Annual Report 2023

87 ANNUAL REPORT 2023 Consolidated Statement of Changes in Equity For The Year Ended 31 December 2023 Attributable to equity holders of the Company Perpetual capital securities Non- controlling interests Total Note Share capital Other reserves Retained earnings Total HK$’million HK$’million HK$’million HK$’million HK$’million HK$’million HK$’million (note 29) As at 1 January 2023 46,668 474 49,827 96,969 6,246 19,361 122,576 Adjustments for adoption of amendments to Hong Kong Accounting Standards (“HKAS”) 12 — — 53 53 — 9 62 As at 1 January 2023 (adjusted) 46,668 474 49,880 97,022 6,246 19,370 122,638 COMPREHENSIVE INCOME Profit for the year — — 6,233 6,233 191 961 7,385 Other comprehensive (expense)/income Exchange differences from retranslation of investments in subsidiaries, associates and joint ventures — (1,324) — (1,324) — 58 (1,266) Release of reserves upon disposal of a subsidiary 37 — 57 52 109 — — 109 Net actuarial (loss)/gain on defined benefit plans of subsidiaries — — (2) (2) — 11 9 Surplus on revaluation of an owner occupied property upon change of use to investment property — 52 — 52 — — 52 Share of other reserves of associates — 1,026 — 1,026 — — 1,026 Share of net actuarial loss on defined benefit plans of associates and joint ventures — — (16) (16) — — (16) Total other comprehensive (expense)/income for the year, net of tax — (189) 34 (155) — 69 (86) Total comprehensive (expense)/income for the year — (189) 6,267 6,078 191 1,030 7,299 TRANSACTIONS WITH OWNERS Issue of shares in lieu of dividends 27 2,063 — — 2,063 — — 2,063 Transfer to statutory reserve — 107 (107) — — — — Acquisition of additional interest in a subsidiary 19 (e) — 1 — 1 — (878) (877) Disposal of a subsidiary 37 — — — — — (1,941) (1,941) Contribution from immediate holding company — 1 — 1 — — 1 Share of other changes in equity attributable to equity holders of associates and joint ventures — 301 — 301 — — 301 Capital injection to a subsidiary — — — — — 89 89 Distribution to holders of perpetual capital securities 28 — — — — (225) — (225) Redemption of the perpetual capital securities — — — — (4,690) — (4,690) Dividends — — (3,311) (3,311) — (502) (3,813) Total transactions with owners for the year 2,063 410 (3,418) (945) (4,915) (3,232) (9,092) As at 31 December 2023 48,731 695 52,729 102,155 1,522 17,168 120,845