Super Hi International Holding Ltd 6-K, filed Jun 21, 2024
Super Hi International Holding Ltd. (HDL)
About this 6-K
Super Hi International Holding Ltd filed this 6-K on June 21, 2024.
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of June 2024
Commission File Number: 001-42101
SUPER HI INTERNATIONAL HOLDING LTD.
1 Paya Lebar Link, #09-04
PLQ 1 Paya Lebar Quarter
Singapore 408533
+65 6378 1921
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Exhibit Index
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| SUPER HI INTERNATIONAL HOLDING LTD. | ||
| By: | /s/ Ping Shu | |
| Name: | Ping Shu | |
| Title: | Director and Chairman | |
Date: June 21, 2024
Exhibit 99.1
Super Hi Announces Changes to Executive Leadership and Board Composition
SINGAPORE, June 21, 2024 (GLOBE NEWSWIRE) -- Super Hi International Holding Ltd. (NASDAQ: HDL and HKEX: 9658) (“Super Hi” or the “Company”), a leading Chinese cuisine restaurant brand operating Haidilao hot pot restaurants in the international market, today announced the appointment of Ms. Yang Lijuan as the new Chief Executive Officer and as executive director of the Company, effective July 1, 2024.
"The Board is delighted to appoint Ms. Yang as Super Hi’s new CEO," said Ms. Shu Ping, Chairlady and non-executive director of Super Hi. "Her proven track record, including navigating Haidilao International Holding Ltd. ("Haidilao International") through the challenges of the pandemic and over 27 years of experience in restaurant operations and management of Haidilao International, makes her the ideal candidate for this role. During her time serving in various executive roles at Haidilao International, Ms. Yang has built up exceptional capabilities and deep industry insights, and has demonstrated an unmatched tenacity and pioneering spirit. For instance, her implementation of data-based, strategically-minded operational adjustments at Haidilao International helped establish a foundation for its sustainable future growth, and attracted significant praise. Furthermore, Ms. Yang led the overseas expansion of the Haidilao brand, successfully establishing a presence in Singapore and the United States in 2012 and 2013, respectively, laying the foundation for the group's current operations in the international market. We are confident that Ms. Yang will further strengthen our operations and drive our strategic growth initiatives in today’s dynamic market.”
Ms. Yang demonstrates a commitment to excellence in the catering industry. Ms. Yang joined Haidilao in 1995 as a waitress and served as a manager at Sichuan Haidilao Catering Co., Ltd (“Sichuan Haidilao”) from June 1997 to March 2001. In April 2001, she was appointed as a director of Sichuan Haidilao, and was re-designated as a non-executive director of Sichuan Haidilao in 2018. Ms. Yang has served in a number of roles at Haidilao International Holding Ltd. (HKEX: 6862), including as a director from July 2015 to January 2018, as the Chief Operating Officer from January 2018 to March 2022, as the deputy Chief Executive Officer from August 2021 to March 2022, as an executive director from August 2021 to June 2024, and as the Chief Executive Officer from March 2022 to June 2024. During her tenure as CEO of Haidilao International, she successfully led it through the pandemic cycle, turning losses into profits in 2022 and achieving a net profit of 4.495 billion yuan in 2023. Ms. Yang completed the PRC Entities CEO and Finance CEO Program hosted by the Cheung Kong Graduate School of Business in 2016.
Ms. Yang’s appointment follows the resignation of Mr. Li Yu as Chief Executive Officer of Super Hi, effective July 1, 2024. Mr. Li will continue to serve the Company as a senior regional manager and as an executive director. In addition, Mr. Wang Jinping has resigned as executive director and Chief Operating Officer of Super Hi, effective July 1, 2024, to focus on new business incubation for the Company. On behalf of the Company, the Board extends its sincere gratitude to Mr. Li for his leadership during his tenure as CEO. The Company looks forward to his continued contribution as an executive director and senior regional manager.
Following the foregoing changes, the Company’s board of directors will consist of four directors, namely Ms. Shu Ping, Ms. Yang Lijuan, Mr. Li Yu, Ms. Liu Li and three independent directors, namely Mr. Tan Kang Uei (Anthony), Mr. Teo Ser Luck, and Mr. Lien Jown Jing (Vincent), effective July 1, 2024.
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About Super Hi
Super Hi operates Haidilao hot pot restaurants in the international market. Haidilao is a leading Chinese cuisine restaurant brand. With roots in Sichuan from 1994, Haidilao has become one of the most popular and largest Chinese cuisine brands in the world. With over 30 years of brand history, Haidilao is well-loved by guests for its unique dining experience — warm and attentive service, great ambiance and delicious food, standing out among global restaurant chains, which has made Haidilao restaurants into a worldwide cultural phenomenon. As of March 31, 2024, Super Hi had 119 self-operated Haidilao restaurants in 13 countries across four continents, making it the largest Chinese cuisine restaurant brand in the international market in terms of number of countries covered by self-operated restaurants.
Forward-Looking Statements
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. SUPER HI may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the “SEHK”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about SUPER HI’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: SUPER HI’s operations and business prospects; future developments, trends and conditions in the industry and markets in which SUPER HI operates; SUPER HI’s strategies, plans, objectives and goals and SUPER HI’s ability to successfully implement these strategies, plans, objectives and goals; SUPER HI’s ability to maintain an effective food safety and quality control system; SUPER HI’s ability to continue to maintain its leadership position in the industry and markets in which SUPER HI operates; SUPER HI’s dividend policy; SUPER HI’s capital expenditure plans; SUPER HI’s expansion plans; SUPER HI’s future debt levels and capital needs; SUPER HI’s expectations regarding the effectiveness of its marketing initiatives and the relationship with third-party partners; SUPER HI’s ability to recruit and retain qualified personnel; relevant government policies and regulations relating to SUPER HI’s industry; SUPER HI’s ability to protect its systems and infrastructures from cyber-attacks; general economic and business conditions globally; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in SUPER HI’s filings with the SEC and the announcements and filings on the website of the SEHK. All information provided in this press release is as of the date of this press release, and SUPER HI does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Contacts
Investor
Relations
Email: superhi_ir@superhi-inc.com
Phone: +1 (212) 574-7992
Public Relations
Email: media.hq@superhi-inc.com
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Exhibit 99.2
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
SUPER HI INTERNATIONAL HOLDING LTD.
特海国际控股有限公司
(Incorporated in the Cayman Islands with limited liability)
(HKEX Stock Code: 9658; NASDAQ Symbol: HDL)
CHANGE OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER
The board (the “Board”) of directors (the “Director(s)”) of SUPER HI INTERNATIONAL HOLDING LTD. (the “Company”, and together with its subsidiaries, the “Group”) announces the following changes will take place with effect from July 1, 2024:
| (1) | Mr. LI Yu (李瑜) (“Mr. LI”) resigned as the chief executive officer of the Company; |
| (2) | Ms. June YANG Lijuan (楊利娟) (“Ms. YANG”) was appointed as an executive Director and the chief executive officer of the Company; and |
| (3) | Mr. WANG Jinping (王金平) (“Mr. WANG”) resigned as an executive Director and chief operating officer of the Company. |
RESIGNATION OF CHIEF EXECUTIVE OFFICER
The Board hereby announces that, due to work adjustment and duty re-allocation, Mr. LI resigned as the chief executive officer of the Company with effect from July 1, 2024. He will remain as an executive Director and the senior regional manager, and provide assistance and support to the new chief executive officer of the Group.
Mr. LI has confirmed to the Board that he has no disagreement with the Board, and there are no other matters with respect to his resignation that need to be brought to the attention of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) or the shareholders of the Company (the “Shareholders”).
The Board would like to take this opportunity to express its sincere gratitude to Mr. LI for his stewardship during his tenure as the chief executive officer of the Company.
APPOINTMENT OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER
The Board is pleased to further announce that Ms. YANG was appointed as an executive Director and the chief executive officer of the Company with effect from July 1, 2024. Ms. YANG is primarily responsible for coordinating the management and strategic development of the Group.
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Ms. YANG has over 27 years of experience in restaurant operation and overall management of Haidilao. In her past career, she successfully exploited new markets including Xi’an and Shanghai, where she built up the reputation and customer base of Haidilao restaurants from scratch. She is well versed in the business philosophy of how to unite employees and attract customers. Ms. YANG has also led the process of launching the Haidilao brand overseas, successfully establishing its presence in Singapore and the United States in 2012 and 2013 respectively, laying the foundation for the Group’s current operations in the international market. During the pandemic, Ms. YANG has successfully led Haidilao International Holding Ltd. (“Haidilao International”) in implementing the “Woodpecker Plan” and the “Hard Bone Plan”, emerging from the operational difficulties and making profound changes in the areas of systematic management, process- oriented operation and data-based assessment, which laid a solid management foundation and built a sustainable growth scenario for Haidilao International and won all-round recognition and praise from the Board, employees and shareholders of Haidilao International. Amidst the current international market where challenges and opportunities coexist, the Board believes that Ms. YANG, with her extensive experience, exceptional capabilities, tenacity and pioneering spirits, will be able to lead the Group to further enhance its management capabilities and operation standards, better expand its customer base in the international market, and promote in-depth exploration of new markets and new racing tracks.
The biographical details of Ms. YANG are set out below:
Ms. June YANG Lijuan, aged 45, demonstrates a commitment to excellence in the catering industry. From June 1997 to March 2001, Ms. YANG served as a manager at Sichuan Haidilao Catering Co., Ltd (四川海底撈餐飲股份有限公司) (“Sichuan Haidilao”). In April 2001, she was appointed as a director of Sichuan Haidilao and re-designated as a non-executive director of Sichuan Haidilao in January 2018. Ms. YANG’s career and leadership further expanded through her roles at Haidilao International, a company currently listed on the Stock Exchange (stock code: 6862), including (i) as a director from July 2015 to January 2018; (ii) as the chief operating officer from January 2018 to March 2022; (iii) as the deputy chief executive officer from August 2021 to March 2022; (iv) as an executive director from August 2021 to June 2024; and (v) as the chief executive officer from March 2022 to June 2024. Throughout her tenure at Haidilao International, Ms. YANG has been instrumental in overseeing management and strategic development, consistently driving it towards greater success.
Ms. YANG completed the PRC Entities CEO and Finance CEO Program (中國企業 CEO/金融 CEO 課程) hosted by the Cheung Kong Graduate School of Business (長江商學院) in September 2016.
Ms. YANG has entered into a service contract with the Company for a term of three years, commencing from the date of this announcement, and is subject to retirement by rotation and re- election in accordance with the articles of association of the Company (the “Articles”). Ms. YANG shall hold office until the next annual general meeting of the Company and will be eligible for and subject to re-election at such meeting in accordance with the Articles. According to the terms of Ms. YANG’s appointment, she is entitled to an annual Director’s fee of RMB500,000, an annual remuneration of the chief executive officer of RMB1,000,000 as well as discretionary performance bonus and other benefits. The remuneration of Ms. YANG will be subject to annual review by the remuneration committee of the Company and the Board from time to time with reference to the prevailing market level and her responsibilities and performance.
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As of the date of this announcement, Ms. YANG is interested or deemed to be interested in 14,464,922 ordinary shares of the Company and 1,734,500 American depository shares of the Company, within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the “SFO”).
Except as disclosed above, as of the date of this announcement, Ms. YANG has confirmed to the Board that she (i) does not hold any other position with the Company or other members of the Group; (ii) did not hold any directorship in the last three years in any other public companies with securities of which are listed on any securities market in Hong Kong or overseas; (iii) does not have any other relationship with any Director, senior management or substantial or controlling shareholder of the Company; or (iv) did not have any other interests in the shares or debentures of our Company or its associated corporations within the meaning of Part XV of the SFO.
Save as disclosed in this announcement, the Board is not aware of any other matters relating to the appointment of Ms. YANG that need to be brought to the attention of the Shareholders, nor is there any other information required to be disclosed pursuant to Rules 13.51(2)(h) to 13.51(2)(v) of the Rules Governing the Listing of Securities on the Stock Exchange.
The Board wishes to express its warm welcome to Ms. YANG for her new appointments.
RESIGNATION OF EXECUTIVE DIRECTOR
The Board further announces that, Mr. WANG resigned as an executive Director and the chief operating officer of the Company with effect from July 1, 2024 in order to directly leverage his expertise and dedicate more time and efforts to new business incubation of the Group.
Mr. WANG has confirmed to the Board that he has no disagreement with the Board, and there are no other matters with respect to his resignation that need to be brought to the attention of the Stock Exchange or the Shareholders.
The Board would like to take this opportunity to express its sincere gratitude to Mr. WANG for his contributions as an executive Director of the Company.
| By order of the Board | |
| SUPER HI INTERNATIONAL HOLDING LTD. | |
| Ms. SHU Ping | |
| Chairlady |
Singapore, June 21, 2024
As of the date of this announcement, the Board comprises Ms. SHU Ping as the chairlady and non- executive Director; Mr. LI Yu, Mr. WANG Jinping and Ms. LIU Li as executive Directors; and Mr. TAN Kang Uei, Anthony, Mr. TEO Ser Luck and Mr. LIEN Jown Jing Vincent as independent non-executive Directors.
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