SINOPEC SHANGHAI PETROCHEMICAL CO LTD | CIK:0000908732 | 3

  • Filed: 4/27/2018
  • Entity registrant name: SINOPEC SHANGHAI PETROCHEMICAL CO LTD (CIK: 0000908732)
  • Generator: Unknown
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/908732/000119312518138156/0001193125-18-138156-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/908732/000119312518138156/shi-20171231.xml
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  • ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory

    15 Property, plant and equipment

     

         Buildings
    RMB’000
         Plant and
    machinery

    RMB’000
         Vehicles and
    other equipment
    RMB’000
         Total
    RMB’000
     

    As at 1 January 2016

               

    Cost

         3,813,839        40,630,644        1,903,931        46,348,414  

    Accumulated depreciation

         (2,216,300 )       (27,279,363 )       (1,495,393 )       (30,991,056 ) 

    Impairment loss

         (279,099 )       (640,897 )       (54,043 )       (974,039 ) 
      

     

     

        

     

     

        

     

     

        

     

     

     

    Net book amount

         1,318,440        12,710,384        354,495        14,383,319  
      

     

     

        

     

     

        

     

     

        

     

     

     

    Year ended 31 December 2016

               

    Opening net book amount

         1,318,440        12,710,384        354,495        14,383,319  

    Additions

         195        149,691        16,826        166,712  

    Disposals

         (1,300 )       (33,660 )       (2,173 )       (37,133 ) 

    Reclassification

         (4,192 )       (5,573 )       9,765        —    

    Transferred from construction in progress (Note 17)

         28,652        757,157        42,782        828,591  

    Transferred from investment property (Note 16)

         11,587        —          —          11,587  

    Charge for the year

         (94,189 )       (1,467,424 )       (62,934 )       (1,624,547 ) 

    Impairment loss

         —          (247,058 )       (7,184 )       (254,242 ) 
      

     

     

        

     

     

        

     

     

        

     

     

     

    Closing net book amount

         1,259,193        11,863,517        351,577        13,474,287  
      

     

     

        

     

     

        

     

     

        

     

     

     

    As at 31 December 2016

               

    Cost

         3,841,570        41,025,426        1,924,313        46,791,309  

    Accumulated depreciation

         (2,303,278 )       (28,330,684 )       (1,511,509 )       (32,145,471 ) 

    Impairment loss

         (279,099 )       (831,225 )       (61,227 )       (1,171,551 ) 
      

     

     

        

     

     

        

     

     

        

     

     

     

    Net book amount

         1,259,193        11,863,517        351,577        13,474,287  
      

     

     

        

     

     

        

     

     

        

     

     

     

    Year ended 31 December 2017

               

    Opening net book amount

         1,259,193        11,863,517        351,577        13,474,287  

    Additions

         —          1,231        1,694        2,925  

    Disposals

         (736 )       (14,029 )       (1,659 )       (16,424 ) 

    Reclassification

         (22,337 )       20,519        1,818        —    

    Transferred from construction in progress(Note 17)

         3,631        1,085,101        43,484        1,132,216  

    Transferred to investment property (Note 16)

         (24,489 )       —          —          (24,489 ) 

    Transferred to lease prepayments and other assets (Note 14)

         (9,066 )       —          —          (9,066 ) 

    Charge for the year

         (83,803 )       (1,423,511 )       (67,528 )       (1,574,842 ) 

    Impairment loss

         —          (118,179 )       —          (118,179 ) 
      

     

     

        

     

     

        

     

     

        

     

     

     

    Closing net book amount

         1,122,393        11,414,649        329,386        12,866,428  
      

     

     

        

     

     

        

     

     

        

     

     

     

    As at 31 December 2017

               

    Cost

         3,641,220        41,661,819        1,907,177        47,210,216  

    Accumulated depreciation

         (2,239,728 )       (29,299,129 )       (1,516,564 )       (33,055,421 ) 

    Impairment loss

         (279,099 )       (948,041 )       (61,227 )       (1,288,367 ) 
      

     

     

        

     

     

        

     

     

        

     

     

     

    Net book amount

         1,122,393        11,414,649        329,386        12,866,428  
      

     

     

        

     

     

        

     

     

        

     

     

     

    In the year ended 31 December 2017, the amount of depreciation expense charged to cost of sales and selling and administrative expense were RMB 1,565,465 thousands and RMB 9,377 thousands, respectively (2016: RMB 1,616,117 thousands and RMB 8,430 thousands, respectively; 2015: RMB 1,706,595 thousands and RMB 2,172 thousands, respectively).

    During the year ended 31 December 2017, the Group made impairment provision of RMB 118,179 thousands against these property, plant and equipment which will be redundant and replaced by new facilities (2016: RMB 254,242 thousands).