AUDITOR’S RESPONSIBILITY
Our responsibility is to express an opinion on these financial statements based on our audit. This report is made solely to you, as a body, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report.
We conducted our audit in accordance with Hong Kong Standards on Auditing issued by the Hong Kong Institute of
Certified Public Accountants. Those standards require that we comply with ethical requirements and plan and perform
the audit to obtain reasonable assurance as to whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and true and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as
ll l ti th ll tti fth fi iltt t
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
ANNUAL REPORT 2008
Independent Auditor’s Report
42 ANNUAL REPORT 2008
In our opinion, the consolidated financial statements give a true and fair view of the state of affairs of the Company and of the Group as at 31 December 2008 and of the Group’s loss and cash flows for the year then ended in accordance with International Financial Reporting Standards and have been properly prepared in accordance with the disclosure requirements of the Hong Kong Companies Ordinance.
KPMG
Certified Public Accountants
8th Floor, Prince’s Building
10 Chater Road Central, Hong Kong The People’s Republic of China
14 April 2009
Consolidated Income Statement
For the year ended 31 December 2008
(Prepared in accordance with International Financial Reporting Standards)
(Expressed in Renminbi)
2008 2007 Note RMB million RMB million
(restated, note 3)
Attributable to Equity shareholders of the Company 16 (4,823) 1,839 Minority interests 37 193
(Loss)/profit for the year (4,786) 2,032
(Loss)/earnings per share 18 Basic RMB(0.74) RMB0.28
Diluted N/A N/A
The notes on pages 53 to 138 form part of these financial statements.
Non-current assets Property, plant and equipment, net 19 53,237 58,441 Construction in progress 20 17,321 11,385 Lease prepayments 531 556 Interest in associates 22 235 219 Interest in jointly controlled entities 23 1,048 873 Other investments in equity securities 24 166 168 Lease deposits 563 659 Available-for-sale equity securities 25 114 362 Deferred tax assets 26 167 84 Other assets 27 412 469
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