Welcome to our dedicated page for Super Hi International Holding Ltd. news (Ticker: $HDL), a resource for investors and traders seeking the latest updates and insights on Super Hi International Holding Ltd. stock.
Super Hi International Holding Ltd. (NASDAQ: HDL, HKEX: 9658) is an investment holding company that primarily operates in the international restaurant industry. The company's core business revolves around the operation of Haidilao hot pot restaurants globally, excluding Mainland China, Hong Kong, Macau, and Taiwan. Super Hi also engages in the delivery business and the sale of hot pot condiments and food ingredients, thereby extending its market reach and enhancing customer convenience.
Founded on the legacy of the Haidilao brand, which originated in Sichuan in 1994, Super Hi provides a unique dining experience renowned for its attentive service, inviting ambiance, and delicious cuisine. This reputation has helped Haidilao become a cultural phenomenon and one of the most popular Chinese cuisine brands worldwide.
As of March 31, 2024, Super Hi operates 119 self-managed Haidilao restaurants across 13 countries and four continents, making it the largest Chinese cuisine restaurant brand in the international market by country coverage.
In terms of financial performance, Super Hi reported revenue of USD 187.6 million for the first quarter of FY2024, a 16.6% increase from the same period in 2023. This growth was driven by an increase in restaurant operations, raw materials, and consumables. Staff costs also rose by 19.8%, reflecting the company's expansion and higher guest visits. Despite recording a USD 4.5 million loss primarily due to foreign exchange losses, the company continues to focus on optimizing its supply chain, enhancing its brand, and leveraging digital technology to support ongoing growth.
Recent developments include the successful listing on Nasdaq, further solidifying Super Hi's presence in the global market. The company recently raised USD 60.57 million through the issuance of 3,096,600 American Depositary Shares (ADSs), positioning it well for future growth initiatives.
Super Hi’s strategic direction involves expanding its restaurant network, maintaining high standards in food safety and quality control, and securing its leadership position in the industry. The company remains committed to sustainable growth through continuous innovation and adaptation to market trends.
Super Hi International Holding (NASDAQ: HDL, HKEX: 9658) announced the appointment of Ms. Yang Lijuan as the new CEO and executive director, effective July 1, 2024. Ms. Yang, known for her extensive experience with Haidilao International, helped navigate the company through the pandemic and achieved a net profit of 4.495 billion yuan in 2023. Her leadership and strategic insights are expected to strengthen Super Hi's operations and drive growth. Mr. Li Yu, the outgoing CEO, will remain as a senior regional manager and executive director. Additionally, Mr. Wang Jinping has resigned as executive director and COO to focus on new business incubation. These changes are aimed at bolstering the company's leadership and strategic direction.
Super Hi International Holding (NASDAQ: HDL and HKEX: 9658), operating Haidilao hot pot restaurants, announced its unaudited financial results for Q1 2024. Revenue increased by 16.6% to $187.6 million, with Haidilao operations contributing $180.3 million. The company opened 4 new restaurants, totaling 119. Guest visits rose by 21.7% to 7.3 million, while same-store sales grew by 10%. However, income from operations margin declined to 6.6% from 7%. Operational costs and staff expenses also increased, leading to a net loss of $4.5 million compared to a $5.6 million income in Q1 2023. Basic and diluted net loss per share were $0.01. Super Hi successfully listed on Nasdaq in May 2024, raising $60.57 million from an offering of ADSs.
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