Consolidated Statement of Financial Position

(All amounts in RMB millions)
As at 31 December
Note 2018 2017
ASSETS
Non-current assets
Property, plant and equipment 15 384,475 416,596
Lease prepayments 16 9,290 9,313
Goodwill 17 2,771 2,771
Interest in associates 19 35,758 33,233
Interest in joint ventures 20 3,966 2,368
Deferred income tax assets 13 3,401 5,973
Contract assets 21 570 -
Contract costs 22 5,632 -
Financial assets at fair value through other comprehensive income 23 3,903 4,286
Other assets 24 14,645 20,721
464,411 495,261
Current assets
Inventories and consumables 25 2,388 2,239
Contract assets 21 1,254 -
Accounts receivable 26 14,433 13,964
Prepayments and other current assets 27 11,106 13,801
Amounts due from ultimate holding company 44 7,431 239
Amounts due from related parties 44 935 3,274
Amounts due from domestic carriers 3,812 4,683
Financial assets at fair value through profit and loss 770 160
Short-term bank deposits and restricted deposits 28 3,720 5,526
Cash and cash equivalents 29 30,060 32,836
75,909 76,722
Total assets 540,320 571,983
EQUITY
Equity attributable to equity shareholders of the Company
Share capital 30 254,056 254,056
Reserves 31 (20,154) (20,912)
Retained profits
- Proposed final dividend 32 4,100 1,591
- Others 75,920 69,315
313,922 304,050
Non-controlling interests 364 297
Total equity 314,286 304,347
As at 31 December
Note 2018 2017
LIABILITIES
Non-current liabilities
Long-term bank loans 33 3,173 3,473
Corporate bonds 35 999 17,981
Deferred income tax liabilities 13 111 108
Deferred revenue 36 3,609 3,020
Amounts due to related parties 44 3,042 -
Other obligations 37 190 432
11,124 25,014
Current liabilities
Short-term bank loans 38 15,085 22,500
Commercial papers 39 - 8,991
Current portion of long-term bank loans 33 441 410
Current portion of promissory notes 34 - 17,960
Accounts payable and accrued liabilities 40 122,458 125,260
Taxes payable 911 1,121
Amounts due to ultimate holding company 44 1,214 2,176
Amounts due to related parties 44 8,843 8,126
Amounts due to domestic carriers 2,144 2,538
Dividend payable 920 920
Current portion of corporate bonds 35 16,994 -
Current portion of deferred revenue 36 78 350
Current portion of other obligations 37 2,844 2,987
Contract liabilities 21 42,650 -
Advances from customers 328 49,283
214,910 242,622
Total liabilities 226,034 267,636
Total equity and liabilities 540,320 571,983
Net current liabilities (139,001) (165,900)
Total assets less current liabilities 325,410 329,361
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.

Approved and authorised for issue by the Board of Directors on 13 March 2019 and signed on behalf of the Board by:

Wang Xiaochu
Director

Zhu Kebing
Director

MY ANNUAL REPORT

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