TH International Ltd

TH International Limited announced the closing of the third tranche of Senior Secured Convertible Notes due 2029, amounting to US$14,374,349.00, with a total purchase price of US$15 million. These notes were issued to Tim Hortons Restaurants International GmbH and will rank equally with existing convertible notes. Additionally, the company announced a change in its board of directors, with Mr. Stanford Ming Lin appointed as a director, succeeding Mr. Thiago Santelmo.

TH International Limited (Tims China) announced it will release its second quarter 2026 financial results before the U.S. market opens on Tuesday, August 18, 2026. A conference call to discuss the results will be held on the same day at 8:00 AM EST. The webcast will be available on the company's Investor Relations website, and pre-registration is encouraged.

TH International Limited (Tims China) announced the completion of the issuance of the first tranche of its Senior Secured Convertible Notes due 2029. The principal amount for this tranche was US$15,623,304.00, with total proceeds, including accrued interest, reaching US$15.8 million. These notes were issued to Tim Hortons Restaurants International GmbH and will be consolidated with the company's existing convertible notes. Tims China anticipates issuing three additional tranches, with the final one expected in the first quarter of 2027.

TH International Ltd (Tims China) reported a 14.6% decrease in total revenues to RMB256.7 million for the first quarter of 2026, compared to the same period in 2025. The company experienced a net closure of 21 stores and a significant drop in company-owned store contribution. Despite these challenges, registered loyalty club members grew by 42.9% year-over-year to 35.9 million. The company also announced an agreement for up to $55.0 million in convertible notes to fund expansion and strengthen its balance sheet. Net loss widened to RMB109.3 million.

TH International Limited (Tims China) announced the appointment of Mr. Kwok Wah Cheung as its new Chief Executive Officer, effective June 15, 2026, as part of its succession planning. Mr. Cheung brings over 20 years of experience in major consumer businesses in China. Concurrently, Mr. Yongchen Lu will transition from CEO to Chairman, and current Chairman Mr. Peter Yu will remain a director. Additionally, Tims China will issue up to $55.0 million in additional senior secured convertible notes to Tim Hortons Restaurants International GmbH, with proceeds earmarked for store network expansion and working capital.

TH International Limited announced its first quarter 2026 financial results, reporting a 14.6% decrease in total revenues to RMB256.7 million (USD37.2 million) and a net loss of RMB109.3 million (USD15.8 million). The company experienced a 14.2% decrease in system sales and a net closure of 21 stores during the quarter. Despite the financial downturn, registered loyalty club members grew by 42.9% year-over-year to 35.9 million. The company also announced a definitive agreement for the issuance of up to US$55.0 million in senior secured convertible notes to fund expansion and fortify its balance sheet.

Tims China announced a significant leadership transition, appointing Mr. Kwok Wah Cheung as its new Chief Executive Officer, effective June 15, 2026. Current CEO Mr. Yongchen Lu will assume the role of Chairman, while Mr. Peter Yu steps down as Chairman but remains a director. Mr. Cheung brings over 20 years of experience in consumer businesses in China. Concurrently, the company secured up to an additional US$55.0 million in senior secured convertible notes from Tim Hortons Restaurants International GmbH, which will fund further store network expansion and working capital.

TH International Limited ("Tims China") announced it will release its first quarter 2026 financial results before the U.S. market opens on Tuesday, June 9, 2026. A conference call will follow at 8:00 AM EDT, which will be webcast on the company's Investor Relations website. Participants are encouraged to pre-register for the call.

Tims China reported Q4 2025 results with system sales increasing 4.0% year-over-year to RMB359.4 million, despite total revenues decreasing by 7.3% to RMB308.5 million. For the full year 2025, total revenues declined 5.4% to RMB1,316.2 million. The company achieved 17 net new store openings in Q4 and grew its loyalty club members by 29.0% to 31.0 million, while improving full-year adjusted corporate EBITDA margin by 1.0 percentage point. Management highlighted a strategic transition towards "Coffee + Freshly Prepared Food" and strong sub-franchise contributions.