15. Right-of-use Assets The Group (acting as lessee) leases land, offices, warehouses and equipment. Except for certain long-term leasehold land in Hong Kong, rental contracts are typically made for fixed periods of 1 to 50 years but may have extension and early termination options. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The recognised right-of-use assets relate to the following types of assets: 30th June 31st December 2024 2023 HK$M HK$M Leasehold land held for own use 2,618 2,502 Property 141 153 2,759 2,655 Additions to right-of-use assets during the six months ended 30th June 2024 were HK$14 million (30th June 2023: HK$56 million; year ended 31st December 2023: HK$62 million). During the six months ended 30th June 2024, total cash outflow for leases was included in the consolidated statement of cash flows as (a) interest paid of HK$10 million (30th June 2023: HK$11 million; year ended 31st December 2023: HK$21 million) under “operating activities”, (b) payment for short-term and low-value assets leases of HK$15 million (30th June 2023: HK$16 million; year ended 31st December 2023: HK$31 million) recorded in cash generated from operations under “operating activities” and (c) principal elements of lease payments of HK$39 million (30th June 2023: HK$38 million; year ended 31st December 2023: HK$82 million) under “financing activities”. 16. Interests in Joint Venture Companies 30th June 31st December 2024 2023 HK$M HK$M Share of net assets, unlisted 19,860 19,276 Loans due from joint venture companies less provisions – Interest-free 11,537 11,650 – Interest-bearing 2,950 3,131 14,487 14,781 In June 2024, the Group entered into an equity and debt transfer agreement with the China Life Insurance Company Limited (“China Life”) group and the Sino-Ocean Group Holding Limited (“Sino-Ocean”) group, pursuant to which the Group and the China Life group have conditionally agreed to acquire a 14.895% and a 49.895% equity interest in the project company of INDIGO Phase Two, respectively, from the Sino-Ocean group for a consideration of approximately RMB891 million and RMB2,984 million, respectively. Completion of the acquisitions is subject to the satisfaction of certain conditions precedent. The acquisitions were completed in early August. Following the completion of the acquisitions, the Group’s interest in INDIGO Phase Two has increased from 35% to 49.895% and the China Life group owns a 49.895% interest in INDIGO Phase Two. 67