Who had non-compete restrictions lifted at Yulon Finance's subsidiary?

Five directors, including Que Yuan-Long (Chairman) and Lin Qun-Sheng (Vice Chairman) of Geshang Auto Leasing.

When was the non-compete waiver resolution made?

The board resolution was passed on August 4, 2026, and announced the next day.

How long does the waiver last?

The permission applies during their tenure as directors of the company.

Does this affect the company's financial performance?

According to the announcement, there is no impact on financial or business operations.

Why was this decided by the board instead of the shareholders' meeting?

The board exercised shareholders' meeting authority under Article 209 of the Company Act.

Yulon Finance Announces Lifting of Non-Competition Restrictions for Key Subsidiary's Directors

Published Aug 5, 2026 9:00 AM ・ Updated Aug 5, 2026 12:35 PM ・ 4 min read ・ Source: PR Times

Yulon Finance Co., Ltd. has announced the lifting of non-competition restrictions for five directors of its key subsidiary, Geshang Auto Leasing Co., Ltd., approved by the board exercising shareholders' meeting authority.

Release Date: August 5, 2026 Statement Date: August 4, 2026 Statement Time: 16:10:38 Company Code: 9941 Company Name: Yulon Finance Subject: Announcement on Behalf of Key Subsidiary Geshang Auto Leasing Co., Ltd. Regarding the Lifting of Directors' Non-Competition Restrictions Applicable Clause: Item 21 Factual Date: August 4, 2026

Details: 1. Shareholders' Meeting Resolution Date: 08/04/2026 2. Names and Titles of Directors Permitted to Engage in Competitive Activities: (1) Que Yuan-Long, Chairman of Geshang Auto Leasing Co., Ltd. (2) Lin Qun-Sheng, Vice Chairman of Geshang Auto Leasing Co., Ltd. (3) Liao Jian-Shun, Deputy General Manager of Yulon Management Enterprise Co., Ltd. (4) Lai Bo-An, Deputy General Manager of Yulon Finance Enterprise Co., Ltd. (5) Zheng Rong-Fu, Deputy General Manager of Geshang Auto Leasing Co., Ltd. 3. Permitted Competitive Activities: Business operations in companies with business scopes identical or similar to that of the company 4. Duration of Permission: During the period of serving as a director of the company 5. Resolution Outcome (Pursuant to Article 209 of the Company Act): Approved as proposed, with no objections raised by all attending directors upon the chair's inquiry. 6. Names and Titles of Directors Engaging in Competitive Activities in Mainland China-based Enterprises (Enter 'Not Applicable' if not applicable): Not Applicable 7. Company Name and Position Held in Such Mainland China-based Enterprise: Not Applicable 8. Address of Such Mainland China-based Enterprise: Not Applicable 9. Business Scope of Such Mainland China-based Enterprise: Not Applicable 10. Impact on the Company's Financial and Business Operations: Not Applicable 11. If Directors Have Invested in Such Mainland China-based Enterprises, Investment Amount and Shareholding Ratio: Not Applicable 12. Other Matters to be Clarified: This resolution was made by the Board of Directors exercising the authority of the shareholders' meeting.

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Source: PR Times
Category: News

Yulon Finance Announces Lifting of Non-Competition Restrictions for Key Subsidiary's Directors

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