* Revenue was US$214.0 million, representing an increase of 7.8% from US$198.6 million in the same period of 2024.
* In the third quarter of 2025, the Company opened two new Haidilao restaurants, closed one Haidilao restaurant due to lease expiration, and converted one Haidilao restaurant to a secondary branded restaurant as a strategic adjustment. As of the end of the third quarter of 2025, the Company had opened 10 new Haidilao restaurants this year, maintaining a total of 126 Haidilao restaurants in operation, unchanged from the previous quarter.
* Overall average table turnover rate was 3.9 times per day, compared to 3.8 times per day in the same period of 2024; overall average same-store table turnover rate was 4.0 times per day, compared to 3.9 times per day in the same period of 2024.
* Had over 8.1 million total guest visits, representing an increase of 9.5% from 7.4 million in the same period of 2024.
* Same-store sales were US$182.2 million, representing an increase of 2.3% from US$178.1 million in the same period of 2024.
* Income from operation was US$12.6 million, compared to US$14.9 million in the same period of 2024, representing a year-over-year decrease of 15.4%; compared to the previous quarter, income from operation has increased by US$8.9 million, representing a sequential growth of 240.5%.
* Income from operation margin was 5.9%, compared to 7.5% in the same period of 2024, representing a decline of 1.6 percentage points; Income from operation margin has increased by 4.0 percentage points compared to the previous quarter.
Ms. Yang Lijuan, CEO & Executive Director of Super Hi, commented, “During the third quarter of 2025, Haidilao restaurants achieved an improvement of 0.1 times per day for both overall average table turnover rate and overall average same-store table turnover rate, compared to the same period last year. Revenue for Haidilao restaurants grew by 5.1% compared to the same period last year, with same-store sales rising by 2.3%. Overall company revenue increased by 7.8% year-over-year. Meanwhile, as we continue to implement refined management practices, consistently strive to balance rewarding customers and employees with improving operational efficiency, the Company’s income from operation margin reached 5.9% during this quarter, representing an improvement of 4.0 percentage points improvement from the previous quarter. The Company’s income from operation increased by US$8.9 million compared to the previous quarter, representing a 240.5% quarter-over-quarter growth. Relative to the second quarter of 2025, the variances between income from operation and income from operation margin compared to the same quarter in prior year narrowed. We will continue to enhance our management capabilities, strengthening our digital and intelligent middle platform, which will empower frontline store management and the advancement of the “Pomegranate Plan”, while actively expanding our business and exploring new opportunities globally.”
Third Quarter 2025 Financial Results
Revenue was US$214.0 million, representing an increase of 7.8% from US$198.6 million in the same period of 2024.
* Revenue from Haidilao restaurant operations was US$200.7 million, representing an increase of 5.1% from US$190.9 million in the same period of 2024. The increase was mainly driven by (i) ongoing business expansion and increased brand influence; and (ii) continuous efforts to increase guest visits and table turnover rates.
* Revenue from delivery business was US$4.4 million, representing an increase of 69.2% from US$2.6 million in the same period of 2024, primarily due to (i) the continuous optimization of delivery products and services based on market demand; and (ii) strategic marketing collaborations with local food delivery platforms.
* Revenue from other business was US$8.9 million, representing an increase of 74.5% from US$5.1 million in the same period of 2024, driven by (i) the increasing popularity of hot pot condiment products among local customers and retailers; and (ii) the incubation of secondary branded restaurants under the Pomegranate Plan through strategic exploration of diverse business forms.
Raw materials and consumables used were US$71.2 million, representing an increase of 8.7% from US$65.5 million in the same period of 2024, primarily driven by the increase in food ingredient costs resulting from business expansion and revenue growth. In the third quarter of 2025, raw materials and consumables used as a percentage of revenue increased to 33.3% from 33.0% in the same period of 2024.
Staff costs were US$71.0 million, representing an increase of 7.9% from US$65.8 million in the same period of 2024. The increase was primarily due to (i) a rise in the number of employees, reflecting the expansion of restaurant network compared to the prior year, and (ii) higher guest visits and an improved table turnover rate. As a percentage of revenue, staff costs were 33.2% in the third quarter of 2025, compared to 33.1 % in the same period of 2024.
Income from operation was US$12.6 million, representing a decrease of 15.4% from US$14.9 million in the same period of 2024. Income from operation margin was 5.9%, compared to 7.5% in the same period of 2024. This decrease in income from operation margin was mainly attributable to (i) the continued investment in customer and employee benefit initiatives, which partially offsets the increase in revenue; (ii) increased outsourcing service fees resulting from the business and restaurant network expansion; (iii) increased short-term lease payments aligned with the warehouse leasing expansion; and (iv) increased investments for business expansion, particularly secondary brand development.
Profit for the period was US$3.6 million, compared to US$37.7 million in the same period of 2024. In addition to the aforementioned decrease in income from operation, this change was mainly due to an increase in net foreign exchange loss of US$31.7 million in the third quarter of 2025 as compared with the same period of 2024, primarily attributable to foreign exchange fluctuations, particularly the revaluation of local currencies against the U.S. dollar.
Basic and diluted net profit per share were both US$0.01 compared to a basic and diluted net profit per share of US$0.06 in the same period of 2024.
____________________________
Calculated by dividing the total tables served for the period by the product of total Haidilao restaurant operation days for the period and average table count during the period.
Calculated by dividing the total tables served for the period by the product of total Haidilao restaurant operation days for the period and average table count at the Company’s same stores during the period.
Refers to the gross revenue of Haidilao restaurant operation at the same stores for the periods indicated.
Calculated by excluding interest income, finance costs, unrealized foreign exchange differences arising from remeasurement of balances which are not denominated in functional currency, net gain arising on financial assets at fair value through profit or loss and income tax expense from profit (loss) for the period.
Calculated by dividing income from operation by total revenue.
Operational Highlights
Haidilao Restaurant Performance
The following table summarizes key performance indicators of Haidilao’s restaurants for the quarters indicated.
Notes:
(1) Others include Australia, the United Kingdom, and the United Arab Emirates.
(2) Calculated by dividing total number of tables served for the period by the product of total Haidilao restaurant operation days for the period and average table count during the period in the same geographic regions.
(3) Calculated by dividing gross revenue of Haidilao restaurant operation for the period by total guests served for the periods in the same geographic region.
(4) Calculated by dividing the revenue of Haidilao restaurant operation for the period by the total Haidilao restaurant operation days of the periods in the same geographic region.
Same-Store Sales
The following table sets forth details of the Company’s same-store sales for the quarters indicated.
Notes:
(1) Includes restaurants that commenced operations prior to the beginning of the periods under comparison and opened for more than 75 days in the third quarter of 2025 and 2024, respectively.
(2) Refers to the aggregate gross revenue from Haidilao restaurant operation at the Company’s same stores for the period indicated.
(3) Calculated by dividing the gross revenue from Haidilao restaurant operation for the period by the total Haidilao restaurant operation days at the Company’s same stores for the period.
(4) Calculated by dividing the total tables served for the period by the product of total Haidilao restaurant operation days for the period and average table count at the Company’s same stores during the period.
(5) Others include Australia, the United Kingdom, and the United Arab Emirates.
About Super Hi
Super Hi operates Haidilao hot pot restaurants in the international market. Haidilao is a leading Chinese cuisine restaurant brand. With roots in Sichuan from 1994, Haidilao has become one of the most popular and largest Chinese cuisine brands in the world. With over 31 years of brand history, Haidilao is well-loved by guests for its unique dining experience — warm and attentive service, great ambiance and delicious food, standing out among global restaurant chains, which has made Haidilao restaurants into a worldwide cultural phenomenon. Haidilao has been ranked as one of the world’s most valuable restaurant brands for six consecutive years since 2019, earning the title of “World’s Strongest Restaurant Brand” for 2024 (Brand Finance). As of September 30, 2025, Super Hi had 126 self-operated Haidilao restaurants in 14 countries across four continents.
Forward-Looking Statements
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will”, “expects”, “anticipates”, “aims”, “future”, “intends”, “plans”, “believes”, “estimates”, “likely to” and similar statements. Super Hi may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the “SEHK”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Super Hi’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Super Hi’s operations and business prospects; future developments, trends and conditions in the industry and markets in which Super Hi operates; Super Hi’s strategies, plans, objectives and goals and Super Hi’s ability to successfully implement these strategies, plans, objectives and goals; Super Hi’s ability to maintain an effective food safety and quality control system; Super Hi’s ability to continue to maintain its leadership position in the industry and markets in which Super Hi operates; Super Hi’s dividend policy; Super Hi’s capital expenditure plans; Super Hi’s expansion plans; Super Hi’s future debt levels and capital needs; Super Hi’s expectations regarding the effectiveness of its marketing initiatives and the relationship with third-party partners; Super Hi’s ability to recruit and retain qualified personnel; relevant government policies and regulations relating to Super Hi’s industry; Super Hi’s ability to protect its systems and infrastructures from cyber-attacks; general economic and business conditions globally; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Super Hi’s filings with the SEC and the announcements and filings on the website of the SEHK. All information provided in this press release is as of the date of this press release, and Super Hi does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Contacts
Investor Relations
Email: [email protected]
Phone: +1 (212) 574-7992
Public Relations
Email: [email protected]
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
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* Less than USD 1,000
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