14. INVENTORIES
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|
December 31, |
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||
|
|
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2016 |
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2017 |
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|
|
|
RMB |
|
RMB |
|
|
|
|
|
|
|
|
|
Crude oil and other raw materials |
|
75,680 |
|
85,975 |
|
|
Work in progress |
|
14,141 |
|
14,774 |
|
|
Finished goods |
|
65,772 |
|
84,448 |
|
|
Spare parts and consumables |
|
1,838 |
|
2,651 |
|
|
|
|
|
|
|
|
|
|
|
157,431 |
|
187,848 |
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|
Less: Allowance for diminution in value of inventories |
|
(920 |
) |
(1,155 |
) |
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|
|
|
|
|
|
|
|
|
156,511 |
|
186,693 |
|
|
|
|
|
|
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Allowance for diminution in value of inventories is analyzed as follows:
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2015 |
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2016 |
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2017 |
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RMB |
|
RMB |
|
RMB |
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|
|
|
|
|
|
|
|
|
|
Balance as of January 1 |
|
3,603 |
|
4,402 |
|
920 |
|
|
Allowance for the year |
|
3,687 |
|
430 |
|
436 |
|
|
Reversal of allowance on disposal |
|
(34 |
) |
(10 |
) |
(13 |
) |
|
Written off |
|
(2,931 |
) |
(4,021 |
) |
(190 |
) |
|
Other increase |
|
77 |
|
119 |
|
2 |
|
|
|
|
|
|
|
|
|
|
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Balance as of December 31 |
|
4,402 |
|
920 |
|
1,155 |
|
|
|
|
|
|
|
|
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During the years ended December 31, 2015, 2016 and 2017, costs of inventories recognized as an expense in the consolidated statement of income were RMB 1,572,798, RMB 1,461,285, and RMB 1,854,629, respectively. Such costs include the write-down of inventories of RMB 3,687, RMB 430, and RMB 436, respectively, and the reversal of write-down of inventories of RMB 34, RMB 10 and RMB 13, respectively. The write-down of inventories and the reversal of write-down of inventories were recorded in purchased crude oil, products and operating supplies and expenses in the consolidated statement of income. The write-down of inventories which were realized primarily with the sales of inventories for the year ended December 31, 2015, 2016 and 2017 were RMB 2,931, RMB 4,021and RMB 190. The write-down of inventories for the year ended December 31, 2017 is mainly related to the spare parts and consumables in refining segment and chemical segment.