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For the year ended 31 December 2023
(Expressed in millions of Renminbi, unless otherwise stated)
NoteShare capital
Note
47(a)
Capital reserve
Note
47(b)(i)
Hedging reserve
Note
47(b)(ii)
Investment related reserves
Note
47(b)(iii)
General reserve
Note
47(b)(iv)
Exchange reserve
Note
47(b)(v)
Retained earningsTotalNon-controlling interests Total equity
Balance at 1 January 2024 307,576 (42,395) 2,539 (8,232) 59,556 7,842 376,292 703,178 633,604 1,336,782
Profit for the year 58,202 58,202 49,553 107,755
Other comprehensive (loss)/income for the year 17 (98) 5,190 1,334 6,426 3,922 10,348
Total comprehensive income for the year (98) 5,1901,334 58,202 64,628 53,475 118,103
Transactions with non-controlling interests541,274 1,274 (289) 985
Appropriation to general reserve 5,271(5,271)
Dividends paid to ordinary shareholders of the Company 15 (15,272) (15,272) (15,272)
Dividends paid to non-controlling interests (27,522) (27,522)
Conversion of subsidiary’s convertible corporate bonds 3,694 3,694 2,518 6,212
Other equity instruments issued by subsidiaries 53(c) 44,000 44,000
Other equity instruments redeemed by subsidiaries 53(c)- (39,993) (39,993)
Disposal of equity investments at fair value through other comprehensive income 181 (181)
Share of other comprehensive income of associates and joint ventures that will not be reclassified subsequently to profit or loss(410) 410
Others (15) (15) (266) (281)
Other changes in equity 4,953(229) 5,271 (20,314) (10,319) (21,552) (31,871)
Balance at 31 December 2024 307,576 (37,442) 2,441 (3,271) 64,827 9,176 414,180 757,487 665,527 1,423,014
NoteShare capital
Note
47(a)
Capital reserve
Note
47(b)(i)
Hedging reserve
Note
47(b)(ii)
Investment related reserves
Note
47(b)(iii)
General reserve
Note
47(b)(iv)
Exchange reserve
Note
47(b)(v)
Retained earningsTotalNon-controlling interests Total equity
Balance at 31 December 2022 (restated)307,576 (43,822) 2,750 (8,524) 55,773 6,838 339,518 660,109 574,568 1,234,677
Effect on accounting policy change 217 347 564564
Balance at 1 January 2023 307,576 (43,822) 2,750 (8,307)55,773 6,838 339,865 660,673 574,568 1,235,241
Profit for the year 57,594 57,594 47,680 105,274
Other comprehensive (loss)/income for the year 17 (211) 11,004794 2,294 3,088
Total comprehensive income for the year (211) 1 1,004 57,594 58,388 49,974 108,362
Transactions with non-controlling interests 1,456 1,456 429 1,885
Appropriation to general reserve3,783 (3,783)
Dividends paid to ordinary shareholders of the Company 15 (17,224) (17,224)(17,224)
Dividends paid to non-controlling interests(19,838) (19,838)
Other equity instruments issued by subsidiaries 53(c) 3,000 3,000
Other equity instruments redeemed by subsidiaries 53(c) (3,506) (3,506)
Acquisition of subsidiaries 28,925 28,925
Business combination under common control (101) (86) (187) (187)
Disposal of equity investments at fair value through other comprehensive income74 (74)
Others 72 72 52 124
Other changes in equity 1,42774 3,783 (21,167) (15,883) 9,062 (6,821)
Balance at 31 December 2023 307,576 (42,395) 2,539 (8,232) 59,556 7,842 376,292703,178 633,604 1,336,782

The notes form part of these consolidated financial statements.