Chang Chun Plastics (1773) passes non-compete waiver for directors at AGM
Chang Chun Plastics approved the waiver of non-compete obligations for three directors representing Ninghan Enterprise at the May 20th AGM.
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- 📰 Published: May 21, 2026 at 06:31
- 🔍 Collected: May 21, 2026 at 06:31 (0 min after Published)
- 🤖 AI Analyzed: May 21, 2026 at 06:56 (25 min after Collected)
Announcement Date: May 21, 115 (Republic of China Calendar)
Report Date: May 20, 115
Company Code: 1773
Company Name: Chang Chun Plastics
Subject: The 115th regular shareholders' meeting passed the proposal to waive non-compete restrictions for new directors and their representatives.
1. Date of Resolution: May 20, 115
2. Names and Titles of Directors Granted Non-compete Waiver:
Director / Representative of Ninghan Enterprise Co., Ltd.: Sun Jing-yuan
Director / Representative of Ninghan Enterprise Co., Ltd.: Sun Chi-chih
Director / Representative of Ninghan Enterprise Co., Ltd.: Sun Chi-fa
3. Permitted Non-compete Activities: Investment in or management of companies with the same or similar scope of business as the Company, and serving as a director or manager in such companies.
4. Duration of Waiver: During the tenure as a director of the Company.
5. Resolution Result: Attended by shareholders representing two-thirds or more of the total issued shares, and passed by a majority of the voting rights of the attending shareholders.
6. Directors and Titles in Mainland China Operations:
Sun Jing-yuan, Sun Chi-chih, Sun Chi-fa
7. Company Names and Positions in Mainland China:
Zhangjiagang Yueyang Chemical Co., Ltd. (Chairman/Director)
Shanghai Liansheng Chemical Co., Ltd. (Director)
Shanghai Haosheng Chemical Technology Co., Ltd. (Director)
8. Locations of Mainland Operations:
Zhangjiagang City, Jiangsu Province; Pudong New Area, Shanghai; Jinshan Second Industrial Zone, Shanghai.
9. Business Scope in Mainland China: Chemical product loading/storage/manufacturing/sales; Production and sales of polyethylene oxide; Catalyst production and after-sales service.
10. Impact on Company's Financials/Operations: None.
11. Investment Amount and Shareholding Ratio: None.
12. Other Information: None.
Report Date: May 20, 115
Company Code: 1773
Company Name: Chang Chun Plastics
Subject: The 115th regular shareholders' meeting passed the proposal to waive non-compete restrictions for new directors and their representatives.
1. Date of Resolution: May 20, 115
2. Names and Titles of Directors Granted Non-compete Waiver:
Director / Representative of Ninghan Enterprise Co., Ltd.: Sun Jing-yuan
Director / Representative of Ninghan Enterprise Co., Ltd.: Sun Chi-chih
Director / Representative of Ninghan Enterprise Co., Ltd.: Sun Chi-fa
3. Permitted Non-compete Activities: Investment in or management of companies with the same or similar scope of business as the Company, and serving as a director or manager in such companies.
4. Duration of Waiver: During the tenure as a director of the Company.
5. Resolution Result: Attended by shareholders representing two-thirds or more of the total issued shares, and passed by a majority of the voting rights of the attending shareholders.
6. Directors and Titles in Mainland China Operations:
Sun Jing-yuan, Sun Chi-chih, Sun Chi-fa
7. Company Names and Positions in Mainland China:
Zhangjiagang Yueyang Chemical Co., Ltd. (Chairman/Director)
Shanghai Liansheng Chemical Co., Ltd. (Director)
Shanghai Haosheng Chemical Technology Co., Ltd. (Director)
8. Locations of Mainland Operations:
Zhangjiagang City, Jiangsu Province; Pudong New Area, Shanghai; Jinshan Second Industrial Zone, Shanghai.
9. Business Scope in Mainland China: Chemical product loading/storage/manufacturing/sales; Production and sales of polyethylene oxide; Catalyst production and after-sales service.
10. Impact on Company's Financials/Operations: None.
11. Investment Amount and Shareholding Ratio: None.
12. Other Information: None.
FAQ
Why was the non-compete obligation waived?
To legally allow directors to participate in the management of mainland subsidiaries, it was approved via a shareholder meeting resolution.
What is this procedure?
It is a standard authorization procedure required by Article 209 of the Company Act for directors concurrently serving in similar businesses.
Does this impact the financials?
According to the company, this action has no impact on its financial and business operations.