Kwoon Chung Bus Group (00306) announced that compared with the comprehensive pre-tax loss of about 142 million Hong Kong dollars as at the year ended 31 March 2023, the Group is expected to turn losses into profits and achieve a comprehensive pre-tax profit of about 70 million Hong Kong dollars for the year ended 31 March 2024.

The announcement stated that the above-mentioned turning losses into profits is mainly attributed to the steady recovery of cross-border transportation service demand after the full resumption of clearance between China's Hong Kong, mainland China, and Macao in early 2023, which led to the recovery of income of the group's core cross-border non-patent bus business and cross-border car business; after the easing of epidemic prevention and control measures in mainland China, the tourism industry has seen strong recovery, resulting in ideal growth performance for the group's mainland China business, including scenic spot business; and the positive results of the group's continued implementation of effective cost control measures.