Annual Report 2023

89 ANNUAL REPORT 2023 Consolidated Statement of Cash Flows For the year ended 31 December 2023 Note 2023 2022 HK$’million HK$’million Cash flows from operating activities Net cash inflow from operations 36(a) 6,064 7,139 Hong Kong Profits Tax paid (11) (1) PRC corporate income tax paid (449) (698) Overseas profits tax paid (223) (120) Withholding tax paid on dividends received (177) (131) Dividends received from associates and joint ventures 2,034 2,592 Net cash generated from operating activities 7,238 8,781 Cash flows from/(used in) investing activities Proceeds from withdrawal of other deposits and structured deposits 18,569 8,169 Repayment from an associate 3,295 — Proceeds from disposal of a subsidiary (net of cash and bank balances disposed of, tax paid, and payment of costs attributable to the disposal) 37 1,841 (22) Interest income received 442 360 Proceeds from disposal of a subsidiary in prior year 146 — Proceeds from disposal of property, plant and equipment 9 10 Proceeds from disposal of financial assets at fair value through profit or loss 2 — Placement of other deposits and structured deposits (20,425) (6,881) Purchase of property, plant and equipment, investment properties, intangible assets and right-of-use assets (1,309) (1,514) Investments in associates and joint ventures (1) (2,801) Tax payments relating to resumption of land parcels in previous years — (1,145) Net cash from/(used in) investing activities 2,569 (3,824) Net cash inflow before financing activities carried forward 9,807 4,957