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Annual Report 2017
Financial Summary
For the five-year ended 31 December 2017
(All amounts in RMB millions, except per share data)
Selected financial summary for 2013 to 2017, including selected consolidated statement of income data and consolidated statement of financial position data for 2013, 2014, 2015, 2016 and 2017 were prepared in accordance with IFRSs/HKFRSs.
RESULTS
Selected Statement of Income Data
| 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|
| Revenue | 274,829 | 274,197 | 277,049 | 284,681 | 295,038 |
| Interconnection charges | (12,617) | (12,739) | (13,093) | (14,599) | (20,208) |
| Depreciation and amortisation | (77,492) | (76,805) | (76,738) | (73,868) | (68,196) |
| Network, operation and support expenses | (54,507) | (51,167) | (42,308) | (37,851) | (33,704) |
| Employee benefit expenses | (42,471) | (36,907) | (35,140) | (34,652) | (31,783) |
| Costs of telecommunications products sold | (26,643) | (39,301) | (46,079) | (44,863) | (64,365) |
| Other operating expenses | (57,166) | (54,585) | (52,927) | (59,945) | (61,015) |
| Finance costs | (5,734) | (5,017) | (6,934) | (4,617) | (3,113) |
| Interest income | 1,647 | 1,160 | 438 | 283 | 173 |
| Share of net profit/(loss) of associates | 893 | 204 | (759) | - | - |
| Share of net profit/(loss) of joint ventures | 574 | 153 | (42) | - | - |
| Other income - net | 1,280 | 1,591 | 10,568 | 1,362 | 887 |
| Profit before income tax | 2,593 | 784 | 14,035 | 15,931 | 13,714 |
| Income tax expenses | (743) | (154) | (3,473) | (3,876) | (3,306) |
| Profit for the year | 1,850 | 630 | 10,562 | 12,055 | 10,408 |
| Attributable to: | |||||
| Equity shareholders of the Company | 1,828 | 625 | 10,562 | 12,055 | 10,408 |
| Non-controlling interests | 22 | 5 | - | - | - |
| 2017 | 2016 | 2015 | 2014 | 2013 | |
| Earnings per share for profit attributable to equity shareholders of the Company |
|||||
| – basic (RMB) | 0.07 | 0.03 | 0.44 | 0.51 | 0.44 |
| – diluted (RMB) | 0.07 | 0.03 | 0.44 | 0.49 | 0.43 |
Selected Statement of Financial Position Data
| 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|
| Property, plant and equipment | 416,596 | 451,115 | 454,631 | 438,321 | 431,625 |
| Financial assets at fair value through other comprehensive income |
4,286 | 4,326 | 4,852 | 5,902 | 6,497 |
| Current assets | 76,722 | 82,218 | 56,670 | 56,574 | 52,210 |
| Accounts receivable | 13,964 | 13,622 | 14,957 | 14,671 | 14,842 |
| Cash and cash equivalents | 32,836 | 23,633 | 21,755 | 25,308 | 21,506 |
| Total assets | 571,983 | 614,154 | 610,346 | 545,072 | 529,171 |
| Current liabilities | 242,622 | 342,655 | 336,074 | 291,920 | 295,239 |
| Accounts payable and accrued liabilities | 125,260 | 143,224 | 167,396 | 120,371 | 102,212 |
| Short-term bank loans | 22,500 | 76,994 | 83,852 | 91,503 | 94,470 |
| Commercial papers | 8,991 | 35,958 | 19,945 | 9,979 | 35,000 |
| Current portion of promissory notes | 17,960 | 18,976 | 2,499 | - | - |
| Current portion of corporate bonds | - | 2,000 | - | - | - |
| Current portion of long-term bank loans | 410 | 161 | 84 | 45 | 48 |
| Convertible bonds | - | - | - | 11,167 | 11,002 |
| Long-term bank loans | 3,473 | 4,495 | 1,748 | 420 | 481 |
| Promissory notes | - | 17,906 | 36,928 | 21,460 | - |
| Corporate bonds | 17,981 | 17,970 | 2,000 | 2,000 | 2,000 |
| Total liabilities | 267,636 | 386,472 | 379,130 | 317,531 | 310,272 |
| Total equity | 304,347 | 227,682 | 231,216 | 227,541 | 218,899 |