Cash Flows
Consolidated Statement of Cash Flows
    For the year ended 31 December
Notes 2018
RMB'000
2017
RMB'000
Operating activities
Profit before tax 3,425,304 3,231,811
Adjustments for:
Depreciation and amortisation 838,137 828,441
Impairment losses on accounts receivable, other receivables and
contract assets, net
289,992 166,965
Impairment losses on inventories, net 27,944 34,261
Interest income (181,612) (202,679)
Finance costs 25,179 47,119
Share of profits of associates and joint ventures (105,421) (63,782)
Dividend income (1,575) (77,732)
Investment income and fair value gains of financial instruments
at fair value through profit or loss
(252,058) (17,362)
Gain on disposal of subsidiaries (20,206) (11,759)
Gain on disposal of property, plant and equipment, construction
in progress, other intangible assets and lease prepayments, net
(48,588) (14,255)
Exchange differences 23,899 22,448
Write-back of non-payable liabilities (37,184) (23,698)
Operating profit before changes in working capital 3,983,811 3,919,778
Decrease/(increase) in inventories 5,078 (88,662)
Increase in accounts and bills receivable (188,956) (1,112,331)
Increase in contract assets (4,208,117)
Increase in prepayments and other current assets (166,367) (2,074,062)
Increase in accounts and bills payable 3,693,666 4,201,272
Increase in contract liabilities 358,185
Increase in receipts in advance for contract work 951,187
Increase in accrued expenses and other payables 1,177,350 1,580,281
Net cash inflow from operations 4,654,650 7,377,463
Interest paid (20,598) (40,167)
Interest received 206,616 200,100
Income tax paid (579,697) (573,151)
Net cash generated from operating activities 4,260,971 6,964,245
Investing activities
Payments for purchase of property, plant and equipment, construction in progress, other intangible assets and lease prepayments (987,379) (1,013,640)
Proceeds from disposal of property, plant and equipment, other intangible assets and lease prepayments 268,144 27,079
Restricted bank deposits received 626,116 286,080
Dividends received 55,928 125,401
Proceeds from disposal of investments 17,270
Payments for acquisition of wealth management products and structured deposits (10,650,000) (6,950,000)
Proceeds from disposal of wealth management products and structured deposits 10,650,000 1,950,000
Payments for acquisition of investments (759,359) (129,377)
Other cash paid related to investing activities (21,237) (7,692)
Other cash received related to investing activities 249,631 28,437
Net cash used in investing activities (550,886) (5,683,712)
Financing activities
Proceeds from bank and other loans 793,786 296,896
Repayments of bank and other loans (660,823) (689,496)
Dividends paid (1,013,058) (938,242)
Other cash paid related to financing activities (5,768) (49)
Other cash received related to financing activities 153 29,007
Net cash used in financing activities (885,710) (1,301,884)
Net increase/(decrease) in cash and cash equivalents 2,824,375 (21,351)
Cash and cash equivalents at beginning of year 13,266,631 13,324,079
Effect of foreign exchange rate changes 15,240 (36,097)
Cash and cash equivalents at end of the year 34 16,106,246 13,266,631
The notes on pages 111 to 192 form part of these consolidated financial statements.