6. Other Net Losses Six months ended Year ended 30th June 31st December 2024 2023 2023 HK$M HK$M HK$M Gains arising from the acquisition of interests in joint venture companies – 551 551 Losses on disposal of investment properties – – (16) Losses on disposal of property, plant and equipment (1) – (2) Losses on disposal of assets classified as held for sale (219) – (44) Change in fair value of assets classified as held for sale (2) (411) (442) Reversal of impairment loss on hotel held as part of a mixed-use development 15 – – Net foreign exchange losses – (232) (240) Government subsidies 1 1 8 Others 103 26 71 (103) (65) (114) 7. Expenses by Nature Expenses included in cost of sales, administrative and selling expenses, and other operating expenses are analysed as follows: Six months ended Year ended 30th June 31st December 2024 2023 2023 HK$M HK$M HK$M Impairment charged on trade receivables* 6 9 40 Depreciation of property, plant and equipment (note 12) 150 130 275 Depreciation of right-of-use assets – leasehold land held for own use 15 14 29 – property 24 22 49 Amortisation of – intangible assets (note 14) 34 32 66 – initial leasing costs in respect of investment properties 26 69 96 Staff costs 1,170 1,041 2,115 Other lease expenses** 15 16 31 * The amounts include impairment charges relating to expected credit losses on forgiveness of lease payments of operating lease receivables, i.e. rent concessions granted to tenants during the period, under HKFRS 9 of HK$4 million (30th June 2023: HK$13 million; year ended 31st December 2023: HK$36 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 2024, 30th June 2023 and year ended 31st December 2023). 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. 8. Net Finance Charges Refer to the table with the heading “Financial Information Reviewed by Auditors” on page 51 for details of the Group’s net finance charges. 63