TH International Ltd. THCH

What this company does

THIL is the parent company of the master franchisee of, and holds the right to operate, Tim Hortons coffee shops in mainland China, Hong Kong and Macau. As of December 31, 2025, it had 1,047 stores across 92 cities in mainland China, of which 485 were franchised and 562 were company owned and operated. Its revenues were RMB1,316.2 million (US$188.2 million) in 2025. It deploys four complementary store formats: flagship stores, classic stores, "Tims Go" stores and "Tim Express" stores. Flagship "Golden Maple" stores, typically greater than 150 square meters, are situated in high-profile, high-traffic sites and offer an extended menu including classic coffee choices, specialty coffees, other beverages, sandwiches, wraps and baked goods. "Tims Go" stores, 20 to 80 square meters, are situated in convenient locations where a classic shop would not fit, such as an office lobby or a subway exit, with beverage-focused menus and grab-and-go food offerings. It was founded by affiliates of Cartesian and THRI.

Written from the business description in TH International Limited's annual report to the U.S. Securities and Exchange Commission, filed 30 April 2026. Every sentence was checked against that document before publication.