Tai Ping Carpets International Limited announces that Mr. Yung Lincoln Chu Kuen will retire from the office by rotation at the forthcoming annual general meeting of the Company to be held on 7 December 2023. Mr. Yung informed the Company that he has decided not to offer himself for re-election and will retire as an independent non-executive Director and cease to be a member of the audit committee and the nomination committee of the Company at the conclusion of the AGM. Mr. Yung has been the independent non-executive Director for over 19 years and has decided to retire to devote more time to pursue his personal interests.