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Statement of Cash Flows

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.