CONSOLIDATED BALANCE SHEET (Unaudited)
RMB in millions
Jun 30, 2024
Dec 31, 2023
ASSETS
Current assets
Currency funds
10,621
7,325
Trading financial assets
1,605
2,306
Derivative financial assets
0
4
Accounts receivable
4,066
4,185
Receivables financing
71
38
Prepayments
132
104
Other receivables
115
87
Inventories
3,408
3,195
Other current assets
393
375
Total current assets
20,411
17,619
Non-current assets
Long-term receivables
31
33
Long-term equity investments
666
695
Other equity investments
434
447
Investment properties
84
86
Fixed assets
18,408
18,744
Construction in progress
2,039
1,053
Right-of-use assets
519
563
Intangible assets
659
662
Goodwill
2,262
2,248
Long-term prepaid expenses
13
17
Deferred tax assets
377
364
Other non-current assets
66
48
Total non-current assets
25,558
24,960
Total assets
45,969
42,579
LIABILITIES AND EQUITY
Jun 30, 2024
Dec 31, 2023
Current liabilities
Short-term borrowings
467
1,696
Derivative financial liabilities
2
0
Notes payable
300
223
Accounts payable
5,773
4,782
Contract liabilities
260
185
Employee benefits payable
732
781
Taxes and surcharges payable
116
167
Other payables
368
354
Current portion of long-term liabilities
1,806
1,491
Other current liabilities
2
3
Total current liabilities
9,826
9,682
Non-current liabilities
Long-term borrowings
7,749
5,777
Lease liabilities
480
530
Long-term payables
3
0
Long-term employee benefits payable
14
14
Deferred income
438
384
Other non-current liabilities
38
41
Total non-current liabilities
8,722
6,746
Total liabilities
18,548
16,428
Equity
Paid-in capital
1,789
1,789
Capital reserves
15,228
15,237
Accumulated other comprehensive income
591
543
Specialized reserves
1
0
Surplus reserves
257
257
Unappropriated profit
8,680
8,239
Total equity attributable to owners of the parent
26,546
26,065
Minority shareholders
875
86
Total equity
27,421
26,151
Total liabilities and equity
45,969
42,579
CONSOLIDATED INCOME STATEMENT (Unaudited)
RMB in millions, except share data
Three months ended
Six months ended
Jun 30, 2024
Jun 30, 2023
Jun 30, 2024
Jun 30, 2023
Revenue
8,645
6,313
15,487
12,173
Less: Cost of sales
7,410
5,359
13,417
10,525
Taxes and surcharges
22
27
35
47
Selling expenses
64
51
118
100
Administrative expenses
209
175
433
347
Research and development expenses
438
360
819
669
Finance expenses
(19)
(7)
(11)
51
Including: Interest expenses
99
68
192
131
Interest income
80
27
141
35
Add: Other income
47
40
86
73
Investment income / (loss)
(4)
(24)
(14)
(21)
Including: Income / (loss) from investments in associates and joint ventures
(12)
(10)
(29)
(21)
Gain / (loss) on changes in fair value of financial assets/liabilities
0
37
(5)
46
Credit impairment (loss is expressed by “-“)
(14)
(6)
(7)
(1)
Asset impairment (loss is expressed by “-“)
(20)
(5)
(38)
0
Gain / (loss) on disposal of assets
2
13
5
16
Operating profit / (loss)
532
403
703
547
Add: Non-operating income
0
2
1
3
Less: Non-operating expenses
2
0
2
4
Profit / (loss) before income taxes
530
405
702
546
Less: Income tax expenses
47
19
85
50
Net profit / (loss)
483
386
617
496
Classified by continuity of operations
Profit / (loss) from continuing operations
483
386
617
496
Classified by ownership
Net profit / (loss) attributable to owners of the parent
484
386
619
496
Net profit / (loss) attributable to minority shareholders
(1)
0
(2)
0
Add: Unappropriated profit at beginning of period
8,374
7,264
8,239
7,154
Less: Cash dividends declared
178
358
178
358
Unappropriated profit at end of period (attributable to owners of the parent）
8,680
7,292
8,680
7,292
Other comprehensive income, net of tax
36
481
48
350
Comprehensive income attributable to owners of the parent
36
481
48
350
Comprehensive income not be reclassified to profit or loss
(8)
6
(13)
17
Remeasurement gains or losses of a defined benefit plan
0
0
0
1
Change in the fair value of other equity investments
(8)
6
(13)
16
Comprehensive income to be reclassified to profit or loss
44
475
61
333
Exchange differences of foreign currency financial statements
44
475
61
333
Total comprehensive income
519
867
665
846
Including:
Total comprehensive income attributable to owners of the parent
520
867
667
846
Total comprehensive income attributable to minority shareholders
(1)
0
(2)
0
Earnings per share
Basic earnings per share
0.27
0.22
0.35
0.28
Diluted earnings per share
0.27
0.22
0.35
0.28
CONSOLIDATED CASH FLOW STATEMENT (Unaudited)
RMB in millions
Three months ended
Six months ended
Jun 30, 2024
Jun 30, 2023
Jun 30, 2024
Jun 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from the sale of goods and the rendering of services
8,784
6,178
16,590
13,162
Receipts of taxes and surcharges refunds
81
122
198
216
Other cash receipts relating to operating activities
181
110
283
163
Total cash inflows from operating activities
9,046
6,410
17,071
13,541
Cash payments for goods and services
6,078
4,069
11,254
8,454
Cash payments to and on behalf of employees
1,056
878
2,248
2,072
Payments of all types of taxes and surcharges
197
254
289
466
Other cash payments relating to operating activities
61
22
253
128
Total cash outflows from operating activities
7,392
5,223
14,044
11,120
Net cash flows from operating activities
1,654
1,187
3,027
2,421
CASH FLOWS FROM INVESTING ACTIVITIES
Cash receipts from returns of investments
4,800
4,350
9,050
8,280
Cash receipts from investment income
2
38
15
52
Net cash receipts from disposal of fixed assets, intangible assets and other long-term assets
2
7
5
32
Total cash inflows from investing activities
4,804
4,395
9,070
8,364
Cash payments to acquire fixed assets, intangible assets and other long-term assets
937
749
1,870
1,588
Cash payments for investments
4,650
3,200
8,350
5,980
Total cash outflows from investing activities
5,587
3,949
10,220
7,568
Net cash flows from investing activities
(783)
446
(1,150)
796
CASH FLOWS FROM FINANCING ACTIVITIES
Cash proceeds from investments by others
6
230
776
230
Including: Cash receipts from capital contributions from minority shareholders of subsidiaries
0
86
765
86
Cash receipts from borrowings
728
1,317
3,007
1,664
Total cash inflows from financing activities
734
1,547
3,783
1,894
Cash repayments for debts
657
755
1,963
1,740
Cash payments for distribution of dividends or profit and interest expenses
272
414
352
467
Other cash payments relating to financing activities
34
16
53
48
Total cash outflows from financing activities
963
1,185
2,368
2,255
Net cash flows from financing activities
(229)
362
1,415
(361)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
2
45
4
37
NET INCREASE IN CASH AND CASH EQUIVALENTS
644
2,040
3,296
2,893
Add: Cash and cash equivalents at beginning of period
9,977
3,306
7,325
2,453
CASH AND CASH EQUIVALENTS AT END OF PERIOD
10,621
5,346
10,621
5,346