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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:
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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.
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Below is a brief biography of Shawn:
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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.
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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).
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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.
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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.
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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.
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About CF Energy Corp. (Previously known as: Changfeng Energy Inc.)
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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.
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