Phoenix Shipping (Wuhan) director Wang Hui resigns for personal reasons

Phoenix Shipping (Wuhan) Co., Ltd. recently announced the resignation of Mr. Wang Hui, a non-independent director, effective immediately. Mr. Wang cited personal reasons for his departure and will not hold any further positions within the company. His original term was scheduled to run from February 10, 2023, to February 10, 2026.

The company confirmed that Mr. Wang's resignation will not cause the number of board members to fall below the legal minimum, nor will it impact the board's normal operations or the company's business. Phoenix Shipping (Wuhan) will proceed with the election of a new director in accordance with relevant regulations.

As of the announcement date, Mr. Wang Hui does not directly or indirectly hold any company shares and has no unfulfilled commitments. Following his resignation, he will continue to adhere strictly to regulations regarding share transfers by former directors, supervisors, and senior management for six months after his original term's expiration. The company and the board expressed their sincere gratitude for Mr. Wang's contributions during his tenure.