TH International CFO Li Dong files Form 3

TH International Ltd CFO Li Dong filed an initial ownership report showing existing equity interests in the company.

Rhea-AI Filing Summary

TH International Ltd CFO Li Dong filed an initial ownership report showing existing equity interests in the company. The filing lists direct holdings of 1,000 Ordinary Shares and several option awards under the Employee Stock Option Plan with different exercise prices and long-dated expirations.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Li Dong

Role CFO

Type	Security	Shares	Price	Value
holding	Ordinary Shares	--	--	--
holding	Ordinary Shares	--	--	--
holding	Ordinary Shares	--	--	--
holding	Ordinary Shares	--	--	--

Holdings After Transaction: Ordinary Shares — 156,300 contracts (Direct); Ordinary Shares — 1,000 shares (Direct)

Key Figures

Options at $2.7822: 115,880 shares underlying Options at $0.0500: 40,000 shares underlying Options at $0.0000: 420 shares underlying +1 more

4 metrics

Options at $2.7822 115,880 shares underlying Exercise price $2.7822; expiration September 6, 2031

Options at $0.0500 40,000 shares underlying Exercise price $0.0500; expiration June 5, 2033

Options at $0.0000 420 shares underlying Exercise price $0.0000; expiration February 1, 2032

Direct Ordinary Shares 1,000 shares Directly held Ordinary Shares reported on Form 3

Key Terms

Ordinary Shares, Employee Stock Option Plan, exercise price

3 terms

Ordinary Shares financial

"security_title: "Ordinary Shares" in multiple holding entries"

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

Employee Stock Option Plan financial

"underlying_security_title: "Employee Stock Option Plan" for option awards"

exercise price financial

"conversion_or_exercise_price values such as "2.7822" and "0.0500""

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does TH International (THCH) CFO Li Dong report on this Form 3?

CFO Li Dong reports current equity holdings, including 1,000 Ordinary Shares and multiple option awards under the Employee Stock Option Plan. This Form 3 is an initial ownership statement, not a report of recent share purchases or sales.

How many options does TH International (THCH) CFO Li Dong hold at a $2.7822 exercise price?

Li Dong holds options linked to 115,880 Ordinary Shares with an exercise price of $2.7822. These options are part of the Employee Stock Option Plan and are scheduled to expire on September 6, 2031, if not exercised earlier under the plan’s terms.

What low-priced options does TH International (THCH) CFO Li Dong report?

The filing shows options tied to 40,000 Ordinary Shares with an exercise price of $0.0500. These options were granted under the Employee Stock Option Plan and have an expiration date of June 5, 2033, providing a long time window for potential exercise.

Does TH International (THCH) CFO Li Dong hold any zero-exercise-price options?

Yes. Li Dong reports options over 420 Ordinary Shares with an exercise price of $0.0000. These were granted under the Employee Stock Option Plan and are scheduled to expire on February 1, 2032, according to the ownership data in the filing.

Are there any recent buy or sell transactions in this TH International (THCH) Form 3?

The Form 3 presents Li Dong’s existing positions, including shares and options, and classifies the entries as holdings. The transaction summary shows no buy or sell counts, indicating it is an initial ownership snapshot rather than a trading activity report.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/30/2026 - 09:58 PM EDT Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Li Dong

(Last) (First) (Middle)

FLAT A, 56/F, TOWER 1A, GRAND MONTARA

1 LOHAS PARK ROAD

(Street)

TSEUNG KWAN O NEW TERRITORIES 00000

(City) (State) (Zip)

HONG KONG

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/30/2026

3. Issuer Name and Ticker or Trading Symbol
TH International Ltd [ THCH ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CFO

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Ordinary Shares	1,000	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Ordinary Shares	09/06/2023	09/06/2031	Employee Stock Option Plan	115,880	$2.7822	D
Ordinary Shares	06/05/2024	06/05/2033	Employee Stock Option Plan	40,000	$0.05	D
Ordinary Shares	02/01/2022	02/01/2032	Employee Stock Option Plan	420	$0	D

Explanation of Responses:

	DONG LI	03/30/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)