Anlev Achieves New Milestones for Global Expansion

HONG KONG SAR - Media OutReach - 18 October 2023 - Analogue Holdings Limited ("Analogue" or the "Company", together with its subsidiaries, collectively the "Group") (stock code: 1977), a leading electrical and mechanical ("E&M") engineering service provider in Hong Kong, is pleased to announce its global brand of lifts, escalators and moving walkways, Anlev Elevator Group ("Anlev"), has completed the acquisition of two lift companies in the United Kingdom, achieving another milestone in its strategy to go global.

When Anlev was founded in 1991, it was envisaged "A New Lift and Escalator Vision" and therefore named Anlev. Over the years, Anlev has been expanding its business with the mission to provide safe, comfortable, energy efficient and reliable lifts and escalators to global market. Anlev's strategy into building alliances outside of Hong Kong began in 2019 through an equity acquisition of Transel Elevator & Electric Inc. ("TEI"), one of the largest independent lift and escalator companies in New York. Meanwhile, Anlev (UK) Limited was set up in 2020 to gain a foothold in Europe. Today, Anlev products from its own manufacturing facilities in Nanjing, China are exported to over 20 countries covering six continents serving millions of customers, gaining their long-term trust and support.

To further its global expansion strategy, Anlev has recently completed two acquisitions in the UK market. Anlev now owns 51% of JCW Lifts Limited ("JCW") and 100% of Precision Lift Services Limited ("Precision"), both successful lift businesses in the UK. JCW is based in Yorkshire with focus in London, Manchester, Leeds and other major cities, and a reputation for its skills to install all types of high-rise passenger and goods lifts. Based in Essex, Precision sells and modernises all types of lifts with repair, routine and comprehensive services across the South East England.

Dr Otto Poon Lok-to, Chairman of Analogue Holdings Limited, said, "I am delighted to note our recent success in securing and executing sizeable lift contracts in Manchester, Birmingham and London. With the acquisitions of JCW and Precision, Anlev Elevator Group will provide comprehensive one-stop lift and escalator services for customers in the UK, as well as establishing our position in Europe."

JCW and Precision will be given considerable autonomy while Anlev will provide these two companies with access to a wider array of designs and products to further strengthen their capabilities and businesses – a win-win for all.

"Anlev will continue to explore suitable synergistic business partnerships that align with our strategic goals and values, and seek new distributors to further our global expansion plan," Dr Poon concluded.

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About Analogue Holdings Limited

Established in 1977, Analogue Holdings Limited is a leading electrical and mechanical ("E&M") engineering service provider headquartered in Hong Kong, with operations in Macau, Mainland China, the United States and the United Kingdom. Serving a wide spectrum of customers from public and private sectors, the Group provides multi-disciplinary and comprehensive E&M engineering and technology services in four major segments, including Building Services, Environmental Engineering, Information, Communications and Building Technologies ("ICBT") and Lifts & Escalators.

The Group also manufactures and sells Anlev lifts and escalators internationally and has entered into an alliance with Transel Elevator & Electric Inc. ("TEI"), one of the largest independent lifts and escalators companies in New York, the United States. The Group's associate partner, Nanjing Canatal Data Centre Environmental Tech Company Limited (603912.SS), specialises in manufacturing of precision air conditioners.

About Anlev Elevator Group

Anlev Elevator Group ("Anlev") is a subsidiary of ATAL Engineering Group, specialising in provision of one-stop services from design, manufacturing, sales, installation, service, modernisation to maintenance of all forms of vertical or horizontal transportation systems around the world. Engineered for comfort, safety and energy efficiency, Anlev's complete range of lifts, escalators and moving walkways provide reliable and efficient transport systems for passengers in Asia, Australia, the Americas, Europe and Africa.