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 over 150 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, by pursuing new corporate strategies, CMG determines to become a world top class enterprise with global competitiveness.

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 Port Holdings Company Limited (Stock 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 a key China’s centrally-administered state-owned enterprise (SOE) and is also one of the big four SOEs in Hong Kong. It is a conglomerate with business now focusing on three core sectors, namely transportation, financial services and real estate. As of the end of 2023, CMG’s total assets amounted to RMB13.6 trillion.

China Merchants Capital Investment Co., Ltd. ("CMC"), the holding company of CMCIM and with registered capital of RMB2 billion, is headquartered in Shenzhen while the office in Hong Kong serves as a platform for cross-border business. CMC is the first batch of companies engaged in private equity investment in China, and now has a team of highly qualified investment professionals with international experience. CMC was originally a major subsidiary of CMG, and now becomes a joint venture company specializing in alternative investment and asset management after the introduction of a strategic investor, GLP Pte. Ltd. ("GLP"), in 2019 for mixed-ownership reform. Combined with the strength of CMG in its network and industry background as well as the multiple strengths of GLP in its fund raising (domestically and internationally), fund management, investment and operations, CMC will seize the strategic opportunities emerged from structural reforms, industrial upgrading and new urbanization of China, and will seek their collaboration across four key sectors, namely clean-tech, core technology, bioscience and modern services. As of the end of 2023, CMC has set up and managed a total of 68 RMB and USD funds, with AUM of over RMB300 billion (US$43 billion).

First Eastern, the other shareholder of CMCIM, is a major privately held fund management group based in Hong Kong and founded by Mr. CHU Lap Lik, Victor in 1988. First Eastern has offices in Hong Kong, Beijing, Shanghai, Shenzhen as well as London and has been involved in over 100 direct investment projects in various sectors including consumer goods, financials, media, infrastructure and manufacturing with a total value of over US$1 billion.

CMCIM is registered under the Securities & Futures Ordinance of Hong Kong as licensed corporation for carrying on certain types of regulated activities. The board of directors of CMCIM comprises seven members, namely Mr. YANG Baiqian (Chairman), Mr. CHU Lap Lik, Victor (Vice Chairman), Mr. WANG Xiaoding (Director & General Manager), Mr. NG Chi Keung (Director & Deputy General Manager), Mr. KANG Dong, Mr. TSE Yue Kit, Ms. KAN Ka Yee, Elizabeth, Ms. HO Man Yi (alternate to Mr. CHU Lap Lik, Victor) and Mr. ZENG Yixin (alternate to Ms. KAN Ka Yee, Elizabeth).