Annual Report 2021

China Merchants China Direct Investments Limited Annual Report 2021 135 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 December 2021 23. SHARE CAPITAL OF THE COMPANY Number of shares US$ Issued and fully paid: At 1 January and 31 December 2020, 1 January and 31 December 2021 – Ordinary shares with no par value 152,333,013 139,348,785 24. RESERVES OF THE COMPANY Exchange reserve Retained profits Total US$ US$ US$ Balance at 1 January 2020 (1,500,916) 95,245,332 93,744,416 Profit for the year — 30,002,317 30,002,317 Exchange difference 6,004,701 — 6,004,701 Total comprehensive income for the year 6,004,701 30,002,317 36,007,018 2019 final dividend paid — (10,663,311) (10,663,311) Balance at 1 January 2021 4,503,785 114,584,338 119,088,123 Profit for the year — 17,057,377 17,057,377 Exchange difference 2,326,179 — 2,326,179 Total comprehensive income for the year 2,326,179 17,057,377 19,383,556 2020 final and special dividends paid — (12,186,641) (12,186,641) Balance at 31 December 2021 6,829,964 119,455,074 126,285,038 25. NET ASSET VALUE PER SHARE The calculation of the net asset value per share at the end of the reporting period is based on the net assets of US$805,697,463 (2020: US$775,430,779) and 152,333,013 ordinary shares (2020: 152,333,013 ordinary shares) with no par value in issue at 31 December 2021.