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Super Hi Reports Unaudited Financial Results for the Fourth Quarter and Full Year 2024

1. HDL's revenue in Q4 2024 increased by 10.4% year-over-year. 2. Total guest visits reached 8.0 million, up 9.6% from Q4 2023. 3. The company's same-store sales growth was 4.2%, improving customer engagement. 4. However, HDL reported a loss of $11.6 million due to foreign exchange fluctuations. 5. Future strategies focus on expanding restaurants and diversifying offerings.

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Why Bullish?

Despite recent losses, growth in revenue and customer visits demonstrate resilience. Historical parallels, such as consistent revenue rises following operational efficiency improvements, bolster optimism.

How important is it?

The article highlights strong expansion and operational efficiency despite short-term losses, vital for investor sentiment and future performance.

Why Long Term?

Long-term growth is supported by strategic global expansions and the Pomegranate plan, aimed at sustainable business diversification.

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SINGAPORE, March 25, 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 three months (“Fourth Quarter 2024”) and the full year ended December 31, 2024 (“Full Year 2024”). Fourth Quarter 2024 Highlights Revenue was US$208.8 million, representing an increase of 10.4% from US$189.2 million in the same period of 2023.In the fourth quarter of 2024, the Company opened 2 restaurants and simultaneously closed 1 restaurant to improve the restaurant configuration. The total number of Haidilao restaurants as of December 31, 2024 was 122, reflecting a net increase of 7 since December 31, 2023.Total table turnover rate1 was 3.9 times per day, and same-store table turnover rate2 was 4.0 times per day, both remaining stable compared to the same period of 2023.Had over 8.0 million total guest visits, representing an increase of 9.6% from 7.3 million in the same period of 2023. This growth was primarily attributable to restaurant network expansion and increased participation in group dining from the Company’s development of diverse group dining scenarios.Same-store sales growth3 was 4.2%.Income from operation margin4 was 8.4%, compared to 6.4% in the same period of 2023. Full Year 2024 Highlights Revenue was US$778.3 million, representing an increase of 13.4% from US$686.4 million in the full year of 2023.Total table turnover rate1 was 3.8 times per day, compared to 3.5 times per day in the full year of 2023. Same-store table turnover rate2 was 3.9 times per day, compared to 3.6 times per day in the full year of 2023.Had over 29.9 million total guest visits, representing an increase of 12.0% from 26.7 million in the full year of 2023.Same-store sales growth3 was 7.1%.Income from operation margin4 was 6.8%, compared to 6.3% in the full year of 2023. Ms. Yang Lijuan, CEO & Executive Director of Super Hi, commented, “This quarter, we continued to implement our strategy of 'Dual focus on employee empowerment and customer-centric operations' through various management tools, driving workforce productivity to provide customers with a pleasant dining experience. This quarter's revenue increased by 10.4% year-over-year, while our income from operation margin4 improved by 2 percentage points compared to the same period of last year, mainly due to our focus on efficiency improvements, including supply chain optimization, enhanced restaurant management efficiency, and strengthened support and coordination between headquarters and stores.” “In 2024, Super Hi continued to explore expansion in overseas markets, strengthening service capabilities for diverse customer segments. In 2024, Haidilao restaurants' average overall table turnover rate was 3.8 times per day, an increase of 0.3 times per day from last year; Haidilao restaurant level operating margin improved by 1.1 percentage points year-over-year. Additionally, we launched the 'Pomegranate plan' in 2024. This strategic initiative draws inspiration from the pomegranate, where each seed represents a unique business form that collectively supports and forms our comprehensive catering service group. These efforts collectively drove a 13.4% year-over-year revenue growth for Super Hi in 2024, with the income from operation margin expanding by 0.5 percentage points during the same year.” “Looking ahead, we remain committed to our strategic vision of becoming a leading global integrated restaurant group. While continuing to expand our Haidilao restaurant network and optimize our store layout, we will intensify support for the 'Pomegranate plan' to further diversify our business offerings and broaden our customer base.” Fourth Quarter 2024 Financial Results Revenue was US$208.8 million, representing an increase of 10.4% from US$189.2 million in the same period of 2023. Revenue from Haidilao restaurant operations was US$199.9 million, representing an increase of 10.0% from US$181.7 million in the same period of 2023. The increase was mainly driven by (i) ongoing business expansion and increased brand influence; and (ii) continuous efforts to increase guest visits.Revenue from delivery business was US$3.5 million, representing an increase of 12.9% from US$3.1 million in the same period of 2023, primarily due to (i) the expansion of the Company’s delivery network; and (ii) enhanced partnerships with local delivery platforms.Revenue from other business was US$5.4 million, representing an increase of 22.7% from US$4.4 million in the same period of 2023, driven by (i) the increasing popularity of hot pot condiment products and Haidilao-branded and sub-branded food 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$67.7 million, representing an increase of 2.9% from US$65.8 million in the same period of 2023. As a percentage of revenue, raw materials and consumables used decreased to 32.4% in the fourth quarter of 2024 from 34.8% in the same period of 2023. This decrease was primarily attributable to (i) enlargement of business scale driven by revenue increase; and (ii) the optimization of the Company’s procurement costs. Staff costs were US$67.2 million, representing an increase of 9.6% from US$61.3 million in the same period of 2023. The increase was primarily due to (i) an increase in the number of employees in line with restaurant network expansion compared to the same period of 2023, along with an increase in guest visits and table turnover rate; and (ii) the Company’s operational strategy of ensuring a sufficient number of employees to provide superior customer experience in catering services, product quality, restaurant environment and food safety. As a percentage of revenue, staff costs remained relatively stable at 32.2% in the fourth quarter of 2024, compared to 32.4% in the fourth quarter of 2023. Income from operation5 was US$17.5 million, representing an increase of 44.6% from US$12.1 million in the same period of 2023. Income from operation margin4 was 8.4%, compared to 6.4% in the same period of 2023. This increase in income from operations was mainly attributable to (i) an increase in revenue and table turnover rate as described above; and (ii) an improvement in operational efficiency, especially through the optimization of the global supply chain and enhanced cost control. Loss for the period was US$11.6 million, compared to a profit of US$23.3 million in the same period of 2023. This change was mainly due to an increase in net foreign exchange loss of US$40.4 million, primarily attributable to foreign exchange fluctuations, particularly the depreciation of local currencies against the U.S. dollar, which is partially offset by (i) an increase in revenue driven by ongoing business expansion and continuous efforts in increasing guest visits and table turnover rate; and (ii) an improvement in operational efficiency. Basic and diluted net loss per share were both US$0.02, compared to a basic and diluted net profit per share of US$0.04 in the same period of 2023. Full Year 2024 Financial Results Revenue was US$778.3 million, representing an increase of 13.4% from US$686.4 million in the full year of 2023. Revenue from Haidilao restaurant operations was US$747.3 million, representing an increase of 13.0% from US$661.2 million in the full year of 2023. The increase was mainly driven by (i) the enhanced Haidilao restaurant operations driven by improved table turnover rates and customer traffic growth through the Company’s continuous efforts; and (ii) the continued strategic expansion of its business network throughout 2024.Revenue from delivery business was US$11.3 million, representing an increase of 15.3% from US$9.8 million in the full year of 2023, primarily due to (i) the growth of the Company’s brand influence; and (ii) its continuous efforts in promoting its food delivery services by collaborating with local food delivery platforms.Revenue from other business was US$19.7 million, representing an increase of 27.9% from US$15.4 million in the full year of 2023, driven by (i) the increasing popularity of hot pot condiment products and Haidilao-branded and sub-branded food products among local customers and retailers; and (ii) the incubation of secondary branded restaurants through the strategic exploration of diverse business forms. Raw materials and consumables used were US$257.7 million, representing an increase of 9.8% from US$234.7 million in the full year of 2023. As a percentage of revenue, raw materials and consumables used decreased to 33.1% in the full year of 2024 from 34.2% in the full year of 2023. This decrease was primarily attributable to (i) enlargement of business scale driven by revenue increase; (ii) the optimization of the Group’s procurement costs; and (iii) the enhancement of its restaurant management strategies, including the development of localized supply chains tailored to restaurant operations. Staff costs were US$259.3 million, representing an increase of 14.7% from US$226.0 million in the full year of 2023. The increase was primarily due to the increase in the number of employees, which was in line with (i) the expansion of the restaurant network; (ii) the increase in guest visits and table turnover rate; and (iii) our operation strategy of ensuring sufficient number of employees to provide superior customer experience in catering services, product quality, restaurant environment and food safety, as well as the increase in statutory minimum wages in certain countries where we operated. As a percentage of revenue, the Group’s staff costs increased from 32.9% in 2023 to 33.3% in 2024. Income from operation5 was US$53.3 million, representing an increase of 23.7% from US$43.1 million in the full year of 2023. Income from operation margin4 was 6.8%, compared to 6.3% in the full year of 2023. This increase in income from operations was mainly attributable to an increase in the Group’s revenue with economies of scale driving optimization of operating expenses, as well as an improvement in gross profit margin driven by supply chain optimization. Profit for the year was US$21.4 million, representing a decrease of 15.4% from US$25.3 million in 2023. This change was primarily due to the increase in net foreign exchange loss of US$14.7 million, driven mainly by foreign exchange fluctuations, particularly the depreciation of local currencies against the U.S. dollar, which is partially offset by (ii) an increase in revenue driven by ongoing business expansion and continuous efforts in increasing guest visits and table turnover rate; and (iii) an improvement in operational efficiency. Basic and diluted net profit per share were both US$0.04, compared to US$0.05 in the full year of 2023. Non-IFRS Financial Measure In evaluating the Group’s business, the Group considers and uses a non-IFRS measure, restaurant level operating profit margin, which is calculated by dividing (i) restaurant level operating profit by (ii) restaurant level revenue, as supplemental measures to review and assess its operating performance. The presentation of these non-IFRS financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with IFRS Accounting Standards. Restaurant level operating profit margin is a supplemental measure of operating performance of the Group’s restaurants and its calculations thereof may not be comparable to similar measures reported by other companies. Restaurant level operating profit margin has limitations as an analytical tool and should not be considered as a substitute for analysis of the Group’s results as reported under IFRS Accounting Standards. Restaurant level revenue refers to the total revenue generated from the Group’s two major service lines – Haidilao restaurant operations and delivery business. Restaurant level operating profit is calculated by deducting from restaurant level revenue certain restaurant level costs and expenses, including (i) restaurant level expenses, including cost of restaurant level raw materials and consumables used, restaurant level staff costs, restaurant level property rentals and related expenses, restaurant level utilities expenses, restaurant level depreciation and amortization, restaurant level traveling and communication expenses and other restaurant level expenses, including preopening expenses in each region; and (ii) management fees incurred in each region. The cost of restaurant level raw materials and consumables used included the cost of food ingredients and consumables associated with central kitchens that are used within the Group’s Haidilao restaurants as well as those procured directly from suppliers. The Group believes that restaurant level operating profit margin is an important measure to evaluate the performance and profitability of each of the Group’s restaurants, individually and in the aggregate. The Group uses restaurant level operating profit margin information to benchmark the Group’s performance versus competitors. The table set forth below reconciles total revenue to restaurant level revenue:  For the Year ended December 31, 20242023 USD’000USD’000Total revenue778,308686,362Less: Revenue (Others)(19,719)(15,393)Restaurant level revenue758,589670,969  The computation of restaurant level operating margin is as follows:  For the Year ended December 31, 20242023 USD’000USD’000Restaurant level revenue758,589670,969Less: Restaurant level costs and expenses(682,075)(610,695)Restaurant level operating profit76,51460,274Restaurant level operating margin*10.1%9.0%    *   Restaurant level operating margin is calculated by dividing (i) restaurant level operating profit by (ii) restaurant level revenue. The table set forth below reconciles income from operation, the most directly comparable IFRS measure to the restaurant level operating profit.  For the Year ended December 31, 20242023 USD’000USD’000Income from operation(1)53,31143,121Less:  Revenue (Others)(19,719)(15,393)Other income(2)(2,449)(4,849)Add non-restaurant level cost and expenses(3):  Raw materials and consumables used(4)10,3438,021Staff costs10,99210,349Rentals and related expenses989730Utilities expenses1,7831,431Depreciation and amortization6,3537,864Traveling and communication expenses995768Listing expenses2,4601,745Other expenses10,13611,100Other gains (losses) – net(5)1,320(4,613)Restaurant level operating profit76,51460,274Restaurant level operating margin10.1%9.0%  Notes:(1) Income from operation is calculated by profit for the year excluding interest income (included within other 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 FVTPL and income tax expense. (2) Other income primarily consists of the subsidies received from the local governments for the Group’s business development but does not include non-operating interest income. (3) Non-restaurant level cost and expenses mainly relate to costs associated with Revenue (Others), operational costs and expenses associated with central kitchens, and corporate and unallocated costs. (4) Raw materials and consumables used in non-restaurant level operations mainly relate to cost of food ingredients purchased by central kitchens that are not used for Haidilao restaurants, but which are used for sales of hot pot condiment products and food under Haidilao brand and secondary brands to local guests and retailers. (5) Other gains (losses) – net primarily consist of net impairment (loss) reversal recognized in respect of property, plant and equipment and right-of-use assets, but do not include unrealized foreign exchange differences arising from remeasurement of balances which are not denominated in functional currency and net gain arising on financial assets at FVTPL. Operational HighlightsHaidilao Restaurant PerformanceThe following table summarizes key performance indicators of Haidilao’s restaurants for the periods indicated.  As of December 31, 2024 2023Number of restaurants   Southeast Asia73 70East Asia19 17North America20 18Others(1)10 10Total122 115      For the Three Months EndedDecember 31,For the Year Ended December 31, 2024 2023 2024 2023        Total guest visits (million)       Southeast Asia5.4 5.0 20.7 18.8East Asia0.9 0.8 3.3 2.9North America1.1 0.9 3.7 3.0Others(1)0.6 0.6 2.2 2.0Overall8.0 7.3 29.9 26.7        Table turnover rate(2) (times per day)       Southeast Asia3.7 3.8 3.7 3.5East Asia4.8 4.1 4.4 3.6North America4.2 4.3 4.1 3.7Others(1)4.2 4.1 3.9 3.8Overall 3.9   3.9   3.8   3.5 Average spending per guest(3) (US$)       Southeast Asia19.5 19.1 19.6 19.5East Asia28.4 28.2 28.3 27.8North America41.0 43.6 42.3 45.3Others(1)39.3 40.9 41.6 40.2Overall25.0 24.7 25.0 24.8 Average daily revenue per restaurant(4) (US$ in thousands)       Southeast Asia16.0 15.6 15.7 15.0East Asia19.2 15.3 17.1 12.9North America24.3 23.1 22.0 20.4Others(1)26.1 25.5 24.9 23.6Overall18.7 17.7 17.7 16.3         Notes:(1) Others include Australia, the United Kingdom, and the United Arab Emirates. (2) Calculated by dividing total number of tables served for the years/periods by the product of total Haidilao restaurant operation days for the year/period and average table count during the year/period in the same geographic region. (3) Calculated by dividing gross revenue of Haidilao restaurant operation for the years/periods by total guests served for the years/periods in the same geographic region. (4) Calculated by dividing the revenue of Haidilao restaurant operation for the years/periods by the total Haidilao restaurant operation days of the periods in the same geographic region. Same-Store SalesThe following table sets forth details of the Company’s same store sales for the periods indicated.  As of/For the Three Months Ended December 31,As of/For the Year Ended December 31, 2024 2023 2024 2023Number of Same Stores(1)       Southeast Asia6360East Asia1413North America1818Others(5)107Total10598        Same Store Sales(2) (US$ in thousands)       Southeast Asia95,717 94,391 360,213 348,237East Asia24,636 20,908 79,970 65,545North America40,619 38,638 147,834 135,311Others(5)24,029 23,559 65,974 61,599Total185,001  177,496  653,991  610,692         Average same store sales per day(3) (US$ in thousands)       Southeast Asia16.5 16.3 16.4 16.0East Asia19.1 16.2 16.8 13.9North America24.5 23.3 22.4 20.6Others(5)26.2 25.7 26.1 24.4Total19.2  18.4  18.3  17.1         Average same store table turnover rate(4) (times/day)       Southeast Asia3.8 3.9 3.8 3.6East Asia4.8 4.3 4.3 3.6North America4.2 4.3 4.1 3.7Others(5)4.2 4.1 3.9 3.7Total4.0  4.0  3.9  3.6          Notes: (1) Includes restaurants that commenced operations prior to the beginning of the years/periods under comparison and opened for more than 75 days in the fourth quarter and opened for more than 300 days in the full year of 2023 and 2024, respectively. (2) Refers to the aggregate gross revenue from Haidilao restaurant operation at the Company’s same stores for the years/periods indicated. (3) Calculated by dividing the gross revenue from Haidilao restaurant operation for the years/periods by the total Haidilao restaurant operation days at the Company’s same stores for the years/periods. (4) Calculated by dividing the total tables served for the years/periods by the product of total Haidilao restaurant operation days for the period and average table count at the Company’s same stores during the years/periods. (5) Others include Australia, the United Kingdom, and the United Arab Emirates. About Super HiSuper 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 30 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 December 31, 2024, Super Hi had 122 self-operated Haidilao restaurants in 14 countries across four continents, making it the largest Chinese cuisine restaurant brand in the international market in terms of number of countries covered by self-operated restaurants. Forward-Looking StatementsThis 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. ContactsInvestor RelationsEmail: superhi_ir@superhi-inc.comPhone: +1 (212) 574-7992 Public Relations Email: media.hq@superhi-inc.com UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME  For the three months ended December 31,For the years ended December 31, 2024202320242023 USD’000USD’000USD’000USD’000          Revenue208,762 189,179 778,308 686,362 Other income2,167 851 7,523 6,695 Raw materials and consumables used(67,684)(65,774)(257,723)(234,715)Staff costs(67,171)(61,262)(259,293)(226,033)Rentals and related expenses(5,661)(5,547)(20,136)(17,161)Utilities expenses(7,131)(6,716)(28,358)(26,054)Depreciation and amortization(21,572)(18,994)(80,972)(78,557)Travelling and communication expenses(1,723)(1,897)(6,449)(5,756)Listing expenses- (1,745)(2,460)(1,745)Other expenses(20,488)(18,108)(70,735)(62,682)Other gains and losses - net(25,656)17,714 (17,924)1,177 Finance costs(2,448)(2,268)(8,538)(8,424)(Loss) Profit before tax (8,605) 25,433   33,243  33,107  Income tax expense(3,003)(2,164)(11,844)(7,850)(Loss) Profit for the period/year (11,608) 23,269 21,399 25,257      Other comprehensive income (expense)    Item that may be reclassified subsequently to profit or loss:    Exchange differences arising on translation of foreign operations12,362 (9,961)12,028 4,627 Total comprehensive income for the period/year754 13,308 33,427 29,884      (Loss) Profit for the period/year attributable to:    Owners of the Company(11,340)23,506 21,801 25,653 Non-controlling interests(268)(237)(402)(396) (11,608)23,269 21,399 25,257      Total comprehensive income attributable to:    Owners of the Company1,022 13,545 33,829 30,280 Non-controlling interests(268)(237)(402)(396) 754 13,308 33,427 29,884      (Loss) Earnings per share    Basic and diluted (USD)(0.02)0.04 0.04 0.05          UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION  As at December 31,As at December 31, 20242023 USD’000USD’000   Non-current Assets  Property, plant and equipment151,901168,724Right-of-use assets185,514167,641Intangible assets278402Deferred tax assets3,7991,995Other receivables1,9611,961Prepayment373295Rental and other deposits17,37216,903 361,198357,921   Current Assets  Inventories31,52129,762Trade and other receivables and prepayments30,75429,324Rental and other deposits3,3783,882Pledged bank deposits2,8553,086Bank balances and cash254,719152,908 323,227218,962   Current Liabilities  Trade payables30,71134,375Other payables38,10034,887Amounts due to related parties1,329842Tax payable5,4119,556Lease liabilities41,40738,998Contract liabilities9,6698,306Provisions1,9411,607  128,568 128,571   Net Current Assets 194,65990,391    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION  As at December 31,As at December 31, 20242023 USD’000USD’000   Non-current Liabilities  Deferred tax liabilities7,504 1,347 Lease liabilities171,219 163,947 Contract liabilities2,980 3,098 Provisions12,493 7,799  194,196  176,191    Net Assets361,661 272,121       Capital and Reserves  Share capital3 3 Shares held under share award scheme* * Share premium550,593 494,480 Reserves(190,568)(224,397)Equity attributable to owners of the Company360,028 270,086 Non-controlling interests1,633 2,035 Total Equity 361,661 272,121        *     Less than USD1,000 UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS  For the three months ended December 31,For the years ended December 31,  2024202320242023 USD’000USD’000USD’000USD’000    Net cash from operating activities30,995 30,391 119,696 114,045 Net cash from (used in) investing activities23,347 57,277 (27,616)(11,775)Net cash (used in) from financing activities(8,813)(10,823)12,577 (43,787)Net increase in cash and cash equivalents45,529 76,845 104,657 58,483 Cash and cash equivalents at beginning of the period/year215,162 75,271 152,908 93,878 Effect of foreign exchange rate changes(5,972)792 (2,846)547 Cash and cash equivalents at end of the period/year254,719 152,908 254,719 152,908   ______________________1 Calculated by dividing the total tables served for the year/period by the product of total Haidilao restaurant operation days for the year/period and average table count during the year/period.2 Calculated by dividing the total tables served for the years/periods by the product of total Haidilao restaurant operation days for the year/period and average table count at the Company’s same stores during the years/periods.3 Refers to the year-over-year growth of the aggregate gross revenue from Haidilao restaurant operations at the Company’s same stores for the year/period indicated.4 Calculated by dividing income from operation5 by total revenue.5 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 year/period.

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