Annual Report 2012

CASH FLOW STATEMENT
for the year ended 31 December 2012
Note 2012 2011
RMB millions RMB millions
Cash flows from operating activities:
Cash received from sale of goods and rendering of services 1,888,876 1,792,430
Rentals received 352 404
Other cash received relating to operating activities 55,770 13,898
Sub-total of cash inflows 1,944,998 1,806,732
Cash paid for goods and services (1,504,911) (1,404,217)
Cash paid for operating leases (9,299) (10,038)
Cash paid to and for employees (41,801) (39,004)
Value added tax paid (52,699) (56,536)
Income tax paid (11,744) (17,149)
Taxes paid other than value added tax and income tax (166,284) (137,849)
Other cash paid relating to operating activities (14,503) (17,449)
Sub-total of cash outflows (1,801,241) (1,682,242)
Net cash flow from operating activities 47(a) 143,757 124,490
Cash flows from investing activities:
Cash received from disposal of investments 2,249 2,337
Dividends received 14,722 17,638
Net cash received from disposal of fixed assets and intangible assets 274 1,157
Cash received on maturity of time deposits with financial institutions 1,885 3,840
Other cash received relating to investing activities 1,188 1,603
Sub-total of cash inflows 20,318 26,575
Cash paid for acquisition of fixed assets and intangible assets (131,874) (122,261)
Cash paid for acquisition of investments (17,196) (5,687)
Cash paid for acquisition of time deposits with financial institutions (1,785) (3,940)
Sub-total of cash outflows (150,855) (131,888)
Net cash flow from investing activities (130,537) (105,313)
Cash flows from financing activities:
Cash received from borrowings 174,825 58,528
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
Sub-total of cash inflows 254,825 86,417
Cash repayments of borrowings (181,335) (65,837)
Cash repayments of corporate bonds and partial redemption of 2007 Convertible Bonds (68,500) (5,036)
Cash paid for dividends, profits distribution or interest (33,595) (25,750)
Sub-total of cash outflows (283,430) (96,623)
Net cash flow from financing activities (28,605) (10,206)
Net (decrease)/increase in cash and cash equivalents 47(b) (15,385) 8,971
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.
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CHINA PETROLEUM & CHEMICAL CORPORATION Annual Report 2012
Financial Statements (PRC)