Annual Report 2023

195 ANNUAL REPORT 2023 39. RELATED PARTY TRANSACTIONS (CONTINUED) (c) Key management compensation 2023 2022 HK$’million HK$’million Salaries and other short-term employee benefits 21 26 40. PARTICULARS OF PRINCIPAL SUBSIDIARIES The table below lists only those subsidiaries of the Company which, in the opinion of the directors, principally affect the results for the year or form a substantial portion of the net assets of the Group. To give details of other subsidiaries would, in the opinion of the directors, result in particulars of excessive length. Particulars of the Company’s principal subsidiaries are as follows: Place of Issued incorporation/ share capital/ registration registered Proportion of effective ownership Name of subsidiary and operation capital interest held by the Company Principal activities Directly Indirectly 2023 2022 2023 2022 % % % % China Merchants Bonded Logistics Co., Limited (Note (b)) PRC RMB700,000,000 — — 60.00 60.00 Provision of container related logistics services China Merchants Container Services Limited Hong Kong HK$500,000 — — 100.00 100.00 Provision of container terminal services and ports transportation China Merchants Finance Company Limited (Note (f)) British Virgin Islands US$1 100.00 100.00 — — Provision of financial services China Merchants International Container Terminal (Qingdao) Co., Ltd. (Note (a)) PRC US$206,300,000 — — 100.00 100.00 Provision of container terminal services and ports transportation China Merchants International Ports (Ningbo) Limited Hong Kong HK$1 100.00 100.00 — — Investment holding China Merchants International Terminal (Qingdao) Company Ltd. (Note (b)) PRC US$44,000,000 — — 90.10 90.10 Provision of container related logistics services China Merchants Port Services (Shenzhen) Company Limited (Note (a)) PRC RMB550,000,000 — — 100.00 100.00 Provision of terminal services and ports transportation