The board of directors of Ta Yang Group Holdings Limited announced that the Group has resolved to commence its business of retail services in the United Kingdom and launching the Group's silicone products directly to the end customers. In order to diversify the business portfolio and to broaden the income base, the Group has long been studying opportunities to expand from its core business which is designing and manufacturing of silicone rubber products to other prospective segments. During the Covid- 19 pandemic, the Group has noticed an increasing demand for qualitied and life-styled products when people are spending significantly more time at home.

The Business of Retail Services will mainly focus on retailing and marketing the products manufactured in the Group's own silicone business and supplemented by other related products depending on the prevailing market trends from time to time. The Board is of the view that commencement of the Business of Retail Services is an organic extension of the Group's silicone manufacturing business and may ultimately increase profitability of the Group, enhance the Group's visibility and create value for the Shareholders, and therefore in the interests of the Company and the Shareholders as a whole.