HONG KONG, January 4, 2025 — Caravelle International Group (NASDAQ: HTCO) (the “Company”), a global ocean technology company, announced its annual shareholder meeting took place on January 3, 2025.

Shareholders approved the following: a name change from “Caravelle International Group” to “High-Trend International Group”; reclassification of 497,500,000 ordinary shares into Class A Ordinary Shares and 2,500,000 unissued ordinary shares into Class B Ordinary Shares, resulting in an authorized share capital of US$50,000; adoption of the amended and restated memorandum and articles of association; and the removal of Mr. Guohua Zhang from the board of directors.

Jinyu Chang, Chairman of Caravelle International Group, stated that this meeting marks a significant step, signifying a new phase of growth. The rebranding, equity restructuring, and leverage of High-Trend Group’s market presence in the green sector and its strategic partnerships will drive innovation, improve shipping efficiency, and promote green technologies, ultimately benefiting customers, shareholders, and partners.

The Company shared its financial results for the fiscal year ending October 31, 2023, and provided a forum for shareholders to discuss company matters with management.

About Caravelle International Group

Caravelle is a global ocean technology company involved in international shipping and marine carbon neutrality. The company is dedicated to enhancing shipping efficiency using innovative technologies and fostering sustainable industry practices.

Forward Looking Statements

This announcement includes forward-looking statements as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements, excluding historical facts, regarding objectives, plans, and strategies, and those using terms like “believe,” “expect,” “anticipate,” “future,” “will,” “intend,” “plan,” “estimate,” or similar expressions, are forward-looking statements. These include risks detailed in the Company’s filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F for the fiscal year ended October 31, 2023. These statements involve risks and uncertainties that could significantly affect future results. Should these risks materialize or assumptions prove incorrect, actual results could differ materially. All information is current as of the publication date, and the Company has no obligation to update any forward-looking statement unless required by law.

SOURCE Caravelle International Group