CF Energy Change of CFO

/EIN News/ -- TORONTO, May 13, 2025 (GLOBE NEWSWIRE) -- CF Energy Corp. (TSX-V: CFY) (“CF Energy” or the “Company”, together with its subsidiaries, the “Group”), a leading clean energy service provider in the People’s Republic of China (the ”PRC” or “China”) is pleased to announce the following:

Ms. Ling Cao, Chief Financial Officer of the Company (“CFO”) tendered her resignation as CFO with effect from May 12, 2025 but will continue to serve the Group at the subsidiary level. After careful consideration, the board of directors of the Company (the “Board”) has now appointed Mr. Yongqiang (Shawn) Shan (“Shawn”) as the new CFO with effect from May 12, 2025.

Below is a brief biography of Shawn:

Shawn has over 20 years of financial experience. He is proficient in finance and is a licensed lawyer in the PRC. He worked with the international accounting firm, Price Waterhouse Coopers (PwC) for three years as a senior auditor, laying a solid foundation in accounting and finance.

He has extensive experience in supporting Chinese companies' overseas expansion, with practical achievements in financial management across several countries. Shawn worked at Chery Automobile Co., Ltd. for four years, promoted from financial director of its Malaysia joint venture and director of the Uruguay joint venture to deputy director of its finance department, overseeing overseas subsidiaries, investments, and acquisitions. Managed subsidiaries in Iran (2 factories), Malaysia, Uruguay, Russia, Brazil and Argentina. At Minth Group Limited, Shawn was promoted from regional finance director for Europe and America to overseas finance director, mastering financial management methods for advanced markets. Managed subsidiaries in the U.S. (1 factory + 1 R&D center), Mexico, Thailand (2 factories), Japan (R&D center) and Germany (sales office).

Furthermore, Shawn is familiar with the energy business as he worked at Anton Oilfield Services Group for three years, served as deputy general manager of the financial management center, effectively acting as general manager and overseeing the group's financial operations principally based in Canada, Iraq and Kazakhstan.

Before joining CF Energy, Shawn served as CFO at Donews.com for nine years, leading the company from inception through multiple rounds of financing, achieving a valuation of $900 million with a strong shareholder base.

The Board wishes to welcome Shawn to the Group and is confident that with Shawn’s joining, CF Energy will be able to better achieve value for the Company shareholders.

About CF Energy Corp. (Previously known as: Changfeng Energy Inc.)

CF Energy Corp. is a Canadian public company trading on the Toronto Venture Exchange (“TSX-V”) under the stock symbol “CFY”. It is an integrated energy provider and natural gas utility/distribution company in the PRC. CF Energy strives to combine leading clean energy technology with natural gas usage to provide sustainable energy for its customer base in the PRC.

CONTACT INFORMATION

Yongqiang (Shawn) Shan
Chief Financial Officer
Yongqiang.shan@changfengenergy.cn

Charles Wang
Secretary of the Board
zhaoyu.wang@changfengenergy.cn

Frederick Wong
Director of the Board
fred.wong@changfengenergy.cn

Forward-Looking Statements

Certain statements contained in this news release constitute forward-looking statements and forward-looking information (collectively, “Forward-Looking Statements”). All statements, other than statements of historical fact, included or incorporated by reference in this document are forward-looking statements —including statements regarding activities, events or developments that the Company expects or anticipates may occur in the future. These forward-looking statements can be identified by the use of forward-looking words such as “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “continue”, other similar words and/or the negatives thereof. No assurance is given that the plans, intentions or expectations or assumptions upon which these forward-looking statements are based will prove to be correct and the forward-looking statements included in this news release should not be unduly relied upon. Though management believes that the expectations outlined in such forward-looking statements are reasonable, there can be no assurance that such expectations will materialize. Such-looking statements are not a guarantee of performance and involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance or achievements to deviate materially from the anticipated results, performance or achievements or developments expressed or implied by such forward- looking statements. These factors include, without limitation, significant and continuing adverse changes in general economic conditions or conditions in the financial markets. Readers are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in the Corporation’s filings with applicable Canadian securities regulatory authorities, copies of which are available at www.sedar.com. The Company urges readers to carefully consider these factors. The forward-looking statements included in this news release are made as of the date of this document and the Company disclaims any intention or obligation to update or revise any forward-looking Statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. This news release neither constitutes an offer to sell nor a solicitation of offers to buy any of the securities described herein. Accordingly, undue reliance should not be placed on its contents.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.