Table of Contents 1 282

Annual Report 2023

COVER	1
INSIDE FRONT COVER	3
CONTENTS	3
GROUP PROFILE	5
BUSINESS AT A GLANCE	7
KEY FRANCHISED BUS NETWORK IN HONG KONG	9
FINANCIAL AND OPERATIONAL HIGHLIGHTS	11
CORPORATE MILESTONES 2023	13
CHAIRMAN’S LETTER	17
MANAGING DIRECTOR’S MESSAGE	21
MANAGEMENT DISCUSSION AND ANALYSIS	23
BUSINESS REVIEW	23
HONG KONG FRANCHISED PUBLIC BUS OPERATIONS	25
HONG KONG NON-FRANCHISED TRANSPORT OPERATIONS	37
CHINA MAINLAND TRANSPORT OPERATIONS	41
PROPERTY HOLDINGS AND DEVELOPMENT	43
SUSTAINABILITY REPORT	47
ABOUT THE REPORT	47
SAFETY FIRST	55
CARING FOR THE ENVIRONMENT	63
CARING FOR CUSTOMERS	75
CARING FOR EMPLOYEES	85
STAKEHOLDER ENGAGEMENT	93
PERFORMANCE STATISTICS	101
REPORTING CONTENT INDEX TABLE	105
FINANCIAL REVIEW	117
GOVERNANCE	133
CORPORATE GOVERNANCE REPORT	133
REMUNERATION REPORT	157
DIRECTORS’ PROFILES	161
KEY CORPORATE EXECUTIVES	170
FINANCIAL REPORTS	171
DIRECTORS’ REPORT	172
INDEPENDENT AUDITOR’S REPORT	185
CONSOLIDATED STATEMENT OF PROFIT OR LOSS	193
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME	194
CONSOLIDATED STATEMENT OF FINANCIAL POSITION	195
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY	197
CONSOLIDATED CASH FLOW STATEMENT	199
NOTES TO THE FINANCIAL STATEMENTS	201
FINANCIAL SUMMARY	278
CORPORATE DIRECTORY	280
BACK COVER	282
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Blank Page	281

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