At the 2026 Annual General Meeting of Transport International Holdings Limited (“TIH”) held today (14 May 2026), the Group’s Chairman, Dr. Norman Leung Nai Pang, reported the financial results for 2025. For the year ended 31 December 2025, the Group’s underlying profit attributable to equity shareholders excluding the effect of the change in fair value of investment properties and investment property under development, amounted to HK$539.8 million, compared to HK$265.5 million in 2024. Underlying earnings per share was HK$1.04, compared to HK$0.53 in 2024. The increase in underlying profit was mainly attributable to the improvement in the financial performance of the franchised public bus operations.
The Board of Directors has proposed an ordinary final dividend of HK$0.50 per share for 2025. The dividend will be payable on 29 June 2026. The total dividend for the year will amount to HK$0.80 per share, whereas the total dividend amounted to HK$0.50 per share in 2024. In addition, the Group will provide shareholders with a scrip dividend option for the final dividend. For details, please refer to the circular announced by the Group.
In 2025, The Kowloon Motor Bus Company (1933) Limited (“KMB”) recorded a profit after taxation of HK$360.7 million (2024: HK$126.8 million). As for Long Win Bus Company Limited (“LWB”), the profit after taxation was HK$46.4 million (2024: HK$41.7 million).
The Group’s non-franchised Transport Operations Division, with Sun Bus Limited as its flagship company, recorded a profit after taxation of HK$29.7 million (2024: HK$20.6 million).
The Group’s Property Holdings and Development Division reported a profit after taxation of HK$42.5 million (excluding the effect of the change in fair value of investment properties and investment property under development) for 2025, compared to the profit after taxation of HK$60.1 million (excluding the effect of the change in fair value of investment properties and investment property under development) for 2024. Our Chinese Mainland Transport Operations Division reported similar positive results for 2025 compared to 2024.
Last year, the Group continued to operate in a challenging environment. Shifts in travel patterns and demographics, and the ongoing expansion of the railway network have exerted pressure on the Group’s core franchised bus business. Committed to serving the community, the Group has proactively aligned with Hong Kong’s development needs, captured emerging transport service opportunities, and developed sustainable revenue streams to underpin steady growth.
Tourism is a vital pillar of Hong Kong’s economy. Last year saw a significant increase in visitor arrivals. KMB launched the new “KMB Tour HK” brand and introduced the deployment of Open-top buses on the sightseeing Route HK1. The route traverses multiple significant tourist attractions, including the West Kowloon Cultural District, Nathan Road, Wong Tai Sin Temple, offering visitors a fresh perspective of Hong Kong. The route has remained popular since its launch, with sustained growth in patronage contributing to business development. Meanwhile, the completion of various major infrastructures and new development areas, such as Kai Tak Sports Park, Central Kowloon Bypass, several new residential developments along Anderson Road and the first light public housing at Yau Pok Road, has created new transport demand. The Group has proactively invested to capitalise on these opportunities, delivering quality bus services and strengthening its presence in the public transport sector
TIH has strengthened its transport provision for boundary control points. With the increasing number of passengers crossing via the Hong Kong-Zhuhai-Macao Bridge, all LWB A-routes now directly serve the Hong Kong Port of the Bridge. Together with KMB’s routes serving the Lok Ma Chau Control Point and Heung Yuen Wai Control Point, and the interchange fare concession with other routes, residents and travellers can enjoy a convenient and well?connected network. With High Speed Rail travel to Chinese Mainland cities gaining popularity, KMB has strengthened services on routes connecting to the High Speed Rail Station. These initiatives have contributed as key growth drivers for the Group’s franchised bus operations.
The Group remains committed to advancing green mobility, with its new energy electric bus fleet which is the largest of its kind in Hong Kong, the fleet continues to be deployed across more than 50 KMB routes, cumulatively travelled nearly 8 million kilometres, resulting in a reduction of over 10,000 tonnes of carbon emissions, and contributing to the city’s carbon neutrality targets.
The Group continues to demonstrate its commitment to the community by donating retired buses and caring bus stops to schools and elderly homes, supporting youth development and elderly services. During the year, it also donated proceeds generated from its Pet Bus Tour to animal welfare organisations and collaborated on initiatives to promote animal welfare and encourage a pet?friendly culture.
Fuel constitutes a substantial portion of bus operating costs. Despite the Group’s prudent financial discipline and the implementation of stringent cost control measures, the recent surge in global oil prices driven by international conflicts, has exerted pressure on the Group’s operating results. The Government’s relief measures introduced earlier to address fuel price volatility have provided temporary relief.
Dr. Leung concluded, “The Group will continue to monitor fuel price trends and maintain close communication with the Government, while implementing appropriate measures to ensure the financial stability of our franchised bus operations. Looking ahead, we will actively engage with the Government to explore effective mechanisms to ensure business sustainability and long?term development. The Group remains steadfast in its commitment to serving passengers with dedication, providing safe, reliable and high-quality transport that contributes to the community’s development. I would like to express my sincere gratitude to my fellow Board members, our shareholders, all employees and passengers”.
