Yes. You are correct.
As well as please ensure that after stopping the system, and before starting the system after the kernel upgrade, ensure that no SAP processes like sapstartsrv .... etc are running. If yes, please kill them...
Try to update 720 kernel PLUS the files that have been mentioned above.
dw_414-20005192.sar
dw_utils_412-20005192.sar
sapstart_413-20005192.sar
I see the latest patch for 720 kernel is 401.. Please download that patch. and install it.
Please check and provide your feedback.