Annual Report 2020

China Merchants China Direct Investments Limited Annual Report 2020 90 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY For the year ended 31 December 2020 Equity attributable Share Translation General Retained to owners of capital reserve reserve profits the Company US$ US$ US$ US$ US$ Balance at 1 January 2019 139,348,785 58,862,334 11,503,761 365,340,288 575,055,168 Profit for the year — — — 101,808,974 101,808,974 Exchange difference arising on translation to presentation currency — (9,533,938) — — (9,533,938) Total comprehensive (expense) income for the year — (9,533,938) — 101,808,974 92,275,036 2018 final and special dividends paid (note 13) — — — (18,279,962) (18,279,962) Transfer to general reserve — — 1,248,497 (1,248,497) — Balance at 31 December 2019 139,348,785 49,328,396 12,752,258 447,620,803 649,050,242 Balance at 1 January 2020 139,348,785 49,328,396 12,752,258 447,620,803 649,050,242 Profit for the year — — — 89,787,755 89,787,755 Exchange difference arising on translation to presentation currency — 47,256,093 — — 47,256,093 Total comprehensive income for the year — 47,256,093 — 89,787,755 137,043,848 2019 final dividend paid (note 13) — — — (10,663,311) (10,663,311) Transfer to general reserve — — 9,750 (9,750) — Balance at 31 December 2020 139,348,785 96,584,489 12,762,008 526,735,497 775,430,779 The general reserve represents the general reserve fund, which is 10% of its net profit set aside by subsidiaries until the balance reaches 50% of its registered capital, in accordance with relevant laws and regulations of The People’s Republic of China (“ PRC ”) and it is not available for distribution.