Welcome to our dedicated page for TH International SEC filings (Ticker: THCH), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
TH International Limited filings document the company’s foreign-issuer disclosures for Tims China, the exclusive operator of Tim Hortons coffee shops in China. Form 6-K reports include earnings releases with revenue, system sales, store-opening and closure activity, company-owned store contribution, loyalty membership, and operating metrics tied to coffee shops, food, beverages, packaged products, franchise fees, and franchise support activities.
The company’s regulatory record also covers governance matters, including board changes, and capital-structure disclosures related to financing and convertible-note activity. These filings frame THCH’s business through its Tim Hortons store network, China-focused franchise rights, operating results, material events, and public-company reporting status as a Form 20-F foreign private issuer.
TH International Limited (Tims China) reported a weaker first quarter of 2026 with lower revenue and a larger loss while continuing to reshape its store base. Total revenues were RMB256.7 million (USD37.2 million), down 14.6% from the same quarter of 2025, mainly reflecting fewer company-operated stores amid pruning of underperforming locations.
Operating loss narrowed to RMB72.3 million (USD10.5 million), but net loss increased to RMB109.3 million (USD15.8 million), driven largely by a RMB32.6 million (USD4.7 million) loss from changes in fair value of convertible notes. Adjusted net loss improved slightly to RMB65.6 million (USD9.5 million), and adjusted basic and diluted loss per share was RMB2.04 (USD0.30).
Customer engagement continued to strengthen, with registered loyalty club members reaching 35.9 million at March 31, 2026, up 42.9% year over year. The company also entered a definitive agreement with THRI to issue up to US$55.0 million of additional senior secured convertible notes to support nationwide store expansion and its balance sheet.
TH International Limited (Tims China) is reshaping its leadership and capital structure. The Board has appointed Kwok Wah Cheung as Chief Executive Officer effective June 15, 2026, while current CEO Yongchen Lu becomes Chairman and current Chairman Peter Yu remains a director. The company also reports a Board change, with Lucas Alperi joining as a director in place of Rafael Odorizzi. Tims China has agreed with Tim Hortons Restaurants International GmbH to issue up to US$55.0 million in additional senior secured convertible notes, to form a single series with US$89.9 million of existing notes due 2029, with an initial tranche of up to US$15.8 million and later tranches subject to regulatory and performance conditions. Part of the proceeds will support further nationwide store expansion and working capital. The company also plans an amended certificate of designation that adjusts how many directors holders of the Class A-1 Special Voting Share and Series A-2 Preferred Shares may appoint based on their percentage voting power.
TH International Limited (Tims China) is reshaping its leadership and capital structure. The Board has appointed Kwok Wah Cheung as Chief Executive Officer effective June 15, 2026, while current CEO Yongchen Lu becomes Chairman and current Chairman Peter Yu remains a director. The company also reports a Board change, with Lucas Alperi joining as a director in place of Rafael Odorizzi. Tims China has agreed with Tim Hortons Restaurants International GmbH to issue up to US$55.0 million in additional senior secured convertible notes, to form a single series with US$89.9 million of existing notes due 2029, with an initial tranche of up to US$15.8 million and later tranches subject to regulatory and performance conditions. Part of the proceeds will support further nationwide store expansion and working capital. The company also plans an amended certificate of designation that adjusts how many directors holders of the Class A-1 Special Voting Share and Series A-2 Preferred Shares may appoint based on their percentage voting power.
TH International Limited (Tims China) reported unaudited fourth-quarter and full-year 2025 results. Q4 2025 revenue was RMB308.5 million, down 7.3% year-over-year, with system sales still rising 4.0% to RMB359.4 million as the store base reached 1,047 locations.
Q4 operating loss was RMB118.6 million and net loss from continuing operations widened to RMB227.2 million, although adjusted net loss improved to RMB75.7 million and adjusted Corporate EBITDA loss narrowed to RMB35.4 million with a margin of negative 11.6%. For full-year 2025, revenue was RMB1,316.2 million and adjusted Corporate EBITDA loss improved to RMB77.5 million, a margin of negative 5.9%.
Cash, restricted cash and time deposits totaled RMB129.7 million at year-end 2025, down from RMB184.2 million a year earlier, while registered loyalty club members climbed to 31.0 million, reflecting 29.0% year-over-year growth.
TH International Ltd director Gregory R. Armstrong filed an initial Form 3 reporting his status as an insider of the company. The filing does not list any equity transactions or derivative positions, and the transaction summary shows no shares bought, sold, acquired, or disposed.
TH International Ltd director and ten percent owner Yu Peter Michael filed an amended initial ownership report detailing indirect holdings in the company. The filing shows 16,153,040 ordinary shares held indirectly through multiple Pangaea and related investment entities managed via Cartesian Capital Group structures.
The amendment also lists Series A and Series A-1 Convertible Notes with an exercise price of $2.7822 per ordinary share and a maturity date of September 30, 2029, issued in aggregate principal amounts of $10,000,000, $741,340, and $15,000,000 to entities associated with these investment vehicles. In this report, the convertible notes and their underlying ordinary shares are shown with zero balances, while the indirect ordinary share position remains significant.
TH International Ltd director Cheung Ho has filed an initial Form 3 disclosing his equity stake in the company. The filing shows beneficial ownership of 139,887 ordinary shares, held directly. This is a position-reporting document and does not indicate any recent share purchases or sales.
TH International Ltd director Temer Santelmo Thiago filed an initial ownership report on Form 3 for ticker THCH. The filing lists him as a director and shows no reported transactions or holdings, serving as a baseline disclosure of his status as a reporting person.
TH International Ltd director Paul Seungpyo Hong filed an initial Form 3, which is a statement of beneficial ownership for insiders. This filing establishes his reporting status as a director of TH International Ltd but does not report any purchases, sales, or other transactions.