Annual Report 2020

China Merchants China Direct Investments Limited Annual Report 2020 134 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 December 2020 26. RECONCILIATION OF LIABILITIES ARISING FROM FINANCING ACTIVITIES The table below details changes in the Group’s liabilities arising from financing activities, including both cash and non-cash changes. Liabilities arising from financing activities are those for which cash flows were, or future cash flows will be, classified in the Group’s consolidated statement of cash flows as cash flows from financing activities. Dividend payable US$ At 1 January 2019 — Dividend declared 18,279,962 Financing cash flow (18,279,962) At 31 December 2019 — At 1 January 2020 — Dividend declared 10,663,311 Financing cash flow (10,663,311) At 31 December 2020 — 27. COMMITMENTS At the end of the reporting period, the Group had commitments as follows: (a) On 4 September 2020, the Group entered into a partnership agreement in relation to CASRF Fund L.P. (“ CASRF Fund ”), pursuant to which the Group agreed to make a capital contribution of RMB50 million (equivalent to approximately US$7.58 million) in total by installment into the capital of CASRF Fund, which is specified to be used for an investment in CASREV FUND III-RMB L.P. (“ CASREV Fund III ”) in return for a 1.11% beneficial interest in CASREV Fund III. As at 31 December 2020, the Group has injected RMB25 million (equivalent to approximately US$3.75 million) into CASRF Fund and classified the investment as a financial asset at FVTPL under non-current assets. (b) On 24 September 2020, the Group entered into a partnership agreement in relation to Nanning Huiyou Xingyao Equity Investment Fund L.P. (“ Huiyou Xingyao Fund ”), pursuant to which the Group agreed to make a capital contribution of RMB24 million (equivalent to approximately US$3.65 million) in total by installment into the capital of Huiyou Xingyao Fund in return for a 21.24% interest in Huiyou Xingyao Fund. As at 31 December 2020, the Group has injected RMB16.31 million (equivalent to approximately US$2.47 million) into Huiyou Xingyao Fund and classified the investment as a financial asset at FVTPL under non-current assets.