77 SWIRE PROPERTIES ANNUAL REPORT 2024 Consolidated Statement of Financial Position 2024 HK$M 2023 HK$M Reference Property, Plant and Equipment The decrease in property, plant and equipment was primarily due to the transfer of property for investment property use, the depreciation for the year and foreign exchange translation losses (principally in respect of leasehold buildings in the Chinese Mainland), partly offset by additions to plant and equipment for the year. 3,404 3,644 Note 15 Investment Properties The decrease in investment properties of HK$9,846 million was principally due to a fair value loss of HK$5,996 million, transfer of certain investment properties to assets classified as held for sale and properties for sale of HK$4,755 million and HK$1,682 million respectively, and foreign exchange translation losses of HK$2,011 million, partly offset by additions during the year (after netting off cost written back) of HK$4,645 million. The additions reflected capital expenditure at the Taikoo Place redevelopment and Six Pacific Place in Hong Kong, Taikoo Li Xi’an, No.387 Tianhe Road in Guangzhou, and other projects in Hong Kong and the Chinese Mainland. The foreign exchange translation losses were principally in respect of investment properties in the Chinese Mainland. 271,617 281,463 Note 16 Joint Venture Companies and Loans Due from Joint Venture Companies The increase of HK$2,073 million principally reflected (i) increases in equity to joint venture companies, (ii) the acquisition of additional interest in a joint venture company, (iii) movements in loans due from joint venture companies and (iv) the Company’s share of profits of joint venture companies (net off fair value loss), partly offset by (v) the Company’s share of foreign exchange translation losses in respect of joint venture companies in the Chinese Mainland. 36,130 34,057 Note 20 Associated Companies and Loans Due from Associated Companies The increase of HK$84 million principally reflected the Company’s share of profits of associated companies (including fair value gain), partly offset by the Company’s share of foreign exchange translation losses in respect of associated companies in the Chinese Mainland. 10,876 10,792 Note 21 Properties For Sale The increase of HK$3,555 million primarily reflected the transfer of properties at 6 Deep Water Bay Road in Hong Kong from investment property under development, and the development expenditures of The Headland Residences and 269 Queen’s Road East in Hong Kong, partly offset by the sales of 2 units at EIGHT STAR STREET in Hong Kong. 12,676 9,121 Note 23