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    Sunny Huang

    Research Analyst at Nordic Asia Investment Group

    Sunny Huang is an Investment Analyst at Nordic Asia Investment Group 1987 AB, specializing in equity research focused on Chinese consumer sector companies. She is responsible for covering major publicly listed Chinese firms with a market capitalization of at least $1 billion, and contributes to the firm's strategic goal of generating annual investment returns exceeding 15%. Sunny began her career as an analyst with Evalueserve, working on behalf of Bank of America, before joining Nordic Asia in Shanghai in or before 2021. She holds an MSc in Finance and a BSc in Accounting and Finance from the University of Manchester, is multilingual in Mandarin, Cantonese, and English, and brings analytical expertise shaped by global financial experience.

    Sunny Huang's questions to TH International (THCH) leadership

    Sunny Huang's questions to TH International (THCH) leadership • Q1 2024

    Question

    Asked for an opinion on the extended price war in the coffee industry, and about the sustainability and future plans for Tims' product price hikes.

    Answer

    Yongchen Lu stated that the price war is driven by brands competing solely on coffee. Tims differentiates with its food offerings, which allows for price increases on unique items like bagels without a significant impact on sales. For coffee, the company will remain competitive through discounts and value offerings, while also promoting competitively priced combo meals.

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    Sunny Huang's questions to TH International (THCH) leadership • Q1 2024

    Question

    Sunny Huang of Nordic Asia Investment Group asked for management's view on the extended price war in the coffee sector and questioned the sustainability of recent price hikes on certain Tims products.

    Answer

    CEO Yongchen Lu explained that the price war is primarily among brands competing solely on coffee. He asserted that Tims China's differentiated food offerings, like bagels, allow for successful price increases without significant sales impact. While drink prices will remain competitive through discounts, the company leverages its unique food items and value-driven combo meals to protect margins.

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