Transport International Holdings

What Transport International Holdings does

Transport International Holdings Ltd (HKEX stock code 62), founded in 1933 and headquartered in Sham Shui Po, Hong Kong, is a public-listed holding company that operates one of Hong Kong's largest franchised public bus networks through its wholly-owned subsidiaries Kowloon Motor Bus (KMB) and Long Win Bus. KMB runs a fleet of approximately 4,100 buses serving around 2.8 million daily passengers across Hong Kong, while Long Win Bus provides airport and cross-boundary services linking the New Territories, Hong Kong International Airport, North Lantau, and the Hong Kong-Zhuhai-Macau Bridge. The group also operates non-franchised bus services via Sunshine Bus Group and New Hong Kong Bus (the latter running 15 ultra-low-floor shuttle buses between Lok Ma Chau and Huanggang), and holds minority stakes in Mainland China transportation operators — Shenzhen Bus Group (35%) and Beijing Beiqi Jiulong Taxi (31.38%, operating over 3,700 taxis).

The company monetizes primarily through regulated franchised bus fares paid by individual commuters and travelers, with secondary income from non-franchised contract and charter services to residential estates, corporates, schools, and travel agencies, plus stable rental income from a wholly-owned property portfolio (LCK Real Estate, LCK Commercial Properties, TM Properties, and KT Real Estate) covering commercial offices, a shopping arcade, and industrial properties in Kowloon and the New Territories. Franchised fares are set by the Hong Kong Government, while non-franchised services operate on a contract/bulk-hire basis. As of the data window, the group employs over 12,600 staff including approximately 8,900 bus captains, with operational credibility supported by ISO45001 (all depots), ISO9001 (KMB and Long Win Bus), and ISO14001 (two largest depots) certifications.

Technology investment is concentrated on environmental fleet modernization rather than digital or AI capabilities: the company has self-developed and deployed solar-powered double-decker buses (first batch in service October 2019), uses near-zero sulfur diesel across its fleet, and is trialing electric buses and super capacitor buses to explore zero-emission operations. Beyond fleet electrification, technology deployment emphasizes in-bus safety devices, ISO-certified preventive maintenance, and driver training programs. The company has not disclosed any AI/ML, data analytics, or autonomous driving initiatives, and its marketing and distribution channels are service-quality-driven rather than digitally-led.

Name

Transport International Holdings

Legal name

Transport International Holdings Ltd

Website

https://tih.hk

Company type

Public

Founded year

1933

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Transport International Holdings is a Hong Kong-listed holding company that operates KMB and Long Win Bus, two of the city's largest franchised bus operators, serving roughly 2.8 million daily passengers via a fleet of ~4,100 buses, with adjacent non-franchised, property, and Mainland China transport investments.

Ownership category

akta.pro rank

Product category

Public Bus Transportation Services

NAICS

Bus and Other Motor Vehicle Transit Systems (485113), Interurban and Rural Bus Transportation (485210), Charter Bus Industry (4855)

SIC

Local & Suburban Transit & Interurban Hwy Passenger Trans (4100)

akta.pro primary industry

Public Transit Bus Operators (Municipal/Regional) (TLAFAAAI)

akta.pro secondary industries

Coach & Bus Charter Fleet Rental (With/Without Driver) (TLABADAE), Regional Intercity Bus Operators (Scheduled) (THAIADAB), Shuttle Bus Leasing/Rental (Airport/Hotel/Corporate) (TLABADAD)

Keywords

• Franchised public bus services
• Airport cross-boundary transport
• Non-franchised bus services
• Commercial property holdings
• Low-emission bus fleet

Headquarters

HQ city

Sham Shui Po

HQ country

Hong Kong SAR China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Supply Chain

Revenue model

1. Franchised Bus Services: Public bus services in Hong Kong operated through subsidiaries KMB and Long Win Bus, serving daily commuters with extensive route networks
2. Non-Franchised Bus Services: Transportation services for residential estates, shopping malls, companies, travel agencies, and schools through Sunshine Bus Group
3. Property Holdings: Commercial and industrial property investments including office buildings and shopping malls generating stable rental income
4. Mainland China Transportation Investments: Investments in Shenzhen and Beijing transportation operators including taxi services

Go-to-market motion1 record

Distribution channels3 records

Marketing channels1 record

Core offering

Transport International Holdings operates franchised public bus services in Hong Kong through its wholly-owned subsidiaries Kowloon Motor Bus (KMB) and Long Win Bus, serving approximately 2.8 million daily passengers with a fleet of around 4,100 buses. The group also provides non-franchised bus services for residential estates, schools, and corporate clients, manages a portfolio of commercial and industrial properties, and holds equity stakes in Mainland China transport operators (Shenzhen Bus Group and Beijing Beiji Jiulong Taxi).

Product overview

Transport International Holdings operates as a diversified public transportation and property investment holding company. The core business comprises franchise bus operations through its wholly-owned subsidiaries 九龍巴士 (KMB) and 龍運巴士 (Long Win Bus), non-franchised transport services via 陽光巴士 and 新香港巴士, strategic investments in Mainland China transportation operators including 深圳巴士集團 (35% stake) and 北京北汽九龍 (31.38% stake), and property holdings including commercial buildings and shopping arcades in Kowloon and New Territories. The company also focuses on sustainable transport initiatives including solar-powered double-decker buses and electric bus trials.

Differentiator

Problem solved

Functional benefit

Brands

• KMB (九巴): 九龍巴士（一九三三）有限公司 - Kowloon Motor Bus, the flagship wholly-owned subsidiary providing franchised public bus services across Hong Kong for over 80 years with a fleet of approximately 4,100 buses serving about 2.8 million passengers daily
• 龍運 (Long Win Bus / LWB)
• 陽光巴士 (Sun Bus)
• 新港巴 (New Hong Kong Bus)

Products and services

• Kowloon Motor Bus (KMB) Franchised Public Bus Services (九巴) Franchised public bus services across Hong Kong operated by the flagship subsidiary Kowloon Motor Bus (KMB), with a fleet of approximately 4,100 buses serving around 2.8 million passengers daily across an extensive urban route network.
• Long Win Bus Airport and Cross-Boundary Services (龍運) Franchised bus services linking the New Territories, Hong Kong International Airport, and North Lantau, serving business and leisure travelers, airport employees, and residents using the Hong Kong-Zhuhai-Macau Bridge and Tung Chung residential areas.
• Sunshine Bus Non-Franchised Services (陽光巴士) Non-franchised bus services for large residential estates, shopping malls, corporations, travel agencies, and schools, plus chartered bus services for the public.
• New Hong Kong Bus Shuttle Services (新港巴) Shuttle bus services between Lok Ma Chau and Huanggang (San Tin Public Transport Interchange), using 15 ultra-low-floor air-conditioned single-deck buses and serving from the terminal's four air-conditioned waiting rooms.
• LCK Real Estate Limited - Commercial Building at 9 Po Lun Street, Lai Chi Kok Ownership of a 17-story commercial building at 9 Po Lun Street, Lai Chi Kok, Kowloon, with approximately 156,700 square feet of gross floor area, held to generate commercial rental income.
• LCK Commercial Properties Limited - Manhattan Town Shopping Arcade Ownership of the two-story platform shopping arcade 'Manhattan Town' at 1 Po Lun Street, Lai Chi Kok, Kowloon, with approximately 50,000 square feet of lettable area, generating retail rental income.
• TM Properties Investment Limited - Tuen Mun Factory Property Ownership of a factory property at 1 Kin Fung Street, Tuen Mun, New Territories, comprising a high-ceiling single-story building and three-story workshop with approximately 105,900 square feet of gross floor area, generating industrial rental income.
• KT Real Estate Limited - Land Interest at 98 How Ming Street, Kwun Tong Holding of a 50% interest in land at 98 How Ming Street, Kwun Tong, Kowloon, as part of the group's property investment portfolio.
• Shenzhen Bus Group Equity Investment (深圳巴士集團股份有限公司) 35% equity stake in Shenzhen Bus Group Co., Ltd., a Sino-foreign joint venture providing public transport services in Shenzhen.
• Beijing Beiji Jiulong Taxi Investment (北京北汽九龍出租汽車股份有限公司) 31.38% equity stake in Beijing Beiji Jiulong Taxi Co., Ltd., operating a fleet of more than 3,700 taxis in Beijing, held via the wholly-owned subsidiary KMB (Beijing) Taxi Investment Ltd.

Quantifiable outcome

• ~2.8 million daily passenger journeys
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Beijing Beiqi Jiulong Taxi Co., Ltd. (北京北汽九龍出租汽車股份有限公司)coreStrategic or Co-development Partner · 1 January 2003First Sino-foreign joint venture to enter the Mainland China taxi and car rental business. Transport International Holdings holds 31.38% stake through its wholly-owned subsidiary KMB (Beijing) Taxi Investment Ltd. Operates a fleet of over 3,700 taxis.
• Shenzhen Bus Group (深圳巴士集團股份有限公司)coreStrategic or Co-development PartnerJoint venture where Transport International Holdings holds 35% stake through its wholly-owned subsidiary KMB (Shenzhen) Transportation Investment Ltd. The company is a Sino-foreign joint venture established with four other Mainland investors.
• Sunshine Bus Group (陽光巴士控股有限公司)coreStrategic or Co-development PartnerOne of Hong Kong's major non-franchised bus service operators, providing services for residential estates, shopping malls, companies, travel agencies, and schools.
• New Hong Kong Bus (新香港巴士有限公司)minorStrategic or Co-development PartnerOperates 15 ultra-low-floor air-conditioned single-deck buses providing shuttle bus service between Lok Ma Chau and Huang Gang (San Tin Public Transport Interchange).

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Stagecoach Group: UK-based public transport operator focused on bus and coach services under government franchise contracts. Comparable in regulated-fare franchised bus model; serves a different geography (UK) but similar institutional and regulatory structure.
• Shenzhen Bus Group: TIH holds a 35% stake in Shenzhen Bus Group, a major municipal bus operator in Shenzhen. Comparable as a Mainland China public bus operator serving an adjacent Pearl River Delta market, providing direct regional peer insight.

Broad incumbents

• ComfortDelGro: Singapore-listed multi-modal public transport operator with bus, taxi, and rail operations across Asia and Australia. Comparable as a publicly listed, large-scale Asian mass-transit incumbent with similar franchise/contracted business model and government-regulated pricing.
• FirstGroup: UK-listed operator of franchised bus and rail services. Comparable in operating model (government-franchised bus operations with regulated fare structures) though serving a different geography; useful proxy for unit economics of franchise bus operations.
• SMRT Corporation: Singapore's major multi-modal public transport operator (rail, bus, taxi). Comparable as a publicly listed, government-linked incumbent in an Asian mature market with regulated fares and significant public-transit scale.
• MTR Corporation: Hong Kong's dominant rail operator that also runs some franchised bus services under a 'rail plus property' model. Directly comparable as a major Hong Kong mass-transit incumbent serving overlapping commuter demand with a public-concession structure.
• Transdev: Global private operator of public transit (bus, rail, ferry) under public-service contracts across Europe, North America, and Asia-Pacific. Comparable as a contracted bus operator with regulated fare structure and government-franchised routes.

Emerging players

• Transit Systems (Kelsian Group): Australian public transport operator (bus and ferry) under government contracts, part of Kelsian Group. Comparable in contracted/regulated bus operations model; serves a different geography and is smaller scale than TIH, but provides emerging-market public-transit bus benchmark.

Direct peers

• Citybus / New World First Bus: The other major franchised bus operator in Hong Kong, also running urban and airport routes. The most direct peer to KMB and Long Win Bus given identical regulatory framework, customer base, and franchise model.
• The Kowloon Motor Bus Company (1933) Limited: Listed as a separate consideration: this is in fact TIH's core subsidiary—peers here are external Hong Kong franchised bus operators. Citybus / NWFB is the most direct external comparable, competing on overlapping Hong Kong Island and urban routes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/transport-international

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Transport International Holdings