1475 Yip Wung: Shareholders Approve Waiver of Non-Competition Restrictions for New Directors
Key facts
- 1475 Yip Wung: Shareholders Approve Waiver of Non-Competition Restrictions for New Directors
- Yip Wung (1475) announced that its shareholders' meeting approved the lifting of non-competition restrictions for newly appointed directors and their representatives. The affected directors hold positions in mainland China-based companies operating in similar industries, but the company stated there will be no impact on its financial or operational performance.
- Source: PR Times
- Date: June 27, 2026
Direct answer
Yip Wung (1475) announced that its shareholders' meeting approved the lifting of non-competition restrictions for newly appointed directors and their representatives. The affected directors hold positions in mainland China-based companies operating in similar industries, but the company stated there will be no impact on its financial or operational performance.
- Citation
- 1475 Yip Wung: Shareholders Approve Waiver of Non-Competition Restrictions for New Directors (June 27, 2026), PR Times
- Source
- PR Times
- Date
- June 27, 2026
Yip Wung (1475) announced that its shareholders' meeting approved the lifting of non-competition restrictions for newly appointed directors and their representatives. The affected directors hold positions in mainland China-based companies operating in similar industries, but the company stated there will be no impact on its financial or operational performance.
📋 Article Processing Timeline
- 📰 Published: June 27, 2026 at 09:00
- 🔍 Collected: June 27, 2026 at 22:08 (13h 8m after Published)
- 🤖 AI Analyzed: June 27, 2026 at 22:11 (2 min after Collected)
Release Date: June 27, 2026
Statement Date: June 26, 2026
Statement Time: 17:52:41
Company Code: 1475
Company Name: Yip Wung
Subject: Shareholders approve the lifting of non-competition restrictions for newly appointed directors and their representatives
Applicable Clause: Clause 21
Factual Date: June 26, 2026
Details:
1. Shareholders' Meeting Resolution Date: June 26, 2026
2. Directors permitted to engage in competitive activities (name and title):
- Director: Chen Kun-Mu, legal representative of Muteng International Investment Co., Ltd.
- Director: Chen Kun-Song, legal representative of Songze International Investment Co., Ltd.
- Independent Director: Liu Zhi-Xiong
- Independent Director: Li Zhi-Ren
3. Permitted competitive activities:
Investment in or operation of businesses with the same scope as the company, provided that such activities do not harm the company's interests.
4. Duration of permitted competitive activities: Throughout their term as directors of the company.
5. Voting outcome (as per Article 209 of the Company Act):
The resolution was approved by vote.
6. Directors involved in competitive activities related to businesses in Mainland China (enter 'Not Applicable' if not applicable):
- Director: Chen Kun-Mu, legal representative of Muteng International Investment Co., Ltd.
- Director: Chen Kun-Song, legal representative of Songze International Investment Co., Ltd.
- Independent Director: Liu Zhi-Xiong
7. Mainland China-based companies and positions held by the directors:
- Chen Kun-Mu:
- Chairman, Jiangsu Dewang Digital Technology Co., Ltd.
- Chairman, Zhangjiagang Hetait Chemical Co., Ltd.
- Chairman, Zhangjiagang Zhuanjie Chemical Co., Ltd.
- Chen Kun-Song:
- Director, Jiangsu Dewang Digital Technology Co., Ltd.
- Vice Chairman, Zhangjiagang Hetait Chemical Co., Ltd.
- Vice Chairman, Zhangjiagang Zhuanjie Chemical Co., Ltd.
- Liu Zhi-Xiong:
- Director, Lixing Plastics (Shenzhen) Co., Ltd.
8. Addresses of the Mainland China-based companies:
(1) Jiangsu Dewang Digital Technology Co., Ltd.: No. 10 Wuhu Road, Port Industrial Park, Fenghuang Town, Zhangjiagang City, Jiangsu Province
(2) Zhangjiagang Hetait Chemical Co., Ltd.: No. 10 Wuhu Road, West Zone, Port Industrial Park, Fenghuang Town, Zhangjiagang City, Jiangsu Province
(3) Zhangjiagang Zhuanjie Chemical Co., Ltd.: No. 10 Wuhu Road, West Zone, Port Industrial Park, Fenghuang Town, Zhangjiagang City, Jiangsu Province
(4) Lixing Plastics (Shenzhen) Co., Ltd.: 1st to 4th Floors, Building D, 10th Industrial Zone, Tianliao Community, Gongming Office, Guangming New District, Shenzhen City
9. Business activities of the Mainland China-based companies:
(1) Jiangsu Dewang Digital Technology Co., Ltd.:
Digital technology R&D and services, dye production and sales, digital printing ink, textile dyes and auxiliaries manufacturing and sales.
(2) Zhangjiagang Hetait Chemical Co., Ltd.:
Manufacturing, processing, and sales of dyes and textile chemical products; chemical product sales; import and export trade.
(3) Zhangjiagang Zhuanjie Chemical Co., Ltd.:
Manufacturing, processing, and sales of dyes and related chemical products; import and export trade.
(4) Lixing Plastics (Shenzhen) Co., Ltd.:
Manufacturing and sales of computer plastic parts and components, floppy disk drive plastic parts, printer plastic parts.
10. Impact on the company's financial and business operations: None
11. If directors have invested in Mainland China-based businesses, investment amount and shareholding ratio: Not Applicable
12. Other disclosures: None
Statement Date: June 26, 2026
Statement Time: 17:52:41
Company Code: 1475
Company Name: Yip Wung
Subject: Shareholders approve the lifting of non-competition restrictions for newly appointed directors and their representatives
Applicable Clause: Clause 21
Factual Date: June 26, 2026
Details:
1. Shareholders' Meeting Resolution Date: June 26, 2026
2. Directors permitted to engage in competitive activities (name and title):
- Director: Chen Kun-Mu, legal representative of Muteng International Investment Co., Ltd.
- Director: Chen Kun-Song, legal representative of Songze International Investment Co., Ltd.
- Independent Director: Liu Zhi-Xiong
- Independent Director: Li Zhi-Ren
3. Permitted competitive activities:
Investment in or operation of businesses with the same scope as the company, provided that such activities do not harm the company's interests.
4. Duration of permitted competitive activities: Throughout their term as directors of the company.
5. Voting outcome (as per Article 209 of the Company Act):
The resolution was approved by vote.
6. Directors involved in competitive activities related to businesses in Mainland China (enter 'Not Applicable' if not applicable):
- Director: Chen Kun-Mu, legal representative of Muteng International Investment Co., Ltd.
- Director: Chen Kun-Song, legal representative of Songze International Investment Co., Ltd.
- Independent Director: Liu Zhi-Xiong
7. Mainland China-based companies and positions held by the directors:
- Chen Kun-Mu:
- Chairman, Jiangsu Dewang Digital Technology Co., Ltd.
- Chairman, Zhangjiagang Hetait Chemical Co., Ltd.
- Chairman, Zhangjiagang Zhuanjie Chemical Co., Ltd.
- Chen Kun-Song:
- Director, Jiangsu Dewang Digital Technology Co., Ltd.
- Vice Chairman, Zhangjiagang Hetait Chemical Co., Ltd.
- Vice Chairman, Zhangjiagang Zhuanjie Chemical Co., Ltd.
- Liu Zhi-Xiong:
- Director, Lixing Plastics (Shenzhen) Co., Ltd.
8. Addresses of the Mainland China-based companies:
(1) Jiangsu Dewang Digital Technology Co., Ltd.: No. 10 Wuhu Road, Port Industrial Park, Fenghuang Town, Zhangjiagang City, Jiangsu Province
(2) Zhangjiagang Hetait Chemical Co., Ltd.: No. 10 Wuhu Road, West Zone, Port Industrial Park, Fenghuang Town, Zhangjiagang City, Jiangsu Province
(3) Zhangjiagang Zhuanjie Chemical Co., Ltd.: No. 10 Wuhu Road, West Zone, Port Industrial Park, Fenghuang Town, Zhangjiagang City, Jiangsu Province
(4) Lixing Plastics (Shenzhen) Co., Ltd.: 1st to 4th Floors, Building D, 10th Industrial Zone, Tianliao Community, Gongming Office, Guangming New District, Shenzhen City
9. Business activities of the Mainland China-based companies:
(1) Jiangsu Dewang Digital Technology Co., Ltd.:
Digital technology R&D and services, dye production and sales, digital printing ink, textile dyes and auxiliaries manufacturing and sales.
(2) Zhangjiagang Hetait Chemical Co., Ltd.:
Manufacturing, processing, and sales of dyes and textile chemical products; chemical product sales; import and export trade.
(3) Zhangjiagang Zhuanjie Chemical Co., Ltd.:
Manufacturing, processing, and sales of dyes and related chemical products; import and export trade.
(4) Lixing Plastics (Shenzhen) Co., Ltd.:
Manufacturing and sales of computer plastic parts and components, floppy disk drive plastic parts, printer plastic parts.
10. Impact on the company's financial and business operations: None
11. If directors have invested in Mainland China-based businesses, investment amount and shareholding ratio: Not Applicable
12. Other disclosures: None
FAQ
What was resolved at Yip Wung's shareholders meeting?
The waiver of non-competition restrictions for newly appointed directors and their representatives was approved.
Which directors are affected by the waiver?
Chen Kun-Mu and Chen Kun-Song, legal representatives of Muteng and Songze Investment, and independent directors Liu Zhi-Xiong and Li Zhi-Ren.
What competitive activities are now permitted?
Investment in or management of businesses in the same sector, provided they do not harm Yip Wung's interests.
Which mainland China companies are involved?
Jiangsu Dewang Digital, Zhangjiagang Hetait Chemical, Zhangjiagang Zhuanjie Chemical, and Lixing Plastics (Shenzhen).
Will this resolution affect Yip Wung's performance?
The company states there will be no impact on its financial or operational results.