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What Do They Do?

Runs chicken and fish-head hotpot restaurants, sells food ingredients and condiments to distributors and franchisees, and licenses restaurant brands to franchise operators.

How Do They Make Money?

The company earns money from diners buying meals, buyers purchasing food ingredients and condiments, and franchise licensing. Diners pay when they take their food; franchisees generally settle royalties and administrative fees monthly, while overseas master licensees pay an upfront fee.

revenue
SegmentShareRevenue
Revenues from third parties
91%
Revenues from related parties
8.7%

Who Are Their Customers?

Diners eat at company-owned outlets or franchised restaurants; local distributors and franchisees buy food ingredients and condiments, and franchisees operate under brand licenses.

Do Revenues Turn Into Profits?

No. It lost $2.7M in FY2025.

Operating income, FY2025
−25% of revenue
▼ Now a loss vs FY2024 ($1.3M, 15%)
Net income, FY2025
−28% of revenue
▼ Now a loss vs FY2024 ($913.4K, 10%)
Free cash flow, FY2025
−8% of revenue
▲ +100% (Loss) vs FY2024 (−$378.4K, −4%)

How Are They Changing?

Flat. Revenue was $9.6M in FY2025, about the same as the $9.8M of FY2023.

Revenue over time
Revenues from third parties Revenues from related parties
$10M$5M$0

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