Interest in associates

12 Months Ended

Dec. 31, 2019

Investments accounted for using equity method [abstract]

Interest in associates

24 Interest in associates

	2019		2018
	RMB million		RMB million
Share of net assets		3,322		3,181

All the Group’s associates are unlisted without quoted market price. The particulars of the Group’s principal associates as at December 31, 2019 are as follows:

						Proportion of ownership interest held by
	Place of establishment / operation		Group’s effective interest			The Company			Subsidiaries			Proportion of voting rights held by the Group			Principal activity
Southern Airlines Group Finance Co., Ltd. (“SA Finance”) (Note)		PRC		48.59	%		41.81	%		6.78	%		48.59	%	Provision of airlines financial services
Sichuan Airlines Co., Ltd. (“Sichuan Airlines”)		PRC		39	%		39	%		—			39	%	Airline transportation
Southern Airlines Culture and Media Co., Ltd. (“SACM”)		PRC		40	%		40	%		—			40	%	Advertising services
Shenyang Konggang Logistic Co.,Ltd. (“Shenyang Konggang”)		PRC		42.80	%		42.80	%		—			42.80	%	Ground services
Xinjiang Civil Aviation Property Management Limited		PRC		42.80	%		42.80	%		—			42.80	%	Property management

Note: In March 2019, the Group made capital injection of RMB500 million into SA Finance, and the share of equity interest held by the Group increased from 33.98% to 48.59%;

There is no associate that is individually material to the Group.

The Group has interest in a number of individually immaterial associates that are accounted for using the equity method. The aggregate financial information of these associates is summarized as following:

	2019			2018			2017
	RMB million			RMB million			RMB million
				(Note)			(Note)
Aggregate carrying amount of individually immaterial associates		3,322			3,181			3,031
Aggregate amounts of the Group’s share of:
(Loss)/profit from continuing operations		(178	)		263			431
Other comprehensive income		3			(4	)		2
Total comprehensive income		(175	)		259			433

Note: The Group has initially applied IFRS 16 at January 1, 2019 using the modified retrospective approach. Under this approach, comparative information is not restated. See Note 2(b).