Trading Fund Report 2021/22
for the year ended 31 March 2022
(Expressed in thousands of Hong Kong dollars)
| Note | 2022 | 2021 | |
|---|---|---|---|
| Cash flows from operating activities | |||
| Loss from operations | (26,832) | (30,107) | |
| Sundry income | 4,604 | 12,204 | |
| (Gain) / Loss on disposal of property, plant and equipment | (20) | 16 | |
| Depreciation of property, plant and equipment | 13,392 | 12,220 | |
| Depreciation of right-of-use assets | 5,378 | 4,887 | |
| Amortisation of intangible assets | 898 | 843 | |
| Interest expenses on lease liabilities | 100 | 110 | |
| Decrease in trade and other receivables | 4,731 | 1,773 | |
| (Increase) / Decrease in amounts due from related parties | (93) | 2,054 | |
| Decrease in trade and other payables | (6,360) | (26,683) | |
| Increase / (Decrease) in amounts due to related parties | 148 | (13,612) | |
| Decrease in deferred income | (25,156) | (26,572) | |
| Decrease in provision for employee benefits | (7,821) | (1,854) | |
| Amount paid on settlement of restitution claims | (6,312) | (2,865) | |
| Net cash used in operating activities | (43,343) | (67,586) | |
| Cash flows from investing activities | |||
| Increase in placement with the Exchange Fund | (25,594) | (19,429) | |
| Decrease in bank deposits with original maturities over three months | 58,100 | 24,800 | |
| Acquisition of property, plant and equipment and intangible assets | (13,176) | (9,001) | |
| Net proceeds from / (Expenses for) disposal of property, plant and equipment | 46 | (15) | |
| Interest received | 29,692 | 31,760 | |
| Net cash from investing activities | 49,068 | 28,115 | |
| Cash flows from financing activities | |||
| Payments of lease liabilities | (5,520) | (4,600) | |
| Target returns required by the Government | — | (25,322) | |
| Net cash used in financing activities | (5,520) | (29,922) | |
| Net increase / (decrease) in cash and cash equivalents | 205 | (69,393) | |
| Cash and cash equivalents at beginning of year | 16,109 | 85,502 | |
| Cash and cash equivalents at end of year | 18 | 16,314 | 16,109 |
The notes form part of these financial statements.