What role does the Rose Trust play in Shu Ping’s HDL share ownership?

The Rose Trust holds SUPER HI INTERNATIONAL shares through SP NP LTD. Shu Ping is settlor, protector, and a beneficiary of this discretionary trust, so she is deemed the indirect beneficial owner of the ordinary shares recorded in SP NP LTD’s name for the trust’s beneficiaries.

How are ZY NP LTD and the Apple Trust related to Shu Ping’s HDL stake?

ZY NP LTD is an investment holding company controlled by Yong Zhang, Shu Ping’s spouse. It is owned by UBS Nominees Limited for UBS Trustees (B.V.I.) Limited, trustee of the Apple Trust, a discretionary trust benefiting the couple and family, making Shu Ping an indirect beneficial owner.

Shu Ping reports indirect stake in SUPER HI

SUPER HI INTERNATIONAL HOLDING LTD. director and more-than-10% owner Shu Ping filed an initial Form 3 showing indirect beneficial ownership of ordinary shares.

Filing Impact

(High)

Filing Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

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Form Type

Rhea-AI Filing Summary

SUPER HI INTERNATIONAL HOLDING LTD. director and more-than-10% owner Shu Ping filed an initial Form 3 showing indirect beneficial ownership of ordinary shares. The holdings are reported through SP NP LTD, linked to the Rose Trust, and through her spouse’s ZY NP LTD, linked to the Apple Trust.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Shu Ping

Role Director, 10% Owner

Type	Security	Shares	Price	Value
holding	Ordinary Shares, par value of US$0.000005 per share	--	--	--
holding	Ordinary Shares, par value of US$0.000005 per share	--	--	--

Holdings After Transaction: Ordinary Shares, par value of US$0.000005 per share — 71,561,070 shares (Indirect, By SP NP LTD); Ordinary Shares, par value of US$0.000005 per share — 208,176,319 shares (Indirect, By Spouse)

Footnotes (4)

F1. Represents the ordinary shares held by SP NP LTD, an investment holding company incorporated in the British Virgin Islands and controlled by the Reporting Person.
F2. The shares are held of record by SP NP LTD. SP NP LTD is wholly owned by UBS Nominees Limited, acting in its capacity as nominee for UBS Trustees (B.V.I.) Limited, the trustee of the Rose Trust. The Rose Trust is a discretionary trust of which the Reporting Person is the settlor and protector, established for the benefit of the Reporting Person, the Reporting Person's spouse and their family. By reason of the Reporting Person's role as settlor and protector of the Rose Trust and her status as a beneficiary, the Reporting Person is deemed to be the indirect beneficial owner of the shares held by SP NP LTD.
F3. Represents the ordinary shares held by ZY NP LTD, an investment holding company incorporated in the British Virgin Islands and controlled by Yong Zhang, the spouse of the Reporting Person.
F4. The shares are held of record by ZY NP LTD. ZY NP LTD is wholly owned by UBS Nominees Limited, acting in its capacity as nominee for UBS Trustees (B.V.I.) Limited, the trustee of the Apple Trust. The Apple Trust is a discretionary trust set up by Mr. Yong Zhang, the spouse of the Reporting Person, as the settlor and protector for the benefit of the Reporting Person, the Reporting Person's spouse and their family. The Reporting Person is deemed to be the indirect beneficial owner of the shares held by ZY NP LTD by virtue of her spousal relationship with Mr. Yong Zhang, the settlor and protector of the Apple Trust.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does Shu Ping’s Form 3 for SUPER HI INTERNATIONAL (HDL) report?

The Form 3 reports Shu Ping’s initial beneficial ownership in SUPER HI INTERNATIONAL ordinary shares. The filing shows all shares as held indirectly through SP NP LTD and her spouse’s ZY NP LTD, reflecting interests structured via the Rose Trust and Apple Trust.

How are SP NP LTD holdings in SUPER HI INTERNATIONAL (HDL) structured?

SP NP LTD is an investment holding company in the British Virgin Islands controlled by Shu Ping. It is wholly owned by UBS Nominees Limited as nominee for UBS Trustees (B.V.I.) Limited, trustee of the Rose Trust, a discretionary trust benefiting Shu Ping, her spouse, and their family.

Does Shu Ping directly trade SUPER HI INTERNATIONAL (HDL) shares in this Form 3?

The Form 3 shows no specific purchases or sales. Instead, it lists indirect holdings of ordinary shares through SP NP LTD and ZY NP LTD, both tied to family discretionary trusts, establishing her status as an indirect beneficial owner rather than recording new market transactions.

Why is Shu Ping classified as a more-than-10% owner of HDL?

She is identified as a more-than-10% owner because the indirect holdings attributed to her through SP NP LTD and her spouse’s ZY NP LTD, via the Rose Trust and Apple Trust, together represent a significant ownership position in SUPER HI INTERNATIONAL’s ordinary shares under SEC beneficial ownership rules.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/18/2026 - 12:06 PM EDT

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Shu Ping

(Last)

(First)

(Middle)

1 PAYA LEBAR LINK, #09-04

PLQ 1 PAYA LEBAR QUARTER

(Street)

SINGAPORE

408533

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
SUPER HI INTERNATIONAL HOLDING LTD. [ HDL ]

3a. Foreign Trading Symbol
[9658 (HKEX)]

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Ordinary Shares, par value of US$0.000005 per share	71,561,070⁽¹⁾	I	By SP NP LTD⁽²⁾
Ordinary Shares, par value of US$0.000005 per share	208,176,319⁽³⁾	I	By Spouse⁽⁴⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)

Explanation of Responses:

1. Represents the ordinary shares held by SP NP LTD, an investment holding company incorporated in the British Virgin Islands and controlled by the Reporting Person.

2. The shares are held of record by SP NP LTD. SP NP LTD is wholly owned by UBS Nominees Limited, acting in its capacity as nominee for UBS Trustees (B.V.I.) Limited, the trustee of the Rose Trust. The Rose Trust is a discretionary trust of which the Reporting Person is the settlor and protector, established for the benefit of the Reporting Person, the Reporting Person's spouse and their family. By reason of the Reporting Person's role as settlor and protector of the Rose Trust and her status as a beneficiary, the Reporting Person is deemed to be the indirect beneficial owner of the shares held by SP NP LTD.

3. Represents the ordinary shares held by ZY NP LTD, an investment holding company incorporated in the British Virgin Islands and controlled by Yong Zhang, the spouse of the Reporting Person.

4. The shares are held of record by ZY NP LTD. ZY NP LTD is wholly owned by UBS Nominees Limited, acting in its capacity as nominee for UBS Trustees (B.V.I.) Limited, the trustee of the Apple Trust. The Apple Trust is a discretionary trust set up by Mr. Yong Zhang, the spouse of the Reporting Person, as the settlor and protector for the benefit of the Reporting Person, the Reporting Person's spouse and their family. The Reporting Person is deemed to be the indirect beneficial owner of the shares held by ZY NP LTD by virtue of her spousal relationship with Mr. Yong Zhang, the settlor and protector of the Apple Trust.

	/s/ Ping Shu	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

Source: View Original Filing on SEC EDGAR