Annual Report 2024

39 2024 Annual Report Transport International Holdings Limited Shenzhen Bus Group Company Limited ( 深圳巴士集團股份有限公司 ) (“SZBG”) SZBG is a Sino-foreign joint stock company formed by KMB (Shenzhen) Transport Investment Limited ( 九巴（深 圳）交通投資有限公司 ), a wholly-owned subsidiary of the Group, and four Mainland investors. The Group holds a 35% interest in SZBG which has been operating public bus and taxi services in Shenzhen since 2005. SZBG has a fleet of over 5,000 buses operating on more than 330 routes, along with more than 6,000 taxis. The patronage of both its bus and taxi operations decreased by 11%, from 460 million in 2023 to 408 million in 2024, owing to fierce competition from metro services, app-based taxi-hailing platforms and other transportation modes. SZBG took the lead in electrifying its bus fleet in 2017, becoming one of the largest public transport operators using new energy in the world. In addition, with ISO 9001 certification for the provision of bus transport services in Shenzhen, SZBG is dedicated to upgrading its services and maintaining its business edge. Beijing Beiqi Kowloon Taxi Company Limited ( 北京北汽九龍出租汽車股份有限公司 ) (“BBKT”) KMB (Beijing) Taxi Investment Limited ( 九巴（北京）出租汽 車投資有限公司 ), a wholly-owned subsidiary of the Group, holds a 31.38% equity interest in BBKT, the first Sino- foreign joint stock company to enter China Mainland’s taxi hire and car rental sector when it was established in 2003. BBKT operated both taxi hire and car rental businesses until April 2013. To sharpen its focus on the booming but challenging car rental market, it spun off its car rental business to another Sino-foreign joint stock company of the Group, Beijing Beiqi First Company Limited ( 北京北汽福斯特股份有 限公司 ). With a fleet of over 4,900 taxis, BBKT continues to prioritise service quality as it explores sustainable new business opportunities. Beijing Beiqi First Company Limited ( 北京北汽福斯特股份有限公司 ) (“BBF”) Established in April 2013 as a Sino-foreign joint stock company with the same shareholding structure as BBKT, BBF operates the car rental business formerly undertaken by BBKT. BBF has more than 1,000 vehicles available for charter, primarily serving Beijing ( 北京 ) and Tianjin ( 天津 ). In respect of the provision of car rental services, BBF is well positioned to capitalise on the business opportunities presented by business commuters as well as by the wide variety of events, conferences and exhibitions held in the capital. BBKT continues to provide excellent, high-quality taxi services for locals and visitors in Beijing SZBG has fully adopted a fleet of new energy buses