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Super Hi International Holding Ltd.
It runs Haidilao hot pot restaurants outside China and sells hot pot condiments to overseas customers.
Super Hi International runs Haidilao hot pot restaurants outside China, plus a smaller side business selling hot pot condiments and sauces to customers overseas. If you have slurped noodles at a Haidilao in Singapore, London, New York or Tokyo, you have eaten at this company's restaurant. It is the overseas arm of the famous Chinese hot pot chain, spun out and listed on NASDAQ in 2024, with its headquarters in Singapore.
A hot pot meal is a social event: diners sit around a pot of simmering broth, dunk raw meat, vegetables and noodles into it, and cook their own food at the table. Haidilao's edge is not the food itself but the service and the show. Staff pull noodle dancers out for birthdays, hand out free snacks and toys, and fuss over customers in a way that turns a meal into an occasion. That reputation is why people queue for hours and why the brand travels well across borders — the experience feels special enough to pay up for, and the restaurant is built for groups celebrating something. The money comes from diners paying for food, drinks and broth, plus the retail side selling packaged condiments to supermarkets and online. Running restaurants overseas is a hard, thin-margin business: rents in cities like London and New York are brutal, staff are expensive, and supply chains for Chinese ingredients are longer and costlier than at home. The company is still expanding into new countries and building out its store network, so it spends heavily on opening restaurants rather than returning much cash to shareholders.
The core risk is simple: hot pot is popular, but it is also a crowded, faddish category, and overseas diners may not love it the way Chinese customers do. Super Hi has to prove it can make money outside China at scale, not just open stores. Its bet is that the Haidilao brand and its over-the-top service can win loyal customers far from home — and that the condiment business can ride on the same brand recognition as a steadier, higher-margin add-on.
Saved answer · last researched 15 Nov 2026