Phoenix Shipping shareholders approve governance updates, strategic investments

Phoenix Shipping (Wuhan) Co., Ltd. announced the results of its second extraordinary general meeting of shareholders for 2025, held on October 30, 2025. The meeting, which combined in-person and online voting, saw 413 shareholders representing 38.1849% of the company's total share capital, participate.

Shareholders overwhelmingly approved key proposals, including revisions to the Articles of Association, Shareholder Meeting Rules, Board of Directors Meeting Rules, and Independent Director Work System, with approval rates generally exceeding 82%. Other significant governance documents, such as the Management Methods for External Guarantees, External Investment, Connected Transactions, and Raised Funds, also received strong support.

Notably, the proposal to apply for loans from related parties was passed with 94.4171% of votes, excluding related parties from the vote. The plan to acquire dry bulk vessels also gained approval with 82.1380% of votes. The meeting was deemed legal and valid by Guohao Law Firm (Wuhan).