What is Chuan Fei's non-compete waiver?

It allows directors to hold positions in other companies, permitted under Article 209 of the Company Act.

What is the purpose of this measure?

To enable experienced directors to contribute diverse expertise to corporate governance.

Does this affect financials?

No direct financial impact; it's a governance enhancement measure.

Fang Jason Kin Hoi, Sit Hon from Ting Yang, and two independent directors.

Any mainland China involvement?

No, the permitted activities do not involve mainland China operations.

Chuan Fei Announces Shareholder Meeting Resolution to Lift Director Non-Competition Restrictions

Published Jun 26, 2026 9:00 AM ・ Updated Jun 26, 2026 7:24 AM ・ 5 min read ・ Source: PR Times

Chuan Fei Co., Ltd. has announced that its 2026 annual general meeting resolved to lift non-competition restrictions for certain directors, allowing them to engage in external business activities in compliance with Article 209 of the Company Act.

Release Date: 2026-06-26 Statement Date: 2026-06-25 Statement Time: 13:52:06 Company Code: 1516 Company Name: Chuan Fei

Subject: Announcement of the resolution by the 2026 annual general meeting to lift non-competition restrictions for directors.

Applicable Clause: Clause 21 Event Date: 2026-06-25

Details: 1. Shareholder Meeting Resolution Date: June 25, 2026

2. Names and Titles of Directors Permitted to Engage in Competitive Activities: (1) Director, Representative of Ting Yang Co., Ltd.: Fang Jason Kin Hoi (2) Director, Representative of Ting Yang Co., Ltd.: Sit Hon (3) Independent Director: Zhou Zhi-Ting (4) Independent Director: Zhong Yao-Sheng

3. Approved Competitive Activities: (1) Director, Representative of Ting Yang Co., Ltd.: Fang Jason Kin Hoi: - Sora Ventures: Founder and Director - Moon Inc. (HKG: 1723): Chairman - AsiaStrategy (NASDAQ: SORA): Chairman - Bitplanet Inc. (KOSDAQ: 049470): Chairman - Chaoyue Holdings Limited: Chairman - Shan Jun Co., Ltd.: Chairman - ASTRA Enterprise PCL. (BKK: ASTR): CEO and Director

(2) Director, Representative of Ting Yang Co., Ltd.: Sit Hon: - Koshin Real Estate Co., Ltd.: Chief Investment Officer

(3) Independent Director Zhou Zhi-Ting: - Practicing Attorney, China International United Law Firm

(4) Independent Director Zhong Yao-Sheng: - Practicing CPA and Managing Partner, Yankee United Accounting Firm

4. Duration of Approval: Throughout their tenure as directors of the company.

5. Voting Outcome (per Article 209 of the Company Act): Approved by more than two-thirds of the voting rights of shareholders present, with shareholders representing over half of the issued shares in attendance.

6. Directors Engaging in Business Operations in Mainland China (if applicable; otherwise 'Not Applicable'): Not Applicable.

7. Company Name and Position Held in Mainland China Entity: Not Applicable.

8. Address of Mainland China Entity: Not Applicable.

9. Business Scope of Mainland China Entity: Not Applicable.

10. Impact on Company's Financial and Business Operations: Not Applicable.

11. Directors' Investment Amount and Shareholding Ratio in Mainland China Entity: Not Applicable.

12. Other Matters to be Disclosed: None.

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Source: PR Times
Category: News
Organizations: Sora Ventures / Moon Inc. / AsiaStrategy

Chuan Fei Announces Shareholder Meeting Resolution to Lift Director Non-Competition Restrictions

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