TH International Limited (THCH)

NASDAQ: THCH · Real-Time Price · USD

1.245

+0.095 (8.26%)

At close: Aug 25, 2026, 4:00 PM EDT

1.260

+0.015 (1.20%)

After-hours: Aug 25, 2026, 6:11 PM EDT

TH International Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	107.83	121.79	152.37	202.31	239.08	390.84
Short-Term Investments	-	12.87	9	23.41	375.84	4.16
Cash & Short-Term Investments	107.83	134.67	161.37	225.72	614.92	395
Cash Growth	-30.53%	-16.55%	-28.51%	-63.29%	55.68%	119.01%
Accounts Receivable	12.21	17.69	30.53	27.56	5.62	9.82
Other Receivables	-	111.86	140.22	130.54	79.88	67.91
Receivables	12.21	129.56	170.75	158.1	85.5	77.73
Inventory	32.94	36.79	37.58	49.87	71.47	42.48
Prepaid Expenses	128.81	5.65	5.37	5.8	11.58	29.94
Restricted Cash	13.22	7.92	31.87	-	-	-
Other Current Assets	-	12.04	10.14	19.13	13.34	40.82
Total Current Assets	295.02	326.63	417.08	458.62	796.81	585.97
Property, Plant & Equipment	555.66	680.99	995.47	1,451	1,667	554.02
Other Intangible Assets	72.77	81.01	97.02	110.97	96.02	77.59
Other Long-Term Assets	104.19	88.05	53.97	194.42	82.27	67.31
Total Assets	1,028	1,177	1,564	2,215	2,642	1,285

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Accounts Payable	180.9	204.59	244.82	223.81	115.36	68.16
Accrued Expenses	-	101.18	88.02	129.76	149.37	94.98
Short-Term Debt	448.38	395.09	376	527.37	386.82	188.96
Current Portion of Long-Term Debt	-	-	478.98	10.86	20.99	3.1
Current Portion of Leases	169.24	180.81	178.12	189.83	180.47	-
Current Income Taxes Payable	-	15.32	10.44	10.93	6.71	2.33
Current Unearned Revenue	33.23	37.2	39.68	40.71	22.12	14.13
Other Current Liabilities	227.39	68.09	119.89	262.55	436.42	195.63
Total Current Liabilities	1,059	1,002	1,536	1,396	1,318	567.29
Long-Term Debt	1,184	1,153	464.85	425.98	362.88	330.37
Long-Term Leases	175.9	240.28	380.08	653.66	820.25	-
Long-Term Unearned Revenue	8.37	10.13	8.02	5.27	3.31	0.97
Other Long-Term Liabilities	7.15	7.71	7.67	157.13	27	47.17
Total Liabilities	2,434	2,413	2,397	2,638	2,532	945.8

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Common Stock	0.01	0.01	0.01	0.01	0.01	0.01
Additional Paid-In Capital	1,824	1,822	1,818	1,808	1,472	937.32
Retained Earnings	-3,310	-3,103	-2,669	-2,256	-1,380	-637.53
Comprehensive Income & Other	72.62	38.39	9.18	21.49	17	35.74
Total Common Equity	-1,414	-1,243	-840.89	-427.21	108.85	335.54
Minority Interest	7.2	6.55	7.87	4.78	1.45	3.56
Shareholders' Equity	-1,407	-1,236	-833.02	-422.43	110.3	339.1
Total Liabilities & Equity	1,028	1,177	1,564	2,215	2,642	1,285

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Total Debt	1,977	1,969	1,878	1,808	1,771	522.42
Net Cash (Debt)	-1,869	-1,834	-1,717	-1,582	-1,156	-127.43
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-57.51	-56.40	-52.91	-51.30	-45.14	-5.24
Filing Date Shares Outstanding	32.52	32.04	32.01	31.65	28.19	0.02
Total Common Shares Outstanding	32.52	32.04	32.01	31.65	28.19	0.02
Working Capital	-764.12	-675.64	-1,119	-937.21	-521.45	18.68
Book Value Per Share	-43.48	-38.80	-26.27	-13.50	3.86	14377.34
Tangible Book Value	-1,487	-1,324	-937.91	-538.17	12.83	257.94
Tangible Book Value Per Share	-45.72	-41.33	-29.30	-17.00	0.46	11052.56
Machinery	-	272.04	298.67	313.77	257.23	196.04
Construction In Progress	-	0.1	1.32	6	22.97	15.75
Leasehold Improvements	-	550.22	591.98	661.83	602.79	408.35

SEC Filings: 10-K · 10-Q