TH International Reports Q4 2025 Earnings and Strategic Transition Progress
TH International reported total system sales of RMB 1.57 billion in 2025, up 7.6% year-over-year, driven by 25 net new store openings. However, Q4 total revenues declined 7.3% year-over-year due to pruning underperforming stores. The company is shifting toward made-to-order and food-led sales, with food sales rising to 33.4% of revenues.
Topics: earnings franchising margin improvement revenue growth store expansion store pruning