TH International (US:THCH) Sou Hu Wang·2025-12-09 13:21Core Insights - Tims China reported a total revenue of 358 million RMB for Q3 2025, with system sales reaching 420 million RMB, reflecting a year-on-year growth of 12.8% [1] - The company has expanded its store count to 1,030, marking a historical high, with 551 self-operated stores and 479 franchised stores across 91 cities in China [1] - The membership system has seen significant growth, with total registered members reaching 27.9 million, a 22.3% increase year-on-year, and an average of over 27,100 members per store [1] Financial Performance - Tims China achieved a positive net increase in store count and continued strong growth in system sales, with same-store sales in self-operated locations increasing by 3.3% [2] - Other income profits grew by 58.2% year-on-year, contributing to stable cash flow and profitability from franchise and retail operations [2] - The company successfully issued approximately 89.9 million USD in secured convertible bonds, improving its financial structure and providing crucial funding for future growth [2] Company Background - Tims China holds exclusive franchise rights for Tims Coffee in mainland China, Hong Kong, and Macau, supported by private equity firm Cartesian Capital and Restaurant Brands International [3] - The brand focuses on combining advanced management practices with data-driven strategies, emphasizing localized products, continuous innovation, and convenience [3]