Annual Report 2023

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2023 106 106 China Merchants China Direct Investments Limited Annual Report 2023 1. GENERAL INFORMATION China Merchants China Direct Investments Limited (the “ Company ”) is a public limited company incorporated in Hong Kong and its shares are listed on The Stock Exchange of Hong Kong Limited. The addresses of the registered office and principal place of business of the Company are disclosed in the corporate information of the Annual Report. The Company and its subsidiaries are collectively referred to as the “ Group ”. The Company acts as an investment holding company. The activities of the subsidiaries are set out in note 28. The major sources of income of the Group arising in the course of the ordinary activities which are the revenue of the Group are net loss on financial assets at fair value through profit or loss (“ FVTPL ”) and investment income. The functional currency of the Company is Renminbi (“ RMB ”). For the purpose of convenience of the consolidated financial statements users, the consolidated financial statements are presented in United States dollars (“ USD ”). 2. APPLICATION OF AMENDMENTS TO HONG KONG FINANCIAL REPORTING STANDARDS (“HKFRSs”) Amendments to HKFRSs that are mandatorily effective for the current year In the current year, the Group has applied the following amendments to HKFRSs issued by the Hong Kong Institute of Certified Public Accountants (“ HKICPA ”) for the first time, which are mandatorily effective for the Group’s annual period beginning on 1 January 2023 and relevant for the preparation of the consolidated financial statements: Amendments to HKAS 8 Definition of accounting estimates Amendments to HKAS 1 and HKFRS Practice Statement 2 Disclosure of Accounting Policies