According to the announcement released by Kinetic Dev (01277), on August 2, 2024, Kinetic (Asia) (an indirect wholly-owned subsidiary of the company, as the lessee) and Wealth Galaxy (as the lessor) entered into a sub-lease agreement for aircraft leasing.

Due to the company's pursuit to diversify its business portfolio beyond existing coal mines in China and to make significant investments overseas, it is expected that the directors and management will need to travel frequently, especially to areas with limited options for commercial airline flights, to conduct on-site inspections of the operating mines and conduct due diligence through on-site investigations. Renting a private jet will save valuable time as private jets can offer non-stop, flexible scheduling and access to smaller airports, reducing reliance on commercial airlines. In addition, private jets provide higher privacy and security, which is important for sensitive negotiations. Leasing an aircraft will help the company effectively achieve its strategic goals without being disturbed by travel restrictions.