for the year ended 31 March 2025
(Expressed in thousands of Hong Kong
dollars)
| Note | 2025 | 2024 | |
|---|---|---|---|
| Cash flows from operating activities |
|||
| Loss from operations | (82,947) | (65,182) | |
| Adjustments for: | |||
| Sundry income | 3,825 | 574 | |
| Gain on disposals of property, plant and equipment | (45) | (24) | |
| Depreciation of property, plant and equipment | 15,538 | 15,754 | |
| Depreciation of right-of-use assets | 4,714 | 4,714 | |
| Amortisation of intangible assets |
1,412 | 1,696 | |
| Interest expenses on lease liabilities | 240 | 390 | |
| (Increase) / Decrease in trade and other receivables | (2,431) | 1,391 | |
| (Increase) / Decrease in amounts due from related parties | (1) | 6,076 | |
| Increase in trade and other payables | 9,945 | 1,064 | |
| Decrease in amounts due to related parties | (256) | (1,107) | |
| Increase in deferred revenue | 11,147 | 126,927 | |
| Decrease in provision for employee benefits | (1,504) | (6,067) | |
| Amount paid on settlement of restitution claims | — | (662) | |
| Net cash (used in) / from operating activities |
(40,363) | 85,544 | |
| Cash flows from investing activities |
|||
| (Increase) / Decrease in placement with the Exchange Fund | (18,901) | 91,226 | |
| Decrease / (Increase) in bank deposits with original maturities over three months | 71,200 | (201,600) | |
| Acquisition of property, plant and equipment and intangible assets | (17,187) | (13,396) | |
| Net proceeds from disposals of property, plant and equipment | 50 | 25 | |
| Interest received | 51,575 | 45,507 | |
| Net cash from / (used in) investing activities |
86,737 | (78,238) | |
| Cash flows from financing activities |
|||
| Payments of lease liabilities | 9(b) | (5,040) | (5,080) |
| Net cash used in financing activities |
(5,040) | (5,080) | |
| Net increase in cash and cash equivalents |
41,334 | 2,226 | |
| Cash and cash equivalents at beginning of
year |
8,772 | 6,546 | |
| Cash and cash equivalents at end of year |
18 | 50,106 | 8,772 |
The notes form part of these financial statements.