KHOON GROUP (00924) has issued an announcement stating that the company's board of directors has taken note of a news report published on hk01.com on May 13, 2026. The report concerns, among other matters, alleged restriction orders issued by the Hong Kong High Court regarding certain assets of a Mr. Chan, including certain securities of the company (collectively referred to as "the matter").

To the best of the board's knowledge, following all reasonable inquiries, the board hereby clarifies the following:

(1) Based on the information currently available to the company, neither the company nor any other member of the group is a respondent, defendant, or party to the legal proceedings mentioned in the report. Furthermore, no directors, senior management, or employees of the group are involved in or have any connection with the matter or its related affairs.

(2) As indicated in the report, the matter primarily pertains to Mr. Chan's personal assets and does not involve any assets, business, or operations of the group. Any potential impact of the matter on the group's business operations and financial condition, if any, remains to be assessed.

(3) Apart from the information disclosed in this announcement, the sanctions announcement, and other announcements published by the company on the website of The Stock Exchange of Hong Kong Limited, the board is not aware of any other information related to the matter that constitutes inside information of the company requiring disclosure under the relevant inside information provisions.

The company will continue to monitor the developments of the matter closely and will issue further announcements in due course in accordance with the Listing Rules and other applicable laws and regulations.