Foshan Electrical and Lighting Co Ltd

Foshan Electrical and Lighting announced on the evening of October 7 that the company has handed over the central plot on Fenjiang North Road to the Foshan Chancheng District Land Reserve Center for acquisition, and the Chancheng Branch of the Foshan Natural Resources Bureau publicly listed the central plot for transfer at the Chancheng Sub-center of the Foshan Public Resources Trading Center on September 30. The plot covers an area of 76,275.39 square meters, with a net land area of 65,920.46 square meters. Its planned function is mainly Class II residential land, with a floor area ratio not exceeding 2.8. According to the appraisal report issued by the appraisal agency, as of the appraisal base date of September 30, 2026, the appraised value of the central plot is 1.23668 billion yuan. This listing uses a floor price of 6,700 yuan per square meter as the starting bid price. Foshan Electrical and Lighting stated that if the transfer is fully completed at 6,700 yuan per square meter, it expects to receive compensation income from the credited reserve acquisition of about 550 million yuan. After deducting related costs, expenses, and taxes before the reserve acquisition, the expected net gain is about 340 million yuan. The company said this credited reserve acquisition is mainly to revitalize assets, improve the return on assets, and provide financial support for the future development of its main business, but the counterparty, transaction area, and transaction price are still uncertain. In the first half of 2026, the company's operating revenue was 4.095 billion yuan, down 6.63 percent year on year, and net profit attributable to the parent company was 41.7056 million yuan, down 63.73 percent year on year.