Table of Contents 1 240

Annual Report 2019

Cover	1
Inside Front Cover	2
Contents	3
Group Profile	4
Business at a Glance	6
Key Franchised Bus Network in Hong Kong	8
Financial and Operational Highlights	10
Corporate Milestones 2019	12
Chairman’s Letter	14
Managing Director’s Message	18
Management Discussion and Analysis	20
Business Review	21
The Group	21
Hong Kong Franchised Public Bus Operations	22
Hong Kong Non-franchised Transport Operations	32
China Mainland Transport Operations	36
Property Holdings and Development	38
Sustainability Report	40
Safety First	46
Care for Customers	52
Care for the Environment	56
Care for Employees	62
Engaging Stakeholders	70
Reporting Content Index Tables	76
Financial Review	82
The Group	82
Individual Business Units	89
Connected Transactions and Continuing Connected Transactions	93
Governance	96
Corporate Governance Report	96
Remuneration Report	114
Directors’ Profiles	118
Key Corporate Executives	125
Financial Reports	126
Directors’ Report	127
Independent Auditor’s Report	137
Consolidated Statement of Profit or Loss	142
Consolidated Statement of Profit or Loss and Other Comprehensive Income	143
Consolidated Statement of Financial Position	144
Consolidated Statement of Changes in Equity	146
Consolidated Cash Flow Statement	148
Notes to the Financial Statements	150
Financial Summary	238
Corporate Directory	239
Back Cover	240

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