Why is a waiver of non-compete restrictions necessary?

It allows directors to perform their duties in group companies without being constrained by legal conflicts of interest.

What is this news about?

It is an announcement that YongHoon Biotech formally approved the waiver of non-compete restrictions for its directors at a shareholders' meeting.

Is there investment in the Chinese business mentioned?

Yes, an investment of approximately 1.06 million RMB by Lee Fang-Chuan in Dequan Pharmaceutical (Jiangsu) Co., Ltd. is disclosed.

[YongHoon Biotech] Shareholders' meeting approves waiver of non-compete restrictions for new directors

Published May 22, 2026 9:00 AM ・ Updated Jun 14, 2026 12:02 AM ・ 4 min read ・ Source: PR Times

On May 22, 2026, YongHoon Biotech passed a resolution at its annual shareholders' meeting to waive non-compete restrictions for directors, including Lee Fang-Chuan. This action regularizes their dual roles in Chinese operations, with no significant financial impact reported.

1. Date of Shareholders' Meeting: May 22, 2026 2. Names and Titles of Directors Authorized to Engage in Competitive Acts: Corporate Director: Representative of Yung Shin Global Holding Corp., Lee Fang-Chuan Corporate Director: Representative of Yung Shin Global Holding Corp., Chien Chih-Wei Independent Director: Lo Pao-Chu 3. Scope of Authorized Competitive Acts: Investing in or operating companies with the same or similar business scope as the company, and serving as a director or manager. 4. Period of Authorization: During the term of office as a director of the company. 5. Voting Status (pursuant to Article 209 of the Company Act): Attended by shareholders representing at least two-thirds of total issued shares; passed as proposed. 6. Names and Titles of Directors Operating in Mainland China: Corporate Director: Representative of Yung Shin Global Holding Corp., Lee Fang-Chuan 7. Names and Titles at China-based Entities: Corporate Director: Representative of Yung Shin Global Holding Corp., Lee Fang-Chuan Chairman of Dequan Pharmaceutical (Jiangsu) Co., Ltd. Director of Dezhen Medicine (Jiangsu) Co., Ltd. 8. Locations of China-based Entities: Dequan Pharmaceutical (Jiangsu) Co., Ltd.: No. 191 Jinyang West Road, Lujia Town, Kunshan City, Jiangsu Province Dezhen Medicine (Jiangsu) Co., Ltd.: No. 191 Jinyang West Road, Lujia Town, Kunshan City, Jiangsu Province 9. Business Scope of China-based Entities: Dequan Pharmaceutical (Jiangsu) Co., Ltd.: Pharmaceutical production, wholesale, import/export, etc. Dezhen Medicine (Jiangsu) Co., Ltd.: Pharmaceutical wholesale, retail, food sales, etc. 10. Financial Impact: No material impact. 11. Investment Details in China-based Entities: Corporate Director: Representative of Yung Shin Global Holding Corp., Lee Fang-Chuan Dequan Pharmaceutical (Jiangsu) Co., Ltd.: Investment of RMB 1,063,490; 0.842% stake Dezhen Medicine (Jiangsu) Co., Ltd.: None 12. Other Information: None

FACT BOX

Source: PR Times
Category: News

[YongHoon Biotech] Shareholders' meeting approves waiver of non-compete restrictions for new directors

⚡ Key Points

FACT BOX

Editorial & Verification Standards

FAQ

Cite this article — HOW TO CITE

AI CRAWLER ACTIVITY