[Yongsin-KY] Announcement of Shareholders' Meeting Approval for Waiver of Non-Compete Restrictions for Newly Appointed Director
Key facts
- [Yongsin-KY] Announcement of Shareholders' Meeting Approval for Waiver of Non-Compete Restrictions for Newly Appointed Director
- Yongsin-KY approved the waiver of non-compete restrictions for Director Chi Bo-yan at the Annual General Meeting on June 5, 2026. Chi serves as Deputy General Manager at Xiamen Yongyu Machinery, prompting this procedural compliance.
- Source: PR Times
- Date: June 5, 2026
Direct answer
Yongsin-KY approved the waiver of non-compete restrictions for Director Chi Bo-yan at the Annual General Meeting on June 5, 2026. Chi serves as Deputy General Manager at Xiamen Yongyu Machinery, prompting this procedural compliance.
- Citation
- [Yongsin-KY] Announcement of Shareholders' Meeting Approval for Waiver of Non-Compete Restrictions for Newly Appointed Director (June 5, 2026), PR Times
- Source
- PR Times
- Date
- June 5, 2026
Yongsin-KY approved the waiver of non-compete restrictions for Director Chi Bo-yan at the Annual General Meeting on June 5, 2026. Chi serves as Deputy General Manager at Xiamen Yongyu Machinery, prompting this procedural compliance.
📋 Article Processing Timeline
- 📰 Published: June 5, 2026 at 09:00
- 🔍 Collected: June 6, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: June 6, 2026 at 17:29 (9h 29m after Collected)
1. Date of shareholders' meeting resolution: 2026/06/05
2. Name and title of the director permitted to engage in competitive behavior:
Director: Chi Bo-yan / Deputy General Manager, Xiamen Yongyu Machinery Industrial Co., Ltd.
3. Content of permitted competitive behavior: Items that are the same as or similar to the company's scope of business.
4. Period of permitted competitive behavior: During the term of office.
5. Resolution status (pursuant to Article 209 of the Company Act): Approved by the annual general meeting of shareholders on June 5, 2026, to lift the non-compete restriction on the aforementioned director.
6. Name and title of the director if the permitted competitive behavior relates to businesses in mainland China: Director / Chi Bo-yan
7. Name and position at the mainland Chinese business: Xiamen Yongyu Machinery Industrial Co., Ltd. / Deputy General Manager
8. Address of the mainland Chinese business: No. 5, Siming Park, Tong'an Industrial Concentration Zone, Tong'an District, Xiamen City, Fujian Province
9. Business scope of the mainland Chinese business: Manufacturing and processing of automotive hydraulic brake master/wheel cylinders and related components.
10. Impact on the company's financial and business operations: Not applicable.
11. Investment amount and shareholding ratio of the director in said mainland Chinese business: Not applicable.
12. Other items to be stated: None.
2. Name and title of the director permitted to engage in competitive behavior:
Director: Chi Bo-yan / Deputy General Manager, Xiamen Yongyu Machinery Industrial Co., Ltd.
3. Content of permitted competitive behavior: Items that are the same as or similar to the company's scope of business.
4. Period of permitted competitive behavior: During the term of office.
5. Resolution status (pursuant to Article 209 of the Company Act): Approved by the annual general meeting of shareholders on June 5, 2026, to lift the non-compete restriction on the aforementioned director.
6. Name and title of the director if the permitted competitive behavior relates to businesses in mainland China: Director / Chi Bo-yan
7. Name and position at the mainland Chinese business: Xiamen Yongyu Machinery Industrial Co., Ltd. / Deputy General Manager
8. Address of the mainland Chinese business: No. 5, Siming Park, Tong'an Industrial Concentration Zone, Tong'an District, Xiamen City, Fujian Province
9. Business scope of the mainland Chinese business: Manufacturing and processing of automotive hydraulic brake master/wheel cylinders and related components.
10. Impact on the company's financial and business operations: Not applicable.
11. Investment amount and shareholding ratio of the director in said mainland Chinese business: Not applicable.
12. Other items to be stated: None.
FAQ
Why is it necessary to waive non-compete obligations?
It is a legal requirement for shareholders to approve the waiver when a director holds a concurrent position in a competing business to prevent conflicts of interest.
Which companies does this usually apply to?
It is common for companies listed in Taiwan that maintain manufacturing operations in China or other overseas regions.
What is the expected impact?
This facilitates smoother management across entities and may strengthen technical collaboration with subsidiaries.