Earnings summaries and quarterly performance for TH International.
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Board of directors at TH International.
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TH International Limited Completes Senior Secured Convertible Notes Issuance and Amends Existing Notes
THCH
Debt Issuance
Convertible Preferred Issuance
- TH International Limited completed the issuance of senior secured convertible notes due September 2029 with an aggregate principal amount of approximately US$89.9 million.
- Concurrently, the company repurchased the entire outstanding principal amount of its variable rate convertible senior notes due 2026.
- The company also amended its existing 2024 unsecured convertible notes, extending their maturity date to September 30, 2029, setting the conversion rate to 35.94 Ordinary Shares for each $100 converted, and deleting the mandatory conversion provision, making them convertible exclusively at the holder's option.
2 days ago
Tims China Announces Issuance of Senior Secured Convertible Notes and Amendment to Existing Convertible Notes
THCH
Debt Issuance
Convertible Preferred Issuance
- TH International Limited (Tims China) announced the issuance of Senior Secured Convertible Notes in an aggregate principal amount of approximately US$89.9 million, due in September 2029.
- These new notes are convertible into ordinary shares at a price of US$2.7822 per share and are secured by a pledge of 100% of the shares of TH Hong Kong International Limited and an all-asset debenture of Tims China.
- Part of the proceeds from the new notes will be used to repurchase all outstanding amounts due under its variable rate convertible senior notes due 2026.
- Concurrently, Tim Hortons Restaurants International GmbH (THRI) and Cartesian Capital Group have agreed to extend the maturity of their 2024 unsecured convertible notes from June 2027 to September 2029, with the conversion price reset to align with the new secured notes.
- The transaction has been approved by the board of directors and is expected to close in the fourth quarter of 2025.
Oct 31, 2025, 8:00 PM
Tims China Announces Second Quarter 2025 Financial Results
THCH
Earnings
Revenue Acceleration/Inflection
New Projects/Investments
- For Q2 2025, TH International Limited reported total revenues of RMB349.0 million (USD48.7 million), a 4.9% decrease from the same quarter of 2024, while system sales increased by 1.4% year-over-year to RMB409.5 million (USD57.2 million).
- The company achieved positive adjusted corporate EBITDA of RMB2.2 million (USD0.3 million) in Q2 2025, and its adjusted net loss decreased by 16.2% year-over-year to RMB39.7 million (USD5.5 million).
- Operational highlights include a 22.4% year-over-year growth in registered loyalty club members, reaching 26.2 million as of June 30, 2025, and an increase in franchised stores to 449 from 333 year-over-year. Food revenue also increased by 8.6% year-over-year, contributing a historical high of 35.2% to system sales.
Aug 26, 2025, 12:00 AM
Quarterly earnings call transcripts for TH International.
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