Annual Report 2022

2022 Annual Report Transport International Holdings Limited 111 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 5,600 buses running on more than 320 routes and over 4,800 taxis. As a result of the outbreak of COVID-19 in China, the number of patronage of SZBG, including that of its bus and taxi operations decreased by 28.3% to 389.9 million in 2022 as compared to 544.1 million in 2021. 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 2022, BBKT had a fleet of over 3,700 taxis and 2,300 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. Being ISO 9001:2008 certified for its Quality Management Systems in the provision of 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 2022, BBF had over 900 vehicles available for charter mainly in Beijing and Tianjin.