Annual Report 2012
Annual Report 2012
Annual Report 2012
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Principal Financial Data<br />
and Indicators<br />
PRINCIPAL FINANCIAL DATA AND INDICATORS (CONTINUED)<br />
(3) Extraordinary items and corresponding amounts<br />
4<br />
Items For the year ended 31 December<br />
<strong>2012</strong> 2011 2010<br />
(Income)/expenses<br />
RMB millions<br />
Gain on disposal of fixed assets (133) (754) (253)<br />
Donations 231 90 177<br />
Government grants (2,814) (1,400) (1,096)<br />
Gain on holding and disposal of various investments (69) (48) (71)<br />
Net profit of subsidiaries generated from a business combination involving<br />
entities under common control before acquisition date — — (3,043)<br />
Other non-operating expenses, net 553 385 362<br />
Subtotal (2,232) (1,727) (3,924)<br />
Tax effect 558 432 220<br />
Total (1,674) (1,295) (3,704)<br />
Attributable to: Equity shareholders of the Company (1,574) (1,244) (2,368)<br />
Minority interests (100) (51) (1,336)<br />
(4) Significant changes of items in the financial statements<br />
The table below sets forth reasons for those changes where the fluctuation was more than 30% during the reporting period, or such changes<br />
which constituted 5% or more of total assets at the balance sheet date or more than 10% of profit before taxation:<br />
At 31 December Increase/(decrease)<br />
<strong>2012</strong> 2011 Amount Percentage Reasons for change<br />
Items RMB millions RMB millions RMB millions (%)<br />
Cash at bank and on hand 10,864 25,197 (14,333) (56.88) Due to centralized management of funds, reduced position of cash<br />
Accounts receivable 81,395 58,721 22,674 38.61 Due to business scale growth<br />
Construction in progress<br />
168,977 111,311 57,666<br />
51.81 Mainly due to production growth and increased capital expenditure<br />
Intangible assets 49,834 34,842 14,992 43.03 Please refer to Financial Statements under ASBE, Note 14<br />
Short-term loans<br />
70,228 36,985 33,243<br />
89.88 Due to adjustment to debt structure, and the increase in low cost<br />
Taxes payable 21,985 39,622 (17,637) (44.51)<br />
borrowings in USD<br />
Please refer to Financial Statements under ASBE, Note 25<br />
Short-term debentures<br />
30,000<br />
— 30,000<br />
N/A Issuance of RMB 30 billion short-term debentures in <strong>2012</strong><br />
payable<br />
Non-current liabilities due<br />
within one year<br />
Financial expenses<br />
15,754<br />
9,819<br />
43,388<br />
6,544<br />
<strong>Annual</strong> <strong>Report</strong> <strong>2012</strong> CHINA PETROLEUM & CHEMICAL CORPORATION<br />
(27,634)<br />
3,275<br />
(63.69)<br />
50.05<br />
Repayment of bonds due within one year<br />
Decrease in exchange gains and increase in debts bearing<br />
Impairment losses 7,906 5,811 2,095 36.05<br />
interests<br />
Please refer to Financial Statements under ASBE, Note 39<br />
Gain from changes<br />
206<br />
1,423 (1,217) (85.52) Due to fair value change of the embedded derivatives of convertible<br />
in fair value<br />
bonds issued by the Company<br />
Investment income 1,540 4,186 (2,646) (63.21) Please refer to Financial Statements under ASBE, Note 41<br />
Non-operating income 4,573 3,411 1,162 34.07 Please refer to Financial Statements under ASBE, Note 42<br />
Non-operating expense 2,392 1,739 653 37.55 Please refer to Financial Statements under ASBE, Note 43
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