Phoenix Motor Appoints Veteran Financial Executive Tony Shen as Chief Financial Officer

Rhea-AI Summary

Phoenix Motor (OTC PINK:PEVMD), a manufacturer of heavy-duty transit buses and electrification solutions, has appointed Tony Shen as Chief Financial Officer. Shen brings over 15 years of experience as CFO of U.S.-listed and pre-IPO companies.

Shen's impressive track record includes serving as CFO at HC Financial Group, where he managed $1.2 billion in revenue with 20% annual growth. At DHGate, he led IPO preparation and Series D fundraising, and at Ku6 Media, he raised $100 million and achieved a 300% share price increase. Phoenix Motor has delivered over 1,300 vehicles with 60 million zero-emission miles logged.

Positive

• Appointment of highly experienced CFO with 15+ years of experience in U.S.-listed companies
• New CFO has strong track record of successful capital raising and IPO preparation
• New CFO demonstrated ability to drive significant growth, managing revenue growth to $1.2B
• Company has established market presence with 1,300 vehicles delivered

Negative

• Trading on OTC Pink market indicates lower tier listing status
• Company may need significant capital raising given focus on CFO's fundraising experience

ANAHEIM, CA / ACCESS Newswire / September 2, 2025 / Phoenix Motor Inc. (OTC PINK:PEVMD) ("Phoenix Motor" or the "Company"), a leading manufacturer of heavy-duty transit buses and electrification solutions provider for medium-duty vehicles, today announced the appointment of Tony Shen as Chief Financial Officer (CFO), effective immediately. Shen brings more than 15 years of experience as CFO of U.S.-listed and pre-IPO companies, with a proven track record in building shareholder value, fundraising, and navigating complex global financial markets.

Most recently, Shen served as CFO of HC Financial Group, where he managed finance and operations across 10+ companies, oversaw annual revenue growth of 20% to more than $1.2 billion, and led strategic acquisitions in the insurance and lending sectors. He previously held CFO roles at DHGate, a leading cross-border e-commerce platform, where he guided the company's IPO preparation and Series D fundraising, and at Ku6 Media, a NASDAQ-listed video platform, where he raised $100 million in financing and drove a 300% share price increase through capital market repositioning.

Shen also served as CFO of China BAK Battery and eLong Inc., both U.S.-listed companies, where he delivered operating improvements, raised strategic capital, and achieved first-time profitability milestones. Earlier in his career, Shen held senior finance positions at Solectron (later Flextronics), Digital Equipment Corp., and Siemens AG China. He holds an MBA in Finance from Columbia Business School and a BE in Electrical Engineering from Tsinghua University.

"We are delighted to welcome Tony Shen as CFO at this pivotal time for Phoenix Motor," said Denton Peng, Chairman and CEO of Phoenix Motor. "Tony's extensive experience in guiding high-growth companies through IPOs, capital raising, and operational scaling makes him uniquely qualified to help Phoenix deliver on its vision to lead the electrification of commercial transportation. His background in global finance and strategic partnerships will be instrumental as we expand both domestically through PhoenixEV and internationally through EdisonFuture."

Shen added, "Phoenix Motor has established itself as a recognized leader in zero-emission transit and commercial EVs, with more than 1,300 vehicles delivered and 60 million zero-emission miles logged. I look forward to working with the team to strengthen financial performance, scale operations, and support the company's mission of redefining sustainable transportation in the U.S. and globally."

About Phoenix Motor Inc.

Phoenix Motor Inc. is redefining commercial transportation with smart, zero-emission electric vehicles. Through our two brands - PhoenixEV (America manufacturing for America market) and EdisonFuture (International resources for international market) - we deliver a full range of heavy-, medium-, and light-duty EVs, from transit and shuttle buses to delivery vans and trucks.

With cutting-edge electric drive systems and seamless integration of autonomous driving technologies, Phoenix is driving the future of sustainable transit, logistics, and community mobility - in the U.S. and beyond. To learn more, please visit: phoenixev.ai.

Forward-Looking Statements

This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties. Forward-looking statements can be identified through the use of words such as "may," "might," "will," "intend," "should," "could," "can," "would," "continue," "expect," "believe," "anticipate," "estimate," "predict," "outlook," "potential," "plan," "seek," and similar expressions and variations or the negatives of these terms or other comparable terminology. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company's current expectations and speak only as of the date of this release. Actual results may differ materially from the Company's current expectations depending upon a number of factors. These risk factors include, among others, those related to our ability to raise additional capital necessary to grow our business, operations and business and financial performance, our ability to grow demand for our products and revenue, our ability to become profitable, our ability to have access to an adequate supply of parts and materials and other critical components for our vehicles on the timeline we expect, the coronavirus (COVID-19) and the effects of the outbreak and actions taken in connection therewith, adverse changes in general economic and market conditions, competitive factors including but not limited to pricing pressures and new product introductions, uncertainty of customer acceptance of new product offerings and market changes, risks associated with managing the growth of the business, and those other risks and uncertainties that are described in the "Risk Factors" section of the Company's annual report filed on Form 10-K filed with the Securities and Exchange Commission. Except as required by law, the Company does not undertake any responsibility to revise or update any forward-looking statements.

Contact:

IR@phoenixev.ai

Dave Gentry, CEO
RedChip Companies, Inc.
1-407-644-4256
PEV@redchip.com

SOURCE: Phoenix Motor Inc.

View the original press release on ACCESS Newswire

FAQ

Who is the new CFO of Phoenix Motor (PEVMD)?

Tony Shen has been appointed as the new Chief Financial Officer of Phoenix Motor, effective immediately. He brings over 15 years of experience as CFO of U.S.-listed and pre-IPO companies.

What is Tony Shen's previous experience before joining Phoenix Motor?

Before joining Phoenix Motor, Shen served as CFO of HC Financial Group where he managed $1.2B in revenue, CFO of DHGate where he led IPO preparation, and CFO of Ku6 Media where he achieved 300% share price increase.

How many vehicles has Phoenix Motor (PEVMD) delivered to date?

Phoenix Motor has delivered over 1,300 vehicles and logged 60 million zero-emission miles.

What are Phoenix Motor's (PEVMD) main business operations?

Phoenix Motor is a manufacturer of heavy-duty transit buses and provides electrification solutions for medium-duty vehicles.

What was Tony Shen's most significant achievement at HC Financial Group?

At HC Financial Group, Shen managed finance and operations across 10+ companies and oversaw annual revenue growth of 20% to more than $1.2 billion.