KIN PANG HLDGS(01722) Subsidiary receives letter of intent for construction contract in Macau.

KIN PANG HLDGS (01722) announced that its wholly-owned subsidiary, Jianpeng Construction Limited, has received a letter of intent dated December 8, 2025 from a resort and casino operator expressing intention to enter into a joint venture with Jianpeng Construction and another construction company in Macau (a third party independent of the Company and its related parties) for the construction contracts related to the Macau Activity Center and the Macau Theatre. The purpose is to undertake the construction projects for the Activity Center and the Theatre. On October 8, 2025, Jianpeng Construction entered into a joint venture agreement with the partner. According to the agreement, Jianpeng Construction and the partner are required to establish two joint venture companies, with the partner and Jianpeng Construction holding 60% and 40% equity respectively in each company. Based on the correspondence between Jianpeng Construction, the partner, and the owner, it is anticipated that the construction projects for the Activity Center and the Theatre will commence in the first quarter of 2026. Upon completion of all the Activity Center construction contracts (including several provisional contract amounts that may not necessarily materialize), the total contract amount for the Activity Center contract is expected to be approximately HK$1.784 billion. It is anticipated that the Activity Center contract will be completed around the third quarter of 2027. Upon completion of all the Theatre construction contracts (including several provisional contract amounts that may not necessarily materialize), the total contract amount for the Theatre contract is expected to be approximately HK$875 million. It is anticipated that the Theatre contract will be completed around the fourth quarter of 2027.