IPO News | Hong Kong and Macau Cultural Tourism Sees Two Major Cross-border Passenger Transport Brands, “TurboJET” and “China Travel Bus” through the Hong Kong Stock Exchange

The Zhitong Finance App learned that according to the Hong Kong Stock Exchange's disclosure on October 26, China Travel Hong Kong and Macau Cultural Tourism Holdings Limited (abbreviation: Hong Kong and Macau Cultural Tourism) passed the Hong Kong Stock Exchange's main board listing hearing and plans to be listed on the main board of the Hong Kong Stock Exchange Limited through an introduction. China Galaxy International is the sole sponsor. According to the prospectus, Hong Kong and Macau Cultural Tourism has become a travel service provider focusing on the Greater Bay Area. The company operates a cross-border passenger transport platform covering sea and land networks in the Greater Bay Area. Hong Kong and Macau Cultural Tourism provides cross-border transportation services under two major cross-border passenger transport brands: “TurboJET” and “China Travel Bus”.

The prospectus mentioned that Hong Kong and Macau Cultural Tourism TurboJET operates ferry routes between Hong Kong and Macau and has 22 government-licensed ships as of April 30, 2026. China Travel Bus mainly operates cross-boundary road passenger services. As of April 30, 2026, the company's fleet has 221 coach buses and 44 commercial vehicles, with routes covering Hong Kong, Macau and nine other cities in the Greater Bay Area. In addition, Hong Kong and Macau Cultural Tourism operates a combination of three unique hotel brands (Metroview, Ruijing and Park View). As of the last practical date, Hong Kong and Macau Cultural Tourism operated six hotels under the Weijing brand, one hotel under the Ruijing brand, and one serviced apartment under the Park Jingxuan brand. The hotel is ideally located in key commercial areas and tourist hotspots in Hong Kong, Macau and Beijing. These hotels operate in commercial and chain formats, and target customers in the middle and high-end markets. Hong Kong and Macau Cultural Tourism has also been appointed by China Travel Service (Group) to provide travel document entrustment services in Hong Kong, with a view to providing more convenience to the public.

Hong Kong and Macau Cultural Tourism provides a wide range of travel-related services and operates through three business segments: (i) passenger transportation, (ii) hotel business, and (iii) travel documents and related services.

Specifically, in terms of passenger transportation, Hong Kong and Macau Cultural Tourism uses the “TurboJET” brand to provide cross-border ferry transportation services. Hong Kong and Macau cultural tourism connects major ports in Hong Kong, Macau and Shenzhen through regular high-speed ferry services with fixed routes and timetables. Hong Kong and Macau Cultural Tourism's ferry transportation services are supported by service products, including ticketing, reservation and supporting customer services provided through multiple sales channels. Hong Kong and Macau Cultural Tourism also operates a cross-boundary bus service connecting Hong Kong and Macau with mainland Chinese cities in the Greater Bay Area, as well as local passenger services in Hong Kong, Zhuhai and Shenzhen.

In terms of hotel business, Hong Kong and Macau Cultural Tourism operates eight lodging properties in Hong Kong, Macau and Beijing, including seven hotels and one serviced apartment. Through its three brands (Weijing, Ruijing and Park View), we provide a wide range of guests with accommodation options from high-end to affordable prices, mainly targeting the middle and high-end markets. Hong Kong and Macau cultural tourism properties are all located at the core of major city centers, providing services for business travelers and tourists seeking convenient access to major commercial, leisure and transportation hubs.

Travel documents and related services. The Hong Kong and Macau cultural tourism travel document entrustment service mainly involves assisting individual applicants in processing cross-border travel documents, including receiving travel permit applications and related data, preliminary checks whether the required data has been provided in completeness, and submitting such information for further processing. Hong Kong and Macau Cultural Tourism provides the above services under an arrangement with China Travel (Group). According to this, Hong Kong and Macau Cultural Tourism has been appointed as the exclusive agent for China Travel (Group) to provide travel document entrustment services in Hong Kong until June 30, 2047.

As of the date of the document, Hong Kong and Macau Cultural Tourism is a direct wholly-owned subsidiary of China Travel Hong Kong. Since the distribution will be carried out by distributing all of the company's issued share capital to eligible Hong Kong China Travel shareholders according to their shareholding ratio in Hong Kong China Travel on the record date, the company will no longer be a subsidiary of China Travel Hong Kong, and the controlling shareholders of the company will include China Travel Group, China Travel (Group), CTS Asset Management, and Hong Kong New Travel. After the spin-off, there is a clear division of business between the Group and China Travel Group companies, and the group can operate and operate independently of the controlling shareholder.

On the financial side, the company recorded revenue of approximately HK$2.191 billion, $2,242 billion, $2,198 million, and HK$721 million in 2023, 2024, 2025, and 2026 respectively. In the same period, the company recorded annual/period profit of approximately HK$479 million, $194 million, $117 million and HK$23 million respectively.