TH International (THCH) Q2 2025 Earnings Call August 26, 2025 08:00 AM ET Company ParticipantsGemma Bakx - IR & Corporate CommunicationYongchen Lu - CEO & DirectorDong Li - CFOConference Call ParticipantsSteve Silver - Senior Equity Research AnalystOperatorLadies and gentlemen, welcome to TIM's China's Second Quarter twenty twenty five Earnings Conference Call. All participants will be in listen only mode during management's prepared remarks and there will be a question and answer session to follow. Today's ...

北京商报讯（记者 张天元）8月26日，连锁咖啡品牌Tim Hortons中国业务（以下简称"Tims天好中国"） 公布了2025年第二季度财报。数据显示，Tims天好中国实现营收3.49亿元，系统销售额同比增长1.4%至 4.095亿元。其中，特许经营与零售业务贡献了稳定的现金流和盈利，其他业务收入同比增长50.7%。 根据财报，截至2025年6月30日，Tims天好中国的加盟门店总数量增至449家，较去年二季度333家门店 同比增长35%。报告期内，安徽六安、山西晋城、浙江丽水等多个省市的新城首店盛大开幕。至此， Tims天好中国的全国门店数达到1015家，覆盖90个城市。从定位来看，Tims天好中国进一步深化特渠 网络布局。一方面，在更多交通枢纽点位，把Tims开进更多高铁站、机场、高速服务区打造"旅途补给 站"。同时增加对医院、学校、银行等特渠门店的覆盖力度，依托其精准稳定的客流优势，有效匹配场 景化需求，进一步提升消费频次。据悉，本季度全新拓展18家特渠门店。 同时，公司特许加盟业务继续保持快速增长。截至2025年6月30日，Tims天好中国加盟门店数量增至 449家，较去年同期333家实现增长。其他 ...

Tims天好中国CFO李东表示："第二季度，我们通过推出午餐时段'轻体午餐盒'系列产品，巩固了'咖啡 +暖食'的差异化战略定位，进一步推动门店营收与单店经济效益。本季度我们持续恢复营收增长，实现 系统销售额同比增长1.4%。特许经营与零售业务也贡献了稳定的现金流和盈利，其他业务利润同比增 长110.3%。同时，我们再次实现季度经调整企业EBITDA转正。这些成果印证了Tims中国持之以恒的努 力，以及我们对实现可持续盈利增长的追求。" 第二季度，Tims天好中国共推出43款新品，包括28款饮品和15款食品。二季度，Tims天好中国食品收 入同比增长8.6%，食品收入占比从2024年第二季度的32.5%提升至本季度的35.2%，创历史新高。 此外，Tims天好中国会员规模再创新高，截至2025年6月30日，品牌注册会员总数达2619万人，同比增 长22.4%，店均注册会员超过2.58万人。 8月26日，Tim Hortons中国业务（以下简称"Tims天好中国"）公布了2025年第二季度财报。期内，公司 实现营收3.49亿元，系统销售额同比增长1.4%至4.095亿元。其中，特许经营与零售业务贡献了稳定的 现金 ...

智通财经8月2日电，星巴克计划在机场门店设置自助服务亭，以缓解排队长龙问题。 ...

Core Insights - Tims China reported a total revenue of 300.7 million yuan and a system sales of 376.3 million yuan for Q1 2025, with self-operated stores contributing 17.15 million yuan, representing a contribution rate of 6.7%, a year-on-year increase of 5.9% [1][2] - The total number of Tims China stores reached 1,024, including 569 self-operated and 455 franchised stores, covering 84 cities nationwide [1] - The brand's registered membership reached 25.15 million, a year-on-year growth of 25.7%, with an average of over 24,500 members per store [1] Financial Performance - The costs and expenses for self-operated stores decreased by 19% compared to Q1 2024, with food and packaging costs down by 24.6%, rent and property management fees reduced by 12.9%, and other operating expenses decreased by 25.6% [2] - Marketing expenses at the headquarters level decreased by 11.8% due to the expanding brand influence [2] - The adjusted EBITDA loss was significantly reduced by nearly 50%, indicating improved profitability [2] Strategic Initiatives - The introduction of the "Light Lunch Box" product line aims to strengthen the "Coffee + Warm Food" differentiation advantage, driving system sales growth and enhancing store efficiency [2] - The company is focusing on franchise strategies to consolidate scale advantages while achieving organic growth in profitability [2] - Tims China plans to leverage the recovery in consumer spending to further advance its franchise strategy and ensure sustainable growth [2]

Core Viewpoint - Tim Hortons China reported a strong performance in Q1 2025, with total revenue reaching 300.7 million RMB and system sales at 376.3 million RMB, indicating a solid growth trajectory in the Chinese market [1] Group 1: Financial Performance - The company's Q1 revenue was 300.7 million RMB, with system sales of 376.3 million RMB [1] - Self-operated stores contributed 17.15 million RMB, with a contribution rate of 6.7%, showing a year-on-year growth of 5.9% [1] - Other income for Q1 was 46 million RMB, a 28.6% increase from 35.8 million RMB in the same period last year, with profit from other income rising by 34.5% [2] Group 2: Store Expansion - The total number of stores reached 1,024, with 569 self-operated and 455 franchised stores, covering 84 cities across China [1] - The number of franchised stores increased by 153 from 302 in the previous year, averaging one new franchise opening every two days [1] - Seven new special channel franchise stores were opened in Q1, located in major transportation hubs such as airports [2] Group 3: Operational Efficiency - The company achieved a nearly 50% reduction in adjusted EBITDA losses, indicating improved profitability [3] - Self-operated store costs and expenses decreased by 19.0% compared to the previous year, with food and packaging costs down by 24.6% [2] - Marketing expenses at the headquarters level decreased by 11.8% as brand influence expanded [2] Group 4: Strategic Initiatives - The CEO emphasized the importance of innovation and execution to tailor products to changing consumer preferences in 2025 [3] - The company aims to leverage the recovery in national consumption and further advance its franchise strategy to achieve sustainable growth [3]