6. Other Net (Losses)/Gains Six months ended Year ended 30th June 31st December 2023 2022 2022 HK$M HK$M HK$M Gains arising from the acquisition of interests in joint venture companies 551 – – Gains on disposal of investment properties – 27 31 Gains on disposal of assets classified as held for sale – 4 20 Change in fair value of assets classified as held for sale (411) 49 48 Net foreign exchange losses (232) (30) (107) Government subsidies 1 13 31 Others 26 26 56 (65) 89 79 7. Expenses by Nature Expenses included in cost of sales, administrative and selling expenses, and other operating expenses are analysed as follows: Six months ended Year ended 30th June 31st December 2023 2022 2022 HK$M HK$M HK$M Restated Impairment charged on trade receivables* 9 183 341 Depreciation of property, plant and equipment (note 12) 130 116 232 Depreciation of right-of-use assets – leasehold land held for own use 14 13 25 – property 22 18 39 Amortisation of – intangible assets (note 14) 32 25 53 – initial leasing costs in respect of investment properties 69 16 79 Staff costs 1,041 1,059 1,899 Other lease expenses** 16 16 32 * These impairments include expected credit loss on the operating lease receivables in relation to the forgiveness of lease payments, i.e. rent concessions granted to tenants during the period, under HKFRS 9 of HK$13 million (30th June 2022 (Restated): HK$178 million; year ended 31st December 2022: HK$319 million). ** These expenses include expenses relating to short-term leases and leases of low-value assets, net of rent concessions received (nil for the six months ended 30th June 2023, 30th June 2022 and year ended 31st December 2022). They are directly charged to the consolidated statement of profit or loss and are not included in the measurement of lease liabilities under HKFRS 16. 63