Sound Announces Shareholders' Approval to Lift Non-Compete Restrictions for Newly Appointed Directors
Key facts
- Sound Announces Shareholders' Approval to Lift Non-Compete Restrictions for Newly Appointed Directors
- On June 16, 115, Sound's shareholders approved a resolution permitting certain directors and independent directors to engage in competitive business activities related to the company's operations during their term of office, with no impact on financial or business operations.
- Source: PR Times
- Date: June 16, 2026
Direct answer
On June 16, 115, Sound's shareholders approved a resolution permitting certain directors and independent directors to engage in competitive business activities related to the company's operations during their term of office, with no impact on financial or business operations.
- Citation
- Sound Announces Shareholders' Approval to Lift Non-Compete Restrictions for Newly Appointed Directors (June 16, 2026), PR Times
- Source
- PR Times
- Date
- June 16, 2026
On June 16, 115, Sound's shareholders approved a resolution permitting certain directors and independent directors to engage in competitive business activities related to the company's operations during their term of office, with no impact on financial or business operations.
📋 Article Processing Timeline
- 📰 Published: June 16, 2026 at 09:00
- 🔍 Collected: June 17, 2026 at 17:00 (32h 0m after Published)
- 🤖 AI Analyzed: June 18, 2026 at 17:47 (24h 47m after Collected)
1. Shareholders' Meeting Resolution Date: 115/06/16
2. Names and Titles of Directors Permitted to Engage in Competitive Activities:
Junyu Investment Co., Ltd.: Director
Chen Shengquan: Director
Chen Shengwei: Director
Hua Kailong: Independent Director
Lin Youze: Independent Director
Lai Kaixuan: Independent Director
3. Permitted Competitive Activities: Projects related to the company's business scope
4. Duration of Permitted Competitive Activities: During the period of serving as a director of the company
5. Resolution Outcome (Voting Results under Article 209 of the Company Act): Approved by vote
6. Names and Titles of Directors Engaging in Competitive Activities with Businesses in Mainland China (Enter 'Not Applicable' if not applicable): Chen Shengquan, Vice Chairman
7. Company Name and Position Held in the Mainland China Business:
Chen Shengquan: Director, Dongguan Shengbai Electronics Co., Ltd.
8. Address of the Mainland China Business:
Dongguan Shengbai Electronics Co., Ltd.: Building B, Xintai Industrial Park, Lundo Road, Qisha Village, Shatian Town, Dongguan City, Guangdong Province
9. Business Operations of the Mainland China Entity:
Dongguan Shengbai Electronics Co., Ltd.: Manufacturing and sales of electronic products
10. Impact on the Company's Financial and Business Operations: None
11. If Directors Have Invested in the Mainland China 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:
Junyu Investment Co., Ltd.: Director
Chen Shengquan: Director
Chen Shengwei: Director
Hua Kailong: Independent Director
Lin Youze: Independent Director
Lai Kaixuan: Independent Director
3. Permitted Competitive Activities: Projects related to the company's business scope
4. Duration of Permitted Competitive Activities: During the period of serving as a director of the company
5. Resolution Outcome (Voting Results under Article 209 of the Company Act): Approved by vote
6. Names and Titles of Directors Engaging in Competitive Activities with Businesses in Mainland China (Enter 'Not Applicable' if not applicable): Chen Shengquan, Vice Chairman
7. Company Name and Position Held in the Mainland China Business:
Chen Shengquan: Director, Dongguan Shengbai Electronics Co., Ltd.
8. Address of the Mainland China Business:
Dongguan Shengbai Electronics Co., Ltd.: Building B, Xintai Industrial Park, Lundo Road, Qisha Village, Shatian Town, Dongguan City, Guangdong Province
9. Business Operations of the Mainland China Entity:
Dongguan Shengbai Electronics Co., Ltd.: Manufacturing and sales of electronic products
10. Impact on the Company's Financial and Business Operations: None
11. If Directors Have Invested in the Mainland China Business, Investment Amount and Shareholding Ratio: None
12. Other Matters to Be Disclosed: None
FAQ
Why did Sound lift non-compete restrictions for directors?
To enhance governance flexibility and attract professional talent, approved under Company Act Article 209.
Which director is involved in mainland China operations?
Vice Chairman Chen Shengquan serves as director at Dongguan Shengbai Electronics, manufacturing electronic products.
Does this resolution affect Sound's financials?
The company assesses no impact on financials or operations, with safeguards to protect shareholder interests.