Annual Report 200973Consolidated Statement of Cash FlowsFor the year ended 31st December, 20092009HK$’0002008HK$’000NotesOperating activitiesProfit (loss) before tax– continuing operations– discontinued operationAdjustments for:Depreciation of property and other fixed assets Amortisation of intangible assetsAmortisation of prepaid lease paymentsIncome from financial guarantee to an associateInterest expensesImputed interest expensesInterest incomeImputed interest incomeDividend income from listed and unlisted investmentsDividend income from an associate Impairment loss (reversed) recognised in respect of trade receivables Impairment loss recognised in respect of available-for-sale investmentUnrealised gain arising on change in fair value of investments held-for-tradingUnrealised loss (gain) arising on change in fair value of derivative financial instruments Realised gain on derivative financial instruments Fair value changes on credit-linked notes Fair value changes on financial assets designated as at fair value through profit or loss Impairment loss reversed in respect of advances to associatesImpairment loss recognised in respect of advance to an associate Impairment loss recognised in respect of interest in an associateTransfer from equity on disposals of available- for-sale investmentsLoss on disposals of investment propertiesGain on disposals of property and other fixed assetsShare of results of associatesFair value changes on investment propertiesGain on redemption of convertible bonds of a subsidiaryGain on purchase of convertible bonds of a subsidiaryGain on disposal of subsidiariesGain on deemed disposal of a subsidiary 10,200,383–(2,960,986)(1,950)22,1372,860790(252)80,399465(177,489)(15,650)(296,713)(3,300)20,0052,860805–274,3436,118(209,776)(27,153)(174,774)–(316)–(18,173)15578,881–3,238(24,432)(48,087)(26,419)––16,771––(187)4883,300–610(377)(122,630)(8,564,301)––(53,051) (35,134) 5,472653(3,652,989)2,721(102)8,3887,467,668(5,595)(6,396)(3,870)–74CHINESE ESTATES HOLDINGS LIMITED 置Consolidated Statement of Cash FlowsFor the year ended 31st December, 2009Notes2009HK$’0002008HK$’000Operating cash flows before movements in working capitalDecrease in stock of propertiesDecrease in loans receivableDecrease (increase) in inventories for cosmetic products(Increase) decrease in debtors, deposits and prepayments(Increase) decrease in investments held-for-tradingIncrease in financial assets designated as at fair value through profit or lossIncrease in credit-linked notesDecrease in equity-linked notes(Increase) decrease in securities trading receivable and depositsDecrease in presale proceeds held by stakeholdersIncrease in creditors and accrualsIncrease (decrease) in securities trading and margin payableIncrease in deposits and receipts in advanceIncrease in provisionsCash generated from operating activitiesNet Hong Kong profits tax paidNet cash generated from operating activities 971,5361,089,109117433(166,045)(625,781)797,872183,8951,640(2,001)75,801367,753(745,009)(302,564)–(330,195)27,322100,8992,460266,114–––101,516240,648143,26828,498(221,463)93,794371,811,258(203,073) 288,396(73,000) 215,396 1,608,185Investing activitiesDividend received from listed and unlisted investmentsDividend received from associatesInterest receivedPurchases of and payment for investment propertiesPurchase of property and other fixed assetsPayments for properties under developmentPayments for stock of propertiesProceeds on disposals of investment propertiesProceeds on disposals of property and other fixed assetsProceeds from disposals of available-for-sale investmentsPurchases of available-for-sale investmentsNet cash inflow on acquisition of subsidiariesNet cash inflow on disposal of subsidiariesAcquisition of additional interests in subsidiariesAdvances to associatesRepayment from investee companiesAdvances to investee companies(Increase) decrease in pledged deposits296,7133,300173,838(933,777)(7,703)–(622,156)9,115491–(1,270,856)4849–751,059–(131,538)4,023–(638,603) 174,774286,010208,097(371,808)(9,441)(19,142)(437,116)176,9291057,081,038(253,223)189,858170,185(2,019)(401,477)–(22,446)7,627 Annual Report 200975Consolidated Statement of Cash FlowsFor the year ended 31st December, 20092009NotesHK$’0002008HK$’000Net cash (used in) generated from investing activities (2,366,094) 6,777,951Financing activitiesDividends paidDividend paid to non-controlling shareholdersInterest paidNew bank loans and other loans raisedRepayments of bank loans and other loansRepurchase of own sharesNet proceeds from share placing of a subsidiaryPurchase of convertible bonds issued by a non-wholly owned subsidiaryRedemption of convertible bonds of a subsidiaryCapital contribution by non-controlling shareholders (3,068,472) (4,225,287)(270) (19,828)–(72,000)–(109,335)145,470–(3,274,002)(2,576)(80,399)5,268,623(3,671,625)(1,453,693)(771,424)(28,500)(274,343)640,000(1,300,675)(2,289,182)Net cash used in financing activitiesNet (decrease) increase in cash and cash equivalentsCash and cash equivalents at 1st January 10,418,8779596,167,84590,183(5,219,170)4,160,849Effect of foreign exchange rate changes Cash and cash equivalents at 31st December 5,200,666 10,418,877Analysis of the balances of cash and cash equivalentsTime deposits, bank balances and cash 5,200,666 10,418,877The accompanying notes form an integral part of these consolidated financial statements.