Table of Contents 1 246

Annual Report 2020

Cover	1
Inside Front Cover	3
Contents	4
Group Profile	5
Business at a Glance	7
Key Franchised Bus Network in Hong Kong	9
Financial and Operational Highlights	11
Corporate Milestones 2020	13
Chairman’s Letter	15
Managing Director’s Message	19
Management Discussion and Analysis	21
Business Review	21
Hong Kong Franchised Public Bus Operations	23
Hong Kong Non-franchised Transport Operations	35
China Mainland Transport Operations	39
Property Holdings and Development	41
Sustainability Report	43
Safety First	51
Care for Customers	63
Care for the Environment	69
Care for Employees	75
Engaging Stakeholders	83
Reporting Content Index Tables	91
Financial Review	97
The Group	97
Individual Business Units	104
Connected Transactions and Continuing Connected Transactions	109
Governance	113
Corporate Governance Report	113
Remuneration Report	135
Directors’ Profiles	139
Key Corporate Executives	146
Financial Reports	147
Directors’ Report	148
Independent Auditor’s Report	158
Consolidated Statement of Profit or Loss	163
Consolidated Statement of Profit or Loss and Other Comprehensive Income	164
Consolidated Statement of Financial Position	165
Consolidated Statement of Changes in Equity	167
Consolidated Cash Flow Statement	169
Notes to the Financial Statements	170
Financial Summary	243
Corporate Directory	244
Back Cover	246
Blank Page	2
Blank Page	245

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