← TH International Ltd
| Annual Trend | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | $390.8m | $239.1m | $203.6m | $152.4m | $121.8m | |
| Accounts receivable, net | $9.8m | $5.6m | $27.6m | $30.5m | $17.7m | |
| Inventories | $42.5m | $71.5m | $50.7m | $37.6m | $36.8m | |
| Prepaid expenses and other current assets | $142.8m | $108.3m | $159.6m | $158.9m | $142.2m | |
| Total current assets | $586.0m | $796.8m | $458.6m | $417.1m | $326.6m | |
| Property and equipment, net | $554.0m | $720.0m | $691.9m | $502.2m | $332.1m | |
| Intangible assets, net | $77.6m | $96.0m | $147.4m | $97.0m | $81.0m | |
| Operating lease right-of-use assets | — | $946.9m | $849.1m | $493.3m | $348.9m | |
| Restricted cash | — | — | — | $31.9m | $7.9m | |
| Amount due from related parties | — | — | — | $5.9m | $195k | |
| Other non-current assets | $67.3m | $82.3m | $68.4m | $54.0m | $88.1m | |
| Bank borrowings, current | $192.1m | $407.8m | $538.2m | $381.3m | $395.1m | |
| Contract liabilities | $970k | $3.3m | $5.3m | $8.0m | $10.1m | |
| Amount due to related parties | $14.1m | $22.5m | $94.2m | $48.1m | $17.4m | |
| Convertible notes, at fair value, current | — | — | — | $473.7m | — | |
| Operating lease liabilities | — | $820.2m | $707.7m | $380.1m | $240.3m | |
| Other current liabilities | $286.1m | $310.5m | $338.2m | $191.2m | $172.6m | |
| Convertible notes, at fair value, non-current | $318.5m | $354.1m | $420.7m | $464.8m | $1.2b | |
| Other non-current liabilities | $47.2m | $7.9m | $8.9m | $7.7m | $7.7m | |
| Ordinary shares, value | $7k | $9k | $10k | $10k | $10k | |
| Accumulated losses | ($637.5m) | ($1.4b) | ($2.3b) | ($2.7b) | ($3.1b) | |
| Non-controlling interests | $3.6m | $1.5m | $4.8m | $7.9m | $6.6m | |
| Total non-current assets | $698.9m | $1.8b | $1.8b | $1.1b | $850.1m | |
| Total non-current liabilities | $378.5m | $1.2b | $1.2b | $860.6m | $1.4b | |
| Total deficit attributable to shareholders of the Company | $335.5m | $108.9m | ($427.2m) | ($840.9m) | ($1.2b) | |
| Total shareholders’ deficit | $339.1m | $110.3m | ($422.4m) | ($833.0m) | ($1.2b) | |
| Total assets | $1.3b | $2.6b | $2.2b | $1.6b | $1.2b | |
| Accounts payable | $61.0m | $105.7m | $224.8m | $223.8m | $199.2m | |
| Total current liabilities | $567.3m | $1.3b | $1.4b | $1.5b | $1.0b | |
| Total liabilities | $945.8m | $2.5b | $2.6b | $2.4b | $2.4b | |
| Total liabilities and shareholders’ deficit | $1.3b | $2.6b | $2.2b | $1.6b | $1.2b | |
| Additional paid-in capital | $937.3m | $1.5b | $1.8b | $1.8b | $1.8b | |
| Accumulated other comprehensive income | $35.7m | $17.0m | $21.5m | $9.2m | $38.4m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.