Chow Tai Fook Media & Entertainment (01097) Cable Broadband Hong Kong has awarded the contractor a general contract for the KOHO renovation project through a notice of winning the bid

According to the Zhitong Finance App, Chow Tai Fook Media Entertainment (01097) announced that on November 4, 2026, Cable Broadband Hong Kong, a direct wholly-owned subsidiary of the Company, has awarded the contractor a general contract for the KOHO renovation project through a notice of winning the bid. The contract amount is HK$64 million.

The Company is an investment holding company. The Group's main business includes media and telecommunications business. The Media Division includes operations relating to domestic free television programme services, advertising, television broadcasting services, programme concessions, theatre screenings and other media-related businesses, while the Telecommunication Division includes operations relating to broadband Internet services, website subscriptions, telephone services, network leasing, network construction, mobile communication services and mobile phone proxy services, and other telecommunication-related businesses.

As disclosed in the Company's announcement dated August 14, 2026, the Group has begun a phased migration of its corporate headquarters, core media business and support functions to KOHO's new property. The new property is intended to be the Group's long-term operating base and must accommodate broadcast studios, control rooms, digital media facilities, data center infrastructure, office space and related supporting facilities.

In order for the new property to meet the Group's operating, technical and business requirements, it is necessary to carry out the necessary decoration, construction, installation and integration works. The refurbishment works will include (among others) construction of broadcasting and production facilities, upgrading of electrical and mechanical systems, installation of digital media and data facilities, and decoration of offices and support areas.

The Board believes that the renovation of the new property will help establish a modern integrated headquarters that can support the Group's broadcast, content production and digital media business. Upon completion, the refurbished property is expected to enhance operational efficiency by integrating the Group's main enterprise, production, broadcasting and support functions into a single operating hub, thereby enhancing collaboration, communication and workflow coordination among different business units. This consolidation arrangement is also expected to optimize the use of resources and enhance the Group's overall operating efficiency.

Furthermore, the refurbishment project will enable the Group to enhance its technical infrastructure and production capabilities, support its ongoing business transformation and digital all-media development strategy, and provide a more flexible and expandable platform to match future technological development and business growth.

The notice of winning the bid was awarded to the contractor after the tender process and fair negotiations between Cable Broadband Hong Kong and the contractor. The directors believe that the terms of the notice of winning the bid (including the contract amount) and the transactions to be carried out under it are normal commercial terms, fair and reasonable, and conform to the overall interests of the Company and its shareholders.