Annual Report 2020

China Merchants China Direct Investments Limited Annual Report 2020 113 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 December 2020 5. FINANCIAL INSTRUMENTS (CONTINUED) Fair value measurement of financial instruments (continued) Fair value of the Group’s financial assets and financial liabilities that are measured at fair value on a recurring basis (continued) Reconciliation of Level 3 fair value measurements of financial assets: Financial assets at FVTPL US$ Balance at 1 January 2019 386,473,390 Gains recognised in profit or loss 19,600,225 Exchange difference arising on translation to presentation currency (5,474,841) Purchases 5,409,313 Return of capital (29,029,919) Transfer out of Level 3 to Level 1 (6,745,846) Balance at 31 December 2019 370,232,322 Balance at 1 January 2020 370,232,322 Gains recognised in profit or loss 73,368,746 Exchange difference arising on translation to presentation currency 25,752,125 Purchases 41,906,310 Disposals (5,430,008) Return of capital (29,563,554) Transfer out of Level 2 to Level 3 14,907,829 Transfer out of Level 3 to Level 1 (5,179,209) Balance at 31 December 2020 485,994,561