Annual Report 2024

236 2024 Annual Report Transport International Holdings Limited NOTES TO THE FINANCIAL STATEMENTS (Expressed in Hong Kong dollars unless otherwise indicated) 18 Interest in associates (continued) The following list contains the particulars of the material associate, which is an unlisted corporate entity whose quoted market price is not available: Percentage of ownership interest Name of associate Form of business structure Place of establishment and business Particulars of registered and paid-up capital Group’s effective interest Held by subsidiaries Principal activity Shenzhen Bus Group Company Limited Sino-foreign joint stock company Mainland China RMB951,430,306 35 35 Provision of bus and taxi hire services (note) Note: Shenzhen Bus Group Company Limited, a transportation operator in the Mainland China, enables the Group to penetrate into this market through local expertise. Summarised financial information of the material associate, adjusted for any differences in accounting policies, and reconciled to the carrying amounts in the consolidated financial statements, are disclosed below: Shenzhen Bus Group Company Limited 2024 2023 $’000 $’000 Gross amounts of the associate Current assets 4,671,546 4,556,169 Non-current assets 5,035,946 5,780,034 Current liabilities 4,799,975 4,078,671 Non-current liabilities 3,591,586 4,862,066 Total equity 1,315,931 1,395,466 Non-controlling interest (26,477) (4,340) Revenue 1,895,380 1,730,770 (Loss)/profit for the year (1,346) 88,648 Other comprehensive income (47,554) 1,560 Total comprehensive income (48,900) 90,208 Dividend received from the associate 2,199 3,390 Reconciled to the Group’s interest in the associate Gross amounts of net assets of the associate attributable to equity shareholders 1,289,454 1,391,126 Group’s effective interest 35% 35% Group’s share of net assets of the associate 451,309 486,894 Goodwill 57,309 59,339 Carrying amount in the consolidated financial statements 508,618 546,233 Aggregate information of associates that are not individually material: 2024 2023 $’000 $’000 Aggregate carrying amount of individually immaterial associates in the consolidated financial statements 61,042 62,914 Aggregate amounts of the Group’s share of those associates Profit for the year, net 1,108 111 Total comprehensive income 1,108 111