The board of directors of Allan International Holdings Limited announces that Mr. Lo Chor Cheong Colin ("Mr. Lo") was appointed as an independent non-executive Director and a member of the audit committee of the Company with effect from 9 September 2022. Mr. Lo, aged 53, is currently a director and shareholder of Foo Hang Jewellery Limited and its family office. He has over 28 years of diamond and gem stone wholesale, jewellery retail, general and financial management experience.

Mr. Lo is also a seasoned property investor. He obtained a Bachelor of Arts honours degree in Economics from York University and is a Graduate Gemologist from the Gemological Institute of America. Mr. Lo is a Hospital Governing Committee member of Grantham Hospital under Hospital Authority, a director of The Hong Kong Tuberculosis Chest and Heart Diseases Association, and an Independent Manager of The Incorporated Management Committee of Tung Wah Group of Hospitals Lo Kon Ting Memorial College.

Save as disclosed above, Mr. Lo has not held any directorship in any listed companies in Hong Kong or overseas in the last three years. Mr. Lo does not hold any position with the Company and its subsidiaries and he does not have any relationship with any directors, senior management, substantial shareholders or controlling shareholders of the Company. As at the date of this announcement, Mr. Lo does not have any interest in shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Mr. Lo has confirmed that he has met the independence guidelines as set out in Rule 3.13 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ("Listing Rules"). Mr. Lo has not entered into any service agreement with the Company and is not appointed for a specific term. He is subject to retirement by rotation in accordance with the Bye-laws and the Listing Rules.

Mr. Lo will hold office until the first annual general meeting of the shareholders of the Company after his appointment and will then be eligible for re-election at such meeting in accordance with the Bye-laws. He is entitled to receive an annual remuneration of HKD120,000 with reference to his duties, responsibilities and the prevailing market conditions. The Board is also pleased to announce that Mr. Lo has been appointed as a member of the Audit Committee of the Company, with effect from 9 September 2022.