Consolidated Statement of Financial Position

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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