Haoxin Holdings Limited Announces Board of Directors Changes and Nasdaq Compliance Update

About this update from Haoxin Holdings Limited

Company Appoints Two New Independent Directors and Receives 180-Day Extension to Regain Minimum Bid Price Compliance Ningbo, Zhejiang, China--(Newsfile Corp. - July 27, 2026) - Haoxin Holdings Limited (NASDAQ: HXHX) ("Haoxin" or the "Company") today announced several significant corporate governance developments, including changes to its Board of Directors and an update regarding its Nasdaq listing compliance status. Board of Directors Changes Director Resignations Effective July 8, 2026, Haoxin Holdings Limited announced the resignations of two independent directors from its Board. On June 23, 2026, Mr. Bangjie Hu tendered his resignation as an independent director and Chair of the Audit Committee, as well as a member of the Nominating and Compensation Committees [1]. Also on June 23, 2026, Mr. Mikael Charette tendered his resignation as an independent director and Chair of the Compensation Committee, as well as a member of the Nominating and Audit Committees of the Company [2]. Both resignations became effective on July 8, 2026. The Company thanks Mr. Hu and Mr. Charette for their dedicated service and valuable contributions to the Board during their respective tenures. New Independent Director Appointments To fill the vacancies created by the resignations, the Board of Directors took action on July 20, 2026, appointing two new independent directors [3]. Mr. Rohit Phansalkar has been appointed as an independent director and Chair of the Compensation Committee, as well as a member of the Nominating and Audit Committees of the Company [4]. Mr. Phansalkar has had a long and distinguished career in investment banking. He was a Partner and Co-Head of the Energy Finance Group at Shearson American Express, a Managing Director of Bear Stearns & Co., and a Managing Director and Head of the Energy Finance Group at Oppenheimer & Co., where he was also responsible for expanding Oppenheimer's business in Asia. Mr. Phansalkar was the Founding Chairman of NYSE-listed The India Fund, and the Founder, Vice Chairman and CEO of Newbridge Capital, a firm primarily focused on private equity transactions. He also served as Chairman and CEO of Osicom Technologies, an optical networking company listed on Nasdaq. Currently, Mr. Phansalkar is the Chairman and CEO of RKP Capital, Inc., a merchant banking and financial advisory boutique. Over the years, Mr. Phansalkar has ...

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