RMBmil
ion RMBmil
ion RMBmil
ion RMBmil
ion RMBmil
ion RMBmil
ion RMBmil
ion RMBmil
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(Note)
At1January2007
–aspreviouslyreported 4,374 5,325 – 603 (114) 10,188 1,933 12,121
–priorperiodadjustmentarisingfrom
adoptionofIFRIC13(Note3) – – – – (351) (351) (18) (369)
– a s r e s t a t e d 4,374 5,325 – 603 (465) 9,837 1,915 11,752
Profitforthe year –aspreviouslyreported –priorperiodadjustmentarisingfrom adoptionofIFRIC13(Note3) – – – – – – – – 1,871 (32) 1,871 (32) 194 (1) 2,065 (33)
– a s r e s t a t e d – – – – 1,839 1,839 193 2,032
Capitalcontributionby minority shareholders – – – – – – 240 240
Acquisitionof Nan LungFreightand A i r C a t e r i n g ( N o t e 4 7 ( b ) ) – – – – – – 80 80
Disposalofequityinterestinasubsidiary to minority shareholders (Note 47(c)) – – – – – – (8) (8)
equitysecurities,net(Note25) – – 183 – – 183 35 218
Distributions to minority shareholders – – – – – – (8) (8)
Shareofanassociate’sreservesmovement – – – 4 – 4 – 4
At31December2007 4,374 5,325 183 607 1,374 11,863 2,447 14,310
ANNUAL REPORT 2008
Consolidated Cash Flow Statement
For the year ended 31 December 2008
(Prepared in accordance with International Financial Reporting Standards)
(Expressed in Renminbi)
2008 2007
RMB million RMB million
(restated,
note 3)
(Loss)/profit before taxation (4,724) 2,879
Depreciation of property, plant and equipment 5,759 5,597
Other amortisation 58 28
Amortisation of deferred benefits and gains (71) (71)
Impairment loss on property, plant and equipment 1,884 109
Share of associates’ results 12 (57)
Share of jointly controlled entities’ results (170) (123)
Loss/(gain) on sale of property, plant and equipment, net 59 (130)
Gain on sale of other investments in equity securities – (107)
Gain on sale of a jointly controlled entity (143) –
Gain on sale of equity interest in subsidiaries (37) (7)
Interest income (103) (73)
Interest expense 1,987 2,291
Loss/(gain) on derivative financial instruments, net 124 (90)
Dividend income from other investments in equity securities (14) (12)
Unrealised exchange gain, net (2,649) (2,832)
(Increase)/decrease in inventories (16) 108
Decrease/(increase) in trade receivables 649 (349)
Decrease in other receivables 203 156
Increase in prepaid expenses and other current assets (28) (8)
Increase/(decrease) in net amounts due to related companies 15 (50)
Decrease in trade and bills payables (491) (95)
Increase in sales in advance of carriage 353 451
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