Annual Report 2021

China Merchants China Direct Investments Limited Annual Report 2021 50 DIRECTORS’ REPORT (CONTINUED) DIRECTORS’ INTERESTS IN TRANSACTIONS, ARRANGEMENTS OR CONTRACTS OF SIGNIFICANCE Details of the sub-participation scheme are set out on pages 34 to 39 of the Annual Report. Save as disclosed, no transactions, arrangements or contracts of significance, to which the Company, its parent company, its subsidiaries or fellow subsidiaries was a party and in which a Director of the Company or his/her connected entities had a material interest, whether directly or indirectly, subsisted at the end of the year or at any time during the year. COMPETING INTERESTS Mr. ZHOU Xing is a Director of China Merchants Capital Investment Co., Ltd. which is actively involved in direct investments and which may compete, either directly or indirectly, with the business of the Group. Mr. ZHANG Rizhong is a Director and the General Manager of China Merchants Investment Development Company Limited which is actively involved in direct investments in the PRC and which may compete, either directly or indirectly, with the business of the Group. Ms. KAN Ka Yee, Elizabeth is a Director of various companies within First Eastern Investment Group which is actively involved in direct investments in the PRC and which may compete, either directly or indirectly, with the business of the Group. However, the Company is capable of carrying on its business independently of, and at arm’s length from, the businesses of China Merchants Capital Investment Co., Ltd., China Merchants Investment Development Company Limited and First Eastern Investment Group. If conflict of interest arises on the part of Mr. ZHOU Xing, Mr. ZHANG Rizhong, or Ms. KAN Ka Yee, Elizabeth, as the case may be, he or she shall, pursuant to the Articles of Association of the Company, not vote nor be counted in the quorum on the relevant resolution of the Board. Save as disclosed, in so far as the Directors are aware, none of the Directors or any of their respective associates has an interest in a business that competes or may compete with the business of the Group. DIRECTORS’ SERVICE CONTRACTS The Directors proposed for re-election at the forthcoming annual general meeting do not have service contracts which are not determinable by the Company within one year without payment of compensation (other than statutory compensation).