The board of directors of Hing Yip Holdings Limited announced that at the forthcoming 2024 annual general meeting of the Company (the ?2024 AGM?), Mr. You Guang Wu (?Mr. You?), an executive director of the Company (the ?ED?) who will reach the retirement age at the end of the year, will retire as an ED by rotation from office in accordance with the bye-laws of the Company and he will not offer himself for re-election. Accordingly, he will cease to act as an ED and a member of the strategy committee of the Company after the conclusion of the 2024 AGM but will be redesignated as the consultant of the Company. A circular containing, among other things, notice of the 2024 AGM and information about the retirement of Mr. You, together with a form of proxy, will be published on the websites of The Stock Exchange of Hong Kong Limited (the ?Stock Exchange?) and the Company as soon as practicable.

Mr. You has confirmed that he has no disagreement with the Board, and save as disclosed in this announcement, there are no other matters relating to Mr. You that need to be brought to the attention of the shareholders of the Company nor any information that needs to be disclosed pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on the Stock Exchange.