Haidilao operator reports $15.5 million Q4 loss

Super Hi International, which operates the Haidilao restaurant brand, reported a significant net loss of $11.6 million for the fourth quarter of 2024. This loss contrasts sharply with a profit of $23.3 million in the same quarter the previous year. The company's revenue did rise by 10.4%, reaching $208.8 million. It also saw a notable increase in operating income, which grew by 44.6% to $17.5 million. However, these gains were overshadowed by a substantial $40.4 million loss due to foreign exchange issues from local currencies losing value against the US dollar. For the full year of 2024, Super Hi's profit fell by 15.4% to $21.4 million, primarily due to increased foreign exchange losses. Revenue for the year increased by 13.4% to $778.3 million, while operating income rose by 23.7% to $53.3 million. Super Hi's loss per share in the fourth quarter was $0.02, compared to a profit per share of $0.04 in the same period a year earlier. The company is dual-listed in Hong Kong and on the Nasdaq in the United States. CEO Yang Lijuan announced plans for continued expansion of the Haidilao network and to enhance customer engagement. By the end of December 2024, Super Hi had 122 Haidilao restaurants outside China and welcomed around 30 million customers to its outlets that year. In China, Haidilao operates about 1,300 locations.