Financial Hightlights

Consolidated Statement of Financial Position

(All amounts in RMB millions)

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  As at 31 December
  Note 2017 2018
ASSETS
Non-current assets
Property, plant and equipment 15 416,596 384,475
Lease prepayments 16 9,313 9,290
Goodwill 17 2,771 2,771
Interest in associates 19 33,233 35,758
Interest in joint ventures 20 2,368 3,966
Deferred income tax assets 13 5,973 3,401
Contract assets 21 570
Contract costs 22 5,632
Financial assets at fair value through other comprehensive income 23 4,286 3,903
Other assets 24 20,721 14,645
495,261 464,411
Current assets
Inventories and consumables 25 2,239 2,388
Contract assets 21 1,254
Accounts receivable 26 13,964 14,433
Prepayments and other current assets 27 13,801 11,106
Amounts due from ultimate holding company 44 239 7,431
Amounts due from related parties 44 3,274 935
Amounts due from domestic carriers 4,683 3,812
Financial assets at fair value through profit and loss 160 770
Short-term bank deposits and restricted deposits 28 5,526 3,720
Cash and cash equivalents 29 32,836 30,060
76,722 75,909
Total assets 571,983 540,320
EQUITY
Equity attributable to equity shareholders of the Company
Share capital 30 254,056 254,056
Reserves 31 (20,912) (20,154)
Retained profits
– Proposed final dividend 32 1,591 4,100
– Others 69,315 75,920
304,050 313,922
Non-controlling interests 297 364
Total equity 304,347 314,286

  As at 31 December
  Note 2017 2018
LIABILITIES
Non-current liabilities
Long-term bank loans 33 3,473 3,173
Corporate bonds 35 17,981 999
Deferred income tax liabilities 13 108 111
Deferred revenue 36 3,020 3,609
Amounts due to related parties 44 3,042
Other obligations 37 432 190
25,014 11,124
Current liabilities
Short-term bank loans 38 22,500 15,085
Commercial papers 39 8,991
Current portion of long-term bank loans 33 410 441
Current portion of promissory notes 34 17,960
Accounts payable and accrued liabilities 40 125,260 122,458
Taxes payable 1,121 911
Amounts due to ultimate holding company 44 2,176 1,214
Amounts due to related parties 44 8,126 8,843
Amounts due to domestic carriers 2,538 2,144
Dividend payable 920 920
Current portion of corporate bonds 35 16,994
Current portion of deferred revenue 36 350 78
Current portion of other obligations 37 2,987 2,844
Contract liabilities 21 42,650
Advances from customers 49,283 328
242,622 214,910
Total liabilities 267,636 226,034
Total equity and liabilities 571,983 540,320
Net current liabilities (165,900) (139,001)
Total assets less current liabilities 329,361 325,410

Note: The Group has initially applied IFRS/HKFRS 15 and IFRS/HKFRS 9 (2014) at 1 January 2018. Under the transition method chosen, comparative information is not restated. See Note 2.

The notes on pages 102 to 193 are an integral part of these consolidated financial statements.