UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO
RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of November 2025
Commission File Number: 001-42013
SuperX AI Technology Limited
(Translation of registrant’s name into English)
30 Pasir Panjang Road
#06-31, Mapletree Business City
Singapore 117440
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Resignation of Mr. Yee Man (Thomas) Law as Executive Director and Chief Executive Officer of SuperX AI Technology Limited (the “Company”)
On November 10, 2025, the Board of Directors of the Company (the “Board”) accepted the resignation of Mr. Yee Man (Thomas) Law as Executive Director and Chief Executive Officer of the Company, effective November 30, 2025. Mr. Law’s resignation was not due to any disagreements with the Company regarding its operations, policies, or practices.
Appointment of Dr. Chenhong Huang as Chairman of the Board, Executive Director and Chief Executive Officer
On November 17, 2025, the Company announced that Dr. Chenhong Huang has been appointed as Chairman of the Board, Executive Director, and Chief Executive Officer of the Company. Dr. Huang’s appointment is effective December 1, 2025.
The biographical information for Dr. Huang is as follows:
Dr. Chenhong Huang is a seasoned technology executive with more than 30 years of leadership experience across global enterprise software, cloud, and IT infrastructure companies. Since April 2025, he has served as a Board Member of Yonyou, a Chinese enterprise software company, where he previously served as President from January to March 2025. Prior to that, Dr. Huang was Global Executive Vice President and President of SAP Greater China from August 2021 to December 2024. From October 2014 to August 2021, he served as Chairman and President of Dell Greater China. Earlier in his career, Dr. Huang held senior leadership positions with APC by Schneider Electric, Tellabs Corporation, and Nortel Corporation, including President of APC Greater China, Chairman of Zhuhai Uniflair, President of Tellabs China, and President of Carrier Sales for Nortel China, respectively. Dr. Huang holds a Ph.D. in Electrical Engineering from Texas A&M University, an M.S. in Electrical Engineering from Fudan University, and a B.S. in Physics from Fudan University. Dr. Huang is a U.S. citizen.
On November 17, 2025, SuperX AI Technology Limited issued a press release entitled “SuperX AI Technology Limited Appoints Enterprise Technology Veteran Dr. Chenhong Huang as Chairman and CEO to Lead Global AI Infrastructure Expansion”. A copy of the press release is furnished as Exhibit 99.1 to this Report of Foreign Private Issuer on Form 6-K and is incorporated herein by reference.
EXHIBITS INDEX
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Date: November 17, 2025 | SuperX AI Technology Limited | |
| By: | /s/ Yu Chun Kit, Anderson | |
| Name: | Yu Chun Kit Anderson | |
| Title: | Executive Director | |
Exhibit 10.1
SuperX AI Technology Limited
30 Pasir Panjang Road
#06-31, Mapletree Business City
Singapore 117440
November 13th, 2025
Re: Director Offer Letter – Dr. Chenhong HUANG
Dear Dr. Chenhong HUANG:
SuperX AI Technology Limited, a Cayman Islands limited liability company (the “Company” or “we” ), is pleased to offer you a position as an Chief Executive Officer and the Chairman of the Board of Directors of the Company. We believe your background and experience will be a significant asset to the Company and we look forward to your participation as an Chief Executive Officer and the Chairman of the Board of Directors in the Company. Should you choose to accept this position as an Chief Executive Officer and the Chairman of the Board of Directors, this letter agreement (the “Agreement”) shall constitute an agreement between you and the Company and contains all the terms and conditions relating to the services you agree to provide to the Company. Your appointment shall begin on December 1st, 2025 (the “Commencement Date”).
1. Term.
This Agreement is effective upon the Commencement Date and shall continue for a period of three year from the commencement date subject to the provisions in Section 9 below or until your successor is duly elected and qualified.
2. Services.
You shall render customary services as a Chief Executive Officer and the Chairman of the Board of Directors and such other duties as are reasonably contemplated by you holding office as a Chief Executive Officer and the Chairman of the Board of Directors of the Company or which may reasonably be assigned to you by the Board from time to time (hereinafter, your “Duties”). During the term of this Agreement, you may attend and participate at each meeting regarding the business and operation issues of the Company as regularly or specially called, via teleconference, video conference or in person. You shall consult with the members of the Board and committee (if any) regularly and as necessary via telephone, electronic mail or other forms of correspondence.
3. Services for Others.
You shall be free to represent or perform services for other persons during the term of this Agreement.
4. Compensation.
4.1 Base Salary: You will receive an annual salary of USD3,000,000, paid in twelve (12) equal monthly installments on the last working day of each month.
4.2 Signing Equity: Upon onboarding, you shall receive an equity award valued at USD1,500,000, granted under the Company’s standard equity incentive plan (The number of shares granted will be determined based on the closing price of the Company’s shares from the previous trading day before the signing date of the employment contract).
4.3 Ongoing Equity Compensation: You will receive equity valued at USD1,500,000 annually in the Company, issued and vested monthly throughout your employment, contingent upon your continued employment and the Company’s equity plan rule. Shares will be issued on the last working day of each month, with the number of shares granted based on the closing price of the Company’s shares on the last trading day of each month.
4.4 Deferred Service Equity Awards: In addition to the above, you will be eligible to receive Service Equity Awards valued at USD1,500,000 each: (a) after completing the first year of continuous employment, and (b) after completing the second year of continuous employment. Each Service Equity Award will be granted within thirty (30) days of the respective anniversary, contingent upon the your continued employment on that date and approval from the Company’s Board of Directors. The number of shares awarded will be determined based on the closing price of the Company’s shares on the trading day corresponding to the final date of the anniversary period, specifically November 30. Each Service Equity Award will fully vest upon grant
4.5 Performance Bonus: If you successfully leads the Company to achieve USD 500,000,000 sale order within the first twelve (12) months from the Commencement Date, you will be entitled to a one-time performance bonus of USD3,000,000, payable in cash at the end of the fiscal quarter immediately following confirmation of this achievement. If the full USD500,000,000 sale order is not met within the first twelve (12) months, the bonus will be pro-rated based on the actual achievement ratio, provided that this ratio exceeds 50%. The prorated bonus will be payable upon completion of twelve (12) months of service from the Commencement Date. No bonus will be awarded if the achievement ratio is 50% or below.
4.6 Subsequent Year Performance Bonuses: For the second and third years of the Initial Term, you shall remain eligible for an annual performance bonus with a maximum, one-time payout of USD 3,000,000 per year. The specific key performance indicators (KPIs), metrics, and minimum thresholds required to achieve the annual bonus for Year two and Year three shall be mutually agreed upon and formally defined by you and the Compensation Committee of the Board of Directors prior to the start of the respective performance year. Once defined, the annual KPIs and corresponding achievement levels will be documented in a written addendum to this Agreement and will govern the determination and payment of the bonus for that year. Payment of any annual performance bonus is contingent upon your continuous employment with the Company through the date of payment.
5. D&O Insurance Policy. During the term under this Agreement, the Company shall include you as an insured under its officers and director’s insurance policy, if available.
6. No Assignment. Because of the personal nature of the services to be rendered by you, this Agreement may not be assigned by you without the prior written consent of the Company.
7. Confidential Information; Non-Disclosure. In consideration of your access to certain Confidential Information (as defined below) of the Company, in connection with your business relationship with the Company, you hereby represent and agree as follows:
a. Definition. For purposes of this Agreement the term “Confidential Information” means: (i) any information which the Company possesses that has been created, discovered or developed by or for the Company, and which has or could have commercial value or utility in the business in which the Company is engaged; (ii) any information which is related to the business of the Company and is generally not known by non-Company personnel; and (iii) Confidential Information includes, without limitation, trade secrets and any information concerning products, processes, formulas, designs, inventions (whether or not patentable or registrable under copyright or similar laws, and whether or not reduced to practice), discoveries, concepts, ideas, improvements, techniques, methods, research, development and test results, specifications, data, know-how, software, formats, marketing plans, and analyses, business plans and analyses, strategies, forecasts, customer and supplier identities, characteristics and agreements.
b. Exclusions. Notwithstanding the foregoing, the term Confidential Information shall not include: (i) any information which becomes generally available or is readily available to the public other than as a result of a breach of the confidentiality portions of this Agreement, or any other agreement requiring confidentiality between the Company and you; (ii) information received from a third party in rightful possession of such information who is not restricted from disclosing such information; (iii) information known by you prior to receipt of such information from the Company, which prior knowledge can be documented and (iv) information you are required to disclose pursuant to any applicable law, regulation, judicial or administrative order or decree, or request by other regulatory organization having authority pursuant to the law; provided, however, that you shall first have given prior written notice to the Company and made a reasonable effort to obtain a protective order requiring that the Confidential Information not be disclosed.
c. Documents. You agree that, without the express written consent of the Company, you will not remove from the Company’s premises, any notes, formulas, programs, data, records, machines or any other documents or items which in any manner contain or constitute Confidential Information, nor will you make reproductions or copies of same. You shall promptly return any such documents or items, along with any reproductions or copies to the Company upon the Company’s demand, upon termination of this Agreement, or upon your termination or Resignation (as defined in Section 9 herein).
d. Confidentiality. You agree that you will hold in trust and confidence all Confidential Information and will not disclose to others, directly or indirectly, any Confidential Information or anything relating to such information without the prior written consent of the Company, except as may be necessary in the course of your business relationship with the Company. You further agree that you will not use any Confidential Information without the prior written consent of the Company, except as may be necessary in the course of your business relationship with the Company, and that the provisions of this paragraph (d) shall survive termination of this Agreement. Notwithstanding the foregoing, you may disclose Confidential Information to your legal counsel and accounting advisors who have a need to know such information for accounting or tax purposes and who agree to be bound by the provisions of this paragraph (d).
e. Ownership. You agree that the Company shall own all right, title and interest (including patent rights, copyrights, trade secret rights, mask work rights, trademark rights, and all other intellectual and industrial property rights of any sort throughout the world) relating to any and all inventions (whether or not patentable), works of authorship, mask works, designations, designs, know-how, ideas and information made or conceived or reduced to practice, in whole or in part, by you during the term of this Agreement and that arise out of your Duties (collectively, “Inventions”) and you will promptly disclose and provide all Inventions to the Company. You agree to assist the Company, at its expense, to further evidence, record and perfect such assignments, and to perfect, obtain, maintain, enforce, and defend any rights assigned.
8. Non-Solicitation. During the term of your appointment, you shall not solicit for employment any employee of the Company with whom you have had contact due to your appointment.
9. Termination and Resignation. Your services as a Chief Executive Officer and the Chairman of the Board of Directors may be terminated for any or no reason by the determination of the Board (including any failure to elect you for an ensuing term at any annual meeting of the Board). You may also terminate your services as a Chief Executive Officer and the Chairman of the Board of Directors for any or no reason by delivering your written notice of resignation to the Company (“Resignation”), and such Resignation shall be effective upon the time specified therein or, if no time is specified, upon receipt of the notice of resignation by the Company. Upon the effective date of the termination or Resignation, your right to compensation hereunder will terminate subject to the Company’s obligations to pay you any compensation that you have already earned as of the effective date of such termination or Resignation.
10. Governing Law; Arbitration. This Agreement shall be construed, interpreted, and governed in accordance with the laws of Singapore, without reference to rules relating to conflicts of law. Any dispute, controversy, difference or claim arising out of or relating to this Agreement, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to it shall be referred to and finally resolved by arbitration administered by the Singapore International Arbitration Centre (“SIAC”) under the SIAC Rules in force when the Notice of Arbitration is submitted. The seat of arbitration shall be Singapore. The number of arbitrators shall be three. The language of the arbitration shall be English. Each party irrevocably submits to the exclusive jurisdiction of the arbitration in Singapore and waives any objection to proceedings on the grounds of venue or that proceedings have been brought in an inappropriate forum.
11. Entire Agreement; Amendment; Waiver; Counterparts. This Agreement expresses the entire understanding with respect to the subject matter hereof and supersedes and terminates any prior oral or written agreements with respect to the subject matter hereof. Any term of this Agreement may be amended and observance of any term of this Agreement may be waived only with the written consent of the parties hereto. Waiver of any term or condition of this Agreement by any party shall not be construed as a waiver of any subsequent breach or failure of the same term or condition or waiver of any other term or condition of this Agreement. The failure of any party at any time to require performance by any other party of any provision of this Agreement shall not affect the right of any such party to require future performance of such provision or any other provision of this Agreement. This Agreement may be executed in separate counterparts each of which will be an original and all of which taken together will constitute one and the same agreement, and may be executed using facsimiles of signatures, and a facsimile of a signature shall be deemed to be the same, and equally enforceable, as an original of such signature.
12. Indemnification. The Company shall, to the maximum extent provided under applicable law, indemnify and hold you harmless from and against any expenses, including reasonable attorney’s fees, judgments, fines, settlements and other legally permissible amounts (“Losses”), incurred in connection with any proceeding arising out of, or related to, your performance of your Duties, other than any such Losses incurred as a result of your gross negligence or willful misconduct. The Company shall advance to you any expenses, including reasonable attorney’s fees and costs of settlement, incurred in defending any such proceeding to the maximum extent permitted by applicable law. Such costs and expenses incurred by you in defense of any such proceeding shall be paid by the Company in advance of the final disposition of such proceeding promptly upon receipt by the Company of (a) written request for payment; (b) appropriate documentation evidencing the incurrence, amount and nature of the costs and expenses for which payment is being sought; and (c) an undertaking adequate under applicable law made by or on your behalf to repay the amounts so advanced if it shall ultimately be determined pursuant to any non-appealable judgment or settlement that you are not entitled to be indemnified by the Company.
13. Acknowledgement. You accept this Agreement subject to all the terms and provisions of this Agreement. You agree to accept as binding, conclusive, and final all decisions or interpretations of the Board of Directors of the Company of any questions arising under this Agreement.
The Agreement has been executed and delivered by the undersigned and is made effective as of the date set first set forth above.
| Sincerely, | |||
| SuperX AI Technology Limited | |||
| By: | /s/ Yu Chun Kit | ||
|
Yu Chun Kit Executive Director |
||
| AGREED AND ACCEPTED: | |||
| /s/ Dr. Chenhong HUANG | |||
| Name: Dr. Chenhong HUANG | |||
Exhibit 10.2
EMPLOYMENT AGREEMENT
This Employment Agreement (the “AGREEMENT”) is made and entered into on November 15th, 2025 by and between Chenhong Huang (the “EXECUTIVE”) and SuperX AI Technology Limited, a British Virgin Islands company (the “COMPANY”).
WHEREAS, the Company and the Executive desire to enter into this Agreement to memorialize the terms and conditions of the Executive’s employment with the Company starting on the date hereof.
NOW, THEREFORE, in consideration of the premises, the mutual covenants and representations contained herein, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:
Article I. Employment; Responsibilities; Compensation
Section 1.01 Employment. Subject to ARTICLE III, the Company hereby agrees to employ Executive and Executive hereby agrees to be employed by the Company, in accordance with this Agreement, for the period commencing on December 1st, 2025 (“Commencement Date”) and ending on November 30th, 2028 (“INITIAL TERM”). the Initial Term shall automatically be extended on yearly basis unless either party gives written notice to the other party 60 days prior to expiration of the Initial Term that it or she, as applicable, does not wish to extend this Agreement. Executive’s continued employment after the expiration of the Initial Term shall be in accordance with and governed by this Agreement, unless modified by the parties to this Agreement in writing. For purposes of this Agreement the Initial Term and any extended term shall be referred to as the “TERM”.
Section 1.02 Responsibilities;
(a) Subject to the terms of this Agreement, Executive is employed in the position of Chief Executive Officer and the Chairman of the Board of Directors of the Company and shall perform the functions and responsibilities of that position. Additional or different duties may be assigned by the Company, after discussion with and consent from the Executive, from time to time.
Section 1.03 Compensation and Benefits. As consideration for the services and covenants described in this Agreement, the Company agrees to compensate Executive in the following manner:
(a) Base Salary. During the Executive’s employment with the Company, the Company shall pay annual Base Salary of USD3,000,000 to the Executive, paid in twelve (12) equal monthly installments on the last working day of each month. Annual Base Salary may also be increased from time to time by action of the Board of Directors of the Company (or any committees or delegees thereof) (the “BOARD”). Upon termination of employment, the Executive shall only be entitled to Base Salary accrued through the effective date of termination. The Compensation shall also be subject to the approval of Company’s Board of Directors and/or Compensation Committees.
(b) Signing Equity: Upon onboarding, the Executive shall receive an equity award (the “Signing Equity Award”) valued at USD1,500,000, granted under the Company’s equity incentive plans and programs then in effect (the “Equity Plan”) . The number of shares granted will be determined based on the closing price of the Company’s shares from the previous trading day before the signing date of this Agreement. Unless otherwise determined by the Board, the Signing Equity Award shall be granted in the form of time-based restricted shares of the Company (“Restricted Shares”) and shall be subject to the terms and conditions of the Equity Plan and the applicable award agreement.
(c) Ongoing Equity Compensation: During the Term, the Executive shall be eligible to receive annual equity awards with an aggregate grant date fair value of USD 1,500,000 (each an “Annual Equity Award”), which shall be granted pursuant to, and subject to the terms and conditions of, the Company’s Equity Plan and the applicable award agreement issued thereunder.
Unless otherwise determined by the Board or required by the Equity Plan, each Annual Equity Award shall be granted in the form of time-based Restricted Shares, which shall vest in equal monthly installments over a twelve-month period, subject to the Executive’s continued employment through each applicable vesting date. No Restricted Shares shall vest following the Executive’s termination of employment, except as expressly provided in this Agreement or the applicable award agreement.
Each monthly tranche of Restricted Shares shall be settled as soon as administratively practicable after vesting and in accordance with the Equity Plan, and the number of Restricted Shares granted for each Annual Equity Award shall be determined based on the fair market value of the Company’s ordinary shares on the applicable grant date, as defined in the Equity Plan.
(d) Deferred Service Equity Awards: (i) The Executive will be eligible to receive two service-based equity awards, each with a grant date fair value of USD1,500,000 (each, a “Service Equity Award”). The first Service Equity Award shall be granted following the Executive’s completion of twelve (12) consecutive months of employment, and the second Service Equity Award shall be granted following the Executive’s completion of twenty-four (24) consecutive months of employment, in each case subject to (i) the Executive’s continued employment through the applicable grant date and (ii) approval by the Company’s Board of Directors or its Compensation Committee. Unless otherwise determined by the Baord, each Service Equity Award shall be granted in the form of time-based Restricted Shares that vest in full on the applicable anniversary date, subject to the Executive’s continued employment through such date. The number of Restricted Shares subject to each Service Equity Award shall be determined based on the fair market value of the Company’s ordinary shares on the applicable grant date.
(e) Terms of Equity Awards: All equity awards granted to the Executive under this Agreement—including the Signing Equity Award, each Annual Equity Award, and each Service Equity Award (collectively, the “Equity Awards”) shall be subject to the Company’s clawback, recoupment, and forfeiture policies as may be adopted or amended from time to time, and shall be administered and interpreted in a manner intended to comply with Section 409A of the Internal Revenue Code to the extent applicable. Each Equity Award shall be granted in the form of unregistered securities that have not been registered under the Securities Act of 1933, as amended, and, accordingly, the Executive may not sell, transfer, assign, pledge, or otherwise dispose of any shares issued pursuant to the Equity Awards except in compliance with the Company’s insider-trading policies and all applicable U.S. federal and state securities laws. Any resale of such shares must be made in accordance with Rule 144 under the Securities Act (to the extent available), including satisfaction of any applicable holding-period, current-public-information, volume-limitation, manner-of-sale, and notice requirements. The Company shall use commercially reasonable efforts to remain current in its reporting obligations under the Securities Exchange Act of 1934 for purposes of making Rule 144 available to the Executive.
(f) Performance Bonus: If the Executive successfully leads the Company to achieve an aggregate of USD500,000,000 in sale orders within the first twelve (12) months from the Commencement Date, the Executive will be entitled to a one-time performance bonus of USD3,000,000, payable in cash at the end of the fiscal quarter immediately following confirmation of this achievement. If the full USD500,000,000 in sale orders is not met within the first twelve (12) months, the bonus will be pro-rated based on the actual achievement ratio, provided that this ratio exceeds 50%. The prorated bonus will be payable upon completion of twelve (12) months of service from the Commencement Date. No bonus will be awarded if the achievement ratio is 50% or below.
(g) Subsequent Year Performance Bonuses: For each of the second and third years of the Initial Term, the Executive shall be eligible to earn an annual performance bonus with a maximum one-time payout of USD 3,000,000 per year. The key performance indicators (“KPIs”), performance metrics, and minimum thresholds applicable to each such year shall be mutually agreed upon by the Executive and the Compensation Committee prior to the start of the applicable performance year and documented in a written addendum to this Agreement. Each annual bonus shall be determined in accordance with the approved KPIs and shall be payable following the Compensation Committee’s certification of results. Payment of any annual performance bonus is conditioned upon the Executive’s continuous employment with the Company through the applicable bonus payment date.
(h) Insurance: During the term of this Agreement, the Company shall include the Executive under its’ directors and officers insurance policy. The Company shall have appropriate directors and officers insurance policies that provide reasonable coverage for a publicly listed company in the artificial intelligence sector.
(i) Payment of all compensation to Executive shall be made in accordance with the terms of this Agreement, applicable state or federal law, and applicable Company policies in effect from time to time, including normal payroll practices, and shall be subject to all applicable withholdings and taxes.
Section 1.04 Business Expenses. The Company shall reimburse Executive for all business expenses that are reasonable and necessary and incurred by Executive while performing his duties under this Agreement, upon presentation of expense statements, receipts and/or vouchers or such other information and documentation as the Company may reasonably require.
Article II. Confidential Information; Post-Employment Obligations; Company Property
Section 2.01 Company Property. As used in this Article II, the term the “Company” refers to the Company and each of its direct and indirect subsidiaries. All written materials, records, data and other documents relating to Company business, products or services prepared or possessed by Executive during Executive’s employment by the Company are the Company’s property. All information, ideas, concepts, improvements, discoveries and inventions that are conceived, made, developed or acquired by Executive individually or in conjunction with others during Executive’s employment (whether during business hours and whether on Company’s premises or otherwise) that relate to Company business, products or services are the Company’s sole and exclusive property. All memoranda, notes, records, files, correspondence, drawings, manuals, models, specifications, computer programs, maps and all other documents, data or materials of any type embodying such information, ideas, concepts, improvements, discoveries and inventions are Company property. At the termination of Executive’s employment with the Company for any reason, Executive shall return all of the Company’s documents, data or other Company property to the Company.
Section 2.02 Confidential Information; Non-Disclosure.
(a) Executive acknowledges that the business of the Company is highly competitive and that the Company will provide Executive with access to Confidential Information. Executive acknowledges that this Confidential Information constitutes a valuable, special and unique asset used by the Company in its business to obtain a competitive advantage over competitors. Executive further acknowledges that protection of such Confidential Information against unauthorized disclosure and use is of critical importance to the Company in maintaining its competitive position. Executive agrees that Executive will not, at any time during or after Executive’s employment with the Company, make any unauthorized disclosure of any Confidential Information of the Company, or make any use thereof, except in the carrying out of Executive’s employment responsibilities to the Company. Executive also agrees to preserve and protect the confidentiality of third party Confidential Information to the same extent, and on the same basis, as the Company’s Confidential Information.
(b) For purposes hereof, “CONFIDENTIAL INFORMATION” includes all non-public information regarding the Company’s business operations and methods, existing and proposed investments and investment strategies, seismic, well-log and other geologic and oil and gas operating and exploratory data, financial performance, compensation arrangements and amounts (whether relating to the Company or to any of its employees), contractual relationships, business partners and relationships (including customers and suppliers), strategies, business plans and other confidential information that is used in the operation, technology and business dealings of the Company, regardless of the medium in which any of the foregoing information is contained, so long as such information is actually confidential and proprietary to the Company.
Section 2.03 Non-Solicitation of Executives. For a period of six (6) months following the Termination Date, Executive will not, either directly or indirectly, call on, solicit or induce any other executive or officer of the Company or its affiliates with whom Executive had contact, knowledge of, or association with in the course of employment with the Company to terminate his employment, and will not assist any other person or entity in such a solicitation; PROVIDED, HOWEVER, that with respect to soliciting any executive or officer whose employment was terminated by the Company or its affiliates, or general solicitations for employment not targeted at current officers or employees of the Company or its affiliates, the foregoing restriction shall not apply.
Section 2.04 Non-Competition. During the Executive’s employment and for six (6) months thereafter (the “Restricted Period”), the Executive shall not, without the Board’s prior written consent, directly or indirectly: (a) engage in, provide services to, or participate in the establishment or financing of any business that competes in any material respect with the Company or any of its subsidiaries; or (b) induce or attempt to induce any customer, client, supplier, or business partner of the Company to cease or materially reduce its business with the Company. This restriction applies only in jurisdictions where the Company or its subsidiaries conduct or have material business operations. The Executive acknowledges that these limitations are reasonable and necessary to protect the Company’s legitimate interests and agrees that any breach would cause irreparable harm entitling the Company to injunctive and other equitable relief.
Article III. Termination of Employment
Section 3.01 Termination of Employment.
(a) General: The rights of Executive upon termination will be governed by this ARTICLE III.
(b) Definitions: For purposes hereof:
(i) “CAUSE” shall include (A) continued failure by Executive to perform substantially Executive’s duties and responsibilities (other than a failure resulting from Permanent Disability) that is materially injurious to the Company and that remains uncorrected for 10 days after receipt of appropriate written notice from the Board; (B) engagement in willful, reckless or grossly negligent misconduct that is materially injurious to Company or any of its affiliates, monetarily or otherwise; (C) except as provided by (D), the indictment of Executive with a crime involving moral turpitude or a felony; (D) the indictment of Executive for an act of criminal fraud, misappropriation or personal dishonesty; or (E) a material breach by Executive of any provision of this Agreement that is materially injurious to the Company and that remains uncorrected for 10 days following written notice of such breach by the Company to Executive identifying the provision of this Agreement that Company determined has been breached. For purposes of (C) and (D), if the criminal charge is subsequently dismissed with prejudice or the Executive is acquitted at trial or on appeal then the Executive will be deemed to have been terminated without Cause.
(ii) “CHANGE OF CONTROL” means the occurrence of any one or more of the following events that occurs after the Effective Date:
1) Any “person” (as such term is used in sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “EXCHANGE ACT”)) becomes a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing more than 50% of the voting power of the then outstanding securities of the Company; provided that a Change of Control shall not be deemed to occur as a result of a transaction in which the Company becomes a subsidiary of another corporation and in which the stockholders of the Company, immediately prior to the transaction, will beneficially own, immediately after the transaction, shares entitling such stockholders to more than 50% of all votes to which all stockholders of the parent corporation would be entitled in the election of directors; or
2) The consummation of (A) a merger or consolidation of the Company with another corporation where the stockholders of the Company, immediately prior to the merger or consolidation, will not beneficially own, immediately after the merger or consolidation, shares entitling such stockholders to more than 50% of all votes to which all stockholders of the surviving corporation would be entitled in the election of directors, (B) a sale or other disposition of all or substantially all of the assets of the Company, or (C) a liquidation or dissolution of the Company.
(iii) “GOOD REASON” shall mean one or more of the following conditions arising not more than six months before Executive’s termination date without Executive’s consent: (A) a material breach by the Company of any provision of this Agreement; (B) assignment by the Board or a duly authorized committee thereof to Executive of any duties that materially and adversely alter the nature or status of Executive’s position, job descriptions, duties, title or responsibilities from those of a President and Chief Executive Officer, or eligibility for Company compensation plans; (C) requirement by the Company for Executive to relocate to a primary place of business which is more than 50 miles away from the Executive’s primary place of business as of the Effective Date of this Agreement; or (D) a material reduction in Executive’s Base Salary in effect at the relevant time. Notwithstanding anything herein to the contrary, Good Reason will exist only if Executive provides notice to the Company of the existence of the condition otherwise constituting Good Reason within 90 days of the initial existence of the condition, and the Company fails to remedy the condition on or before the 30th day following its receipt of such notice.
(iv) Involuntary Termination. For purposes of this Agreement, “Involuntary Termination” shall mean either: a termination without Cause or a termination for Good Reason. In no event will it be deemed an independent and sufficient basis for an Involuntary Termination
(c) Involuntary Termination.
(i) Involuntary Termination After Change in Control. If, prior to the expiration of the Employment Period and within twelve (12) months following a Change in Control, Executive is subject to an Involuntary Termination (as defined in Section 3.01(b)(iv)), then the Company will pay “Change in Control Severance Benefits” to Executive (which shall be the sole benefits Executive is entitled to under these circumstances). The Change in Control Severance Benefits will be a payment (less applicable withholdings and deductions) equivalent to 1 month(s) of Executive’s Base Salary (as in effect immediately prior to the Change in Control, or the date of the termination of Executive’s employment, whichever is greater), payable as a single lump sum within 74 days of Executive’s termination of employment.
(ii) Involuntary Termination — No Change in Control. If, prior to the expiration of the Employment Period, no Change in Control has occurred in the preceding twelve (12) months and Executive is subject to an Involuntary Termination (as defined in Section 3.01(b)(iv)), then the Company will pay “Severance Benefits” to Executive (which shall be the sole benefits Executive is entitled to under these circumstances). The Severance Benefits will be a payment (less applicable withholdings and deductions) equivalent to 1 month(s) of Executive’s Base Salary as in effect immediately prior to the date of Executive’s termination of employment, payable as a single lump sum within 74 days of the termination of Executive’s employment.
(iii) Determination of Good Reason. In order for Executive to terminate for Good Reason, (i) Executive must notify the Board, in writing, within ninety (90) days of the event constituting Good Reason of Executive’s intent to terminate employment for Good Reason, that specifically identifies in reasonable detail the facts and events that the Executive believes constitute Good Reason; (ii) the event must remain uncured for thirty (30) days following the date that Executive notifies the Board in writing of Executive’s intent to terminate employment for Good Reason (the “Notice Period”), and; (iii) the termination date must occur within sixty (60) days after the expiration of the Notice Period.
(d) Voluntary Resignation; Termination For Cause. If Executive’s employment with the Company terminates (i) voluntarily by Executive (other than for Good Reason during the period following a Change in Control) or (ii) by the Company for Cause, then Company shall have no duty to make any payments or provide any benefits to Executive pursuant to this Agreement other than the amount of Executive’s Base Salary, if any, accrued through the Termination Date. The use of the term “Cause” in Section 3.01.b.i in no way limits the right of the Company to terminate Executive’s employment pursuant to the provisions of this Article III. The Company must notify the Executive, in writing, that the Executive is being terminated for Cause, and such notice shall identify in reasonable detail the facts and events that the Company believes constitute Cause.
(e) Accrued Wages; Expenses. Without regard to the reason for, or the timing of, Executive’s termination of employment: (i) the Company will pay Executive any unpaid Base Salary due for periods prior to the Termination Date, and; (ii) following submission of proper expense reports by Executive, the Company will reimburse Executive for all expenses reasonably and necessarily incurred by Executive in connection with the business of the Company prior to the Termination Date. These payments will be made promptly upon the Termination Date and within the period of time mandated by law, subject to provisions set forth herein.
Article IV. Miscellaneous
Section 4.01 Notices. All notices and other communications required or permitted to be given hereunder shall be in writing and shall be deemed to have been duly given if delivered personally, mailed by certified mail (return receipt requested) or sent by overnight delivery service, or electronic mail, or facsimile transmission.
Section 4.02 Severability and Reformation. If any one or more of the terms, provisions, covenants or restrictions of this Agreement shall be determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions shall remain in full force and effect, and the invalid, void or unenforceable provisions shall be deemed severable. Moreover, if any one or more of the provisions contained in this Agreement shall for any reason be held to be excessively broad as to duration, geographical scope, activity or subject, it shall be reformed by limiting and reducing it to the minimum extent necessary, so as to be enforceable to the extent compatible with the applicable law as it shall then appear.
Section 4.03 Assignment. This Agreement shall be binding upon and inure to the benefit of the heirs and legal representatives of Executive and the permitted assigns and successors of the Company, but neither this Agreement nor any rights or obligations hereunder shall be assignable or otherwise subject to hypothecation by Executive (except by will or by operation of the laws of intestate succession) or by the Company, except that the Company may assign this Agreement to any successor (whether by merger, purchase or otherwise), if such successor expressly agrees to assume the obligations of the Company hereunder.
Section 4.04 Amendment. This Agreement may be amended only by writing signed by Executive and by the Company.
Section 4.05 GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED, INTERPRETED AND GOVERNED IN ACCORDANCE WITH THE LAWS OF THE BRITISH VIRGIN ISLANDS, WITHOUT REFERENCE TO RULES RELATING TO CONFLICTS OF LAW.
Section 4.06 Jurisdiction. Each of the parties hereto hereby irrevocably consents and submits to the exclusive jurisdiction of the state and federal courts located in The British Virgin Islands in connection with any proceeding arising out of or relating to this Agreement or the transactions contemplated hereby and waives any objection to venue in The British Virgin Islands . In addition, each of the parties hereto hereby waives trial by jury in connection with any claim or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby.
Section 4.07 Entire Agreement. This Agreement contains the entire understanding between the parties hereto with respect to the subject matter hereof and supersedes in all respects any prior or other agreement or understanding, written or oral, between the Company or any affiliate of the Company and Executive with respect to such subject matter, including the Employment Agreement.
Section 4.08 Counterparts; Electronic Signatures. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. Signatures delivered by electronic transmission (including by PDF, DocuSign, or other electronic means) shall be deemed to have the same effect as original signatures for all purposes.
Section 4.09 Construction. The headings and captions of this Agreement are provided for convenience only and are intended to have no effect in construing or interpreting this Agreement. The language in all parts of this Agreement shall be in all cases construed in accordance to its fair meaning and not strictly for or against the Company or Executive. The words “include,” “includes,” and “including” will be deemed to be followed by “without limitation.”
[signature page follows]
IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first written above:
| SuperX AI Technology Limited. | |
| /s/ Yu Chun Kit | |
| Name: Yu Chun Kit | |
| Title: Executive Director | |
| Executive | |
| /s/ Dr. Chenhong Huang | |
| Dr. Chenhong Huang | |
Exhibit 99.1
SuperX AI Technology Limited Appoints Enterprise Technology Veteran Dr. Chenhong Huang as Chairman and CEO to Lead Global AI Infrastructure Expansion
Dr. Huang’s Three Decades of Multinational Executive Leadership Experience at SAP, Dell, and Schneider Electric Positions Him to Accelerate SuperX’s Modular AI Factory and Full-Stack Infrastructure Strategy
SINGAPORE – November 17, 2025 – SuperX AI Technology Limited (Nasdaq: SUPX) (“SuperX” or “the Company”), a full-stack AI infrastructure solutions provider, today announced the appointment of Dr. Chenhong Huang as Chairman of the Board, Executive Director, and Chief Executive Officer of the Company, effective December 1, 2025.
As global demand for AI computing continues to rise, enterprises are increasingly seeking integrated and energy-efficient infrastructure solutions. This appointment comes at an important stage in SuperX’s development as the Company continues to advance its global expansion efforts. The Board believes that experienced leadership will support the Company’s ability to execute its strategic priorities. This strategic appointment marks a pivotal step in SuperX’s journey to becoming a global leader in AI infrastructure as Dr. Huang brings with him decades of executive leadership experience to the company. The appointment is expected to significantly enhance the Company’s executive management and corporate governance. It is designed to leverage Dr. Huang’s exceptional leadership and profound industry experience to accelerate the company’s modular AI factory and full-stack infrastructure strategy.
This move follows the recent appointment of Frank Han as Executive Director and Roy Rong as Independent Director on November 11, 2025. Frank Han was a Senior Principal at The Blackstone Group, and he also had prior experience with The Carlyle Group in the U.S. Buyout Group, Goldman Sachs’ Asia Special Situations Group and McKinsey & Company. Roy Rong currently serves as the Finance BP Head for TikTok and Global Functions. He also served as an independent director and audit committee chair for Mogu inc. (NYSE: MOGU) and Cheche Group Inc. (NASDAQ: CCG), as well as chief financial officer and financial management positions at Yixia Technology Co., Ltd., Quixey Inc., UC Web, and Country Style Cooking Restaurant Chain Co., Ltd. (NYSE: CCSC), Google, Solectron and Sibel Systems.
Dr. Chenhong Huang: A seasoned Leader to Helm SuperX’s New Chapter in AI Infrastructure
Dr. Chenhong Huang is an experienced enterprise technology leader with an illustrious three-decade career of successfully leading and scaling multinational business operations. His appointment is a forward-looking decision by SuperX to enhance strategic execution and global expansion, and it deeply aligns with SuperX’s mission to build end-to-end AI infrastructure.
| ● | Exceptional Expertise in Scaling Complex Technology Operations: Dr. Huang has served as Global Executive Vice President and President of Greater China at SAP, as well as Chairman and President of Greater China at Dell, successfully managing and scaling some of the world’s most complex enterprise technology businesses. This experience provides him with a deep understanding of how to build and manage highly sophisticated operational systems at a global scale. SuperX is committed to building a global “AI Factory” blueprint—an unprecedented challenge that is the perfect arena for Dr. Huang’s extensive experience in scaled operations and executive leadership. He will be involved in deploying the Company’s AI infrastructure solutions efficiently and methodically worldwide, with the aim of bringing predictable scale and growth returns to the company. |
| ● | Profound Expertise in Data Center Infrastructure and Power Solutions: During his tenure as President, Greater China, at APC in Schneider Electric, Dr. Huang accumulated critical practical experience and professional knowledge in data center power and cooling infrastructure. This is of paramount importance to SuperX, as the cornerstone of high-performance AI is stable, efficient infrastructure—particularly its proprietary liquid cooling solutions. Dr. Huang’s professional background will aid SuperX in optimizing its core technologies, ensuring the delivery of green, cost-effective compute power to its clients. |
| ● | Solid Foundation in Core Networking and Technology Capabilities: Dr. Huang’s early career at Tellabs and Nortel Networks provided him with a strong technical foundation and management experience in networking. This provides him a solid base for him to lead SuperX, a company rooted in a “hardware + software + service” full-stack model, ensuring the company maintains its edge in technology innovation and integration. |
“I am extremely honored to lead SuperX in this golden age of AI,” said Dr. Chenhong Huang. “Market demand is rapidly shifting from single components to integrated, end-to-end, rapidly deployable large-scale solutions—what we define as the ‘AI Factory.’ SuperX possesses a clear strategic vision and a truly disruptive technology stack. My first priority is to focus on operational execution, accelerate the global deployment of our full-stack AI infrastructure, build SuperX into a global leader in the AI infrastructure field, and create long-term sustainable value for our shareholders.”
Biography of Dr. Chenhong Huang
Dr. Chenhong Huang is a seasoned technology executive with more than 30 years of leadership experience across global enterprise software, cloud, and IT infrastructure companies. Since April 2025, he has served as a Board Member of Yonyou, a leading Chinese enterprise software company, where he previously served as President from January to March 2025. Prior to that, Dr. Huang was Global Executive Vice President and President of SAP Greater China from August 2021 to December 2024, where he oversaw significant cloud revenue growth.. From October 2014 to August 2021, he served as Chairman and President of Dell Greater China, where he guided the expansion of Dell’s business in the region and led the integration of EMC following its acquisition. Earlier in his career, Dr. Huang held senior leadership positions with APC by Schneider Electric, Tellabs Corporation, and Nortel Corporation, including President of APC Greater China, Chairman of Zhuhai Uniflair, President of Tellabs China, and President of Carrier Sales for Nortel China. Dr. Huang holds a Ph.D. in Electrical Engineering from Texas A&M University, an M.S. in Electrical Engineering from Fudan University, and a B.S. in Physics from Fudan University. Dr. Huang is a U.S. citizen.
About SuperX AI Technology Limited (NASDAQ: SUPX)
SuperX AI Technology Limited is an AI infrastructure solutions provider, offering a comprehensive portfolio of proprietary hardware, advanced software, and end-to-end services for AI data centers. The Company’s services include advanced solution design and planning, cost-effective infrastructure product integration, and end-to-end operations and maintenance. Its core products include high-performance AI servers, 800 Volts Direct Current (800VDC) solutions, high-density liquid cooling solutions, as well as AI cloud and AI agents. Headquartered in Singapore, the Company serves institutional clients globally, including enterprises, research institutions, and cloud and edge computing deployments. For more information, please visit www.superx.sg
Safe Harbor Statement
This press release may contain forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement.
Forward-looking statements are only predictions. The reader is cautioned not to rely on these forward-looking statements. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.
Contact Information
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