Annual Report 2021

China Merchants China Direct Investments Limited Annual Report 2021 42 DIRECTORS’ REPORT (CONTINUED) ISSUED SHARES Details of movements during the year in the issued shares of the Company are set out in note 23 to the consolidated financial statements. EMOLUMENT POLICY The emoluments of the Directors of the Company are fixed by the Board of Directors with the authorisation by the shareholders meeting. PURCHASE, SALE OR REDEMPTION OF SHARES OF THE COMPANY During the year, neither the Company nor any of its subsidiaries has purchased, sold or redeemed any of the Company’s shares. DIRECTORS The Directors of the Company during the year and up to the date of this report were: Mr. ZHOU Xing* (Chairman) (Appointed on 26 April 2021) Mr. ZHANG Rizhong* Mr. WANG Xiaoding # Mr. TSE Yue Kit # Ms. KAN Ka Yee, Elizabeth # Mr. KE Shifeng* Mr. LIU Baojie** Mr. TSANG Wah Kwong** Dr. LI Fang** Dr. GONG Shaolin** Mr. Michael Charles VITERI** (Appointed on 18 October 2021) Mr. ZHANG Jian* (Chairman) (Resigned on 26 April 2021) Mr. CHU Lap Lik, Victor (alternate to Ms. KAN Ka Yee, Elizabeth # ) (Resigned on 13 September 2021) # Executive Directors * Non-executive Directors ** Independent Non-executive Directors As at the date of this report, in accordance with Article 101 and Article 105 of the Articles of Association of the Company, Mr. WANG Xiaoding, Ms. KAN Ka Yee, Elizabeth, Mr. KE Shifeng, Mr. TSANG Wah Kwong and Mr. Michael Charles VITERI retire and, being eligible, offer themselves for re-election at the forthcoming annual general meeting. The Company has received annual confirmation from each of the Independent Non-executive Directors as regards their independence pursuant to Rule 3.13 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Listing Rules ”) and considers that each of the Independent Non-executive Directors is independent to the Company.