Happy City Holdings Limited filed a Form 6-K on October 27, 2026, reporting the resignation of Chief Executive Officer and Executive Director Ms. Suk Yee, Kwan and the appointment of Mr. Feng, Wang as the incoming Chief Executive Officer, both effective October 31, 2026.

Key Highlights

  • Resignation effective October 31, 2026: Ms. Suk Yee, Kwan tendered her resignation as CEO and Executive Director on October 21, 2026, citing personal reasons.
  • No disagreements disclosed: Ms. Kwan confirmed there are no disagreements or disputes with the Company, the Board, or management on any matter relating to operations, policies, or practices.
  • New CEO appointment: The Board approved the appointment of Mr. Feng, Wang as Chief Executive Officer, effective October 31, 2026, by written resolution on October 21, 2026.
  • No CEO compensation: Under the CEO Employment Agreement dated October 21, 2026, Mr. Wang will not receive any compensation for his services as Chief Executive Officer.
  • Chair salary unchanged: Mr. Wang continues to be compensated solely as Chair of the Board and Executive Director at an annual salary of HK$180,000 (approximately US$22,951), payable monthly, under his Director Employment Agreement dated September 14, 2026.
  • Existing roles retained: Mr. Wang has served as Chair of the Board and Executive Director since September 18, 2026, and as a director of Happy City Developments Limited, a wholly owned subsidiary, since February 9, 2026.

Leadership Transition at Happy City Holdings: Kwan Out, Wang In as CEO

According to the filing, Ms. Suk Yee, Kwan submitted her resignation on October 21, 2026, from her roles as Chief Executive Officer and Executive Director of Happy City Holdings Limited (NASDAQ:HCHL), with the resignation taking effect October 31, 2026. The company disclosed that Ms. Kwan cited personal reasons for her departure and confirmed in connection with the resignation that there are no disagreements or disputes with the Company, the Board, or management on any matter relating to operations, policies, or practices.

The Board of Directors, acting upon the recommendation of the Nominating Committee, approved by written resolution the appointment of Mr. Feng, Wang as Chief Executive Officer, also effective October 31, 2026. The filing notes that Mr. Wang will continue to serve as Chair of the Board and Executive Director, positions he has held since September 18, 2026, and as a director of Happy City Developments Limited, a wholly owned subsidiary, since February 9, 2026. The company entered into a CEO Employment Agreement with Mr. Wang dated October 21, 2026, under which, according to the filing, Mr. Wang will not receive any compensation for his services as Chief Executive Officer.

The filing states that Mr. Wang will continue to be compensated solely in his capacity as Chair of the Board and Executive Director pursuant to a Director Employment Agreement dated September 14, 2026, under which he receives an annual salary of HK$180,000 (approximately US$22,951), payable on a monthly basis. The company also disclosed that Mr. Wang has no family relationship with any director or executive officer, and has not been involved in any transaction with the Company during the past two years that would require disclosure under Item 404(a) of Regulation S-K.

What Was Disclosed

Happy City Holdings Limited reported the resignation of CEO and Executive Director Ms. Suk Yee, Kwan for personal reasons, effective October 31, 2026, and the Board-approved appointment of Mr. Feng, Wang as her replacement, with Mr. Wang to receive no additional compensation for the CEO role.