股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 進智公共交通控股有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00077 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | HKD | | 0.1 HKD | | 100,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 1,000,000,000 | HKD | | 0.1 HKD | | 100,000,000 | 本月底法定/註冊股本總額： HKD 100,000, ...

AMS PUBLIC TRANSPORT HOLDINGS LIMITED 進智公共交通控股有限公司 於開曼群島註冊成立之有限公司 與你同路50載 2024/25 年度報告書 目錄 2 公司資料 3 財務及業務摘要 5 主席報告 7 管理層討論及分析 14 環境、社會及管治報告 25 企業管治報告 43 董事及高級管理人員概況 46 董事會報告 56 獨立核數師報告 61 綜合收益表 62 綜合全面收益表 63 綜合財務狀況表 64 綜合權益變動表 65 綜合現金流量表 66 綜合財務報表附註 116 集團財務概要 2024/25 年報 1 作為值得信賴的運輸服務供應商，本集團一直致力於為香港提供高效、可靠及安全的客運服務，並將繼續優先考慮乘客需 求，努力提供無縫順滑和愉快享受的出行體驗，致力於成為香港通勤者的首選。 董事會 黃靈新先生 主席 伍瑞珍女士 陳文俊先生 行政總裁 黃慧芯女士 黃蔚敏女士* 陳阮德徽教授** 鄺其志先生** 方文傑先生** 公司資料 進智公共交通控股有限公司（「本公司」）及其附屬公司（統稱「本集團」）的主要業務為在香港經營專線公共小巴（一般亦稱為綠 色小巴）及居民巴士客運服務。 5 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其準確性及完整性亦不 發表任何聲明，並明確表示，概不對因本公佈全部或任何部份內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 AMS PUBLIC TRANSPORT HOLDINGS LIMITED 進智公共交通控股有限公司 ( 於開曼群島註冊成立之有限公司 ) (股份代號: 77) 截至二零二五年三月三十一日止年度 五年三月三十一日止年度 全年業績公佈 進智公共交通控股有限公司（「本公司」）董事會（「董事會」）欣然宣佈本公司及其附屬公司（統稱「本 集團」）截至二零二五年三月三十一日止年度之綜合業績，連同截至二零二四年三月三十一日止年度之比較 數字如下： 綜合收益表 | | | 截至三月三十一日止年度 | | | --- | --- | --- | --- | | | 附註 | 二零二五年 | 二零二四年 | | | | 千港元 | 千港元 | | 收益 | 4 | 415,029 | 393,686 | | 直接成本 | | (338,570) | (323,036) | | 毛利 | | 76,459 | 70,650 ...

Financial Performance - For the six months ended September 30, 2024, the company reported revenue of HKD 201,360,000, an increase of 3.9% from HKD 194,597,000 in the same period of 2023[6] - The gross profit for the same period was HKD 34,899,000, representing a gross margin of approximately 17.3% compared to 16.7% in the previous year[6] - The operating profit increased to HKD 18,097,000, up from HKD 16,681,000, reflecting a growth of 8.5% year-on-year[6] - The net profit attributable to equity holders for the period was HKD 6,909,000, a significant recovery from a loss of HKD 12,695,000 in the prior year[6] - The company reported a total comprehensive income of HKD 7,062,000 for the period, compared to a loss of HKD 12,695,000 in the same period last year[8] - Basic earnings per share for the six months ended September 30, 2024, were HKD 6,909,000, compared to a loss of HKD 12,695,000 in 2023, marking a significant turnaround[42] Revenue Sources - For the six months ended September 30, 2024, the total revenue from the group's public minibus and resident bus services was HKD 201,360,000, representing an increase of 3.9% from HKD 194,597,000 in the same period of 2023[27] - The revenue from public minibus services was HKD 198,007,000, up from HKD 191,562,000, indicating a growth of 3.8%[27] - Revenue increased by 3.5% to HKD 201,360,000, driven by a 0.6% rise in passenger volume and fare increases on 56 routes ranging from 4.8% to 14.3%[82] - The total number of passengers for the company's public minibus service increased to approximately 27,684,000, up from 27,528,000 in the previous year[78] Cash Flow and Investments - The net cash inflow from operating activities for the six months ended September 30, 2024, was HKD 53,940,000, slightly down from HKD 54,155,000 in the previous year[16] - The net cash outflow from investing activities was HKD 1,247,000, compared to an inflow of HKD 9,968,000 in the same period last year[16] - The total capital expenditure for the period was HKD (2,128,000), an increase from HKD (1,271,000) in the previous year[16] - The group's total capital expenditure for the period was HKD 2,805,000, an increase from HKD 1,939,000 in the previous year, primarily for the purchase of two new minibuses[105] Assets and Liabilities - As of September 30, 2024, total assets amounted to HKD 209,558,000, a decrease from HKD 248,443,000 as of March 31, 2024[12] - The company's total liabilities were HKD 174,373,000, down from HKD 209,443,000, indicating a reduction in financial obligations[12] - The net asset value decreased to HKD 35,185,000 from HKD 39,000,000, reflecting a decline in equity[12] - As of September 30, 2024, the current liabilities net amount was HKD 40,959,000, with a current ratio of 0.62[96] Dividends and Shareholder Information - The company declared a special dividend of HKD 10,877,000 during the period, impacting the retained earnings[13] - The company declared a special dividend of HKD 4.0 cents per ordinary share for the six months ended September 30, 2024, totaling HKD 10,877,000, compared to no special dividend in the same period of 2023[41] - The major shareholders include HSBC International Trust with 132,527,000 shares (48.73%) and JETSUN with 117,677,000 shares (43.27%) [122] Operational Efficiency and Challenges - The company continues to focus on enhancing operational efficiency and exploring market expansion opportunities in the public transport sector[6] - The group faced challenges from rising operational costs, particularly fuel and labor expenses, which may necessitate future fare adjustments[109] - The company anticipates the arrival of a second batch of imported mainland drivers in the second half of the fiscal year to alleviate labor shortages and enhance operational capacity[108] Employee and Administrative Expenses - Employee benefits expenses, including directors' remuneration, increased to HKD 100,077,000 for the six months ended September 30, 2024, compared to HKD 97,289,000 in 2023, reflecting a rise of about 2.8%[36] - Administrative expenses rose by 2.9% to HKD 20,389,000, reflecting ongoing operational costs[82] - The group employed 1,186 staff as of September 30, 2024, a slight increase from 1,183 on March 31, 2024[105] Governance and Compliance - The audit committee reviewed the unaudited interim financial information and provided recommendations to the board on November 29, 2024 [127] - The company has complied with the corporate governance code throughout the six months ending September 30, 2024 [126] - The company has maintained a strong governance framework, ensuring compliance with relevant regulations [126]

Financial Performance - For the six months ended September 30, 2024, the company reported revenue of HKD 201,360,000, an increase of 3.9% compared to HKD 194,597,000 for the same period in 2023[4] - Gross profit for the same period was HKD 34,899,000, up from HKD 32,604,000, reflecting a gross margin improvement[4] - Operating profit increased to HKD 18,097,000 from HKD 16,681,000, indicating a growth of 8.5% year-over-year[4] - The company recorded a profit attributable to equity holders of HKD 6,909,000, a significant recovery from a loss of HKD 12,695,000 in the previous year[4] - Basic and diluted earnings per share for the period were HKD 2.54, compared to a loss per share of HKD 4.67 in the same period last year[4] - The total income tax expense for the six months ended September 30, 2024, was HKD 1,821,000, a slight decrease from HKD 1,917,000 in 2023[23] - Basic earnings per share for the period were HKD 0.0254, compared to a loss of HKD 0.0467 in the same period of 2023[27] - The company reported a profit of HKD 6,909,000 for the six months ended September 30, 2024, a significant improvement from a loss of HKD 12,695,000 in the same period last year[40] Assets and Liabilities - Total assets as of September 30, 2024, were HKD 250,517,000, down from HKD 287,820,000 as of March 31, 2024[7] - Non-current assets decreased to HKD 122,800,000 from HKD 153,552,000, primarily due to depreciation and amortization[7] - Current liabilities increased to HKD 107,242,000 from HKD 105,018,000, reflecting a slight rise in operational obligations[7] - The company’s net asset value decreased to HKD 35,185,000 from HKD 39,000,000, indicating a decline in overall equity[7] - The company’s accounts receivable totaled HKD 2,220,000 as of September 30, 2024, down from HKD 4,433,000 as of March 31, 2024[34] - The company’s accounts payable amounted to HKD 22,127,000 as of September 30, 2024, compared to HKD 21,159,000 as of March 31, 2024[38] - The net current liabilities as of September 30, 2024, were HKD 40,959,000, compared to HKD 39,377,000 as of March 31, 2024, with a current ratio of 0.62[55] Revenue Sources - The group's revenue from public minibus and resident bus services in Hong Kong for the six months ended September 30, 2024, was HKD 201,360,000, an increase of 3.9% from HKD 194,597,000 in the same period of 2023[16] - Advertising revenue remained stable at HKD 2,250,000 for both periods, while interest income decreased to HKD 816,000 from HKD 1,014,000[17] - The company approved fare increases for 56 routes, ranging from 4.8% to 14.3%, contributing to the revenue growth[44] Costs and Expenses - The financing costs for the six months ended September 30, 2024, totaled HKD 5,407,000, up from HKD 2,379,000 in 2023, primarily due to an increase in lease liabilities[20] - The direct fuel costs increased to HKD 33,841,000 from HKD 31,380,000, and employee benefits expenses rose to HKD 100,077,000 from HKD 97,289,000[21] - Direct costs increased by HKD 4,468,000 or 2.8% to HKD 166,461,000, with labor costs, depreciation of right-of-use assets, fuel costs, and maintenance costs accounting for over 90% of total direct costs[45] - Administrative expenses increased by HKD 580,000 or 2.9% to HKD 20,389,000, mainly due to costs associated with recruiting drivers from mainland China[47] - Employee benefits expenses for the period amounted to HKD 100,077,000, representing 51.4% of total operating costs, slightly down from 52.0% in the previous year[70] Operational Highlights - The total passenger volume for the company's public minibus service increased by approximately 0.6% to about 27,684,000 passengers, compared to 27,528,000 passengers in the previous year[41] - The total mileage driven during the period was approximately 16.6 million kilometers, an increase of 0.6% from 16.5 million kilometers in the previous period[41] - As of September 30, 2024, the company maintained a fleet size of 354 public minibuses, with the number of routes increasing to 73[42] - The group faced challenges related to driver turnover and aging workforce, which limited its ability to increase service frequency[41] - The group faced challenges from unstable fuel prices and an aging workforce, with plans to recruit and train new drivers to address labor shortages[72] - Passenger volume increased by 0.6% during the review period, indicating stable demand, although weekend and public holiday traffic saw a significant decline[72] Governance and Future Outlook - The board of directors did not recommend any interim dividend for the six months ended September 30, 2024, compared to a final dividend of HKD 24,472,000 in 2023[25] - The group expects to adopt new and revised Hong Kong Financial Reporting Standards starting from April 1, 2024, with no significant impact anticipated on the interim financial information[14] - The group has no significant contingent liabilities as of September 30, 2024[67] - There were no major acquisitions or disposals of subsidiaries, associates, or joint ventures during the six months ended September 30, 2024[69] - The group has not implemented any hedging policies for anticipated fuel consumption due to the conclusion that such contracts may not be effective in managing fuel price risks[65] - The group continues to advocate for the importance of minibuses in areas lacking railway services, especially in light of the government's transportation policies prioritizing railways[73] - The company will release detailed interim results and reports for the six-month period ending September 30, 2024, in accordance with listing rules[78] - The board of directors as of the announcement date includes executive and non-executive members, indicating a stable governance structure[80]

AMS PUBLIC TRANSPORT HOLDINGS LIMITED 進智公共交通控股有限公司 於開曼群島註冊成立之有限公司 年度報告書 56 獨立核數師報告 61 綜合收益表 62 綜合全面收益表 63 綜合財務狀況表 64 綜合權益變動表 65 綜合現金流量表 66 綜合財務報表附註 120 集團財務概要 公司資料 進智公共交通控股有限公司（「本公司」）及其附屬公司（統稱「本集團」）的主要業務為在香港經營專線公共小巴（「公共小巴」） （一般亦稱為綠色小巴）及居民巴士客運服務。 50年來，憑藉專業知識，本集團在香港交通網絡發展中發揮了不可或缺的作用，並繼續為我港的交通基礎設施作出貢獻。 目前，本集團營運一個廣泛的網絡，包括73條專線公共小巴路線，共354輛公共小巴。其亦經營四條居民巴士路線，共有七 輛公共巴士。本集團繼續致力優化其路線及服務，以滿足乘客不斷變化的需求，並與城市的交通需求保持同步。乘客的舒適 和便利對本集團的運營至關重要。其車隊由配備最先進設施的環保公共小巴組成。 安全仍然是本集團所有業務的重中之重。本集團之質量管理的承諾獲得認可，自二零一一年起，本集團電腦化維修保養中心 已獲得ISO ...

Company Information and Performance Overview Overview of the company's basic information and key financial performance for the year ended March 31, 2024 [Company Basic Information](index=1&type=section&id=1.1%20Company%20Basic%20Information) AMS Public Transport Holdings Limited (Stock Code: 77) announced its annual results for the year ended March 31, 2024 - Company Name: **AMS PUBLIC TRANSPORT HOLDINGS LIMITED** (AMS Public Transport Holdings Limited)[40](index=40&type=chunk)[41](index=41&type=chunk) - Stock Code: **77**[41](index=41&type=chunk) [Consolidated Statement of Profit or Loss](index=1&type=section&id=1.2%20Consolidated%20Statement%20of%20Profit%20or%20Loss) For the year ended March 31, 2024, the company turned from profit to loss, recording a net loss of HK$11,952 thousand, primarily due to increased public light bus licence revaluation deficit and reduced one-off government subsidies Key Data from Consolidated Statement of Profit or Loss | Metric | 2024 (HK$ thousand) | 2023 (HK$ thousand) | | :--- | :--- | :--- | | Revenue | 393,686 | 374,896 | | Gross Profit | 70,650 | 53,310 | | Operating Profit | 37,311 | 67,441 | | (Loss)/Profit Before Income Tax | (7,788) | 41,747 | | (Loss)/Profit for the Year | (11,952) | 39,285 | - Public light bus licence revaluation deficit increased from **HK$20,460 thousand** in 2023 to **HK$34,980 thousand** in 2024[41](index=41&type=chunk) - Finance costs increased from **HK$5,384 thousand** in 2023 to **HK$8,769 thousand** in 2024[41](index=41&type=chunk) [Consolidated Statement of Comprehensive Income](index=2&type=section&id=1.3%20Consolidated%20Statement%20of%20Comprehensive%20Income) The company recorded a total comprehensive expense of HK$13,495 thousand in FY2024, mainly due to the loss for the year and remeasurement of long service payment provision Key Data from Consolidated Statement of Comprehensive Income | Metric | 2024 (HK$ thousand) | 2023 (HK$ thousand) | | :--- | :--- | :--- | | (Loss)/Profit for the Year | (11,952) | 39,285 | | Remeasurement of long service payment provision | (1,543) | - | | Total Comprehensive (Expense)/Income for the Year | (13,495) | 39,285 | [Consolidated Statement of Financial Position](index=2&type=section&id=1.4%20Consolidated%20Statement%20of%20Financial%20Position) As of March 31, 2024, the company's net assets significantly decreased by 49.3% to HK$39,000 thousand, primarily due to a decline in public light bus licence revaluation and increased lease liabilities Key Data from Consolidated Statement of Financial Position | Metric | 2024 (HK$ thousand) | 2023 (HK$ thousand) | | :--- | :--- | :--- | | Non-current Assets | 287,820 | 207,441 | | Current Assets | 65,641 | 75,297 | | Current Liabilities | 105,018 | 84,581 | | Non-current Liabilities | 209,443 | 121,190 | | Net Assets | 39,000 | 76,967 | | Total Equity | 39,000 | 76,967 | - Public light bus licence value decreased from **HK$91,080 thousand** in 2023 to **HK$56,100 thousand** in 2024[11](index=11&type=chunk) - Right-of-use assets significantly increased from **HK$31,718 thousand** in 2023 to **HK$153,552 thousand** in 2024[11](index=11&type=chunk) - Lease liabilities (non-current) increased from **HK$0 thousand** in 2023 to **HK$95,298 thousand** in 2024[11](index=11&type=chunk) Notes to the Financial Statements This section provides detailed notes on the basis of preparation, accounting policies, and specific financial item analyses for the consolidated financial statements [Basis of Preparation and Accounting Policies](index=3&type=section&id=2.1%20Basis%20of%20Preparation%20and%20Accounting%20Policies) The consolidated financial statements are prepared in accordance with HKFRS and the Hong Kong Companies Ordinance, using a historical cost basis, except for public light bus licences which are stated at fair value - Financial statements are prepared in accordance with **Hong Kong Financial Reporting Standards (HKFRS)**[18](index=18&type=chunk) - Adopted historical cost basis, except for public light bus licences which are stated at **fair value**[19](index=19&type=chunk) [Changes in Accounting Policies](index=3&type=section&id=2.2%20Changes%20in%20Accounting%20Policies) This year, the company first applied revised HKFRS issued by the HKICPA, including new guidance on the MPF-long service payment offset mechanism, with no significant impact on the Group's results or financial position - Adopted revised HKFRS and new guidance, including the accounting impact of the **MPF - long service payment offset mechanism** from the HKICPA[20](index=20&type=chunk)[22](index=22&type=chunk) - Changes in accounting policies had **no significant impact** on the Group's results and financial position for the current and prior periods[20](index=20&type=chunk)[23](index=23&type=chunk) [Segment Information](index=4&type=section&id=2.3%20Segment%20Information) The company's executive directors consider scheduled public light bus and resident's bus services as the sole operating segment, with all revenue and non-current assets derived from Hong Kong - The Group's sole operating segment is **scheduled public light bus and resident's bus services**[24](index=24&type=chunk) - All revenue and non-current assets are derived from and located in **Hong Kong**[24](index=24&type=chunk) - No single customer accounted for **more than 10%** of the Group's revenue[25](index=25&type=chunk) [Revenue](index=4&type=section&id=2.4%20Revenue) Total revenue for the year increased by 5.0% year-on-year to HK$393,686 thousand, primarily contributed by scheduled public light bus service income - The Group primarily engages in providing **scheduled public light bus and resident's bus services** in Hong Kong[26](index=26&type=chunk) Revenue Composition | Service Type | 2024 (HK$ thousand) | 2023 (HK$ thousand) | | :--- | :--- | :--- | | Scheduled Public Light Bus service income | 387,379 | 366,041 | | Resident's Bus service income | 6,307 | 5,291 | | Designated Bus Fleet service income | - | 3,564 | | **Total** | **393,686** | **374,896** | [Other Income and Other Net (Expenses)/Income](index=5&type=section&id=2.5%20Other%20Income%20and%20Other%20Net%20(Expenses)%2FIncome) Other income and other net (expenses)/income for the year significantly decreased by 82.7% to HK$9,399 thousand, mainly due to the absence of one-off government Anti-epidemic Fund subsidies received in the prior year Other Income and Other Net (Expenses)/Income | Item | 2024 (HK$ thousand) | 2023 (HK$ thousand) | | :--- | :--- | :--- | | Advertising income | 4,500 | 4,500 | | Administrative fee income | 2,419 | 2,419 | | Government grants | - | 847 | | Interest income | 1,892 | 669 | | Property rental income | 270 | 270 | | Management fee income | 196 | 190 | | Repair and maintenance service income | 224 | 139 | | **Total Other Income** | **9,501** | **9,034** | | Government subsidies (Anti-epidemic Fund) | - | 45,406 | | Loss on disposal of property, plant and equipment | (134) | (55) | | Miscellaneous income | 32 | 41 | | **Total Other Net (Expenses)/Income** | **(102)** | **45,392** | - Government Anti-epidemic Fund subsidies of **HK$45,406 thousand** were received in 2023, with **no such income** in 2024[30](index=30&type=chunk) [Finance Costs](index=5&type=section&id=2.6%20Finance%20Costs) Total finance costs for the year significantly increased by 62.9% year-on-year to HK$8,769 thousand, primarily due to increased interest expense on bank borrowings and finance charges on lease liabilities Finance Costs Details | Item | 2024 (HK$ thousand) | 2023 (HK$ thousand) | | :--- | :--- | :--- | | Interest expense on bank borrowings | 4,256 | 3,444 | | Finance charges on lease liabilities | 4,513 | 1,940 | | **Total** | **8,769** | **5,384** | [Loss)/Profit Before Income Tax](index=6&type=section&id=2.7%20(Loss)%2FProfit%20Before%20Income%20Tax) This year, a loss before income tax of HK$7,788 thousand was recorded, compared to a profit of HK$41,747 thousand last year, mainly due to decreased fuel costs but increased depreciation, auditor's remuneration, and loss on disposal of property Composition of (Loss)/Profit Before Income Tax | Item | 2024 (HK$ thousand) | 2023 (HK$ thousand) | | :--- | :--- | :--- | | Fuel costs under direct costs | 62,446 | 68,456 | | Short-term lease expenses | 221 | 270 | | Depreciation of right-of-use assets | 63,702 | 63,784 | | Depreciation of property, plant and equipment | 6,788 | 6,644 | | Depreciation of investment properties | 36 | 29 | | Auditor's remuneration - audit services | 609 | 580 | | Auditor's remuneration - non-audit services | 93 | 88 | | Loss on disposal of property, plant and equipment | 134 | 55 | [Income Tax Expense](index=6&type=section&id=2.8%20Income%20Tax%20Expense) Income tax expense for the year increased to HK$4,164 thousand, with the Hong Kong Profits Tax rate maintained at 16.5%, but a two-tiered tax rate of 8.25% applied to certain profits - Hong Kong Profits Tax rate remained at **16.5%**, with the first **HK$2,000,000** of assessable profits for eligible entities taxed at **8.25%**[4](index=4&type=chunk) Income Tax Expense Details | Item | 2024 (HK$ thousand) | 2023 (HK$ thousand) | | :--- | :--- | :--- | | Current tax - Hong Kong Profits Tax (current year) | 2,228 | 787 | | Current tax - Hong Kong Profits Tax (underprovision in prior years) | 4 | - | | Deferred tax (current year) | 1,932 | 1,675 | | **Total Income Tax Expense** | **4,164** | **2,462** | [Loss)/Earnings Per Share](index=6&type=section&id=2.9%20(Loss)%2FEarnings%20Per%20Share) Basic and diluted loss per share for the year were both 4.40 HK cents, compared to earnings per share of 14.45 HK cents last year, primarily due to the loss attributable to equity holders of the company (Loss)/Earnings Per Share | Metric | 2024 (HK cents) | 2023 (HK cents) | | :--- | :--- | :--- | | Basic (loss)/earnings per share | (4.40) | 14.45 | | Diluted (loss)/earnings per share | (4.40) | 14.45 | - Basic (loss)/earnings per share is calculated based on a loss attributable to equity holders of the company of **HK$11,952 thousand** (2023: profit of HK$39,285 thousand) and a weighted average of **271,913 thousand** ordinary shares in issue[6](index=6&type=chunk) - Diluted loss per share for the year is **the same as basic loss per share**, as potential shares had an anti-dilutive effect and were not included[7](index=7&type=chunk) [Public Light Bus Licences](index=7&type=section&id=2.10%20Public%20Light%20Bus%20Licences) Public light bus licences are considered to have an indefinite useful life, with a revaluation deficit of HK$34,980 thousand this year, leading to a year-end carrying amount of HK$56,100 thousand - Public light bus licences are considered to have an **indefinite useful life**[9](index=9&type=chunk) Public Light Bus Licences Revaluation | Item | 2024 (HK$ thousand) | 2023 (HK$ thousand) | | :--- | :--- | :--- | | At beginning of year | 91,080 | 111,540 | | Revaluation deficit charged to consolidated statement of profit or loss | (34,980) | (20,460) | | At end of year | 56,100 | 91,080 | - The fair value of public light bus licences is determined using the **market approach** by reference to recent average market quotations from various market dealers and revalued by an **independent qualified valuer**[34](index=34&type=chunk) [Trade and Other Receivables](index=8&type=section&id=2.11%20Trade%20and%20Other%20Receivables) As of March 31, 2024, total trade and other receivables increased to HK$8,570 thousand, primarily driven by an increase in net trade receivables and prepayments Trade and Other Receivables Details | Item | 2024 (HK$ thousand) | 2023 (HK$ thousand) | | :--- | :--- | :--- | | Trade receivables - net | 4,433 | 1,792 | | Other receivables - net | 839 | 2,047 | | Deposits | 476 | 458 | | Prepayments | 2,822 | 2,270 | | **Total** | **8,570** | **6,567** | - The Group's majority of revenue is collected in **cash** or through **Octopus Card Limited or AlipayHK**, with credit terms ranging from **0 to 30 days**[36](index=36&type=chunk) Ageing Analysis of Trade Receivables | Ageing | 2024 (HK$ thousand) | 2023 (HK$ thousand) | | :--- | :--- | :--- | | 0 to 30 days | 4,207 | 1,504 | | 31 to 60 days | 113 | 132 | | 61 to 90 days | 113 | 131 | | Over 90 days | - | 25 | | **Total** | **4,433** | **1,792** | [Trade and Other Payables](index=8&type=section&id=2.12%20Trade%20and%20Other%20Payables) As of March 31, 2024, total trade and other payables amounted to HK$21,159 thousand, a decrease from the previous year Trade and Other Payables Details | Item | 2024 (HK$ thousand) | 2023 (HK$ thousand) | | :--- | :--- | :--- | | Trade payables | 5,496 | 5,912 | | Other payables and accrued charges | 15,663 | 17,320 | | **Total** | **21,159** | **23,232** | - The Group is granted credit terms ranging from **0 to 30 days** by its suppliers[44](index=44&type=chunk) [Reclassification of Comparative Figures](index=9&type=section&id=2.13%20Reclassification%20of%20Comparative%20Figures) Comparative figures for the 2023 consolidated statement of financial position have been reclassified, with long service payment provision separately presented from trade and other payables - Long service payment provision of approximately **HK$17,139 thousand** has been reclassified from trade and other payables to long service payment provision[46](index=46&type=chunk) Management Discussion and Analysis This section reviews the company's business operations, financial performance, cash flow, capital structure, and risk management strategies [Business Review](index=10&type=section&id=3.1%20Business%20Review) This year, the company continued route optimization, maintained fleet size, and saw increased passenger volume, but faced driver shortages and received approval for fare increases on some routes to ease cost pressures - Completed several route restructurings involving **eight scheduled public light bus routes**, focusing on adjusting fleet size and service hours/frequencies[50](index=50&type=chunk) - The number of public light bus routes remained at **72**, with **354 public light buses**; resident's bus routes numbered **4**, with a fleet size of **7 vehicles**[50](index=50&type=chunk) - The average fleet age was **7.7 years** (2023: 6.7 years), with **19-seater public light buses** accounting for approximately **78%** of the fleet[50](index=50&type=chunk) - Total passenger numbers for public transport and green minibuses increased by **8.6%** and **3.3%** respectively[50](index=50&type=chunk) - Due to driver shortages, total mileage slightly decreased by **1.7%** to approximately **34.1 million kilometers**[51](index=51&type=chunk) - Passenger volume for scheduled public light bus services increased by **4.7%** to approximately **55.5 million passengers**[51](index=51&type=chunk) - Approved fare increases for **9 routes**, ranging from **3.8% to 7.8%**[51](index=51&type=chunk) [Financial Review](index=11&type=section&id=3.2%20Financial%20Review) This year, the company turned from profit to loss, mainly due to the absence of one-off government subsidies and a significant increase in public light bus licence revaluation deficit, though operating profit improved excluding these non-recurring factors [Consolidated Results Overview](index=11&type=section&id=3.2.1%20Consolidated%20Results%20Overview) A loss of HK$11,952 thousand was recorded for the year, mainly due to not receiving government Anti-epidemic Fund subsidies and an increased public light bus licence revaluation deficit - A loss of **HK$11,952 thousand** was recorded for the year (2023: profit of HK$39,285 thousand)[54](index=54&type=chunk) - Key reasons for change: **no receipt of one-off government Anti-epidemic Fund subsidies of HK$45,406 thousand**, and an increase in non-cash public light bus licence revaluation deficit by **HK$14,520 thousand (71.0%)** to **HK$34,980 thousand**[54](index=54&type=chunk) - Excluding the impact of one-off government subsidies, public light bus licence revaluation deficit, and public bus licence impairment provision, operating profit increased by **71.8%** to approximately **HK$24,378 thousand**[54](index=54&type=chunk) [Revenue Analysis](index=11&type=section&id=3.2.2%20Revenue%20Analysis) Revenue for the year increased by 5.0% year-on-year to HK$393,686 thousand, primarily benefiting from increased passenger volume and fare adjustments - Revenue increased by **HK$18,790 thousand** or **5.0%** to **HK$393,686 thousand**[55](index=55&type=chunk) - Revenue growth was primarily attributable to a **4.7% increase in passenger volume** and **higher fares**[55](index=55&type=chunk) [Other Income and Other Net (Expenses)/Income Analysis](index=11&type=section&id=3.2.3%20Other%20Income%20and%20Other%20Net%20(Expenses)%2FIncome%20Analysis) Other income and other net (expenses)/income for the year significantly decreased by 82.7%, mainly due to the absence of government Anti-epidemic Fund subsidies - Other income and other net (expenses)/income significantly decreased by **HK$45,027 thousand** or **82.7%** to **HK$9,399 thousand**[56](index=56&type=chunk) - The main reason was the **non-receipt of one-off subsidies of HK$45,406 thousand** under the government Anti-epidemic Fund[56](index=56&type=chunk) [Direct Costs Analysis](index=12&type=section&id=3.2.4%20Direct%20Costs%20Analysis) Direct costs slightly increased by 0.5%, with fuel costs decreasing due to stable international oil prices, while labour costs rose to retain drivers - Direct costs slightly increased by **HK$1,450 thousand** or approximately **0.5%** to **HK$323,036 thousand**[58](index=58&type=chunk) - Fuel costs decreased by **HK$6,010 thousand** or approximately **8.8%** to **HK$62,446 thousand**, as average unit prices for diesel and LPG decreased by **9.8%** and **8.2%** respectively[58](index=58&type=chunk) - Labour costs increased by **HK$6,253 thousand** or approximately **4.4%** to **HK$149,821 thousand**, mainly due to increased wages to attract and retain drivers[58](index=58&type=chunk) - Depreciation of right-of-use assets for leased public light buses was **HK$63,702 thousand**, similar to last year[58](index=58&type=chunk) [Administrative Expenses Analysis](index=12&type=section&id=3.2.5%20Administrative%20Expenses%20Analysis) Administrative expenses increased by 5.6%, primarily due to higher staff costs, including annual salary increments and initial administrative costs for introducing mainland drivers - Administrative expenses increased by **HK$2,189 thousand** or **5.6%** to **HK$41,272 thousand**[59](index=59&type=chunk) - Primarily due to an increase in staff costs by **HK$1,580 thousand** or **5.0%** to **HK$33,135 thousand**, including annual salary increments and initial administrative costs for introducing mainland drivers[59](index=59&type=chunk) [Finance Costs Analysis](index=12&type=section&id=3.2.6%20Finance%20Costs%20Analysis) Total finance costs significantly increased by 62.9%, mainly due to rising average borrowing interest rates and finance charges on new lease liabilities - Interest expense on bank borrowings increased by **HK$812 thousand** or approximately **23.6%** to **HK$4,256 thousand**, mainly due to an increase in average borrowing interest rates by approximately **101 basis points**[60](index=60&type=chunk) - Finance charges on lease liabilities surged by **HK$2,573 thousand** or approximately **132.6%** to **HK$4,513 thousand**, attributable to new lease liabilities of **HK$184,197 thousand**[60](index=60&type=chunk) [Income Tax Expense Analysis](index=12&type=section&id=3.2.7%20Income%20Tax%20Expense%20Analysis) Income tax expense increased to HK$4,164 thousand, with an effective tax rate of 15.7%, and the Hong Kong Profits Tax rate maintained at 16.5% (with 8.25% applicable to some) - Income tax expense was **HK$4,164 thousand** (2023: HK$2,462 thousand)[61](index=61&type=chunk) - The effective tax rate for the year was **15.7%** (2023: 16.1%)[61](index=61&type=chunk) - Hong Kong Profits Tax rate remained at **16.5%**, with the tax rate for the first **HK$2,000,000** of assessable profits for one subsidiary reduced to **8.25%**[61](index=61&type=chunk) [Public Light Bus Licences Revaluation](index=13&type=section&id=3.2.8%20Public%20Light%20Bus%20Licences%20Revaluation) The market price of public light bus licences further declined, leading to an increased revaluation deficit, but management believes it has no significant impact on core business - The market price of public light bus licences further decreased by **HK$530 thousand** or approximately **38.4%** to **HK$850 thousand per licence**[76](index=76&type=chunk) - The total carrying amount of public light bus licences decreased to **HK$56,100 thousand**, a reduction of **HK$34,980 thousand** or approximately **38.4%**[76](index=76&type=chunk) - A total public light bus licence revaluation deficit of **HK$34,980 thousand** was charged to the consolidated statement of profit or loss[76](index=76&type=chunk) - Fluctuations in the market value of public light bus licences have **no significant impact** on the Group's core business[63](index=63&type=chunk) [Cash Flow](index=13&type=section&id=3.3%20Cash%20Flow) This year, net cash generated from operating activities decreased, net cash from investing activities turned positive, and net cash used in financing activities increased, resulting in a net decrease in cash and cash equivalents Key Data from Cash Flow Statement | Item | 2024 (HK$ thousand) | 2023 (HK$ thousand) | | :--- | :--- | :--- | | Net cash generated from operating activities | 105,381 | 139,446 | | Net cash generated from/(used in) investing activities | 5,278 | (16,472) | | Net cash used in financing activities | (112,260) | (100,700) | | Net (decrease)/increase in cash and cash equivalents | (1,601) | 22,274 | | Bank balances and cash at end of year | 57,050 | 68,651 | - The decrease in net cash generated from operating activities was mainly due to **not receiving government grants** as in the previous year[64](index=64&type=chunk) - Net cash generated from investing activities was primarily used for **purchasing vehicles and office renovation**, offset by **withdrawal of fixed deposits**[77](index=77&type=chunk) [Capital Structure, Liquidity and Financial Resources](index=14&type=section&id=3.4%20Capital%20Structure%2C%20Liquidity%20and%20Financial%20Resources) This year, total current liabilities significantly increased, leading to expanded net current liabilities, a decreased current ratio, and a substantially higher gearing ratio, primarily due to new lease liabilities and reduced shareholders' equity [Liquidity and Financial Resources Overview](index=14&type=section&id=3.4.1%20Liquidity%20and%20Financial%20Resources%20Overview) The Group's working capital is primarily funded by operating activities, but a significant increase in total current liabilities led to expanded net current liabilities and a decreased current ratio - Total current liabilities significantly increased to **HK$105,018 thousand** (2023: HK$84,581 thousand), mainly due to the recognition of lease liabilities under public light bus lease agreements[66](index=66&type=chunk) - Bank balances and cash decreased by **16.9%** to **HK$57,050 thousand**[79](index=79&type=chunk) - Net current liabilities were **HK$39,377 thousand** (2023: HK$9,284 thousand)[79](index=79&type=chunk) - Current ratio (current assets/current liabilities) decreased to **0.63 times** (2023: 0.89 times)[79](index=79&type=chunk) - Total banking facilities amounted to **HK$180,307 thousand**, of which **HK$113,007 thousand** was utilized[80](index=80&type=chunk) [Bank Borrowings](index=14&type=section&id=3.4.2%20Bank%20Borrowings) Total bank borrowings decreased by 12.4% to HK$113,007 thousand this year, primarily achieved through scheduled repayments Bank Borrowings Maturity Profile | Maturity | 2024 (HK$ thousand) | 2023 (HK$ thousand) | | :--- | :--- | :--- | | Within one year | 9,191 | 11,084 | | In the second year | 21,814 | 9,284 | | In the third to fifth years | 20,549 | 40,846 | | After five years | 61,453 | 67,800 | | **Total** | **113,007** | **129,014** | - Total bank borrowings balance decreased by **HK$16,007 thousand** or approximately **12.4%** to **HK$113,007 thousand**[81](index=81&type=chunk) [Gearing Ratio and Shareholders' Equity](index=14&type=section&id=3.4.3%20Gearing%20Ratio%20and%20Shareholders'%20Equity) The gearing ratio significantly increased to 143.5%, primarily due to a 49.3% reduction in shareholders' equity - The gearing ratio (total bank borrowings less bank balances and cash, divided by shareholders' equity) was **143.5%** (2023: 78.4%)[82](index=82&type=chunk) - Shareholders' equity decreased by **HK$37,967 thousand** or approximately **49.3%** to **HK$39,000 thousand**[82](index=82&type=chunk) [Pledge of Assets](index=15&type=section&id=3.4.4%20Pledge%20of%20Assets) The Group has pledged public light bus licences, property, plant and equipment, and investment properties as collateral for banking facilities Pledged Assets | Asset Type | 2024 (HK$ thousand) | 2023 (HK$ thousand) | | :--- | :--- | :--- | | Public Light Bus Licences | 30,600 | 60,720 | | Property, Plant and Equipment | 20,572 | 26,724 | | Investment Properties | 721 | 363 | [Capital Expenditure and Commitments](index=15&type=section&id=3.4.5%20Capital%20Expenditure%20and%20Commitments) Total capital expenditure for the year amounted to HK$189,031 thousand, primarily for right-of-use assets (public light bus leases) and property, plant and equipment Capital Expenditure | Item | 2024 (HK$ thousand) | 2023 (HK$ thousand) | | :--- | :--- | :--- | | Property, Plant and Equipment | 3,495 | 11,809 | | Right-of-use Assets | 185,536 | 2,380 | | **Total** | **189,031** | **14,189** | - Significant right-of-use assets refer to the **283 public light bus leases** recognized under renewed public light bus lease agreements with related parties[70](index=70&type=chunk) - Capital commitments were **HK$366 thousand** (2023: HK$865 thousand), primarily for **office and building renovation projects**[85](index=85&type=chunk) [Risk Management](index=15&type=section&id=3.5%20Risk%20Management) The Group faces interest rate and fuel price risks, but has no significant foreign exchange or credit risk, and has not adopted a fuel price hedging policy [Credit Risk Management](index=15&type=section&id=3.5.1%20Credit%20Risk%20Management) The Group's majority of income is collected in cash or electronic payments, and no guarantees are provided to third parties, thus posing no significant credit risk - The Group's majority of operating revenue is collected in **cash** or through **Octopus Card Limited or AlipayHK**[94](index=94&type=chunk) - The Group has **not provided any guarantees** to third parties that would expose it to credit risk, thus facing **no significant credit risk**[94](index=94&type=chunk) [Interest Rate Risk Management](index=15&type=section&id=3.5.2%20Interest%20Rate%20Risk%20Management) The Group's interest rate risk primarily stems from bank borrowings and lease liabilities, with all bank borrowings bearing floating interest rates, and management considers there to be no significant interest rate risk - Interest rate risk primarily arises from **bank balances, bank borrowings, and lease liabilities**[86](index=86&type=chunk) - All bank borrowings are denominated in **HKD** and bear **floating interest rates**, and management considers there to be **no significant interest rate risk**[86](index=86&type=chunk) [Foreign Currency Risk Management](index=15&type=section&id=3.5.3%20Foreign%20Currency%20Risk%20Management) The Group's majority of operating activities are denominated in HKD, thus posing no significant foreign exchange risk - The Group's majority of operating revenue and expenses, monetary assets, and liabilities are denominated in **HKD**, thus facing **no significant foreign exchange risk**[71](index=71&type=chunk) [Fuel Price Risk](index=16&type=section&id=3.5.4%20Fuel%20Price%20Risk) The Group faces fuel price risk, but after assessment, it was determined that hedging contracts are not an effective tool, thus no hedging policy has been adopted - The Group faces **fuel price risk**, and fluctuations in fuel prices may have a **significant impact on operations**[87](index=87&type=chunk) - The Board believes that entering into hedging contracts may **not be an effective tool** for managing fuel price risk, and thus **no hedging policy** has been adopted[87](index=87&type=chunk) [Significant Acquisitions and Disposals](index=16&type=section&id=3.6%20Significant%20Acquisitions%20and%20Disposals) This year, the Group had no significant acquisitions or disposals of any subsidiaries, associates, or joint ventures - For the year ended March 31, 2024, the Group had **no significant acquisitions or disposals** of any subsidiaries, associates, or joint ventures[73](index=73&type=chunk) [Contingent Liabilities](index=16&type=section&id=3.7%20Contingent%20Liabilities) As of March 31, 2024, the Group had no significant contingent liabilities - As of March 31, 2024, and March 31, 2023, the Group had **no significant contingent liabilities**[96](index=96&type=chunk) [Employee Benefits](index=16&type=section&id=3.8%20Employee%20Benefits) Employee benefit expenses constitute a major portion of the Group's total operating costs, amounting to HK$195,951 thousand this year, representing approximately 51.7% of total costs - Total employee benefit expenses were **HK$195,951 thousand** (2023: HK$187,834 thousand)[97](index=97&type=chunk) - Employee benefit expenses accounted for approximately **51.7%** (2023: 50.8%) of total costs (excluding public light bus licence revaluation deficit and public bus licence impairment provision)[97](index=97&type=chunk) Dividends and Corporate Governance This section covers the company's dividend policy, share transfer registration, corporate governance practices, and securities trading [Dividends Attributable for the Year](index=9&type=section&id=4.1%20Dividends%20Attributable%20for%20the%20Year) The Board recommended a special dividend of 4.0 HK cents per ordinary share for the year, totaling HK$10,877 thousand, but no final dividend was declared - The Board recommended a **special dividend of 4.0 HK cents per ordinary share** for the year ended March 31, 2024 (2023: nil), totaling **HK$10,877 thousand**[47](index=47&type=chunk) - The Board has **not declared a final dividend** for the year ended March 31, 2024 (2023: 9.0 HK cents per ordinary share, totaling HK$24,472 thousand)[47](index=47&type=chunk) - The special dividend will be paid on **September 20, 2024**, subject to shareholders' approval at the Annual General Meeting on **August 29, 2024**[47](index=47&type=chunk) [Closure of Register of Members](index=9&type=section&id=4.2%20Closure%20of%20Register%20of%20Members) To determine shareholders' eligibility to attend the AGM and receive the special dividend, the company will suspend share transfer registration in August and September, respectively - To determine eligibility for attending the Annual General Meeting, share transfer registration will be suspended from **August 26 to August 29, 2024**[48](index=48&type=chunk) - To determine entitlement to the special dividend, share transfer registration will be suspended from **September 6 to September 11, 2024**[48](index=48&type=chunk) [Corporate Governance](index=17&type=section&id=4.3%20Corporate%20Governance) The company has consistently complied with the code provisions of Appendix C1 "Corporate Governance Code" of the Listing Rules throughout the year - The company has consistently complied with the **code provisions of Appendix C1 "Corporate Governance Code" of the Listing Rules** for the year ended March 31, 2024[75](index=75&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=17&type=section&id=4.4%20Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Securities) This year, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities - For the year ended March 31, 2024, neither the company nor any of its subsidiaries **purchased, sold, or redeemed any of the company's listed securities**[100](index=100&type=chunk) Future Outlook and Management Statements This section outlines the company's future prospects, management's views on industry challenges, and statements regarding audit and governance [Prospects](index=17&type=section&id=5.1%20Prospects) Management remains cautiously optimistic about future prospects, expecting economic recovery and fare increases to boost passenger traffic and revenue, while urging the government to regularize the imported labour driver scheme to address industry challenges - The rapid expansion of Hong Kong's railway network poses a **significant challenge** to the minibus industry, with a substantial drop in public light bus licence prices reflecting a **tough operating environment**[74](index=74&type=chunk) - The Transport Department is considering **relaxing "red-to-green" restrictions**, but management believes the government lacks policy initiatives to improve the industry's **long-term prospects**[74](index=74&type=chunk) - Management remains **cautiously optimistic** about future prospects, expecting government economic stimulus measures and local economic recovery to **boost passenger traffic levels**[98](index=98&type=chunk) - Management anticipates that comprehensive fare increases on certain routes (**21 routes approved for fare hikes**) will also contribute to **operating revenue growth**[98](index=98&type=chunk) - The Group has applied to **further introduce mainland drivers** and hopes the government will incorporate the **imported labour driver scheme** into a regular program to address labour challenges from an aging population[90](index=90&type=chunk) [Review by Audit Committee](index=18&type=section&id=5.2%20Review%20by%20Audit%20Committee) The Audit Committee has reviewed the Group's annual financial statements and annual results announcement, providing advice and recommendations to the Board - The Audit Committee comprises **three independent non-executive directors**, one of whom possesses appropriate **accounting or financial management expertise**[102](index=102&type=chunk) - The Audit Committee held a meeting on **June 27, 2024**, to review the Group's annual financial statements and annual results announcement[102](index=102&type=chunk) [Review by Auditor](index=18&type=section&id=5.3%20Review%20by%20Auditor) The figures in the Group's preliminary results announcement are based on the audited consolidated financial statements agreed with the auditor, but the auditor has not issued any opinion or assurance conclusion on this preliminary announcement - The figures presented in the preliminary results announcement are based on the Group's **audited consolidated financial statements** for the year, as agreed with the Group's auditor, **Grant Thornton Hong Kong Limited**[102](index=102&type=chunk) - Grant Thornton Hong Kong Limited has **not issued any opinion or assurance conclusion** on the preliminary results announcement[102](index=102&type=chunk) [Board of Directors](index=18&type=section&id=5.4%20Board%20of%20Directors) As of this announcement date, the Board of Directors includes Executive Directors Mr. Wong Ling Sun (Chairman), Ms. Ng Shui Chun, Mr. Chan Man Chun (Chief Executive Officer), Non-executive Director Ms. Wong Wai Man, and Independent Non-executive Directors - Executive Directors: **Mr. Wong Ling Sun (Chairman)**, **Ms. Ng Shui Chun**, **Mr. Chan Man Chun (Chief Executive Officer)**[104](index=104&type=chunk) - Non-executive Director: **Ms. Wong Wai Man**[104](index=104&type=chunk) - Independent Non-executive Directors: **Not specifically named, but presence noted**[104](index=104&type=chunk) [Publication of Detailed Annual Results and Annual Report](index=18&type=section&id=5.5%20Publication%20of%20Detailed%20Annual%20Results%20and%20Annual%20Report) The company's financial information and other relevant disclosures required by the Listing Rules will be published on the HKEX website and the company's website in due course - Detailed financial information and other relevant data will be published on the **HKEX website www.hkex.com.hk** and the **company's website www.amspt.com**[103](index=103&type=chunk)

Financial Performance - Revenue for the six months ended September 30, 2023, was HKD 194,597,000, an increase of 7.5% compared to HKD 181,461,000 for the same period in 2022[7] - Gross profit for the same period was HKD 32,604,000, up 83.4% from HKD 17,779,000 year-on-year[7] - Operating profit decreased to HKD 16,681,000 from HKD 38,895,000, reflecting a decline of 57.1%[7] - The company reported a loss attributable to equity holders of HKD 12,695,000, compared to a profit of HKD 27,088,000 in the previous year[9] - Basic and diluted loss per share was HKD 4.67, compared to earnings of HKD 9.96 per share in the same period last year[7] - Total revenue for the group was HKD 194,597,000, reflecting a growth of 7% from HKD 181,461,000 in the previous year[28] - The group reported a net loss of HKD 12,695,000 for the period, compared to a profit of HKD 27,088,000 in the previous year[71] Assets and Liabilities - Total assets decreased to HKD 147,656,000 from HKD 207,441,000, a decline of 28.8%[12] - Current liabilities increased to HKD 56,071,000 from HKD 84,581,000, indicating a reduction of 33.8%[12] - The company's net assets decreased significantly to HKD 39,800,000 from HKD 76,967,000, a drop of 48.2%[12] - Cash and cash equivalents decreased to HKD 57,244,000 from HKD 68,651,000, a reduction of 16.5%[12] - The total accounts payable as of September 30, 2023, was HKD 5,306,000, a decrease from HKD 5,912,000 as of March 31, 2023, representing a decline of 10.2%[52] - The total lease liabilities as of September 30, 2023, amounted to HKD 114,000, compared to HKD 32,888,000 as of March 31, 2023[54] Cash Flow - Net cash inflow from operating activities for the six months ended September 30, 2023, was HKD 54,155,000, a decrease of 27% from HKD 74,441,000 in 2022[16] - The net cash inflow from investing activities was HKD 9,968,000, compared to a cash outflow of HKD 5,463,000 in the previous year, primarily due to a decrease in fixed deposits by HKD 10,000,000[78] Income and Expenses - Total other income for the six months ended September 30, 2023, was HKD 4,772,000, compared to HKD 4,466,000 for the same period in 2022, reflecting an increase of 6.8%[29] - Interest income significantly increased to HKD 1,014,000 in 2023 from HKD 74,000 in 2022, marking a growth of 1,267.6%[29] - Financing costs decreased to HKD 2,379,000 for the six months ended September 30, 2023, down from HKD 2,620,000 in 2022, a reduction of 9.2%[34] - Direct fuel costs decreased to HKD 31,380,000 in 2023 from HKD 36,508,000 in 2022, a decline of 14.1%[36] - Employee benefits expenses amounted to HKD 97,289,000, representing 52.0% of total costs, an increase from 50.8% in the previous year due to rising labor costs[89] Government Subsidies and Dividends - The group received government subsidies of HKD 225,000 for the acquisition of properties, machinery, and equipment[16] - Dividends paid increased significantly to HKD 24,472,000 from HKD 8,157,000 in the previous year, marking a rise of 200%[16] - The company received no government subsidies in the current period, compared to HKD 37,409,000 in the previous period, indicating a significant decrease[35] - No interim dividend was declared for the six months ended September 30, 2023, while a final dividend of HKD 24,472,000 was approved for the previous fiscal year[40] Operational Insights - The passenger volume has continued to recover following the end of the COVID-19 pandemic, contributing to improved operational performance[68] - The group faced challenges in recruiting and retaining drivers, leading to increased labor costs by 4.2% to HKD 75,049,000[74] - The company is facing challenges in recruiting and retaining drivers, but has received approval to bring in experienced drivers from mainland China, expected to arrive within one to two months[93] - The introduction of skilled drivers from mainland China aims to enhance service quality and operational capacity, with comprehensive training programs planned to ensure adaptation to local regulations and procedures[93] - The expansion of the Hong Kong railway network presents challenges for the minibus industry, but the company believes that a balanced transportation system, including cooperation between rail and minibuses, is essential to meet commuter needs[94] Future Outlook - Management expects that upcoming fare increase applications will contribute to revenue growth, despite ongoing operational pressures from high fuel prices and labor costs[92] - Passenger volume has not fully recovered to pre-pandemic levels, particularly during peak evening hours, but management is optimistic about improvements in the second half of the year due to ongoing economic stimulus measures and local economic recovery[92] Corporate Governance - The company has complied with the Corporate Governance Code during the six months ending September 30, 2023[105] - The Audit Committee, consisting of three independent non-executive directors, reviewed the unaudited interim financial information on November 30, 2023[106] - The executive directors include the chairman and CEO, with a total of four executive directors and three independent non-executive directors[108]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其準確性及完整性 亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何部份內容而產生或因倚賴該等內容而引致 的任何損失承擔任何責任。 AMS PUBLIC TRANSPORT HOLDINGS LIMITED 進智公共交通控股有限公司 (於開曼群島註冊成立之有限公司) (股股股股份份份份代代代代號號號號: 77) 截截截截至至至至二二二二零零零零二二二二三三三三年年年年九九九九月月月月三三三三十十十十日日日日止止止止六六六六個個個個月月月月 未未未未經經經經審審審審核核核核中中中中期期期期業業業業績績績績公公公公佈佈佈佈 進智公共交通控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈本公司及其附屬公司（統稱「本 集團」）截至二零二三年九月三十日止六個月之未經審核簡明綜合中期業績，連同二零二二年同期之未經 審核比較數字。未經審核簡明綜合中期財務資料已由本公司核數師及審核委員會（「審核委員會」）審閱。 簡簡簡簡明明明明綜綜綜綜合合合合收收收收益益益益表表表表 截至二零二三年九月三十日止六個月 截截截截至至至至九九九九月月月月三三三三十 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其準確性及完整性亦不 發表任何聲明，並明確表示，概不對因本公佈全部或任何部份內容而產生或因倚賴該等內容而引致的任何損 失承擔任何責任。 AMS PUBLIC TRANSPORT HOLDINGS LIMITED 進智公共交通控股有限公司 (於開曼群島註冊成立之有限公司) (股股股股份份份份代代代代號號號號: 77) 截截截截至至至至二二二二零零零零二二二二三三三三年年年年三三三三月月月月三三三三十十十十一一一一日日日日止止止止年年年年度度度度 全全全全年年年年業業業業績績績績公公公公佈佈佈佈 進智公共交通控股有限公司（「本公司」）董事會（「董事會」）欣然宣佈本公司及其附屬公司（統稱「本 集團」）截至二零二三年三月三十一日止年度之綜合業績，連同截至二零二二年三月三十一日止年度之比較 數字如下： 綜綜綜綜合合合合收收收收益益益益表表表表 截截截截至至至至三三三三月月月月三三三三十十十十一一一一日日日日止止止止年年年年度度度度 附註 二二二二零零零零二二二二三三三三年年年年 二零二二年 千千千千港港港港元元元元 千港元 收收收收益益益益 4 ...