TH International Limited (Nasdaq: THCH), the parent company of the exclusive master franchisee for Tim Hortons coffee shops in mainland China, Hong Kong and Macau, operates quick-service restaurants offering freshly brewed coffee, tea and other beverages including milk tea, lemonade and hot chocolate; bakery items and sides such as donuts, cakes, breakfast bagels, croissants and toast; and sandwiches; with a growing emphasis on localized food innovations like bagel sandwiches and limited-edition flavors such as Oreo-infused iced caps and lattes to appeal to Chinese consumers. Founded in 2018 by Cartesian Capital Group and Restaurant Brands International and headquartered at 2501 Central Plaza, 227 Huangpi North Road in Shanghai, China, the company reported 1,015 stores across 90 cities and 26.19 million loyalty club members as of June 2025, focusing on data-driven expansion into underpenetrated markets through company-owned and franchised locations while deriving revenue primarily from the People's Republic of China. Recent developments include a December 2025 partnership with Tencent's CarbonXmade to launch eco-friendly straws produced from captured CO2; a definitive agreement in October 2025 to issue approximately US$89.9 million in senior secured convertible notes maturing September 2029, secured by company assets and partially funding the repurchase of 2026 notes, alongside maturity extensions and conversion price alignments for existing notes from THRI and Cartesian Capital Group; a net closure of nine stores in Q2 2025 amid 40 new mobile takeaway openings offset by closures, with system sales up 1.4% year-over-year to RMB409.5 million and food comprising a record 35.2% of sales; and Restaurant Brands International's early 2025 acquisition of Popeyes China for $15 million plus up to $45 million total investment to bolster growth in the region.