Annual Report
2018
Annual Report 2018

Financial Summary

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(Amounts in millions, except per share data)

2018 RMB Year ended 31 December
2017 RMB 2016 RMB 2015 RMB 2014 RMB
Results of operation
Operating revenues 377,124 366,229 352,534 331,517 324,755
Depreciation and amortisation 75,493 74,951 67,942 67,666 66,348
Network operations and support 116,062 103,969 94,156 81,433 68,885
Selling, general and administrative 59,422 58,434 56,426 54,480 62,753
Personnel expenses 59,736 56,043 54,504 52,586 50,698
Other operating expenses 37,697 45,612 52,286 48,905 47,555
Operating expenses 348,410 339,009 325,314 305,070 296,239
Operating profit 28,714 27,220 27,220 26,447 28,516
Gain from Tower Assets Disposal - - - 5,214 -
Net finance costs (2,708) (3,291) (3,235) (4,273) (5,291)
Investment income 38 147 40 8 6
Income from investments in associates 2,104 877 91 (698) 34
Profit before taxation 28,148 24,953 24,116 26,698 23,265
Income tax (6,810) (6,192) (5,993) (6,552) (5,498)
Profit for the year 21,338 18,761 18,123 20,146 17,767
Other comprehensive income for the year
Items that will not be reclassified subsequently to profit or loss:
Change in fair value of investments in equity instruments at fair value through other comprehensive income (324) - - - -
Deferred tax on change in fair value of investments in equity instruments at fair value through other comprehensive income 82 - - - -
Items that may be reclassified subsequently to profit or loss:          
Change in fair value of available-for-sale equity securities - (400) (228) 652 (54)
Deferred tax on change in fair value of available-for-sale equity securities - 100 57 (163) 14
Exchange difference on translation of financial statements of subsidiaries outside mainland China 154 (259) 190 129 3
Share of other comprehensive income of associates (7) 7 6 3 (3)
Other comprehensive income for the year, net of tax (95) (552) 25 621 (40)
Total comprehensive income for the year 21,243 18,209 18,148 20,767 17,727
Profit attributable to
Equity holders of the Company 21,210 18,617 18,018 20,058 17,688
Non-controlling interests 128 144 105 88 79
Profit for the year 21,338 18,761 18,123 20,146 17,767
Total comprehensive income attributable to
Equity holders of the Company 21,115 18,065 18,043 20,679 17,648
Non-controlling interests 128 144 105 88 79
Total comprehensive income for the year 21,243 18,209 18,148 20,767 17,727
Basic earnings per share 0.26 0.23 0.22 0.25 0.22
2018
RMB		 As at 31 December of the year
2017
RMB		 2016
RMB		 2015
RMB		 2014
RMB
Financial condition
Property, plant and equipment, net 407,795 406,257 389,671 374,004 372,898
Construction in progress 66,644 73,106 80,386 69,107 53,183
Other non-current assets 115,938 110,281 108,367 108,369 75,674
Cash and bank deposits 23,480 22,510 27,948 34,388 21,815
Other current assets 49,525 49,040 46,186 43,879 37,967
Total assets 663,382 661,194 652,558 629,747 561,537
Current liabilities 258,920 275,408 319,133 256,074 206,553
Non-current liabilities 60,363 59,089 17,077 68,883 64,841
Total liabilities 319,283 334,497 336,21 0 324,957 271,394
Total equity attributable to equity holders of the Company 343,069 325,867 315,377 303,823 289,218
Non-controlling interests 1,030 830 971 967 925
Total equity 344,099 326,697 316,348 304,790 290,143
Total liabilities and equity 663,382 661,194 652,558 629,747 561,537
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