Cash Flows
Consolidated Statement of Cash Flows
    For the year ended 31 December
Notes 2022
RMB'000
2021
RMB'000
Operating activities
Profit before tax 3,835,377 3,578,434
Adjustments for:
Depreciation and amortisation 1,597,474 1,528,771
Impairment losses on accounts receivable, other receivables and contract
  assets, net
333,085 67,643
Write-down of inventories, net 26,835 26,188
Interest income (590,891) (372,221)
Finance costs 90,986 78,624
Share of profits of associates and joint ventures (92,747) (91,923)
Dividend income (178,234) (163,731)
Investment income and fair value gains of financial instruments
  at fair value through profit or loss
(63,777) (214,092)
Loss/(Gain) on disposal of an associate and a subsidiary 36 (6,285)
Gain on disposal of property, plant and equipment, intangible assets,
  construction in progress and termination of lease, net
(20,115) (105,702)
Foreign exchange loss, net 158 15,883
Write-back of non-payable liabilities (50,506) (35,708)
Operating profit before changes in working capital 4,887,681 4,305,881
Decrease in inventories 97,865 158,745
Increase in accounts and bills receivable (2,314,832) (82,243)
Increase in contract assets (3,777,614) (1,769,444)
Increase in prepayments and other current assets (1,978,901) (1,530,852)
Increase in accounts and bills payable 8,323,462 2,980,722
(Decrease)/Increase in contract liabilities (581,196) 471,526
Increase in accrued expenses and other payables 428,658 190,874
Net cash inflow from operations 5,085,123 4,725,209
Interest paid (134,522) (90,503)
Interest received 449,796 346,743
Income tax paid (492,114) (475,492)
Net cash generated from operating activities 4,908,283 4,505,957
Investing activities
Payments for purchase of property, plant and equipment,
  construction in progress, intangible assets and
  investment properties
(1,226,002) (1,769,213)
Proceeds from disposal of property, plant and equipment,
  intangible assets and construction in progress
32,434 24,156
Restricted bank deposits received 515,937 309,107
Dividends received 258,029 324,961
Proceeds from disposal of equity instruments/subsidiary 7,539 6,262
Payments for acquisition of equity investments (147,390) (76,575)
Payments for acquisition of wealth management products and
  structured deposits
- (7,588,000)
Proceeds from disposal of wealth management products and structured
  deposits
3,355,829 7,566,024
Payments for acquisition of associates and joint ventures (9,414) (7,660)
Proceeds from disposal of associates and joint ventures 1,030 3,561
Payments for acquisition of deposits at financial institutions
  with original maturity more than one year
(5,077,193) (2,359,000)
Other cash paid relating to investing activities - (138,173)
Other cash received relating to investing activities - 35,001
Net cash used in investing activities (2,289,201) (3,669,549)
Financing activities
Proceeds from bank and other loans 240,183 430,415
Capital injection from non-controlling interests 215 900,000
Repayments of bank and other loans (197,122) (301,915)
Repayments of leases liabilities (529,557) (526,134)
Dividends paid (1,257,596) (1,130,717)
Net cash used in financing activities (1,743,877) (628,351)
Net increase in cash and cash equivalents 875,205 208,057
Cash and cash equivalents at beginning of year 21,171,025 21,008,490
Effect of foreign exchange rate changes 39,114 (45,522)
Cash and cash equivalents at end of year 33 22,085,344 21,171,025
The notes on pages 164 to 239 form part of these consolidated financial statements.
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