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CONDENSED CONSOLIDATED CASH FLOW STATEMENT 36 LI & FUNG LIMITED | INTERIM REPORT 2012 UNAUDITED SIX MONTHS ENDED 30 JUNE 2012 2011 US$’000 US$’000 Net cash (outflow)/inflow from operating activities (12,074) 212,548 Net cash outflow from investing activities (290,870) (477,705) Net cash outflow before financing activities (302,944) (265,157) Net cash inflow/(outflow) from financing activities 184,266 (97,444) Decrease in cash and cash equivalents (118,678) (362,601) Cash and cash equivalents at 1 January 426,015 940,232 Effect of foreign exchange rate changes (841) (4,230) Cash and cash equivalents at 30 June 306,496 573,401 Analysis of the balances of cash and cash equivalents: Cash and bank balances 307,054 574,934 Bank overdrafts (558) (1,533) 306,496 573,401
NOTES TO CONDENSED INTERIM FINANCIAL REPORT 1 GENERAL INFORMATION Li & Fung Limited (“the Company”) and its subsidiaries (together, “the Group”) are principally engaged in managing the supply chain for retailers and brands worldwide from over 300 offices and distribution centers in more than 40 economies. The Company is a limited liability company incorporated in Bermuda. The address of its registered office is Canon’s Court, 22 Victoria Street, Hamilton HM12, Bermuda. The Company’s shares are listed on The Stock Exchange of Hong Kong Limited. These condensed interim financial report are presented in US dollars, unless otherwise stated. This condensed interim financial report was approved for issue on 9 August 2012. 2 BASIS OF PREPARATION AND ACCOUNTING POLICIES The unaudited condensed interim financial report (the “interim financial report”) has been reviewed by the Company’s audit committee and, in accordance with Hong Kong Standard on Review Engagements 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”), by the Company’s auditor, PricewaterhouseCoopers. This interim financial report has been prepared in accordance with Hong Kong Accounting Standard (“HKAS”) 34 “Interim Financial Reporting” issued by the HKICPA and Appendix 16 of the Rules Governing the Listing of Securities of The Stock Exchange of Hong Kong Limited. This interim financial report should be read in conjunction with the annual accounts for the year ended 31 December 2011, which were prepared in accordance with Hong Kong Financial Reporting Standards (“HKFRSs”). The preparation of interim financial report requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates. In preparing these interim financial report, the significant judgments made by management in applying the Group’s accounting policies and the key sources of estimation uncertainty were the same as those that applied to the consolidated accounts for the year ended 31 December 2011. Except as described in (a) below, the accounting policies applied are consistent with those of the annual accounts for the year ended 31 December 2011, as described in those annual accounts. Taxes on income in the interim periods are accrued using the tax rate that would be applicable to expected total annual earnings. (a) New and amended standards adopted by the Group The following new and amended standards and interpretations of HKFRSs are mandatory for accounting periods beginning on or after 1 January 2012 but are not relevant to the Group’s operations: HKAS 12 (amendment) Deferred tax: recovery of underlying assets HKFRS 1 (amendment) Severe hyperinflation and removal of fixed dates for first-time adopters HKFRS 7 (amendment) Disclosures – Transfers of financial assets LI & FUNG LIMITED | INTERIM REPORT 2012 37
Page 3 and 4: CONTENTS 2 Corporate Information 3
Page 5 and 6: HIGHLIGHTS HALF YEAR RESULTS TO 30
Page 7 and 8: CHAIRMAN’S STATEMENT (CONTINUED)
Page 9 and 10: MANAGEMENT DISCUSSION AND ANALYSIS
Page 11 and 12: MANAGEMENT DISCUSSION AND ANALYSIS
Page 13 and 14: CORPORATE GOVERNANCE The Board of D
Page 15 and 16: CORPORATE GOVERNANCE (CONTINUED) RE
Page 17 and 18: CORPORATE GOVERNANCE (CONTINUED) IN
Page 19 and 20: DIRECTORS AND SENIOR MANAGEMENT (CO
Page 25 and 26: DIRECTORS’ INTERESTS AND SHORT PO
Page 27 and 28: DIRECTORS’ INTERESTS AND SHORT PO
Page 29 and 30: OTHER INFORMATION CHANGES IN DIRECT
Page 31 and 32: CONDENSED INTERIM FINANCIAL REPORT
Page 33 and 34: CONSOLIDATED STATEMENT OF COMPREHEN
Page 35 and 36: CONSOLIDATED BALANCE SHEET (CONTINU
Page 37: CONSOLIDATED STATEMENT OF CHANGES I
Page 41 and 42: NOTES TO CONDENSED INTERIM FINANCIA
Page 57: NOTES TO CONDENSED INTERIM FINANCIA

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