Annual Report 2024

117 2024 Annual Report Transport International Holdings Limited Net Cash Flow For 2024, there was a net increase of HK$146.6 million (2023: net decrease of HK$860.5 million) in cash and cash equivalents. The sources are set out below: 2024 2023 HK$ million HK$ million Net cash generated from/(used in): • Operating activities 1,515.3 1,366.8 • Investing activities (824.6) (1,714.7) • Financing activities (544.1) (512.6) Net cash inflow/(outflow) 146.6 (860.5) The net cash generated from operating activities amounted to HK$1,515.3 million, primarily attributable to the franchised public bus operations, which accounted for HK$1,344.1 million (2023: HK$1,159.6 million). On the other hand, the decrease in net cash used in investing activities was primarily due to the reduction in purchase of new buses and development costs associated with The Millennity. Lastly, the net cash used in financing activities was primarily due to the repayment of bank loans in 2024. Details of the Group’s cash flow movement for the year ended 31 December 2024 are set out in the consolidated cash flow statement on pages 196 to 197 of this Annual Report. Treasury Risk Management The Group’s activities are exposed to various financial risks, including foreign currency, interest rate, fuel price, credit and liquidity risks. The Group’s exposure to these risks as well as its risk management policies and practices are described below: Foreign Currency Risk The Group is exposed to foreign currency risk primarily through purchases of new buses and motor vehicle components from overseas, investments in financial assets measured at FVOCI (recycling) and deposits placed at banks that are denominated in a foreign currency. The currencies giving rise to this risk are primarily British Pounds Sterling (GBP) and United States dollars (USD). In respect of the exposure in GBP used for bus purchases, the Group’s treasury team will enter into forward foreign exchange contracts in a strategic manner when appropriate. As at 31 December 2024, the Group had outstanding GBP forward contracts totalling GBP3.0 million (2023: GBP5.0 million), which had maturities of less than one year after the end of the reporting period. Shareholders’ Fund at 31 December HK$ million 15,000 9,000 12,000 3,000 6,000 0 2020 2021 2022 2023 2024 (Restated) (Note) (Restated) (Note) Dividends per Share HK$ 1.0 0.6 0.8 0.2 0.4 0 2020 2021 2022 2023 2024 Note: The relevant comparative amounts in 2021 and 2022 have been restated to reflect the change in accounting policies in respect to (i) the measurement of investment properties and investment property under development, and (ii) the abolition of the MPF-LSP offsetting mechanism.