Annual Report 2023

Notes to the Consolidated Financial Statements For the year ended 31 December 2023 200 CHINA MERCHANTS PORT HOLDINGS COMPANY LIMITED 41. PARTICULARS OF PRINCIPAL ASSOCIATES (CONTINUED) Name of associate Place of incorporation/ registration and operation Proportion of effective ownership interest held by the Company Principal activities 2023 2022 % % Shenzhen China Merchants Qianhai Assets Development Co., Ltd. (Note (b)) PRC 14.00 14.00 Property development and management in Qianhai trade zone Terminal Link SAS French Republic 49.00 49.00 Operations of container terminals in Europe, Mediterranean, Africa, Americas and Asia Tianjin Haitian Bonded Logistics Co., Ltd. (Note (a)) PRC 49.00 49.00 Provision of container terminal services and warehouse services Tianjin Port Container Terminal Co., Ltd. (Note (b)) PRC 7.31 7.31 Ports and container terminal business Tin-Can Island Container Terminal Ltd. Federal Republic of Nigeria 28.50 28.50 Provision of container terminal services 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.