Annual Report 2025

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 December 2025 China Merchants China Direct Investments Limited Annual Report 2025 149 15. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS (CONTINUED) The following are the details of all investments with a value of more than 5% of the Group’s total assets as at 31 December 2025 and 31 December 2024 and also details of ten largest investments of the Group. For the year ended 31 December 2025 Name of investees Description of the business Proportion of investee’s capital owned Investment cost Carrying value Dividend/ distribution received during the year % of the Group’s net assets as at year end attributable to the investment US$ million US$ million US$ million China Merchants Bank Co., Ltd. Banking 0.22% 19.79 331 15.44 39.61% China Credit Trust Co., Ltd. Trust management 6.94% 50.49 188 1.43 22.54% Arashi Vision Inc. 360-degree video products 1.46% 4.27 187 Nil 22.40% iFLYTEK Co., Ltd. Intelligent speech technology 0.29% 18.83 49 0.09 5.83% Xunfei Healthcare Technology Co., Ltd Artificial intelligence medical 3.51% 20.01 43 Nil 5.10% NBA China, L.P. Sports marketing 1% participating preferred unit 0.00 39 3.01 4.66% JIC Leasing Co., Ltd. Finance leasing 4.98% 38.78 27 Nil 3.19% China UnionPay Co., Ltd. Financial payment 0.05% 9.33 25 0.14 3.05% Pony AI Inc. Autonomous driving 0.37% 6.03 23 Nil 2.76% Anhui Iflytek Information Technology LLP Information technology investment 14.95% 2.76 19 Nil 2.27%