KING FOOK HOLD (00280) leases a prime location store in Pacific Place as the Group's important single watch brand boutique.

KING FOOK HOLD (00280) announces that on 11 October 2026, the landlord, Pacific Place Investment Limited, accepted the invitation letter contained in the tenant, King Fook Jewellery Group Limited (a wholly-owned subsidiary of the Company), regarding the lease of the property. The landlord accepted the invitation letter contained in the tenant regarding the lease of the property for a term of 72 months, commencing on the date notified by the landlord to the tenant in writing, currently expected to be 1 February 2028, with total base rent of approximately HK$268.5 million (which will be net of the total base monthly rent payable during the rent-free period), and turnover rent in excess of the relevant base monthly rent (calculated as a percentage of 6.75% to 6.9% of the tenant's turnover at the property, plus additional percentage rates applicable to individual sales transactions), excluding the landlord's chilled water charges, service charges and promotional charges, and government rates. Under the lease, the monthly base rent shall be payable in cash in advance on the first day of each month, and the turnover rent shall be payable in cash monthly on the 15th day of the following month. The rent-free period is 6 months, or until the date the property commences business, whichever is earlier. The amounts under this lease agreement will be paid from internal resources. The tenant will enter into the lease to use the property as the Group's single watch brand boutique. Leasing a prime location store in Pacific Place as the Group's important single watch brand boutique marks an important milestone in the Group's continuous business optimisation and strategy execution: Expanding presence in prime locations: Establishing a flagship store in a premium shopping venue helps the Group attract high-net-worth retail traffic, affluent local customers and high-spending clientele. Capturing growth in the watch business: The Group is confident in the high-end watch market. The store expansion helps build a strong brand image and broaden the customer base. Enhancing in-store customer experience: Modern luxury retail relies heavily on immersive, personalised shopping experiences. The expanded store will feature a spacious VIP exclusive lounge and a comprehensive after-sales service area, thereby enhancing customer acquisition and retention.