Zhitong Finance and Economics APP News, Kin Pang Hldgs (01722) announced that on July 8, 2024, the buyer (an indirect wholly-owned subsidiary of the company) issued an original purchase order to the seller to acquire a hydraulic casing oscillator (model VRM3000T1350, the specifications of which are described in detail in the original purchase order) at a cost of approximately 0.5248 million euros (equivalent to approximately 4.524 million Macau dollars). On July 26, 2024 (after the trading session ended), the buyer and the seller agreed to terminate the original purchase order for the reason of a suggestion to change the model of the hydraulic casing oscillator to be supplied and purchased after further discussion between the buyer and the seller.

On July 26, 2024 (after the trading session ended), the buyer issued a second purchase order to the seller to purchase the equipment of the second acquisition project. The cost of the second purchase order was approximately 0.7764 million euros (equivalent to approximately 6.751 million Macau dollars). The equipment of the second acquisition project is a hydraulic casing oscillator (model VRM3300T2300).

The Group believes that the equipment of the second acquisition project will be more suitable to support the company's sustained development, as this model has more advanced specifications and superior performance. The Group plans to use the equipment of the second acquisition project for construction projects in order to improve the Group's construction ability and efficiency. It is expected that the acquisition of the equipment for the second acquisition project will help the company meet the increasing demand for its construction engineering, enabling it to undertake more large-scale projects.