Annual Report 2021

CHINA MERCHANTS PORT HOLDINGS COMPANY LIMITED 132 Notes to the Consolidated Financial Statements For the year ended 31 December 2021 6. PROFIT FOR THE YEAR 2021 2020 HK$’million HK$’million Profit for the year has been arrived at after charging: Staff costs (including Directors’ emoluments) (note 8) 2,218 1,800 Depreciation of property, plant and equipment 1,511 1,296 Depreciation of right-of-use assets 500 478 Amortisation of intangible assets 275 259 Auditor’s remuneration (including fees for non-audit services) 10 11 7. OTHER INCOME AND OTHER GAINS, NET 2021 2020 HK$’million HK$’million Gain on modification of contract terms for a concession arrangement (note 34(a)) 944 — Net gain on deemed disposal of partial interest in associates (note 20) 454 — Gain/(loss) on disposal of property, plant and equipment 10 (120) Gain on resumption of land parcels at Shantou (Note) — 1,722 Gain on deemed disposal of a subsidiary (note 20) 17 — Net changes in fair value of financial liabilities at FVTPL (575) (765) Net changes in fair value of financial assets at FVTPL (30) 256 Net changes in fair value of investment properties (note 18) 21 149 Net allowance for credit losses of trade debtors and other debtors (291) (510) Impairment loss recognised in respect of goodwill (note 15) — (621) Gain on discontinuance of equity accounting for a joint venture (note 39) — 960 Net exchange gain 8 446 Dividend income from equity investments 88 87 Government grants 268 190 Others 67 58 981 1,852 Note: The land use rights at Shantou owned by the Group as at 31 December 2019 classified as non-current assets held for sale were resumed by SLRC during the year ended 31 December 2020. The total compensation for the resumption of those related assets were RMB2,381 million (equivalent to approximately HK$2,655 million), resulting in a gain on the resumption of HK$1,722 million, net of resumption costs amounting to HK$158 million.