[Sheng Mao] Announcement of Resolution on Lifting Restrictions on Directors' Non-Competition at the 115th Shareholders' Meeting
Key facts
- [Sheng Mao] Announcement of Resolution on Lifting Restrictions on Directors' Non-Competition at the 115th Shareholders' Meeting
- Sheng Mao's 115th shareholders' meeting passed a resolution to lift restrictions on directors' non-competition. However, the outcome indicated no such need, thus no restrictions were lifted. This resolution has no impact on the company's finances or business operations.
- Source: PR Times
- Date: June 11, 2026
Direct answer
Sheng Mao's 115th shareholders' meeting passed a resolution to lift restrictions on directors' non-competition. However, the outcome indicated no such need, thus no restrictions were lifted. This resolution has no impact on the company's finances or business operations.
- Citation
- [Sheng Mao] Announcement of Resolution on Lifting Restrictions on Directors' Non-Competition at the 115th Shareholders' Meeting (June 11, 2026), PR Times
- Source
- PR Times
- Date
- June 11, 2026
Sheng Mao's 115th shareholders' meeting passed a resolution to lift restrictions on directors' non-competition. However, the outcome indicated no such need, thus no restrictions were lifted. This resolution has no impact on the company's finances or business operations.
📋 Article Processing Timeline
- 📰 Published: June 11, 2026 at 09:00
- 🔍 Collected: June 12, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: June 12, 2026 at 17:53 (9h 53m after Collected)
2. Names and Titles of Directors Permitted to Engage in Competitive Acts: None
3. Items Permitted for Competitive Acts: None
4. Period for Permitted Competitive Acts: During their tenure as directors of this company.
5. Resolution Details (Explain the voting results in accordance with Article 209 of the Company Act): No directors were subject to the lifting of non-competition restrictions.
6. If the permitted competitive act involves a business in the Mainland China region, the director's name and title (If it does not involve a business in the Mainland China region, please enter 'Not Applicable' below): Not Applicable
7. Company Name and Position in the Mainland China Business: Not Applicable
8. Address of the Mainland China Business: Not Applicable
9. Business Scope of the Mainland China Business: Not Applicable
10. Impact on the Company's Financial and Business Operations: None
11. If any director has investments in the Mainland China business, the investment amount and shareholding ratio: Not Applicable
12. Other Matters to be Noted: None
FAQ
What was resolved at Sheng Mao's shareholders' meeting?
At the 115th fiscal year's shareholders' meeting, a proposal to lift non-competition restrictions for directors was discussed, but it was ultimately determined that no lifting was necessary.
What are non-competition restrictions?
These are restrictions preventing directors from engaging in other businesses that compete with the company's business or could create conflicts of interest.
Why was the lifting of non-competition restrictions considered?
Under the Company Act, directors require shareholders' meeting approval to engage in competitive acts, hence the deliberation on granting such permission.
Will this resolution affect Sheng Mao's business?
No, according to the announcement, this resolution is stated to have no impact on the company's financial and business operations.
Is it possible for non-competition restrictions to be lifted in the future?
While they were not lifted in this resolution, it's possible they could be reconsidered in the future depending on strategic changes or evolving circumstances.