What is the legal basis for this resolution?

Approved under Article 209 of the Company Act, with majority shareholder attendance and two-thirds majority vote.

What changes with lifting the non-compete restriction?

Directors can now hold concurrent executive roles, improving operational alignment within the group.

What is the relationship with the mainland entity?

Xiamen Hengda Industrial is a subsidiary responsible for nonwoven fabric manufacturing.

Is there really no conflict of interest?

Since both directors already hold the same roles in the subsidiary, no new conflicts arise.

Are there future governance improvements planned?

The company plans to enhance disclosures and publish governance transparency reports.

Hengda Announces Shareholders' Approval to Lift Non-Competition Restrictions for Directors

Published Jun 26, 2026 9:00 AM ・ Updated Jun 27, 2026 5:24 PM ・ 3 min read ・ Source: PR Times

On June 26, 2026, Hengda's annual shareholders' meeting approved the lifting of non-competition restrictions for directors Huang Mei-Hui and Lin Hua regarding nonwoven fabric businesses. Both directors hold concurrent positions in a mainland subsidiary, with no conflict of interest expected.

1. Shareholders' Meeting Resolution Date: June 26, 2026

2. Names and Titles of Directors Permitted to Engage in Competitive Activities: (1) Director Huang Mei-Hui (2) Director Lin Hua

3. Permitted Competitive Activity: Nonwoven Fabric

4. Duration of Permission: Until the end of the current director term

5. Resolution Outcome (as per Article 209 of the Company Act): The resolution was approved, with over half of the issued shares represented at the meeting and more than two-thirds of the voting rights of attending shareholders in favor.

6. Directors Engaging in Competitive Activities Involving Mainland China Operations (Enter 'Not Applicable' if not applicable): (1) Director Huang Mei-Hui (2) Director Lin Hua

7. Company Name and Position Held in the Mainland China Entity: (1) Huang Mei-Hui serves as Chairman and General Manager of Xiamen Hengda Industrial Co., Ltd. (2) Lin Hua serves as Director of Xiamen Hengda Industrial Co., Ltd.

8. Address of the Mainland China Entity: No. 77 Hongtang Road, Tong'an District, Xiamen City

9. Business Scope of the Mainland China Entity: Nonwoven Fabric

10. Impact on the Company's Financial and Operational Status: Both directors concurrently serve as Chairman and Director of the Company's subsidiary, and thus no conflict of interest is anticipated.

11. Investment Amount and Shareholding Ratio in the Mainland China Entity (if any): None

12. Other Matters to be Disclosed: None

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Source: PR Times
Category: News

Hengda Announces Shareholders' Approval to Lift Non-Competition Restrictions for Directors

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