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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2019
SEGMENT INFORMATION [abstract]  
Disclosure of segment information

5          SEGMENT 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.

 

 

The segment results for 2017, 2018 and 2019 are as follows:

 

 

The Railway Transportation Business

 

All other segments

 

Elimination

 

Total

 

 

2017

 

2018

 

2019

 

2017

 

2018

 

2019

 

2017

 

2018

 

2019

 

2017

 

2018

 

2019

 

 

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

17,294,901

 

18,823,379

 

20,025,568

 

-

 

-

 

-

 

-

 

-

 

-

 

17,294,901

 

18,823,379

 

20,025,568

 

- Other Businesses

705,423

 

779,719

 

938,066

 

395,661

 

273,274

 

271,452

 

(64,563)

 

(48,354)

 

(56,735)

 

1,036,521

 

1,004,639

 

1,152,783

 

Total revenue

18,000,324

 

19,603,098

 

20,963,634

 

395,661

 

273,274

 

271,452

 

(64,563)

 

(48,354)

 

(56,735)

 

18,331,422

 

19,828,018

 

21,178,351

 

Timing of revenue recognition

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

- Overtime

17,899,006

 

19,480,546

 

20,826,847

 

180,331

 

89,590

 

110,214

 

(64,563)

 

(48,354)

 

(56,735)

 

18,014,774

 

19,521,782

 

20,880,326

 

- At a point in time

101,318

 

122,552

 

136,787

 

215,330

 

183,684

 

161,238

 

-

 

-

 

-

 

316,648

 

306,236

 

298,025

 

 

18,000,324

 

19,603,098

 

20,963,634

 

395,661

 

273,274

 

271,452

 

(64,563)

 

(48,354)

 

(56,735)

 

18,331,422

 

19,828,018

 

21,178,351

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment result

1,341,601

 

1,120,148

 

1,045,581

 

14,519

 

(26,078)

 

(36,489)

 

(8,988)

 

(25,270)

 

-

 

1,347,132

 

1,068,800

 

1,009,092

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Finance costs - net

10,011

 

451

 

56,439

 

159

 

179

 

271

 

-

 

-

 

-

 

10,170

 

630

 

56,710

 

Share of results of associates, net of tax

6,944

 

7,177

 

(7,039)

 

-

 

-

 

-

 

-

 

-

 

-

 

6,944

 

7,177

 

(7,039)

 

Depreciation of fixed assets

1,655,657

 

1,603,106

 

1,633,185

 

6,803

 

6,637

 

4,113

 

-

 

-

 

-

 

1,662,460

 

1,609,743

 

1,637,298

 

Depreciation of right-of-use assets

-

 

-

 

53,992

 

-

 

-

 

11,332

 

-

 

-

 

-

 

-

 

-

 

65,324

 

Amortization of leasehold land payments

34,348

 

44,450

 

-

 

11,332

 

11,332

 

-

 

-

 

-

 

-

 

45,680

 

55,782

 

-

 

Amortization of long-term prepaid expenses

3,256

 

12,596

 

16,008

 

(88)

 

313

 

430

 

-

 

-

 

-

 

3,168

 

12,909

 

16,438

 

Impairment of fixed assets

11,185

 

10,364

 

20,697

 

-

 

-

 

-

 

-

 

-

 

-

 

11,185

 

10,364

 

20,697

 

Provision for impairment of materials and supplies

7,844

 

11,361

 

10,793

 

-

 

-

 

-

 

-

 

-

 

-

 

7,844

 

11,361

 

10,793

 

 

A reconciliation of the segment results to profit of 2017, 2018 and 2019 is as follows:

 

 

The Railway Transportation Business

 

All other segments

 

Elimination

 

Total

 

2017

 

2018

 

2019

 

2017

 

2018

 

2019

 

2017

 

2018

 

2019

 

2017

 

2018

 

2019

 

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

1,341,601

 

1,120,148

 

1,045,581

 

14,519

 

(26,078)

 

(36,489)

 

(8,988)

 

(25,270)

 

-

 

1,347,132

 

1,068,800

 

1,009,092

Income tax expense

(328,727)

 

(291,202)

 

(262,942)

 

(6,637)

 

1,436

 

1,814

 

-

 

-

 

-

 

(335,364)

 

(289,766)

 

(261,128)

Profit/(loss) for the year

1,012,874

 

828,946

 

782,639

 

7,882

 

(24,642)

 

(34,675)

 

(8,988)

 

(25,270)

 

-

 

1,011,768

 

779,034

 

747,964

 

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

 

2018

 

2019

 

2018

 

2019

 

2018

 

2019

 

2018

 

2019

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

RMB’000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total segment assets

35,089,100

 

36,691,272

 

496,353

 

485,891

 

(183,216)

 

(284,030)

 

35,402,237

 

36,893,133

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total segment assets include:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment in associates

181,725

 

174,686

 

-

 

-

 

-

 

-

 

181,725

 

174,686

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

2,885,650

 

1,757,394

 

7,635

 

3,097

 

-

 

-

 

2,893,285

 

1,760,491

Total segment liabilities

6,163,507

 

7,348,182

 

571,273

 

595,487

 

(148,872)

 

(189,817)

 

6,585,908

 

7,753,852

 

Revenues of approximately RMB4,400,273,000 (2017: RMB3,595,959,000 and 2018: RMB3,966,988,000) 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.