Annual Report 2019

99 ANNUAL REPORT 2019 (ix) as the 2019 Comprehensive Services Framework Agreement and 2019 CMPG Services Framework Agreement are of similar nature or otherwise connected, the port and port-related services provided by the Group to (i) Sinotrans & CSC and its associates and (ii) CMPG Group will be aggregated and treated as if they were one transaction. Similarly, the port-related agency service provided by (i) Sinotrans & CSC and (ii) CMPG Group and its associates to the Group will be aggregated and treated as if they were one transaction. In respect of the receipt of port- related agency service from and the provision of port and port-related service fees to, the CMG Group, details of which are set out in note (ix) to paragraph (j) of this section, the aggregate amount of port and port-related service fees receivable by the Group and its associates from the CMG Group and it associates for the year ended 31 December 2019 have not exceeded RMB75,000,000, the aggregate annual cap for the services fees for the year ended 31 December 2019 and the aggregate service fees payable by the Group and its associates to the CMG Group and its associates for the year ended 31 December 2019 have not exceeded RMB38,000,000, the aggregate annual cap for the services fees for the year ended 31 December 2019; (x) in respect of the provision of property services to CMPM, details of which are set out in note (x) to paragraph (j) of this section, the property service fees paid for the service period in the year ended 31 December 2019 have not exceeded RMB2,600,000, the annual cap for the two months and eleven days ended 11 March 2019; (xi) in respect of the placing of deposits with China Merchants Finance, details of which are set out in note (xi) to paragraph (j) of this section, the maximum amount of deposit that was made by the Group with China Merchants Finance during the year ended 31 December 2019 did not exceed HK$3,500,000,000, the relevant cap as revised for the year ended 31 December 2019; (xii) in respect of the provision of proxy services by Sinotrans Air, details of which are set out in note (xii) to paragraph (j) of this section, the aggregate management fee paid under the Proxy Services Agreement for the year ended 31 December 2019 did not exceed EUR4,000,000, the annual cap for the service fees for the year ended 31 December 2019; (xiii) in respect of the technology consulting services provided by CMHIT, details of which are set out in note (xiii) to paragraph (j) of this section, the amount of service fees paid by the Group to the CMHIT for the year ended 31 December 2019 did not exceed RMB90,000,000, the annual cap for service fees for the year ended 31 December 2019; and (xiv) in respect of the property management services provided by SCMPI, details of which are set out in note (xiv) to paragraph (j) of this section, the amount of service fees paid by the Group to SCMPI for the service period in the year ended 31 December 2019 did not exceed RMB4,400,000, the annual cap for the service fees for the six months ended 31 December 2019. The Company has followed the pricing terms and policies set out in respect of each of the continuing connected transaction listed in paragraph (j) of this section. Save as disclosed above and in the section headed “Related Party Transactions” in note 43 to the consolidated financial statements, there are no other contract, of significance between the Company or any of its subsidiaries, and controlling shareholders or any of its subsidiaries submitted, at the end of the year or at any time during the year. The Company confirms save and except for those connected transactions or continuing connected transactions under the Listing Rules set out in this section headed “Connected Transactions” of the Report of the Directors, the other transactions were not regarded as connected transactions or continuing connected transactions under the Listing Rules or were exempt from reporting, announcement and shareholders’ approval requirements under the Listing Rules. The connected transactions and continuing connected transactions as disclosed in this section headed “Connected Transactions” of the Report of the Directors have complied with the requirements of Chapter 14A of the Listing Rules.