What is the core of this news?

Hua Xia Polymer passed a resolution to waive the non-compete obligation for a director under specific conditions.

Why was this resolution necessary?

According to Article 209 of the Company Act, director non-compete waivers require approval from the shareholders' meeting (or the Board acting on its behalf).

How long does the waiver last?

From May 19, 2026, until the end of the director's term on May 14, 2027.

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[Hua Xia] Major Subsidiary Hua Xia Polymer Approves Director Non-Compete Waiver

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Hua Xia Polymer, a major subsidiary of China General Plastics (CGPC), announced on May 19, 2026, that its Board of Directors—acting on behalf of the shareholders' meeting—has approved the waiver of non-compete restrictions for Director Hu Jihong. This waiver is effective for the duration of his tenure, from May 19, 2026, to May 14, 2027, provided that the company's interests are not harmed.

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Frequently Asked Questions

Q: What is the core of this news?: A: Hua Xia Polymer passed a resolution to waive the non-compete obligation for a director under specific conditions.
Q: Why was this resolution necessary?: A: According to Article 209 of the Company Act, director non-compete waivers require approval from the shareholders' meeting (or the Board acting on its behalf).
Q: How long does the waiver last?: A: From May 19, 2026, until the end of the director's term on May 14, 2027.