33.RELATED PARTY DISCLOSURES

Save as the amounts due to related parties disclosed in Note 18, the related party transactions are detailed as below:

(A)Related party transactions

During the years ended December 31, 2023, 2024 and 2025, the Group has entered into the following transactions with related parties:

Purchase of goods/services from related parties

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The Group is licensed by Sichuan Haidilao Catering Co., Ltd., a company controlled by the Controlling Shareholders, to use the trademark on a royalty-free basis.

The Group owns the proprietary rights to the formulas of Super Hi Customized Products (the “Condiments Formulae”) in regions other than Chinese Mainland, Hong Kong, Macau and Taiwan regions and licenses the Condiments Formulae to Yihai International Holding Ltd. and its subsidiaries (companies controlled by the Controlling Shareholders) and its contracted manufacturers to use for production on a royalty-free basis.

Disposal of a subsidiary

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On October 31, 2023, the Group disposed all its equity interest in a wholly owned subsidiary, JAPAN HAI Co., Ltd to Newpai for a cash consideration of JPY2.6 billion (equivalent to USD17.4 million). Details of assets and liabilities disposed of, and the calculation of the loss on disposal are disclosed in Note 37.

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(B)Remuneration of key management personnel of the Group

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