[Hua Xia] Major Subsidiary Hua Xia Polymer Approves Director Non-Compete Waiver
Hua Xia Polymer, a major subsidiary of China General Plastics (CGPC), announced on May 19, 2026, that its Board of Directors—acting on behalf of the shareholders' meeting—has approved the waiver of non-compete restrictions for Director Hu Jihong. This waiver is effective for the duration of his tenure, from May 19, 2026, to May 14, 2027, provided that the company's interests are not harmed.
📋 Article Processing Timeline
- 📰 Published: May 19, 2026 at 09:00
- 🔍 Collected: May 20, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: May 20, 2026 at 08:38 (38 min after Collected)
1. Date of shareholders' meeting resolution: May 19, 2026.
2. Name and title of the director permitted to engage in competitive activities:
Director: Hu Jihong.
3. Scope of competitive activities permitted:
The above director is permitted to engage in competitive activities, provided that such activities do not harm the interests of Hua Xia Polymer.
4. Period of the permitted competitive activities:
From May 19, 2026, to May 14, 2027, during his tenure as a director of Hua Xia Polymer.
5. Status of the resolution (voting results according to Article 209 of the Company Act):
Pursuant to Article 209 of the Company Act, the 2026 Board of Directors of Hua Xia Polymer (acting on behalf of the shareholders' meeting) approved the lifting of the non-compete restriction, provided that the interests of Hua Xia Polymer are not harmed.
6. Whether the permitted competitive activities involve businesses in Mainland China:
Not applicable (N/A).
7. Company name and position in the Mainland China business: N/A.
8. Address of the Mainland China business: N/A.
9. Business items of the Mainland China business: N/A.
10. Impact on the company's financial and business operations: N/A.
11. Investment amount and shareholding ratio if the director has invested in the Mainland China business: N/A.
12. Other items to be stated: None.
2. Name and title of the director permitted to engage in competitive activities:
Director: Hu Jihong.
3. Scope of competitive activities permitted:
The above director is permitted to engage in competitive activities, provided that such activities do not harm the interests of Hua Xia Polymer.
4. Period of the permitted competitive activities:
From May 19, 2026, to May 14, 2027, during his tenure as a director of Hua Xia Polymer.
5. Status of the resolution (voting results according to Article 209 of the Company Act):
Pursuant to Article 209 of the Company Act, the 2026 Board of Directors of Hua Xia Polymer (acting on behalf of the shareholders' meeting) approved the lifting of the non-compete restriction, provided that the interests of Hua Xia Polymer are not harmed.
6. Whether the permitted competitive activities involve businesses in Mainland China:
Not applicable (N/A).
7. Company name and position in the Mainland China business: N/A.
8. Address of the Mainland China business: N/A.
9. Business items of the Mainland China business: N/A.
10. Impact on the company's financial and business operations: N/A.
11. Investment amount and shareholding ratio if the director has invested in the Mainland China business: N/A.
12. Other items to be stated: None.
FAQ
What is the core of this news?
Hua Xia Polymer passed a resolution to waive the non-compete obligation for a director under specific conditions.
Why was this resolution necessary?
According to Article 209 of the Company Act, director non-compete waivers require approval from the shareholders' meeting (or the Board acting on its behalf).
How long does the waiver last?
From May 19, 2026, until the end of the director's term on May 14, 2027.