SINGAPORE, May 20, 2026 (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 first quarter ended March 31, 2026.
First Quarter 2026 Highlights
-- Revenue was US$225.9 million, representing an increase of 14.2% from
US$197.8 million in the same period of 2025.
-- In the first quarter of 2026, the Company opened 1 new Haidilao
restaurant in Southeast Asia. The total number of Haidilao restaurants
expanded from 126 as of December 31, 2025 to 127 as of March 31, 2026.
-- Overall average table turnover rate1 was 4.0 times per day, compared to
3.9 times per day in the same period of 2025. Overall average same-store
table turnover rate2 was 4.0 times per day, consistent with the same
period of 2025.
-- The Company had over 8.1 million total guest visits, representing an
increase of 3.8% from 7.8 million in the same period of 2025.
-- Same-store sales3 were US$183.5 million, representing an increase of 4.0%
from US$176.4 million in the same period of 2025.
-- Income from operation4 was US$14.0 million, representing an increase of
70.7% from US$8.2 million in the same period of 2025.
-- Income from operation margin5 was 6.2%, compared to 4.1% in the same
period of 2025, representing an increase of 2.1 percentage points year
over year.
Mr. Li Yu, CEO & Executive Director of Super Hi, commented, "In the first quarter of 2026, the Company's total revenue increased by 14.2% year over year to US$225.9 million. Our income from operation margin(5) rebounded to 6.2% this quarter, representing an increase of 2.1 percentage points from the same period last year. Our 'Dual Focus on Employees and Customers' has continued to drive improvements in Haidilao restaurants operational performance. With steady growth in guest visits, Haidilao restaurants achieved an overall average table turnover rate(1) of 4.0 times per day this quarter. Revenue from Haidilao restaurants increased by 8.4% and same-store sales(3) grew by 4.0% year over year. During the quarter, the Company continued to expand its revenue streams, with our delivery business and other business growing by a combined 130.9% compared to the same period last year."
"Looking ahead, we remain committed to our long-term strategy of 'Dual Focus on Employees and Customers'. We will continue to enhance customer experience while fostering a family-style culture to reinforce the competitive advantages of Haidilao restaurants and deliver sustainable long-term growth for the Company."
(_____________________1) Calculated by dividing the total tables served for the period by the product of total Haidilao restaurant operations 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 operations days for the period and average table count at the Company's same-stores during the period.
(3) Refers to the aggregate gross revenue of Haidilao restaurant operations at the same-stores for the period 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 operation(4) by total revenue.
First Quarter 2026 Financial Results
Revenue was US$225.9 million, representing an increase of 14.2% from US$197.8 million in the same period of 2025.
-- Revenue from Haidilao restaurant operations was US$204.2 million,
representing an increase of 8.4% from US$188.4 million in the same period
of 2025. The increase was primarily attributable to (i) significantly
improved operational performance at existing Haidilao restaurants driven
by our ongoing operational optimization initiatives, with higher overall
average table turnover rate1 and increased customer traffic, further
strengthening brand influence; and (ii) continued expansion of the
restaurant network, resulting in a year-over-year increase in the total
number of restaurants.
-- Revenue from delivery business was US$7.3 million, representing an
increase of 82.5% from US$4.0 million in the same period of 2025,
primarily due to (i) the continuous optimization of delivery products and
services based on market demand; and (ii) strengthened strategic
marketing collaborations with local food delivery platforms.
-- Revenue from other business was US$14.4 million, representing an increase
of 166.7% from US$5.4 million in the same period of 2025. The increase
was mainly driven by (i) the increasing popularity of hot pot condiment
products, 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 diversification into
multiple business concepts.
Raw materials and consumables used were US$76.6 million, representing an increase of 14.0% from US$67.2 million in the same period of 2025, primarily driven by (i) business expansion, in line with the Company's revenue growth; and (ii) increased sales of hot pot condiment products, Haidilao-branded and sub-branded food products, and the expansion of the secondary branded restaurants. In the first quarter of 2026, raw materials and consumables used as a percentage of revenue decreased to 33.9% from 34.0% in the same period of 2025.
Staff costs were US$76.7 million, representing an increase of 9.9% from US$69.8 million in the same period of 2025. The increase was primarily attributable to (i) increased number of employees to support the continued expansion of our restaurant network and to ensure superior customer experience across catering services, product quality, restaurant environment, and food safety; and (ii) increased piece-rate wages and total working hours driven by increased guest visits and improved overall average table turnover rate(1) . As a percentage of revenue, staff costs decreased to 34.0% in the first quarter of 2026 from 35.3% in the same period of 2025.
Income from operation(4) was US$14.0 million, representing an increase of 70.7% from US$8.2 million in the same period of 2025. Income from operation margin(5) was 6.2%, compared to 4.1% in the same period of 2025. This increase in income from operation margin(5) was mainly attributable to (i) the positive operating leverage effect driven by increased revenue and higher overall average table turnover rate(1) as described above; and (ii) enhanced operational efficiency through ongoing optimization of operating costs.
Profit for the period was US$4.1 million, compared to US$11.9 million in the same period of 2025. This change was mainly due to an increase in net foreign exchange loss of US$11.7 million in the first quarter of 2026 compared to the same period of 2025, which was primarily attributable to foreign exchange fluctuations, particularly the depreciation of local currencies against the U.S. dollar. The impact was partially offset by the improved operating performance as described above.
Basic and diluted net profit per share were both US$0.01, compared to US$0.02 in the same period of 2025.
Operational Highlights
Haidilao Restaurant Performance
The following table summarizes key performance indicators of Haidilao's restaurants for the quarters indicated.
As of/For the Three Months Ended March 31,
--------------------------------------------
2026 2025
--------------------- ---------------------
Number of restaurants
Southeast Asia 72 73
East Asia 21 19
North America 22 20
Others((1) 12 11
Total 127 123
Total guest visits
(million)
Southeast Asia 5.2 5.1
East Asia 1.3 1.1
North America 1.0 1.0
Others((1) 0.6 0.6
Total 8.1 7.8
Average table turnover
rate((2) (times per day)
Southeast Asia 3.8 3.7
East Asia 5.1 5.0
North America 3.6 4.0
Others((1) 3.6 4.0
Overall 4.0 3.9
Average spending per
guest((3) (US$)
Southeast Asia 19.6 18.7
East Asia 28.2 28.2
North America 41.4 39.6
Others((1) 41.3 38.2
Overall 25.3 24.2
Average daily revenue per
restaurant((4) (US$ in
thousands)
Southeast Asia 16.2 15.3
East Asia 20.6 19.3
North America 21.0 22.2
Others((1) 22.9 24.1 Overall 18.4 17.8
Notes:
(1) Others include Australia, the United Kingdom, and the United Arab Emirates.
(2) Calculated by dividing total number of tables served for the periods by the product of total Haidilao restaurant operations days for the periods and average table count during the periods in the same geographic region.
(3) Calculated by dividing gross revenue of Haidilao restaurant operations for the periods by total guests served for the periods in the same geographic region.
(4) Calculated by dividing the revenue of Haidilao restaurant operations for the periods by the total Haidilao restaurant operations days of the periods in the same geographic region.
Same-Store Sales
The following table sets forth details of the Company's same-store sales for the quarters indicated.
As of/For the Three Months Ended March 31,
--------------------------------------------
2026 2025
--------------------- ---------------------
Number of same-stores((1)
Southeast Asia 64
East Asia 16
North America 19
Others((6) () 10
Total 109
Same-store sales((2) (US$ in
thousands)
Southeast Asia 94,348 88,701
East Asia 31,190 28,242
North America 35,665 37,576
Others((6) () 22,303 21,925
Total 183,506 176,444
Average same-store sales per
day((3) (US$ in thousands)
Southeast Asia 16.5 15.5
East Asia 21.8 19.7
North America 20.9 22.0
Others((6) () 24.8 24.4
Overall 18.8 18.1
Average same-store spending
per guest((4) () (US$)
Southeast Asia 20.0 18.5
East Asia 28.3 28.1
North America 40.9 39.3
Others((6) () 42.1 38.4
Overall 25.4 24.1
Average same-store table
turnover rate((5) ()
(times/day)
Southeast Asia 3.8 3.7
East Asia 5.4 5.1
North America 3.7 4.0
Others((6) () 3.7 4.0
Overall 4.0 4.0
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 first quarter of 2025 and 2026, respectively.
(2) Refers to the aggregate gross revenue from Haidilao restaurant operations at the Company's same-stores for the periods indicated.
(3) Calculated by dividing the gross revenue from Haidilao restaurant operations for the periods by the total Haidilao restaurant operations days at the Company's same-stores for the periods.
(4) Calculated by dividing gross revenue of Haidilao restaurant operations for the periods by total guests served for the periods at the Company's same stores in the same geographic region.
(5) Calculated by dividing the total tables served for the periods by the product of total Haidilao restaurant operations days for the periods and average table count at the Company's same-stores during the periods.
(6) Others include Australia, the United Kingdom, and the United Arab Emirates.
About Super Hi
Super 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 32 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 seven consecutive years since 2019, earning the title of "World's Strongest Restaurant Brand" for 2024 (Brand Finance). As of March 31, 2026, Super Hi had 127 self-operated Haidilao restaurants in 14 countries across four continents.
Forward-Looking Statements
This 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.
Contacts
Investor Relations
Email: superhi_ir@superhi-inc.com
Phone: +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 March 31,
------------------------------------------
2026 2025
--------------------- -------------------
USD'000 USD'000
Revenue 225,927 197,783
Other income 2,708 2,733
Raw materials and consumables used (76,574) (67,167)
Staff costs (76,686) (69,832)
Rentals and related expenses (6,303) (5,561)
Utilities expenses (7,171) (6,963)
Depreciation and amortization (20,658) (19,898)
Travelling and communication
expenses (1,715) (1,624)
Other expenses (22,176) (19,525)
Other (losses) and gains - net (5,370) 7,942
Finance costs (2,990) (2,753)
---------------- ---------------
Profit before tax 8,992 15,135
Income tax expense (4,939) (3,255)
---------------- ---------------
Profit for the period 4,053 11,880
================ === ===============
Other comprehensive income
(expense)
Item that may be reclassified
subsequently to profit or loss:
Exchange differences arising on
translation of foreign
operations 1,585 (5,754)
---------------- --- ---------------
Total comprehensive income for the
period 5,638 6,126
================ === ===============
Profit for the period attributable
to:
Owners of the Company 4,089 11,938
Non-controlling interests (36) (58)
---------------- ---------------
4,053 11,880
================ === ===============
Total comprehensive income
attributable to:
Owners of the Company 5,719 6,184
Non-controlling interests (81) (58)
---------------- ---------------
5,638 6,126
================ === ===============
Earnings per share
Basic and diluted $(USD)$ 0.01 0.02
================ === ===============
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
As at March 31, As at December 31,
--------------- ------------------
2026 2025
--------------- ------------------
USD'000 USD'000
Non-current Assets
Property, plant and equipment 162,923 160,301
Right-of-use assets 201,826 204,180
Intangible assets 288 311
Deferred tax assets 4,639 4,725
Other receivables 1,961 1,961
Prepayment 437 325
Rental and other deposits 20,730 20,709
--------------- ------------------
392,804 392,512
--------------- ------------------
Current Assets
Inventories 36,312 37,519
Trade and other receivables and
prepayments 33,233 35,652
Financial assets at fair value through
profit or loss 34,691 -
Rental and other deposits 5,417 5,417
Pledged bank deposits 2,887 2,793
Bank balances and cash 237,110 271,990
--------------- ------------------
349,650 353,371
--------------- ------------------
Current Liabilities
Trade payables 31,191 36,337
Other payables 40,293 42,980
Amounts due to related parties 1,686 2,177
Tax payable 5,986 7,031
Lease liabilities 45,619 45,662
Contract liabilities 10,665 10,658
Provisions 1,956 1,987
--------------- ------------------
137,396 146,832
--------------- ------------------
Net Current Assets 212,254 206,539
--------------- ------------------
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
As at March 31, As at December 31,
--------------- --------------------
2026 2025
--------------- --------------------
USD'000 USD'000
Non-current Liabilities
Deferred tax liabilities 5,753 6,184
Lease liabilities 181,392 183,139
Contract liabilities 2,818 2,905
Provisions 15,506 15,179
-------------- ----------------
205,469 207,407
-------------- ----------------
Net Assets 399,589 391,644
============== ================
Capital and Reserves
Share capital 3 3
Shares held under share award scheme * *
Share premium 550,593 550,593
Reserves (154,775) (160,494)
-------------- ----------------
Equity attributable to owners of the
Company 395,821 390,102
Non-controlling interests 3,768 1,542
Total Equity 399,589 391,644
============== ================
* Less than USD1,000
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
For the three months ended March 31,
------------------------------------------
2026 2025
---------------------- ------------------
USD'000 USD'000
Net cash from operating activities 24,235 19,693
Net cash used in investing
activities (53,545) (55,605)
Net cash used in financing
activities (10,148) (14,828)
----------------- --------------
Net decrease in cash and cash
equivalents (39,458) (50,740)
----------------- --------------
Cash and cash equivalents at
beginning of the period 144,590 254,719
Effect of foreign exchange rate
changes (966) 954
----------------- --------------
Cash and cash equivalents at end
of the period 104,166 204,933
----------------- --- --------------
Represented by:
Bank balances and cash 237,110 204,933
Less: time deposits with original
maturity over three months (132,944) -
----------------- --------------
104,166 204,933
================= === ==============
(END) Dow Jones Newswires
May 20, 2026 06:00 ET (10:00 GMT)
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