Hainan Haiyao: The commitment period for the controlling shareholder's non-compete agreement has been extended to within 2 years.

2026-03-12 05:35:12

Hainan Haiyao announced that it recently received a letter from the controlling shareholder, Xinxing Jihua Group Co., Ltd., and Xinxing Jihua Pharmaceutical Holding Co., Ltd., regarding the change of the industry competition commitment period. The companies will resolve the industry competition issues with Xinxing Lingyun Pharmaceutical & Chemical Co., Ltd. and Tianjin Huajin Pharmaceutical Co., Ltd. within two years from the original commitment expiration date. On February 24, 2025, the controlling shareholder previously committed to resolving the industry competition issues within one year from the original commitment expiration date. Due to historical issues, profitability, audit assessments, and the complexity of related procedures, it is expected that this will exceed the original industry competition commitment period.

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