Annual Report 2025

107 2025 Annual Report Transport International Holdings Limited The revenue and profit generated by the Group’s four Divisions for the year ended 31 December 2025 are shown below: Revenue Profit before taxation HK$ million 2025 2024 2025 2024 Franchised Public Bus Operations Division 8,053.3 7,849.3 513.8 281.0 Non-franchised Transport Operations Division 281.6 267.5 35.7 24.6 Property Holdings and Development Division 107.8 98.6 (59.7) 11.8 Chinese Mainland Transport Operations Division – – –* 0.6 8,442.7 8,215.4 489.8 318.0 Finance costs (61.3) (98.3) Unallocated net operating income 64.8 24.6 Profit before taxation 493.3 244.3 Income tax expense (95.3) (57.0) Profit for the year 398.0 187.3 * The amount represents amount less than HK$0.1 million. Segment information on the Group’s main businesses is set out in note 12 to the financial statements on pages 220 to 222 of this Annual Report. Key Changes to the Group’s Revenue, Other Net Income and Operating Expenses Total revenue for 2025 amounted to HK$8,442.7 million, an increase of HK$227.3 million or 2.8% compared with HK$8,215.4 million for 2024. The increase was mainly due to the increase in revenue of HK204.0 million and HK$14.1 million from the Group’s franchised public bus operations and non-franchised transport operations; and the increase in rental income arising from the Group’s investment properties of HK$9.2 million. Other net income increased by HK$23.4 million from HK$112.4 million in 2024 to HK$135.8 million in 2025, which included an expected credit losses of HK$86.5 million recognised on certain listed debt securities, compared to HK$171.0 million last year. The breakdown of other net income is set out in note 4 to the financial statements on page 213 of this Annual Report.