Page 80 - Annual Report

HONG KONG ACADEMY OF MEDICINE HONG KONG ACADEMY OF MEDICINE
香 香港醫學專科學院 香 香港醫學專科學院
學
專
專
港
科
學
院
港
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醫
科
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醫
CONSOLIDATED STATEMENT OF CHANGES IN RESERVE AND FUNDS CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024 FOR THE YEAR ENDED 31 DECEMBER 2024

Note 2024 2023
Fair value Foundation General HK$ HK$
reserve fund fund Total Operating activities
HK$ HK$ HK$ HK$ (Deficit)/surplus for the year (3,147,157) 10,662,320
Adjustments for:
At 1 January 2023 (2,225,076) 37,936,231 53,232,425 88,943,580
Depreciation 5,717,884 5,579,105
Surplus for the year - - 10,662,320 10,662,320 Interest income (3,009,688) (2,631,995)
Dividend income from other financial assets (352,372) (432,577)
Other comprehensive loss
Investments in equity instruments designated Operating cash flows before changes in working
at fair value through other comprehensive capital (791,333) 13,176,853
income:
Changes in fair value (221,160) - - (221,160) Decrease/(increase) in inventories 45,023 (207,957)
(Increase)/decrease in prepayments, deposits and
Total comprehensive income/(loss) for the other receivables (1,466,230) 1,120,919
year (221,160) - 10,662,320 10,441,160
Increase/(decrease) in deferred income 24,835,498 (485,902)
At 31 December 2023 and 1 January 2024 (2,446,236) 37,936,231 63,894,745 99,384,740 Increase in accruals and other payables 533,909 3,475,313

Deficit for the year - - (3,147,157) (3,147,157) Net cash generated from operating activities 23,156,867 17,079,226

Other comprehensive income Investing activities
Investments in equity instruments designated Purchase of property, plant and equipment (4,121,707) (914,253)
at fair value through other comprehensive Withdrawal/(placement) of time deposits with original
income:
Changes in fair value 1,629,564 - - 1,629,564 maturity over three months 27,083,836 (35,028,630)
Interest received 3,009,688 2,631,995
Total comprehensive (loss)/income for the Dividend received from other financial assets 352,372 432,577
year 1,629,564 - (3,147,157) (1,517,593)
Net cash generated from/(used in) investing activities 26,324,189 (32,878,311)
At 31 December 2024 (816,672) 37,936,231 60,747,588 97,867,147
Net increase/(decrease) in cash and cash equivalents 49,481,056 (15,799,085)

Cash and cash equivalents at 1 January 29,034,267 44,833,352

Cash and cash equivalents at 31 December 13 78,515,323 29,034,267

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

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78 HKAM Annual Report 2025