Super Hi International Holding LTD ADR Dossier
Qualitative Analysis
Business overview
Super Hi International Holding Ltd. (NASDAQ: HDL; HKEX: 9658) is a leading Chinese cuisine restaurant brand that operates Haidilao hot pot restaurants in international markets outside of Mainland China, Hong Kong, Macau, and Taiwan. Spun off from Haidilao International Holding Ltd. in 2022, the Singapore-headquartered company has expanded its footprint across four continents, operating 127 self-operated restaurants as of March 31, 2026. Super Hi is primarily engaged in restaurant operations, delivery services, and the sale of hot pot condiment products and food ingredients. The brand is globally recognized for its unique dining experience, characterized by highly attentive customer service, interactive dining, and a strong cultural appeal.
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
A strategic initiative focused on incubating secondary restaurant brands and diversifying into multiple business concepts to enrich the company's business and customer base.
Expected impact: Enables diversification beyond the core Haidilao hot pot brand and drives incremental top-line growth.
Shifting focus from rapid geographic expansion to enhancing single-store profitability, improving margins, and imposing stricter requirements on new store location accuracy and execution quality.
Expected impact: Improves group-wide operating margins, reduces losses at underperforming locations, and optimizes unit economics.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Strategic Partnerships
High, as it directly supports the expansion of the delivery business, which saw revenue increase by 82.5% year-over-year in Q1 2026.
Terms: Not publicly disclosed