KELFRED (01134) announced that regarding the potential sale of approximately 54.19% of the company's total issued share capital by controlling shareholder Dingfeng, Dingfeng and the board were informed on November 29, 2025, that the potential buyer would not proceed with the transaction. Discussions between the potential buyer and Dingfeng regarding the possible sale have been terminated, and no formal agreement was reached. Consequently, the potential mandatory unconditional general offer for all issued shares (excluding those already owned or agreed to be acquired by the potential buyer and its concert parties) under Rule 26.1 of the Takeovers Code will not proceed. The board further noted that discussions between the potential buyer and the company's minority shareholders (including independent non-executive director Mr. Leung Ka Tin) have also been terminated without any formal agreement. For the purposes of the Takeovers Code, the offer period ended on December 1, 2025. The company has applied to the Stock Exchange for the resumption of share trading starting at 9:00 a.m. on December 2, 2025.