Annual Report 2012

CONSOLIDATED BALANCE SHEET
as at 31 December 2012
(Amounts in millions)
Note 2012 2011
RMB RMB
Non-current assets
Property, plant and equipment, net 17 588,969 565,936
Construction in progress 18 168,977 111,311
Goodwill 19 6,257 8,212
Interest in associates 21 28,812 25,692
Interest in jointly controlled entities 22 21,388 19,992
Investments 23 2,001 1,829
Deferred tax assets 28 14,288 12,706
Lease prepayments 36,240 26,101
Long-term prepayments and other assets 24 34,746 29,994
Total non-current assets 901,678 801,773
Current assets
Cash and cash equivalents 10,456 24,647
Time deposits with financial institutions 408 550
Trade accounts receivable, net 25 81,395 58,721
Bills receivable 25 20,045 27,961
Inventories 26 218,262 203,417
Prepaid expenses and other current assets 27 34,449 27,459
Total current assets 365,015 342,755
Current liabilities
Short-term debts 29 73,063 68,224
Loans from Sinopec Group Company and fellow subsidiaries 29 42,919 12,149
Trade accounts payable 30 215,628 177,002
Bills payable 30 6,656 5,933
Accrued expenses and other payables 31 169,062 176,878
Income tax payable 6,045 4,054
Total current liabilities 513,373 444,240
Net current liabilities (148,358) (101,485)
Total assets less current liabilities 753,320 700,288
Non-current liabilities
Long-term debts 29 124,518 116,894
Loans from Sinopec Group Company and fellow subsidiaries 29 37,598 37,563
Deferred tax liabilities 28 16,043 15,181
Provisions 32 21,591 18,381
Other liabilities 5,534 4,925
Total non-current liabilities 205,284 192,944
548,036 507,344
Equity
Share capital 33 86,820 86,702
Reserves 424,094 385,626
Total equity attributable to equity shareholders of the Company 510,914 472,328
Non-controlling interests 37,122 35,016
Total equity 548,036 507,344
Approved and authorised for issue by the board of directors on 22 March 2013.
Fu Chengyu Wang Tianpu Wang Xinhua
Chairman Vice Chairman, President Chief Financial Officer
The notes on pages 143 to 190 form part of these financial statements.
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CHINA PETROLEUM & CHEMICAL CORPORATION Annual Report 2012
Financial Statements (International)