for the year ended 31 March 2023
(Expressed in thousands of Hong Kong
dollars)
Note | 2023 | 2022 | |
---|---|---|---|
Cash flows from operating activities |
|||
Loss from operations | (38,416) | (26,832) | |
Adjustments for: | |||
Sundry income | 2,163 | 4,604 | |
Loss / (Gain) on disposals of property, plant and equipment | 25 | (20) | |
Depreciation of property, plant and equipment | 14,692 | 13,392 | |
Depreciation of right-of-use assets | 5,378 | 5,378 | |
Amortisation of intangible assets |
1,141 | 898 | |
Interest expenses on lease liabilities | 78 | 100 | |
(Increase) / Decrease in trade and other receivables | (1,311) | 4,731 | |
Increase in amounts due from related parties | (5,983) | (93) | |
Decrease in trade and other payables | (472) | (6,360) | |
Increase in amounts due to related parties | 1,823 | 148 | |
Decrease in deferred income | (64,976) | (25,156) | |
Decrease in provision for employee benefits | (2,441) |
(7,821) | |
Amount paid on settlement of restitution claims | — | (6,312) | |
Net cash used in operating activities |
(88,299) | (43,343) | |
Cash flows from investing activities |
|||
Increase in placement with the Exchange Fund | (31,928) | (25,594) | |
Decrease in bank deposits with original maturities over three months | 90,100 | 58,100 | |
Acquisition of property, plant and equipment and intangible assets | (9,764) | (13,176) | |
Net proceeds from disposals of property, plant and equipment | 7 | 46 | |
Interest received | 35,636 | 29,692 | |
Net cash from investing activities |
84,051 | 49,068 | |
Cash flows from financing activities |
|||
Payments of lease liabilities |
9(b) | (5,520) |
(5,520) |
Net cash used in financing activities |
(5,520) | (5,520) | |
Net (decrease) / increase in cash and cash
equivalents |
(9,768) | 205 | |
Cash and cash equivalents at beginning of
year |
16,314 | 16,109 | |
Cash and cash equivalents at end of year |
18 | 6,546 | 16,314 |
The notes form part of these financial statements.