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.
