SCHEDULE 13D/A: H World Group Shareholder Revokes Key Power of Attorney

A major shareholder of H World Group Limited, East Leader International Limited, has revoked a long-standing power of attorney granted to Mr. Qi Ji, effective October 20, 2025.

Summary

• This is an Amendment No. 2 to a Schedule 13D filing for H World Group Limited, previously known as Huazhu Group Limited and China Lodging Group, Limited.
• The reporting persons are Tong Tong Zhao, East Leader International Limited, and Perfect Will Holdings Limited.
• The filing reports the revocation of a Power of Attorney that East Leader International Limited granted to Mr. Qi Ji on November 27, 2014.
• The revocation is effective as of October 20, 2025, terminating Mr. Qi Ji's authority to act on behalf of East Leader International Limited.
• The reporting persons collectively beneficially own 263,246,520 Ordinary Shares, representing 8.5% of the Issuer's outstanding Ordinary Shares.
• The ownership percentage is calculated based on 3,078,924,710 Ordinary Shares outstanding as of September 30, 2025.
• Tong Tong Zhao is the sole director of East Leader International Limited and a beneficiary of the Tanya Trust, which ultimately controls East Leader and Perfect Will Holdings Limited.

Sentiment

Score: 5

Explanation: Neutral. This filing reports a procedural change in a significant shareholder's internal governance regarding a power of attorney, without indicating any direct positive or negative financial implications for the company or its operations.

Future Outlook

No forward-looking statements or guidance are provided in this filing.

Management Comments

• The Reporting Persons disclaim membership in any 'group' with any person other than the Reporting Persons.
• East Leader International Limited declared that it is executing this Revocation of Power of Attorney voluntarily and without duress or undue influence, and has read and understood its full text and implications.

Industry Context

This filing is specific to a change in a shareholder's internal governance and does not provide broader industry context or trends.

Management Changes

Corporate Governance

Legal Proceedings

• Neither any of the Reporting Persons nor, to the best of their knowledge, any of the persons listed in Item 2(c) has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
• Neither any of the Reporting Persons nor, to the best of their knowledge, any of the persons listed in Item 2(c) has, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

Stakeholder Impact

• Shareholders: Clarifies the control structure within a significant beneficial ownership group, potentially reducing ambiguity regarding who can act on behalf of East Leader International Limited.
• Mr. Qi Ji: Loses the authority to act on behalf of East Leader International Limited.

Next Steps

• The revocation of the Power of Attorney is effective as of October 20, 2025, meaning Mr. Qi Ji will no longer have authority to act on behalf of East Leader International Limited from that date.

Key Dates

Keywords

H World Group Limited, Schedule 13D, beneficial ownership, power of attorney, Tong Tong Zhao, East Leader International Limited, corporate governance, shareholder, SEC filing, hotel industry