Core Insights - Tims China reported a total revenue of RMB 358 million for Q3 2025, with system sales reaching RMB 420 million, reflecting a year-on-year growth of 12.8% [1] - The total number of stores increased to 1,030, with 15 new stores added during the reporting period [1] - The company has successfully issued approximately $89.9 million in secured convertible bonds, improving its financial structure and providing crucial funding for future development [1] Financial Performance - The company achieved a same-store sales growth of 3.3% in its direct-operated stores [2] - Other income profit increased by 58.2% year-on-year, contributing to stable cash flow and profitability from franchise and retail operations [2] Market Strategy - Tims China is focusing on optimizing its store network while consolidating its competitive advantage in core cities [1] - The company is implementing a differentiated "coffee + warm food" strategy to enhance customer experience and drive sales [2]