Kai Yuan Holdings (01215) subsidiary entered into a renewal agreement with Sinfonic.

KAI YUAN HLDGS (01215) announced that on November 15, 2024 (after trading hours of the Stock Exchange), the project owner MCE OpCo (a wholly owned subsidiary of the company) has entered into a renovation agreement with the main contractor Sinfonic. According to this agreement, the main contractor has agreed to carry out renovation works on the hotel, with a renovation contract price of 11.2803 million euros (excluding value-added tax) (equivalent to approximately 92.7242 million Hong Kong dollars). The announcement stated that the renovation agreement has been entered into for the renovation of other parts of the hotel. The Board of Directors believes that the renovation works will enhance the hotel's occupancy rate, revenue, and business value.