What is the legal basis for lifting non-compete restrictions?

Under Article 209 of the Company Law, approved by shareholders with 2/3 attendance and majority vote.

Is there any conflict with mainland China businesses?

The company states no financial investment by directors and no impact on operations.

Is it common for independent directors to serve in mainland firms?

Yes, especially when leveraging professional expertise across cross-strait corporate boards.

Xinbaba Shareholders Approve Waiver of Directors' Non-Compete Restrictions

Published Jun 30, 2026 9:00 AM ・ Updated Jul 2, 2026 1:33 PM ・ 4 min read ・ Source: PR Times

On June 30, 115, Xinbaba's shareholders approved the lifting of non-compete restrictions for several directors, allowing them to engage in business activities similar to the company’s during their tenure, with no impact on financial or operational performance.

1. Shareholders' Meeting Resolution Date: 115/06/30

2. Names and Titles of Directors Permitted to Engage in Competitive Activities: (1) Director, Representative of Chen Long Investment Co., Ltd.: Zhang Hong-Tu (2) Director, Representative of Jie Wei Investment Co., Ltd.: Huang Xiang-Yun (3) Independent Director: Zhang Yan-Zhen (4) Independent Director: Cai Shu-Zhen (5) Independent Director: Cai Qi-Hong (6) Independent Director: Zhang Hui-Lan

3. Approved Competitive Activities: Projects identical to the company’s business scope

4. Duration of Approved Competitive Activities: Throughout the period of serving as a director of the company

5. Resolution Outcome (Voting Results per Article 209 of the Company Law): Approved by shareholders representing two-thirds of issued shares in attendance, with over half of the voting rights of attending shareholders in favor

6. Directors Engaging in Competitive Activities Related to Mainland China-Based Businesses (Enter 'Not Applicable' if not applicable): (1) Independent Director: Zhang Hui-Lan

7. Company Names and Positions Held in Mainland China-Based Businesses: (1) Chongqing Xizhou Funeral Services Co., Ltd. – Supervisor (2) Chongqing Xibao Funeral Technology Co., Ltd. – Supervisor (3) Hongyang (China) Limited – Director

8. Addresses of Mainland China-Based Businesses: (1) Chongqing Xizhou Funeral Services Co., Ltd. No. 211 Heping Road, Yuzhong District, Chongqing

(2) Chongqing Xibao Funeral Technology Co., Ltd. Unit 1, Zhongxing Garden Building, Heping Road, Yuzhong District, Chongqing

(3) Hongyang (China) Limited Unit B3, 4th Floor, Summit Building, No. 30 Minyu Street, Hung Hom, Kowloon

9. Business Activities of Mainland China-Based Entities: (1) Chongqing Xizhou Funeral Services Co., Ltd. Funeral Services

(2) Chongqing Xibao Funeral Technology Co., Ltd. Funeral Services

(3) Hongyang (China) Limited Investment Holding

10. Impact on the Company’s Financial and Business Operations: None

11. If Directors Have Invested in Mainland China-Based Businesses, Investment Amount and Shareholding Ratio: None

12. Other Matters to Be Disclosed: None

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Source: PR Times
Category: News
Dates in source: 115/06/30

Xinbaba Shareholders Approve Waiver of Directors' Non-Compete Restrictions

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