Annual Report 2025

136 Transport International Holdings Limited 2025 Annual Report CORPORATE GOVERNANCE REPORT Delegation of Responsibilities to Senior Management Senior Management is responsible for implementing the Group’s strategies and managing its day-to-day operations under the ongoing supervision of the Board and the relevant Board Committees. Drawing upon the extensive experience and expertise in different areas of each member, Senior Management provides the Board with accurate, adequate and detailed financial and operational information in a timely manner, keeping Directors informed of the latest developments of the Group and enabling them to make informed decisions and discharge their responsibilities effectively. The Role of Company Secretary The post of Company Secretary is held by Mr YU Wai Cheung, a Certified Public Accountant of The Hong Kong Institute of Certified Public Accountants throughout 2025. He is responsible for ensuring that the correct Board procedures are followed, advising the Board on all corporate governance matters and facilitating the induction and continuous professional development of Directors. The Company Secretary reports to the Managing Director of the Company, and all Directors may call upon him for advice and assistance at any time in respect of their duties and the effective operation of the Board and Board Committees. In 2025, the Company Secretary completed over 15 hours of professional training to update his skills and knowledge. Accountability and Audit Financial Reporting The Board is responsible for the preparation of the Group’s financial statements. It ensures that a true and fair view of the Group’s financial position is presented in accordance with the Hong Kong Financial Reporting Standards (“HKFRS”) issued by the HKICPA and the disclosure requirements of the Companies Ordinance (Cap. 622 of the Laws of Hong Kong). This responsibility extends to the accuracy and sufficiency of the content of interim and annual reports, “price-sensitive” announcements and other financial disclosures required by the Listing Rules, as well as reports to regulators and any information that needs to be disclosed under statutory requirements. The financial statements of the Company and the Group for the year ended 31 December 2025 on pages 186 to 262 of this Annual Report present a true and fair view of the state of affairs of the Company and the Group, as well as their results and cash flow for the year. The Audit and Risk Management Committee of the Company, together with Senior Management and the external auditors, have reviewed the accounting principles and policies adopted by the Group, discussed auditing, internal control and financial reporting matters, and reviewed the financial results for the year ended 31 December 2025. Risk Management and Internal Control Systems The Board has the overall responsibility for establishing and maintaining the Group’s risk management and internal control systems and reviewing their effectiveness. It is duty-bound to safeguard the Group’s assets and stakeholders’ interests, manage the Group’s existing and anticipated risks (including environmental, social and governance (“ESG”) risks) and provide reasonable assurance against material misstatement of information (whether financial or non-financial). Stringent internal control measures are implemented at all levels of the Group in order to ensure effective monitoring of its day-to-day operations. The Audit and Risk Management Committee is delegated responsibility by the Board for maintaining and reviewing the effectiveness of the risk management and internal control systems, and for determining the nature and extent of any significant risks. With the assistance of the external auditors and the Internal Audit Department, the Audit and Risk Management Committee provides sound assurance regarding the quality and effectiveness of the control practices.