Annual Report 2024

142 China Merchants China Direct Investments Limited Annual Report 2024 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 December 2024 16. OTHER RECEIVABLES AND PREPAYMENTS 2024 2023 US$ US$ Interest receivable — 14,449 Other receivables and prepayments 194,801 103,071 Total 194,801 117,520 17. CASH AND CASH EQUIVALENTS Cash and cash equivalents comprise current accounts, savings accounts and short-term bank deposits at fixed prevailing market interest rates. Cash and cash equivalents held by subsidiaries in the PRC are subject to exchange control restrictions. The carrying amount of such balances in the consolidated financial statements as at 31 December 2024 was approximately of US$15.51 million (2023: US$4.92 million). 18. OTHER PAYABLES 2024 2023 US$ US$ Management fee payable 6,897,939 5,305,169 Other tax payable 18,960,388 18,960,388 Other payables 682,771 698,704 Total 26,541,098 24,964,261 19. TAXATION PAYABLE The taxation payable represents applicable PRC taxes calculated at the rates prevailing in the relevant regions mainly for the Enterprise Income Tax arose from PRC subsidiaries.