Annual Report 2021

China Merchants China Direct Investments Limited Annual Report 2021 123 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 December 2021 9. PROFIT BEFORE TAXATION 2021 2020 US$ US$ Profit before taxation has been arrived at after charging (crediting): Auditor’s remuneration 229,226 205,347 Net foreign exchange loss (gain) 77,438 (182,838) Investment Manager’s management fee (note 28 (a)) 13,971,923 11,511,019 Investment Manager’s performance fee (note 28 (b)) 4,906,543 9,587,735 Directors’ fees 166,318 138,505 10. DIRECTORS’ EMOLUMENTS The Group has no chief executives and the Directors’ fees paid or payable to each of the 13 (2020: 11) Directors were as follows: 2021 2020 US$ US$ Executive Directors: Mr. WANG Xiaoding — — Mr. TSE Yue Kit — — Ms. KAN Ka Yee, Elizabeth (Note a) — — Mr. CHU Lap Lik, Victor # (Alternate Director) (Note a) — — — —