The financial report shows that Tehai International has finally turned losses into profits after four consecutive years of losses.
Haidilao’s overseas company has decided to go public twice.
Recently, Haidilao’s overseas business entity, Tehai International (09658. HK), announced that the board of directors has decided to publicly issue new American depositary shares on the NASDAQ stock market in the United States, with an expected maximum issuance of approximately 123 million shares, promoting Tehai International’s dual listing on both the Hong Kong and US stock markets.
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On December 30, 2022, Tehai International Landing Port Exchange. The financial report shows that Tehai International has finally turned losses into profits after four consecutive years of losses. According to the 2023 annual report, the company’s revenue was 686 million US dollars, a year-on-year increase of 22.95%; The net profit attributable to the parent company was 25.65 million US dollars, an increase of 162.19% year-on-year.
For the reason for the increase in net profit in 2023, Tehai International stated that the first reason is the increase in the average turnover rate of each restaurant, followed by improvements in internal management and operations, which optimize costs and expenses related to restaurant operating efficiency. In addition, the decrease in net impairment losses on property, plant, equipment, and right of use assets is also one of the reasons.
As of December 31, 2023, Tehai International has operated a total of 115 Haidilao hot pot restaurants in the international market, including 70 in Southeast Asia, 17 in East Asia, 18 in North America, and 10 in other regions. Entering the UAE market for the first time in early 2023. Compared to the end of 2022, there were a net increase of 4 Haidilao hot pot restaurants overseas.
In 2023, the overall average turnover rate of Hai Di Lao’s overseas restaurants was 3.5 times per day, an increase of 0.2 times compared to the turnover rate of 3.3 times in 2022.
As of the time of publication, on March 29th, Tehai International News reported a decrease of HKD 14.2 per share, with a daily decline of 3.01%.