Annual Report 2023

CONSOLIDATED STATEMENT OF CASH FLOWS For the year ended 31 December 2023 China Merchants China Direct Investments Limited Annual Report 2023 105 2023 2022 Note US$ US$ OPERATING ACTIVITIES Loss before taxation (1,094,022) (196,387,262) Adjustments for: Interest income (322,233) (216,625) Dividend income from equity investments (18,794,805) (14,630,903) Net loss on financial assets at fair value through profit or loss 9,028,514 199,780,049 Operating cash flows before movements in working capital (11,182,546) (11,454,741) Proceeds from disposal of financial assets at fair value through profit or loss 828,954 16,397,635 Return of capital from financial assets at fair value through profit or loss 3,331,933 756,302 Purchases of financial assets at fair value through profit or loss (17,059,455) (10,728,082) (Increase)/Decrease in other receivables and prepayments (27,886) 12,656,878 Increase/(Decrease) in other payables 387,171 (8,779,969) Increase/(Decrease) in financial liabilities designated at fair value through profit or loss 38,307 (113,973) Cash used in operations (23,683,522) (1,265,950) Interest received 346,301 223,447 Dividends received 18,794,805 15,555,865 Income taxes paid (1,271,527) (1,824,504) NET CASH (USED IN) GENERATED FROM OPERATING ACTIVITIES (5,813,943) 12,688,858 CASH USED IN FINANCING ACTIVITIES Dividends paid 26 (10,663,311) (21,326,622) NET DECREASE IN CASH AND CASH EQUIVALENTS (16,477,254) (8,637,764) CASH AND CASH EQUIVALENTS AS AT 1 JANUARY 25,489,216 36,641,135 EFFECT OF FOREIGN EXCHANGE RATE CHANGES (384,313) (2,514,155) TOTAL CASH AND CASH EQUIVALENTS AS AT 31 DECEMBER 8,627,649 25,489,216