Super Hi International Holding (9658) Q4 2025 earnings summary

Executive summary

• Q4 2025 revenue grew 10.2% year-over-year to $230 million, with full-year revenue at $841 million, up 8.0%; guest visits increased 3.8% in Q4 and 7.0% for the year, and the restaurant network expanded to 126 locations across 14 countries.

• Net profit for 2025 was $36.3 million, up 69.6% year-over-year, supported by a $33.8 million net foreign exchange gain.

• Focused on employee and customer benefits, driving improvements in store management, service experience, and product innovation.

• Overseas member base surpassed 8.5 million, with 13 new stores opened and 9 closed in 2025.

• Continued to incubate and expand second brand concepts under the Pomegranate Plan, with some achieving single-store profitability.

Financial highlights

• Q4 operating profit was $13.0 million (margin 5.7%); full-year operating profit was $37.4 million (margin 4.4%).

• Haidilao restaurant revenue was $790 million (94% of total), up 5.7% year-over-year; delivery revenue surged 94.3% in Q4 and 68.1% for the year; other business revenue rose 109.3% in Q4 and 61.4% for the year.

• Q4 net profit was $4.5 million, reversing a $11.6 million loss in Q4 2024.

• Capital reserve/cash and cash equivalents at year-end was $271.99 million, up from $250 million.

• Basic and diluted EPS were $0.01 for Q4 and $0.06 for the year.

Outlook and guidance

• Store expansion will remain prudent and bottom-up, with East Asia prioritized and other regions monitored for geopolitical risks.

• Investment strategy in 2026 will shift from increasing to optimizing, focusing on efficiency and maintaining employee and customer benefits.

• Raw material cost ratio expected to remain stable in 2026, supported by supply chain improvements and menu optimization.

• No specific profit margin targets set; focus remains on long-term growth and customer/employee investment.

• Continued focus on digital transformation, localized product innovation, and empowering front-line teams.