SINGAPORE, Nov. 26, 2025 (GLOBE NEWSWIRE) — Super Hi International Holding Ltd. (NASDAQ: HDL and HKEX: 9658) (“Super Hi” or the “Company”), a leading Chinese cuisine restaurant brand operating Haidilao hot pot restaurants in the international market, today announced its unaudited financial results for the third quarter ended September 30, 2025.
Third Quarter 2025 Highlights
* 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 rate1 was 3.9 times per day, compared to 3.8 times per day in the same period of 2024; overallaverage same-store table turnover rate2 was 4.0 times per day, compared to 3.9 times per day in the same period of 2024.
* Had over 8.1 million totalguest visits, representing an increase of 9.5% from 7.4 million in the same period of 2024.
* Same-store sales3 were US$182.2 million, representing an increase of 2.3% from US$178.1 million in the same period of 2024.
* Income from operation4 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 margin5 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 rate1 and overall average same-store table turnover rate2, 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 sales3 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 margin5 reached 5.9% during this quarter, representing an improvement of 4.0 percentage points improvement from the previous quarter. The Company’s income from operation4 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 operation4 and income from operation margin5 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.
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* 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 operation4 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 margin5 was 5.9%, compared to 7.5% in the same period of 2024. This decrease in income from operation margin5 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 operation4, 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.
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Basic and diluted net profit per share were both US$0.01 compared to a basic and diluted net profit per share of US$0.06 in the same period of 2024.
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1 Calculated by dividing the total tables served for the period by the product of total Haidilao restaurant operation days for the period and average table count during the period.
2 Calculated by dividing the total tables served for the period by the product of total Haidilao restaurant operation days for the period and average table count at the Company’s same stores during the period.
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3 Refers to the gross revenue of Haidilao restaurant operation at the same stores for the periods indicated.
4 Calculated by excluding interest income, finance costs, unrealized foreign exchange differences arising from remeasurement of balances which are not denominated in functional currency, net gain arising on financial assets at fair value through profit or loss and income tax expense from profit (loss) for the period.
5 Calculated by dividing income from operation4 by total revenue.
Operational Highlights
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Haidilao Restaurant Performance
The following table summarizes key performance indicators of Haidilao’s restaurants for the quarters indicated.
As of/For the Three Months Ended September 30, 20252024Number of restaurants
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Southeast Asia
East Asia
North America
Others(1)
Total
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74
20
20
12
126
73
18
20
10
121
Total guest visits(million) Southeast Asia5.35.2East Asia1.20.8North America1.00.9Others(1)0.60.5Total8.17.4 Average table turnover rate(2)(times per day) Southeast Asia3.73.6East Asia4.94.3North America4.03.9Others(1)3.73.8Overall3.93.8 Average spending per guest(3)(US$) Southeast Asia19.120.4East Asia28.929.2North America39.143.5Others(1)39.443.0Overall24.625.8
Average daily revenue per restaurant(4) (US$ in thousands) Southeast Asia15.515.7East Asia20.317.7North America22.121.5Others(1)22.924.3Overall18.017.7 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.
As of/For the Three Months Ended September 30, 20252024Number of same stores(1) Southeast Asia64East Asia14North America19Others(5)10Total107 Same store sales(2) (US$ in thousands) Southeast Asia94,63496,007East Asia26,66122,578North America38,28637,095Others(5)22,59722,449Total182,178178,129
Average same store sales per day(3) (US$ in thousands) Southeast Asia16.116.3East Asia20.717.6North America21.921.2Others(5)24.624.4Overall18.518.1 Average same store table turnover rate(4) (times/day) Southeast Asia3.83.8East Asia5.14.3North America3.93.9Others(5)3.83.8Overall4.03.9 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
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Phone: +1 (212) 574-7992
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UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the three months ended September 30, 2025
2024
USD’000USD’000 Revenue214,048 198,616 Other income2,565 2,081 Raw materials and consumables used(71,210)(65,460)Staff costs(71,048)(65,833)Rentals and related expenses(6,123)(5,366)Utilities expenses(7,783)(7,494)Depreciation and amortization(21,400)(20,378)Travelling and communication expenses(1,875)(1,515)Other expenses(21,839)(17,118)Other (losses) gains – net(6,163)25,851 Finance costs(2,869)(2,164)Profit before tax6,303 41,220 Income tax expense(2,710)(3,564)Profit for the period3,593 37,656 Other comprehensive income Item that may be reclassified subsequently to profit or loss: Exchange differences arising on translation of foreign operations3,539 (13,586)Total comprehensive income
for the period
7,132 24,070 Profit for the period attributable to: Owners of the Company3,609 37,724 Non-controlling interests(16)(68) 3,593 37,656 Total comprehensive income
attributable to:
Owners of the Company7,148 24,138 Non-controlling interests(16)(68) 7,132 24,070 Earnings per share Basic and diluted (USD)0.01 0.06 UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
As at September 30,As at December 31, 20252024 USD’000USD’000 Non-current Assets Property, plant and equipment154,653151,901Right-of-use assets197,107185,514Intangible assets259278Deferred tax assets4,8193,799Other receivables1,9611,961Prepayment228373Rental and other deposits19,85817,372 378,885361,198 Current Assets Inventories34,48431,521Trade and other receivables and prepayments31,09930,754Financial assets at fair value through profit or loss49,521-Rental and other deposits5,0783,378Pledged bank deposits2,7622,855Bank balances and cash217,771254,719 340,715323,227 Current Liabilities Trade payables33,55630,711Other payables41,35338,100Amounts due to related parties1,1111,329Tax payables3,2975,411Lease liabilities42,52141,407Contract liabilities10,3909,669Provisions2,4081,941 134,636128,568 Net Current Assets206,079194,659
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
