Annual Report 2020

China Merchants China Direct Investments Limited Annual Report 2020 12 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: 13. Xi’an Jinpower Electrical Co., Ltd. Xi’an, Shaanxi Power grid monitoring system New Third Board Note 1 0.09 0.11 14. Anhui Iflytek Venture Capital LLP Hefei, Anhui Information technology investment Unlisted 12 1.27 1.59 # 15. Iflytek Co., Ltd. Hefei, Anhui Intelligent speech technology Shenzhen Stock Exchange 43 4.39 5.50 16. Ningbo Meishan Free Trade Port Area Jiangmen Venture Capital LLP Beijing Information technology investment Unlisted 5 0.50 0.63 # 17. Cambricon Technologies Corporation Limited Beijing Artificial intelligence chips SSE STAR Market 17 1.72 2.16 # 18. Pony AI Inc. Fremont, California Autonomous driving Unlisted 35 3.62 4.54 19. Arashi Vision Inc. Shenzhen, Guangdong 360-degree video products Unlisted 3 0.34 0.42 # 20. Anhui iFlytek Healthcare Information Technology Co., Ltd. Hefei, Anhui Artificial intelligence medical Unlisted 14 1.50 1.88 21. CASREV FUND III-RMB L.P. Beijing Technology & medical investment Unlisted 4 0.39 0.49 22. Flexiv Ltd. Shanghai Adaptive robots Unlisted 5 0.51 0.64 Sub-total: 139 14.33 17.96 Others: (i) Manufacturing: 23. Shenzhen Geesun Intelligent Technology Co., Ltd. Shenzhen, Guangdong Production equipment for lithium ion batteries Unlisted 0 0.03 0.04 24. Hwagain Group Co., Ltd. Nanning, Guangxi Printing paper & tissue paper Unlisted 6 0.65 0.82 (ii) Energy & Resources: 25. Wuhan Rixin Technology Co., Ltd. Wuhan, Hubei Solar energy New Third Board Note 3 0.24 0.31 (iii) Pharmaceutical: 26. Nanning Huiyou Xingyao Equity Investment Fund L.P. Nanning, Guangxi Biopharmaceutical investment Unlisted 3 0.26 0.32 Sub-total: 12 1.18 1.49 Total: 905 93.11 116.65 # Ten largest investments of the Fund as of 31 December 2020 Note: New Third Board means National Equities Exchange and Quotations