Hi iv got the same and I love it, best thing ever and my alarm have never gone on, iv call we’re you got it from as it’s still new

Sorry for the delay in response... Yeah, this becoming a common theme with this brand of chest freezer by what I've read and heard and experienced myself.
Mine was replaced under warranty due to the same alarm light being on and the unit not keeping cold. Although it would come good for a while at times before shining the alarm light on again.
A person from Hisense in Australia actually told me it means the compressor is not functioning properly enough to keep the temp setting, so I chose to replace it with another brand new Hisense freezer, which also attracts the 3yr warranty! Hisense seem to be the only brand with an alarm light as such. Which I find a handy feature.
So if yours is still under warranty you'll have it replaced or credited to the store you bought it from. If you read my initial review on my freezer you understand that it can become an arduous exercise to get the ball rolling on a warranty claim, but nonetheless, the claim legally starts on the date you make first contact with them.
Hope this helps...