for the year ended 31 March 2021
(Expressed in thousands of Hong Kong dollars)
| Note | 2021 | 2020 | |
|---|---|---|---|
| Cash flows from operating activities |
|||
| Loss from operations | (30,107) |
(17,862) | |
| Sundry income | 12,204 |
3,976 | |
| Loss / (Gain) on disposal of property, plant and equipment | 16 |
(17) | |
| Depreciation of property, plant and equipment | 12,220 | 10,992 | |
| Depreciation of right-of-use assets | 4,887 | — | |
| Amortisation of intangible assets |
843 | 1,097 | |
| Interest expenses on lease liabilities | 110 | — | |
| Decrease in trade and other receivables | 1,773 | 112,793 | |
| Decrease / (Increase) in amounts due from related parties | 2,054 | (2,054) | |
| (Decrease) / Increase in trade and other payables | (26,683) | 30,159 | |
| (Decrease) / Increase in amounts due to related parties | (13,612) | 14,838 | |
| (Decrease) / Increase in deferred income | (26,572) | 141,219 | |
| Decrease in provision for employee benefits | (1,854) | (5,579) | |
| Amount paid on settlement of restitution claims | (2,865) | (52,517) |
|
| Net cash (used in) / from operating activities |
(67,586) | 237,045 | |
| Cash flows from investing activities |
|||
| Increase in placement with the Exchange Fund | (19,429) | (14,800) | |
| Decrease / (Increase) in bank deposits with original maturities over three months | 24,800 | (176,000) | |
| Acquisition of property, plant and equipment and intangible assets | (9,001) | (21,016) | |
| (Expenses for) / Net proceeds from disposal of property, plant and equipment | (15) | 35 | |
| Interest received | 31,760 | 27,906 | |
| Net cash from / (used in) investing activities |
28,115 | (183,875) | |
| Cash flows from financing activities |
|||
| Lease payments |
(4,600) | — | |
| Target returns required by the Government |
(25,322) | — | |
| Net cash used in financing activities |
(29,922) | — | |
| Net (decrease) / increase in cash and cash equivalents |
(69,393) | 53,170 | |
| Cash and cash equivalents at beginning of year |
85,502 | 32,332 | |
| Cash and cash equivalents at end of year |
18 | 16,109 | 85,502 |
The notes form part of these financial statements.