Annual Report 2019

112 CHINA MERCHANTS PORT HOLDINGS COMPANY LIMITED Consolidated Statement of Cash Flows For the year ended 31 December 2019 Note 2019 2018 HK$’million HK$’million Cash flows from operating activities Net cash inflow from operations 38(a) 4,954 4,547 Hong Kong Profits Tax paid (3) (4) PRC corporate income tax paid (331) (329) Overseas Profits Tax paid (78) (31) Withholding tax paid on dividends received (211) (203) Dividends received from associates and joint ventures 1,979 2,242 Net cash generated from operating activities 6,310 6,222 Cash flows used in investing activities Proceeds from disposal of subsidiaries (net of cash and cash equivalents disposed of, and tax paid) 39 — 4,159 Proceeds from disposal of property, plant and equipment 82 14 Compensation for resumption of land parcels at Qianhai received 6,457 — Compensation for resumption of land parcels at Shantou received 516 — Repayment from an associate — 143 Interest income received 217 294 Investments in associates and joint ventures (8,905) (4,221) Investment in financial assets at FVTPL (49) — Payment of acquisition of assets through acquisition of a subsidiary in prior year (net of deposit previously paid and cash and cash equivalents acquired) 41 — (10) Purchase of property, plant and equipment, investment properties, land use rights and port operating rights (2,677) (2,564) Acquisition of right-of-use assets (217) — Payments relating to disposal of an available-for-sale financial asset in previous year — (30) Payments relating to disposal of subsidiaries in prior year (78) — Payment of acquisition of subsidiaries (net of cash and cash equivalents acquired) completed in previous years 40 – completed during the year ended 31 December 2018 — (5,628) – completed in previous years — (5,366) Placement of other deposits and restricted bank balance (1,575) (1,968) Deposit paid for acquisition of a subsidiary — (177) Repayment from a related party 1,177 — Proceeds from withdrawal of other deposits and restricted bank balance 2,642 — Net cash used in investing activities (2,410) (15,354) Net cash inflow/(outflow) before financing activities carried forward 3,900 (9,132)