Cable Broadband (01097) plans to invest 4.5 million US dollars in Korean music festivals

Zhitong Finance App News, Cable Broadband (01097) announced that on July 17, 2026 (after the trading session of the Stock Exchange), PHL, an indirect wholly-owned subsidiary of the company, entered into an investment agreement with OPG HK, OPG US, OPG KR and individual guarantors. Based on this, PHL conditionally agreed to make a financial investment of US$4.5 million (equivalent to HK$35.1 million) in the preparation and operation activities of OPG Group.

The Board believes that the establishment of the investment agreement is in line with the Group's strategy to expand its participation in the entertainment, live events and content ecosystem using its media, content production, digital platforms and audience participation capabilities. The directors believe that the event provides the Group with an opportunity to extend its content creation and distribution activities beyond its traditional TV and media business, and tap the potential synergy between the Group's media platforms, OTT services, advertising networks and commercial partnerships.

The event is part of Electric Daisy Carnival (EDC), a world-renowned music festival brand owned by Insomniac Holdings, LLC. EDC is one of the most famous electronic dance music festival brands in the world, attracting a large number of viewers, famous artists, global sponsors and a large amount of media attention. The board of directors believes that being able to participate in an event of this scale and international popularity will provide the Group with a valuable opportunity to increase its brand exposure, expand its entertainment content portfolio, and develop new business opportunities in the live performance industry.

The directors also believe that the proposed transactions under the investment agreement will complement the Group's continued efforts to explore opportunities involving strategic partnerships with global artists, celebrities, internet celebrities, talent management agencies and lifestyle brands, as well as potential cooperation with international promoters, music festival operators, ticketing platforms and entertainment groups. Through the event, the Group expects to further enter the live performance industry and strengthen its networks and relationships within the broader entertainment ecosystem.