cmcdi.com.hk - China Merchants China Direct Investments Limited

The Investment Manager

The Company's investment portfolio is being managed by China Merchants China Investment Management Limited ("CMCIM"). CMCIM is a fund management company formed by China Merchants Group ("CMG") and First Eastern Investment Group ("First Eastern"). CMG is the major shareholder of CMCIM.

Being founded in 1872, CMG has a long history of more than 135 years. CMG is the forerunner of China's national industry and commerce, and its century-long development is also renowned as an epitome of the development history of China's national industry and commerce. Entering into the new millennium, CMG determines to target for the third brilliant achievements in its history by pursuing new corporate strategies.

As a state-owned enterprise, CMG has always been well known for its entrepreneurship and expertise in management of China's investments. CMG's outstanding track record of investments and developments includes:

Forerunner of China's reform and openness - being the first state-owned enterprise authorised by the PRC government to develop and operate an industrial zone, namely China Merchants Shekou Industrial Zone, the success of which has widely been recognized as a pattern for other development zones in China.
Establishing the first joint-stock commercial bank and the first joint-stock insurance company in China, namely China Merchants Bank and Ping An Insurance Company of China respectively, setting a successful example in China's financial reform.
Being the first state-owned enterprise to spin off and list its assets, namely China Merchants Holdings (International) Company Limited (Listing code: 0144.HK) on the Hong Kong Stock Exchange. The then IPO recorded an over-subscription rate of 373 times, breaking the then record of IPOs in Hong Kong.

CMG, with its headquarters in Hong Kong, is also one of the big four state-owned enterprises in Hong Kong. It now operates across Hong Kong, mainland China and Southeast Asia with the following three core businesses: (1) transportations and its related facilities like ports, toll roads, energy shipping, logistics, etc.; (2) financial services; and (3) real estate. As of the end of 2007, CMG's total assets amounted to over HK$215 billion and total assets under its management amounted to nearly HK$1,502 billion.

To aim for enhancing its management efficiency, CMG has divided its assets into sectors and each of the sectors is assigned to professional managers for dedicated management. Pursuant to this strategy, a financial arm - China Merchants Finance Holdings Company Limited ("CMFH") was established on 18 June 1999 and is responsible for managing all CMG's financial assets like CMCIM, China Merchants Bank Company Limited, China Merchants Securities Company, Limited, etc. As of the end of 2007, CMFH had a total assets of HK$35.1 billion and the assets under its management included China Merchants Bank - total assets amounting to over RMB 1,311 billion and China Merchants Securities - total assets amounting to over RMB 81.4 billion.

First Eastern, the other shareholder of CMCIM, is a privately held fund management group based in Hong Kong and founded by Mr. Chu Lap Lik, Victor in 1988. First Eastern now has offices in Hong Kong, Beijing, Shanghai as well as Bahrain and has been participating in the management of over 80 direct investment projects, of which include the sectors of financials, media, infrastructure, manufacturing, etc. and with a total value of over US$600 million, in China and certain other regions.

CMCIM is registered under the Securities & Futures Ordinance of Hong Kong as licensed corporation for running a certain type of regulated activities. The board of directors of CMCIM comprises seven directors, namely Mr. Hong Xiaoyuan (Chairman), Mr. Chu Lap Lik, Victor (Vice Chairman), Ms. Zhou Linda Lei (Managing Director), Mr. Ng Chi Keung, Jack (Deputy Managing Director), Mr. Wu Huifeng, Mr. Tse Yue Kit, Mr. Yam Kam Shing and Ms. Ho Man Yi (alternate to Mr. Chu Lap Lik, Victor).