AMS Public Transport : ESG Report

AMS PUBLIC TRANSPORT HOLDINGS LIMITED

進智公共交通控股有限公司

Incorporated in the Cayman Islands with limited liability

(Stock Code：77)

2022/23

A N N U A L R E P O R T

CONTENTS

• Company Information

• Corporate Profile

• Financial and Operating Highlights

• Chairman's Statement

• Management Discussion and Analysis

15 Environmental, Social and Governance Report

25 Corporate Governance Report

43 Directors and Senior Management Profile

46 Directors' Report

56 Independent Auditor's Report

1. Consolidated Income Statement
2. Consolidated Statement of Comprehensive Income
3. Consolidated Statement of Financial Position
4. Consolidated Statement of Changes in Equity
5. Consolidated Cash Flow Statement
6. Notes to the Consolidated Financial Statements

116 Group Financial Summary

COMPANY INFORMATION

Board of Directors

Mr. Wong Ling Sun, Vincent Chairman Ms. Ng Sui Chun

Mr. Chan Man Chun Chief Executive Officer Ms. Wong Wai Sum, Maya

Ms. Wong Wai Man, Vivian*

Dr. Chan Yuen Tak Fai, Dorothy** Mr. Kwong Ki Chi**

Mr. James Mathew Fong**

• Non-ExecutiveDirector

• Independent Non-Executive Directors

Authorised Representatives

Mr. Wong Ling Sun, Vincent

Mr. Chan Man Chun

Audit Committee

Mr. Kwong Ki Chi Chairman

Dr. Chan Yuen Tak Fai, Dorothy

Mr. James Mathew Fong

Nomination Committee

Dr. Chan Yuen Tak Fai, Dorothy Chairman

Mr. Kwong Ki Chi

Mr. James Mathew Fong

Remuneration Committee

Mr. James Mathew Fong Chairman

Dr. Chan Yuen Tak Fai, Dorothy

Mr. Kwong Ki Chi

Company Secretary

Ms. Wong Ka Yan

Registered Office

Cricket Square

Hutchins Drive

P.O. Box 2681

Grand Cayman KY1-1111

The Cayman Islands

Head office and principal place of business in Hong Kong

11th-12th Floor, Abba Commercial Building, 223 Aberdeen Main Road, Aberdeen, Hong Kong

Hong Kong share registrar and transfer office

Union Registrars Limited

Suites 3301-04, 33/F,

Two Chinachem Exchange Square,

338 King's Road,

North Point, Hong Kong

Principal Bankers

Bank of China (Hong Kong) Limited Hang Seng Bank Limited

The Hongkong and Shanghai Banking Corporation Limited

Auditors

Grant Thornton Hong Kong Limited

Certified Public Accountants

• AMS Public Transport Holdings Limited

CORPORATE PROFILE

AMS Public Transport Holdings Limited (the "Company") and its subsidiaries (collectively the "Group") are principally engaged in the operation of franchised public light bus ("PLB"), also commonly known as green minibus, and residents' bus transportation services in Hong Kong.

With over 48 years of experience in the local franchised PLB transportation sector, the Group is one of the leading franchised PLB operators in Hong Kong. Over the years, riding on its expertise, the Group continuously improves its routes and services and grows alongside with Hong Kong's transportation network development. Currently, the Group operates 72 franchised PLB routes with 354 PLBs and four residents' bus routes with seven public buses. To enhance sitting comfort for passengers, the Group's fleet is well-equipped with environmentally friendly PLBs and state-of-

the-art facilities. In January 2018, the Group launched the first lower-floor wheelchair accessible PLB in Hong Kong in order to facilitate the access of wheelchair users to PLB service. Since January 2019, the Group joins hands with AlipayHK to offer Hong Kong's first-ever mobile payment method for minibus. Passengers can pay minibus fares by their mobile phones.

The Group is committed to passenger safety in all aspects of its operations. Since 2011, the Group has been awarded the ISO 9001:2008 (and subsequently upgraded to ISO 9001: 2015 since 2017) quality management system certification for its computerised repair and maintenance centres, making it the first franchised PLB operator in the Hong Kong to gain such a prestigious quality accreditation.

Annual Report 2022/23

3

FINANCIAL AND OPERATING HIGHLIGHTS

			Year ended 31 March
Financial Highlights	Unit	2023	2022		Change
Financial results
Revenue	HK$'000	374,896	339,198	10.5%
Profit for the year excluding deficit on revaluation
of PLB licences and reversal of/provision for
impairment of public bus licences	HK$'000	59,595	515	11,471.8%
Deficit on revaluation of PLB licences charged to
consolidated income statement	HK$'000	20,460	18,150	12.7%
Profit/(Loss) attributable to equity holders of the
Company	HK$'000	39,285	(18,385)		N/A
Earnings/(Loss) per share	HK cents	14.45	(6.76)		N/A
Proposed final dividend per ordinary share1	HK cents	9.0	-		N/A
Proposed special dividend per ordinary share	HK cents	-	3.0	-100%
Profit margin (profit/(loss) attributable to equity
holders/revenue)			10.5%	-5.4%
Return on equity (profit/(loss) attributable to
equity holders/shareholders' equity)			51.0%	-40.2%
			As at 31 March
	Unit	2023	2022		Change
Financial position
Bank borrowings	HK$'000	129,014	152,091	15.2%
Shareholders' equity	HK$'000	76,967	45,839	67.9%
Current ratio (current assets/current liabilities)	Times	0.89	0.37
Gearing ratio (total bank borrowings less bank
balances and cash/shareholders' equity)			78.4%	252.4%

• AMS Public Transport Holdings Limited