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Super Hi Reports Unaudited Financial Results for the Second Quarter of 2025

1. HDL revenue increased by 8.5% year-over-year to $198.9 million. 2. Operating income declined 56.5% to $3.7 million, margin fell to 1.9%. 3. Opened 4 new restaurants while closing 1 underperforming location. 4. Guest visits rose by 6.9%, reaching 7.7 million in Q2 2025. 5. Delivery revenue surged 60.9%, reflecting enhanced services and marketing efforts.

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Why Neutral?

Despite revenue growth, the significant drop in operating income raises concerns. Historical precedence shows stock fluctuations often result from operational inefficiencies.

How important is it?

Investors tend to react to earnings announcements, especially with varying income trends. The operational drop suggests potential volatility in the short term.

Why Short Term?

The immediate financial outcomes are likely to influence investor sentiment. Near-term decisions may pivot based on operational results while long-term growth strategies could stabilize stocks.

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SINGAPORE, Aug. 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 second quarter ended June 30, 2025. Second Quarter 2025 Highlights Revenue was US$198.9 million, representing an increase of 8.5% from US$183.3 million in the same period of 2024.In the second quarter of 2025, the Company further optimized its restaurant network by opening 4 new Haidilao restaurants and closed 1 underperforming restaurant. Total number of Haidilao restaurants expanded from 123 as of March 31, 2025 to 126 as of June 30, 2025.The average table turnover rate1 was 3.8 times per day, and the average same-store table turnover rate2 was 3.9 times per day, both remaining stable compared to the same period of 2024.Had over 7.7 million total guest visits, representing an increase of 6.9% from 7.2 million in the same period of 2024.Same-store sales3 were US$170.2 million, representing an increase of 5.3% from US$161.7 million in the same period of 2024.Income from operation4 was US$3.7 million, representing a decrease of 56.5% from US$8.5 million in the same period of 2024.Income from operation margin5 was 1.9%, compared to 4.6% in the same period of 2024, representing a decline of 2.7 percentage points year-over-year. Ms. Yang Lijuan, CEO & Executive Director of Super Hi, commented, "In the second quarter of 2025, Haidilao restaurants maintained stable the average table turnover rates1 compared to the same period last year, while same-store sales3 increased by 5.3%. The company’s total revenue grew 8.5% year-over-year; however, income from operation4 declined 56.5% compared to the same period last year, with income from operation margin5 decreasing by 2.7 percentage points year-over-year. During the quarter, we continued to execute our strategy of sharing benefits with both customers and employees, enhancing value proposition for customers while strengthening employee satisfaction and team cohesion. The decline in income from operation4 aligns with our expectations under the benefit-sharing strategy, though it also indicated room for improvement in management precision during the dynamic operational adjustment process. We remain committed to advancing management excellence, with particular emphasis on the implementation of our "Pomegranate Plan". We will continue to dynamically deploy our "Woodpecker Plan" targeting underperforming restaurants. Additionally, we will actively embrace technological innovation and applications to enhance organizational efficiency and address current market challenges." Second Quarter 2025 Financial Results Revenue was US$198.9 million, representing an increase of 8.5% from US$183.3 million in the same period of 2024. Revenue from Haidilao restaurant operations was US$189.1 million, representing an increase of 7.3% from US$176.2 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$3.7 million, representing an increase of 60.9% from US$2.3 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$6.1 million, representing an increase of 27.1% from US$4.8 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$67.6 million, representing an increase of 9.6% from US$61.7 million in the same period of 2024, primarily driven by the increase in food ingredient costs resulting from business scale enlargement and revenue growth. In the second quarter of 2025, raw materials and consumables used as a percentage of revenue increased to 34.0% from 33.7% in the same period of 2024. Staff costs were US$70.3 million, representing an increase of 12.1% from US$62.7 million in the same period of 2024. 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 2024; and (ii) the Company’s increased investment in employee benefits and development to enhance staff loyalty and job satisfaction, as well as the increase in statutory minimum wages in certain countries where we operate. As a percentage of revenue, staff costs increased to 35.3% in the second quarter of 2025 from 34.2% in the same period of 2024. Income from operation4 was US$3.7 million, representing a decrease of 56.5% from US$8.5 million in the same period of 2024. Income from operation margin5 was 1.9%, compared to 4.6% in the same period of 2024. This decrease in income from operation margin was mainly attributable to (i) the investment in customer and employee benefit initiatives mentioned above, which partially offset the increase in revenue; (ii) increased outsourcing service fees and business development fees resulting from the restaurant network expansion; and (iii) decreased government grants received compared to the same period of 2024. Profit for the period was US$16.4 million, compared to a loss of US$0.1 million in the same period of 2024. This change was mainly due to a decrease in net foreign exchange loss of US$22.8 million in the second 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$0.03, compared to a basic and diluted net loss per share of approximating nil in the same period of 2024. __________________________ 1 Calculated by dividing the total tables served for the period by the product of total Haidilao restaurant operation days for the period and average table count during the period.2 Calculated by dividing the total tables served for the period by the product of total Haidilao restaurant operation days for the period and average table count at the Company’s same stores during the period.3 Refers to the gross revenue of Haidilao restaurant operation at the same stores for the periods indicated.4 Calculated by excluding interest income, finance costs, unrealized foreign exchange differences arising from remeasurement of balances which are not denominated in functional currency, net gain arising on financial assets at fair value through profit or loss and income tax expense from profit (loss) for the period.5 Calculated by dividing income from operation4 by total revenue. Operational HighlightsHaidilao Restaurant PerformanceThe following table summarizes key performance indicators of Haidilao’s restaurants for the quarters indicated.  As of/For the Three Months Ended June 30, 2025 2024Number of restaurants   Southeast Asia74 74East Asia20 18North America20 20Others(1)12 10Total126 122    Total guest visits (million)   Southeast Asia5.1 5.1East Asia1.0 0.7North America1.0 0.9Others(1)0.6 0.5Overall7.7 7.2    Table turnover rate(2) (times per day)   Southeast Asia3.6 3.7East Asia4.8 4.1North America4.0 4.0Others(1)3.9 3.9Overall3.8 3.8    Average spending per guest(3) (US$)   Southeast Asia18.6 19.1East Asia29.4 27.3North America39.1 41.9Others(1)39.7 42.4Overall24.3 24.4 Average daily revenue per restaurant(4) (US$ in thousands)   Southeast Asia14.9 15.1East Asia19.8 15.2North America21.9 20.7Others(1)24.0 24.7Overall17.6 16.9     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 SalesThe following table sets forth details of the Company’s same-store sales for the quarters indicated.  As of/For the Three Months Ended June 30, 2025 2024Number of Same Stores(1)   Southeast Asia63East Asia14North America18Others(5)9Total104    Same Store Sales(2) (US$ in thousands)   Southeast Asia87,359 87,935East Asia25,149 19,547North America35,898 33,511Others(5)21,829 20,746Total170,235 161,739Average same store sales per day(3) (US$ in thousands)   Southeast Asia15.2 15.3East Asia19.7 15.3North America21.9 20.5Others(5)26.7 25.6Total18.0 17.1    Average same store table turnover rate(4) (times/day)   Southeast Asia3.6 3.8East Asia4.8 4.1North America4.0 4.0Others(5)4.2 4.0Total3.9 3.9     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 second 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 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 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 June 30, 2025, Super Hi had 126 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 INTERIM CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME  For the three months ended June 30， 2025 2024  USD’000USD’000   Revenue198,950 183,283 Other income2,050 2,375 Raw materials and consumables used(67,577)(61,734)Staff costs(70,328)(62,692)Rentals and related expenses(6,022)(4,699)Utilities expenses(7,177)(6,858)Depreciation and amortization(19,790)(18,544)Travelling and communication expenses(2,052)(1,731)Listing expenses- (1,832)Other expenses(21,204)(17,726)Other gains (losses) - net15,460 (5,785)Finance costs(2,772)(1,937)Profit before tax 19,538 2,120 Income tax expense(3,147)(2,224)Profit (Loss) for the period16,391 (104)   Other comprehensive income   Item that may be reclassified subsequently to profit or loss:  Exchange differences arising on translation of foreign operations(9,271)7,143 Total comprehensive income for the period7,120 7,039    Profit (Loss) for the period attributable to:  Owners of the Company16,414 (126)Non-controlling interests(23)22  16,391 (104)   Total comprehensive income attributable to:  Owners of the Company7,143 7,017 Non-controlling interests(23)22  7,120 7,039    Earnings (Loss) per share  Basic and diluted (USD)0.03 (0.00)       UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION  As at June 30,As at December 31, 20252024 USD’000USD’000Non-current Assets  Property, plant and equipment158,011151,901Right-of-use assets190,826185,514Intangible assets272278Deferred tax assets4,3883,799Other receivables1,9611,961Prepayment175373Rental and other deposits19,29517,372 374,928361,198   Current Assets  Inventories35,14331,521Trade and other receivables and prepayments26,62930,754Rental and other deposits4,2793,378Pledged bank deposits2,9892,855Bank balances and cash258,471254,719 327,511323,227   Current Liabilities  Trade payables32,26930,711Other payables39,26138,100Amounts due to related parties1,0841,329Tax payables2,5125,411Lease liabilities40,97241,407Contract liabilities10,7989,669Provisions2,5991,941 129,495128,568   Net Current Assets 198,016194,659       UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION  As at June 30,As at December 31, 20252024 USD’000USD’000Non-current Liabilities   Deferred tax liabilities8,395 7,504  Lease liabilities174,265 171,219  Contract liabilities2,421 2,980  Provisions12,956 12,493   198,037 194,196      Net Assets374,907 361,661          Capital and Reserves   Share capital3 3  Shares held under share award scheme* *  Share premium550,593 550,593  Reserves(177,241)(190,568) Equity attributable to owners of the Company373,355 360,028  Non-controlling interests1,552 1,633  Total Equity 374,907 361,661       * Less than USD 1,000        UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS  For the three months ended June 30, 20252024  USD’000USD’000   Net cash from operating activities26,599 23,984 Net cash from (used in) investing activities37,513 (18,726)Net cash (used in) from financing activities(11,707)45,348 Net increase in cash and cash equivalents52,405 50,606 Cash and cash equivalents at beginning of the period204,933 90,031 Effect of foreign exchange rate changes1,133 22 Cash and cash equivalents at end of the period258,471 140,659 

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