Caravelle International Group Announces New CEO and Audit Committee Chair to Trailblaze Shipping Decarbonization and Carbon Asset Management Platform

SINGAPORE, Jan. 14, 2025 /PRNewswire/ -- Caravelle International Group (NASDAQ: HTCO), a global ocean technology company, today announced appointment of Shixuan He as the Company's Chief Executive Officer and Xuanhua Xi as an independent director and Chairman of the Audit Committee. These strategic appointments are aimed at driving the company's transition towards sustainable maritime practices and enhancing its management systems.

Mr. He, with his 15 years of management experience, has accumulated rich industry insights and exceptional leadership skills. His career has spanned large-scale diversified holding groups, rapidly growing intelligent and connected innovation enterprises, and the new energy and low-carbon field, demonstrating his adaptability and strategic vision in various business environments and achieving outstanding results in expanding business cooperation with multiple international well-known enterprises. In 2014, after joining High-Trend Technology Co., Ltd. as CEO, Mr. He led the development of the smart streetlight project and introduced the innovative concept of "one road, one network, one platform" for urban infrastructure IoT. In 2015, he collaborated with General Electric (GE) to build China's first large-scale smart streetlight IoT platform project, with a total investment of 200 million RMB. Building on the success of this project, he signed a global strategic cooperation agreement with GE at the 6th China-US Energy Efficiency Forum, witnessed by the National Development and Reform Commission of China and the U.S. Department of Energy. This agreement facilitated the global promotion of both parties' R&D achievements. In 2019, the cooperation results of this project were successfully replicated in the Brazilian market, achieving significant project outcomes. In 2020, Mr. He focused on new energy and low-carbon emission reduction projects, pioneering multiple projects in the field of green biomass energy and carbon asset development.

Ms. Xi possesses extensive experience in the field of professional financial services, particularly excelling in financial innovation. She has held senior management positions in several well-known financial institutions, accumulating profound professional knowledge and practical experience. Ms.Xi has been serving as the Chief Risk officer of DigiFT Technology Group, a Singapore-based on-chain capital market operation and service provider, since December 2024. She served as the Deputy Chief Executive Officer of Neutral Financial Holding Company Limited, a Hong Kong-based licensed financial service provider, from July 2024 to December 2024. Previously, she served as the Deputy Chief Executive Officer of BOCOM International Holdings Co., Ltd., a Hong Kong-based and listed financial service provider, from July 2017 to December 2023. She was also the General Manager of BOCOM International (Shanghai) Equity Investment Management Co., Ltd., an investment management company, from November 2020 to January 2022. From March 2015 to July 2017, she served as the General Manager of BOCOM International Securities Ltd., a company providing securities brokerage services.

Mr. Jinyu Chang, Chairman of the Board expressed that we are delighted to announce the addition of Mr. He and Ms. Xi to the leadership team at the company. Mr. He's strategic vision and extensive experience will inject strong momentum into our sustainable development strategy; Ms. Xi's exceptional leadership in financial innovation and global perspective will further enhance our competitiveness in the capital markets.

These appointments come at a significant time as the company is focused on enhancing its management systems and committing to ocean carbon neutrality. The new leadership will guide company in leveraging cutting-edge technology and finance integration to achieve sustainable development and create substantial opportunities for long-term growth and shareholder value.

About Caravelle International Group

Caravelle is a global ocean technology company with businesses in international shipping and marine carbon neutrality. The company is committed to improving shipping efficiency through innovative technologies and promoting sustainable development in the industry.

Forward Looking Statements

This announcement contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that include the words "believe," "expect," "anticipate," "future," "will," "intend," "plan," "estimate" or similar expressions, are "forward-looking statements". Such statements include, but are not limited to risks detailed in the Company's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F for the fiscal year ended October 31, 2023. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. All information provided in this press release is as of the date of the publication, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

SOURCE Caravelle International Group