Annual Report
2018

Consolidated Statement of Financial Position

at 31 December 2018 (Amounts in millions)

Notes 31 December 2018 RMB 31 December 2017 RMB
ASSETS
Non-current assets
Property, plant and equipment, net 4 407,795 406,257
Construction in progress 5 66,644 73,106
Lease prepayments 21,568 22,262
Goodwill 6 29,922 29,920
Intangible assets 7 14,161 12,391
Interests in associates 9 38,051 35,726
Investments 10 - 1,154
Equity instruments at fair value through other comprehensive income 11 852
Deferred tax assets 12 6,544 5,479
Other assets 13 4,840 3,349
Total non-current assets 590,377 589,644
Current assets
Inventories 14 4,832 4,123
Income tax recoverable 121 693
Accounts receivable, net 15 20,475 22,096
Contract assets 16 478 -
Prepayments and other current assets 17 23,619 22,128
Short-term bank deposits 6,814 3,100
Cash and cash equivalents 18 16,666 19,410
Total current assets 73,005 71,550
Total assets 663,382 661,194
Notes 31 December 2018 RMB 31 December 2017 RMB
LIABILITIES AND EQUITY
Current liabilities
Short-term debt 19 49,537 54,558
Current portion of long-term debt 19 1,139 1,146
Accounts payable 20 107,887 119,321
Accrued expenses and other payables 21 43,497 98,695
Contract liabilities 22 55,783 -
Income tax payable 601 404
Current portion of finance lease obligations 101 51
Current portion of deferred revenues 23 375 1,233
Total current liabilities 258,920 275,408
Net current liabilities (185,915) (203,858)
Total assets less current liabilities 404,462 385,786
Non-current liabilities
Long-term debt 19 44,852 48,596
Finance lease obligations 115 26
Deferred revenues 23 1,454 1,828
Deferred tax liabilities 12 13,138 8,010
Other non-current liabilities 804 629
Total non-current liabilities 60,363 59,089
Total liabilities 319,283 334,497
Equity
Share capital 24 80,932 80,932
Reserves 25 262,137 244,935
Total equity attributable to equity holders of the Company 343,069 325,867
Non-controlling interests 1,030 830
Total equity 344,099 326,697
Total liabilities and equity 663,382 661,194

Approved and authorised for issue by the Board of Directors on 19 March 2019.

Ke Ruiwen
Executive Director,
President and
Chief Operating Officer

Zhu Min
Executive Director,
Executive Vice President and
Chief Financial Officer

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