Annual Report 2022

100 China Merchants China Direct Investments Limited Annual Report 2022 CONSOLIDATED STATEMENT OF CASH FLOWS For the year ended 31 December 2022 2022 2021 Note US$ US$ OPERATING ACTIVITIES (Loss) profit before taxation (196,387,262) 43,020,768 Adjustments for: Interest income (216,625) (297,161) Dividend income from equity investments (14,630,903) (13,847,265) Net loss (gain) on financial assets at fair value through profit or loss 199,780,049 (48,648,395) Operating cash flows before movements in working capital (11,454,741) (19,772,053) Proceeds from disposal of financial assets at fair value through profit or loss 16,397,635 798,344 Return of capital from financial assets at fair value through profit or loss 756,302 24,041,305 Purchases of financial assets at fair value through profit or loss (10,728,082) (25,943,085) Decrease in other receivables and prepayments 12,656,878 199,329 Decrease in other payables (8,779,969) (4,387,613) Decrease in financial liabilities designated at fair value through profit or loss (113,973) (217,573) Cash used in operations (1,265,950) (25,281,346) Interest received 223,447 291,737 Dividends received 15,555,865 14,558,328 Income taxes paid (1,824,504) (2,294,421) NET CASH GENERATED FROM (USED IN) OPERATING ACTIVITIES 12,688,858 (12,725,702) CASH USED IN FINANCING ACTIVITIES Dividends paid 26 (21,326,622) (12,186,641) NET DECREASE IN CASH AND CASH EQUIVALENTS (8,637,764) (24,912,343) CASH AND CASH EQUIVALENTS AS AT 1 JANUARY 36,641,135 60,363,011 EFFECT OF FOREIGN EXCHANGE RATE CHANGES (2,514,155) 1,190,467 CASH AND CASH EQUIVALENTS AS AT 31 DECEMBER 25,489,216 36,641,135