Annual Report 2023

China Merchants China Direct Investments Limited Annual Report 2023 145 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 December 2023 23. SHARE CAPITAL OF THE COMPANY Number of shares US$ Issued and fully paid: At 1 January and 31 December 2022, 1 January and 31 December 2023 – Ordinary shares with no par value 152,333,013 139,348,785 24. RESERVES OF THE COMPANY Exchange reserve Retained profits Total US$ US$ US$ Balance at 1 January 2022 6,829,964 119,455,074 126,285,038 Loss for the year — (16,345,330) (16,345,330) Exchange difference (7,310,993) — (7,310,993) Total comprehensive expense for the year (7,310,993) (16,345,330) (23,656,323) 2021 final and special dividends paid — (21,326,622) (21,326,622) Balance at 1 January 2023 (481,029) 81,783,122 81,302,093 Profit for the year — 28,129,923 28,129,923 Exchange difference (1,059,589) — (1,059,589) Total comprehensive (expense) income for the year (1,059,589) 28,129,923 27,070,334 2022 final dividend paid — (10,663,311) (10,663,311) Balance at 31 December 2023 (1,540,618) 99,249,734 97,709,116 25. NET ASSET VALUE PER SHARE The calculation of the net asset value per share at the end of the reporting period is based on the net assets of US$557,939,788 (2022: US$571,570,453) and 152,333,013 ordinary shares (2022: 152,333,013 ordinary shares) with no par value in issue at 31 December 2023.