#Hong Kong #Caravelle Group #High-Trend Group #ocean technology

Caravelle International Group Holds Annual General Meeting

On January 3, 2025, Caravelle International Group, listed on NASDAQ as HTCO, conducted its annual shareholder meeting in Hong Kong. This pivotal occasion laid the groundwork for several important changes designed to foster future growth and strengthen the company’s market position.

During the meeting, shareholders voted overwhelmingly in favor of several proposed strategic adjustments:
1. Name Change: The company will change its name from "Caravelle International Group" to "High-Trend International Group." This change reflects the firm’s commitment to progress and innovation, particularly in the green technology sector.
2. Share Structure Revamp: Shareholders approved the re-designation of 497,500,000 ordinary shares into Class A Ordinary Shares, while 2,500,000 unissued shares will be classified as Class B Ordinary Shares. This restructuring aims to optimize the equity configuration for better alignment with company goals.
3. Updated Memorandum and Articles of Association: The proposed amendments and restatements to the company's governing documents were also accepted, ensuring that they reflect the new strategic direction.
4. Board Changes: A shift in the board of directors was approved with the removal of Mr. Guohua Zhang, signifying a step towards refreshing leadership to facilitate the company’s new vision.

Chairman Jinyu Chang emphasized the significance of this meeting, stating it marks a milestone in the company's development, steering it towards a phase of significant growth. Chang noted that the initiatives will enable the company to optimize its market influence and strengthen its network with strategic partners focused on green solutions.

In addition to these developments, financial results for the fiscal year ending October 31, 2023, were shared, providing shareholders insights into the company's performance. The meeting also served as a platform for discussions between shareholders and management regarding current affairs and future expectations.

Caravelle International Group operates primarily in the global ocean technology sector, focusing on international shipping and promoting marine carbon neutrality. The company's mission is centered around enhancing shipping efficiency through innovative technologies while driving sustainable practices within the maritime industry.

As the company transitions into the High-Trend International Group, it aims to leverage its brand upgrade as a catalyst for further innovation and development within the green technology landscape. By marrying efficiency with sustainability, the newly branded entity intends to create greater value for its customers, shareholders, and partners while fulfilling its commitment to the environment.

These changes signify a proactive response to the evolving market landscape and underscore the company’s dedication to remain at the forefront of the ocean technology sector, embracing new challenges with a focus on environmental sustainability.

In summary, the recent annual meeting not only highlighted key structural changes but also set the stage for an exciting future for Caravelle as it embarks on a new chapter as High-Trend International Group, emphasizing its commitment to innovation and growth in the green sector.