ALSO Holding

1. Competitive Risk: The company's operations in more than 20 countries and its business model make ALSO Holding Ltd vulnerable to competitive risk. As the company focuses on technology and business services in countries with different levels of industry development, the company will need to be aware of and competitive to remain successful in many markets.

2. Volatility Risk: The stock market can be volatile and fast-paced, which can increase risk in a particular sector. ALSO Holding Ltd operates in a broad spectrum of sectors, and there is some risk of volatility.

3. Regulatory Compliance Risk: As a publicly listed company, compliance with financial reporting standards and other regulations is vital. The company must be able to ensure full compliance with the laws and regulations of the countries in which it operates, including those related to taxation, accounting, and corporate governance.

4. Industry Risk: ALSO Holding Ltd operates in a number of industries, which could mean that any downturns in one particular industry could lead to a reduced demand for the company's services.

5. Cash Flow Risk: ALSO Holding Ltd will need to ensure that its cash flow remains strong, as any shortfalls could seriously affect its profitability and sustainability.