Annual Report 2021

China Merchants China Direct Investments Limited Annual Report 2021 95 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2021 1. GENERAL INFORMATION China Merchants China Direct Investments Limited (the “ Company ”) is a public limited company incorporated in Hong Kong and its shares are listed on The Stock Exchange of Hong Kong Limited. The addresses of the registered office and principal place of business of the Company are disclosed in the corporate information of the Annual Report. The Company and its subsidiaries are collectively referred to as the “ Group ”. The Company acts as an investment holding company. The activities of the subsidiaries are set out in note 29. The major sources of income of the Group arising in the course of the ordinary activities which are the revenue of the Group are net gain (loss) on financial assets at fair value through profit or loss (“ FVTPL ”) and investment income. The functional currency of the Company is Renminbi (“ RMB ”). For the purpose of convenience of the consolidated financial statements users, the consolidated financial statements are presented in United States dollars (“ USD ”). 2. APPLICATION OF AMENDMENTS TO HONG KONG FINANCIAL REPORTING STANDARDS (“HKFRSs”) Amendments to HKFRSs that are mandatorily effective for the current year The application of the amendments to HKFRSs in the current year has had no material impact on the Group’s financial positions and performance for the current and prior years and/or on the disclosures set out in these consolidated financial statements. Amendments to HKFRSs in issue but not yet effective The Group has not early applied the following amendments to HKFRSs that have been issued but are not yet effective that are relevant to the business operation of the Group: Amendments to HKFRS 3 Reference to the conceptual framwork 1 Amendments to HKAS 1 Classification of liabilities as current or non-current and related amendments to Hong Kong Interpretation 5 (2020) 2 Amendments to HKAS 1 and HKFRS Practice Statement 2 Disclosure of Accounting Policies 2 Amendments to HKAS 8 Definition of accounting estimates 2 Amendments to HKFRSs Annual improvements to HKFRSs 2018 - 2020 1 1 Effective for annual periods beginning on or after 1 January 2022. 2 Effective for annual periods beginning on or after 1 January 2023. The management anticipates that the application of all amendments to HKFRSs will have no material impact on the consolidated financial statements in the foreseeable future.