The board of directors of Qingdao Holdings International Limited announced that owing to concern over working life and personal energy limit, Mr. Wong Tin Kit has decided to retire as an Independent Non-executive Director of the Company with effect from the conclusion of the forthcoming annual general meeting. Following his retirement from the Board, Mr. Wong will cease to be the chairman and a member of the Remuneration Committee, a member of the Nomination Committee, and a member of the Audit Committee of the Company.