The following is a summary of the TH International Limited (THCH) Q4 2023 Earnings Call Transcript:

Financial Performance:

• TH International reported a 29.8% growth in Q4 revenue and 55.9% over the full year, 2023.

• An improvement in profitability was observed, with reductions in rental and labor costs.

• The company's cash and other liquid assets amount to RMB220.8 million, a dip from the RMB611.5 million reported in the previous year.

• There was significant growth in product sales, with around 60 million cups of beverages and over 21 million Bagel products sold during the year.

Business Progress:

• TH International expanded its store network rapidly, achieving success in new cities and forming partnerships that led to the opening of 213 franchised stores.

• The company pursued product innovation, launching 147 new products.

• A strategy for increasing store density is in place, with a focus on cities where they are already operating.

• TH International is aiming for operational cash flow self-sufficiency and corporate EBITDA breakeven by 2024.

• The strategy for 2024 includes leveraging its 20 million club members to introduce a new brand and open around 500 franchised outlets.

• To enhance efficiency and customer experience, they introduced a mobile-optimized table service system at their Popeyes locations.

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