Annual Report 2012

Financial Statements (PRC)
CONSOLIDATED CASH FLOW STATEMENT
for the year ended 31 December 2012
76
Annual Report 2012 CHINA PETROLEUM & CHEMICAL CORPORATION
Note 2012 2011
RMB millions RMB millions
Cash flows from operating activities:
Cash received from sale of goods and rendering of services 3,220,178 2,889,482
Rentals received 509 437
Other cash received relating to operating activities 17,864 12,316
Sub-total of cash inflows 3,238,551 2,902,235
Cash paid for goods and services (2,725,034) (2,398,623)
Cash paid for operating leases (12,361) (12,611)
Cash paid to and for employees (51,724) (45,617)
Value added tax paid (65,528) (71,311)
Income tax paid (22,678) (29,798)
Taxes paid other than value added tax and income tax (204,274) (176,474)
Other cash paid relating to operating activities (13,490) (16,620)
Sub-total of cash outflows (3,095,089) (2,751,054)
Net cash flow from operating activities 47(a) 143,462 151,181
Cash flows from investing activities:
Cash received from disposal of investments 1,384 3,039
Dividends received 2,429 2,961
Net cash received from disposal of fixed assets and intangible assets 325 1,216
Cash received on maturity of time deposits with financial institutions 2,381 6,383
Cash received from derivative financial instruments 2,489 3,679
Other cash received relating to investing activities 1,254 1,584
Sub-total of cash inflows 10,262 18,862
Cash paid for acquisition of fixed assets and intangible assets (158,148) (142,813)
Cash paid for acquisition of investments (10,246) (7,488)
Cash paid for acquisition of time deposits with financial institutions (2,239) (5,801)
Cash paid for derivative financial instruments (2,908) (3,768)
Sub-total of cash outflows (173,541) (159,870)
Net cash flow from investing activities (163,279) (141,008)
Cash flows from financing activities:
Cash received from borrowings 850,317 536,397
Cash received from issuance of 2011 Convertible Bonds, net of issuing expenses — 22,889
Cash received from issuance of corporate bonds 80,000 5,000
Cash received from contribution from minority shareholders of subsidiaries 1,474 117
Sub-total of cash inflows 931,791 564,403
Cash repayments of borrowings (820,067) (532,667)
Cash repayments of corporate bonds and partial redemption of 2007 Convertible Bonds (68,500) (6,036)
Cash paid for dividends, profits distribution or interest (34,637) (26,368)
Dividends paid to minority shareholders of subsidiaries (2,807) (1,812)
Cash paid for acquisition of minority interests from subsidiaries, net (152) (36)
Sub-total of cash outflows (926,163) (566,919)
Net cash flow from financing activities 5,628 (2,516)
Effects of changes in foreign exchange rate (2) (18)
Net (decrease)/increase in cash and cash equivalents 47(b) (14,191) 7,639
These financial statements have been approved by the board of directors on 22 March 2013.
Fu Chengyu Wang Tianpu Wang Xinhua
Chairman Vice Chairman, President Chief Financial Officer
(Authorised representative)
The notes on pages 80 to 133 form part of these financial statements.