Annual Report 2025

INDEPENDENT AUDITOR’S REPORT (CONTINUED) China Merchants China Direct Investments Limited Annual Report 2025 111 Auditor’s responsibilities for the audit of the consolidated financial statements (continued) From the matters communicated with the Audit Committee, we determine the matter that was of most significance in the audit of the consolidated financial statements of the current period and is therefore the key audit matter. We describe the matter in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication. The engagement partner on the audit resulting in the independent auditor’s report is HUI, Chuen Ho (practising certificate number: P05551). KPMG Certified Public Accountants 8th Floor, Prince’s Building 10 Chater Road Central, Hong Kong 27 March 2026