特海国际2025 中期报告

SUPER HIINTERNATIONALHOLDING LTD.特 海 国 际 控 股 有 限 公 司 INTERIM REPORT中 期 報 告2025 (Incorporated in the Cayman Islands with limited liability)（於開曼群島註冊成立的有限公司） Stock Code 股份代號 : 9658 CONTENTS Definitions2Corporate Information6Key Financial Highlights92025 Interim Performance Review202510Management Discussion and Analysis14Corporate Governance and Other Information36Independent Auditor’s Review Report on the UnauditedInterim Condensed Consolidated Financial Statements50Condensed Consolidated Statement of Profit orLoss and Other Comprehensive Income52Condensed Consolidated Statement of Financial Position53Condensed Consolidated Statement of Changes In Equity55Condensed Consolidated Statement of Cash Flows57Notes to the Condensed Consolidated FinancialStatements59 Corporate Information BOARD OF DIRECTORS 董事會 Chairlady and Non-executive Director Ms. SHU Ping Executive Directors Ms. June YANG LijuanMr. LI YuMs. LIU Li Independent Non-executive Directors Mr. TAN Kang Uei, AnthonyMr. TEO Ser LuckMr. LIEN Jown Jing Vincent AUDIT COMMITTEE 審計委員會 Mr. TEO Ser Luck(Chairman)Mr. TAN Kang Uei, AnthonyMr. LIEN Jown Jing Vincent REMUNERATION COMMITTEE 薪酬委員會 Mr. LIEN Jown Jing Vincent(Chairman)Mr. TAN Kang Uei, AnthonyMr. TEO Ser LuckMs. SHU Ping NOMINATION COMMITTEE 提名委員會 Ms. SHU Ping(Chairlady)Mr. TEO Ser LuckMr. LIEN Jown Jing VincentMr. TAN Kang Uei, Anthony COMPANY SECRETARIES 公司秘書 Ms. QU CongMr. CHENG Ching Kit 授權代表 AUTHORIZED REPRESENTATIVES Ms. SHU PingMs. QU Cong AUDITOR 核數師 Deloitte & Touche LLPPublic Accountants and Chartered Accountants6 Shenton Way, OUE Downtown 2 #33-00Singapore 068809 Deloitte & Touche LLP6 Shenton Way, OUE Downtown 2 #33-00Singapore 068809 LEGAL ADVISOR 法律顧問 Kirkland & Ellis26/F, Gloucester TowerThe Landmark15 Queen’s Road CentralHong Kong 1526 REGISTERED OFFICE 註冊辦事處 Cricket SquareHutchins DrivePO Box 2681Grand Cayman, KY1-1111Cayman Islands Cricket SquareHutchins DrivePO Box 2681Grand Cayman, KY1-1111Cayman Islands 總部及新加坡主要營業地點 HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS INSINGAPORE 1 Paya Lebar Link#09-04PLQ 1 Paya Lebar QuarterSingapore 408533 1 Paya Lebar Link#09-04PLQ 1 Paya Lebar QuarterSingapore 408533 香港主要營業地點 PRINCIPAL PLACE OF BUSINESS IN HONG KONG 40th FloorDah Sing Financial CentreNo. 248 Queen’s Road EastWanchaiHong Kong 24840 Corporate Information 香港證券登記處 HONG KONG SHARE REGISTRAR 183171712-1716 Computershare Hong Kong Investor Services LimitedShops 1712-171617th Floor, Hopewell Centre183 Queen’s Road EastWanchaiHong Kong 投資者關係superhi_ir@superhi-inc.com INVESTOR RELATIONS Email: superhi_ir@superhi-inc.com 網站www.superhiinternational.com WEBSITE www.superhiinternational.com HKEX STOCK CODE 香港交易所股份代號 9658 9658 納斯達克股票代碼 NASDAQ SYMBOL HDLHDL 2025 Interim Performance Review2025 2025 In the first half of 2025, as global economic growth slows and countriescontinue to restructure their industrial and trade relationships,delivering superior value-for-money experiences to customers becomeincreasingly critical. We remained committed to our “Dual Focus onEmployees and Customers ()” managementphilosophy, with heightened emphasis on sharing benefits with ouremployees and customers. Our aim was to solidify the managementfoundation while broadening the customer base. 2025396.77.0%3.90.120243.93.0%6.4%2.3 In the first half of 2025, our Group’s total revenue reached US$396.7million, representing a 7.0% increase year-on-year (YoY). The averagetable turnover rate for Haidilao restaurants stood at 3.9 times per day,up by 0.1 times per day YoY. The average same store table turnoverrate remained at 3.9 times per day, consistent with the same periodin 2024, while same-store revenue posted a 3.0% increase YoY. Therestaurant level operating margin stood at 6.4%, down 2.3 percentagepoints YoY. While this change was anticipated due to our competitivepricing policy, it also indicates room for improvement in the precisionmanagement during the operational adjustment phase. 202584202563012674202012 During the Reporting Period, we continued to optimize our globalrestaurant network through a “bottom-up” approach. As part of ourongoing “Woodpecker Plan,” we opened 8 new Haidilao restaurantsand closed 4 underperforming stores in Southeast Asia and East Asiain the first half of 2025. As of June 30, 2025, we operated a total of126 Haidilao restaurants in international markets, comprising 74 inSoutheast Asia, 20 in East Asia, 20 in North America, and 12 in otherregions. 202511.520249.225.0%2025630 Under the “Pomegranate Plan,” the incubation of our secondary brandsprogressed steadily. In the first half of 2025, revenue from othersreached US$11.5 million, representing a 25.0% increase compared toUS$9.2 million recorded during the same period in 2024. As of June30, 2025, we had launched prototype restaurants covering variouscategories, including hot pot, barbecue, and fast food. We are alsopreparing to enter new categories – including Chinese, othe