Annual Report 2023

All environmental targets for key performance indicators were achieved positive results in 2023, demonstrating the Group’s commitment to promoting sustainable development and the effectiveness of the corresponding strategies. 14 2023 Annual Report Transport International Holdings Limited CHAIRMAN’S LETTER 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 2023 was HK$401.7 million (2022 (restated): HK$549.0 million). Excluding the effect of fair value changes on investment properties and investment property under development, the profit attributable to equity shareholders of the Company for 2023 and 2022 would have been HK$114.3 million and HK$100.4 million respectively. The Group’s net profit in 2023 was primarily contributed from its investment income from equity investments and rental income from its investment properties. Nevertheless, these profits were partly offset by expected credit losses on certain listed debt securities. Dividends The Board of Directors has proposed an ordinary final dividend of HK$0.50 per share for 2023. The dividend will be payable on 30 June 2024. Together with the interim dividend of HK$0.30 per share, the total dividend for the year will amount to HK$0.80 per share, compared to HK$0.50 per share last year. Financial Performance in 2023 The Kowloon Motor Bus Company (1933) Limited (“KMB”) recorded a profit after taxation of HK$11.5 million for 2023 (2022 (restated): loss after taxation of HK$49.9 million). As for Long Win Bus Company Limited (“LWB”), the profit after taxation for 2023 was HK$23.1 million (2022 (restated): loss after taxation of HK$30.8 million). 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$13.9 million (2022 (restated): HK$1.4 million). Our Mainland Transport Operations Division recorded positive overall results in 2023. 90 Years of Travelling Alongside Our Customers Established in 1933, KMB celebrated its 90 th anniversary through various large-scale events last year, garnering support from the government, business partners, and the general public. On behalf of the Board of Directors, I would like to express my sincere gratitude to the esteemed members of society and the general public for their unwavering support. Come rain or shine, all employees of KMB have been resolute in their commitment and remained dedicated to their positions over the past 90 years, providing the citizens of Hong Kong and visitors alike with safe, reliable, comfortable, environmentally friendly, innovative, and cost-effective bus services. KMB will continue to uphold our commitment to serving the public by investing resources to drive the development of the transportation industry in Hong Kong, especially the introduction of eco-friendly double-deckers, advanced safety equipment, innovative passenger facilities, and an expanding service network. Also, we will align with the policies of the National and Hong Kong SAR Governments, injecting a continuous stream of energy into Hong Kong’s economy and bolstering its international status, including that within the Greater Bay Area.