FSL(SZ:000541)2022-12-06 11:28Company Overview - Foshan Electrical and Lighting Co., Ltd. was established in 1958 and listed on the Shenzhen Stock Exchange in 1993 for A-shares and in 1995 for B-shares [2] - In 2015, Guangsheng Company became the controlling shareholder [2] - The company primarily produced traditional lighting products until 2012, when it began to focus on LED products, which now account for over 50% of total sales [2] R&D and Future Development - The company holds 73,006,150 shares of Guoxuan High-Tech, with any potential sale dependent on various factors and necessary approvals [3] - Emphasis on R&D, particularly for LED products, is crucial due to rapid technological advancements [3] - Collaboration with universities and research institutions is ongoing to enhance R&D capabilities [3] - The company plans to develop smart products and other high-tech lighting solutions in the future [3] Competitive Advantages - The company has developed significant brand, technology, financial, channel, and cost advantages over its 58 years of operation, contributing to strong market competitiveness [3] Financial Practices - As of 2016, the company has fully recovered its commercial acceptance bills, ceasing their use from that year onward [4] - The company’s dividend policy stipulates that at least 30% of distributable profits will be allocated as cash dividends each year, subject to board and shareholder approval [4]