[Richpower] Shareholder Meeting Announcement on Waiver of Non-Compete Obligations for New Directors
Richpower approved the waiver of non-compete obligations for six directors during the May 22, 2026, shareholder meeting. This allows them to concurrently hold positions in competing energy and electronics firms.
📋 Article Processing Timeline
- 📰 Published: May 22, 2026 at 09:00
- 🔍 Collected: May 23, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 23, 2026 at 08:18 (18 min after Collected)
1. Date of Shareholder Meeting Resolution: May 22, 2026
2. Directors Granted Non-Compete Waiver:
Director: Guo Shoufu (Representative of Chenwei Energy)
Director: Lin Kunhuang (Representative of Chenwei Energy)
Director: Bu Qingfan (Representative of Chenwei Energy)
Director: Hao Xiapeng
Independent Director: Chen Ruizhu
Independent Director: Wang Xuqi
Independent Director: Jiang Chengrong
3. Permitted Business Scope: Companies with business scopes identical or similar to ours.
4. Permitted Period: During their tenure as directors.
5. Resolution Status: Approved with 37,977,886 votes in favor (98.57% of attendance).
6. Concurrent positions in Mainland China: Applicable to Directors Guo, Lin, and Bu.
7. Selected Concurrent Positions:
Guo Shoufu: Legal Representative/GM of Kunshan Fuji Jin Electronics Co., Ltd.; Director of Changzhou Xinwei Auto Investment Co., Ltd.
Lin Kunhuang: Holds various executive roles including Director/Chairman/GM across subsidiaries like Fugang Electronics (Dongguan/Kunshan) and Fuchang Electronics.
Bu Qingfan: Legal Representative/GM of Fugang Electronics (Dongguan); holds various supervisory and director roles in affiliated companies.
2. Directors Granted Non-Compete Waiver:
Director: Guo Shoufu (Representative of Chenwei Energy)
Director: Lin Kunhuang (Representative of Chenwei Energy)
Director: Bu Qingfan (Representative of Chenwei Energy)
Director: Hao Xiapeng
Independent Director: Chen Ruizhu
Independent Director: Wang Xuqi
Independent Director: Jiang Chengrong
3. Permitted Business Scope: Companies with business scopes identical or similar to ours.
4. Permitted Period: During their tenure as directors.
5. Resolution Status: Approved with 37,977,886 votes in favor (98.57% of attendance).
6. Concurrent positions in Mainland China: Applicable to Directors Guo, Lin, and Bu.
7. Selected Concurrent Positions:
Guo Shoufu: Legal Representative/GM of Kunshan Fuji Jin Electronics Co., Ltd.; Director of Changzhou Xinwei Auto Investment Co., Ltd.
Lin Kunhuang: Holds various executive roles including Director/Chairman/GM across subsidiaries like Fugang Electronics (Dongguan/Kunshan) and Fuchang Electronics.
Bu Qingfan: Legal Representative/GM of Fugang Electronics (Dongguan); holds various supervisory and director roles in affiliated companies.
FAQ
What is the waiver of non-compete obligations?
It is a requirement for directors to obtain shareholder approval when holding concurrent positions in competing companies to address potential conflicts of interest.
Why is this resolution necessary?
It is an essential governance procedure for executives to legally perform dual roles in related companies.
What does this mean for shareholders?
It ensures transparency in directors' activities and confirms the legality of corporate operations.