Super Hi International Holding Ltd. (HK:9658)
:9658
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Super Hi International Holding Ltd.
(9658)
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Rating:56Neutral
Price Target:
HK$11.50
▼(-13.34% Downside)
Action:ReiteratedDate:04/16/26
The score is primarily supported by improved financial performance (turnaround to sustained profitability and positive operating cash flow), but is held back by weakening 2025 margins/free-cash-flow softness and clearly bearish technical signals (below major moving averages with negative MACD). Valuation is moderately high (P/E ~27) without a stated dividend yield to offset.
Positive Factors
Sustained profitability turnaround
The company shifted from multi-year losses to sustained profitability (2023–2025), which signals durable business-model recovery and operational execution. Persistent profits improve reinvestment capacity, reduce refinancing need, and support long-term scaling of the Haidilao overseas franchise model.
Negative Factors
2025 margin compression and FCF softness
Declining gross and slightly lower operating margins in 2025, coupled with a sharp drop in free cash flow, indicate rising cost or pricing pressure and higher reinvestment/working-capital needs. This weakens unit economics and reduces durable cash available for debt reduction or expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained profitability turnaround
The company shifted from multi-year losses to sustained profitability (2023–2025), which signals durable business-model recovery and operational execution. Persistent profits improve reinvestment capacity, reduce refinancing need, and support long-term scaling of the Haidilao overseas franchise model.
Read all positive factors
Super Hi International Holding Ltd. (9658) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$6.50B
Dividend YieldN/A
Average Volume (3M)633.69K
Price to Earnings (P/E)27.2
Beta (1Y)0.69
Revenue Growth7.93%
EPS Growth80.47%
CountryHK
Employees13,057
SectorConsumer Cyclical
Sector Strength84
IndustryRestaurants
Share Statistics
EPS (TTM)0.08
Shares Outstanding650,299,000
10 Day Avg. Volume690,690
30 Day Avg. Volume633,689
Financial Highlights & Ratios
PEG Ratio0.45
Price to Book (P/B)2.54
Price to Sales (P/S)1.18
P/FCF Ratio16.17
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$13.80Price Target Upside3.96% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.07
Revenue Forecast (FY)HK$913.74M
Super Hi International Holding Ltd. Business Overview & Revenue Model
Company Description
Super Hi International Holding Ltd., an investment holding company, operates Haidilao branded Chinese cuisine restaurants in Asia, North America, and internationally. The company is involved in the food delivery business. It also engages in sale o...
How the Company Makes Money
The company primarily makes money by selling food and beverages through its Haidilao-branded hot pot restaurants in overseas markets. Revenue is mainly generated from dine-in customer spending (e.g., hot pot broth and ingredients, side dishes, bev...
Super Hi International Holding Ltd. Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
58
Neutral
Cash Flow
61
Positive
| Breakdown | TTM | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 804.11M | 842.00M | 778.31M | 686.36M | 558.23M | 312.37M |
| Gross Profit | 257.40M | 190.21M | 273.68M | 225.61M | 183.53M | 43.39M |
| EBITDA | 182.55M | 124.45M | 110.38M | 120.09M | 45.45M | -60.52M |
| Net Income | 54.74M | 36.48M | 21.80M | 25.65M | -41.25M | -150.75M |
Balance Sheet | ||||||
| Total Assets | 702.44M | 745.78M | 684.42M | 576.88M | 576.11M | 626.72M |
| Cash, Cash Equivalents and Short-Term Investments | 258.47M | 274.75M | 254.72M | 152.91M | 93.89M | 126.12M |
| Total Debt | 215.24M | 228.77M | 212.63M | 202.94M | 242.30M | 745.57M |
| Total Liabilities | 327.53M | 354.19M | 322.76M | 304.76M | 334.07M | 813.90M |
| Stockholders Equity | 373.36M | 390.05M | 360.03M | 270.09M | 239.81M | -187.18M |
Cash Flow | ||||||
| Free Cash Flow | 91.39M | 61.36M | 84.95M | 81.07M | 7.85M | -63.03M |
| Operating Cash Flow | 91.39M | 114.65M | 119.70M | 114.05M | 68.32M | 4.38M |
| Investing Cash Flow | 9.05M | -177.31M | -27.62M | -11.78M | 888.00K | -87.46M |
| Financing Cash Flow | -35.08M | -51.03M | 12.58M | -43.79M | -65.87M | 108.50M |
Super Hi International Holding Ltd. Technical Analysis
Negative
13.27
Price Trends
12.56
Negative
12.97
Negative
13.93
Negative
Market Momentum
-0.34
Negative
39.29
Neutral
37.27
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9658, the sentiment is Negative. The current price of 13.27 is above the 20-day moving average (MA) of 11.66, above the 50-day MA of 12.56, and below the 200-day MA of 13.93, indicating a bearish trend. The MACD of -0.34 indicates Negative momentum. The RSI at 39.29 is Neutral, neither overbought nor oversold. The STOCH value of 37.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:9658.
Super Hi International Holding Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | HK$81.38B | 17.57 | 40.94% | 5.78% | 1.16% | -13.86% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
57 Neutral | HK$2.55B | 39.60 | 1.82% | 1.12% | -13.86% | 6.94% | |
56 Neutral | HK$6.50B | 27.19 | 9.65% | ― | 7.93% | 80.47% | |
55 Neutral | HK$2.29B | 19.78 | 5.05% | 6.90% | -3.45% | -50.11% | |
47 Neutral | HK$1.38B | -6.98 | -6.36% | ― | -11.97% | 73.87% |
* Consumer Cyclical Sector Average
HK:9658
Super Hi International Holding Ltd.
10.71
-6.11
-36.33%
HK:6862
Haidilao International Holding
14.01
-2.63
-15.81%
HK:9922
Jiumaojiu International Holdings Ltd.
1.83
-0.66
-26.51%
HK:2150
Nayuki Holdings Ltd.
0.79
-0.34
-30.09%
HK:0341
Cafe de Coral Holdings Ltd.
3.99
-2.77
-40.98%
Super Hi International Holding Ltd. Corporate Events
Super Hi International Refreshes Board and Committee Structure
Apr 15, 2026
Super Hi International Holding Ltd. has announced an updated composition of its board of directors effective April 15, 2026, confirming a seven‑member board led by chairlady and non‑executive director Shu Ping alongside three executive...
Super Hi reshapes top management as Li Yu returns as CEO
Apr 15, 2026
Super Hi International Holding Ltd., a dual-listed restaurant group associated with the Haidilao brand, operates and develops hotpot and related catering businesses across international markets. The company emphasizes management depth and internat...
Super Hi International Files 2025 Form 20-F With U.S. SEC
Apr 13, 2026
Super Hi International Holding Ltd., a dual-listed company on the Hong Kong Stock Exchange and Nasdaq, operates from Singapore and maintains a board led by chairperson Shu Ping with a mix of executive and independent non-executive directors. The f...
Super Hi Sets AGM Record Date and Clarifies Voting Rights for Share and ADS Holders
Apr 13, 2026
Super Hi International Holding Ltd. has set April 27, 2026 as the record date for ordinary shareholders to determine eligibility to attend and vote at its upcoming annual general meeting, requiring share transfers to be lodged with its Hong Kong r...
Super Hi strengthens governance as HKEX confirms secretary qualification and appoints new joint company secretary
Mar 31, 2026
Super Hi International Holding Ltd. has received confirmation from the Hong Kong Stock Exchange that its company secretary, Ms. Qu Cong, now independently meets the qualification requirements under Rule 3.28 of the Listing Rules, ending reliance o...
Super Hi Grows International Haidilao Footprint but Faces Profit Margin Pressure in 2025
Mar 31, 2026
Super Hi International Holding Ltd., operator of Haidilao hot pot restaurants outside mainland China, reported continued expansion in 2025, ending the year with 126 outlets and higher guest traffic and table turnover. The group saw over 32 million...
Super Hi Lifts 2025 Revenue and Profit as Haidilao Network Expands, Margins Tighten
Mar 31, 2026
Super Hi International Holding Ltd. reported 2025 revenue of US$840.8 million, up 8.0% year-on-year, with Haidilao restaurant operations contributing the bulk of sales and net profit rising 69.6% to US$36.3 million, aided in part by favourable for...
Super Hi International Moves to Update Articles to Meet Latest HKEX Rules
Mar 31, 2026
Super Hi International Holding Ltd. plans to replace its existing articles of association with a fourth amended and restated version to align its corporate governance framework with the latest Hong Kong listing and regulatory requirements. The pro...
Super Hi International Sets March 31 Board Meeting to Approve 2025 Results
Mar 19, 2026
Super Hi International Holding Ltd. has scheduled a board meeting for March 31, 2026, to review and approve its unaudited fourth-quarter 2025 results and full-year 2025 annual results, and to consider recommending a final dividend. The company pla...
Super Hi Flags Higher 2025 Profit on Forex Gain Despite Margin Pressure
Mar 2, 2026
Super Hi International Holding Ltd. expects to report at least US$840 million in revenue for 2025, up from US$778.3 million a year earlier, and profit attributable to owners of at least US$34 million versus US$21.8 million in 2024. The company att...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.