Annual Report 2021

CHINA MERCHANTS PORT HOLDINGS COMPANY LIMITED 202 Notes to the Consolidated Financial Statements For the year ended 31 December 2021 43. PARTICULARS OF PRINCIPAL ASSOCIATES (CONTINUED) Place of incorporation/ Proportion of registration effective ownership interest Name of associate and operation held by the Company Principal activities 2021 2020 % % Shanghai International Port (Group) Co., Ltd. PRC 26.64 26.77 Ports and container terminal business and related services (A shares listed on the Shanghai Stock Exchange) (Notes (a) and (c)) Shenzhen China Merchants Qianhai Assets PRC 14.00 14.00 Property development and management in Qianhai Development Co., Ltd. (Note (b)) trade zone Terminal Link SAS French 49.00 49.00 Operations of container Republic terminals in Europe, Mediterranean, Africa, Americas and Asia Tianjin Haitian Bonded Logistics Co., Ltd. PRC 49.00 49.00 Provision of container terminal services and (Note (a)) warehouse services Tianjin Port Container Terminal PRC 7.31 7.31 Ports and container terminal Co., Ltd. (Note (b)) business Tin-Can Island Container Terminal Ltd. Federal Republic 28.50 28.50 Provision of container terminal services of Nigeria Zhanjiang Port (Group) Co., Ltd. (Note (a)) PRC 27.58 27.58 Ports and container terminal business Notes: (a) Sino-foreign joint ventures. (b) These entities are considered to be associates of the Company despite that the Group holds less than 20% of the equity interest therein, as the Group has significant influence to appoint and remove the executive committee of the relevant entities, which is empowered to direct the relevant activities of influence of the investees by virtue of agreements. (c) Further details are set out in note 20.