Annual Report 2023

31 2023 Annual Report Transport International Holdings Limited Electronic Payment System LWB is the first franchised bus company in Hong Kong to provide diversified e-payment services for the convenience of passengers, especially those from overseas without access to the local currency or an Octopus card upon arrival in the city. The Company continued to enhance its e-payment system in 2023 and accepted payments using American Express, Discover / Diners Club, WeChat Pay HK, and Weixin Pay. Currently, the system accepts sixteen payment methods including contactless payment, mobile payment and QR code payment, making it, together with KMB’s, the e-payment system which accepts more payment methods than any other public transport operators’ system. Bus Service Network At the end of 2023, LWB operated 42 routes. Subsequent to the cancellation of social distancing measures and inbound and outbound quarantine restrictions, demand arising from the Hong Kong-Zhuhai-Macao Bridge (“HZMB”) and the Airport resumed rapidly. In view of this, LWB strengthened and resumed relevant services to cope with the demand. Especially for the HZMB area, some routes were re-routed to extend the service coverage to include districts such as Sha Tin, Tsuen Wan, Kwai Tsing, Yuen Long, Tai Po and North District. Bus Fleet and Fleet Upgrade LWB introduced 24 new buses equipped with the latest safety devices in 2023. As of 31 December 2023, LWB operated 281 double-deck buses, including 136 buses which are 12.8 metres in length, and four electric single-deck buses, all wheelchair accessible and equipped with the On-board Electronic Bus Stop Announcement System. Resumption of Normalcy LWB’s customer sources are mainly tourists and tourism- related activities. After the cancellation of social distancing and inbound and outbound quarantine restrictions in Hong Kong in 2023, locals are generally travelling again, and the number of visitors to Hong Kong has gradually rebounded, significantly improving LWB’s passenger flow. LWB implemented measures to increase its bus service level from the pandemic level and ensure that public needs are met. New Fare Adjustment KMB and LWB adjusted their fares with effect from 18 June 2023. As approved by the Chief Executive in Council, LWB fares are set to increase by an overall actual weighted average rate of 4.2% after a 0.3 percentage points migration effect by its Franchised Bus Toll Exemption Fund. The average increment of each LWB journey is HK$0.5. New 10-year Franchise LWB has been granted a new 10-year franchise by the Hong Kong SAR Government, starting from 1 May 2023. In the new term, the KMB Monthly Pass Scheme covers LWB bus routes to reward passengers. The Pass holders are entitled to use the Pass to travel on E-, N-, S-, R- and X- routes operated by LWB and enjoy a 73% off on bus fare when taking LWB’s A and NA routes. This provides Pass holders with access to a bus network that connects different boundary control points. LWB is making multiple measures to meet the travel needs of passengers using the Hong Kong-Zhuhai-Macao Bridge and the Airport in response to the resumption of the normalcy of society and the increasing demand for cross-boundary bus routes