Annual Report 2024

China Merchants China Direct Investments Limited Annual Report 2024 109 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 December 2024 2. APPLICATION OF AMENDMENTS TO HONG KONG FINANCIAL REPORTING STANDARDS (“HKFRSs”) (CONTINUED) Amendments to HKFRSs in issue but not yet effective Up to the date of issue of these financial statements, the HKICPA has issued a number of new or amended standards, which are not yet effective for the year ended 31 December 2024 and which have not been early adopted in these financial statements. These developments include the following which may be relevant to the Group. Amendments to HKAS 9 and HKFRS 7 Amendments to the classification and measurement of financial instruments 1 Amendments to HKFRS Annual improvements to HKFRS Accounting Standards – Volume 11 1 HKFRS 18 Presentation and disclosure in financial statements 2 HKFRS 19 Subsidiaries without public accountability: disclosures 2 1 Effective for annual periods beginning on or after 1 January 2026. 2 Effective for annual periods beginning on or after 1 January 2027. The management anticipates that the application of the amendments to HKFRSs will have no material impact on the consolidated financial statements in the foreseeable future. 3. MATERIAL ACCOUNTING POLICY INFORMATION The consolidated financial statements have been prepared in accordance with HKFRSs issued by HKICPA. For the purpose of preparation of the consolidated financial statements, information is considered material if such information is reasonably expected to influence decisions made by primary users. In addition, the consolidated financial statements include applicable disclosures required by the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Listing Rules ”) and by the Hong Kong Companies Ordinance. The Directors have, at the time of approving the consolidated financial statements, a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the consolidated financial statements. The consolidated financial statements have been prepared on the historical cost basis except for certain financial instruments, which are measured at fair values at the end of each reporting period, as explained in the accounting policies set out below. Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.