THCH News & Events

TH International files $30M mixed securities shelf

Reports Q4 revenue RMB 332.6M vs. RMB 377.9M last year. Yongchen Lu, CEO, commented, "2024 marked a pivotal year for the Company, we solidified our differentiated strategic positioning in "Coffee + Freshly Prepared Food", completed the made-to-order renovation of almost all company owned and operated stores, surpassed 24 million registered loyalty club members, and received over 6,200 individual sub-franchisee applications by year-end. In Q4 2024, we celebrated the grand opening of the 1,000th Tims China shop in central Shanghai, where the Tims China story began. This achievement is a testament to Tims China's enduring presence in the region, and to our ambition for further growth. Amidst macroeconomic volatility and intense market competition, our team demonstrated great resilience and achieved significant profitability improvements through enhanced operational efficiencies, supply chain optimizations, and rigorous cost controls. 2024 full-year company owned and operated store contribution margin and full-year adjusted corporate EBITDA margin improved by 5.3 percentage points, and 9.9 percentage points year-over-year, respectively."

Reports Q2 revenue RMB 366.8M vs. RMB 411.7M last year. Registered loyalty club members totaled 21.4 million members as of June 30, 2024, representing a 45.4% increase from the same quarter of 2023.Y ongchen Lu, CEO & Director of Tims China, commented, "Tims has achieved a critical milestone in the second quarter, as we achieved adjusted corporate EBITDA profitability for the first time in our corporate history. This result was driven by an intense focus on our core strengths of delivering guests great value for money and a differentiated fresh food offering, coupled with continuous improvements in operational efficiency. This important milestone comes as we deliver eight consecutive quarters of adjusted store EBITDA profitability, with our highest ever adjusted store EBITDA margin of 10.3%. Our focus on profitable growth has included greater emphasis on building our franchise network, collaborating closely with our sub-franchisees to provide them with compelling unit economics while delivering our guests a consistent experience and driving our bottom-line profit. Our efforts are paying off not just in our improving profitability but in the strength of our sub-franchisees pipeline, which stands at over 3,600 applications as of the end of June."