China General Plastics Corporation (1305) Announces Non-Compete Waiver for Subsidiary Director
China General Plastics Corporation (1305) approved the lifting of non-compete restrictions for Mr. Hu Jihong, a director of its subsidiary CGPC Polymer.
📋 Article Processing Timeline
- 📰 Published: May 20, 2026 at 06:31
- 🔍 Collected: May 20, 2026 at 06:31 (0 min after Published)
- 🤖 AI Analyzed: May 20, 2026 at 07:14 (42 min after Collected)
Announcement Date: May 19, 2025
Company Code: 1305
Company Name: China General Plastics Corporation
Subject: Announcement regarding the lifting of non-compete restrictions for a director of major subsidiary CGPC Polymer Corporation, approved by the Board of Directors acting on behalf of the shareholders' meeting.
Details:
1. Date of Shareholders' Meeting Resolution: May 19, 2025
2. Name and Title of Director Permitted to Engage in Competitive Activities:
Director: Hu Jihong
3. Items of Competitive Activity Permitted:
Competitive activities are permitted provided they do not harm the interests of CGPC Polymer Corporation.
4. Period of Permission:
From May 19, 2025, to May 14, 2026 (during the tenure of the directorship at CGPC Polymer Corporation).
5. Resolution Status:
In accordance with Article 209 of the Company Act, the Board of Directors, acting on behalf of the shareholders' meeting, passed the resolution to lift the non-compete restriction.
6. Mainland China business engagement:
Not applicable.
Company Code: 1305
Company Name: China General Plastics Corporation
Subject: Announcement regarding the lifting of non-compete restrictions for a director of major subsidiary CGPC Polymer Corporation, approved by the Board of Directors acting on behalf of the shareholders' meeting.
Details:
1. Date of Shareholders' Meeting Resolution: May 19, 2025
2. Name and Title of Director Permitted to Engage in Competitive Activities:
Director: Hu Jihong
3. Items of Competitive Activity Permitted:
Competitive activities are permitted provided they do not harm the interests of CGPC Polymer Corporation.
4. Period of Permission:
From May 19, 2025, to May 14, 2026 (during the tenure of the directorship at CGPC Polymer Corporation).
5. Resolution Status:
In accordance with Article 209 of the Company Act, the Board of Directors, acting on behalf of the shareholders' meeting, passed the resolution to lift the non-compete restriction.
6. Mainland China business engagement:
Not applicable.
FAQ
Why did CGPC subsidiary authorize director competition?
It was authorized under Article 209 of the Company Act to increase operational flexibility, provided company interests are not harmed.
How long is this authorization valid?
It is valid until May 14, 2026, the end of the director's current term.
Are mainland China operations included?
No, mainland China business operations are not included in this authorization.