Tai Ping Carpets International Limited at its AGM held on December 7, 2023, announced that Mr. Yung Lincoln Chu Kuen ("Mr. Yung") has served as an independent non-executive director of the Company for over 19 years and being eligible, did not offer himself for re-election and retired by rotation as an independent non-executive director of the Company upon conclusion of the AGM. Following his retirement, Mr. Yung ceased to act as a member of the audit committee (the "Audit Committee") and the nomination committee (the "Nomination Committee") of the Company. The Board also announced that Ms. Yung Ka Sing Kathryn ("Ms. Yung") has been appointed as an independent non-executive director of the Company with effect from the conclusion of the AGM.

The Board further announced that following the appointment of Ms. Yung as an independent non-executive director of the Company, Ms. Yung has been appointed as a member of the Audit Committee and the Nomination Committee with effect from 7 December 2023.