FINANCIAL REPORT

Consolidated Statement of Comprehensive Income

for the year ended 31 December 2023 (Amounts in millions except for per share data)

2023

2022

Notes

RMB

RMB

Operating revenues

27

513,551

481,448

Operating expenses

Depreciation and amortisation

(99,702)

(96,932)

Network operations and support

28

(160,411)

(147,589)

Selling, general and administrative

29

(66,804)

(64,277)

Personnel expenses

30

(92,805)

(84,772)

Other operating expenses

31

(56,701)

(54,451)

Total operating expenses

(476,423)

(448,021)

Operating profit

37,128

33,427

Net finance costs

32

(332)

(7)

Investment income and others

292

243

Share of profits of associates and joint ventures

2,116

2,051

Profit before taxation

39,204

35,714

Income tax

33

(8,776)

(8,038)

Profit for the year

30,428

27,676

Other comprehensive income for the year

Items that will not be reclassified subsequently to
profit or loss:

Change in fair value of investments in equity instruments at
fair value through other comprehensive income

511

(222)

Deferred tax on change in fair value of investments in equity
instruments at fair value through other comprehensive
income

(135)

50

376

(172)

Items that may be reclassified subsequently to
profit or loss:

Exchange difference on translation of financial statements of
subsidiaries outside mainland China

63

712

Share of other comprehensive income of associates and
joint ventures

2

65

712

Other comprehensive income for the year, net of tax

441

540

Total comprehensive income for the year

30,869

28,216

Profit attributable to

Equity holders of the Company

30,446

27,593

Non-controlling interests

(18)

83

Profit for the year

30,428

27,676

Total comprehensive income attributable to

Equity holders of the Company

30,887

28,133

Non-controlling interests

(18)

83

Total comprehensive income for the year

30,869

28,216

Basic earnings per share (RMB)

38

0.33

0.30

Diluted earnings per share (RMB)

38

0.33

0.30

Number of shares (in million)

25

91,507

91,507

The notes on pages 170 to 252 form part of these consolidated financial statements.