Consolidated Statement of Cash Flows For the six months ended 30th June 2023 – unaudited Unaudited Audited Six months ended Year ended 30th June 31st December 2023 2022 2022 HK$M HK$M HK$M Operating activities Cash generated from operations 4,221 3,933 6,332 Interest paid (547) (368) (742) Interest received 36 67 117 Tax paid (370) (547) (1,127) 3,340 3,085 4,580 Dividends received from joint venture and associated companies and financial assets at fair value through other comprehensive income 34 94 176 Net cash from operating activities 3,374 3,179 4,756 Investing activities Purchase of property, plant and equipment (111) (73) (133) Additions of investment properties (1,332) (5,027) (7,096) Purchase of intangible assets (16) (11) (58) Proceeds from disposal of investment properties 60 412 609 Proceeds from disposal of subsidiary companies, net of cash disposed of – 4 1,060 Payment for acquisition of subsidiary companies, net of cash acquired (3,388) – – Purchase of shares in joint venture companies (762) (650) (1,720) Purchase of financial assets at fair value through profit or loss (156) (20) (20) Equity to joint venture companies (221) (144) (1,123) Loans to joint venture companies (956) (129) (108) Repayment of loans by joint venture companies 173 577 917 Repayment of advances from joint venture companies – (25) (200) Loans to associated companies – (29) (52) Repayment of loans by associated companies 6 – – Initial leasing costs incurred (58) (3) (75) Net cash used in investing activities (6,761) (5,118) (7,999) Net cash outflow before financing activities (3,387) (1,939) (3,243) Financing activities Loans drawn and refinanced 8,339 3,254 7,237 Repayment of loans and bonds (1,030) (7,130) (9,009) Principal elements of lease payments (38) (33) (66) 7,271 (3,909) (1,838) Capital contribution from a non-controlling interest – 986 1,003 Dividends paid to the Company’s shareholders (3,978) (3,744) (5,616) Dividends paid to non-controlling interests (46) (35) (96) Net cash from/(used in) financing activities 3,247 (6,702) (6,547) Decrease in cash and cash equivalents (140) (8,641) (9,790) Cash and cash equivalents at 1st January 4,502 14,833 14,833 Effect of exchange differences (115) (279) (541) Cash and cash equivalents at end of the period 4,247 5,913 4,502 Represented by: Bank balances and short-term deposits maturing within three months 4,247 5,913 4,502 The above consolidated statement of cash flows should be read in conjunction with the accompanying notes. 55