Wei Sheng's Key Subsidiary Li Cheng Systems Technology Resolves to Lift Directors' Non-Competition Restrictions at Shareholders' Meeting
Key facts
- Wei Sheng's Key Subsidiary Li Cheng Systems Technology Resolves to Lift Directors' Non-Competition Restrictions at Shareholders' Meeting
- Li Cheng Systems Technology Co., Ltd., a significant subsidiary of Wei Sheng, announced that its shareholders' meeting on June 24, 2026, passed a resolution permitting certain directors to engage in competitive business activities similar to or identical with the company's operations during their term of office. The company confirmed no financial or operational impact from this decision.
- Source: PR Times
- Date: June 24, 2026
Direct answer
Li Cheng Systems Technology Co., Ltd., a significant subsidiary of Wei Sheng, announced that its shareholders' meeting on June 24, 2026, passed a resolution permitting certain directors to engage in competitive business activities similar to or identical with the company's operations during their term of office. The company confirmed no financial or operational impact from this decision.
- Citation
- Wei Sheng's Key Subsidiary Li Cheng Systems Technology Resolves to Lift Directors' Non-Competition Restrictions at Shareholders' Meeting (June 24, 2026), PR Times
- Source
- PR Times
- Date
- June 24, 2026
Li Cheng Systems Technology Co., Ltd., a significant subsidiary of Wei Sheng, announced that its shareholders' meeting on June 24, 2026, passed a resolution permitting certain directors to engage in competitive business activities similar to or identical with the company's operations during their term of office. The company confirmed no financial or operational impact from this decision.
📋 Article Processing Timeline
- 📰 Published: June 24, 2026 at 09:00
- 🔍 Collected: June 25, 2026 at 17:00 (32h 0m after Published)
- 🤖 AI Analyzed: June 25, 2026 at 17:07 (6 min after Collected)
1. Shareholders' Meeting Resolution Date: June 24, 2026
2. Names and Titles of Directors Permitted to Engage in Competitive Activities:
(1) Xu Qingwen, Director
(2) Wei Sheng Electric Equipment Industrial Co., Ltd., Corporate Director
(3) Li Chenghong, Director
(4) Huang Jianhong, Director
3. Permitted Competitive Activities: Companies engaged in businesses identical or similar to the company's business scope
4. Duration of Permission for Competitive Activities: During the period of serving as a director of the company
5. Resolution Outcome (Voting Results as per Article 209 of the Company Act):
With the chairperson confirming no objections from all attending shareholders, the resolution was adopted as proposed.
6. Directors Engaging in Competitive Activities Related to Mainland China-Based Businesses (Enter 'Not Applicable' if not applicable): Not Applicable
7. Company Name and Position Held in Such Mainland China-Based Business: Not Applicable
8. Address of Such Mainland China-Based Business: Not Applicable
9. Business Scope of Such Mainland China-Based Business: Not Applicable
10. Degree of Impact on the Company's Financial and Business Operations: None
11. If Directors Have Invested in Such Mainland China-Based Business, Investment Amount and Shareholding Ratio: None
12. Other Matters to Be Disclosed: None
2. Names and Titles of Directors Permitted to Engage in Competitive Activities:
(1) Xu Qingwen, Director
(2) Wei Sheng Electric Equipment Industrial Co., Ltd., Corporate Director
(3) Li Chenghong, Director
(4) Huang Jianhong, Director
3. Permitted Competitive Activities: Companies engaged in businesses identical or similar to the company's business scope
4. Duration of Permission for Competitive Activities: During the period of serving as a director of the company
5. Resolution Outcome (Voting Results as per Article 209 of the Company Act):
With the chairperson confirming no objections from all attending shareholders, the resolution was adopted as proposed.
6. Directors Engaging in Competitive Activities Related to Mainland China-Based Businesses (Enter 'Not Applicable' if not applicable): Not Applicable
7. Company Name and Position Held in Such Mainland China-Based Business: Not Applicable
8. Address of Such Mainland China-Based Business: Not Applicable
9. Business Scope of Such Mainland China-Based Business: Not Applicable
10. Degree of Impact on the Company's Financial and Business Operations: None
11. If Directors Have Invested in Such Mainland China-Based Business, Investment Amount and Shareholding Ratio: None
12. Other Matters to Be Disclosed: None
FAQ
What is the legal basis for this resolution?
Article 209 of Taiwan's Company Act allows shareholders to approve directors' competitive activities.
Who is affected by this permission?
Directors Xu Qingwen, Li Chenghong, Huang Jianhong, and corporate director Wei Sheng Electric Equipment.
Is this practice common in the industry?
Yes, cross-directorships and non-compete waivers are standard in Taiwan's manufacturing groups.