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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2018
SEGMENT INFORMATION [abstract]  
Disclosure of operating segments

5          SGEMENT INFORMATION

 

The chief operating decision-makers have been identified as the senior executives of the Company. Senior executives of the Company review the Group’s internal reporting in order to assess performance and allocate resources. The operating segments were determined based on these management reports.

 

Senior executives evaluate the business from a perspective of revenues and operating results generated from railroad and related business conducted by the Company ("the Railway Transportation Business"). Other segments mainly include on-board catering services, leasing, sales of materials, sale of goods and other businesses related to railway transportation provided by the subsidiaries of the Company. Senior executives of the Company assess the performance of the operating segments based on a measure of the profit before income tax. Other information provided, except as noted below, to senior executives of the Company is measured in a manner consistent with that in the consolidated financial statements.

 

 

 

5              SEGMENT INFORMATION (CONTINUED)

 

The segment results for 2016, 2017 and 2018 are as follows:

 

 

The Railway Transportation Business

 

All other segments

 

Elimination

 

Total

 

 

2016

 

2017

 

2018

 

2016

 

2017

 

2018

 

2016

 

2017

 

2018

 

2016

 

2017

 

2018

 

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

- Railroad and Business

16,170,309

 

17,294,901

 

18,823,379

 

-

 

-

 

-

 

-

 

-

 

-

 

16,170,309

 

17,294,901

 

18,823,379

 

- Other Businesses

663,418

 

705,423

 

779,719

 

487,097

 

395,661

 

273,274

 

(40,320)

 

(64,563)

 

(48,354)

 

1,110,195

 

1,036,521

 

1,004,639

 

Total revenue

16,833,727

 

18,000,324

 

19,603,098

 

487,097

 

395,661

 

273,274

 

(40,320)

 

(64,563)

 

(48,354)

 

17,280,504

 

18,331,422

 

19,828,018

 

Timing of revenue recognition

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

- Overtime

16,715,139

 

17,899,006

 

19,480,546

 

182,871

 

180,331

 

89,590

 

(40,320)

 

(64,563)

 

(48,354)

 

16,857,690

 

18,014,774

 

19,521,782

 

- At a point in time

118,588

 

101,318

 

122,552

 

304,226

 

215,330

 

183,684

 

-

 

-

 

-

 

422,814

 

316,648

 

306,236

 

 

16,833,727

 

18,000,324

 

19,603,098

 

487,097

 

395,661

 

273,274

 

(40,320)

 

(64,563)

 

(48,354)

 

17,280,504

 

18,331,422

 

19,828,018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment result

1,549,120

 

1,341,601

 

1,120,148

 

3,548

 

14,519

 

(26,078)

 

(8,659)

 

(8,988)

 

(25,270)

 

1,544,009

 

1,347,132

 

1,068,800

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Finance costs/(income) - net

(2,728)

 

10,011

 

451

 

177

 

159

 

179

 

-

 

-

 

-

 

(2,551)

 

10,170

 

630

 

Share of results of associates, net of tax

7,223

 

6,944

 

7,177

 

-

 

-

 

-

 

-

 

-

 

-

 

7,223

 

6,944

 

7,177

 

Depreciation of fixed assets

1,511,570

 

1,655,657

 

1,603,106

 

7,400

 

6,803

 

6,637

 

-

 

-

 

-

 

1,518,970

 

1,662,460

 

1,609,743

 

Amortisation of leasehold land payments

27,338

 

34,348

 

44,450

 

11,332

 

11,332

 

11,332

 

-

 

-

 

-

 

38,670

 

45,680

 

55,782

 

Amortisation of long-term prepaid expenses

6,729

 

3,256

 

12,596

 

239

 

(88)

 

313

 

-

 

-

 

-

 

6,968

 

3,168

 

12,909

 

Impairment of fixed assets

-

 

11,185

 

10,364

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

11,185

 

10,364

 

Impairment of construction-in progress

5,662

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

-

 

5,662

 

-

 

-

 

Provision for/(reversal of) impairment of materials and supplies

(5,209)

 

7,844

 

11,361

 

-

 

-

 

-

 

-

 

-

 

-

 

(5,209)

 

7,844

 

11,361

 

 

5          SEGMENT INFORMATION (CONTINUED)

 

A reconciliation of the segment results to profit of 2016, 2017 and 2018 is as follows:

 

 

The Railway Transportation Business

 

All other segments

 

Elimination

 

Total

 

2016

 

2017

 

2018

 

2016

 

2017

 

2018

 

2016

 

2017

 

2018

 

2016

 

2017

 

2018

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment result

1,549,120

 

1,341,601

 

1,120,148

 

3,548

 

14,519

 

(26,078)

 

(8,659)

 

(8,988)

 

(25,270)

 

1,544,009

 

1,347,132

 

1,068,800

Income tax expense

(385,840)

 

(328,727)

 

(291,202)

 

(4,469)

 

(6,637)

 

1,436

 

-

 

-

 

-

 

(390,309)

 

(335,364)

 

(289,766)

Profit/(loss) for the year

1,163,280

 

1,012,874

 

828,946

 

(921)

 

7,882

 

(24,642)

 

(8,659)

 

(8,988)

 

(25,270)

 

1,153,700

 

1,011,768

 

779,034

 

The Group is domiciled in the PRC. All the Group's revenues were generated in the PRC, and the total assets are also located in the PRC.

 

 

The Railway Transportation Business

 

All other segments

 

Elimination

 

Total

 

2017

 

2018

 

2017

 

2018

 

2017

 

2018

 

2017

 

2018

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total segment assets

33,621,101

 

35,089,100

 

535,840

 

496,353

 

(162,703)

 

(183,216)

 

33,994,238

 

35,402,237

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total segment assets include:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment in associates

174,548

 

181,725

 

-

 

-

 

-

 

-

 

174,548

 

181,725

Additions to non-current assets (other than financial instruments and deferred tax assets)

2,415,143

 

 

2,885,650

 

1,083

 

7,635

 

-

 

-

 

2,416,226

 

2,893,285

Total segment liabilities

4,908,103

 

6,163,507

 

545,500

 

571,273

 

(116,446)

 

(148,872)

 

5,337,157

 

6,585,908

 

Revenues of approximately RMB3,966,988,000 (2016: RMB3,407,998,000 and 2017: RMB3,595,959,000 ) were derived from Guangzhou Railway Group and its subsidiaries. These revenues are attributable to the Railway Transportation Business. Except that, no revenues derived from a single external customer have exceeded 10% of the total revenues.