Ocean-KY Shareholders Approve Waiver of Non-Compete Restrictions for Newly Appointed Directors
Key facts
- Ocean-KY Shareholders Approve Waiver of Non-Compete Restrictions for Newly Appointed Directors
- On June 16, 115, Ocean-KY's annual shareholders' meeting resolved to lift non-compete restrictions for five newly appointed directors, allowing them to engage in competitive business activities as long as Ocean-KY's interests are not compromised.
- Source: PR Times
- Date: June 16, 2026
Direct answer
On June 16, 115, Ocean-KY's annual shareholders' meeting resolved to lift non-compete restrictions for five newly appointed directors, allowing them to engage in competitive business activities as long as Ocean-KY's interests are not compromised.
- Citation
- Ocean-KY Shareholders Approve Waiver of Non-Compete Restrictions for Newly Appointed Directors (June 16, 2026), PR Times
- Source
- PR Times
- Date
- June 16, 2026
On June 16, 115, Ocean-KY's annual shareholders' meeting resolved to lift non-compete restrictions for five newly appointed directors, allowing them to engage in competitive business activities as long as Ocean-KY's interests are not compromised.
📋 Article Processing Timeline
- 📰 Published: June 16, 2026 at 09:00
- 🔍 Collected: June 17, 2026 at 17:00 (32h 0m after Published)
- 🤖 AI Analyzed: June 18, 2026 at 17:42 (24h 42m after Collected)
1. Shareholders' Meeting Resolution Date: 115/06/16
2. Names and Titles of Directors Permitted to Engage in Competitive Activities:
Grand Ocean Retail Group Ltd. Director: LEE ENG LEONG
Grand Ocean Retail Group Ltd. Director: Huang Qinghai
Grand Ocean Retail Group Ltd. Independent Director: Li Zhenyu
Grand Ocean Retail Group Ltd. Independent Director: Chen Weihui
Grand Ocean Retail Group Ltd. Independent Director: Li Yaping
3. Permitted Competitive Activities:
Investment in or operation of companies with business scopes identical or similar to the Company's, provided that such activities do not harm the Company's interests.
4. Duration of Permission for Competitive Activities: During the tenure as directors of the Company.
5. Resolution Outcome (Voting Results per Article 209 of the Company Act):
At the Company's 115th annual shareholders' meeting held on June 16, 115, it was approved to lift the non-compete restrictions for the above-mentioned directors, provided that such activities do not harm the Company's interests.
6. Names and Titles of Directors Engaging in Competitive Activities in Mainland China (Enter 'Not Applicable' if not applicable):
(1) Huang Qinghai / Vice Chairman and General Manager of Shanghai United Cement Co., Ltd.; President of Shanglian Cement Group; Chairman and President of Grand Ocean Classic Commercial Group Co., Ltd.; Executive Director of Nanjing Grand Ocean Classic Commercial Co., Ltd., Fuzhou Grand Ocean Commercial Co., Ltd., Quanzhou Grand Ocean Commercial Co., Ltd., Wuhan Grand Ocean Classic Commercial Development Co., Ltd., Wuhan Guanggu Grand Ocean Commercial Development Co., Ltd., Fuzhou City Grand Ocean Classic Commercial Co., Ltd., Hengyang Grand Ocean Commercial Development Co., Ltd., Yichang Grand Ocean Commercial Development Co., Ltd., Hefei Grand Ocean Classic Commercial Development Co., Ltd., Shiyan Guanggu Grand Ocean Commercial Co., Ltd., Shanghai Jingxuan Commercial Management Co., Ltd., Fuzhou Jiaruixing Commercial Management Co., Ltd., Fuzhou Grand Ocean Premium Commercial Co., Ltd., Shanghai Qianshu Commercial Management Co., Ltd.
7. Company Names and Positions Held in Mainland China Businesses:
(1) Huang Qinghai / Vice Chairman and General Manager of Shanghai United Cement Co., Ltd.; President of Shanglian Cement Group; Chairman and President of Grand Ocean Classic Commercial Group Co., Ltd.; Executive Director of Nanjing Grand Ocean Classic Commercial Co., Ltd., Fuzhou Grand Ocean Commercial Co., Ltd., Quanzhou Grand Ocean Commercial Co., Ltd., Wuhan Grand Ocean Classic Commercial Development Co., Ltd., Wuhan Guanggu Grand Ocean Commercial Development Co., Ltd., Fuzhou City Grand Ocean Classic Commercial Co., Ltd., Hengyang Grand Ocean Commercial Development Co., Ltd., Yichang Grand Ocean Commercial Development Co., Ltd., Hefei Grand Ocean Classic Commercial Development Co., Ltd., Shiyan Guanggu Grand Ocean Commercial Co., Ltd., Shanghai Jingxuan Commercial Management Co., Ltd., Fuzhou Jiaruixing Commercial Management Co., Ltd., Fuzhou Grand Ocean Premium Commercial Co., Ltd., Shanghai Qianshu Commercial Management Co., Ltd.
8. Addresses of Mainland China Businesses:
Shanghai United Cement Co., Ltd. / Room 101, Building 27, No. 1388 Zhangdong Road, Shanghai Free Trade Zone, Shanghai, China
Grand Ocean Classic Commercial Group Co., Ltd. / No. 1, Leye Street, Xigang District, Dalian City
Nanjing Grand Ocean Classic Commercial Co., Ltd. / No. 122, Zhongshan South Road, Baixia District, Nanjing, Jiangsu Province, China
Fuzhou Grand Ocean Commercial Co., Ltd. / No. 133, Bayi Qiubei Road, Gulou District, Fuzhou, Fujian Province, China
Quanzhou Grand Ocean Commercial Co., Ltd. / Wenling Road, Fengze District, Quanzhou, Fujian Province, China (Fuhua Commercial Center)
Wuhan Grand Ocean Classic Commercial Development Co., Ltd. / No. 756, Zhongshan Avenue, Jianghan District, Wuhan, Hubei Province, China
Wuhan Guanggu Grand Ocean Commercial Development Co., Ltd. / No. 3, Guanggu Street, Guanggu World City, East Lake High-Tech Development Zone, Wuhan, Hubei Province, China, Zone 1, Room 101
Fuzhou City Grand Ocean Classic Commercial Co., Ltd. / No. 268, Bayi Qiubei Road, Gulou District, Fuzhou, Fujian Province, China
Hengyang Grand Ocean Commercial Development Co., Ltd. / No. 121, Jiefang Road, Yanfeng District, Hengyang, Hunan Province, China
Yichang Grand Ocean Commercial Development Co., Ltd. / No. 56, Yiling Avenue, Yichang, Hubei Province, China
Hefei Grand Ocean Classic Commercial Development Co., Ltd. / Building C, No. 189, Changjiang West Road, Shushan District, Hefei, Anhui Province, China
Shiyan Guanggu Grand Ocean Commercial Co., Ltd. / No. 1, Chaoyang Middle Road, Maojian District, Shiyan, China, 5-1
Shanghai Jingxuan Commercial Management Co., Ltd. / Unit 03, 27th Floor, No. 338, Nanjing West Road, Huangpu District, Shanghai, China
Fuzhou Jiaruixing Commercial Management Co., Ltd. / B1 Level, Dongjie Kou Underground Commercial Street, No. 88, Bayi Qiubei Road, Nanshe Street, Gulou District, Fuzhou, Fujian Province, China
Fuzhou Grand Ocean Premium Commercial Co., Ltd. / Office 03, 11th Floor, International Building, No. 133, Bayi Qiubei Road, Gulou District, Fuzhou, China
Shanghai Qianshu Commercial Management Co., Ltd. / Room L4F-28, No. 600, Mogan Mountain Road, Putuo District, Shanghai
9. Business Activities of Mainland China Entities:
Production and sales of cement-related products; department store operations
10. Impact on the Company's Financial and Business Operations: Not applicable
11. If Directors Have Invested in Mainland China Businesses, Investment Amounts and Shareholding Ratios: Not applicable
12. Other Matters to Be Disclosed: None
2. Names and Titles of Directors Permitted to Engage in Competitive Activities:
Grand Ocean Retail Group Ltd. Director: LEE ENG LEONG
Grand Ocean Retail Group Ltd. Director: Huang Qinghai
Grand Ocean Retail Group Ltd. Independent Director: Li Zhenyu
Grand Ocean Retail Group Ltd. Independent Director: Chen Weihui
Grand Ocean Retail Group Ltd. Independent Director: Li Yaping
3. Permitted Competitive Activities:
Investment in or operation of companies with business scopes identical or similar to the Company's, provided that such activities do not harm the Company's interests.
4. Duration of Permission for Competitive Activities: During the tenure as directors of the Company.
5. Resolution Outcome (Voting Results per Article 209 of the Company Act):
At the Company's 115th annual shareholders' meeting held on June 16, 115, it was approved to lift the non-compete restrictions for the above-mentioned directors, provided that such activities do not harm the Company's interests.
6. Names and Titles of Directors Engaging in Competitive Activities in Mainland China (Enter 'Not Applicable' if not applicable):
(1) Huang Qinghai / Vice Chairman and General Manager of Shanghai United Cement Co., Ltd.; President of Shanglian Cement Group; Chairman and President of Grand Ocean Classic Commercial Group Co., Ltd.; Executive Director of Nanjing Grand Ocean Classic Commercial Co., Ltd., Fuzhou Grand Ocean Commercial Co., Ltd., Quanzhou Grand Ocean Commercial Co., Ltd., Wuhan Grand Ocean Classic Commercial Development Co., Ltd., Wuhan Guanggu Grand Ocean Commercial Development Co., Ltd., Fuzhou City Grand Ocean Classic Commercial Co., Ltd., Hengyang Grand Ocean Commercial Development Co., Ltd., Yichang Grand Ocean Commercial Development Co., Ltd., Hefei Grand Ocean Classic Commercial Development Co., Ltd., Shiyan Guanggu Grand Ocean Commercial Co., Ltd., Shanghai Jingxuan Commercial Management Co., Ltd., Fuzhou Jiaruixing Commercial Management Co., Ltd., Fuzhou Grand Ocean Premium Commercial Co., Ltd., Shanghai Qianshu Commercial Management Co., Ltd.
7. Company Names and Positions Held in Mainland China Businesses:
(1) Huang Qinghai / Vice Chairman and General Manager of Shanghai United Cement Co., Ltd.; President of Shanglian Cement Group; Chairman and President of Grand Ocean Classic Commercial Group Co., Ltd.; Executive Director of Nanjing Grand Ocean Classic Commercial Co., Ltd., Fuzhou Grand Ocean Commercial Co., Ltd., Quanzhou Grand Ocean Commercial Co., Ltd., Wuhan Grand Ocean Classic Commercial Development Co., Ltd., Wuhan Guanggu Grand Ocean Commercial Development Co., Ltd., Fuzhou City Grand Ocean Classic Commercial Co., Ltd., Hengyang Grand Ocean Commercial Development Co., Ltd., Yichang Grand Ocean Commercial Development Co., Ltd., Hefei Grand Ocean Classic Commercial Development Co., Ltd., Shiyan Guanggu Grand Ocean Commercial Co., Ltd., Shanghai Jingxuan Commercial Management Co., Ltd., Fuzhou Jiaruixing Commercial Management Co., Ltd., Fuzhou Grand Ocean Premium Commercial Co., Ltd., Shanghai Qianshu Commercial Management Co., Ltd.
8. Addresses of Mainland China Businesses:
Shanghai United Cement Co., Ltd. / Room 101, Building 27, No. 1388 Zhangdong Road, Shanghai Free Trade Zone, Shanghai, China
Grand Ocean Classic Commercial Group Co., Ltd. / No. 1, Leye Street, Xigang District, Dalian City
Nanjing Grand Ocean Classic Commercial Co., Ltd. / No. 122, Zhongshan South Road, Baixia District, Nanjing, Jiangsu Province, China
Fuzhou Grand Ocean Commercial Co., Ltd. / No. 133, Bayi Qiubei Road, Gulou District, Fuzhou, Fujian Province, China
Quanzhou Grand Ocean Commercial Co., Ltd. / Wenling Road, Fengze District, Quanzhou, Fujian Province, China (Fuhua Commercial Center)
Wuhan Grand Ocean Classic Commercial Development Co., Ltd. / No. 756, Zhongshan Avenue, Jianghan District, Wuhan, Hubei Province, China
Wuhan Guanggu Grand Ocean Commercial Development Co., Ltd. / No. 3, Guanggu Street, Guanggu World City, East Lake High-Tech Development Zone, Wuhan, Hubei Province, China, Zone 1, Room 101
Fuzhou City Grand Ocean Classic Commercial Co., Ltd. / No. 268, Bayi Qiubei Road, Gulou District, Fuzhou, Fujian Province, China
Hengyang Grand Ocean Commercial Development Co., Ltd. / No. 121, Jiefang Road, Yanfeng District, Hengyang, Hunan Province, China
Yichang Grand Ocean Commercial Development Co., Ltd. / No. 56, Yiling Avenue, Yichang, Hubei Province, China
Hefei Grand Ocean Classic Commercial Development Co., Ltd. / Building C, No. 189, Changjiang West Road, Shushan District, Hefei, Anhui Province, China
Shiyan Guanggu Grand Ocean Commercial Co., Ltd. / No. 1, Chaoyang Middle Road, Maojian District, Shiyan, China, 5-1
Shanghai Jingxuan Commercial Management Co., Ltd. / Unit 03, 27th Floor, No. 338, Nanjing West Road, Huangpu District, Shanghai, China
Fuzhou Jiaruixing Commercial Management Co., Ltd. / B1 Level, Dongjie Kou Underground Commercial Street, No. 88, Bayi Qiubei Road, Nanshe Street, Gulou District, Fuzhou, Fujian Province, China
Fuzhou Grand Ocean Premium Commercial Co., Ltd. / Office 03, 11th Floor, International Building, No. 133, Bayi Qiubei Road, Gulou District, Fuzhou, China
Shanghai Qianshu Commercial Management Co., Ltd. / Room L4F-28, No. 600, Mogan Mountain Road, Putuo District, Shanghai
9. Business Activities of Mainland China Entities:
Production and sales of cement-related products; department store operations
10. Impact on the Company's Financial and Business Operations: Not applicable
11. If Directors Have Invested in Mainland China Businesses, Investment Amounts and Shareholding Ratios: Not applicable
12. Other Matters to Be Disclosed: None
FAQ
What was resolved at Ocean-KY's shareholder meeting?
The shareholders approved lifting non-compete restrictions for five new directors, allowing them to invest in or manage similar businesses as long as Ocean-KY's interests are not harmed.
Which directors had non-compete restrictions lifted?
LEE ENG LEONG, Huang Qinghai, Li Zhenyu, Chen Weihui, and Li Yaping. Huang Qinghai holds key positions in multiple mainland China companies.
What businesses in mainland China is Huang Qinghai involved in?
Huang Qinghai is involved in cement production and retail businesses through companies like Shanghai United Cement and Grand Ocean Classic Commercial Group.
How long is the permission for competitive activities valid?
The permission is valid during their tenure as directors of Ocean-KY.
Will this resolution affect Ocean-KY's financials?
The company states there will be no financial or operational impact. Competitive activities are limited to those that do not harm Ocean-KY's interests.