Annual Report 2022

127 China Merchants China Direct Investments Limited Annual Report 2022 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 December 2022 9. (LOSS) PROFIT BEFORE TAXATION 2022 2021 US$ US$ (Loss) profit before taxation has been arrived at after charging: Auditor's remuneration 244,303 229,226 Net foreign exchange loss 440,753 77,438 Investment Manager's management fee (note 27 (a)) 11,154,282 13,971,923 Investment Manager's performance fee — 4,906,543 Directors' fees 209,473 166,318 10. DIRECTORS’ EMOLUMENTS The Group has no chief executives and the Directors’ fees paid or payable to each of the 12 (2021: 13) Directors were as follows: 2022 2021 US$ US$ Executive Directors: Mr. WANG Xiaoding — — Ms. KAN Ka Yee, Elizabeth (Note a) — — Mr. CHU Lap Lik, Victor ## (Alternate Director) N/A — — —