Cash Flows
Consolidated Statement of Cash Flows
    For the year ended 31 December
Notes 2017
RMB'000
2016
RMB'000
Operating activities
Profit before tax 3,231,811 3,055,901
Adjustments for:
Depreciation and amortisation 828,441 850,387
Impairment losses on accounts and
bills and other receivables, net
166,965 319,616
Impairment losses on property, plant and
equipment and construction in progress
3,914
Impairment losses on inventories 34,261 57,951
Interest income (202,679) (184,088)
Finance costs 47,119 46,667
Share of profits of associates (63,782) (66,095)
Dividend income (77,732) (51,142)
Investment income and fair value (gains)/losses of financial
instruments at fair value through profit or loss
(17,362) 1,650
Gain on disposal of subsidiaries (11,759) (36,712)
(Gain)/loss on disposal of property, plant and equipment and
other intangible assets, net
(14,255) 3,322
Exchange differences 22,448 6,934
Write-back of non-payable liabilities (23,698) (18,282)
Operating profit before changes in working capital 3,919,778 3,990,023
(Increase)/decrease in inventories (88,662) 604,703
Increase in accounts and bills receivable (1,112,331) (1,625,183)
Increase in prepayments and other current assets (2,074,062) (269,808)
Increase in accounts and bills payable 4,201,272 688,286
Increase in receipts in advance for contract work 951,187 1,134,555
Increase in accrued expenses and other payables 1,580,281 1,144,360
Net cash inflow from operations 7,377,463 5,666,936
Interest paid (40,167) (47,202)
Interest received 200,100 180,472
Income tax paid (573,151) (534,958)
Net cash generated from operating activities 6,964,245 5,265,248
Investing activities
Payments for purchase of property, plant and equipment
and other intangible assets
(1,013,640) (846,649)
Proceeds from disposal of property, plant and equipment
and other intangible assets
27,079 18,655
Restricted bank deposits received 286,080 39,269
Dividends received 125,401 115,079
Proceeds from disposal of investments 71,356
Payments for acquisition of wealth management products and
structured deposits
(6,950,000)
Proceeds from disposal of wealth management products and
structured deposits
1,950,000
Payments for acquisition of investments (129,377) (5,405)
Other cash paid related to investing activities (7,692) (1,131)
Other cash received related to investing activities 28,437 4,474
Net cash used in investing activities (5,683,712) (604,352)
Financing activities
Capital contribution from non-controlling interests 20,327
Proceeds from bank and other loans 296,896 34,466
Repayments of bank and other loans (689,496) (182,873)
Dividends paid (938,242) (821,092)
Other cash paid related to financing activities (49)
Other cash received related to financing activities 29,007
Net cash used in financing activities (1,301,884) (949,172)
Net (decrease)/increase in cash and cash equivalents (21,351) 3,711,724
Cash and cash equivalents at beginning of year 13,324,079 9,535,851
Effect of foreign exchange rate changes (36,097) 76,504
Cash and cash equivalents at end of the year 32 13,266,631 13,324,079
The notes on pages 107 to 180 form part of these consolidated financial statements.