Page 75 - Annual Report

HONG KONG ACADEMY OF MEDICINE
香 港 醫 學 專 科 學 院
香港醫學專科學院
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2022

Note 2022 2021
HK$ HK$
Operating activities
Deficit for the year (9,237,977) (6,955,142)
Adjustments for:
Depreciation 9,332,261 12,814,545
Interest income (791,368) (317,028)
Dividend income from other financial assets (348,818) (321,950)

Operating cash flows before changes in
working capital (1,045,902) 5,220,425

(Increase)/decrease in inventories (43,758) 54,015
Increase in prepayments, deposits and other
receivables (3,880,742) (1,918,134)
Decrease in receipts in advance - (120,810)
(Decrease)/increase in deferred income (1,649,486) 7,235,922
Increase in accruals and other payables 1,585,070 1,325,100

Net cash (used in)/generated from operating
activities (5,034,818) 11,796,518

Investing activities
Purchase of property, plant and equipment (4,956,191) (2,978,065)
Withdrawal/(placement) of time deposits 30,759,475 (10,505,467)
Interest received 791,368 317,028
Dividend received from other financial assets 348,818 321,950

Net cash generated from/(used in) investing
activities 26,943,470 (12,844,554)

Net increase/(decrease) in cash and cash
equivalents 21,908,652 (1,048,036)

Cash and cash equivalents at 1 January 22,924,700 23,972,736

Cash and cash equivalents at 31 December 14 44,833,352 22,924,700

The accompanying notes form an integral part of these consolidated financial statements.

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香港醫學專科學院 2023 年度報告 73