Annual Report 2024

108 China Merchants China Direct Investments Limited Annual Report 2024 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2024 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 28. 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 In the current year, the Group has applied the following amendments to HKFRSs issued by the Hong Kong Institute of Certified Public Accountants (“ HKICPA ”) for the first time, which are mandatorily effective for the Group’s annual period beginning on 1 January 2024 and relevant for the preparation of the consolidated financial statements: Amendments to HKAS 1 Presentation of financial statements – Classification of liabilities as current or non-current (“ 2020 amendments ”) Amendments to HKAS 1 Presentation of financial statements (the 2020 amendments ) The HKAS 1 amendments impact the classification of a liability as current or non-current, and have been applied retrospectively as a package. The 2020 amendments primarily clarify the classification of a liability that can be settled in its own equity instruments. If the terms of a liability could, at the option of the counterparty, result in its settlement by the transfer of the entity’s own equity instruments and that conversion option is accounted for as an equity instrument, these terms do not affect the classification of the liability as current or non-current. Otherwise, the transfer of equity instruments would constitute settlement of the liability and impact classification. The application of above mentioned 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.