# 55. Balance sheet and statement of changes in equity (continued)

# (b) Statement of changes in equity

<table><tr><td rowspan="3"></td><td colspan="4">Reserves</td></tr><tr><td>Share capital</td><td>Reserve for 
fair value 
changes/
Reserve for fair 
value changes of 
available-for-sale 
securities</td><td>Retained 
earnings</td><td>Total equity</td></tr><tr><td>HK$’m</td><td>HK$’m</td><td>HK$’m</td><td>HK$’m</td></tr><tr><td>At 1 January 2017</td><td>52,864</td><td>1,276</td><td>7,201</td><td>61,341</td></tr><tr><td>Profit for the year</td><td>–</td><td>–</td><td>15,515</td><td>15,515</td></tr><tr><td>Other comprehensive income:</td><td></td><td></td><td></td><td></td></tr><tr><td>Available-for-sale securities</td><td>–</td><td>354</td><td>–</td><td>354</td></tr><tr><td>Total comprehensive income</td><td>–</td><td>354</td><td>15,515</td><td>15,869</td></tr><tr><td>Dividends</td><td>–</td><td>–</td><td>(13,375)</td><td>(13,375)</td></tr><tr><td>At 31 December 2017</td><td>52,864</td><td>1,630</td><td>9,341</td><td>63,835</td></tr><tr><td>At 1 January 2018, 
as previously reported</td><td>52,864</td><td>1,630</td><td>9,341</td><td>63,835</td></tr><tr><td>Effect of adoption of HKFRS 9</td><td>–</td><td>(2,730)</td><td>2,730</td><td>–</td></tr><tr><td>At 1 January 2018, after adoption 
of HKFRS 9</td><td>52,864</td><td>(1,100)</td><td>12,071</td><td>63,835</td></tr><tr><td>Profit for the year</td><td>–</td><td>–</td><td>16,035</td><td>16,035</td></tr><tr><td>Other comprehensive income:</td><td></td><td></td><td></td><td></td></tr><tr><td>Equity instruments at fair value 
   through other comprehensive 
   income</td><td>–</td><td>(763)</td><td>–</td><td>(763)</td></tr><tr><td>Total comprehensive income</td><td>–</td><td>(763)</td><td>16,035</td><td>15,272</td></tr><tr><td>Dividends</td><td>–</td><td>–</td><td>(13,776)</td><td>(13,776)</td></tr><tr><td>At 31 December 2018</td><td>52,864</td><td>(1,863)</td><td>14,330</td><td>65,331</td></tr></table>

# 56. Principal subsidiaries

The particulars of all direct and indirect subsidiaries of the Company are set out in “Appendix – Subsidiaries of the Company”. The following is a list of principal subsidiaries as at 31 December 2018:

<table><tr><td>Name</td><td>Place of 
incorporation 
and operation</td><td>Issued share capital</td><td>Interest held</td><td>Principal activities</td></tr><tr><td>Bank of China (Hong Kong) Limited</td><td>Hong Kong</td><td>HK$43,042,840,858</td><td>*100%</td><td>Banking business</td></tr><tr><td>BOC Group Life Assurance Company Limited</td><td>Hong Kong</td><td>HK$3,538,000,000</td><td>*51%</td><td>Life insurance
business</td></tr><tr><td>BOC Credit Card (International) Limited</td><td>Hong Kong</td><td>HK$480,000,000</td><td>100%</td><td>Credit card services</td></tr><tr><td>Bank of China (Malaysia) Berhad</td><td>Malaysia</td><td>RM760,518,480</td><td>100%</td><td>Banking business</td></tr><tr><td>Bank of China (Thai) Public Company Limited</td><td>Thailand</td><td>Baht10,000,000,000</td><td>100%</td><td>Banking business</td></tr><tr><td>Po Sang Securities and Futures Limited</td><td>Hong Kong</td><td>HK$335,000,000</td><td>100%</td><td>Securities and futures 
brokerage</td></tr></table>

\* Shares held directly by the Company

The particulars of a subsidiary with significant non-controlling interests are as follows:

# BOC Group Life Assurance Company Limited

<table><tr><td></td><td>2018</td><td>2017</td></tr><tr><td>Proportion of ownership interests and voting rights held by 
non-controlling interests</td><td>49%</td><td>49%</td></tr></table>

<table><tr><td rowspan="2"></td><td>2018</td><td>2017</td></tr><tr><td>HK$’m</td><td>HK$’m</td></tr><tr><td>Profit attributable to non-controlling interests</td><td>420</td><td>586</td></tr><tr><td>Accumulated non-controlling interests</td><td>4,083</td><td>4,334</td></tr><tr><td>Summarised financial information:</td><td></td><td></td></tr><tr><td>– total assets</td><td>132,417</td><td>130,597</td></tr><tr><td>– total liabilities</td><td>124,085</td><td>121,752</td></tr><tr><td>– profit for the year</td><td>857</td><td>1,196</td></tr><tr><td>– total comprehensive income for the year</td><td>(182)</td><td>1,492</td></tr></table>