ANNUAL REPORT 2025 165 NOTES TO THE FINANCIAL STATEMENTS 17 Other non-current assets Group 2025 2024 HK$’000 HK$’000 Investments Listed equity security 35,100 31,050 River Ports Economic Benefi ts (Note) 167,500 219,873 202,600 250,923 Note: The River Ports Economic Benefi ts represent the economic interest and benefi ts of the river ports in Nanhai and Jiangmen, China (together the “River Ports”), including all dividends and any other distributions or other monies payable to a related company or any of its subsidiary companies in its capacity as a shareholder of the relevant holding company of the River Ports arising from the profi ts attributable to the business of the River Ports and all sale or disposal proceeds derived from such businesses, assets, rights and/or liabilities constituting any part of the business of the River Ports as agreed with a related company and any of its subsidiary companies. The movement is due to change in fair value. 18 Deferred tax Group 2025 2024 HK$’000 HK$’000 Deferred tax assets (47,437) (37,073) Deferred tax liabilities 7,726,320 8,083,600 Net deferred tax liabilities 7,678,883 8,046,527 The movements in deferred tax (assets)/liabilities during the year are as follows: Unused tax losses Accelerated depreciation allowances Fair value adjustments arising from acquisitions Withholding tax on unremitted earnings Other temporary diff erences Total HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 2025 At 1 January 2025 (492) 465,211 7,261,849 350,130 (30,171) 8,046,527 Tax charged/(credited) to income statement 228 (17,842) (327,644) (17,017) (5,020) (367,295) Others (1) (13) – (25) (310) (349) At 31 December 2025 (265) 447,356 6,934,205 333,088 (35,501) 7,678,883 2024 At 1 January 2024 (32,558) 485,518 7,596,320 366,485 (19,777) 8,395,988 Tax charged/(credited) to income statement 32,060 (20,315) (334,471) (16,355) (10,525) (349,606) Others 6 8 – – 131 145 At 31 December 2024 (492) 465,211 7,261,849 350,130 (30,171) 8,046,527 Notes: (a) The deferred tax assets and liabilities are off set when there is a legally enforceable right to set off and when the deferred taxes relate to the same fi scal authority.
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