The Board of Super Hi International Holding Ltd. announced that Mr. ZHOU Zhaocheng resigned as the chairman of the Board and an executive Director, as well as ceased his role as an Authorized Representative in order to focus on his other business commitment, with effect from December 13, 2023. The Board announced that Ms. SHU Ping has been appointed as the chairlady of the Board, a non-executive Director and an Authorized Representative, with effect from December 13, 2023. Ms. SHU Ping, aged 53, has already built a distinguished career in the catering industry.

She has been serving as a director of Sichuan Haidilao Catering Co. Ltd. since November 2014. Beyond this, Ms. SHU has also been an executive director in Yihai International Holding Ltd. since March 2018.

Since July 2015, Ms. SHU was a director of Haidilao International Holding Ltd. and was subsequently re-designated as a non-executive director from May 2018 to August 2021. As at the date of this announcement, Ms. SHU is also holding directorships at three subsidies of the Group. Ms. SHU completed the Senior Management PRC Enterprise Master of Business Administration Program and Financial Master of Business Administration Program jointly hosted by Cheung Kong Graduate School of Business and other institutes in November 2015 and completed the Executive Master of Business Administration Program jointly hosted by Shanghai Jiaotong University and Singapore Nanyang Technological University in July 2016.

In September 2022, Ms. SHU also completed the Ph.D. Program in applied finance, specializing in wealth management in the University of Geneva. The Board also announces that, following the above changes, (i) Mr. ZHOU has ceased to act as a member of the Remuneration Committee and the chairman of the Nomination Committee; and (ii) Ms. SHU has been appointed as a member of the Remuneration Committee and the chairlady of the Nomination Committee. Prior to this change, Mr. ZHOU, serving as the chairman of the Board and an executive Director, led the Group in its strategic internationalization and globalization development.

Throughout his tenure, in particular during the aftermath of the COVID-19 pandemic, Mr. ZHOU had guided the Group as well as the management team to establish a strong foundation in areas including international market layout, organizational structure planning, tiered talent development, and multi-faceted professionalism support. Ms. SHU, as one of the founders of the Haidilao brand, has cultivated deep-cutting insights, comprehensive knowledge and extensive experience of the catering industry. Her well-rounded capabilities in market expansion, coupled with profound understanding of industry trends and customer service, position her well as the leader of the Group.

The Board firmly believes that in her roles as the chairlady of the Board and a non-executive Director, Ms. SHU will further instill the core corporate value of "changing your future with your own hands within the Group, aptly deal with global market challenges, and continue to steer the Group's internationalization and globalization efforts. The Company will also further bolster its ability to cope with the current business development, and strive for the pursuit of new opportunities, ultimately serving the best interest of the shareholders of the Company as a whole. In addition to the above, in March 2023, the Board appointed Mr. LI Yu as the chief executive officer in a bid to further enhance the capabilities of management team.

Under Mr. LI ' s stewardship, the senior management of the Group and regional managers collaborated the caliber of management and business performance through a series of internal management measures, which has further fostered the Group's capability for sustainable and positive development in the international market.