The board of directors of Alco Holdings Limited announced that Mr. LIU Lup Man has tendered his resignation as an executive director, the company secretary and an authorised representative (pursuant to rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules")) (the "Authorised Representative") of the company with effect from 1 February 2020. As Mr. Stephen LIU wishes to spend more time with his family and to pursue his other interests, he has decided to resign from the Board. The Board further announced that Mr. LIU Hoi Keung ("Mr. Gary LIU") has been appointed as an executive director, the company secretary and an Authorised Representative of the Company with effect from 1 February 2020. Mr. Gary LIU, has over 30 years of experience in the field of auditing, accounting, finance, management and secretarial work, over 15 years of which were gained from working as directors in manufacturing companies listed on the Stock Exchange. Mr. Gary LIU is currently the company secretary of Tungtex (Holdings) Company Limited.