Tims China Files 2022 Annual Report on Form 20-F
April 28 2023 - 5:10PM
TH International Limited (“Tims China” (Nasdaq: THCH)), the
exclusive operator of Tim Hortons coffee shops and Popeyes
restaurants in China today announced that it had filed its Annual
Report on Form 20-F for the fiscal year ended December 31, 2022
with the U.S. Securities and Exchange Commission (the “SEC”).
The Annual Report on Form 20-F can be accessed
on the Company's investor relations website at ir.timschina.com and
on the SEC’s website at www.sec.gov.
FIRST QUARTER 2023 – SAME-STORE
SALES
Tims China also reported that in March 2023
same-store sales for company owned and operated stores grew by
19.4%, compared to March 2022. Combined with growth of -12.4% in
January and 17.1% in February, this performance yields a same-store
sales growth of 8.0% for the first quarter 2023.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. These forward-looking statements generally are
identified by the words “believe,” “project,” “expect,”
“anticipate,” “estimate,” “intend,” “strategy,” “future,”
“opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,”
“will continue,” “will likely result,” and similar expressions.
Without limiting the generality of the foregoing, the
forward-looking statements in this press release include
descriptions of the Company’s future commercial operations, such as
the continued expansion of its store network and growth of its
loyalty club members, and its ability to grow customer recognition,
brand awareness and loyalty, the potential benefits of the Popeyes
transaction, estimates of the Company’s future market share and
financial performance, and the Company’s business plans and
financial strategies. Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. Many factors could cause actual
future events to differ materially from the forward-looking
statements in this press release, such as the Company’s inability
to implement its business plans, identify and realize additional
opportunities, or meet or exceed its financial projections and
changes in the regulatory or competitive environment in which the
Company operates. You should carefully consider the foregoing
factors and the other risks and uncertainties described in the
Company’s Annual Report on Form 20-F and other documents filed or
to be filed by the Company with the SEC from time to time, which
could cause actual events and results to differ materially from
those contained in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements.
The Company cannot assure you that these forward-looking statements
will prove to be accurate and assumes no obligation and does not
intend to update or revise these forward-looking statements,
whether as a result of new information, future events or
otherwise.
ABOUT TH INTERNATIONAL
LIMITED
TH International Limited (Nasdaq: THCH) (“Tims
China”) is the parent company of the exclusive master franchisees
of Tim Hortons coffee shops in mainland China, Hong Kong, and Macau
and Popeyes restaurants in mainland China and Macau. Tims China was
founded by Cartesian Capital Group and Tim Hortons Restaurants
International, a subsidiary of Restaurant Brands International
(TSX: QSR) (NYSE: QSR).
The company’s philosophy is rooted in
world-class execution and data-driven decision making and centered
on true local relevance, continuous innovation, genuine community,
and absolute convenience. For more information, please visit
www.timhortons.com.cn.
INVESTOR AND MEDIA CONTACTS
Investor RelationsTims China
Investor Relations:IR@timschina.com
ICR, LLCTimsChinaIR@icrinc.com
Public RelationsICR,
LLCTimsChinaPR@icrinc.com
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