Kai Yuan Holdings Limited updated its shareholders and investors that with effect from 16 January 2021, a new tighter night curfew starting from 6 pm has been imposed by the French government for at least 15 days. The number of COVID-19 infections in France remains at a level of "high plateau", and although vaccination programme has commenced, the pace is relatively slow. In addition, the presentation of a negative COVID-19 test result remains mandatory before boarding planes to France. Accordingly, the Board has decided to further delay the Hotel's re-opening. Given first quarter of the year has been the traditional low season even before the COVID-19 pandemic, the earliest date to consider re-opening the Hotel will be in March 2021. The Board might consider further delaying the re-opening date depending on the then circumstances.