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NF Energy Saving Corporation Announces Shareholders' Approval of Name Change to BOQI International Medical Inc. and Voting Results from 2019 Annual Meeting of Shareholders

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New York, Nov. 15, 2019 (GLOBE NEWSWIRE) -- NF Energy Saving Corporation (BIMI) (“BIMI” or the "Company") today announced voting results from its 2019 Annual Meeting of Shareholders.

At the Company’s Annual Meeting of Shareholders held on November 15, 2019, the shareholders of the Company voted to (i) elect the seven individuals named below to serve as directors of the Company to hold office until the Annual Meeting of Shareholders to be held in 2020 and until their successors have been duly elected and qualified, (ii) approve the amendment to the Company’s Certificate of Incorporation to change the name of the Company to BOQI International Medical Inc., (iii) approve, on an advisory vote, the Company’s Say on Pay Vote, (iv) approve, on an advisory basis, one year as the frequency of the Company’s Say When on Pay Vote, and (v) ratify the appointment of HHC, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 28, 2019.

1.

The votes cast by shareholders with respect to the election of directors were as follows:


For

Withheld

Broker
Non-Votes

Yongquan Bi

7,336,306

367

546,022

Gang Li

7,336,306

367

546,022

Tiewei Song

7,336,211

462

546,022

Changqing Yan

7,336,214

459

546,022

Mia Kuang Ching

7,336,219

454

546,022

Ju Li

7,336,330

343

546,022

Fengsheng Tan

7,336,311

362

546,022


2.

The votes cast by shareholders with respect to the amendment to the Company’s Certificate of Incorporation to change the name of the Company to BOQI International Medical Inc. were as follows:


For

Against

Abstain

Broker
Non-Votes

5,398,172

2,375,087

17,233

546,022


3.

The votes cast by shareholders with respect to the non-binding advisory vote approving named executive officer compensation were as follows:


For

Against

Abstain

Broker
Non-Votes

4,958,458

2,377,347

868

546,022


4.

The votes cast by shareholders with respect to non-binding advisory vote approving the frequency of future advisory votes on the resolution approving named executive officer compensation were as follows:


One Year

Two Years

Three Years

Abstain

Broker
Non-Votes

7,328,540

6,356

1,614

163

546,022


5.

The votes cast by shareholders with respect to the ratification of the selection of HHC, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 28, 2019 were as follows:


For

Against

Abstain

Broker
Non-Votes

6,324,992

1,540,350

17,353

"The Annual Meeting of Shareholders today was a milestone for us. Changing our name to BOQI International Medical Inc. reflects our new strategic focus on becoming a consumer-centric healthcare company," said Mr. Tiewei Song, the Chief Executive Officer and President of NF Energy Saving Corporation. "The management team is committed to providing accessible and high-quality healthcare to our consumers, and creating growth initiatives to position our company for a long-term success."

About NF Energy Saving Corporation
NF Energy Saving Corporation (BIMI) is a China-based provider of integrated energy conservation solutions utilizing energy-saving equipment, technical services and energy management re-engineering project operations to provide energy saving services to clients. In February 2019, the Board of Directors of the company was reorganized following efforts led by Mr. Yongquan Bi, the company’s new Chairman, with a renewed focus on the health industry.

Safe Harbor Statement
The statements contained herein that are not historical facts are considered "forward-looking statements." Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In particular, statements regarding the efficacy of investment in research and development are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the effect of political, economic, and market conditions and geopolitical events; legislative and regulatory changes that affect our business; the availability of funds and working capital; the actions and initiatives of current and potential competitors; investor sentiment; and our reputation. We do not undertake any responsibility to publicly release any revisions to these forward-looking statements to take into account events or circumstances that occur after the date of this report. Additionally, we do not undertake any responsibility to update you on the occurrence of any unanticipated events, which may cause actual results to differ from those expressed or implied by any forward-looking statements. The factors discussed herein are expressed from time to time in our filings with the Securities and Exchange Commission available at http://www.sec.gov.

IR Contact:
Dragon Gate Investment Partners LLC
Tel: +1(646)-801-2803
Email: BIMI@dgipl.co