Annual Report 2021

CHINA MERCHANTS PORT HOLDINGS COMPANY LIMITED 190 Notes to the Consolidated Financial Statements For the year ended 31 December 2021 39. OBTAINING CONTROL OF A NON-WHOLLY OWNED SUBSIDIARY (CONTINUED) For the year ended 31 December 2020 (continued) Net cash inflow arising on obtaining control of Daxie Port: HK$’million Cash consideration — Less: Cash and bank balances acquired 367 Net cash inflow during the year ended 31 December 2020 367 The non-controlling interests in Daxie Port recognised were measured by reference to the fair values of the identifiable assets acquired and liabilities assumed at the date of obtaining control. Goodwill arising on obtaining control of Daxie Port: HK$’million Fair value of consideration transferred — Add: Non-controlling interests 2,171 Add: Fair values of previously-held interests 1,994 Less: Fair values of identifiable net assets acquired (3,947) Goodwill arising on obtaining control 218 Gain on discontinuance of equity accounting for a joint venture HK$’million Fair values of previously-held interests 1,994 Less: Carrying values of previously-held interests (1,121) Add: Retranslation reserves reclassified to profit or loss 87 Gain on discontinuance of equity accounting for a joint venture 960