Core Points - The founder and chairman of Tai Hing Group, Chen Yong'an, passed away at the age of 66 on November 24 [1][3] - The company announced the appointment of new leadership following Chen's death, with Chen Jiakang, his son, becoming the new chairman [5][10] Company Overview - Tai Hing Group was founded in 1989 in Hong Kong and has grown to include over 210 restaurants across various brands [8][12] - The company has faced a decline in the number of its restaurants in mainland China, reducing from 63 in 2019 to only 4 remaining as of now [10] Financial Performance - For the first half of 2025, Tai Hing Group reported a revenue of HKD 1.712 billion, a year-on-year increase of 6.2%, and a net profit of HKD 40.81 million, up 280.75% [10] - The gross profit margin for the same period was reported at 73.4% [10] Market Context - The tea restaurant market in China is projected to grow, with an expected market size of over RMB 30 billion by 2025 [10]

Core Viewpoint - The founder and chairman of Tai Hing Group, Chen Yong'an, passed away at the age of 66, marking a significant loss for the company and the industry [1][3]. Company Overview - Tai Hing Group was founded in 1989 by Chen Yong'an, who played a crucial role in its development and success [5][7]. - The company operates multiple restaurant brands, including "Tai Hing," "Min Wah Ice Room," "Cha Mu," "Ya San Chicken Rice," and "Kao De Zhu," with over 210 locations across Hong Kong, mainland China, and Macau [12]. Leadership Transition - Following Chen Yong'an's passing, Chen Jiaqiang, his son, has been appointed as the new chairman of the board, while Chen Shufang has been appointed as the vice-chairman [5]. - Chen Jiaqiang has been with Tai Hing Group since 2009 and is expected to continue the company's strategic direction [5]. Business Performance - Tai Hing Group has experienced a decline in the number of its restaurants in mainland China, with the number decreasing from 63 in 2019 to only 4 remaining as of now [10]. - The latest financial report indicates that for the first half of 2025, the company achieved a revenue of HKD 1.712 billion, representing a year-on-year growth of 6.2%, and a net profit of HKD 40.81 million, reflecting a significant increase of 280.75% [10].