What was decided at Hwa Sheng-KY's shareholder meeting?

The resolution permits six directors to engage in competitive business activities within the same industry.

Which directors are allowed to engage in competitive activities?

Directors Chen Keng-Sheng, Wu Yu-Wen, and independent directors Liu Yue-Hai, Lien Chia-Hsiung, Lin Mu-Tang, and Chen Ming-Ching.

Does this include operations in mainland China?

Yes, Director Chen Keng-Sheng holds positions at automotive parts companies in Pinghu, Zhejiang Province.

Will this resolution affect the company's financial performance?

The company states there will be no impact on its financial or business operations.

How long will the non-compete waiver last?

The waiver applies throughout their tenure as directors of Hwa Sheng-KY.

Hwa Sheng-KY Announces Shareholder Approval to Lift Non-Compete Restrictions on Directors

Published Jun 12, 2026 9:00 AM ・ Updated Jun 14, 2026 12:09 AM ・ 4 min read ・ Source: PR Times

Hwa Sheng-KY announced that its 115th annual shareholder meeting approved the lifting of non-compete restrictions for six directors, allowing them to engage in businesses similar to the company’s operations during their tenure. The decision includes Director Chen Keng-Sheng’s roles in mainland China-based automotive parts firms.

1. Shareholder Meeting Resolution Date: 115/06/12 2. Names and Titles of Directors Permitted to Engage in Competitive Activities: (1) Director: Chen Keng-Sheng (2) Director: Wu Yu-Wen (3) Independent Director: Liu Yue-Hai (4) Independent Director: Lien Chia-Hsiung (5) Independent Director: Lin Mu-Tang (6) Independent Director: Chen Ming-Ching 3. Approved Competitive Activities: Investing in or managing other companies engaged in businesses identical or similar to the company’s operations. 4. Duration of Approval: Throughout the individual’s tenure as a director of the company. 5. Voting Outcome (Pursuant to Article 209 of the Company Act): The resolution passed as the number of affirmative votes exceeded the legally required threshold. 6. Directors Engaging in Competitive Activities in Mainland China-Based Enterprises (Enter 'Not Applicable' if none): (1) Director: Chen Keng-Sheng 7. Mainland China-Based Enterprises and Positions Held: (1) Chen Keng-Sheng: Yi-Lan Automotive Parts Manufacturing (Pinghu) Co., Ltd. – Chairman Pinghu Oakwood Yi-Lan Automotive Parts Manufacturing Co., Ltd. – Vice Chairman 8. Addresses of Mainland China-Based Enterprises: Yi-Lan Automotive Parts Manufacturing (Pinghu) Co., Ltd.: No. 1199, Xin-Xing 2nd Road, Pinghu Economic Development Zone, Pinghu City, Zhejiang Province Pinghu Oakwood Yi-Lan Automotive Parts Manufacturing Co., Ltd.: No. 1199, Xin-Xing 2nd Road, Pinghu Economic Development Zone, Pinghu City, Zhejiang Province 9. Business Scope of Mainland China-Based Enterprises: Yi-Lan Automotive Parts Manufacturing (Pinghu) Co., Ltd.: Manufacturing and assembly of molds for automobiles and motorcycles, automotive electronic components, and production and sales of the aforementioned and similar products. Pinghu Oakwood Yi-Lan Automotive Parts Manufacturing Co., Ltd.: Production and design of automotive parts, and wholesale, import, and export of the aforementioned and similar products. 10. Impact on the Company’s Financial and Business Operations: None 11. Investment Amount and Shareholding Ratio in the Mainland China-Based Enterprises (if applicable): None 12. Other Disclosures: None

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Source: PR Times
Category: News
Dates in source: 115/06/12

Hwa Sheng-KY Announces Shareholder Approval to Lift Non-Compete Restrictions on Directors

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