QPL International Holdings Limited announced with deepest sorrow that Mr. Li Tung Lok, the chairman of the Board, an executive director, the chief executive, a member of remuneration committee and an authorised representative of the Company, passed away on 2 September 2023. Mr. Li served as the chairman of the Board and a director of the Company since 1989 and had made tremendous contributions during his tenure of office. The Board would like to express its heartfelt appreciation for the late Mr. Li's invaluable leadership, guidance and contribution to the Company and convey its sincere condolences to his family.

The Company will appoint a new chairman of the Board in due course and further announcement will be made as and when appropriate. The Board is of the view that the passing away of Mr. Li will not have any material impact on the operations of the Company.