[8-K] Graphjet Technology Reports Material Event

Rhea-AI Filing Summary

Phoenix Motor Inc. (PEV) filed a Form 8-K reporting the resignation of Chief Financial Officer Michael Yung, effective 2 Aug 2025. The company states Mr. Yung left for personal reasons and had no disagreements regarding the firm’s operations or accounting practices.

CEO Denton Peng will serve as interim principal financial and accounting officer while the Board undertakes an internal and external search for a permanent replacement. No additional financial results or business updates were included.

The filing also notes that trading of Phoenix Motor’s common stock was suspended on Nasdaq on 15 Apr 2025 and shares now quote on the OTC Pink under the symbol PEVMD.

Positive

• Board has committed to a formal search for an experienced CFO, signalling intent to restore financial leadership stability.

Negative

• CFO Michael Yung’s resignation removes the company’s top financial officer with immediate effect.
• CEO assuming interim CFO role concentrates key management duties, potentially stressing internal controls.

Insights

Corporate Governance Expert

TL;DR: Sudden CFO exit heightens governance risk; interim CEO dual-hat may worry investors.

The unexpected resignation of the CFO at a micro-cap EV maker already delisted from Nasdaq compounds oversight concerns. Even though the company claims no accounting disagreements, losing a key financial steward without an immediate successor can disrupt reporting processes and lender confidence. CEO Denton Peng’s assumption of CFO duties creates high key-person concentration and potential internal control strain until a qualified finance chief is hired.

Financial Analyst

TL;DR: Leadership gap is notable but no direct financial data provided; impact modest near term.

While management turnover is negative, the filing lacks earnings or liquidity metrics, limiting quantitative assessment. Investors will monitor how quickly the board secures an experienced CFO and whether the change affects audit timelines or capital-raising plans. Given shares already trade OTC, market reaction may be muted unless follow-up disclosures reveal operational fallout.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 31, 2025

Graphjet Technology

(Exact name of registrant as specified in its charter)

Cayman Islands		001-41070		N/A
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification Number)

Lot 3895, Lorong 6D, Kampung Baru Subang

Seksyen U6, 40150 Shah Alam

Selangor, Malaysia

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: +60 016 310 0895

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A ordinary shares, par value $0.0001 per share		GTI		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.07 Submission of Matters to a Vote of Security Holders.

Graphjet Technology (the “Company”) previously scheduled an extraordinary general meeting (the “EGM”) of the shareholders (the “Shareholders”) of the Company, to be held on July 30, 2025, at 9:00 a.m. Eastern Time, to be conducted via live webcast at https://www.cstproxy.com/graphjettech/2025 and telephone access, as disclosed in the Company’s definitive proxy statement filed with the U.S. Securities and Exchange Commission on July 11, 2025 (the “Proxy Statement”), which was later adjourned to August 1, 2025, and then to August 5, 2025.

On August 4, 2025, the Company determined to adjourn the EGM to August 7, 2025. The adjournment was made in order to allow additional time for shareholders to vote on all proposals described in the Proxy Statement.

The reconvened EGM will now be held on August 7, 2025, at 9:00 a.m. Eastern Time. The record date for the EGM remains July 3, 2025, and all proposals and materials previously described in the Proxy Statement remain unchanged.

Shareholders who have already submitted proxies or voted do not need to take any further action unless they wish to change their vote. Proxies previously submitted will be voted at the reconvened EGM unless properly revoked.

Item 8.01. Other Events.

As mentioned above, on July 11, 2025, the Company filed the Proxy Statement setting forth the proposals to be considered and voted upon by the Shareholders at the EGM. One of the proposals in the Proxy Statement seeks to obtain approval from the Shareholders to effect the consolidation of every issued and unissued ordinary share, par value $0.0001 per share, of the Company, at a ratio within a range of not less than 1-for-50 and not greater than 1-for-150 (the “Share Consolidation”), with the exact ratio to be determined by further action at the discretion of the Company’s board of directors (the “Board”).

The Proxy Statement further indicated that, subject to approval by the Shareholders, the Share Consolidation was expected to become effective on or prior to August 13, 2025 (the “Effective Date”). However, as previously disclosed, the EGM was adjourned from July 30, 2025 to August 7, 2025, and therefore the Effective Date is no longer applicable.

The Company intends to implement the Share Consolidation, if approved by the Shareholders, following the reconvened EGM, subject to the Board’s discretion and final determination of the timing. A revised effective date will be announced in a subsequent filing.

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Cautionary Statement Regarding Forward-Looking Statements

The information in this Current Report on Form 8-K contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “aim,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this Current Report on Form 8-K, including but not limited to: (i) changes in the markets in which the Company competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk that the Company will need to raise additional capital to execute its business plans, which may not be available on acceptable terms or at all; (iii) The Company is beginning the commercialization of its technology and it may not have an accurate estimate of future capital expenditures and future revenue; (iv) statements regarding the Company’s industry and market size; (v) financial condition and performance of the Company, including the anticipated benefits, the implied enterprise value, the financial condition, liquidity, results of operations, the products, the expected future performance and market opportunities of the Company; (vi) The Company’s ability to develop and manufacture its graphene and graphite products; (vii) The Company’s ability to return to and maintain compliance with Nasdaq continued listing standards; and (viii) those factors discussed in our filings with the SEC. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the “Risk Factors” section of the documents to be filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward- looking statements, and while the Company may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. The Company does not give any assurance that it will achieve its expectations.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit		Description
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

* Certain exhibits and schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company hereby undertakes to furnish a copy any of the omitted exhibits or schedules upon request by the SEC.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	GRAPHJET TECHNOLOGY
Date: August 5, 2025	By:	/s/ Chris Lai
	Name:	Chris Lai
	Title:	Chief Executive Officer

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FAQ

Why did Phoenix Motor (PEV) CFO Michael Yung resign?

The Form 8-K states Mr. Yung resigned on 2 Aug 2025 for personal reasons with no disagreements on accounting or operations.

Who will handle Phoenix Motor’s financial duties after the resignation?

CEO Denton Peng will act as principal financial and accounting officer until a new CFO is appointed.

Did Phoenix Motor report any accounting issues related to the resignation?

The company specifically noted there were no disagreements regarding accounting policies or practices.

Where is Phoenix Motor’s stock currently traded?

After Nasdaq suspended trading on 15 Apr 2025, shares moved to the OTC Pink Limited Market under the symbol PEVMD.

What is the effective date of the CFO’s departure?

Michael Yung’s resignation became effective on 2 Aug 2025.