ALCO HOLDINGS (00328) announced with deep sorrow that the Board of Directors has learned of the passing of Mr. He Zeyu, the Company's Executive Director and Authorized Representative as stipulated under Rule 3.05 of the Listing Rules of The Stock Exchange of Hong Kong Limited. His resignation as Executive Director and Authorized Representative took effect on November 25, 2025. The Board has appointed Mr. Zhu Kaiqin, the Company's Independent Non-Executive Director, as the new Authorized Representative with immediate effect.