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HDL

SUPER HI INTERNATIONAL HOLDING Ltd. American Depositary Shares

HDL

SUPER HI INTERNATIONAL HOLDING Ltd. American Depositary Shares • NASDAQ
$18.30 ▲ 2.12% (+0.38)
Market Cap $1.08 B
52w High $30.00
52w Low $16.30
Dividend Yield 0%
P/E 18.3
Volume 1.08K
Outstanding Shares 58.84M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $200.578M ▲ $36.753M ▼ $16.548M ▲ 8.25% ▲ $0.25 ▲ $42.444M ▲
Q1-2025 $197.783M ▼ $53.571M ▼ $11.938M ▲ 6.036% ▲ $0.021 ▲ $37.786M ▲
Q4-2024 $208.762M ▲ $55.823M ▲ $-11.34M ▼ -5.432% ▼ $-0.02 ▼ $15.298M ▼
Q3-2024 $198.616M ▲ $51.871M ▲ $37.724M ▲ 18.993% ▲ $0.06 ▲ $63.762M ▲
Q2-2024 $182.816M $30.935M $-125.678K -0.069% $-0 $22.543M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $261.462M ▲ $702.443M ▲ $327.534M ▲ $373.357M ▲
Q1-2025 $253.246M ▼ $684.655M ▲ $316.868M ▼ $366.212M ▲
Q4-2024 $254.719M ▲ $684.425M ▲ $322.764M ▲ $360.028M ▲
Q3-2024 $243.996M ▲ $666.434M ▲ $305.527M ▲ $359.006M ▲
Q2-2024 $220.783M $624.116M $287.28M $334.868M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $16.414M ▲ $0 ▼ $0 ▲ $0 ▲ $-204.933M ▼ $0 ▼
Q1-2025 $11.938M ▲ $19.694M ▼ $-55.605M ▼ $-14.828M ▼ $-49.786M ▼ $19.694M ▲
Q4-2024 $0 $30.995M ▼ $23.347M ▼ $-8.813M ▲ $39.557M ▼ $12.822M ▼
Q3-2024 $0 ▲ $40.699M ▲ $41.311M ▲ $-11.44M ▼ $74.503M ▲ $40.699M ▲
Q2-2024 $-125.678K $23.928M $-18.678M $45.246M $50.684M $23.928M

Five-Year Company Overview

Income Statement

Income Statement SUPER HI’s sales have grown strongly over the past five years, showing that demand for its international Haidilao restaurants has been rising steadily from a small base. Profitability, however, has been more of a recovery story than a straight line up. The business moved from losses in the early 2020s to modest profits more recently, with healthier restaurant-level performance. That said, profit margins remain thin and a bit volatile: operating profit jumped in one year and then eased back the next, even as sales kept growing. This suggests that expansion costs, inflation in wages and ingredients, and possibly promotional spending are still weighing on the bottom line. Overall, it looks like a company that has largely fixed its loss-making phase but has not yet reached consistently strong profitability.

Balance Sheet

Balance Sheet The balance sheet has improved meaningfully. The company has built up its cash cushion over time, giving it more flexibility to invest and to handle shocks. Debt, which was quite heavy a few years ago, has been brought down to a more manageable level. Equity has moved from negative to clearly positive, reflecting a repair of past losses and some rebuilding of financial strength. In simple terms, SUPER HI has shifted from a more stressed financial position to one that is reasonably solid, though its capital base is not yet what you’d expect from a highly mature, fully de-risked restaurant group.

Cash Flow

Cash Flow Cash generation has become a real bright spot. The business has moved from roughly break-even operating cash flow to producing steady, positive cash from its day-to-day operations. At the same time, investment spending on new restaurants and equipment remains meaningful but is now well covered by internal cash. Free cash flow has turned from negative to comfortably positive, indicating that growth is increasingly funded from the company’s own earnings rather than relying heavily on borrowing. The caveat is that cash flow margins, like profit margins, still look modest – so resilience depends on maintaining volumes and efficiency.

Competitive Edge

Competitive Edge SUPER HI competes in a tough industry, but it has some clear advantages. The Haidilao brand is well known among hot pot and Chinese cuisine fans, and its reputation for over-the-top, attentive service sets it apart from many casual dining peers. The company has standardized its operations enough to replicate that experience across multiple countries, which is not easy in the restaurant world. Its international footprint, while still relatively small compared with global giants, is growing and gives it exposure to a variety of markets rather than relying on just one region. On the risk side, the restaurant sector is highly competitive and discretionary: local competitors can copy menu ideas, and customer traffic can swing sharply with economic conditions or changes in taste. Maintaining consistent service levels and brand magic as the chain grows internationally will be one of the key tests of its competitive strength.

Innovation and R&D

Innovation and R&D Innovation is one of SUPER HI’s core levers. The company is experimenting with smart restaurants that use robotics to handle food delivery and back-of-house tasks, aiming to improve efficiency, consistency, and food safety. It has also invested in distinctive technology such as its specialized exhaust systems and immersive sound-and-light experiences, which enhance comfort and differentiate the atmosphere. On the product side, it offers a broad, customizable hot pot menu and adapts soup bases and dishes to local tastes in different countries, showing a willingness to localize rather than simply export a single formula. Beyond the core hot pot format, initiatives like the “Pomegranate Plan” seek to incubate new concepts (including fast formats and halal offerings) and to expand into delivery and retail condiments. The opportunity is substantial if these experiments scale well, but they add execution risk and require continued investment and management focus.

Summary

SUPER HI today looks like an international growth restaurant group that has moved past its most difficult financial years and is transitioning into a more stable, cash-generative phase, albeit with fairly slim margins. Revenue momentum is strong and broad-based, but profits are still sensitive to cost pressures and expansion decisions. The balance sheet and cash flows have both strengthened, reducing financial risk and giving more room to invest. Strategically, the company leans on a powerful service-led brand, distinctive dining experiences, and visible use of technology to stand out in a crowded sector. At the same time, it operates in a cyclical, competitive industry where international expansion, concept innovation, and consistent execution are all critical and uncertain. The key things to watch are whether SUPER HI can widen its margins as it scales, preserve its service culture across markets, and turn its many innovation projects into durable, profitable growth rather than just interesting experiments.

NEWS

November 26, 2025 · 5:00 AM UTC

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

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November 14, 2025 · 4:30 AM UTC

Super Hi to Report Third Quarter 2025 Financial Results on Wednesday, November 26, 2025

Read more