Kwanmao Approves Removal of Non-Compete Restrictions for Director at 115th Annual Shareholders Meeting
Key facts
- Kwanmao Approves Removal of Non-Compete Restrictions for Director at 115th Annual Shareholders Meeting
- At its 115th annual shareholders meeting held on June 26, Kwanmao approved the lifting of non-compete restrictions for director He Shijun, permitting him to continue serving in an executive role at Mao Hong Information Technology (Shanghai) Co., Ltd.
- Source: PR Times
- Date: June 26, 2026
Direct answer
At its 115th annual shareholders meeting held on June 26, Kwanmao approved the lifting of non-compete restrictions for director He Shijun, permitting him to continue serving in an executive role at Mao Hong Information Technology (Shanghai) Co., Ltd.
- Citation
- Kwanmao Approves Removal of Non-Compete Restrictions for Director at 115th Annual Shareholders Meeting (June 26, 2026), PR Times
- Source
- PR Times
- Date
- June 26, 2026
At its 115th annual shareholders meeting held on June 26, Kwanmao approved the lifting of non-compete restrictions for director He Shijun, permitting him to continue serving in an executive role at Mao Hong Information Technology (Shanghai) Co., Ltd.
📋 Article Processing Timeline
- 📰 Published: June 26, 2026 at 09:00
- 🔍 Collected: June 27, 2026 at 17:00 (32h 0m after Published)
- 🤖 AI Analyzed: June 27, 2026 at 18:25 (1h 25m after Collected)
1. Shareholders Meeting Resolution Date: 115/06/26
2. Name and Title of Director Permitted to Engage in Competitive Activities:
Director: He Shijun / Director of the Company
3. Nature of Permitted Competitive Activities:
He Shijun - Mao Hong Information Technology (Shanghai) Co., Ltd. / Executive Director
4. Duration of Permitted Competitive Activities: During the period of serving as director of the Company
5. Resolution Details (Voting Results as per Article 209 of the Companies Act):
In accordance with Article 209 of the Companies Act, the resolution was passed at the Company's 115th annual shareholders meeting on June 26, 2026. Considering operational needs and business development of the Company's significant equity-method investee, the shareholders approved the removal of non-compete restrictions that previously limited the Company's director from concurrently holding a position at the subsidiary within the same business scope.
6. Name and Title of Director if the Permitted Competitive Activity Involves a Business in Mainland China (Enter 'Not Applicable' if not applicable):
Director: He Shijun / Director of the Company
7. Name and Position Held at the Mainland China-Based Enterprise:
Mao Hong Information Technology (Shanghai) Co., Ltd. / Chairman
8. Address of the Mainland China-Based Enterprise:
Room 307, Building 1, Huigu Baomao Science Park, No. 641 Tianshan Road, Changning District, Shanghai
9. Business Scope of the Mainland China-Based Enterprise:
Information technology and network technology development, wholesale, import/export, and commission agency of electronic products and daily necessities
10. Impact on the Company's Financial and Business Operations:
An equity-method investee company whose investment gains/losses are recognized by the Company
11. If the Director has Invested in the Mainland China-Based Enterprise, Specify Investment Amount and Shareholding Ratio: None
12. Other Matters to be Disclosed: None
2. Name and Title of Director Permitted to Engage in Competitive Activities:
Director: He Shijun / Director of the Company
3. Nature of Permitted Competitive Activities:
He Shijun - Mao Hong Information Technology (Shanghai) Co., Ltd. / Executive Director
4. Duration of Permitted Competitive Activities: During the period of serving as director of the Company
5. Resolution Details (Voting Results as per Article 209 of the Companies Act):
In accordance with Article 209 of the Companies Act, the resolution was passed at the Company's 115th annual shareholders meeting on June 26, 2026. Considering operational needs and business development of the Company's significant equity-method investee, the shareholders approved the removal of non-compete restrictions that previously limited the Company's director from concurrently holding a position at the subsidiary within the same business scope.
6. Name and Title of Director if the Permitted Competitive Activity Involves a Business in Mainland China (Enter 'Not Applicable' if not applicable):
Director: He Shijun / Director of the Company
7. Name and Position Held at the Mainland China-Based Enterprise:
Mao Hong Information Technology (Shanghai) Co., Ltd. / Chairman
8. Address of the Mainland China-Based Enterprise:
Room 307, Building 1, Huigu Baomao Science Park, No. 641 Tianshan Road, Changning District, Shanghai
9. Business Scope of the Mainland China-Based Enterprise:
Information technology and network technology development, wholesale, import/export, and commission agency of electronic products and daily necessities
10. Impact on the Company's Financial and Business Operations:
An equity-method investee company whose investment gains/losses are recognized by the Company
11. If the Director has Invested in the Mainland China-Based Enterprise, Specify Investment Amount and Shareholding Ratio: None
12. Other Matters to be Disclosed: None
FAQ
What is the legal basis for this resolution?
Under Article 209 of the Companies Act, the shareholder meeting passed a special resolution to lift the non-compete restriction.
What business does Mao Hong Information Technology (Shanghai) conduct?
It engages in IT and network technology development, and wholesale/import/export of electronics and daily goods.
How does this affect investors?
As an equity-method investment, Mao Hong's performance directly impacts Kwanmao's consolidated financial results.