[Feihong] Announcement on the Resolution of the Company's Shareholders' Meeting to Lift the Non-Compete Clause for Directors
Feihong Company's shareholders' meeting on June 11 approved the lifting of the non-compete clause for directors. This allows directors, including Lin Zhong-Min, Jiang Wei-Feng, and Lin Guan-Hong, as well as independent directors Zhou Da-Ren, Kang Hui-Mei, and Wu Zhong-Shu, to engage in businesses identical or similar to the company's scope of business during their tenure. This resolution has no significant impact on the company's financial and business operations.
📋 Article Processing Timeline
- 📰 Published: June 11, 2026 at 09:00
- 🔍 Collected: June 12, 2026 at 08:00 (23h 0m after Published)
- 🤖 AI Analyzed: June 12, 2026 at 17:53 (9h 53m after Collected)
2. Names and Titles of Directors Permitted to Engage in Competitive Business:
(1) Director: Lin Zhong-Min
(2) Director: Jiang Wei-Feng
(3) Director: Lin Guan-Hong
(4) Independent Director: Zhou Da-Ren
(5) Independent Director: Kang Hui-Mei
(6) Independent Director: Wu Zhong-Shu
3. Scope of Business Permitted for Competitive Activities: Companies with business scopes identical or similar to the company's business scope.
4. Duration of Permitted Competitive Activities: During the term of office as a director of this company.
5. Resolution Details (Please explain the voting results in accordance with Article 209 of the Company Act):
This proposal was passed with the attendance of shareholders representing more than 1/2 of the total issued share capital, and with the approval of more than 2/3 of the voting rights of the attending shareholders.
6. Names and Titles of Directors if the Permitted Competitive Business is with a Mainland China Entity (If not with a Mainland China Entity, please enter 'Not Applicable'): Director Lin Zhong-Min
7. Name and Position in the Mainland China Entity: Chairman of Puzhen Electronic Technology (Shanghai) Co., Ltd.
8. Address of the Mainland China Entity: 3rd Floor, Building 17, No. 1515 Gumei Road, Xuhui District, Shanghai
9. Business Scope of the Mainland China Entity: Research and development of software and hardware related to human-computer interaction technology; production and sales of self-produced products of human-computer interaction computer software; wholesale, import and export, and commission agency (excluding auctions) of computer software and hardware products, and provision of related technical services.
10. Impact on the Company's Financial and Business Operations: No significant impact.
11. If Directors Invest in the Mainland China Entity, Investment Amount and Shareholding Ratio: Puzhen Electronic Technology (Shanghai) Co., Ltd.: USD300,000; 100% shareholding.
12. Other Matters to be Noted: None.
FAQ
What business activities can Feihong's directors engage in going forward?
Directors are permitted to engage in business activities identical or similar to Feihong's scope of business during their term of office.
Will this decision affect Feihong's performance?
According to the press release, the decision is stated to have no significant impact on the company's financial and business operations.
What is Director Lin Zhong-Min's business in China?
Director Lin Zhong-Min serves as Chairman of Puzhen Electronic Technology (Shanghai) Co., Ltd., which is involved in R&D and sales of human-computer interaction technology software and hardware.
What is the purpose of lifting the non-compete clause?
While the specific purpose is not detailed, it is likely part of a strategy to leverage directors' diverse experiences and external collaborations for business expansion.
Is this news important for investors?
Changes in corporate governance can be important for investors as they relate to the company's future growth strategy and risk management framework.