What is a non-compete clause?

A restriction preventing directors from engaging in businesses that compete with the company.

To allow directors to hold concurrent roles in affiliated companies.

Is there a financial impact?

The company stated there is no material impact.

The newly elected board members.

[He-Chuan] The company's 115th Annual General Meeting approved the lifting of non-compete restrictions for directors.

Q: When was this decided?

At the annual general meeting on May 29, 115.

Published May 29, 2026 9:00 AM ・ Updated Jun 13, 2026 11:47 PM ・ 3 min read ・ Source: PR Times

He-Chuan Technology approved the lifting of non-compete restrictions for its newly elected directors at the annual general meeting on May 29, 115. This allows directors such as Zhang Yisheng, Cheng Tianzong, and Zhu Jilong to invest in or manage businesses similar to the company's operations during their tenure. The company assessed that there is no material impact on its financial operations despite the directors' involvement in mainland China businesses.

1. Date of resolution: 115/05/29. 2. Names and titles of directors permitted to engage in competitive behavior: (1) Director: Zhang Yisheng. (2) Director: Cheng Tianzong. (3) Representative of He-Chuan Marketing Consultant Co., Ltd.: Zhu Jilong. (4) Director: Li Zhengmo. (5) Independent Director: Liu Guanting. (6) Independent Director: Li Guoyu. (7) Independent Director: Zhang Lanxin. 3. Scope of permitted competitive behavior: Investing in or operating companies with the same or similar business scope. 4. Duration: During the term of office. 5. Resolution status: Approved by the shareholders' meeting. 6. Directors involved in mainland China businesses: (1) Zhang Yisheng. (2) Zhu Jilong. 7. Names and positions in mainland China: (1) Zhang Yisheng: Chairman of He-Chuan Automation (Shanghai) and Kunshan Yichun Industrial Technology. (2) Zhu Jilong: General Manager of He-Chuan Automation (Shanghai) and Kunshan Yichun Industrial Technology. 8. Addresses: (1) Shanghai Free Trade Zone, Taigu Road No. 2. (2) Kunshan City, Huaqiao Town, Jimingtang South Road No. 936. 9. Business scope in mainland China: (1) International trade, machinery assembly, PCB cutting machines. (2) Electronic equipment and hardware components. 10. Financial impact: None. 11. Investment amount: None. 12. Other: None.

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Source: PR Times
Category: Corporate Governance
Dates in source: 115/05/29

[He-Chuan] The company's 115th Annual General Meeting approved the lifting of non-compete restrictions for directors.

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