Super Hi International Holding Ltd. reported unaudited financial results for the fourth quarter and full year ended December 31 2025, showing revenue of US$230.0 million in Q4 and US$840.8 million for the year, up 10.2% and 8.0% respectively from the same periods in 2024. Operating profit fell to US$13.0 million in Q4 from US$17.5 million a year earlier, while full‑year operating profit rose to US$37.4 million, a 69.6% increase largely driven by a net foreign‑exchange gain of US$33.8 million.
The company’s revenue mix shifted markedly: Haidilao restaurant operations grew 5.7% to US$478.5 million, whereas “other business” revenue surged 61.4% to US$362.3 million, reflecting strong performance in delivery and secondary brand initiatives. The restaurant‑level operating margin for the year was 8.7%, a 1.4‑percentage‑point decline from 10.1% in 2024, underscoring the impact of strategic investments on profitability.
Ms. Yang Lijuan explained that the margin compression was largely due to increased spending on employee incentives, enhanced value propositions, and in‑store experience upgrades, all part of the company’s ‘Pomegranate Plan’ to broaden its business portfolio. The plan’s expansion and the associated capital outlays have lifted operating costs, offsetting the revenue gains from the other business segment.
The company reiterated its commitment to becoming a leading global integrated restaurant group, emphasizing the importance of strengthening its international customer base and delivering richer dining experiences worldwide. Super Hi chose not to pay a dividend in 2025, retaining US$272.0 million in cash and cash equivalents and maintaining a debt‑free balance sheet to fund future growth and digital investments.
Investors reacted modestly, focusing on the company’s margin compression and its continued investment in growth initiatives. The firm’s strong liquidity position and absence of debt provide a buffer as it navigates the trade‑off between expansion and profitability.
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