Annual Report 2023

12 12 China Merchants China Direct Investments Limited Annual Report 2023 INVESTMENT MANAGER’S DISCUSSION AND ANALYSIS (CONTINUED) REVIEW OF INVESTMENTS (CONTINUED) Name of projects Location of headquarters Main business Listed (Stock Exchange)/ unlisted Carrying value Percentage of total assets Percentage of net assets US$ million % % Information Technology: 10. Xi’an Jinpower Electrical Co., Ltd. Xi’an, Shaanxi Power grid monitoring system New Third Board Note 0 0.05 0.06 # 11. Anhui Iflytek Venture Capital LLP Hefei, Anhui Information technology investment Unlisted 21 3.09 3.83 # 12. iFLYTEK Co., Ltd. Hefei, Anhui Intelligent speech technology Shenzhen Stock Exchange 45 6.44 7.98 13. Ningbo Meishan Free Trade Port Area Jiangmen Venture Capital LLP Beijing Information technology investment Unlisted 9 1.23 1.53 # 14. Pony AI Inc. Fremont, California Autonomous driving Unlisted 16 2.38 2.95 # 15. Arashi Vision Inc. Shenzhen, Guangdong 360-degree video products Unlisted 18 2.62 3.25 # 16. Xunfei Healthcare Technology Co., Ltd. Hefei, Anhui Artificial intelligence medical Unlisted 41 5.88 7.29 # 17. China UnionPay Co., Ltd. Shanghai Financial payment Unlisted 55 7.94 9.85 18. CASREV FUND III-RMB L.P. Beijing Technology & medical investment Unlisted 11 1.59 1.97 19. Flexiv Ltd. Shanghai Adaptive robots Unlisted 6 0.87 1.08 20. Beijing Huashun Xin’an Technology Co., Ltd. Beijing Cyber security Unlisted 1 0.22 0.27 21. Xinyi Information Technology Ltd. Shanghai System on a chip for Internet of Things Unlisted 5 0.72 0.89 22. Rizhao Azuri Technologies Co., Ltd. Rizhao, Shandong Direct modulated lasers Unlisted 4 0.51 0.64 23. Beijing Hanwei Innovation Technology Co., Ltd. Beijing Ultra-wideband chip Unlisted 7 1.02 1.27 24. Moonshot AI Ltd. Beijing Large multimodal model Unlisted 10 1.44 1.79 Sub-total: 249 36.00 44.65