shenzhen Rising Investment Development Co.,Ltd.,Guangdong Electronics Information Industry Group Ltd.and Rising Investment Development Limited are acting-in-concert parties.Apart from that,it is unknown whether there is among the top 10 shareholders any other related parties or acting-in-concert parties as defined in the Administrative Measures for the Acquisition of Listed Companies.Top 10 shareholders involved in securities margin trading(if any)None Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of the Company conducted any promissory repo during the Reporting Period.Yea No No such cases in the Reporting Period.Foshan Electrical and Lighting Co.,Ltd.First Quarterly Report 2021 7 2.Number of Preferred Shareholders and Shareholdings of Top 10 of Them Applicable Not applicable Foshan Electrical and Lighting Co.,Ltd.First Quarterly Report 2021 8 Part III Significant Events I Changes in Key Financial Statement Line Items and Explanation of why Applicable Not applicable Unit:RMB Item Q1 2021/31 March 2021 Q1 2020/31 December 2020 Change(%)Explanation of why Held-for-trading financial assets 203,249,119.16 407,619,201.36-50.14%Disinvestment in banks wealth management products upon maturity in the Current Period Other receivables 35,876,484.95 20,194,968.19 77.65%Increase in export tax rebates in the Current Period Notes payable 630,905,437.90 480,971,214.80 31.17%Increase in procurement in the Current Period Employee benefits payable 53,626,433.18 82,485,090.47-34.99%Payment in the Current Period of the year-end bonuses of last year to the employees Other current liabilities 7,373,666.58 5,503,702.07 33.98%Increase in output tax to be recognized as a result of an increase in contract liabilities at the period-end Other non-current liabilities 30,636.07 1,244,064.84-97.54%Settlement of loan of subsidiary to be liquidated and de-registered in the Current Period Treasury shares 207,340,531.49 N/A Repurchase of treasury shares in the Current Period Operating revenue 825,678,013.99 560,357,960.57 47.35%Increase in operating revenue in the Current Period Cost of sales 676,742,067.81 450,843,200.86 50.11%Mainly due to the increase in the cost of sales with the rising of the operating revenue for the Reporting Period;for the Company starts to implement the new standards governing revenue since 1 January 2020,the freight related to contract performance was turned into the cost of sales for accounting,thus the data of the same period of last year shall be adjusted accordingly.R&D expense 35,175,015.78 19,828,312.32 77.40%The Company increased R&D investments in the Current Period,with an expanded R&D team and an increase in R&D projects.Finance costs -5,512,578.78-13,912,036.15 60.38%Mainly due to the decrease in interest of the Company and fluctuation of exchange rates for the Reporting Period.Foshan Electrical and Lighting Co.,Ltd.First Quarterly Report 2021 9 Other income 4,247,000.00 122,198.82 3375.48%Increase in government grants received in the ordinary course of business in the Current Period Gain on changes in fair value -6,092,000.00-1,528,400.00-298.59%As the forward forex settlement products outstanding at the beginning of the period were delivered upon maturity in the period,the gain/loss on changes in the corresponding fair value was transferred to return on investment Credit impairment loss 3,529,334.65-730,317.40 583.26%Reversal of allowances for expected credit losses due to a decrease in accounts receivable Asset disposal income 149,083.95 N/A Disposal of assets in the Current Period Non-operating income 269,122.60 72,280.75 272.33%Refunds of handling charges received in the Current Period Non-operating expense 174,526.23 684,869.08-74.52%Decrease in loss on disposal of fixed assets in the Current Period Gross profit 53,310,213.85 37,767,693.04 41.15%Increase in operating revenue in the Current Period Income tax expense 9,123,807.96 6,072,161.84 50.26%Increase in gross profit in the Current Period Net profit 44,186,405.89 31,695,531.20 39.41%Increase in gross profit in the Current Period Net profit attributable to owners of the Company as the parent 42,203,399.57 31,238,269.29 35.10%Increase in net profit in the Current Period Net profit attributable to non-controlling interests 1,983,006.32 457,261.91 333.67%Increase in profits of non-wholly-owned subsidiaries in the Current Period Other comprehensive income,net of tax-468,665,430.52 100,555,938.69-566.07%Decrease in the fair value of investments in other equity instruments in the Current Period Other comprehensive income,net of tax,attributable to owners of the Company as the parent-468,665,430.52 100,555,938.69-566.07%Decrease in the fair value of investments in other equity instruments in the Current Period Changes in the fair value of investments in other equity instruments-468,616,484.90 100,595,067.77-565.84%Decrease in the fair value of investments in other equity instruments in the Current Period Net cash generated from/used in operating activities 48,558,082.07-21,233,501.52 328.69%Increase in sales collected Net cash generated from/used in financing activities-207,510,992.86-N/A Repurchase of treasury shares in the Current Period Net increase in cash and cash equivalents 35,692,307.61 256,047,246.55-86.06%Decrease in net cash generated from financing activities in the Current Period Foshan Electrical and Lighting Co.,Ltd.First Quarterly Report 2021 10 II Progress,Influence and Solutions with regard to Significant Events Applicable Not applicable The Company held the 6th Meeting of the 9th Board of Directors and the 3rd Extraordinary General Meeting of 2020 respectively on 2 December 2020 and 18 December 2020.On the meetings,the Proposal on the Related-party Transaction of Acquisition of 100%Equities of Hunan Keda New Energy Investment and Development Co.,Ltd.was reviewed and approved,and the acquisition by the Company was agreed.As for the above-mentioned equity transfer,the registration for the transfer of share ownership was completed.For more details,please refer to the Announcement on the Related-party Transaction of Acquisition of 100%Equities of Hunan Keda New Energy Investment and Development Co.,Ltd.and Announcement on the Progress of the Acquisition of 100%Equities of Hunan Keda New Energy Investment and Development Co.,Ltd.disclosed on Cninfo()respectively on 3 December 2020 and 28 January 2021.Summary of the significant event Disclosure date Index to the related announcement Announcement on the Related-party Transaction of Acquisition of 100%Equities of Hunan Keda New Energy Investment and Development Co.,Ltd.3 December 2020 Announcement on the Progress of the Acquisition of 100%Equities of Hunan Keda New Energy Investment and Development Co.,Ltd.28 January 2021 Progress on any share repurchases:Applicable Not applicable On 18 December 2020,the Company called the 3rd Extraordinary General Meeting of 2020,at which the Proposal on the Repurchase of Part of the Companys Renminbi-Denominated Ordinary Shares(A-Shares)and Domestic Listed Foreign Investment Shares(B-Shares)was examined and approved.As of 31 March 2021,the Company had repurchased a total of 31,070,300 A-Shares and 3,799,702 B-shares of the Company through centralized bidding.The repurchased shares account for 2.49%of the Companys total share capital.The A-shares were repurchased at a highest price of RMB6.70 per share and a lowest price of RMB6.03 per share,with a total cost of RMB196.959 million(excluding transaction costs).The B shares were repurchased a highest price of HKD3.40 per share and a lowest price of HKD3.14 per share,with a total cost of HKD12.4382 million(excluding transaction costs).Foshan Electrical and Lighting Co.,Ltd.First Quarterly Report 2021 11 Progress on reducing