CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands, ¥ in Millions |
12 Months Ended |
|
Dec. 31, 2017
HKD ($)
|
Dec. 31, 2016
HKD ($)
|
Dec. 31, 2015
HKD ($)
|
| Operating activities |
|
|
|
| Net income |
$ 139,895
|
$ 692,042
|
$ 131,335
|
| Less: Net income from discontinued operations |
(141,341)
|
(686,534)
|
(133,252)
|
| Net income/(loss) from continuing operations |
(1,446)
|
5,508
|
(1,917)
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation and amortization |
8,791
|
8,772
|
8,366
|
| Net gain on disposal of property, plant and equipment |
0
|
(545)
|
0
|
| Changes in operating assets and liabilities: |
|
|
|
| Deposits, prepayment and other receivables |
(28,017)
|
(144)
|
(3,451)
|
| Other payables and accruals |
(1,425)
|
(19,802)
|
6,430
|
| Tax payables |
408
|
1,664
|
639
|
| Subsidiaries |
0
|
0
|
(636)
|
| Net cash provided by/(used in) continuing operations |
(21,689)
|
(4,547)
|
9,431
|
| Net cash provided by discontinued operations |
0
|
196,478
|
232,256
|
| Net cash provided by/(used in) operating activities |
(21,689)
|
191,931
|
241,687
|
| Investing activities |
|
|
|
| Purchase of property, plant and equipment |
(48,943)
|
0
|
(23,809)
|
| Proceeds from disposal of property, plant and equipment |
0
|
545
|
0
|
| Sale proceeds from disposal of a subsidiary (net of cash disposed of HK$314,079 for the year 2016) |
131,686
|
703,363
|
0
|
| Net cash (used in)/provided by continuing operations |
82,743
|
703,908
|
(23,809)
|
| Net cash provided by/(used in) discontinued operations |
0
|
(28,059)
|
(126,628)
|
| Net cash (used in)/provided by investing activities |
82,743
|
675,849
|
(150,437)
|
| Financing activity |
|
|
|
| Dividends paid |
(151,376)
|
(837,614)
|
22,899
|
| Net cash provided by/(used in) continuing operations |
(151,376)
|
(837,614)
|
22,899
|
| Net cash used in discontinued operations |
0
|
(5,815)
|
(164,777)
|
| Net cash used in financing activities |
(151,376)
|
(843,429)
|
(141,878)
|
| Net increase/(decrease) in cash and cash equivalents |
(90,322)
|
24,351
|
(50,628)
|
| Effect of exchange rate changes on cash and cash equivalents |
(813)
|
(13,490)
|
(2,538)
|
| Cash and cash equivalents, beginning of year |
486,222
|
475,361
|
528,527
|
| Cash and cash equivalents, end of year |
395,087
|
486,222
|
475,361
|
| Less: cash and cash equivalents from discontinued operations |
0
|
0
|
(163,696)
|
| Cash and cash equivalents, end of year from continuing operations |
395,087
|
486,222
|
311,665
|
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: |
|
|
|
| Interest (income)/paid, net |
(2,258)
|
731
|
1,207
|
| Income taxes paid/(refund) |
116
|
(424)
|
345
|
| SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITY: |
|
|
|
| Consideration receivable |
$ 141,341
|
$ 131,686
|
$ 0
|