Consolidated Statement of Financial Position
at 31 December 2011 (Amounts in millions)

         
   

31 December

2011

31 December

2010

1 January

2010

 

Note

RMB

RMB

RMB

     

(restated)

(restated)

         

ASSETS

       

Non-current assets

       

Property, plant and equipment, net

4

268,877

272,478

283,550

Construction in progress

5

18,448

14,445

11,567

Lease prepayments

 

26,280

27,078

27,790

Goodwill

6

29,918

29,920

29,922

Intangible assets

7

7,715

9,968

12,311

Interests in associates

9

985

1,123

997

Investments

10

648

854

722

Deferred tax assets

11

3,068

5,022

6,839

Other assets

19

3,600

4,396

5,322

         

Total non-current assets

 

359,539

365,284

379,020

Current assets

       

Inventories

12

4,840

3,170

2,628

Income tax recoverable

 

2,425

1,882

1,714

Accounts receivable, net

13

18,471

17,328

17,438

Prepayments and other current assets

14

4,664

5,073

3,910

Time deposits with original maturity over three months

 

1,804

1,968

442

Cash and cash equivalents

15

27,372

25,824

34,804

         

Total current assets

 

59,576

55,245

60,936

         

Total assets

 

419,115

420,529

439,956

         

LIABILITIES AND EQUITY

       

Current liabilities

       

Short-term debt

16

9,187

20,675

51,650

Current portion of long-term debt

16

11,766

10,352

1,487

Accounts payable

17

44,358

40,039

34,321

Accrued expenses and other payables

18

59,372

52,885

52,193

Income tax payable

 

482

327

395

Current portion of finance lease obligations

 

–

–

18

Current portion of deferred revenues

19

2,093

2,645

3,417

         

Total current liabilities

 

127,258

126,923

143,481

         

Net current liabilities

 

(67,682)

(71,678)

(82,545)

         

Total assets less current liabilities

 

291,857

293,606

296,475

         

Non-current liabilities

       

Long-term debt

16

31,150

42,549

52,768

Deferred revenues

19

2,712

3,558

5,045

Deferred tax liabilities

11

1,117

1,375

1,510

         

Total non-current liabilities

 

34,979

47,482

59,323

         

Total liabilities

 

162,237

174,405

202,804

         

Equity

       

Share capital

20

80,932

80,932

80,932

Reserves

21

175,158

164,696

155,372

         

Total equity attributable to equity holders of the Company

 

256,090

245,628

236,304

Non-controlling interests

 

788

496

848

         

Total equity

 

256,878

246,124

237,152

         

Total liabilities and equity

 

419,115

420,529

439,956

         

Approved and authorised for issue by the Board of Directors on 20 March 2012.

Wang Xiaochu
Chairman
and
Chief Executive Officer

Yang Jie
Executive Director,
President
and
Chief Operating Officer

Wu Andi
Executive Director,
Executive Vice President
and
Chief Financial Officer

The notes on pages 96 to 146 form part of these financial statements.