What does Chuanfei's non-compete waiver mean?

It means shareholders approved qualified directors to engage in external business roles, reflecting governance flexibility and transparency.

Is this resolution legally compliant?

Yes. It follows Company Act Article 209 and was approved by a special shareholder resolution.

Who is affected by this approval?

Four directors: Fang Jason Kin Hoi, Sit Hon, Zhou Zhi-Ting, and Zhong Yao-Sheng.

Could this create conflicts of interest?

The company states no impact, indicating proper conflict management procedures are in place.

How long is the approval valid?

It remains valid throughout their tenure as directors of Chuanfei.

Chuanfei Announces Shareholder Approval to Waive Directors' Non-Compete Restrictions at 115th Annual General Meeting

Published Jun 25, 2026 9:00 AM ・ Updated Jun 27, 2026 2:55 PM ・ 5 min read ・ Source: PR Times

On June 25, 115, Chuanfei's annual general meeting resolved to permit certain directors to engage in competitive business activities, in compliance with Article 209 of the Company Act, with no impact on the company's financial or operational performance.

1. Date of Shareholder Meeting Resolution: 115/06/25

2. Names and Titles of Directors Permitted to Engage in Competitive Activities: (1) Director, Representative of Tingyang Co., Ltd.: Fang Jason Kin Hoi (2) Director, Representative of Tingyang Co., Ltd.: Sit Hon (3) Independent Director: Zhou Zhi-Ting (4) Independent Director: Zhong Yao-Sheng

3. Approved Competitive Activities: (1) Director: Representative of Tingyang Co., Ltd., Fang Jason Kin Hoi, permitted activities: - Sora Ventures: Founder and Director - Moon Inc. (HKG: 1723): Chairman - AsiaStrategy (NASDAQ: SORA): Chairman - Bitplanet Inc. (KOSDAQ: 049470): Chairman - Chaoyue Holdings Limited: Chairman - Shanjun Co., Ltd.: Chairman - ASTRA Enterprise PCL. (BKK: ASTR): CEO and Director

(2) Director: Representative of Tingyang Co., Ltd., Sit Hon, permitted activities: - Koshin Real Estate Co., Ltd.: Chief Investment Officer

(3) Independent Director: Zhou Zhi-Ting, permitted activities: - Practicing Attorney at China International United Law Firm

(4) Independent Director: Zhong Yao-Sheng, permitted activities: - Practicing Certified Public Accountant and Managing Partner at Yankee United Accounting Firm

4. Duration of Approval: Throughout the period during which the individuals serve as directors of the company.

5. Voting Outcome (in accordance with Article 209 of the Company Act): Resolved with the approval of more than two-thirds of the voting rights held by shareholders representing over half of the issued shares.

6. Directors Engaging in Competitive Activities Related to Mainland China-Based Businesses (if not applicable, state 'Not Applicable'): Not Applicable.

7. Company Name and Position Held in Mainland China-Based Business: Not Applicable.

8. Address of Mainland China-Based Business: Not Applicable.

9. Business Scope of Mainland China-Based Business: Not Applicable.

10. Impact on the Company's Financial and Operational Performance: Not Applicable.

11. Investment Amount and Shareholding Ratio by Directors in Mainland China-Based Businesses (if any): Not Applicable.

12. Other Matters to be Disclosed: None.

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Source: PR Times
Category: News
Organizations: Sora Ventures / Moon Inc. / AsiaStrategy
Dates in source: 115/06/25

Chuanfei Announces Shareholder Approval to Waive Directors' Non-Compete Restrictions at 115th Annual General Meeting

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