Alpha channel is being applied in an increasing number of mobile web applications on mobile devices that require ultra-low power consumption in all cases including compute-intensive video encoding and decoding. Thus, we propose an ultra-low coding complexity and high efficiency alpha channel lossless coding approach. A novel coding framework and four new coding schemes are proposed for alpha channel coding. The framework fuses a string matching technique and a proposed prediction coding scheme named bit-depth preserving prediction (BDPP) together to reduce the correlations within and between repeated identical patterns and neighboring pixels. To achieve a good tradeoff between complexity and efficiency, either the unmatchable bytes are coded directly or the BDPP residuals of unmatchable bytes are coded by a proposed bytewise entropy coding scheme named 0.5-1-2byte-size-code. The other string matching parameters are coded by another proposed bytewise entropy coding scheme named byte-size multi-variable-length-code. To speed up the string-matching search, we apply a fast string search scheme that combines special position search and hash-based search. For the selected typical 236 alpha test images, compared with x265 in the fastest configuration and lossless mode, the proposed lossless approach achieves 14.33% less total compressed bytes with only 2.75% encoding and 1.83% decoding runtime. The proposed approach also outperforms the conventional lossless coding techniques such as LZ4HC, ZLIB, and PNG.