CONSOLIDATED BALANCE SHEET (Unaudited)
RMB in millions
Mar 31, 2024
Dec 31, 2023
ASSETS
Current assets
Currency funds
9,977
7,325
Trading financial assets
1,752
2,306
Derivative financial assets
0
4
Accounts receivable
3,577
4,185
Receivables financing
49
38
Prepayments
135
104
Other receivables
109
87
Inventories
3,222
3,195
Other current assets
353
375
Total current assets
19,174
17,619
Non-current assets
Long-term receivables
32
33
Long-term equity investments
677
695
Other equity investments
442
447
Investment properties
85
86
Fixed assets
18,563
18,744
Construction in progress
1,220
1,053
Right-of-use assets
543
563
Intangible assets
662
662
Goodwill
2,251
2,248
Long-term prepaid expenses
15
17
Deferred tax assets
362
364
Other non-current assets
84
48
Total non-current assets
24,936
24,960
Total assets
44,110
42,579
LIABILITIES AND EQUITY
Mar 31, 2024
Dec 31, 2023
Current liabilities
Short-term borrowings
463
1,696
Derivative financial liabilities
2
0
Notes payable
307
223
Accounts payable
4,508
4,782
Contract liabilities
129
185
Employee benefits payable
646
781
Taxes and surcharges payable
180
167
Other payables
377
354
Current portion of long-term liabilities
1,538
1,491
Other current liabilities
2
3
Total current liabilities
8,152
9,682
Non-current liabilities
Long-term borrowings
7,940
5,777
Lease liabilities
504
530
Long-term payables
4
0
Long-term employee benefits payable
15
14
Deferred income
390
384
Other non-current liabilities
36
41
Total non-current liabilities
8,889
6,746
Total liabilities
17,041
16,428
Equity
Paid-in capital
1,789
1,789
Capital reserves
15,244
15,237
Accumulated other comprehensive income
555
543
Specialized reserves
1
0
Surplus reserves
257
257
Unappropriated profit
8,374
8,239
Total equity attributable to owners of the parent
26,220
26,065
Minority shareholders
849
86
Total equity
27,069
26,151
Total liabilities and equity
44,110
42,579
CONSOLIDATED INCOME STATEMENT (Unaudited)
RMB in millions, except share data
Three months ended
Mar 31, 2024
Mar 31, 2023
Revenue
6,842
5,860
Less: Cost of sales
6,007
5,166
Taxes and surcharges
13
20
Selling expenses
54
49
Administrative expenses
224
171
Research and development expenses
381
309
Finance expenses
8
57
Including: Interest expenses
93
64
Interest income
61
9
Add: Other income
39
32
Investment income / (loss)
(10)
2
Including: Income / (loss) from investments in associates and joint ventures
(17)
(12)
Gain / (loss) on changes in fair value of financial assets/liabilities
(5)
8
Credit impairment (loss is expressed by “-“)
7
5
Asset impairment (loss is expressed by “-“)
(18)
6
Gain / (loss) on disposal of assets
3
3
Operating profit / (loss)
171
144
Add: Non-operating income
1
0
Less: Non-operating expenses
0
3
Profit / (loss) before income taxes
172
141
Less: Income tax expenses
38
31
Net profit / (loss)
134
110
Classified by continuity of operations
Profit / (loss) from continuing operations
134
110
Classified by ownership
Net profit / (loss) attributable to owners of the parent
135
110
Net profit / (loss) attributable to minority shareholders
(1)
0
Add: Unappropriated profit at beginning of period
8,239
7,154
Unappropriated profit at end of period (attributable to owners of the parent）
8,374
7,264
Other comprehensive income, net of tax
12
(131)
Comprehensive income attributable to owners of the parent
12
(131)
Comprehensive income not be reclassified to profit or loss
(4)
11
Remeasurement gains or losses of a defined benefit plan
0
1
Change in the fair value of other equity investments
(5)
10
Comprehensive income to be reclassified to profit or loss
17
(142)
Exchange differences of foreign currency financial statements
17
(142)
Total comprehensive income
146
(21)
Including:
Total comprehensive income attributable to owners of the parent
147
(21)
Total comprehensive income attributable to minority shareholders
(1)
0
Earnings per share
Basic earnings per share
0.08
0.06
Diluted earnings per share
0.08
0.06
CONSOLIDATED CASH FLOW STATEMENT (Unaudited)
RMB in millions
Three months ended
Mar 31, 2024
Mar 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from the sale of goods and the rendering of services
7,806
6,984
Receipts of taxes and surcharges refunds
117
94
Other cash receipts relating to operating activities
102
53
Total cash inflows from operating activities
8,025
7,131
Cash payments for goods and services
5,176
4,385
Cash payments to and on behalf of employees
1,192
1,194
Payments of all types of taxes and surcharges
92
212
Other cash payments relating to operating activities
192
106
Total cash outflows from operating activities
6,652
5,897
Net cash flows from operating activities
1,373
1,234
CASH FLOWS FROM INVESTING ACTIVITIES
Cash receipts from returns of investments
4,250
3,930
Cash receipts from investment income
13
14
Net cash receipts from disposal of fixed assets, intangible assets and other long-term assets
3
26
Total cash inflows from investing activities
4,266
3,970
Cash payments to acquire fixed assets, intangible assets and other long-term assets
933
839
Cash payments for investments
3,700
2,780
Total cash outflows from investing activities
4,633
3,619
Net cash flows from investing activities
(367)
351
CASH FLOWS FROM FINANCING ACTIVITIES
Cash proceeds from investments by others
770
0
Including: Cash receipts from capital contributions from minority shareholders of subsidiaries
765
0
Cash receipts from borrowings
2,279
347
Total cash inflows from financing activities
3,049
347
Cash repayments for debts
1,306
985
Cash payments for distribution of dividends or profit and interest expenses
80
53
Other cash payments relating to financing activities
19
33
Total cash outflows from financing activities
1,405
1,071
Net cash flows from financing activities
1,644
(724)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
2
(8)
NET INCREASE IN CASH AND CASH EQUIVALENTS
2,652
853
Add: Cash and cash equivalents at beginning of period
7,325
2,453
CASH AND CASH EQUIVALENTS AT END OF PERIOD
9,977
3,306