Financial Hightlights

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

At 31 December 2021
(All amounts in RMB millions)

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  As at 31 December
  Note 2020 2021
ASSETS
Non-current assets
Property, plant and equipment 15 364,187 355,031
Right-of-use assets 16 37,960 32,866
Goodwill 17 2,771 2,771
Interest in associates 19 38,802 41,278
Interest in joint ventures 20 5,656 7,138
Deferred income tax assets 13 745 271
Contract assets 21 103 71
Contract costs 22 3,672 4,025
Financial assets measured at fair value 23 3,493 3,715
Other assets 25 14,591 17,682
471,980 464,848
Current assets
Inventories 26 1,951 1,846
Contract assets 21 823 406
Accounts receivable 27 16,287 17,957
Prepayments and other current assets 28 15,882 17,925
Amounts due from ultimate holding company 45 10,570 10,558
Amounts due from related parties 45 195 270
Amounts due from domestic carriers 3,665 2,007
Financial assets measured at fair value 23 24,189 29,011
Short-term bank deposits and restricted deposits 24 11,989 11,968
Cash and cash equivalents 29 23,085 34,280
108,636 126,228
Total assets 580,616 591,076
EQUITY
Equity attributable to equity shareholders of the Company
Share capital 30 254,056 254,056
Reserves 31 (18,821) (17,228)
Retained profits
–— Proposed final dividend 32 5,018 2,937
– Others 86,334 92,572
326,587 332,337
Non-controlling interests 933 1,096
Total equity 327,520 333,433

  Note 2020 2021
LIABILITIES
Non-current liabilities
Long-term bank loans 33 2,482 1,835
Promissory notes 34 998
Corporate bonds 35 1,999
Lease liabilities 36 16,458 10,415
Deferred income tax liabilities 13 64 417
Deferred revenue 37 5,927 6,951
Amounts due to related parties 45 3,042 742
Other obligations 38 98 1,098
31,068 21,458
Current liabilities
Short-term bank loans 39 740 385
Commercial papers 40 7,000 6,875
Current portion of long-term bank loans 33 418 372
Current portion of promissory notes 34 1,004
Current portion of corporate bonds 35 1,000 2,039
Lease liabilities 36 11,503 12,144
Accounts payable and accrued liabilities 41 134,437 140,124
Bills payable 5,482 4,246
Taxes payable 2,805 1,435
Amounts due to ultimate holding company 45 1,640 4,028
Amounts due to related parties 45 9,183 12,926
Amounts due to domestic carriers 2,291 2,262
Current portion of other obligations 38 2,529 2,519
Contract liabilities 21 42,641 45,704
Advances from customers 359 122
222,028 236,185
Total liabilities 253,096 257,643
Total equity and liabilities 580,616 591,076
Net current liabilities (113,392) (109,957)
Total assets less current liabilities 358,588 354,891

The notes on pages 106 to 199 are an integral part of these consolidated financial statements.
Approved and authorised for issue by the Board of Directors on 11 March 2022 and signed on behalf of the Board by:

Liu LiehongLi Yuzhuo
DirectorDirector