Annual Report 2019

216 CHINA MERCHANTS PORT HOLDINGS COMPANY LIMITED Notes to the Consolidated Financial Statements For the year ended 31 December 2019 38. INFORMATION OF THE CONSOLIDATED STATEMENT OF CASH FLOWS (a) Reconciliation of operating profit to net cash inflow from operations: 2019 2018 HK$’million HK$’million Earnings before finance costs, net, taxation and share of profits less losses of associates and joint ventures 9,243 6,014 Adjustments for: Depreciation and amortisation 1,996 1,970 Increase in fair value of investment properties (105) (376) (Increase)/decrease in fair value of financial assets at FVTPL (513) 1,113 Increase in fair value of financial liabilities at FVTPL 414 149 Net allowance for credit losses of trade debtors and other debtors 38 8 Gain on resumption of land parcels at Qianhai (4,820) — Gain on resumption of land parcels at Shantou (688) — Gain on disposal of property, plant and equipment (17) (15) Gain on deemed disposal of interest in a joint venture (440) — Gain on disposal of subsidiaries — (4,400) Operating profit before working capital changes 5,108 4,463 Increase in inventories (15) (27) Increase in debtors, deposits and prepayments (490) (33) Increase in creditors and accruals 351 144 Net cash inflow from operations 4,954 4,547