A：The main developments highlighted for Super High International's Q3 2025 performance include ongoing investment in customer and employee benefits, prioritizing customer satisfaction, and making significant progress in soil management quality and restaurant operating results. The overall table turnover rate in Q3 was 3.9 times, with a year-over-year increase of 0.1 times compared to last year. Revenue reached $214 million, a year-over-year increase of 7.8 percent, and the operating profit margin was 5.9%, down 1.6 percentage points year over year.

A：To improve operational efficiency and customer satisfaction, the company has implemented strategies such as reducing headquarters oversight, enhancing communication with frontline staff and regional offices, and focusing on the fresh cut meat scenario, which has led to a better consumption upgrade experience for overseas consumers. The focus on individual tasks has been shifted to support guidance, resulting in many excellent service cases and improved human practices. Additionally, the company has been adjusting its store network to better fit the business district and customer base changes.

A：The progress with the store network expansion includes the opening of two new Hei La restaurants in Malaysia and Indonesia, discontinuing a Singapore Hei La restaurant, and adjusting one source in Thailand to a secondary brand based on changes in the surrounding business district and customer base. As of the end of the quarter, the company operates 126 Hei La restaurants overseas, with 10 new restaurants opened and six stores discontinued.

A：The company is anticipating the opening of a few stores in the fourth quarter, which will result in a total of over 10 new stores opened this year. For the Polynice plan, the second International is steadily advancing in Q3, with the Ma brand having launched in Canada and quickly becoming profitable at the store level.

A：The next steps in the business strategy for Super High International include refining customer flow, products, and operations, exploring strategies internally, using information technology and smart office systems to support management, and avoiding overextension. The company is also identifying additional opportunities in various sectors, such as the opening of a Sapa, a Bbq store in Indonesia and a unit in Japan. Furthermore, the company plans to continue its management philosophy of connecting interests and securing management, making necessary adjustments to incentive policies, and fully leveraging the mentorship system to attract and retain employees from various countries. The company also aims to pass on and develop its culture and management practices and implement plans for underperforming stores and new technologies such as AI to boost organizational efficiency.

A：Raw material costs totaled 71.2 million US dollars with a gross profit margin of 66.7 percent. Employee costs were 71 million US dollars, an increase of 0.1 percentage point year over year. Depreciation and amortization were 21 million US dollars, a decline of 0.3 percentage point from the previous year. Utility expenses were 778 million US dollars, a 0.2 percentage point decrease year over year. Operating expenses, including travel and other costs, were 23.7 million US dollars, an increase of 1.7 percentage points year over year.

A：Net profit after tax in Q3 was $3.59 million, which was a sharp decline from the 37.6 million US dollars reported in the same period last year. The decline was primarily due to foreign exchange losses caused by the fluctuation of the Japanese yen, Singapore dollar, and British pounds against the US dollar.

A：In the third quarter, the company served approximately 8.1 billion customers, an increase of 9.5 percent year over year. The average daily table turnover rate was 3.9 routes, with a 0.1 route increase from the previous year. Average order value decreased by 1.2 dollars to 24.6 US dollars. East Asia remained a top performer with a 50 percent increase in customers served and a 0.6 route increase in the table turnover rate. The average daily revenue per restaurant in East Asia was 20,300 US dollars, up 14.7 percent from the previous year.

A：Strategic plans for operations and expansion vary by region. In Southeast Asia and East Asia, the focus is on increasing the local customer base by opening more high-quality stores and developing new business formats tailored to local preferences. In North America, the emphasis is on internal improvement, management enhancement, developing leadership talent, and actively expanding into the market. Each country in Southeast Asia will apply a similar strategy to East Asia, focusing on new store expansion and exploring new business models. In Thailand, the focus is on improving management, particularly in areas of product quality, service, and customer experience.

A：The company does not set short-term profit targets for each store to avoid deviations that could harm customers and employees. Instead, it prioritizes managerial efforts and the health of management practices, evaluating managers based on customer satisfaction, employee efforts, and reasonableness of store performance figures.

A：The store openings are driven from bottom up without rushing the process, emphasizing the quality of each store launched.

A：The company is not providing projections for the operating profit margin over the next three years due to its difficulty. However, it plans to continue enhancing store management, opening high-quality new stores, and exploring innovative business models, including localization initiatives.

A：The localization rate varies between regions, with rates above 90% in South Korea, Indonesia, and Vietnam, around 40% to 50% in North America (United States, Canada, and UK), and a unique case in Singapore due to its ethnic diversity.

A：The store opening strategy remains bottom up, prioritizing the quality of new locations over speed, and adjustments have been made according to the woodpecker initiatives. The company continues to monitor store performance for timely adjustments.

A：Overseas employee satisfaction has shown positive outcomes with a one percentage point drop in average monthly employee turnover rate from the same period last year to just over 7% in the latest Q3. Performance is improving with a greater number of stores receiving 8 or B ratings in management reviews. The company will continue to focus on retaining customers and developing employees.

A：Q4 is typically the peak season with a forecast for a higher table turnover rate due to increased demand for gatherings compared to Q3 and year over year. No large-scale investment plans for building supply chains are currently available. New supply chains will promote localized procurement and partnership with importers, and establish small localized R&D labs, but there are no plans for asset-heavy investments like factories.

A：New overseas brands such as 'High' in Canada, 'Spaka Bbq' in Indonesia and Vietnam, and 'Issaka Japanese' in Japan are in stable growth phases, with 'Mala Tang' already profitable. The company is evaluating management capacity and considering information technology and smart platforms for better management and replication across regions. A cautious approach is being taken rather than a rash one.

A：It is difficult to directly quantify and link employee incentives to operational metrics like table turnover rate and profit. However, improving salaries, benefits, and implementing incentive schemes enhances team morale and customer experience. The color coding management system and profit sharing measures have positively affected the table turnover rate and same store table turnover rate in Q3.

A：The company has optimized pricing and portion sizes to offer better value to consumers, resulting in a slight decrease in the average transaction value in the short term. The focus is on overall operational quality and long-term profit from efficiency in management, customer satisfaction, repeat business, and waste control.

A：The company's presence in countries and regions with a large number of stores is due to factors like local customer acceptance, hot pot consumption levels, economic development, and established brands. They enter early, have a long presence, and hot pot is generally accepted. They will continue exploring lower-tier cities but only after thorough research and preparation to ensure the opening of high-quality stores.