Haidilao International Holding Ltd. (SEHK:6862) announced to spin off 90% stake in Super Hi International Holding Limited on July 11, 2022. Haidilao International Holding Ltd. will distribute shares of Super Hi International Holding Limited. Post completion, Super Hi International Holding Limited will cease to be subsidiary of Haidilao International Holding Ltd. but the major shareholders, led by Chairman Zhang Yong, will remain the controlling shareholders with an approximately 60% stake. and will list on stock exchange. On July 13, 2022, in Super Hi International Holding Limited submitted an application to the Stock Exchange for the listing of shares The record date of spin of is December 20, 2022. The transaction is subject to obtaining approval from shareholders and Board of Haidilao International Holding Ltd. Haidilao International Holding will hold a board meeting on December 15 to consider the deal. Haidilao International Holding will proceed with the conditional distribution of all the shares in Super Hi International Holding, the company's overseas business that is being spun out to become a standalone entity. Pursuant to the announcement December 15, 2022 issued by the Company, the basis for the Distribution is 1 Super Hi Share for every 10 Shares held by a shareholder of the Company on December 20, 2022. it is expected that the dealings in the Super Hi Shares on the Main Board of the Stock Exchange will commence on December 30, 2022.

Haidilao International Holding Ltd. (SEHK:6862) completed the spin off 90% stake in Super Hi International Holding Limited on December 30, 2022. The Super Hi Listing has been completed on December 30, 2022 by way of introduction through a distribution in specie by the Company of all the shares of Super Hi held by it to the shareholders of the Company. Zhou Zhaocheng & Wang Jinping has resigned from the position of chief strategy officer, a joint company secretary and an authorized representative of the Company. Zhou along with Wang Jinping serves as an executive director, the chairman of the board and the chief executive officer of Super Hi.