Annual Report 2020

China Merchants China Direct Investments Limited Annual Report 2020 122 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 December 2020 10. DIRECTORS’ EMOLUMENTS (CONTINUED) 2020 2019 US$ US$ Non-executive Directors (Note b): Mr. ZHANG Jian — — Mr. ZHANG Rizhong — — Mr. KE Shifeng 30,967 30,822 30,967 30,822 Independent Non-executive Director and Chairman of the Audit Committee (Note b): Mr. TSANG Wah Kwong 36,128 35,960 Independent Non-executive Directors (Note b): Mr. LIU Baojie 30,967 30,822 Dr. LI Fang 30,967 30,822 Dr. GONG Shaolin ** 9,476 N/A 71,410 61,644 Total 138,505 128,426 * The Director was appointed as Executive Director and resigned as Alternate Director during the year 2020. ** The Director was appointed as Independent Non-executive Director during the year 2020. # The Director resigned as Executive Director and was appointed as Alternate Director during the year 2020. Notes: (a) Ms. KAN Ka Yee, Elizabeth and Mr. CHU Lap Lik, Victor have indirect beneficial interests in the Investment Manager which entered into an Investment Management Agreement with the Company on 18 October 2018 and became effective on 1 January 2019 and is for a fixed term of three years. The details of the existing investment management agreement can be referred to the circular dated 8 November 2018. The amount of management fee and performance fee paid or accrued to the Investment Manager is disclosed in note 28 to the consolidated financial statements. (b) The emoluments for Non-executive Director and Independent Non-executive Directors shown above were for their services as Directors of the Company. (c) There was no arrangement under which the above Directors waived or agreed to waive any remuneration during both years. (d) There was no amount as inducement for the above Directors to join the Company and compensation for the loss of office as Directors in connection with the management of the affairs of the Group during both years.