Why is non-compete clause applicable for directors?

It is to protect the company's interest by preventing directors from engaging in business activities that directly compete with the company.

How can a non-compete clause be waived?

It can be waived through a resolution at the Shareholders' Meeting (General Meeting) for specific activities.

[Walsin] Shareholders' Meeting Approves Waiver of Non-Compete Restrictions for New Directors

Published May 22, 2026 9:00 AM ・ Updated Jun 14, 2026 12:01 AM ・ 5 min read ・ Source: PR Times

At the shareholders' meeting on May 22, 2026, Walsin Lihwa approved the waiver of non-compete restrictions for seven new directors, allowing them to hold concurrent positions in affiliated companies.

1. Date of Shareholders' Meeting resolution: 2026/05/22

2. Names and titles of directors permitted to engage in competitive activities: (1) Jiao You-Lun, Director (2) Jiao You-Heng, Director (3) Jiao You-Qi, Director (4) Xia Li-Yan, Director (5) Xue Ming-Ling, Director (6) Claude Georges Haberer, Director (7) Chiu Li-Meng, Independent Director

3. Items for which non-compete restrictions are waived: (1) Jiao You-Lun: Chairman of Walsin New Energy Cable System Co., Ltd.; Director of Jin-Cheng Construction Co., Ltd.; Director of Walsin (Nanjing) Property Development Co., Ltd.; Vice President Commissioner of Walsin Lippo Industry; Vice President Commissioner of P.T. Walsin Lippo Kabel; Director of Borrego Energy Holdings, LLC; Director of Cogne Acciai Speciali S.p.A. (2) Jiao You-Heng: Chairman of Global Brands Manufacture Ltd.; Chairman of Yu-Yue Co., Ltd.; Director of Sheng-Cheng Industrial Co., Ltd. (3) Jiao You-Qi: Chairman of HannStar Display Corporation; Director of Jing-Jin Technology Co., Ltd.; Chairman of Yue-Ma No. 1 Investment Co., Ltd. (4) Xia Li-Yan: Vice President and Spokesperson of Phu My Hung Development Corporation; Chief Representative of Central Trading & Development Group (5) Xue Ming-Ling: Independent Director of Lite-On Technology Corporation (6) Claude Georges Haberer: Independent Director of Gobi Mining and Transport Pte Ltd (Nominated) (7) Chiu Li-Meng: Independent Director of Sinyi Realty Inc.

4. Duration of permission: During the tenure

5. Resolution result (pursuant to Article 209 of the Company Act): Approved by more than two-thirds of the shareholders present representing the total issued shares, with a majority vote of the shareholders present.

6. Directors engaged in competitive activities in mainland China: Jiao You-Lun, Director

7. Company name and position in mainland China: Walsin (Nanjing) Property Development Co., Ltd., Director

8. Address in mainland China: 9F, T6 Office Building, Walsin City, No. 258, Jiangdong Middle Road, Jianye District, Nanjing, Jiangsu Province, China

9. Business scope of the business in mainland China: Walsin (Nanjing) Property Development Co., Ltd.: Commercial real estate

10. Impact on the company's financial and business operations: None

11. Investment amount and shareholding ratio in the mainland Chinese business: None

12. Other matters: None

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Source: PR Times
Category: News

[Walsin] Shareholders' Meeting Approves Waiver of Non-Compete Restrictions for New Directors

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