Annual Report 2022

Transport International Holdings Limited 2022 Annual Report 14 CHAIRMAN’S LETTER Financial Performance in 2022 The Kowloon Motor Bus Company (1933) Limited (“KMB”) recorded a loss after taxation of HK$4.7 million, representing an unfavourable variance of HK$106.1 million compared to 2021. As for Long Win Bus Company Limited (“LWB”), the loss after taxation for 2022 was HK$27.8 million, representing a favourable variance of HK$7.2 million compared to 2021. Strict border control measures were still in effect amid virus worries in the first half of 2022. It was not until late September 2022, when the Hong Kong SAR Government relaxed quarantine arrangements for inbound travellers, that the number of visitor arrivals and departures showed improvements despite the fact that the patronage of LWB still recorded a very significant decline. The Group’s non-franchised Transport Operations Division, with Sun Bus Limited (“Sun Bus”) as its flagship company, recorded a profit after taxation of HK$3.5 million, representing a decrease of HK$5.3 million compared with the profit after taxation of HK$8.8 million for 2021. Dear Shareholders, On behalf of the Board of Directors, I hereby report that the Group’s profit attributable to equity shareholders for the year ended 31 December 2022 was HK$143.6 million, a decrease of HK$101.4 million compared to 2021. The decline was mainly due to a drop in the number of citizens and tourists travelling caused by the fifth wave of COVID-19 epidemic in Hong Kong. Dividends The Board of Directors has proposed an ordinary final dividend of HK$0.50 per share to be paid on 30 June 2023. The total dividend for the year amounted to HK$0.50 per share. The Group dedicates itself to promoting and incorporating the value of Environmental, Social and Governance (“ESG”) management into the daily operations of every department.