$THCH Income Statement | Understand Stock

$THCH

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated Statements of Operations

In millions of CNY, except per-share amounts

	FY2025 12 months to Dec 31, 2025	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022
Revenues
Company Owned And Operated Stores
Other Revenues
Total revenues
Costs and expenses, net
Food and packaging (including cost of Company owned and operated stores from transactions with a related party of RMB36,862,860, RMB19,521,561 and RMB8,864,342 for the years ended December 31, 2022, 2021 and 2020, respectively)
Food and packaging (including cost of Company owned and operated stores from transactions with a related party of RMB30,743,744, RMB53,208,876 and RMB72,109,353 for the years ended December 31, 2025, 2024 and 2023, respectively)
Store rental expenses
Company Owned And Operated Stores
Total store rental expenses

Payroll and employee benefits
Delivery costs
Company Owned And Operated Stores
Total delivery costs

Other operating expenses (including service fee from transactions with a related party of RMB600,000, RMB600,000 and RMB600,000 for the years ended December 31, 2025, 2024 and 2023, respectively)
Store depreciation and amortization
Company owned and operated store costs and expenses

Costs of other revenues
Marketing expenses
General and administrative expenses
Franchise and royalty expenses (including franchise and royalty expenses from transactions with a related party of RMB31,882,569, RMB15,576,324 and RMB5,147,252 for the years ended December 31, 2022, 2021 and 2020, respectively)
Franchise and royalty expenses (including franchise and royalty expenses from transactions with a related party of RMB49,935,665, RMB47,477,864 and RMB51,697,551 for the years ended December 31, 2025, 2024 and 2023, respectively)
Other operating costs and expenses
Company Owned And Operated Stores
Total other operating costs and expenses

Store depreciation and amortization
Company owned and operated store costs and expenses
Company Owned And Operated Stores
Total company owned and operated store costs and expenses

Loss on disposal of property and equipment
Impairment losses of long-lived assets
Other income
Total costs and expenses, net
Operating loss from continuing operations
Interest income
Interest expenses
Foreign currency transaction (loss)/gain
Loss of debt extinguishment
Changes in fair value of Deferred Contingent Consideration
Changes in fair value of convertible notes
Changes in fair value of warrant liabilities
Changes in fair value of ESA derivative liabilities
Loss from continuing operations before income taxes
Income tax expenses
Net loss from continuing operations
Less: Net (loss)/income from continuing operations attributable to non-controlling interests
Net loss from continuing operations attributable to shareholders of the Company
Net income/(loss) from discontinued operations attributable to shareholders of the Company
Net loss attributable to shareholders of the Company
Basic and diluted loss per ordinary share (in Yuan Renminbi per share)
Diluted loss per ordinary share (in Yuan Renminbi per share)
Discontinued operations:
Net income/(loss) from discontinued operations
Net loss
Less: Net (income) loss attributable to non-controlling interests

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