• TH International released its Q2 2026 earnings call transcript from Aug. 18, attended by CEO John Cheung, CFO Albert Li, Patty Yu.
• Q2 revenue RMB 273.4 million, down 21.7% year-over-year; system sales RMB 347.8 million, down 15.1%.
• Same-store sales fell 17.8% as transactions dropped 16.3%; management cited reduced delivery subsidies, underspent marketing, tighter discounting.
• Adjusted corporate EBITDA margin was -7.6% versus 0.6% a year earlier; company-owned store contribution margin slipped to 5.7%.
• Management flagged higher marketing spend from September; store growth to shift to a balanced company-owned and franchised mix, no targets given.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. TH International Ltd. published the original content used to generate this news brief on August 19, 2026, and is solely responsible for the information contained therein.