Annual Report 2023

Report of the Directors CHINA MERCHANTS PORT HOLDINGS COMPANY LIMITED 74 the annual cap in respect of the service fees for port and port-related comprehensive services payable by the Group to CMPG Group under the 2022 CMPG Services Framework Agreement upwards to RMB17.00 million (equivalent to approximately HK$18.89 million). The aggregate service fees for the provision of port and port-related comprehensive services received and receivable by the Group from CMPG Group and the service fees for port and port-related comprehensive services paid and payable by the Group to CMPG Group for the year ended 31 December 2023 were RMB26.47 million (equivalent to approximately HK$29.41 million) and RMB9.89 million (equivalent to approximately HK$10.99 million), respectively. CMPG is a substantial shareholder of the Company, and accordingly, CMPG is a connected person of the Company. (c) The Independent Non-executive Directors have reviewed the continuing connected transactions set out in paragraph (b) of this section above. In their opinion, these transactions were: (i) in the ordinary and usual course of business of the Group; (ii) on normal commercial terms; and (iii) in accordance with the relevant agreements governing such transactions and on terms that are fair and reasonable and in the interests of the shareholders of the Company as a whole. The Independent Non-executive Directors further opined that: (i) in respect of the provision of terminal services by the Group to the MSC Group, details of which are set out in the note (i) to paragraph (b) of this section, the aggregate service fees for Terminal Services Transactions have not exceeded HK$2,520.00 million, the annual cap for the year ended 31 December 2023; (ii) in respect of the provision of warehouse services by Shenzhen Nanyou to CMBL, details of which are set out in note (ii) to paragraph (b) of this section, the aggregate service fees have not exceeded RMB45.00 million, the annual cap for the year ended 31 December 2023; (iii) in respect of the placing of deposits with China Merchants Finance and interest income arising from the depositing of money, details of which are set out in note (iii) to paragraph (b) of this section, the amount of deposit that was made by the Group with China Merchants Finance during the year ended 31 December 2023 has not exceeded HK$2,100.00 million, the annual caps for the year ended 31 December 2023 and the amount of interest income from the depositing of money during the year ended 31 December 2023 has not exceeded HK$81.00 million, the annual caps for the year ended 31 December 2023; (iv) in respect of the provision of ship berthing services by Yiu Lian to CMCS, details of which are set out in note (iv) to paragraph (b) of this section, the aggregate ship berthing service fees paid have not exceeded HK$12.00 million, the annual cap for the year ended 31 December 2023; (v) in respect of the provision of technology consulting services, system maintenance, software development and information systems integration services by CMIT to members of the Group, details of which are set out in note (v) to paragraph (b) of this section, the aggregate service fees paid have not exceeded RMB300.00 million, the annual cap for the year ended 31 December 2023; (vi) in respect of the leasing of the residential units under the Existing Qianhai Bay Garden Lease Agreements and the 2023 Qianhai Bay Garden Lease Agreements, details of which are set out in note (vi) to paragraph (b) of this section, the aggregate amount of rental income received by the Group for the year ended 31 December 2023 have not exceeded RMB20.90 million, the relevant annual caps for the aggregate rental income for the year ended 31 December 2023;