CONSOLIDATED STATEMENTS OF CASH FLOWS
HKD in Thousands, ¥ in Millions |
12 Months Ended |
|
Dec. 31, 2016
HKD
|
Dec. 31, 2015
HKD
|
Dec. 31, 2014
HKD
|
| Operating activities |
|
|
|
| Net income |
HKD 692,042
|
HKD 131,335
|
HKD 167,821
|
| Less: Net income from discontinued operations |
(686,534)
|
(133,252)
|
(136,895)
|
| Net income/(loss) from continuing operations |
5,508
|
(1,917)
|
30,926
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Depreciation and amortization |
8,772
|
8,366
|
7,276
|
| Net gain on disposal of property, plant and equipment |
(545)
|
0
|
(122)
|
| Gain on disposal of a subsidiary |
0
|
0
|
(29,125)
|
| Changes in operating assets and liabilities: |
|
|
|
| Trade receivables |
0
|
0
|
12,546
|
| Deposits, prepayment and other receivables |
(144)
|
(3,451)
|
3,607
|
| Trade payables |
0
|
0
|
(989)
|
| Other payables and accruals |
(19,802)
|
6,430
|
(5,101)
|
| Tax payables |
1,664
|
639
|
5,286
|
| Subsidiaries |
0
|
(636)
|
7,351
|
| Net cash provided by/(used in) continuing operations |
(4,547)
|
9,431
|
31,655
|
| Net cash provided by discontinued operations |
196,478
|
232,256
|
224,566
|
| Net cash provided by operating activities |
191,931
|
241,687
|
256,221
|
| Investing activities |
|
|
|
| Purchase of property, plant and equipment |
0
|
(23,809)
|
(133,239)
|
| Proceeds from disposal of property, plant and equipment |
545
|
0
|
414
|
| Sale proceeds from disposal of a subsidiary (net of cash disposed of HK$314,079 for the year 2016) |
703,363
|
0
|
43,015
|
| Net cash (used in)/provided by continuing operations |
703,908
|
(23,809)
|
(89,810)
|
| Net cash provided by/(used in) discontinued operations |
(28,059)
|
(126,628)
|
89,442
|
| Net cash (used in)/provided by investing activities |
675,849
|
(150,437)
|
(368)
|
| Financing activities |
|
|
|
| Repurchases of shares/warrants |
0
|
0
|
(406)
|
| Dividend income from subsidiaries |
0
|
0
|
344,000
|
| Dividends paid |
(837,614)
|
22,899
|
(30,275)
|
| Net cash provided by/(used in) continuing operations |
(837,614)
|
22,899
|
313,319
|
| Net cash used in discontinued operations |
(5,815)
|
(164,777)
|
(381,782)
|
| Net cash used in financing activities |
(843,429)
|
(141,878)
|
(68,463)
|
| Net increase/(decrease) in cash and cash equivalents |
24,351
|
(50,628)
|
187,390
|
| Effect of exchange rate changes on cash and cash equivalents |
(13,490)
|
(2,538)
|
(7,764)
|
| Cash and cash equivalents, beginning of year |
311,665
|
528,527
|
348,901
|
| Cash and cash equivalents, end of year |
486,222
|
311,665
|
528,527
|
| Less: cash and cash equivalents from discontinued operations |
0
|
(163,696)
|
(224,411)
|
| Cash and cash equivalents, end of year from continuing operations |
486,222
|
311,665
|
304,116
|
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: |
|
|
|
| Interest (income)/paid, net |
731
|
1,207
|
(963)
|
| Income taxes paid/(refund) |
(424)
|
345
|
(2,117)
|
| SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITY: |
|
|
|
| Consideration receivable |
HKD 131,686
|
HKD 0
|
HKD 0
|