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)
2021/22 ANNUAL REPORT
CONTENTS
- Company Information
- Corporate Profile
- Financial and Operating Highlights
- Chairman's Statement
- Management Discussion and Analysis
16 Environmental, Social and Governance Report
28 Corporate Governance Report
44 Directors and Senior Management Profile
47 Directors' Report
57 Independent Auditor's Report
- Consolidated Income Statement
- Consolidated Statement of Comprehensive Income
- Consolidated Statement of Financial Position
- Consolidated Statement of Changes in Equity
- Consolidated Cash Flow Statement
- Notes to the Consolidated Financial Statements
118 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-Executive Director
** 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
02 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 47 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 2021/22 | 03 |
FINANCIAL AND OPERATING HIGHLIGHTS
Year ended 31 March | ||||||
Financial Highlights | Unit | 2022 | 2021 | Change | ||
Financial results | ||||||
Revenue | HK$'000 | 339,198 | 303,366 | +11.8% | ||
Profit for the year excluding deficit on revaluation | ||||||
of PLB licences and provision for impairment of | ||||||
public bus licences | HK$'000 | 515 | 47,345 | -98.9% | ||
Deficit on revaluation of PLB licences charged to | ||||||
consolidated income statement | HK$'000 | 18,150 | 20,790 | -12.7% | ||
(Loss)/Profit attributable to equity holders of the | ||||||
Company | HK$'000 | (18,385) | 21,821 | N/A | ||
(Loss)/Earnings per share | HK cents | (6.76) | 8.03 | N/A | ||
Proposed final dividend per ordinary share1 | HK cents | - | 7.0 | -100% | ||
Proposed special dividend per ordinary share | HK cents | 3.0 | - | N/A | ||
Profit margin ((loss)/profit attributable to equity | ||||||
holders/revenue) | -5.4% | 7.2% | ||||
Return on equity ((loss)/profit attributable to | ||||||
equity holders/shareholders' equity) | -40.1% | 26.2% | ||||
As at 31 March | ||||||
2022 | 2021 | Change | ||||
Financial position | ||||||
Bank borrowings | HK$'000 | 152,091 | 146,106 | +4.1% | ||
Shareholders' equity | HK$'000 | 45,839 | 83,258 | -44.9% | ||
Current ratio (current assets/current liabilities) | Times | 0.37 | 0.59 | |||
Gearing ratio (total bank borrowings less bank | ||||||
balances and cash/shareholders' equity) | 252.4% | 118.3% | ||||
04 AMS Public Transport Holdings Limited
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