What is the purpose of Lida-KY's non-compete waiver?

To formally recognize integrated operations with mainland China affiliates and enhance governance transparency.

How does this resolution affect investors?

It clarifies director conflicts of interest and signals long-term strategic integration, boosting investor confidence.

What was the electronic voting participation rate?

About 64% of favorable votes (47.9 million rights) were cast electronically, indicating high engagement.

How many companies is Director Huang Daping involved with?

He holds key positions in seven companies across mainland China and Hong Kong.

Does this announcement indicate major risks?

The company states no financial impact, but director workload and conflict management remain ongoing concerns.

Lida-KY Announces Shareholders' Resolution to Lift Non-Competition Restrictions for Newly Appointed Directors

Published Jun 24, 2026 9:00 AM ・ Updated Jun 25, 2026 5:11 PM ・ 11 min read ・ Source: PR Times

Lida-KY announced that its shareholders' meeting on June 24, 2026, passed a resolution to lift non-competition restrictions for newly appointed directors, allowing them to engage in similar businesses in mainland China. The company stated there will be no impact on its financial or operational performance.

1. Shareholders' Meeting Resolution Date: June 24, 2026

2. Names and Titles of Directors Permitted to Engage in Competitive Activities: Directors: Wu Jianneng (Representative of Yiyuan Enterprise Co., Ltd.), Huang Daping (Representative of Defu Development Co., Ltd.), Jiang Weifeng, Deng Zhihui Independent Directors: Zhang Zuocheng, Zheng Peiwen, Li Xiaode

3. Permitted Competitive Activities: Companies with business scopes identical or similar to the Company's

4. Duration of Permitted Competitive Activities: During the term of serving as a director of the Company

5. Resolution Outcome (Voting Results per Article 209 of the Company Act): In favor: 74,455,668 voting rights (including 47,882,920 via electronic voting) Against: 431,177 voting rights (including 431,177 via electronic voting) Abstentions: 1,074,329 voting rights (including 932,329 via electronic voting)

The number of votes in favor exceeded the legally required threshold, and the resolution was approved.

6. Directors Engaging in Competitive Activities in Mainland China (Enter 'Not Applicable' if not applicable): (1) Wu Jianneng, Chairman A. General Manager, Quanzhou Yida Household Appliance Industry Co., Ltd. (2) Huang Daping, Director A. Chairman, Lida (China) Electromechanical Co., Ltd. B. Chairman, Lida (Jiangxi) Electromechanical Co., Ltd. C. Chairman, Fujian Quanzhou Lida Machinery Co., Ltd. D. Chairman and General Manager, Quanzhou Lida Real Estate Development Co., Ltd. E. Chairman and General Manager, Quanzhou Lida Shipping Co., Ltd. F. Chairman, Quanzhou Taishang Investment Zone Yongheng Microfinance Co., Ltd. G. Chairman, Shangqiu Lida Real Estate Development Co., Ltd. H. Director, Hong Kong Yida Household Appliance Industry Co., Ltd. (3) Deng Zhihui, Director A. General Manager, Medacon Jiangxi Electric Appliance Co., Ltd.

7. Company Names and Positions Held in Mainland China Entities: (1) Wu Jianneng, Chairman A. General Manager, Quanzhou Yida Household Appliance Industry Co., Ltd. (2) Huang Daping, Director A. Chairman, Lida (China) Electromechanical Co., Ltd. B. Chairman, Lida (Jiangxi) Electromechanical Co., Ltd. C. Chairman, Fujian Quanzhou Lida Machinery Co., Ltd. D. Chairman and General Manager, Quanzhou Lida Real Estate Development Co., Ltd. E. Chairman and General Manager, Quanzhou Lida Shipping Co., Ltd. F. Chairman, Quanzhou Taishang Investment Zone Yongheng Microfinance Co., Ltd. G. Chairman, Shangqiu Lida Real Estate Development Co., Ltd. H. Director, Hong Kong Yida Household Appliance Industry Co., Ltd. (3) Deng Zhihui, Director A. General Manager, Medacon Jiangxi Electric Appliance Co., Ltd.

8. Addresses of Mainland China Entities: (1) Wu Jianneng, Chairman A. Quanzhou Yida Household Appliance Industry Co., Ltd.: Jincuo Village, Dongyuan Town, Quanzhou Taishang Investment Zone (2) Huang Daping, Director A. Lida (China) Electromechanical Co., Ltd.: Industrial Zone, Dongyuan Town, Quanzhou Taishang Investment Zone B. Lida (Jiangxi) Electromechanical Co., Ltd.: North of Gangxing Road, East of Changhang Public Security and Border Inspection Station, Chengxi Port Area, Jiujiang Economic and Technological Development Zone, Jiangxi Province C. Fujian Quanzhou Lida Machinery Co., Ltd.: Hui'an Dongyuan Industrial Zone, Quanzhou, Fujian Province D. Quanzhou Lida Real Estate Development Co., Ltd.: No. C#-501, Zeyuan Huayuan, Fengze New Village, Fengze District, Quanzhou E. Quanzhou Lida Shipping Co., Ltd.: Hui'nan Industrial Park, Dongyuan, Hui'an County F. Quanzhou Taishang Investment Zone Yongheng Microfinance Co., Ltd.: Longcang Village, Dongyuan Town, Quanzhou Taishang Investment Zone G. Shangqiu Lida Real Estate Development Co., Ltd.: Southern Section of Jianshe Road, Xiayi County, Henan Province H. Hong Kong Yida Household Appliance Industry Co., Ltd.: 3/F, Camel Paint Center, No. 1 Xingye Street, Kwun Tong, Kowloon, Hong Kong (3) Deng Zhihui, Director A. Medacon Jiangxi Electric Appliance Co., Ltd.: No. 58 Gangxing Road, Chengxi Port Area, Jiujiang Economic Development Zone, Jiangxi Province

9. Business Activities of Mainland China Entities: (1) Wu Jianneng, Chairman A. Quanzhou Yida Household Appliance Industry Co., Ltd.: Household appliances (2) Huang Daping, Director A. Lida (China) Electromechanical Co., Ltd.: Electromechanical products such as air compressors B. Lida (Jiangxi) Electromechanical Co., Ltd.: Electromechanical products such as air compressors C. Fujian Quanzhou Lida Machinery Co., Ltd.: Investment holding D. Quanzhou Lida Real Estate Development Co., Ltd.: Real estate development E. Quanzhou Lida Shipping Co., Ltd.: General cargo shipping F. Quanzhou Taishang Investment Zone Yongheng Microfinance Co., Ltd.: Microloans, entrusted loans from banking institutions G. Shangqiu Lida Real Estate Development Co., Ltd.: Real estate development and operation H. Hong Kong Yida Household Appliance Industry Co., Ltd.: Household appliances (3) Deng Zhihui, Director A. Medacon Jiangxi Electric Appliance Co., Ltd.: Household appliances

10. Impact on the Company's Financial and Business Operations: None

11. If Directors Have Invested in These Mainland China Entities, Investment Amount and Shareholding Ratio: None

12. Other Matters to Be Disclosed: None

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Source: PR Times
Category: News

Lida-KY Announces Shareholders' Resolution to Lift Non-Competition Restrictions for Newly Appointed Directors

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