SUPER HI INTERNATIONAL HOLDING Business Summary

Super Hi International Holding Ltd. (HDL) generates the vast majority of its revenue through a direct-to-consumer transaction model, primarily derived from its self-operated Haidilao hot pot restaurants across international markets. The company’s revenue streams are categorized into three primary segments: Haidilao restaurant operations, which account for over 95% of total turnover; delivery services; and a diversified "others" segment that includes the retail sale of branded hot pot condiments and food products. As of early 2026, the company operates over 120 locations across 14 countries, maintaining its status as the largest Chinese cuisine brand in the international market by geographic footprint. Its primary direct competitors include Yum China, YUM! Brands, Jiumaojiu International Holdings, and Lubuds; within this landscape, Super Hi distinguishes itself through a premium, service-centric dining experience and a "Woodpecker Plan" strategy focused on high-efficiency operational adjustments and underperforming store optimization. Originally spun off from Haidilao International Holding Ltd. in 2022, the company was co-founded by billionaire Zhang Yong and his spouse, Ms. Shu Ping, who currently serves as the Chairlady and Non-executive Director. The leadership team is anchored by CEO and Executive Director Ms. Yang Lijuan (also known as June Yang), a 27-year company veteran who famously rose from a waitress to the highest levels of executive management and is credited with leading the brand's successful pandemic recovery. Other key leadership figures include Executive Director and former CEO Mr. Li Yu, who oversees regional operations. The company is dual-listed on the Hong Kong Stock Exchange (9658.HK) and NASDAQ (HDL), with significant institutional backing from notable investors such as Greenwoods Investments SG Pte Ltd. and China Universal Asset Management (Hong Kong) Co. Ltd.