Tim Hortons China, the Chinese operation of the Canadian coffee chain, is expected to begin trading on Nasdaq on or around Sept. 29 under the symbol THCH, according to Chinese media outlet 36Kr. The SEC previously disclosed that the company will be listed on Nasdaq as a SPAC. Since entering the Chinese market in 2019, Tim Hortons China has completed four financing rounds, according to the enterprise database Qichacha. The database states that the company received a strategic investment of hundreds of millions of yuan from Tencent in May 2020. A year later, it announced the second round of financing led by Sequoia China and also involving Tencent. Tims China currently has more than 410 stores in 20 cities in China. Data disclosed by the company shows its revenue has been growing since 2019, but its overall net loss has also been expanding. [36Kr, in Chinese]
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