The board of directors of Alco Holdings Limited announces that Mr. Liang Yanan ("Mr. Liang") resigned as executive director, chairman, authorized representative of the Company ("Authorized Representative") for purpose of Rule 3.05 of The Rules Governing the Listing of Securities ("Listing Rules") on The Stock Exchange of Hong Kong Limited ("Stock Exchange"), and authorized representative for accepting service of process and notices in Hong Kong on behalf of the Company for the purpose of Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) ("Process Agent") with effect from 8 April 2024, due to his other business commitment. The Board announce that Ms. Liao Liping (Ms. Liao), has been appointed as the executive director of the Company, with effect from 8 April 2024. Ms. Liao, aged 48, obtained a certificate of social music in department of art issued by Gannan Normal University in July 1996.

She has over 27 years of experience in banking, investment and education. She worked as general manager of Ganzhou Youbeibei Education Consulting Co. Ltd. from May 2018 to March 2023; deputy general manager of Jiangxi Wenqin Education Investment Co.

Ltd. from January 2013 to April 2018; and manager of risk management department of Ganzhou Bank Co. Ltd. from July 1996 to December 2012.