4. REVENUE AND SEGMENT INFORMATION
(a) Revenue
Revenue recognized during the years are as follows:
|
|
|
2015 |
|
2016 |
|
2017 |
|
Sales of goods (net of value-added tax) |
|
121,255,842 |
|
141,534,738 |
|
177,872,845 |
|
Other revenue |
|
2,411,825 |
|
2,694,178 |
|
2,207,905 |
|
|
|
123,667,667 |
|
144,228,916 |
|
180,080,750 |
Other revenue primarily includes revenue from the sale of scrap and other materials, the supply of heat and water and the provision of machinery processing, transportation and packaging and other services.
(b) Segment information
The presidents of the Company have been identified as the chief operating decision-makers. They are responsible for the review of internal reports in order to allocate resources to operating segments and assess their performance of these operating segments.
The presidents monitor the business from a product perspective comprising alumina, primary aluminum and energy products which are identified as separate reportable operating segments. In addition, the Group’s trading business is identified as a separate reportable operating segment. The Group’s operating segments also include corporate and other operating activities.
The presidents assess the performance of operating segments based on profit or loss before income tax in related periods. Unless otherwise stated below, the manner of assessment used by the presidents is consistent with that applied in these financial statements. Management has determined the operating segments based on the reports reviewed by the presidents that are used to make strategic decisions.
The Group’s five reportable operating segments are summarized as follows:
|
· |
The alumina segment, which consists of the mining and purchase of bauxite and other raw materials, the refining of bauxite into alumina, and the sale of alumina both internally to the Group’s aluminum enterprises and trading enterprises and externally to customers outside the Group. This segment also includes the production and sale of chemical alumina and metal gallium. |
|
· |
The primary aluminum segment, which consists of the procurement of alumina and other raw materials, supplemental materials and electricity power, and the smelting of alumina to produce primary aluminum which is sold to internal trading enterprises and external customers, including Chinalco and its subsidiaries. This segment also includes the production and sale of carbon products and aluminum alloy and other aluminum products. |
|
· |
The energy segment, which consists of the research and development, production and operation of energy products, mainly includes coal mining, electricity generation by thermal power, wind power and solar power, and new energy related equipment manufacturing business. Sales of coals are mainly made to the Group’s internal and external coals consuming customers; electricity is sold to regional power grid corporations. |
|
· |
The trading segment, which consists of the trading of alumina, primary aluminum, aluminum fabrication products, other non-ferrous metal products, coal products, raw materials and supplemental materials and logistics and transport services to internal manufacturing plants and external customers in the PRC. The products are sourced from fellow subsidiaries of the Group, international and domestic suppliers of the Group. Sales of products manufactured by the Group’s manufacturing business are included in the total revenue of the trading segment and are eliminated with the segment revenue of the respective segments which supply the products to the trading segment. |
|
· |
Corporate and other operating segments, which mainly include corporate management, research and development activities and others. |
Prepaid current income tax and deferred tax assets are excluded from segment assets, and income tax payable and deferred tax liabilities are excluded from segment liabilities. All sales among the operating segments were conducted on terms mutually agreed among group companies, and have been eliminated on consolidation.
|
|
|
Year ended December 31, 2015 |
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
Corporate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
and other |
|
Inter- |
|
|
|
|
|
|
|
Primary |
|
|
|
|
|
operating |
|
segment |
|
|
|
|
|
Alumina |
|
aluminum |
|
Energy |
|
Trading |
|
segments |
|
eliminations |
|
Total |
|
Total revenue |
|
33,497,260 |
|
36,973,230 |
|
4,290,915 |
|
94,131,114 |
|
302,377 |
|
(45,527,229) |
|
123,667,667 |
|
Inter-segment revenue |
|
(26,643,874) |
|
(8,861,390) |
|
(98,124) |
|
(9,908,906) |
|
(14,935) |
|
45,527,229 |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales of self-produced products (Note (i)) |
|
|
|
|
|
|
|
23,294,776 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales of products sourced from external suppliers |
|
|
|
|
|
|
|
60,927,432 |
|
|
|
|
|
|
|
Revenue from external customers |
|
6,853,386 |
|
28,111,840 |
|
4,192,791 |
|
84,222,208 |
|
287,442 |
|
— |
|
123,667,667 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment profit/(loss) before income tax |
|
1,895,706 |
|
(1,386,922) |
|
(74,153) |
|
(1,234,554) |
|
733,760 |
|
188,104 |
|
121,941 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax benefit |
|
|
|
|
|
|
|
|
|
|
|
|
|
225,961 |
|
Profit for the year |
|
|
|
|
|
|
|
|
|
|
|
|
|
347,902 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other items |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance income |
|
204,580 |
|
20,820 |
|
39,231 |
|
265,372 |
|
282,456 |
|
— |
|
812,459 |
|
Finance costs |
|
(1,081,381) |
|
(1,347,593) |
|
(1,016,869) |
|
(562,645) |
|
(1,971,001) |
|
— |
|
(5,979,489) |
|
Share of profits and losses of joint ventures |
|
— |
|
— |
|
6,979 |
|
— |
|
16,259 |
|
— |
|
23,238 |
|
Share of profits and losses of associates |
|
— |
|
(2,027) |
|
270,963 |
|
— |
|
15,595 |
|
— |
|
284,531 |
|
Amortization of land use rights |
|
(44,591) |
|
(28,989) |
|
(12,557) |
|
(15) |
|
(18,307) |
|
— |
|
(104,459) |
|
Depreciation and amortization (excluding the amortization of land use rights) |
|
(3,066,608) |
|
(2,871,447) |
|
(1,203,659) |
|
(27,526) |
|
(114,840) |
|
— |
|
(7,284,080) |
|
Gain/(loss) on disposal of property, plant and equipment and land use rights |
|
218,384 |
|
1,747,796 |
|
(611) |
|
56,120 |
|
296,168 |
|
— |
|
2,317,857 |
|
Other income |
|
316,536 |
|
1,369,644 |
|
79,611 |
|
12,816 |
|
9,167 |
|
— |
|
1,787,774 |
|
Gain on disposal of Shanxi Huaxing |
|
1,035,254 |
|
— |
|
— |
|
— |
|
1,552,880 |
|
— |
|
2,588,134 |
|
Partial disposal of Jiaozuo Wanfang |
|
— |
|
— |
|
— |
|
— |
|
832,369 |
|
— |
|
832,369 |
|
Impairment of property, plant and equipment |
|
— |
|
— |
|
(10,011) |
|
— |
|
— |
|
— |
|
(10,011) |
|
Change for impairment of inventories (Note (ii)) |
|
(219,997) |
|
55,288 |
|
7,417 |
|
(459,575) |
|
— |
|
— |
|
(616,867) |
|
Reversal of provision for impairment of receivables, net |
|
5,389 |
|
40,603 |
|
64,417 |
|
121,741 |
|
— |
|
— |
|
232,150 |
|
Investments in associates |
|
21,000 |
|
312,286 |
|
2,323,968 |
|
118,352 |
|
2,827,095 |
|
— |
|
5,602,701 |
|
Investments in joint ventures |
|
1,886,083 |
|
— |
|
1,412,223 |
|
— |
|
1,852,581 |
|
— |
|
5,150,887 |
|
Capital expenditure in: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5,167 |
|
872 |
|
27,991 |
|
580 |
|
— |
|
— |
|
34,610 |
|
Land use rights |
|
— |
|
133,686 |
|
5,938 |
|
— |
|
— |
|
— |
|
139,624 |
|
Property, plant and equipment(Note (iii)) |
|
5,523,144 |
|
1,862,662 |
|
2,377,708 |
|
16,930 |
|
412,632 |
|
— |
|
10,193,076 |
|
(i) |
The sales of self-produced products include sales of self-produced alumina amounting to RMB12,699 million, sales of self-produced primary aluminum amounting RMB8,099 million, and sales of self-produced other products amounting to RMB2,497 million. |
|
(ii) |
Change for impairment of inventories do not include change for impairment due to disposal of subsidiaries and transferred to non-current assets held for sale. |
|
(iii) |
The additions in property, plant and equipment under sale and leaseback contracts are not included in capital expenditure in property, plant and equipment. |
|
|
|
Year ended December 31, 2016 |
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
Corporate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
and other |
|
Inter- |
|
|
|
|
|
|
|
Primary |
|
|
|
|
|
operating |
|
segment |
|
|
|
|
|
Alumina |
|
aluminum |
|
Energy |
|
Trading |
|
segments |
|
eliminations |
|
Total |
|
Total revenue |
|
30,027,317 |
|
34,464,194 |
|
4,519,806 |
|
114,345,851 |
|
504,355 |
|
(39,632,607) |
|
144,228,916 |
|
Inter-segment revenue |
|
(20,508,466) |
|
(4,981,936) |
|
(137,460) |
|
(13,906,423) |
|
(98,322) |
|
39,632,607 |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales of self-produced products (Note (i)) |
|
|
|
|
|
|
|
18,292,949 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales of products sourced from external suppliers |
|
|
|
|
|
|
|
82,146,479 |
|
|
|
|
|
|
|
Revenue from external customers |
|
9,518,851 |
|
29,482,258 |
|
4,382,346 |
|
100,439,428 |
|
406,033 |
|
— |
|
144,228,916 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment profit/(loss) before income tax |
|
910,426 |
|
2,183,826 |
|
33,408 |
|
809,063 |
|
(1,993,161) |
|
(318,017) |
|
1,625,545 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
(404,172) |
|
Profit for the year |
|
|
|
|
|
|
|
|
|
|
|
|
|
1,221,373 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other items |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance income |
|
302,230 |
|
36,139 |
|
51,897 |
|
226,941 |
|
198,522 |
|
— |
|
815,729 |
|
Finance costs |
|
(1,016,455) |
|
(1,226,821) |
|
(987,422) |
|
(329,454) |
|
(1,459,756) |
|
— |
|
(5,019,908) |
|
Share of profits and losses of joint ventures |
|
(41,367) |
|
— |
|
(28,312) |
|
— |
|
(25,829) |
|
— |
|
(95,508) |
|
Share of profits and losses of associates |
|
— |
|
958 |
|
87,359 |
|
(810) |
|
27,584 |
|
— |
|
115,091 |
|
Amortization of land use rights |
|
(43,523) |
|
(27,464) |
|
(11,172) |
|
(15) |
|
(17,550) |
|
— |
|
(99,724) |
|
Depreciation and amortization (excluding the amortization of land use rights) |
|
(2,847,343) |
|
(2,598,984) |
|
(1,298,483) |
|
(54,724) |
|
(88,095) |
|
— |
|
(6,887,629) |
|
Gain on disposal of property, plant and equipment and land use rights |
|
191,364 |
|
361,155 |
|
253,566 |
|
2,890 |
|
7,746 |
|
— |
|
816,721 |
|
Unrealized gains on futures, forward and option contracts, net |
|
— |
|
16,778 |
|
— |
|
109,906 |
|
27,901 |
|
— |
|
154,585 |
|
Realized loss on futures, forward and option contracts, net |
|
(1,297) |
|
(271,000) |
|
— |
|
(457,702) |
|
(560,268) |
|
— |
|
(1,290,267) |
|
Other income |
|
440,592 |
|
195,380 |
|
57,600 |
|
40,085 |
|
11,612 |
|
— |
|
745,269 |
|
Impairment of property, plant and equipment |
|
(35,893) |
|
(18,239) |
|
(2,948) |
|
— |
|
— |
|
— |
|
(57,080) |
|
Changes for impairment of inventories |
|
684,271 |
|
505,595 |
|
159 |
|
471,218 |
|
1,145 |
|
— |
|
1,662,388 |
|
Reversal of provision/(provision) for impairment of receivables, net |
|
53,144 |
|
198 |
|
(836) |
|
(5,838) |
|
— |
|
— |
|
46,668 |
|
Gain on disposal of associates |
|
— |
|
— |
|
— |
|
— |
|
128,833 |
|
— |
|
128,833 |
|
Gain on disposal and dividends of available for sale |
|
— |
|
— |
|
1,000 |
|
— |
|
139,929 |
|
— |
|
140,929 |
|
Investments in associates |
|
69,000 |
|
313,244 |
|
2,351,845 |
|
146,926 |
|
3,045,518 |
|
— |
|
5,926,533 |
|
Investments in joint ventures |
|
2,631,546 |
|
— |
|
1,559,966 |
|
— |
|
2,048,688 |
|
— |
|
6,240,200 |
|
Additions during the period: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangible assets |
|
336,603 |
|
3 |
|
6,857 |
|
509 |
|
127 |
|
— |
|
344,099 |
|
Land use rights |
|
— |
|
26 |
|
20,937 |
|
— |
|
— |
|
— |
|
20,963 |
|
Investment properties |
|
50,285 |
|
3,354 |
|
— |
|
38,628 |
|
— |
|
— |
|
92,267 |
|
Property, plant and equipment (Note (ii)) |
|
2,455,064 |
|
4,118,544 |
|
1,582,039 |
|
42,476 |
|
143,736 |
|
— |
|
8,341,859 |
Note:
(i)The sales of self-produced products include sales of self-produced alumina amounting to RMB12,795 million, sales of self-produced primary aluminum amounting RMB3,684 million, and sales of self-produced other products amounting to RMB1,814 million.
(ii)The additions to property, plant and equipment under sale and leaseback contracts (note 20) are not included.
|
|
|
Year ended December 31, 2017 |
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
Corporate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
and other |
|
|
|
|
|
|
|
|
|
Primary |
|
|
|
|
|
operating |
|
Inter-segment |
|
|
|
|
|
Alumina |
|
aluminum |
|
Energy |
|
Trading |
|
segments |
|
eliminations |
|
Total |
|
Total revenue |
|
38,079,105 |
|
47,245,646 |
|
6,250,966 |
|
146,814,520 |
|
645,314 |
|
(58,954,801) |
|
180,080,750 |
|
Inter-segment revenue |
|
(24,413,258) |
|
(10,693,678) |
|
(517,269) |
|
(23,159,115) |
|
(171,481) |
|
58,954,801 |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales of self-produced products (Note (i)) |
|
|
|
|
|
|
|
23,158,952 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales of products sourced from external suppliers |
|
|
|
|
|
|
|
100,496,453 |
|
|
|
|
|
|
|
Revenue from external customers |
|
13,665,847 |
|
36,551,968 |
|
5,733,697 |
|
123,655,405 |
|
473,833 |
|
— |
|
180,080,750 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment profit/(loss) before income tax |
|
3,251,751 |
|
826,632 |
|
(171,310) |
|
730,131 |
|
(1,728,563) |
|
97,575 |
|
3,006,216 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
(642,267) |
|
Profit for the year |
|
|
|
|
|
|
|
|
|
|
|
|
|
2,363,949 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other items |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance income |
|
232,625 |
|
83,996 |
|
44,015 |
|
192,327 |
|
153,336 |
|
— |
|
706,299 |
|
Finance costs |
|
(695,162) |
|
(1,212,249) |
|
(1,000,767) |
|
(467,090) |
|
(1,814,661) |
|
— |
|
(5,189,929) |
|
Share of profits and losses of joint ventures |
|
82,619 |
|
— |
|
(383,263) |
|
1,885 |
|
306,910 |
|
— |
|
8,151 |
|
Share of profits and losses of associates |
|
— |
|
(16,887) |
|
(181,667) |
|
9,463 |
|
23,842 |
|
— |
|
(165,249) |
|
Amortization of land use rights |
|
(47,263) |
|
(25,120) |
|
(6,376) |
|
(15) |
|
(17,300) |
|
— |
|
(96,074) |
|
Depreciation and amortization (excluding the amortization of land use rights) |
|
(2,085,476) |
|
(3,253,801) |
|
(1,514,495) |
|
(85,085) |
|
(86,201) |
|
— |
|
(7,025,058) |
|
Gain on disposal of property, plant and equipment and land use rights |
|
47,595 |
|
40,106 |
|
(12,826) |
|
1,673 |
|
543 |
|
— |
|
77,091 |
|
Realized gain/(loss) on futures, forward and option contracts, net |
|
3,398 |
|
(47,730) |
|
1,585 |
|
(24,953) |
|
43,749 |
|
— |
|
(23,951) |
|
Other income |
|
179,736 |
|
79,038 |
|
37,940 |
|
31,060 |
|
14,397 |
|
— |
|
342,171 |
|
Impairment of property, plant and equipment |
|
— |
|
— |
|
(15,632) |
|
— |
|
— |
|
— |
|
(15,632) |
|
Fair value loss |
|
— |
|
(17,033) |
|
— |
|
(92,719) |
|
(21,321) |
|
— |
|
(131,073) |
|
Changes for impairment of inventories (Note (ii)) |
|
71,973 |
|
64,734 |
|
4,488 |
|
722 |
|
5,287 |
|
— |
|
147,204 |
|
Reversal of/(provision for) impairment of receivables, net of bad debts recovered |
|
26 |
|
269 |
|
(25,119) |
|
(18,396) |
|
— |
|
— |
|
(43,220) |
|
Gain on disposal and dividends of available for sale |
|
— |
|
2,792 |
|
— |
|
— |
|
76,616 |
|
— |
|
79,408 |
|
Investments in associates |
|
90,875 |
|
296,357 |
|
2,170,178 |
|
184,149 |
|
4,193,471 |
|
— |
|
6,935,030 |
|
Investments in joint ventures |
|
2,809,758 |
|
— |
|
878,196 |
|
28,865 |
|
2,290,805 |
|
— |
|
6,007,624 |
|
Additions during the period: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangible assets |
|
— |
|
197 |
|
284,509 |
|
372 |
|
89 |
|
— |
|
285,167 |
|
Land use rights |
|
— |
|
— |
|
27,956 |
|
25,199 |
|
6,060 |
|
— |
|
59,215 |
|
Property, plant and equipment (Note (iii)) |
|
2,558,737 |
|
5,533,168 |
|
1,268,051 |
|
60,805 |
|
256,093 |
|
— |
|
9,676,854 |
Note:
|
(i) |
The sales of self-produced products include sales of self-produced alumina amounting to RMB13,187 million, sales of self-produced primary aluminum amounting RMB6,680, and sales of self-produced other products amounting to RMB3,292 million. |
|
(ii) |
Change for impairment of inventories do not include change for impairment due to disposal of subsidiaries. |
(iii)The additions to property, plant and equipment under sale and leaseback contracts (note 20) are not included.
|
|
|
|
|
|
|
|
|
|
|
Corporate |
|
|
|
|
|
|
|
|
|
|
|
|
|
and other |
|
|
|
|
|
|
|
Primary |
|
|
|
|
|
operating |
|
|
|
|
|
Alumina |
|
aluminum |
|
Energy |
|
Trading |
|
segments |
|
Total |
|
As at December 31, 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment assets |
|
75,022,795 |
|
46,680,908 |
|
38,078,969 |
|
14,927,762 |
|
37,040,630 |
|
211,751,064 |
|
Reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Elimination of inter-segment receivables |
|
|
|
|
|
|
|
|
|
|
|
(22,023,956) |
|
Other eliminations |
|
|
|
|
|
|
|
|
|
|
|
(746,586) |
|
Corporate and other unallocated assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred tax assets |
|
|
|
|
|
|
|
|
|
|
|
1,426,707 |
|
Prepaid income tax |
|
|
|
|
|
|
|
|
|
|
|
104,213 |
|
Total assets |
|
|
|
|
|
|
|
|
|
|
|
190,511,442 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment liabilities |
|
42,562,213 |
|
30,023,322 |
|
24,927,277 |
|
11,298,129 |
|
46,596,662 |
|
155,407,603 |
|
Reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Elimination of inter-segment payables |
|
|
|
|
|
|
|
|
|
|
|
(22,023,956) |
|
Corporate and other unallocated liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred tax liabilities |
|
|
|
|
|
|
|
|
|
|
|
984,304 |
|
Income tax payable |
|
|
|
|
|
|
|
|
|
|
|
356,683 |
|
Total liabilities |
|
|
|
|
|
|
|
|
|
|
|
134,724,634 |
|
|
|
|
|
|
|
|
|
|
|
Corporate |
|
|
|
|
|
|
|
|
|
|
|
|
|
and other |
|
|
|
|
|
|
|
Primary |
|
|
|
|
|
operating |
|
|
|
|
|
Alumina |
|
aluminum |
|
Energy |
|
Trading |
|
segments |
|
Total |
|
As at December 31, 2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment assets |
|
69,657,926 |
|
51,996,432 |
|
40,249,776 |
|
18,576,192 |
|
48,271,025 |
|
228,751,351 |
|
Reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Elimination of inter-segment receivables |
|
|
|
|
|
|
|
|
|
|
|
(30,077,354) |
|
Other eliminations |
|
|
|
|
|
|
|
|
|
|
|
(194,763) |
|
Corporate and other unallocated assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred tax assets |
|
|
|
|
|
|
|
|
|
|
|
1,602,825 |
|
Prepaid income tax |
|
|
|
|
|
|
|
|
|
|
|
64,557 |
|
Total assets |
|
|
|
|
|
|
|
|
|
|
|
200,146,616 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment liabilities |
|
33,106,617 |
|
29,811,892 |
|
27,504,055 |
|
13,063,870 |
|
60,019,710 |
|
163,506,144 |
|
Reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Elimination of inter-segment payables |
|
|
|
|
|
|
|
|
|
|
|
(30,077,354) |
|
Corporate and other unallocated liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred tax liabilities |
|
|
|
|
|
|
|
|
|
|
|
993,742 |
|
Income tax payable |
|
|
|
|
|
|
|
|
|
|
|
210,205 |
|
Total liabilities |
|
|
|
|
|
|
|
|
|
|
|
134,632,737 |
The Group mainly operates in the mainland of China. Geographical information of the operating segments is as follows:
|
|
|
2015 |
|
2016 |
|
2017 |
|
Segment revenue from external customers |
|
|
|
|
|
|
|
— Mainland China |
|
121,421,378 |
|
141,393,123 |
|
171,014,419 |
|
— Outside of Mainland China |
|
2,246,289 |
|
2,835,793 |
|
9,066,331 |
|
|
|
123,667,667 |
|
144,228,916 |
|
180,080,750 |
|
|
|
December 31, |
|
December 31, |
|
|
|
2016 |
|
2017 |
|
Non-current assets (excluding financial assets and deferred tax assets) |
|
|
|
|
|
— Mainland China |
|
120,696,743 |
|
127,621,039 |
|
— Outside of Mainland China |
|
370,561 |
|
384,089 |
|
|
|
121,067,304 |
|
128,005,128 |
For the year ended December 31, 2017, revenues of approximately RMB39,759 million (2015: RMB31,818 million, 2016: RMB30,940 million) were derived from entities directly or indirectly owned or controlled by the PRC government including Chinalco. These revenues are mainly attributable to the alumina, primary aluminum, energy and trading segments. There were no other individual customer from which the Group has derived revenue of more than 10% of the Group’s revenue during the years ended December 31, 2015, 2016 and 2017.