Quarterly and Annual Revenue Growth
Q4 2025 total revenue of USD 230.0M, up 10.2% YoY and +7.5% QoQ; full-year 2025 revenue of USD 840.8M (USD 841M reported), up 8.0% YoY.
Strong Takeout and Other Business Expansion
Full-year takeout revenue USD 19.0M, up 68.1% YoY; Q4 takeout USD 6.8M, up 94.3% YoY. Other business revenue USD 31.8M for full year, up 61.4% YoY, reflecting traction from Pomegranate Plan and peripheral products.
Improving Customer Traffic and Table Turnover
Q4 served 8.31 million diners, +3.89% YoY. Company average table turnover rate: full-year 3.9 turns/day; same-store 4.0 turns/day; Q4 average table turnover 4.0 turns/day, +0.1 turn YoY.
Healthy Recovery in Operating Profitability in H2
Full-year operating profit USD 37.4M. Quarterly operating margin recovered from 1.9% in Q2 to 5.9% in Q3 and 5.7% in Q4, indicating a clear recovery trend in the second half of 2025.
Membership and Customer Base Growth
Overseas members exceeded 8.5 million by end of 2025, showing strong natural member growth and improving local customer penetration in key markets.
International Expansion and Store Footprint
Opened 13 Haidilao stores in 2025 across 9 countries (including Malaysia, South Korea, Indonesia, Japan, US, Australia, Canada, UAE, Philippines); operated 126 overseas Haidilao stores at year-end; several second-brand pilot projects progressed.
Early Validation of Pomegranate Plan / Second Brands
Several second-brand prototypes (e.g., Sparkora BBQ, Canada Hi Bowl, Japanese Izakaya) progressed and some have achieved single-store profitability, supporting the feasibility of new formats overseas.
Cash Position and Net Profit Improvement
Capital reserve increased to USD 270M (from USD 250M at end-2024) due to net cash inflow from operations. Full-year after-tax net profit USD 36.3M improved, partly aided by favorable FX revaluation.
Regional Operational Strength — East Asia and North America
East Asia Q4 table turnover 5.1 turns/day (up ~0.3 turns YoY) with average customer spend ~USD 28. North America showed stability with average customer spend USD 41.4 and average daily revenue per restaurant ~USD 24,100.