The Board of Super Hi International Holding Ltd. announced that, due to work adjustment and further optimization of duty allocation, Mr. ZHOU Zhaocheng resigned as the chief executive officer of the Company with effect from March 30, 2023 while remains as an executive Director and the chairman of the Board. The Board further announced that Mr. LI Yu has been appointed as an executive Director and chief executive officer of the Company, with effect from March 30, 2023. Mr. LI is responsible for implementing and promoting the Group's development strategies as well as the operation and improvement of the Group's restaurant business.

The biographical details of Mr. LI are set out below: Mr. LI Yu, aged 37, joined Haidilao International Holding Ltd. in November 2007 where he had served over 15 years. He was responsible for the operation and management of the Haidilao restaurants in Japan, Korea, Thailand and Taiwan from May 2021 to March 2022 and was further appointed as the chief operating officer (mainland China) from March 2022 to October 2022, mainly assisting the chief executive officer of Haidilao International to improve the operational efficiency and to strengthen the supervision and implementation of the management execution. Since October 2022, Mr. LI had been assisting Mr. ZHOU, its previous chief executive officer, in overseeing the management and operation of the Group's business.

Mr. LI also acted as an executive director of Haidilao International from August 2021 to September 2022. Mr. LI completed the MBA program held by National Chengchi University in Taiwan in October 2017.