HAIDILAO stock rose 9% in Hong Kong trading on Wednesday after chairman Zhang Yong has been named CEO, consolidating leadership as the board defends its governance framework and oversight.

Haidilao International Holding has announced a significant reshuffle of its top management, effective 13 January 2026, including the resignation of executive director and chief executive officer Gou Yiqun, as well as executive directors Song Qing and Gao Jie, as part of an adjustment to the board’s composition to support the company’s strategic development. While the three departing directors will remain in key management roles within the group, including Gou leading initiatives in intelligent and automated management processes and Song continuing as president of the product committee, the board has appointed four new executive directors—Li Nana, Zhu Yinhua, Jiao Defeng and Zhu Xuanyi—and named chairman Zhang Yong as the new chief executive officer, consolidating leadership despite a formal deviation from Hong Kong’s corporate governance code calling for separation of the two roles. The company argues that strong board independence, existing checks and balances, and collective decision-making on key strategies will preserve governance integrity, and it has added Li Nana to the nomination committee while committing to ongoing review of its governance structure, signaling continuity of strategic direction with tighter alignment between board leadership and executive management.