New stock news | HKMO Cultural Tourism passes HKEX hearing, owns two major cross-border passenger transport brands "TurboJET" and "CTS Bus"

According to the disclosure by the Hong Kong Stock Exchange on October 26, HKMO Cultural Tourism Holdings Limited (referred to as "HKMO Cultural Tourism") has passed the listing hearing of the Main Board of the Hong Kong Stock Exchange and intends to list on the Main Board of The Stock Exchange of Hong Kong Limited by way of introduction, with China Galaxy International as its sole sponsor. According to the prospectus, HKMO Cultural Tourism has become a tourism service provider focused on the Greater Bay Area. The company operates a cross-border passenger transport platform covering both sea and land networks in the Greater Bay Area. HKMO Cultural Tourism provides cross-border transportation services under two major cross-border passenger transport brands: "TurboJET" and "CTS Bus." The prospectus mentions that TurboJET, under HKMO Cultural Tourism, operates Hong Kong-Macau ferry routes and, as of April 30, 2026, owned 22 government-licensed vessels. CTS Bus mainly operates cross-border road passenger transport services. As of April 30, 2026, the company's fleet had 221 tour coaches and 44 business vehicles, with routes covering Hong Kong, Macau and the other nine cities in the Greater Bay Area. In addition, HKMO Cultural Tourism operates a portfolio of three distinctive hotel brands (Metropark, Kew Green and Park Lane). As of the latest practicable date, HKMO Cultural Tourism operates six hotels under the Metropark brand, one hotel under the Kew Green brand and one serviced apartment under the Park Lane brand. The hotels are located in prime locations in key commercial districts and tourist hotspots in Hong Kong, Macau and Beijing. These hotels operate in business and chain formats, targeting the mid-to-high-end market. HKMO Cultural Tourism has also been appointed by China Travel Service (Group) to provide travel document entrusted handling services in Hong Kong, with the aim of providing more convenience to the public. HKMO Cultural Tourism provides a wide range of travel-related services and operates through three business segments: (i) passenger transport, (ii) hotel business, and (iii) travel documents and related services. Specifically, in passenger transport, HKMO Cultural Tourism provides cross-border ferry transportation services under the "TurboJET" brand. Through scheduled high-speed ferry services operating on fixed routes and timetables, HKMO Cultural Tourism connects major ports in Hong Kong, Macau and Shenzhen. HKMO Cultural Tourism's ferry transportation services are supported by service products, including ticketing, reservations and ancillary customer services provided through multiple sales channels. HKMO Cultural Tourism also operates cross-border bus services connecting Hong Kong and Macau with mainland Chinese cities in the Greater Bay Area, supplemented by local passenger transport services in Hong Kong, Zhuhai and Shenzhen. In the hotel business, HKMO Cultural Tourism operates a total of eight accommodation properties in Hong Kong, Macau and Beijing, including seven hotels and one serviced apartment. Through its three brands (Metropark, Kew Green and Park Lane), it offers accommodation options ranging from high-end to affordable for a broad customer base, primarily targeting the mid-to-high-end market. HKMO Cultural Tourism's properties are all located in core locations in major city centers, serving business travelers and sightseers seeking convenient access to major commercial, leisure and transportation hubs. In travel documents and related services, HKMO Cultural Tourism's travel document entrusted handling services mainly involve assisting individual applicants in handling cross-border travel documents, including receiving travel permit applications and related data, conducting preliminary checks on whether the required data has been provided completely, and submitting such information for further processing. HKMO Cultural Tourism provides the above services under an arrangement with China Travel Service (Group), pursuant to which HKMO Cultural Tourism has been appointed as the exclusive agent of China Travel Service (Group) for providing travel document entrusted handling services in Hong Kong until June 30, 2047. As of the date of the document, HKMO Cultural Tourism is a direct wholly-owned subsidiary of CHINA TRAVEL HK. As the distribution will be effected by distributing the entire issued share capital of the company to qualified CHINA TRAVEL HK shareholders in proportion to their shareholdings in CHINA TRAVEL HK on the record date, immediately following the distribution, the company will cease to be a subsidiary of CHINA TRAVEL HK, and the company's controlling shareholders will include China Tourism Group, China Travel Service (Group), CTS Asset Management and Hong Kong Xinlv. Upon the spin-off, there will be a clear delineation between the businesses of the group and those of the China Tourism Group system companies, and the group can operate and run independently of the controlling shareholders. In terms of financials, the company recorded revenue of approximately HK$2.191 billion, HK$2.242 billion, HK$2.198 billion and HK$721 million for the years 2023, 2024 and 2025 and the four months ended April 30, 2026, respectively. In the same periods, the company recorded annual/period profit of approximately HK$479 million, HK$194 million, HK$117 million and HK$23 million, respectively.