Phoenix Asia increases size of board of directors by two

Phoenix Asia (PHOE) announces a significant update in its board of directors. Phoenix Asia announces the increase in the size of its Board of Directors by two, bringing the total number of directors to seven and the appointment of Yafei Xie as non-independent director and Yaqiao Xie as independent director to its Board of Directors. Yafei Xie has over 10 years of experience in the capital market. Yaqiao Xie has over 10 years of experience in business administration.