Annual Report 2021

104 Transport International Holdings Limited 2021 Annual Report FINANCIAL REVIEW Shenzhen Bus Group Company Limited ( 深圳巴士集團股份有限公司 ) (“SZBG”) SZBG, which commenced operations in January 2005, is a Sino-foreign joint stock company formed by KMB (Shenzhen) Transport Investment Limited ( 九巴 ( 深圳 ) 交通投資有限公司 ), a wholly-owned subsidiary of the Group, and four other China Mainland investors. The Group has invested RMB387.1 million (equivalent to HK$363.9 million at the investment date) in SZBG, representing a stake of 35%. SZBG mainly provides public bus, minibus and taxi services in Shenzhen City, Guangdong Province ( 廣東省深圳市 ), operating a fleet of over 5,500 buses running on around 320 routes and over 5,000 taxis. As a result of effective containment of the COVID-19 pandemic in China, the number of patronage of SZBG including its bus and taxi operation increased by 11.7% to 544.1 million in 2021 as compared to 487.0 million in 2020. Beijing Beiqi Kowloon Taxi Company Limited ( 北京北汽九龍出租汽車股份有限公司 ) (“BBKT”) BBKT, a Sino-foreign joint stock company, was established in Beijing in March 2003. BBKT’s shareholders include KMB (Beijing) Taxi Investment Limited ( 九巴 ( 北京 ) 出租汽車投資有限公司 ), a wholly-owned subsidiary of the Group, and four other China Mainland investors. The Group has invested RMB80.0 million (equivalent to HK$75.5 million at the investment date) in BBKT, representing an equity interest of 31.38%. BBKT operated both taxi hire and car rental businesses in Beijing until April 2013, when, to sharpen its focus on the business opportunities provided by the booming but challenging car rental market, BBKT spun off its car rental business to another Sino-foreign joint stock company, namely Beijing Beiqi First Company Limited ( 北京 北汽福斯特股份有限公司 ), which has the same shareholding structure as BBKT. As at 31 December 2021, BBKT had a fleet of over 3,700 taxis and 2,872 employees. Beijing Beiqi First Company Limited ( 北京北汽福斯特股份有限公司 ) (“BBF”) Established in April 2013 as a Sino-foreign joint stock company with the same shareholding structure as BBKT, BBF operates the car rental business formerly undertaken by BBKT. With ISO 9001:2008 certification for management systems in car rental services, BBF is well placed to take advantage of the business opportunities afforded by business commuters as well as by the wide variety of events, conferences and exhibitions that are held in the capital. As at 31 December 2021, BBF had over 1,100 vehicles available for charter mainly in Beijing and Tianjin.