Phoenix Shipping to hold EGM on November 20 for key appointments, financial decisions

Phoenix Shipping (Wuhan) Co., Ltd. will hold its third extraordinary general meeting of shareholders for 2025 on November 20, 2025, at 2:30 PM in Wuhan. The meeting will utilize a combination of on-site voting and online proxy voting. Key agenda items include the re-appointment of Grant Thornton Certified Public Accountants (Special General Partnership) as the company's 2025 financial and internal control auditor and the election of Ms. Yang Hui as a non-independent director to the ninth board of directors. The board approved both proposals, which are now submitted for shareholder approval.

The company plans to re-engage Grant Thornton Certified Public Accountants for a one-year term, with the board authorized to determine the audit fees based on actual business conditions. Additionally, the board has approved using idle funds not exceeding yuan 50 million for cash management by investing in low-risk financial products. This initiative aims to enhance capital utilization and increase investment returns without affecting normal operations, and does not require shareholder approval.

Ms. Yang Hui is nominated to replace Mr. Wang Hui, who resigned due to personal reasons. Ms. Yang, a certified public accountant with extensive experience, is currently the financial planning manager at Changzhi Nanye Industrial Group Co., Ltd., the company's controlling shareholder. Her appointment will begin immediately upon shareholder approval and will continue until the end of the ninth board's term.