Annual Report 2024

China Merchants China Direct Investments Limited Annual Report 2024 61 DIRECTORS’ REPORT (CONTINUED) CONNECTED TRANSACTIONS (CONTINUED) Temporary Investment Management Agreement The investment management agreement entered into by the Company and the Investment Manager on 18 October 2024 to renew the Existing Management Agreement was not approved by the independent shareholders of the Company and thus did not become effective. The Company and the Investment Manager thus entered into a temporary investment management agreement on 17 December 2024 for a term of 6 months from 1 January 2025, under which the Investment Manager undertakes all investment and management duties arising pursuant to the operations of the Company at a management fee of HK$9,900,000 (or the equivalent amount in US dollars or RMB). Save as disclosed above, details of significant related party transactions are disclosed in note 27 to the consolidated financial statements. The Company has complied with the disclosure requirements in accordance with chapter 14A of the Listing Rules. AUDITOR KPMG were first appointed as auditor of the Company in 2024 upon the retirement of Messrs. Deloitte Touche Tohmatsu at the conclusion of the annual general meeting of the Company held on 20 June 2024. KPMG retire and, being eligible, offer themselves for re-appointment. A resolution for the re-appointment of KPMG as auditor of the Company will be proposed at the forthcoming annual general meeting. On behalf of the Board Mr. ZHOU Xing Chairman Hong Kong, 28 March 2025