In the news release, Caravelle International Group Appoints
Jinyu Chang as Chairman and Xin He As An Independent Director,
issued 30-Oct-2024 by Caravelle
International Group over PR Newswire, we are advised by the company
that the second paragraph, third sentence, should read "The
company's projects encompass small cell 5G tower rentals, IoT
devices, Wi-Fi zones, and cameras, with project financings
exceeding USD$300 Million." rather
than "The company's projects encompass small cell 5G tower rentals,
IoT devices, Wi-Fi zones, and cameras, with project financings
exceeding US$300" as originally
issued inadvertently. The complete, corrected release follows:
Caravelle International Group Appoints Jinyu Chang as Chairman and
Xin He As An Independent Director
SINGAPORE, Oct. 30,
2024 /PRNewswire/ -- Caravelle International
Group (NASDAQ: HTCO), a global ocean technology
company, today announced the appointment of Jinyu Chang as Chairman of the Board of
Directors and Xin He as an independent director and Chair of
the Audit Committee. These strategic appointments come at a pivotal
moment as the Company is focused on enhancing its internal
management systems and advancing its commitment to ocean carbon
neutrality.
Mr. Chang is a Co-Founder of High Trend International, an
investment holding company with a significant footprint in smart
city and smart lighting initiatives. Through various joint
ventures, High Trend International has become one of the largest
concession holders in Latin
America, operating and developing approximately 1,000,000
lighting points. The company's projects encompass small cell 5G
tower rentals, IoT devices, Wi-Fi zones, and cameras, with project
financings exceeding USD$300 Million. With over 20 years of
experience in smart city development, Mr. Chang is poised to
provide invaluable insights into the maritime industry's transition
towards sustainability.
Mr. He has served as the CFO for Wanda America Entertainment
Inc. since May 2012. He has overseen
the development of the iconic 101-story "Vista Tower" in
Chicago and the $2.6 billion acquisition of AMC Entertainment
Inc. Mr. He's expertise extends to multiple executive roles at
Professional Diversity Network Inc. (Nasdaq: IPDN) since 2019. His
background in public companies and cross-border mergers and
acquisitions makes him an asset to our company.
The appointments of Mr. Chang and Mr. He reflect Caravelle
International Group's dedication to strengthening its internal
management systems and promoting sustainable business
practices.
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.
Caravelle is headquartered in Singapore.
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, 2022. 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.
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SOURCE Caravelle International Group
