Phoenix Motor Inc (PEV) Appoints Michael Yung as CFO

April 18, 2024 5:57 AM EDT

Phoenix Motor Inc. (NASDAQ: PEV), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today announced the appointment of Michael Yung as its new Chief Financial Officer (CFO), effective April 17, 2024.

Yung brings over 25 years of financial leadership and strategic business acumen to Phoenix Motor. Before joining Phoenix Motor, Yung served as the CFO at PingTan Marine Enterprise Ltd., where he managed SEC filings, investor relations, and was instrumental in conducting financial audits and due diligence for mergers and acquisitions. His seasoned expertise was also demonstrated during his tenure as the Managing Director for Asia at European American Capital, where he successfully initiated new regional operations and managed high-value commodity transactions.

Previously, Yung was a Senior Vice President at UBS Paine Webber where he established and led a profitable division specializing in Asian financial markets, achieving profitability within two years-18 months ahead of schedule. His experience also includes being a top revenue producer at Citicorp Investment Services, where he managed a significant portfolio and led a team to exceed sales targets substantially.

"We are thrilled to welcome Michael to our executive team," said Denton Peng, CEO of Phoenix Motor. "His extensive financial expertise and proven leadership capabilities make him an invaluable asset to our company. Michael's vision for financial excellence aligns perfectly with our goals of enhancing operational efficiency and boosting market expansion as we continue to forge our leadership position in the rapidly expanding commercial EV sector."

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