Hong Kong TVB Plans to Establish Joint Venture to Provide Computing Power Services

Hong Kong Television Broadcasts Limited (also known as "TVB") announced at its board meeting on August 10 that it plans to form a joint venture with Gaw Capital to provide computing power services. The joint venture's ordinary voting shares are proposed to be held 51% by TVB and 49% by Gaw Capital, respectively. The project will be implemented in phases over the coming years, with funding sources including equity investment of up to HKD 2 billion from Gaw Capital into the joint venture, project bank financing, and the Group's internal resources.