Securities code: Foshan Electrical And Lighting Co.Ltd(000541) / 200541 securities abbreviation: Foshan Electrical And Lighting Co.Ltd(000541) / Guangdong lighting B Announcement No.: 2022024
Foshan Electrical And Lighting Co.Ltd(000541) 2021 annual report summary
1、 Important note: the summary of this annual report comes from the full text of the annual report. In order to fully understand the company’s operating results, financial status and future development plan, investors should carefully read the full text of the annual report in the media designated by the CSRC. All directors attended the meeting of the board of directors to review the annual report. The non-standard audit opinion tips □ applicable √ not applicable to the profit distribution plan of common stock or the plan of converting accumulation fund into share capital during the reporting period considered by the board of directors √ applicable □ not applicable whether to convert accumulation fund into share capital □ yes √ no the company’s profit distribution plan of common stock reviewed and approved by the board of directors is: Based on the total share capital at the time of disclosure of the company’s 2021 annual report 1361994647 After deducting the remaining 13 million A-Shares of repurchased shares in the company’s special account for repurchases, i.e. 1348994647 shares, the company will distribute a cash dividend of 1 yuan (including tax) to all shareholders for every 10 shares, and give 0 bonus shares (including tax), and will not convert the accumulation fund into share capital. Preferred stock profit distribution plan for the reporting period adopted by the board of directors □ applicable √ not applicable II. Basic information of the company 1. Company profile
Stock abbreviation Foshan Electrical And Lighting Co.Ltd(000541) / Guangdong lighting B Stock Code: Foshan Electrical And Lighting Co.Ltd(000541) / 200541
Shenzhen Stock Exchange
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Huang Zhenhuan, Huang Yufen
Office address: No. 64, Fenjiang North Road, Chancheng District, Foshan City, Guangdong Province
Fax (0757) 82816276 (0757) 82816276
Tel: (0757) 82810239 (0757) 82966028
E-mail [email protected]. [email protected].
2. Introduction to main business or products during the reporting period (1) main business and products of the company
The company’s main business is to develop, produce and sell high-quality green energy-saving lighting products, motor vehicle lamp products and electrical products, and provide customers with a complete set of lighting, electrical solutions and motor vehicle lamp design solutions. The company’s main products include LED lighting, traditional lighting, motor vehicle lamps, switches, sockets and other products. The company’s “FSL” and “Fenjiang” brands are recognized as well-known trademarks in China. (2) Main business model
① Procurement mode
The company’s main raw materials include LED lamp beads, electronic components, aluminum substrates, plastic parts, metal materials, etc. the procurement work is mainly carried out by bidding, and a bidding committee composed of key departments is established to supervise the bidding work. Generally, there are several alternative suppliers for each main raw material to ensure fair purchase price, timely supply of raw materials and guaranteed quality.
② Production mode
A. Conventional product production
For conventional products, the company formulates the production plan for the next month by analyzing the monthly sales and future market demand changes, combined with the safety inventory benchmark. Each production workshop produces products according to the plan, so as to control the inventory and ensure the sales demand.
B. Order production
Unlike traditional lighting products, which have stable specifications and few changes, LED lighting products are updated quickly, and different enterprises often have different requirements for the appearance and performance indicators of products. Therefore, some orders, especially export orders, need to be specially produced according to the requirements of customers. For such orders, the production is determined by sales, so that the company can formulate the raw material purchase plan according to the production plan, effectively control the inventory and purchase price of raw materials, reduce the occupation of funds and maximize the operation efficiency of the company.
C. Combination of independent production and outsourcing processing
The company has strong production capacity. Most products and parts are produced independently by the company. Only a small number of parts and products with low technical requirements are entrusted to other manufacturers for processing and production according to the requirements of the company. The company tracks its production process and strictly controls the quality of the final products. Through the outsourcing processing of some products, the company’s product supply has been guaranteed.
③ Sales model
China sales adopts the sales mode of the combination of agent distribution and direct supply of engineering projects. In terms of channels, the company has existing hardware circulation channels, home channels, engineering channels, industrial lighting channels, e-commerce and retail channels. In the front loading market, motor vehicle lamp products are mainly in the mode of directly providing automobile lamps to automobile main engine manufacturers, and in the rear loading market, they are mainly in the mode of agents.
The mode of OEM and independent brand is adopted for foreign sales, and the mode of agent is also adopted for overseas sales of independent brand.
(3) Key performance drivers
During the reporting period, the global covid-19 pneumonia epidemic has not been fully controlled, and the downward pressure on the economy has been increasing. However, under the guidance of national policies such as “carbon peak, carbon neutralization”, new infrastructure, new urbanization, major engineering construction and new energy vehicle development, it has brought new development opportunities to the lighting market and vehicle lamp market. In accordance with the general idea of “stabilizing the basic sector and developing new tracks”, the company continued to strengthen the innovation drive, promote the reform of marketing mode, solve the capital operation, optimize the industrial layout, promote the improvement of management, and vigorously explore the market segments. In 2021, the company acquired Nanning Liaowang, which provided strong support for the company to quickly enter the automobile OEM market and strengthen and expand the automobile lamp business. At the same time, with the evolution of the industry competition pattern, consumers pay more attention to product quality and brand, companies with weak market competitiveness will be gradually eliminated by the market, and large enterprises or enterprises with core competitiveness will get more market opportunities. Relying on the advantages of technology, brand, channel and scale, through continuous R & D investment and technological innovation, the company continues to promote the technological upgrading of its main products, improve product quality, strengthen market development and optimize industrial layout. At the same time, it is in a more favorable position in the process of improving market concentration by improving the level of production automation, effectively controlling procurement costs and improving production efficiency.
(4) Industry of the company
At present, the overall growth rate of the lighting market is gradually slowing down, and there is an obvious problem of structural overcapacity in the industry. Under the influence of the rigid rise of operating costs, the profit space of enterprises is squeezed to a certain extent. From the perspective of the global market, the exchange rate of RMB against the US dollar continues to fluctuate, the global covid-19 pneumonia epidemic has not been fully controlled, the export of the lighting industry is facing many uncertain factors, and the export enterprises have returned one after another, further intensifying the competition in the Chinese market.
Under the dual pressure of market demand and fierce competition, the lighting industry dominated by small, medium-sized and micro enterprises will enter a deep reshuffle stage, the process of industrial chain integration will be accelerated, and enterprises with capital and manufacturing advantages will have the opportunity to expand market share and quickly expand the scale by integrating high-quality targets with channels, technology and prospects.
Generally speaking, at present, China’s lighting market is still relatively scattered, and the industry concentration is not high. Although the market share tends to concentrate on advantageous brands, there is no leading enterprise with absolute advantages so far. After years of development, the company has accumulated industry advantages in terms of brand, production scale, channel construction and product R & D. It is one of the leading enterprises in China’s lighting industry and has strong market competitiveness.
3. Main accounting data and financial indicators (1) whether the company needs to retroactively adjust or restate the accounting data of previous years in recent three years □ yes √ no
Unit: Yuan
Year end 2021 year end 2020 year end increase or decrease over the previous year year end 2019 year end
Total assets 969959252861851933691411 13.85% 647795537332
Net assets attributable to shareholders of listed companies 5800558834626392130454 – 7.40% 494420123625
20212020 year-on-year increase or decrease 2019
Operating income 477269046914374491445272 27.44% 333757674766
Net profit attributable to shareholders of the listed company 2500919658731691418534 – 21.09% 296077926 eleven
Net profit attributable to shareholders of listed companies after deducting non recurring profits and losses of 1500103816027679504607 – 45.80% 28375315431
Net cash flow from operating activities -2770250852639482833190 -170.00 16% 509889,792.05
Basic earnings per share (yuan / share) 0.1854 0.2349 – 21.07% 0.2195
Diluted earnings per share (yuan / share) 0.1836 0.2327 – 21.10% 0.2174
Weighted average return on net assets: 4.23%, 5.82% – 1.59%, 6.18%
Note: the Company repurchased some shares in 2021. For details, see “III. important matters 3. Repurchased shares” in this report. According to the rules for the preparation of information disclosure of companies offering securities to the public No. 9 – Calculation and disclosure of return on net assets and earnings per share (revised in 2010), the earnings per share of each comparison period shall be recalculated according to the adjusted number of shares. (2) Quarterly main accounting data
Unit: Yuan
First quarter second quarter third quarter fourth quarter
Operating income 82567801399112966410221129179782297152555052997
Net profit attributable to shareholders of listed company 4220339957683521433681457735745807868720
Net profit attributable to shareholders of listed companies after deducting non recurring profits and losses of 3926 Hainan Mining Co.Ltd(601969) , 5968448782, 4985928546 and 120058863
Net cash flow generated from operating activities -43895582895587 -43895718987
Whether the above financial indicators or their total amount are significantly different from the financial indicators related to the quarterly report and semi annual report disclosed by the company □ yes √ No 4. Share capital and shareholders (1) number of ordinary shareholders and preferred shareholders with voting rights restored and shareholding of the top 10 shareholders
Unit: shares
Ordinary 69896 annual report disclosure date at the end of the reporting period 69546 voting at the end of the reporting period 0 before the disclosure date of the annual report 0
Total number of ordinary shareholders at the end of the previous month
