Consolidated Statement of Cash Flows 2022 2021 HK$M HK$M Reference Cash Generated from Operations 6,332 7,028 Note 43(a) Cash generated from operations of HK$6,332 million principally comprised cash inflows from property investment of approximately HK$9,220 million and from property trading of approximately HK$803 million, partly offset by operating expenses of approximately HK$1,402 million and expenditure on properties for sale of approximately HK$2,194 million (after netting off contribution from a non-controlling interest). Tax Paid 1,127 1,635 The decrease principally reflected less tax paid in Hong Kong. Purchase of Property, Plant and Equipment 133 180 Note 43(b) The decrease principally reflected less additions of plant and equipment in Hong Kong. Additions of Investment Properties 7,096 3,860 The amount in 2022 principally reflected capital expenditure on the Taikoo Place redevelopment, Taikoo Li Xi’an and on other projects in Hong Kong and the Chinese Mainland. Proceeds from Disposal of Subsidiary Companies, Net of Cash 1,060 212 Note 43(c) Disposed of The amount in 2022 reflected the proceeds from disposal of subsidiary company holding certain properties in Hong Kong. Proceeds from Disposal of Property, Plant and Equipment and 609 3,758 Investment Properties The amount in 2022 reflected the proceeds from sales of Taikoo Shing car parking spaces in Hong Kong. Purchase of Shares in Joint Venture Companies, Equity and 2,034 4,160 Loans (Net of Repayment) to Joint Venture Companies The amount in 2022 principally reflected purchase of shares and equity injected in joint venture companies of HK$1,720 million and HK$1,123 million respectively and net movements of loans with joint venture companies. Repayment of Loans, Bonds and Lease Liabilities (Net of Loans 1,838 2,856 Drawn and Refinancing) The amount in 2022 principally reflected the repayment of medium term notes, partly offset by the drawdown of bank loans in Hong Kong. 79 SWIRE PROPERTIES ANNUAL REPORT 2022