The board of directors of Alco Holdings Limited announced that with effect from 9 October 2023: Mr. Liang Yanan, aged 33, is appointed as executive director of the Company; Mr. Liang, aged 33, holds a Certificate of Electrical and Mechanical Integrated Technique issued by Jinan University in 2012 and is currently an undergraduate of a bachelor's degree major in Business Administration in the Open University of Guangdong. Since 2012, Mr. Leung has worked as a purchase executive, a manufacturing supervisor and an e-commerce manager in companies in Hong Kong and Mainland China and has extensive working experience in production management, quality control and supply chain coordination. Prior to joining the Company, he is a production manager from 2022 at a subsidiary of a company listed on The Stock Exchange of Hong Kong.

Save as disclosed above, Mr. Liang does not hold any other directorship in the last three years in any listed public companies the securities of which are listed on any securities market in Hong Kong or overseas preceding the date of this announcement. In addition, he does not hold any other positions with the Company or any of its subsidiaries.