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:DisclosureOfInventoriesExplanatory

    20 Inventories

     

        As at 31 December 2016     As at 31 December 2017  
        Gross carrying
    amount
    RMB’000
        Provision for declines
    in the value of

    inventories RMB’000
        Carrying
    amount
    RMB’000
        Gross carrying
    amount
    RMB’000
        Provision for declines
    in the value of

    inventories RMB’000
        Carrying
    amount
    RMB’000
     

    Raw materials

        3,863,647       (309     3,863,338       4,265,699       (841     4,264,858  

    Work in progress

        1,004,580       (44,453     960,127       951,493       (47,180     904,313  

    Finished goods

        1,154,679       (22,583     1,132,096       1,265,964       (19,270     1,246,694  

    Spare parts and consumables

        266,189       (62,277     203,912       259,934       (78,201     181,733  
     

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

     
        6,289,095       (129,622     6,159,473       6,743,090       (145,492     6,597,598  
     

     

     

       

     

     

       

     

     

       

     

     

       

     

     

       

     

     

     

    The cost of inventories recognized in Cost of Sales amounted to RMB 65,607,079 thousands for the year ended 31December 2017 (2016: RMB 52,400,798 thousands, 2015: RMB 55,056,458 thousands) which excluded an inventory provision of RMB 60,461 thousands (2016: RMB 76,268 thousands, 2015: RMB 44,868 thousands).

    As at 31 December 2017, the provision for inventory write-down was RMB 145,492 thousands (31 December 2016: RMB 129,622 thousands). During the year ended 31 December 2017, the Group sold certain finished goods and utilised certain spare parts and consumables which were previously provided for. The related provision of RMB 44,591 thousands was reversed and included in “cost of sales” in the consolidated income statement.