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 145 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 and become a world top class enterprise with international 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 also one of the big four state-owned enterprises in Hong Kong. It is now a conglomerate with three business platforms of industries (covering ports, toll roads, shipping, logistics, real estate, zone development, offshore engineering and trade), financial services, investment and capital operation. As of the end of 2018, CMG抯 total assets amounted to RMB8 trillion.

To further develop its alternative investment and management business, CMG has established a specialized arm, namely China Merchants Capital Investment Co., Ltd. ("CMC"), which is also the holding company of CMCIM. CMC is a company incorporated in Shenzhen, PRC with a registered capital of RMB1 billion. It is headquartered in Shenzhen while the office in Hong Kong serves as a platform for cross-border business. CMC currently has a large number of highly qualified investment professionals with international experience and is now managing a number of USD and RMB funds, totaling over hundred billions yuan RMB. CMC invests across a variety of industries and it focuses on the strategic sectors, namely infrastructure (toll roads, ports, etc.), medical & pharmaceutical, financial services, real estate. It also focuses on other sectors like high tech, food & agriculture, culture & media, equipment & machinery, mining, energy, etc.

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, Dubai 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. ZHANG Rizhong (Chairman), Mr. CHU Lap Lik, Victor (Vice Chairman), Mr. WANG Xiaoding (Director & General Manager), Mr. NG Chi Keung (Director & Deputy General Manager), Mr. LAW Hung Kuen, Janson, 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).

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