[Fu Shou] Announcement regarding the shareholders' resolution to waive non-compete restrictions for directors at the 115th Annual General Meeting
Fu Shou Industry passed a resolution at its shareholders' meeting to waive non-compete restrictions for six directors, authorizing them to hold concurrent positions in mainland China business operations.
📋 Article Processing Timeline
- 📰 Published: May 21, 2026 at 09:00
- 🔍 Collected: May 22, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 22, 2026 at 10:19 (2h 19m after Collected)
1. Date of shareholders' meeting resolution: 2026/05/21
2. Names and titles of directors authorized to engage in competitive business:
(1) Director: Representative of Hua Shao Investment Co., Ltd., Hung Yao-kun
(2) Director: Representative of Cheng Lung Investment Co., Ltd., Hsiao Ming-chu
(3) Director: Hung Yao-chun
(4) Director: Hung Yao-chih
(5) Director: Hung Chun-lin
(6) Director: Hung Chiang-ming
3. Nature of authorized competitive business: Investing in or operating companies with the same or similar scope of business as the company.
4. Period of authorization: During their current term as directors.
5. Resolution status: Approved as proposed in accordance with Article 209 of the Company Act.
6. Directors involved in mainland China operations: Same as above (1)-(6).
7. Positions held in mainland China entities:
(1) Hung Yao-kun: Chairman of Xiamen Fu Shou Industry Co., Ltd., Director of Xiamen Fu Shou Trading Co., Ltd.
(2) Hung Yao-chih: Director of Xiamen Fu Shou Industry Co., Ltd.
(3) Hung Yao-chun: Chairman of Xiamen Fu Shou Trading Co., Ltd.
8. Address of mainland China entities: No. 207, Huancheng East Road, Datong Town, Tong'an District, Xiamen City.
9. Business scope of mainland China entities:
- Xiamen Fu Shou Industry: Aquatic, livestock, feed, and vegetable oil processing.
- Xiamen Fu Shou Trading: Wholesale and import/export of pet food, supplies, and equipment.
10. Impact on company financials: Not applicable.
11. Investment amount and shareholding ratio: Not applicable.
12. Other items: Not applicable.
2. Names and titles of directors authorized to engage in competitive business:
(1) Director: Representative of Hua Shao Investment Co., Ltd., Hung Yao-kun
(2) Director: Representative of Cheng Lung Investment Co., Ltd., Hsiao Ming-chu
(3) Director: Hung Yao-chun
(4) Director: Hung Yao-chih
(5) Director: Hung Chun-lin
(6) Director: Hung Chiang-ming
3. Nature of authorized competitive business: Investing in or operating companies with the same or similar scope of business as the company.
4. Period of authorization: During their current term as directors.
5. Resolution status: Approved as proposed in accordance with Article 209 of the Company Act.
6. Directors involved in mainland China operations: Same as above (1)-(6).
7. Positions held in mainland China entities:
(1) Hung Yao-kun: Chairman of Xiamen Fu Shou Industry Co., Ltd., Director of Xiamen Fu Shou Trading Co., Ltd.
(2) Hung Yao-chih: Director of Xiamen Fu Shou Industry Co., Ltd.
(3) Hung Yao-chun: Chairman of Xiamen Fu Shou Trading Co., Ltd.
8. Address of mainland China entities: No. 207, Huancheng East Road, Datong Town, Tong'an District, Xiamen City.
9. Business scope of mainland China entities:
- Xiamen Fu Shou Industry: Aquatic, livestock, feed, and vegetable oil processing.
- Xiamen Fu Shou Trading: Wholesale and import/export of pet food, supplies, and equipment.
10. Impact on company financials: Not applicable.
11. Investment amount and shareholding ratio: Not applicable.
12. Other items: Not applicable.
FAQ
Why is the non-compete waiver necessary?
Under Article 209 of the Company Act, directors are restricted from engaging in competing businesses unless approved by the shareholders' meeting.
Is this a common procedure?
Yes, it is a standard legal procedure for companies with multiple subsidiaries to ensure smooth group management.
What changes after this resolution?
It legally formalizes the directors' ability to hold concurrent positions at the affiliated companies in Xiamen.