Foshan Lighting disclosed the 2016 semi-annual report and the announcement of the acquisition of part of the equity interest in the holding subsidiary on the evening of August 24. In the first half of the year, the company achieved revenue of 1.756 billion yuan and realized a net profit of 207 million yuan attributable to shareholders of listed companies. In addition, Foshan Lighting acquired a 30% stake in Foshan Chanchang Electric (Gao Ming) Co., Ltd. at a price of 40.507 million yuan. Foshan Lighting disclosed the 2016 semi-annual report and the announcement of the acquisition of part of the equity of the holding subsidiary on the evening of August 24. In the first half of the year, the company achieved revenue of 1.756 billion yuan and realized a net profit of 207 million yuan attributable to shareholders of listed companies. In addition, Foshan Lighting acquired a 30% stake in Foshan Chanchang Electric (Gao Ming) Co., Ltd. at a price of 40,507,350 yuan. Double-income growth in revenue, LED lighting products accounted for more than 60% Foshan Lighting disclosed the 2016 semi-annual report on the evening of August 24. In the first half of 2016, the company achieved revenue of 1.756 billion yuan, an increase of 15.17% year-on-year; The net profit of the company's shareholders was 207 million yuan, a year-on-year increase of 106.39%; the net cash flow from operating activities was 292 million yuan, a year-on-year increase of 193.76%. In terms of products, the sales revenue of LED lighting products was 1.059 billion yuan, up 42.27% year-on-year. The sales revenue of traditional lighting products was 684 million yuan, down 10.84% ​​year-on-year. In terms of regions, domestic sales revenue was 1.161 billion yuan, up 10.61% year-on-year. Foreign sales revenue was 582 million yuan, a year-on-year increase of 25.96%. Foshan Lighting's main business composition The securities false statement has already compensated 190 million yuan Foshan Lighting China Daily has made relevant explanations on the securities false statement. In March 2013, the Guangdong Securities Regulatory Bureau imposed administrative penalties on Foshan Lighting Information Disclosure and Violation. From September 2013 to May 2016, a total of 2,767 plaintiffs filed their respective disputes on securities false statements, respectively, to the Guangzhou Intermediate People's Court. The lawsuit was filed, and Foshan Lighting was required to bear civil liability for information disclosure violations, and Foshan Lighting was required to pay 368.845 million yuan and 1.328 million Hong Kong dollars. From November 2014 to December 2015, the Guangzhou Intermediate People's Court issued a judgment on the above 2,755 cases, requesting Foshan Lighting to compensate the 2755 plaintiffs for a total of RMB 18,273,500 and HK$7,358,200, and to bear a legal fee of RMB 3,323,200. At present, in addition to 12 cases (involving the amount of complaints of 2,733,600 yuan) have not yet been decided, and 31 plaintiffs outside the appeal (involving the amount of the complaint of 1,368,200 yuan), the judgment has all taken effect. As of August 22, 2016, Foshan Lighting had paid compensation of 1,090.78 million yuan (including legal fees) to 2,715 plaintiffs (excluding 37 plaintiffs who were dismissed). The series of cases of securities misrepresentation disputes affecting the company's total profit for 2014 is 61.438 million yuan, affecting the company's 2015 total profit of 133,889,900 yuan. It is expected that the litigation will not have a significant impact on the company's 2016 financial position. In addition, Foshan Lighting Holdings subsidiary Suzhou Mengtai Libao Optoelectronics Co., Ltd. was filed for bankruptcy liquidation by the creditor Suzhou Litech Electronics Co., Ltd. to the Suzhou Industrial Park People's Court. The Suzhou Industrial Park People's Court has ruled that the applicant should accept the applicant's Suzhou Union. Thai bankruptcy liquidation application, and has appointed Jiangsu Qianyuan Law Firm as the administrator of Suzhou Mengtai. Foshan Lighting's investment in Suzhou Mengtai was 24.36 million yuan, and the credits that had not yet been confirmed by the judiciary were 1418.73 million yuan, totaling 38.547 million yuan. In 2015, the Company has made provision for asset impairment in full for the above assets. It is expected that the bankruptcy liquidation of Suzhou Mengtai will not have a significant impact on the Company's 2016 annual operating results. Acquisition of a 30% stake in the holding subsidiary Foshan Lighting announced on the same day that on August 23, the company signed an “Equity Transfer Agreement†with Youchang Lighting Equipment Co., Ltd., and the company acquired the shares held by Youchang Lighting Equipment Co., Ltd. at a price of 40.507 million yuan. Foshan Chanchang Electric (Gao Ming) Co., Ltd. 30% of the shares. After the completion of this transaction, Chanchang will become a wholly-owned subsidiary of the company. Chanchang Company was established in August 2005 with a registered capital of 72.78 million yuan. It mainly produces and operates lamps, electric light source products and their accessories, and related engineering installation and consulting services. Before the completion of the transaction, Foshan Lighting accounted for 70% of its shares, and Yuchang Lighting Equipment Co., Ltd. accounted for 30% of the shares. Foshan Lighting said that the acquisition will help the company further integrate the plant land resources and park construction planning, strengthen the management and resource utilization of Chanchang Company, and enhance the company's profitability.
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