The significant increase in net profit was largely driven by favorable foreign exchange gains rather than core operating performance, as the restaurant-level operating margin declined. Traders should monitor whether the company can improve its restaurant-level profitability to sustain growth, especially as expansion into new markets may pressure margins further.
Price Chart
Executive Summary
Super Hi International Holding Ltd. reported strong revenue growth of 8.0% to $840.8 million in 2025, driven by increased guest visits and table turnover, but saw a decline in restaurant-level operating margin to 8.7% from 10.1% in 2024. Net profit surged 69.6% to $36.3 million, significantly boosted by favorable foreign exchange gains. The company expanded its network to 126 restaurants across 14 countries and enhanced its secondary brand offerings, which saw a 61.4% revenue increase.
Key Facts
- Revenue increased 8.0% to $840.8 million in 2025 from $778.3 million in 2024
- Net profit for the year attributable to owners was $36.4 million, up 66.8% from $21.8 million in 2024
- Restaurant-level operating margin decreased to 8.7% in 2025 from 10.1% in 2024
- Average spending per guest decreased to $24.6 from $25.0 in 2024
- Revenue from secondary branded restaurants and other activities increased 61.4% to $31.8 million
- The company operated 126 Haidilao restaurants as of December 31, 2025, up from 122 in 2024
Financial Impact
Revenue increased by $62.5 million, but restaurant-level operating margin decreased by 1.4 percentage points
Risk Factors
- Declining restaurant-level operating margin despite revenue growth
- Dependence on foreign exchange gains to boost net profit
- Potential for increased competition in new markets
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 11 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 20-F Filing (Primary) | 0001104659-26-042370 |
| Document: hdl-20251231xex11d2.htm | 0001104659-26-042370 |
| Document: hdl-20251231xex12d1.htm | 0001104659-26-042370 |
| Document: hdl-20251231xex15d1.htm | 0001104659-26-042370 |
| Document: hdl-20251231xex12d2.htm | 0001104659-26-042370 |
| Document: hdl-20251231xex13d1.htm | 0001104659-26-042370 |
| Document: hdl-20251231xex13d2.htm | 0001104659-26-042370 |
| Document: hdl-20251231xex8d1.htm | 0001104659-26-042370 |
| Document: 0001104659-26-042370-index-headers.html | 0001104659-26-042370 |
| Document: 0001104659-26-042370-index.html | 0001104659-26-042370 |
| Document: 0001104659-26-042370.txt | 0001104659-26-042370 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 1, 2026 21w ago | 6-K | $1.90 $1.90 | · 0.00% | ▲ +1.30% | $1.38 (−27.63%) |
May 22, 2026 22w ago | 6-K | $1.90 $1.90 | · 0.00% | ▲ +1.42% | $1.38 (−27.63%) |
May 20, 2026 22w ago | 6-K | $1.90 $1.90 | · 0.00% | ▼ −0.74% | $1.38 (−27.63%) |
May 8, 2026 24w ago | 6-K | $1.90 $1.90 | · 0.00% | ▼ −0.02% | $1.38 (−27.63%) |
Apr 27, 2026 26w ago | 6-K | $1.90 $1.90 | · 0.00% | ▼ −4.96% | $1.38 (−27.63%) |
Apr 15, 2026 27w ago | 6-K | $1.90 $1.90 | · 0.00% | ▼ −6.04% | $1.38 (−27.63%) |
Apr 15, 2026 27w ago | 6-K | $1.90 $1.90 | · 0.00% | ▼ −6.04% | $1.38 (−27.63%) |
Apr 13, 2026 28w ago | 6-K | $1.90 $1.90 | · 0.00% | ▼ −7.73% | $1.38 (−27.63%) |
Apr 13, 2026 28w ago | 20-F | $1.90 $1.90 | · 0.00% | ▼ −7.73% | $1.38 (−27.63%) |
US Market Status
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