{"id":951099,"date":"2026-04-14T07:43:49","date_gmt":"2026-04-14T11:43:49","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\/"},"modified":"2026-04-14T07:43:49","modified_gmt":"2026-04-14T11:43:49","slug":"tims-china-announces-fourth-quarter-and-full-year-2025-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\/","title":{"rendered":"Tims China Announces Fourth Quarter and Full Year 2025 Financial Results"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">\n        <em>System Sales Increased 4.0% Year-over-Year to RMB359.4 Million<\/em>\n      <\/p>\n<p align=\"center\">\n        <em>17 Net New Store Openings During the Fourth Quarter,<\/em><br \/>\n        <br \/>\n        <em>1,047 System-Wide Stores at Year-End 2025<\/em>\n      <\/p>\n<p align=\"center\">\n        <em>31.0 Million Registered Loyalty Club Members at Year-End,<\/em><br \/>\n        <br \/>\n        <em>Representing 29.0% Year-over-Year Growth<\/em>\n      <\/p>\n<p align=\"justify\">SHANGHAI and NEW YORK, April  14, 2026  (GLOBE NEWSWIRE) &#8212; TH International Limited (Nasdaq: THCH), the exclusive operator of Tim Hortons coffee shops in China (\u201cTims China\u201d or the \u201cCompany\u201d), today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2025.<\/p>\n<p align=\"justify\">\n        <strong>FOURTH QUARTER 2025 HIGHLIGHTS<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">\n          <strong>Total revenues<\/strong>\u00a0of\u00a0RMB308.5 million\u00a0(USD44.1 million), representing a\u00a07.3% decrease\u00a0from the same quarter of 2024.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">\n          <strong>System sales<\/strong><br \/>\n          <sup>1<\/sup> of RMB359.4 million (USD51.4 million), representing a 4.0% increase from the same quarter of 2024.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">\n          <strong>Net new store openings<\/strong> totaled 17 (a net openings of 40 made-to-order (\u201cMTO\u201d) stores and a net closure of 23 non-MTO stores, of which 13 were Tims Express stores).<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">\n          <strong>Company owned and operated store contribution<\/strong><br \/>\n          <sup>2<\/sup>, previously reported as adjusted store EBITDA, was RMB9.2 million (USD1.3 million), compared to RMB13.0 million in the same quarter of 2024.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">\n          <strong>Company owned and operated store contribution margin<\/strong><br \/>\n          <sup>3<\/sup>, previously reported as adjusted store EBITDA margin, was 3.7%, compared to 4.8% in the same quarter of 2024.<\/li>\n<\/ul>\n<p align=\"justify\">_________________________<br \/><sub><sup>1<\/sup> System sales is calculated as the gross merchandise value of sales generated from both company owned and operated stores and franchised stores.<\/sub><br \/><sub><sup>2<\/sup> Company owned and operated store contribution is calculated as fully burdened gross profit<sup>4<\/sup> of company owned and operated stores excluding depreciation &amp; amortization. <\/sub><br \/><sub><sup>3<\/sup> Company owned and operated store contribution margin is calculated as company owned and operated store contribution as a percentage of revenues from company owned and operated stores.<\/sub><br \/><sub><sup>4<\/sup> Fully burdened gross profit of company owned and operated stores, the most directly comparable GAAP measure to company owned and operated store contribution, was a loss of RMB17.0 million (USD2.4 million) for the three months ended December 31, 2025, compared to a loss of RMB23.1 million in the same quarter of 2024.<\/sub><\/p>\n<p align=\"justify\">\n        <strong>FULL YEAR 2025 HIGHLIGHTS<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">\n          <strong>Total revenues<\/strong>\u00a0were RMB1,316.2 million\u00a0(USD188.2 million), representing a\u00a05.4% decrease\u00a0from 2024.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">\n          <strong>Net new store openings <\/strong>totaled 25 (a net openings of 138 made-to-order (\u201cMTO\u201d) stores and a net closure of 113 non-MTO stores, of which 64 were Tims Express stores).<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">\n          <strong>Registered loyalty club members<\/strong> totaled 31.0 million members as of December 31, 2025, representing a 29.0% growth from 2024.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>COMPANY MANAGEMENT STATEMENT<\/strong>\n      <\/p>\n<p align=\"justify\">Mr. Yongchen Lu, CEO &amp; Director of Tims China, stated, \u201cIn the fourth quarter, we achieved positive net new store openings and continued our strong momentum in system sales, achieving a 4.0% year-over-year growth. 2025 marked a critical transition year for the Company. We further solidified our differentiated strategic positioning in \u2018Coffee + Freshly Prepared Food,\u2019 completed made-to-order renovations at almost all system-wide stores, surpassed 31 million registered loyalty club members, and received over 10,000 individual sub-franchisee applications by year-end. In the meantime, our sub-franchise businesses maintained steady contribution to cash flows and profitability. Profits from other revenues achieved a year-over-year growth of 55.7% in 2025.\u201d<\/p>\n<p align=\"justify\">Mr. Dong (Albert) Li, CFO of Tims China, commented, \u201cAmidst macroeconomic volatility and intensive market competition, our team demonstrated strong resilience and achieved profitability improvements through enhanced operational efficiencies, supply chain optimizations, and rigorous cost controls. In 2025, our full-year adjusted corporate EBITDA margin improved by 1.0 percentage point year-over-year. Specifically, for the full year of 2025, food and packaging costs, labor costs, other store operating expenses (each as a percentage of revenues from company owned and operated stores), and adjusted general and administrative expenses as a percentage of total revenues decreased by 1.4 percentage points, 0.8 percentage points, 0.1 percentage points, and 0.7 percentage points, respectively.\u201d<\/p>\n<p align=\"justify\">\n        <strong>FOURTH QUARTER 2025 FINANCIAL RESULTS<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <strong>Total revenues<\/strong> were RMB308.5 million (USD44.1 million) for the three months ended December 31, 2025, representing a decrease of 7.3% from RMB332.6 million in the same quarter of 2024. Total revenues comprise:<\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">\n          <strong><br \/>\n            <em>Revenues from Company owned and operated stores<\/em><br \/>\n          <\/strong> were RMB248.7 million (USD35.6 million) for the three months ended December 31, 2025, representing a decrease of 8.0% from RMB270.2 million in the same quarter of 2024. The decrease was primarily attributable to closures of certain underperforming stores and a 1.4% decline in same-store sales growth for company owned and operated stores in the fourth quarter of 2025. The decrease was also attributable to an 8.4% year-over-year decrease in average ticket size, partially offset by a 3.0% increase in the number of orders from 9.5 million in the fourth quarter of 2024 to 9.8 million in the same quarter of 2025.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">\n          <strong><br \/>\n            <em>Other revenues<\/em><br \/>\n          <\/strong> were RMB59.8 million (USD8.6 million) for the three months ended December 31, 2025, representing a decrease of 4.3% from RMB62.5 million in the same quarter of 2024. The decrease was primarily due to less franchised stores were opened in the fourth quarter of 2025 compared to that in the same quarter of 2024.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>Company owned and operated store costs and expenses<\/strong> were RMB257.3 million (USD36.8 million) for the three months ended December 31, 2025, representing a decrease of 9.4% from RMB283.9 million in the same quarter of 2024. Company owned and operated store costs and expenses comprise:<\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">\n          <strong><br \/>\n            <em>Food and packaging costs<\/em><br \/>\n          <\/strong> were RMB73.1 million (USD10.5 million) for the three months ended December 31, 2025, representing a decrease of 13.8% from RMB84.8 million in the same quarter of 2024, which was in line with the revenue trend. As we continued to benefit from higher efficiencies in supply chains and cost reduction on raw materials, logistic and warehousing expenses, food and packaging costs as a percentage of revenues from company owned and operated stores decreased by 2.0 percentage points from 31.4% in the fourth quarter of 2024 to 29.4% in the same quarter of 2025.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">\n          <strong><br \/>\n            <em>Rental and property management fees<\/em><br \/>\n          <\/strong> were RMB52.6 million (USD7.5 million) for the three months ended December 31, 2025, representing a decrease of 7.4% from RMB56.9 million in the same quarter of 2024, which was in line with the revenue trend as the number of our company-owned and operated stores decreased from 576 as of December 31, 2024 to 562 as of December 31, 2025. Rental and property management fees as a percentage of revenues from company owned and operated stores increased slightly by 0.2 percentage points from 21.0% in the fourth quarter of 2024 to 21.2% in the same quarter of 2025.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">\n          <strong><br \/>\n            <em>Payroll and employee benefits expenses<\/em><br \/>\n          <\/strong> were RMB50.6 million (USD7.2 million) for the three months ended December 31, 2025, representing a decrease of 7.9% from RMB54.9 million in the same quarter of 2024, which was in line with the revenue trend. Payroll and employee benefits expenses as a percentage of revenues from company owned and operated stores remained stable at 20.3% in both the fourth quarter of 2024 and 2025.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">\n          <strong><br \/>\n            <em>Delivery costs<\/em><br \/>\n          <\/strong> were RMB33.0 million (USD4.7 million) for the three months ended December 31, 2025, representing an increase of 15.5% from RMB28.6 million in the same quarter of 2024, which was in line with the 29.2% increase in delivery orders from 4.8 million in the fourth quarter of 2024 to 6.2 million in the same quarter of 2025. Delivery costs as a percentage of revenues from company owned and operated stores increased by 2.7 percentage points to 13.3% in the fourth quarter of 2025, compared to 10.6% in the same quarter of 2024, which was primarily due to delivery revenue as a percentage of revenues from company owned and operated stores increased from 51.8% in Q4 2024 to 65.6% in Q4 2025.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">\n          <strong><br \/>\n            <em>Other operating expenses<\/em><br \/>\n          <\/strong> were RMB21.7 million (USD3.1 million) for the three months ended December 31, 2025, representing a decrease of 4.4% from RMB22.7 million in the same quarter of 2024, which was in line with the revenue trend. Other operating expenses as a percentage of revenues from company owned and operated stores increased by 0.3 percentage points to 8.7% in the fourth quarter of 2025, compared to 8.4% in the same quarter of 2024.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">\n          <strong><br \/>\n            <em>Store depreciation and amortization expenses<\/em><br \/>\n          <\/strong> were RMB26.2 million (USD3.7 million) for the three months ended December 31, 2025, representing a decrease of 27.3% from RMB36.1 million in the same quarter of 2024, which was primarily due to impairment on property and equipment in relation to company owned and operated store closures and the reduced capital expenditures per store as a result of our initiatives to improve store unit economics. Store depreciation and amortization as a percentage of revenues from company owned and operated stores decreased by 2.9 percentage points to 10.5% in the fourth quarter of 2025, compared to 13.4% in the same quarter of 2024.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>Costs of other revenues<\/strong> were RMB41.5 million (USD5.9 million) for the three months ended December 31, 2025, representing a decrease of 14.4% from RMB48.5 million in the same quarter of 2024, which was in line with the revenue trend. Costs of other revenues as a percentage of other revenues decreased by 8.3 percentage points from 77.7% in the fourth quarter of 2024 to 69.4% in the same quarter of 2025 due to higher margin we generated from franchise business during the fourth quarter of 2025.<\/p>\n<p align=\"justify\">\n        <strong>Marketing expenses<\/strong> were RMB16.3 million (USD2.3 million) for the three months ended December 31, 2025, representing an increase of 18.4% from RMB13.8 million in the same quarter of 2024, as we expanded our branding initiatives and promotional offers. Accordingly, marketing expenses as a percentage of total revenues increased by 1.2 percentage points from 4.1% in the fourth quarter of 2024 to 5.3% in the same quarter of 2025.<\/p>\n<p align=\"justify\">\n        <strong>General and administrative expenses<\/strong> were RMB63.0 million (USD9.0 million) for the three months ended December 31, 2025, representing a decrease of 17.4% from RMB76.3 million in the same quarter of 2024, which was primarily due to a RMB9.7 million (USD1.4 million) decrease in credit loss of account receivables. As a result of the foregoing,<strong> adjusted general and administrative expenses<\/strong>, which excludes: (i) share-based compensation expenses of RMB0.4 million (USD0.1 million), (ii) professional fees related to financing programs of RMB15.2 million (USD2.2 million); and (iii) reversal of impairment losses of rental deposits of RMB1.2 million (USD0.2 million), were RMB48.6 million (USD7.0 million), representing a decrease of 36.9% from RMB77.1 million in the same quarter of 2024. Adjusted general and administrative expenses as a percentage of total revenues decreased by 7.4 percentage points from 23.2% in the fourth quarter of 2024 to 15.8% in the same quarter of 2025. For more information on the Company\u2019s non-GAAP financial measures, please see \u201cUse of Non-GAAP Financial Measures\u201d and \u201cReconciliation of Non-GAAP Measures to the Most Directly Comparable GAAP Measures\u201d set forth at the end of this earnings release.<\/p>\n<p align=\"justify\">\n        <strong>Franchise and royalty expenses<\/strong> were RMB15.4 million (USD2.2 million) for the three months ended December 31, 2025, representing an increase of 10.3% from RMB14.0 million in the same quarter of 2024, which was primarily due to an increase in the number of systemwide stores from 1,022 as of December 31, 2024 to 1,047 as of December 31, 2025 and a higher royalty rate applicable. Accordingly, franchise and royalty expenses as a percentage of total revenues increased by 0.8 percentage points, from 4.2% in the fourth quarter of 2024 to 5.0% in the same quarter of 2025.<\/p>\n<p align=\"justify\">\n        <strong>Impairment losses of long-lived assets <\/strong>were RMB31.2 million (USD4.5 million) for the three months ended December 31, 2025, compared to RMB15.9 million in the same quarter of 2024, which was primarily due to an increase in the number of planned closures of underperforming company owned and operated stores.<\/p>\n<p align=\"justify\">As a result of the foregoing, <strong>operating loss<\/strong> was RMB118.6 million (USD17.0 million) for the three months ended December 31, 2025, compared to RMB117.2 million in the same quarter of 2024.<\/p>\n<p align=\"justify\">\n        <strong>Adjusted Corporate EBITDA<\/strong> was a loss of RMB35.4 million (USD5.1 million) for the three months ended December 31, 2025, compared to a loss of RMB49.4 million in the same quarter of 2024. <strong>Adjusted Corporate EBITDA margin <\/strong>was negative 11.6% in the fourth quarter of 2025, compared to negative 14.9% in the same quarter of 2024.<\/p>\n<p align=\"justify\">\n        <strong>Net loss from continuing operations<\/strong> was RMB227.2 million (USD32.5 million) for the three months ended December 31, 2025, compared to RMB138.9 million for the same quarter of 2024. <strong>Adjusted net loss<\/strong> was RMB75.7 million (USD10.8 million) for the three months ended December 31, 2025, compared to RMB98.0 million for the same quarter of 2024. <strong>Adjusted net loss margin<\/strong> was negative 24.7% in the fourth quarter of 2025, compared to negative 29.5% in the same quarter of 2024.<\/p>\n<p align=\"justify\">\n        <strong>Net loss<\/strong> was RMB227.2 million (USD32.5 million) for the three months ended December 31, 2025, compared to RMB132.4 million for the same quarter of 2024.<\/p>\n<p align=\"justify\">\n        <strong>Basic and diluted loss per ordinary share<\/strong> was RMB7.01 (USD1.00) in the fourth quarter of 2025, compared to RMB4.05 in the same quarter of 2024. <strong>Adjusted basic and diluted net loss per ordinary share <\/strong>was RMB2.36 (USD0.34) in the fourth quarter of 2025, compared to RMB2.99 in the same quarter of 2024.<\/p>\n<p align=\"justify\">\n        <strong>Liquidity<\/strong>\n      <\/p>\n<p align=\"justify\">As of December 31, 2025, the Company\u2019s total cash and cash equivalents, restricted cash and time deposits were RMB129.7 million (USD18.5 million), compared to RMB184.2 million as of December 31, 2024. The change was primarily attributable to cash disbursements on the back of the expansion of our business, partially offset by the draw-down of additional bank borrowings.<\/p>\n<p align=\"justify\">\n        <strong>KEY OPERATING DATA<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Tims only<\/td>\n<td colspan=\"17\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">For the three months ended or as of<\/td>\n<\/tr>\n<tr>\n<td rowspan=\"2\" style=\"text-align: center;vertical-align: middle\">\uff08Exclude the discontinued business)<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Sep 30,<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Dec 31,<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Mar 31,<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Jun 30,<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Sep 30,<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Dec 31,<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">2024<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">2024<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">2025<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">2025<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">2025<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">2025<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:41%;width:41%;min-width:41%;text-align: left;vertical-align: middle;vertical-align: bottom\">Total stores<\/td>\n<td style=\"max-width:7%;width:7%;min-width:7%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">946<\/td>\n<td style=\"max-width:2%;width:2%;min-width:2%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:7%;width:7%;min-width:7%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,022<\/td>\n<td style=\"max-width:2%;width:2%;min-width:2%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:7%;width:7%;min-width:7%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,024<\/td>\n<td style=\"max-width:2%;width:2%;min-width:2%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:7%;width:7%;min-width:7%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,015<\/td>\n<td style=\"max-width:2%;width:2%;min-width:2%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:7%;width:7%;min-width:7%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,030<\/td>\n<td style=\"max-width:2%;width:2%;min-width:2%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:7%;width:7%;min-width:7%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,047<\/td>\n<td style=\"max-width:2%;width:2%;min-width:2%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Company owned and operated stores<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">564<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">576<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">569<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">566<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">551<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">562<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Franchised stores<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">382<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">446<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">455<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">449<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">479<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">485<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Made to order (MTO) stores<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">485<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">632<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">652<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">692<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">730<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">770<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Non-MTO stores<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">461<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">390<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">372<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">323<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">300<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">277<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Same-store sales growth for system-wide stores<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">-21.7<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">-13.3<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">-7.8<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">-4.8<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1.3<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">-2.4<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Same-store sales growth for company owned and operated stores<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">-20.7<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">-12.3<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">-6.5<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">-3.6<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3.3<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">-1.4<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Registered loyalty club members (in thousands)<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">22,815<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">24,045<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">25,150<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">26,192<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">27,900<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">31,021<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Company owned and operated store contribution (Renminbi in thousands)<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">39,922<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">12,973<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">17,154<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">27,176<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">21,786<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">9,164<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Company owned and operated store contribution margin<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">13.3<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">4.8<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">6.7<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">9.6<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">7.7<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3.7<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <strong>KEY DEFINITIONS<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Same-store sales growth. The percentage change in the sales of stores that have been operating for 12 months or longer during a certain period compared to the same period from the prior year. The same-store sales growth for any period of more than a month equals to the arithmetic average of the same-store sales growth of each month covered in the period. If a store was closed for seven days or more during any given month, its sales during that month and the same month in the comparison period are excluded for purposes of measuring same-store sales growth.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Net new store openings.\u00a0The gross number of new stores opened during the period minus the number of stores permanently closed during the period.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">System sales.\u00a0Gross merchandise value of sales generated from both company owned and operated stores and franchised stores.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Company owned and operated store contribution (previously reported as adjusted store EBITDA). Calculated as fully burdened gross profit of company owned and operated stores excluding depreciation and amortization.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Company owned and operated store contribution margin (previously reported as adjusted store EBITDA margin). Calculated as company owned and operated store contribution as a percentage of revenues from company owned and operated stores.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Adjusted general and administrative expenses. Calculated as general and administrative expenses excluding share-based compensation expenses, expenses related to the issuance of certain ordinary shares to CF Principal Investments LLC in November 2022 (the \u201cCommitment Shares\u201d), offering costs related to the ESA (the \u201cESA Offering Costs\u201d), expenses related to 200,000 of our ordinary shares that may be purchased from our controlling shareholder by a holder of our convertible notes at its option pursuant to the terms of an Option Agreement dated September 28, 2022 (the \u201cOption Shares\u201d), professional fees related to warrant exchange and other financing programs, and impairment losses of rental deposits.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Adjusted corporate EBITDA. Calculated as operating loss for continuing operations excluding certain non-cash expenses consisting of depreciation and amortization, share-based compensation expenses, impairment losses of long-lived assets, loss on disposal of property and equipment, expenses related to the Commitment Shares, the ESA Offering Costs, the Option Shares, professional fees related to warrant exchange and other financing programs<strong>, <\/strong>and impairment losses of rental deposits<strong>.<\/strong><\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Adjusted corporate EBITDA margin. Calculated as adjusted corporate EBITDA as a percentage of total revenues.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Adjusted net loss. Calculated as net loss for continuing operations excluding share-based compensation expenses, impairment losses of long-lived assets, loss on disposal of property and equipment, expenses related to the Commitment Shares, the ESA Offering Costs, the Option Shares, professional fees related to warrant exchange and other financing programs, impairment losses of rental deposits, changes in fair value of convertible notes, changes in fair value of warrant liabilities, changes in fair value of ESA derivative liabilities, loss of the debt extinguishment and gain on disposal of Popeyes business.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Adjusted net loss margin. Calculated as adjusted net loss as a percentage of total revenues.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Adjusted basic and diluted net loss per ordinary share. Calculated as adjusted net loss attributable to the Company\u2019s ordinary shareholders divided by weighted-average number of basic and diluted ordinary shares.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>RECENT BUSINESS DEVELOPMENTS<\/strong>\n      <\/p>\n<p align=\"justify\">To celebrate the dual anniversaries with its over 31 million registered loyalty club members, Tims China\u00a0partnered with\u00a0Air Canada\u00a0to launch a special \u201cMaple Journey\u201d campaign in February 2026, offering\u00a0four round-trip tickets between Shanghai and a city of choice in Canada. This exclusive promotion serves as a heartfelt thank-you to Chinese consumers for their support over the past seven years, connecting Shanghai and Canada through both coffee and travel. Tims China\u2019s connection with travel extends beyond this partnership. In recent years, the brand has expanded into key transportation hubs, including airports, high-speed rail stations, and highway service areas, bringing Tims stores to major transit points. Whether in the air or on the move across cities, travelers can enjoy a delicious and trusted Tims experience.<\/p>\n<p align=\"justify\">\n        <strong>USE OF NON-GAAP FINANCIAL MEASURES<\/strong>\n      <\/p>\n<p align=\"justify\">The Company uses non-GAAP financial measures, namely company owned and operated store contribution, company owned and operated store contribution margin, adjusted general and administrative expenses, adjusted corporate EBITDA, adjusted corporate EBITDA margin, adjusted net loss, adjusted net loss margin, and adjusted basic and diluted net loss per ordinary share in evaluating its operating results and for financial and operational decision-making purposes. The Company defines (i) company owned and operated store contribution as fully burdened gross profit of company owned and operated stores excluding depreciation and amortization; (ii) company owned and operated store contribution margin as company owned and operated store contribution as a percentage of revenues from company owned and operated stores; (iii) adjusted general and administrative expenses as general and administrative expenses excluding share-based compensation expenses, expenses related to the Commitment Shares, the ESA Offering Costs, the Option Shares, professional fees related to warrant exchange and other financing programs, and impairment losses of rental deposits; (iv) adjusted corporate EBITDA as operating loss for continuing operations excluding certain non-cash expenses consisting of depreciation and amortization, share-based compensation expenses, impairment losses of long-lived assets<strong>, <\/strong>loss on disposal of property and equipment, expenses related to the Commitment Shares, the ESA Offering Costs, the Option Shares, professional fees related to warrant exchange and other financing programs, and impairment losses of rental deposits; (v) adjusted corporate EBITDA margin as adjusted corporate EBITDA as a percentage of total revenues; (vi) adjusted net loss as net loss for continuing operations excluding share-based compensation expenses, impairment losses of long-lived assets<strong>, <\/strong>loss on disposal of property and equipment, expenses related to the Commitment Shares, the ESA Offering Costs, the Option Shares, professional fees related to warrant exchange and other financing programs, impairment losses of rental deposits<strong>,<\/strong> changes in fair value of convertible notes, changes in fair value of warrant liabilities, changes in fair value of ESA derivative liabilities, loss of the debt extinguishment and gain on disposal of Popeyes business; (vii) adjusted net loss margin as adjusted net loss as a percentage of total revenues; and (viii) adjusted basic and diluted net loss per ordinary share as adjusted net loss for continuing operations attributable to the Company\u2019s ordinary shareholders divided by weighted-average number of basic and diluted ordinary share<strong>.<\/strong> The Company believes company owned and operated store contribution, company owned and operated store contribution margin, adjusted general and administrative expenses, adjusted corporate EBITDA, adjusted corporate EBITDA margin, adjusted net loss, adjusted net loss margin, and adjusted basic and diluted net loss per ordinary share enhance investors&#8217; overall understanding of its financial performance and allow for greater visibility with respect to key metrics used by its management in its financial and operational decision-making.<\/p>\n<p align=\"justify\">These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. As these non-GAAP financial measures have limitations as analytical tools and may not be calculated in the same manner by all companies, they may not be comparable to other similarly titled measures used by other companies. The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measures, which should be considered when evaluating the Company\u2019s performance. For reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the section of the accompanying tables titled, \u201cReconciliation of Non-GAAP Measures to the Most Directly Comparable GAAP Measures.\u201d The Company encourages investors and others to review its financial information in its entirety and not rely on any single financial measure.<\/p>\n<p align=\"justify\">\n        <strong>EXCHANGE RATE INFORMATION<\/strong>\n      <\/p>\n<p align=\"justify\">This earnings release contains translations of certain RMB amounts into U.S. dollars (\u201cUSD\u201d) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to USD were made at the rate of RMB6.9931 to USD1.00, the exchange rate in effect on December 31, 2025 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or USD amounts referred could be converted into USD or RMB, as the case may be, at any rate or at all.<\/p>\n<p align=\"justify\">\n        <strong>CONFERENCE CALL<\/strong>\n      <\/p>\n<p align=\"justify\">The Company will hold a conference call today, on Tuesday, April 14, 2026, at 8:00 am Eastern Time (on Tuesday, April 14, 2026, at 8:00 pm Beijing Time) to discuss the financial results.<\/p>\n<p align=\"justify\">Participants are strongly encouraged to pre-register for the conference call, by using the weblink provided below.<\/p>\n<p align=\"justify\">\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=fi1XvEz-gJfdM8-J6WRysDz1vqiHVhKdsmHAMeUN51aO6RzUTvA7D1vIYGEZELa6OQJJumNq9p6TvpLaW4DTZDlNFMVd0OR_s54epe6ZHAJRFWSOfgUCM3Pr9Miao5rBgYVcRD4xgM7Ib6h_ldol16nUv1oh6cdps2R1L4q20ppVM0r04yoHEfT66J6V9BCgF-kdIQMVXmJ0O914rKzePk--WNf_-pEGpB8CfIZuYdw5Q4yBEJcg5i1f-GDHYAyoY53WfaUqhetdwHSvcDSig2b84MlNJOZKRu5E-QSffZDZDFI6ZTVBeHHhbEw31VFoCpS3g570LD9IQUUsJGXXVBHWQvLlIPvDtXQ9yZh-Ry2YgZDIbPSvv6Ny_G5hxTNAqcIlH0nHJKXPVuy9PrupyeGjVanV2LTQYF-8N34eWrUXB1uX94cRQ1dfp7B3e3NDpsQgAIWfWe53hDd03DtlmqSWlesjuxjHTdCsKkDsb-j0CzwcjZcGkY4p0G9pxlxvxk-nDwvV7fCoHIiXEUx08yCh_Q8fZKZygXRNSRYtN2Y=\" rel=\"nofollow\" target=\"_blank\">https:\/\/register-conf.media-server.com\/register\/BIa8caf52166d74ea2961e15361ea8e13f<\/a>\n      <\/p>\n<p align=\"justify\">Participants may also view the live webcast by registering through below weblink:<\/p>\n<p align=\"justify\">\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=fi1XvEz-gJfdM8-J6WRysNr2dZfWMsBYKCgzukBCHf_hF9rh1ZuAWkEd-uXkKaD7RdbQvuWNlxh5okGrhPhXUARzX41YSUuPKdR8JbAYe3Q9YFplNRBOaJojEiI3Jz4kgCTSYtTCDwg8tEfOZTmAK6GhOFngJbPdRmpdci1RjBs=\" rel=\"nofollow\" target=\"_blank\">https:\/\/edge.media-server.com\/mmc\/p\/ro58awqs<\/a>\u00a0<\/p>\n<p align=\"justify\">The webcast features a \u2018Submit Your Question\u2019 tab at the top, where you will have the opportunity to submit your questions before and during the call.<\/p>\n<p align=\"justify\">A live and archived webcast of the conference call will also be available at the Company\u2019s\u00a0Investor Relations website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=fi1XvEz-gJfdM8-J6WRysFxOijGZbhXZexf_KqjTiqsDtOitPDIXrv-hMOGi8DAqV9tNA91OcRyDNsfkJPia1EcNNkTQRtMrvUz37g2xAjY=\" rel=\"nofollow\" target=\"_blank\">https:\/\/ir.timschina.com<\/a> under \u201cEvents and Presentations\u201d.<\/p>\n<p align=\"justify\">\n        <strong>FORWARD-LOOKING STATEMENTS<\/strong>\n      <\/p>\n<p align=\"justify\">Certain statements in this earnings release may be considered forward-looking statements within the meaning of the \u201csafe harbor\u201d provisions of the United States Private Securities Litigation Reform Act of 1995, such as the Company\u2019s ability to further grow its business and store network, optimize its cost structure, improve its operational efficiency, and achieve profitable growth. Forward-looking statements are statements that are not historical facts and generally relate to future events or the Company\u2019s future financial or other performance metrics. In some cases, you can identify forward-looking statements by terminology such as \u201cbelieve,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201cpotentially,\u201d \u201cestimate,\u201d \u201ccontinue,\u201d \u201canticipate,\u201d \u201cintend,\u201d \u201ccould,\u201d \u201cwould,\u201d \u201cproject,\u201d \u201ctarget,\u201d \u201cplan,\u201d \u201cexpect,\u201d or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such forward looking statements. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by the Company and its management, as the case may be, are inherently uncertain and subject to material change. Factors that may cause actual results to differ materially from current expectations include various factors beyond management\u2019s control, including, but not limited to, general economic conditions and other risks, uncertainties and factors set forth in the sections entitled \u201cRisk Factors\u201d and \u201cCautionary Statement Regarding Forward-Looking Statements\u201d in the Company\u2019s Annual Report on Form 20-F, and other filings it makes with the Securities and Exchange Commission. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. Except as required by law, the Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company\u2019s expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based.<\/p>\n<p align=\"justify\">\n        <strong>STATEMENT REGARDING PRELIMINARY UNAUDITED FINANCIAL INFORMATION<\/strong>\n      <\/p>\n<p align=\"justify\">The unaudited financial information set out in this earnings release is preliminary and subject to potential adjustments. Adjustments to the consolidated financial statements may be identified when audit work has been performed for the Company\u2019s year-end audit, which could result in significant differences from this preliminary unaudited financial information. Accordingly, you should not place undue reliance upon these preliminary estimates. The preliminary unaudited financial information included in this press release has been prepared by, and is the responsibility of, the Company\u2019s management. The Company\u2019s auditor has not audited, reviewed, compiled, or applied agreed-upon procedures with respect to such preliminary financial data. Accordingly, the Company\u2019s auditor does not express an opinion or any other form of assurance with respect thereto. Upon completion of the year-end audit, the Company\u2019s audited financial results may differ materially from its preliminary estimates.<\/p>\n<p align=\"justify\">\n        <strong>ABOUT TH INTERNATIONAL LIMITED<\/strong>\n      <\/p>\n<p align=\"justify\">TH International Limited (Nasdaq: THCH) (\u201cTims China\u201d) is the parent company of the exclusive master franchisees of Tim Hortons coffee shops in mainland China, Hong Kong and Macau. Tims China was founded by Cartesian Capital Group and Tim Hortons Restaurants International, a subsidiary of Restaurant Brands International (TSX: QSR) (NYSE: QSR).<\/p>\n<p align=\"justify\">The Company\u2019s philosophy is rooted in world-class execution and data-driven decision making and centered around true local relevance, continuous innovation, genuine community, and absolute convenience. For more information, please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=fi1XvEz-gJfdM8-J6WRysIFs6CcmcjsmUbM9ByRNNOnh_zG-7YOMhPHuBdIAWcwAllbV8C05myV72XS3hSzRSlQqP904_u-uWG85PWGXIJY=\" rel=\"nofollow\" target=\"_blank\">https:\/\/www.timschina.com<\/a>.<\/p>\n<p align=\"justify\">\n        <strong>INVESTOR AND MEDIA CONTACTS<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <strong>Investor Relations<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=kQHSm7EbIZGDZekHsYbD8S_1q8Ux18k4griY2R_YG59U1mQlhxXpykX_Qhlwag0IhGI2O9QGJjzmwcNQQ8BfVBZo9b8uIio0FAOQvnoVB_c=\" rel=\"nofollow\" target=\"_blank\">IR@timschina.com<\/a>\n      <\/p>\n<p align=\"justify\">\n        <strong>Public and Media Relations<\/strong>\n      <\/p>\n<p align=\"justify\">Patty Yu<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=lHmRtAIvh-NYfRJK0xH9njlm0sfDhmx-VVryrU2fobFKggco4Z3N33ZCWQsWdXMSdZhGn-iaLbCsg_9JlkQChIX9uAo62htKMv3sryDn9pk=\" rel=\"nofollow\" target=\"_blank\">Patty.Yu@timschina.com<\/a><\/p>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"9\" style=\"text-align: center;vertical-align: middle\">\n            <strong>TH INTERNATIONAL LIMITED AND SUBSIDIARIES<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" style=\"text-align: center;vertical-align: middle\">\n            <strong>UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" style=\"text-align: center;vertical-align: middle\">\n            <strong>(Amounts in thousands of RMB and US$, except for number of shares)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td colspan=\"2\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td colspan=\"2\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"8\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>As of<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>December 31, 2024<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>December 31,\u00a02025<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle\">\n            <strong>US$<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>ASSETS<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: center;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>Current assets:<\/strong>\n          <\/td>\n<td colspan=\"2\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td colspan=\"2\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td colspan=\"2\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:59%;width:59%;min-width:59%;vertical-align: middle;text-align: left;padding-left: 10.0px\">Cash and cash equivalents<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;padding-right: 0;text-align: right;vertical-align: middle\">152,368<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;padding-right: 0;text-align: right;vertical-align: middle\">121,795<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:12%;width:12%;min-width:12%;padding-right: 0;text-align: right;vertical-align: middle\">17,416<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Restricted Cash<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">31,869<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">7,916<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">1,132<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Amount due from related parties<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">5,858<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">195<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">28<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Accounts receivable, net<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">30,526<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">17,692<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">2,530<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Inventories<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">37,578<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">36,793<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">5,261<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Prepaid expenses and other current assets<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">158,882<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">142,235<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">20,340<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>Total current assets<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>417,081<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>326,626<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>46,707<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>Non-current assets:<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Property and equipment, net<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">502,159<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">332,070<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">47,485<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Intangible assets, net<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">97,019<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">81,014<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">11,585<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Operating lease right-of-use assets<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">493,308<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">348,916<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">49,894<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Other non-current assets<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">53,967<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">88,051<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">12,592<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>Total non-current assets<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>1,146,453<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>850,051<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>121,556<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>Total assets<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>1,563,534<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>1,176,677<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>168,263<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>LIABILITIES AND SHAREHOLDERS\u2019 EQUITY<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>Current liabilities:<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Bank borrowings, current<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">381,263<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">395,088<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">56,497<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Accounts payable<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">223,838<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">199,152<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">28,478<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Contract liabilities<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">39,678<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">37,197<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">5,319<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Amount due to related parties<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">48,117<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">17,414<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">2,490<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Convertible notes, at fair value<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">473,716<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Operating lease liabilities<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">178,115<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">180,806<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">25,855<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Other current liabilities<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">191,205<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">172,605<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">24,683<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>Total current liabilities<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>1,535,932<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>1,002,262<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>143,322<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>Non-current liabilities:<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Convertible notes, at fair value<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">464,847<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">1,152,723<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">164,837<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Contract liabilities<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">8,022<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">10,133<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">1,449<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Operating lease liabilities<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">380,075<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">240,282<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">34,360<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Other non-current liabilities<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">7,673<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">7,712<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">1,103<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>Total non-current liabilities<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>860,617<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>1,410,850<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>201,749<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>Total liabilities<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>2,396,549<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>2,413,112<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>345,071<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>Shareholders\u2019 equity:<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Ordinary shares<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">10<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">10<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">1<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Additional paid-in capital<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">1,818,421<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">1,821,605<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">260,486<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Accumulated losses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">(2,668,505<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">(3,102,994<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">(443,722<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Accumulated other comprehensive income<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">9,185<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">38,393<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">5,490<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Treasury shares<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Total deficit attributable to shareholders of the Company<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">(840,889<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">(1,242,986<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">(177,745<\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Non-controlling interests<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">7,874<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">6,551<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">937<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>Total shareholders&#8217; deficit<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(833,015<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(1,236,435<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(176,808<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">Commitments and Contingencies<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px\">\n            <strong>Total liabilities and shareholders&#8217; deficit<\/strong>\n          <\/td>\n<td style=\"border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>1,563,534<\/strong>\n          <\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>1,176,677<\/strong>\n          <\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>168,263<\/strong>\n          <\/td>\n<td style=\"border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td colspan=\"2\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td colspan=\"2\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td colspan=\"2\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"18\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>TH INTERNATIONAL LIMITED AND SUBSIDIARIES<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"18\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME\/(LOSS)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"18\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>(Amounts in thousands of RMB and US$, except for per share data)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"8\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>For the three months ended December 31,<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"8\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>For the year ended December 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"5\" style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"5\" style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>US$<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>US$<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Revenues:<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:35%;width:35%;min-width:35%;vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Company owned and operated stores<\/td>\n<td style=\"max-width:9%;width:9%;min-width:9%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">270,152<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:9%;width:9%;min-width:9%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">248,654<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:9%;width:9%;min-width:9%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">35,557<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:9%;width:9%;min-width:9%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,188,293<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:9%;width:9%;min-width:9%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,068,169<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:9%;width:9%;min-width:9%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">152,747<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Other revenues<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">62,473<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">59,806<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">8,552<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">202,865<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">248,027<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">35,467<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Total revenues<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>332,625<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>308,460<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>44,109<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>1,391,158<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>1,316,196<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>188,214<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Costs and expenses, net:<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Company owned and operated stores<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Food and packaging<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">84,797<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">73,131<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">10,458<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">374,086<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">321,948<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">46,038<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Rental and property management fee<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">56,854<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">52,633<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">7,526<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">241,425<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">220,885<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">31,586<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Payroll and employee benefits<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">54,880<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">50,563<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">7,230<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">231,542<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">199,342<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">28,506<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Delivery costs<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">28,584<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">33,027<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">4,723<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">119,171<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">130,649<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">18,682<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Other operating expenses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">22,745<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">21,733<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,108<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">95,036<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">84,317<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">12,057<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Store depreciation and amortization<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">36,074<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">26,213<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,748<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">129,614<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">107,930<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">15,434<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Company owned and operated store costs and expenses<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>283,934<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>257,300<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>36,793<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>1,190,874<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>1,065,071<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>152,303<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Costs of other revenues<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">48,532<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">41,531<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">5,939<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">153,612<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">171,326<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">24,499<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Marketing expenses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">13,764<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">16,298<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,331<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">64,849<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">63,457<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">9,074<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">General and administrative expenses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">76,321<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">63,034<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">9,014<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">210,323<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">204,341<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">29,222<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Franchise and royalty expenses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">13,952<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">15,388<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,200<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">57,761<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">62,736<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">8,971<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Other operating costs and expenses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">315<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,950<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">279<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">10,794<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,283<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">469<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Loss on disposal of property and equipment<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">431<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,213<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">173<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">4,147<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">6,470<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">925<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Impairment losses of long-lived assets<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">15,901<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">31,232<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">4,466<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">56,287<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">60,320<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">8,626<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Other income<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,338<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">869<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">124<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">8,408<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,455<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">494<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Total costs and expenses, net<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>449,812<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>427,077<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>61,071<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>1,740,239<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>1,633,549<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>233,595<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Operating loss<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(117,187<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(118,617<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(16,962<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(349,081<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(317,353<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(45,381<\/strong>\n          <\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Interest income<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">982<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">648<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">93<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,203<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,528<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">504<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Interest expenses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(3,706<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(4,017<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(574<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(22,448<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(16,679<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(2,385<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Foreign currency transaction gain\/(loss)<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(933<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(627<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(91<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,484<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,120<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(159<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Loss of the debt extinguishment<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(73,078<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(10,450<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(10,657<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(73,078<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(10,450<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Changes in fair value of Deferred Contingent consideration<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(16,941<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Changes in fair value of convertible notes<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(17,413<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(31,493<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(4,503<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(65,874<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(30,627<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(4,380<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Loss from continuing operations before income taxes<\/strong>\n          <\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(138,257<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(227,184<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(32,487<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(458,314<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(435,329<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(62,251<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Income tax expenses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(616<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(2,115<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(484<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(69<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Net loss from continuing operations<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(138,873<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(227,184<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(32,487<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(460,429<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(435,813<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(62,320<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Discontinued operations\uff1a<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Income from discontinued operations before income taxes (including gain on disposal of Popeyes business RMB66,203 thousand in 2024) before income taxes<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">6,485<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">51,444<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Income tax expenses<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Net income from discontinued operations<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>6,485<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>51,444<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Net loss<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(132,388<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(227,184<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(32,487<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(408,985<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(435,813<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(62,320<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Less: Net income\/(loss) attributable to non-controlling interests<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(830<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">936<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">134<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,096<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,323<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(189<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Net income\/(loss) attributable to shareholders of the Company<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">-from continuing operations<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(138,043<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(228,120<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(32,621<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(463,525<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(434,490<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(62,131<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">-from discontinued operations<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">6,485<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">51,444<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Basic and diluted loss per Ordinary Share<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(4.05<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(7.01<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1.00<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(12.70<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(13.36<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1.91<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Net loss<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(132,388<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(227,184<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(32,487<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(408,985<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(435,813<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(62,320<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Other comprehensive income\/(loss)<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Amounts reclassified from accumulated other comprehensive income<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">5,851<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">837<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">5,851<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">837<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Fair value changes of convertible notes due to instrument-specific credit risk, net of nil income taxes<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,282<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">4,544<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">650<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,495<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,005<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">287<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Foreign currency translation adjustment, net of nil income taxes<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(16,577<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">11,771<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">1,683<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(10,812<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">21,354<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,053<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Total comprehensive loss<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(150,247<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(205,018<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(29,317<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(421,292<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(406,603<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(58,143<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">Less: Comprehensive income\/(loss) attributable to non-controlling interests<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(830<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">936<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">134<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,096<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,323<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(189<\/td>\n<td style=\"padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Comprehensive loss attributable to shareholders of the Company<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(149,417<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(205,954<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(29,451<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(424,388<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(405,280<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(57,954<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"18\" style=\"width:99.9387%;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>TH INTERNATIONAL LIMITED AND SUBSIDIARIES<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"18\" style=\"width:99.9387%;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"18\" style=\"width:99.9387%;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>(Amounts in thousands of RMB and US$)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:35.1103%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:9.98775%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:9.98775%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:9.98775%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:9.98775%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:9.98775%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:9.98775%;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:35.1103%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"8\" style=\"width:31.924%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>For the three months ended December 31,<\/strong>\n          <\/td>\n<td style=\"width:0.980392%;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"8\" style=\"width:31.924%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>For the year ended December 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:35.1103%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:9.98775%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"width:0.980392%;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"5\" style=\"width:20.9559%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"width:0.980392%;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:9.98775%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"width:0.980392%;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"5\" style=\"width:20.9559%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"width:35.1103%;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:9.98775%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.980392%;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:9.98775%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.980392%;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:9.98775%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>US$<\/strong>\n          <\/td>\n<td style=\"width:0.980392%;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:9.98775%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.980392%;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:9.98775%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.980392%;text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:9.98775%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>US$<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:35%;width:35.1103%;min-width:35%;text-align: left;vertical-align: middle;vertical-align: bottom\">Net cash provided by\/(used in) operating activities<\/td>\n<td style=\"max-width:9%;width:9.00735%;min-width:9%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(31,629<\/td>\n<td style=\"max-width:1%;width:0.980392%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"max-width:1%;width:0.980392%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:9%;width:9.00735%;min-width:9%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(9,600<\/td>\n<td style=\"max-width:1%;width:0.980392%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"max-width:1%;width:0.980392%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:9%;width:9.00735%;min-width:9%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,373<\/td>\n<td style=\"max-width:1%;width:0.980392%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"max-width:1%;width:0.980392%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:9%;width:9.00735%;min-width:9%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(39,667<\/td>\n<td style=\"max-width:1%;width:0.980392%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"max-width:1%;width:0.980392%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:9%;width:9.00735%;min-width:9%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(12,707<\/td>\n<td style=\"max-width:1%;width:0.980392%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"max-width:1%;width:0.980392%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:9%;width:9.00735%;min-width:9%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,817<\/td>\n<td style=\"max-width:1%;width:0.980392%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:35.1103%;text-align: left;vertical-align: middle;vertical-align: bottom\">Net cash used in investing activities<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">13,222<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">4,142<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">592<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(8,037<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(62,833<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(8,985<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:35.1103%;text-align: left;vertical-align: middle;vertical-align: bottom\">Net cash provided by\/(used in) financing activities<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">9,800<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(25,085<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(3,587<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">26,004<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">21,702<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">3,103<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:35.1103%;text-align: left;vertical-align: middle;vertical-align: bottom\">Effect of foreign currency exchange rate changes on cash<\/td>\n<td style=\"width:9.00735%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(3,890<\/td>\n<td style=\"width:0.980392%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.980392%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">925<\/td>\n<td style=\"width:0.980392%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">132<\/td>\n<td style=\"width:0.980392%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">2,350<\/td>\n<td style=\"width:0.980392%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(688<\/td>\n<td style=\"width:0.980392%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.980392%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(99<\/td>\n<td style=\"width:0.980392%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:35.1103%;text-align: left;vertical-align: middle;vertical-align: bottom\">Net decrease in cash<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(12,497<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(29,618<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(4,236<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(19,350<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(54,526<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">(7,798<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"width:35.1103%;text-align: left;vertical-align: middle;vertical-align: bottom\">Cash and cash equivalents and restricted cash, at beginning of the period<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">196,734<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">159,329<\/td>\n<td style=\"width:0.980392%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">22,784<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">203,587<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">184,237<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">26,346<\/td>\n<td style=\"width:0.980392%;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:35.1103%;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Cash and cash equivalents and restricted cash, at end of the period<\/strong>\n          <\/td>\n<td style=\"width:9.00735%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>184,237<\/strong>\n          <\/td>\n<td style=\"width:0.980392%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>129,711<\/strong>\n          <\/td>\n<td style=\"width:0.980392%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>18,548<\/strong>\n          <\/td>\n<td style=\"width:0.980392%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>184,237<\/strong>\n          <\/td>\n<td style=\"width:0.980392%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>129,711<\/strong>\n          <\/td>\n<td style=\"width:0.980392%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;border-top: solid black 1pt;border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>18,548<\/strong>\n          <\/td>\n<td style=\"width:0.980392%;border-top: solid black 1pt;border-bottom: double black 3pt;padding-left: 0;text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:35.1103%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:9.00735%;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"width:0.980392%;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"31\" style=\"width:98.8971%;text-align: center;vertical-align: middle\">\n            <strong>TH INTERNATIONAL LIMITED AND SUBSIDIARIES<\/strong>\n          <\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"31\" style=\"width:98.8971%;text-align: center;vertical-align: middle\">\n            <strong>RECONCILIATION OF NON-GAAP MEASURES TO THE MOST DIRECTLY COMPARABLE GAAP MEASURES<\/strong>\n          <\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"31\" style=\"width:98.8971%;text-align: center;vertical-align: middle\">\n            <strong>(Unaudited, amounts in thousands of RMB and US$, except for number of shares and per share data)<\/strong>\n          <\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">\n            <strong>A. Company owned and operated store contribution<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"14\" style=\"width:35.2941%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>For the three months ended December 31,<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"14\" style=\"width:35.1716%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>For the year ended December 31,<\/strong>\n          <\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"4\" style=\"width:12.0711%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"7\" style=\"width:19.2402%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"4\" style=\"width:12.0711%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"width:1.40931%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"7\" style=\"width:19.2402%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>% of Revenues &#8211; company owned and operated stores<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>US$<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>% of Revenues &#8211; company owned and operated stores<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>% of Revenues &#8211; company owned and operated stores<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>US$<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>% of Revenues &#8211; company owned and operated stores<\/strong>\n          <\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:29%;width:26.5931%;min-width:29%;text-align: left;vertical-align: middle\">Revenues &#8211; company owned and operated stores<\/td>\n<td style=\"max-width:1%;width:0.919118%;min-width:1%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:5%;width:5.14706%;min-width:5%;padding-right: 0;text-align: right;vertical-align: middle\">270,152<\/td>\n<td style=\"max-width:1%;width:1.10294%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:0.919118%;min-width:1%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:5%;width:4.90196%;min-width:5%;padding-right: 0;text-align: right;vertical-align: middle\">100.0<\/td>\n<td style=\"max-width:1%;width:1.53186%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:0.919118%;min-width:1%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:5%;width:5.14706%;min-width:5%;padding-right: 0;text-align: right;vertical-align: middle\">248,654<\/td>\n<td style=\"max-width:1%;width:1.10294%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:0.919118%;min-width:1%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:5%;width:5.14706%;min-width:5%;padding-right: 0;text-align: right;vertical-align: middle\">35,557<\/td>\n<td style=\"max-width:1%;width:1.10294%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:0.919118%;min-width:1%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:5%;width:4.90196%;min-width:5%;padding-right: 0;text-align: right;vertical-align: middle\">100.0<\/td>\n<td style=\"max-width:1%;width:1.53186%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:0.919118%;min-width:1%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:5%;width:5.14706%;min-width:5%;padding-right: 0;text-align: right;vertical-align: middle\">1,188,293<\/td>\n<td style=\"max-width:1%;width:1.10294%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:0.919118%;min-width:1%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:5%;width:4.90196%;min-width:5%;padding-right: 0;text-align: right;vertical-align: middle\">100.0<\/td>\n<td style=\"max-width:1%;width:1.40931%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:0.919118%;min-width:1%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:5%;width:5.14706%;min-width:5%;padding-right: 0;text-align: right;vertical-align: middle\">1,068,169<\/td>\n<td style=\"max-width:1%;width:1.10294%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:0.919118%;min-width:1%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:5%;width:5.14706%;min-width:5%;padding-right: 0;text-align: right;vertical-align: middle\">152,747<\/td>\n<td style=\"max-width:1%;width:1.10294%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:0.919118%;min-width:1%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:5%;width:4.90196%;min-width:5%;padding-right: 0;text-align: right;vertical-align: middle\">100.0<\/td>\n<td style=\"max-width:1%;width:1.53186%;min-width:1%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"max-width:1%;width:0.980392%;min-width:1%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Food and packaging costs &#8211; company owned and operated stores<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(84,797<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(31.4<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(73,131<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(10,458<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(29.4<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(374,086<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(31.5<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(321,948<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(46,038<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(30.1<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Rental expenses &#8211; company owned and operated stores<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(56,854<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(21.0<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(52,633<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(7,526<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(21.2<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(241,425<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(20.3<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(220,885<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(31,586<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(20.7<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Payroll and employee benefits &#8211; company owned and operated stores<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(54,880<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(20.3<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(50,563<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(7,230<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(20.3<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(231,542<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(19.5<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(199,342<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(28,506<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(18.7<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Delivery costs &#8211; company owned and operated stores<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(28,584<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(10.6<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(33,027<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(4,723<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(13.3<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(119,171<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(10.0<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(130,649<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(18,682<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(12.2<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Other operating expenses &#8211; company owned and operated stores<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(22,745<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(8.4<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(21,733<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(3,108<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(8.7<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(95,036<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(8.0<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(84,317<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(12,057<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(7.9<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Store depreciation and amortization<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(36,074<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(13.4<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(26,213<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(3,748<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(10.5<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(129,614<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(10.9<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(107,930<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(15,434<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(10.1<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Franchise and royalty expenses &#8211; company owned and operated stores<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(9,319<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(3.5<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(8,403<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(1,202<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(3.5<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(39,420<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(3.3<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(35,748<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(5,112<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(3.4<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">\n            <strong>Fully-burdened gross (loss)\u00a0profit &#8211; company owned and operated stores<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(23,101<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(8.6<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(17,049<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(2,438<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(6.9<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(42,001<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(3.5<\/strong>\n          <\/td>\n<td style=\"width:1.40931%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(32,650<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(4,668<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(3.1<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Store depreciation and amortization<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">36,074<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">13.4<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">26,213<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">3,748<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">10.6<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">129,614<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">10.9<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">107,930<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">15,434<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">10.1<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">\n            <strong>Company owned and operated store contribution<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>12,973<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>4.8<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>9,164<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>1,310<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>3.7<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>87,613<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>7.4<\/strong>\n          <\/td>\n<td style=\"width:1.40931%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>75,280<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>10,766<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>7.0<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">\n            <strong>Company owned and operated store contribution margin<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>4.8<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>4.8<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>3.7<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>3.7<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>3.7<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>7.4<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>7.4<\/strong>\n          <\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>7.0<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>7.0<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>7.0<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">\n            <strong>B. Adjusted general and administrative expenses<\/strong>\n          <\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"14\" style=\"width:35.2941%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>For the three months ended December 31,<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"14\" style=\"width:35.1716%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>For the year ended December 31,<\/strong>\n          <\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"4\" style=\"width:12.0711%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"7\" style=\"width:19.2402%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"4\" style=\"width:12.0711%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"width:1.40931%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"7\" style=\"width:19.2402%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>% of Total Revenues<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>US$<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>% of Total Revenues<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>% of Total Revenues<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>US$<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>% of Total Revenues<\/strong>\n          <\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">General and administrative expenses from continuing operations<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(76,321<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(23.0<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(63,034<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(9,014<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(20.4<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(210,323<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(15.2<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(204,341<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(29,222<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(15.5<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Adjusted for:<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Share-based compensation expenses<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(741<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(0.2<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">436<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">62<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.1<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">519<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">2,827<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">404<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.2<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Professional fees related to financing programs<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">15,232<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">2,178<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">4.9<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">10,464<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.8<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">16,239<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">2,322<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">1.2<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Impairment losses of rental deposits<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(1,235<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(177<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(0.4<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">2,457<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.2<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">7,615<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">1,089<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.6<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">\n            <strong>Adjusted General and administrative expenses<\/strong>\n          <\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(77,062<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(23.2<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(48,601<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(6,951<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(15.8<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(196,883<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(14.2<\/strong>\n          <\/td>\n<td style=\"width:1.40931%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(177,660<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(25,407<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(13.5<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"width:33.7623%;text-align: left;vertical-align: middle\">\n            <strong>C. Adjusted corporate EBITDA and adjusted corporate EBITDA margin<\/strong>\n          <\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"14\" style=\"width:35.2941%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>For the three months ended December 31,<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"14\" style=\"width:35.1716%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>For the year ended December 31,<\/strong>\n          <\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"4\" style=\"width:12.0711%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"7\" style=\"width:19.2402%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"4\" style=\"width:12.0711%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"width:1.40931%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"7\" style=\"width:19.2402%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>% of Total Revenues<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>US$<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>% of Total Revenues<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>% of Total Revenues<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>US$<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>% of Total Revenues<\/strong>\n          <\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Operating loss from continuing operations<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(117,187<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(35.3<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(118,617<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(16,962<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(38.5<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(349,081<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(25.1<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(317,353<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(45,381<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(24.1<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Adjusted for:<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Depreciation and amortization<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">44,243<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">13.3<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">36,341<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">5,197<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">11.8<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">167,721<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">12.1<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">146,412<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">20,937<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">11.1<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Share-based compensation expenses<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(741<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(0.2<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">438<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">63<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.1<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">519<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.0<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">2,829<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">405<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.2<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Impairment losses of rental deposits<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.0<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(1,235<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(177<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(0.4<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">2,457<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.2<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">7,615<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">1,089<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.6<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">One-off expense of store closure<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">7,909<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">2.4<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.0<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">11,090<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.8<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.0<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Professional fees related to financing programs<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.0<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">15,232<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">2,178<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">4.9<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">10,464<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.8<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">16,239<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">2,322<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">1.2<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Impairment losses of long-lived assets<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">15,901<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">4.8<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">31,232<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">4,466<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">10.1<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">56,287<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">4.0<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">60,320<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">8,626<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">4.6<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Loss on disposal of property and equipment<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">431<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.1<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">1,213<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">173<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.4<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">4,147<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.3<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">6,470<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">925<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.5<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">\n            <strong>Adjusted Corporate EBITDA<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(49,444<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(14.9<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(35,396<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(5,062<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(11.6<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(96,396<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(6.9<\/strong>\n          <\/td>\n<td style=\"width:1.40931%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(77,468<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(11,077<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(5.9<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">\n            <strong>D. Adjusted net loss and adjusted net loss margin<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"14\" style=\"width:35.2941%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>For the three months ended December 31,<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"14\" style=\"width:35.1716%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>For the year ended December 31,<\/strong>\n          <\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"4\" style=\"width:12.0711%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"7\" style=\"width:19.2402%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"4\" style=\"width:12.0711%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"width:1.40931%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"7\" style=\"width:19.2402%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>% of Total Revenues<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>US$<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>% of Total Revenues<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>% of Total Revenues<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>US$<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>% of Total Revenues<\/strong>\n          <\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Net loss from continuing operations<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(138,873<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(41.8<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(227,184<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(32,487<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(73.7<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(460,429<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(33.1<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(435,813<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(62,320<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(33.1<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Adjusted for:<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Share-based compensation expenses<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(741<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(0.2<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">438<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">63<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.1<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">519<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">2,829<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">405<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.2<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Professional fees related to financing programs<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">15,232<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">2,178<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">4.9<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">10,464<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.8<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">16,239<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">2,322<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">1.2<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Impairment losses of long-lived assets<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">15,901<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">4.8<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">31,232<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">4,466<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">10.1<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">56,287<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">4.0<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">60,320<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">8,626<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">4.6<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Impairment losses of rental deposits<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(1,235<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(177<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(0.4<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">2,457<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.2<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">7,615<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">1,089<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.6<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">One-off expense of store closure<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">7,909<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">2.4<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">11,090<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.8<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Loss on disposal of property and equipment<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">431<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.1<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">1,213<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">173<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.4<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">4,147<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.3<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">6,470<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">925<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.5<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Loss of the debt extinguishment<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">73,078<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">10,450<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">23.7<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">10,657<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.8<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">73,078<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">10,450<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">5.6<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Changes in fair value of Deferred Contingent consideration<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">16,941<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">1.2<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Changes in fair value of convertible notes<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">17,413<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">5.2<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">31,493<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">4,503<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">10.2<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">65,874<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">4.7<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">30,627<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">4,380<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">2.3<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">\n            <strong>Adjusted Net loss<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(97,960<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(29.5<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(75,733<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(10,831<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(24.7<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(281,993<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(20.3<\/strong>\n          <\/td>\n<td style=\"width:1.40931%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(238,635<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(34,123<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(18.1<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">\n            <strong>E. Adjusted basic and diluted net loss per Ordinary Share<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"14\" style=\"width:35.2941%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>For the three months ended December 31,<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"14\" style=\"width:35.1716%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>For the year ended December 31,<\/strong>\n          <\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"4\" style=\"width:12.0711%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"7\" style=\"width:19.2402%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"4\" style=\"width:12.0711%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2024<\/strong>\n          <\/td>\n<td style=\"width:1.40931%;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"7\" style=\"width:19.2402%;border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-bottom: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Unadjusted and Adjusted Basic and diluted loss per Ordinary Share<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>US$<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Unadjusted and Adjusted Basic and diluted loss per Ordinary Share<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Unadjusted and Adjusted Basic and diluted loss per Ordinary Share<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>RMB<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>US$<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: center;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle\">\n            <strong>Unadjusted and Adjusted Basic and diluted loss per Ordinary Share<\/strong>\n          <\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Net income\/(loss) attributable to shareholders of the Company<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(131,558<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(4.05<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(228,120<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(32,621<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(1.00<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(412,081<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(12.70<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(434,490<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(62,131<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(1.91<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Add:<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Net\u00a0income\/(loss)\u00a0from discontinuing operations to shareholders of the Company<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">6,485<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.20<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.00<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">51,444<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">1.59<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" style=\"width:27.5123%;text-align: left;vertical-align: middle\">Net\u00a0loss\u00a0from continuing operations to shareholders of the Company<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(138,043<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(4.25<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(228,120<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(32,621<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(1.00<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(463,525<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(14.29<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(434,490<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(62,131<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(1.90<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Adjusted for:<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Share-based compensation expenses<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(741<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(0.02<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">438<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">63<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">519<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.02<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">2,829<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">405<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.01<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Professional fees related to financing programs<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">15,232<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">2,178<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.07<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">10,464<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.32<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">16,239<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">2,322<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.07<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Impairment losses of long-lived assets<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">15,901<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.49<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">31,232<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">4,466<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.14<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">56,287<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">1.73<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">60,320<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">8,626<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.27<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Impairment losses of rental deposits<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(1,235<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">(177<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">(0.01<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">)<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">2,457<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.08<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">7,615<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">1,089<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.03<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">One-off expense of store closure<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">7,909<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.24<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">11,090<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.34<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Loss on disposal of property and equipment<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">431<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.01<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">1,213<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">173<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.01<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">4,147<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.13<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">6,470<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">925<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.03<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Loss of the debt extinguishment<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">73,078<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">10,450<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.32<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">10,657<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.33<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">73,078<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">10,450<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.32<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Changes in fair value of Deferred Contingent consideration<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">16,941<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.52<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">&#8211;<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Changes in fair value of convertible notes<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">17,413<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.54<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">31,493<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">4,503<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.13<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">65,874<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">2.03<\/td>\n<td style=\"width:1.40931%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">30,627<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">4,380<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;padding-right: 0;text-align: right;vertical-align: middle\">0.13<\/td>\n<td style=\"width:1.53186%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">\n            <strong>Adjusted Net loss attributable to shareholders of the Company<\/strong>\n          <\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(97,130<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(2.99<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(76,669<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(10,965<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(0.34<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(285,089<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(8.79<\/strong>\n          <\/td>\n<td style=\"width:1.40931%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(237,312<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(33,934<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;border-top: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(1.04<\/strong>\n          <\/td>\n<td style=\"width:1.53186%;border-top: solid black 1pt;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">Weighted average shares outstanding used in calculating basic and diluted loss per share<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">32,494,265<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;text-align: right;vertical-align: middle\">N\/A<\/td>\n<td style=\"width:1.53186%\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">32,519,377<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">32,519,377<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;text-align: right;vertical-align: middle\">N\/A<\/td>\n<td style=\"width:1.53186%\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">32,444,772<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;text-align: right;vertical-align: middle\">N\/A<\/td>\n<td style=\"width:1.40931%\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">32,519,377<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">32,519,377<\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:4.90196%;text-align: right;vertical-align: middle\">N\/A<\/td>\n<td style=\"width:1.53186%\">\u00a0<\/td>\n<td style=\"width:0.980392%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%;text-align: left;vertical-align: middle\">\n            <strong>Adjusted basic and diluted net loss per Ordinary Share<\/strong>\n          <\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(2.99<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(2.36<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(0.34<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(8.79<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(7.30<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td style=\"width:5.14706%;padding-right: 0;text-align: right;vertical-align: middle\">\n            <strong>(1.04<\/strong>\n          <\/td>\n<td style=\"width:1.10294%;padding-left: 0;text-align: left;vertical-align: middle\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"width:0.919118%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%;text-align: right;vertical-align: middle\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"width:26.5931%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.31127%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.25%\">\u00a0<\/td>\n<td style=\"width:0.919118%\">\u00a0<\/td>\n<td colspan=\"2\" style=\"width:6.43382%\">\u00a0<\/td>\n<td style=\"width:0.980392%\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTY4OTM5MSM3NTM0MTY5IzIyMjQ3Nzk=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/ZjQwNDAwMmItOTFhYS00ZDVhLWJmOTQtNzZlMjUxNmNjNzQ1LTEyMzYzMzItMjAyNi0wNC0xNC1lbg==\/tiny\/TH-International-Limited.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>System Sales Increased 4.0% Year-over-Year to RMB359.4 Million 17 Net New Store Openings During the Fourth Quarter, 1,047 System-Wide Stores at Year-End 2025 31.0 Million Registered Loyalty Club Members at Year-End, Representing 29.0% Year-over-Year Growth SHANGHAI and NEW YORK, April 14, 2026 (GLOBE NEWSWIRE) &#8212; TH International Limited (Nasdaq: THCH), the exclusive operator of Tim Hortons coffee shops in China (\u201cTims China\u201d or the \u201cCompany\u201d), today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2025. FOURTH QUARTER 2025 HIGHLIGHTS Total revenues\u00a0of\u00a0RMB308.5 million\u00a0(USD44.1 million), representing a\u00a07.3% decrease\u00a0from the same quarter of 2024. System sales 1 of RMB359.4 million (USD51.4 million), representing a 4.0% increase from the same quarter of 2024. Net new store openings &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Tims China Announces Fourth Quarter and Full Year 2025 Financial Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-951099","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tims China Announces Fourth Quarter and Full Year 2025 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tims China Announces Fourth Quarter and Full Year 2025 Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"System Sales Increased 4.0% Year-over-Year to RMB359.4 Million 17 Net New Store Openings During the Fourth Quarter, 1,047 System-Wide Stores at Year-End 2025 31.0 Million Registered Loyalty Club Members at Year-End, Representing 29.0% Year-over-Year Growth SHANGHAI and NEW YORK, April 14, 2026 (GLOBE NEWSWIRE) &#8212; TH International Limited (Nasdaq: THCH), the exclusive operator of Tim Hortons coffee shops in China (\u201cTims China\u201d or the \u201cCompany\u201d), today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2025. FOURTH QUARTER 2025 HIGHLIGHTS Total revenues\u00a0of\u00a0RMB308.5 million\u00a0(USD44.1 million), representing a\u00a07.3% decrease\u00a0from the same quarter of 2024. System sales 1 of RMB359.4 million (USD51.4 million), representing a 4.0% increase from the same quarter of 2024. Net new store openings &hellip; Continue reading &quot;Tims China Announces Fourth Quarter and Full Year 2025 Financial Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2026-04-14T11:43:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTY4OTM5MSM3NTM0MTY5IzIyMjQ3Nzk=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"27 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Tims China Announces Fourth Quarter and Full Year 2025 Financial Results\",\"datePublished\":\"2026-04-14T11:43:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\\\/\"},\"wordCount\":5446,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTY4OTM5MSM3NTM0MTY5IzIyMjQ3Nzk=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\\\/\",\"name\":\"Tims China Announces Fourth Quarter and Full Year 2025 Financial Results - Market Newsdesk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTY4OTM5MSM3NTM0MTY5IzIyMjQ3Nzk=\",\"datePublished\":\"2026-04-14T11:43:49+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTY4OTM5MSM3NTM0MTY5IzIyMjQ3Nzk=\",\"contentUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=OTY4OTM5MSM3NTM0MTY5IzIyMjQ3Nzk=\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tims China Announces Fourth Quarter and Full Year 2025 Financial Results\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\",\"name\":\"Market Newsdesk\",\"description\":\"Latest Business News in Real Time\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\",\"name\":\"Newsdesk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"caption\":\"Newsdesk\"},\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/author\\\/newsdesk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Tims China Announces Fourth Quarter and Full Year 2025 Financial Results - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\/","og_locale":"en_US","og_type":"article","og_title":"Tims China Announces Fourth Quarter and Full Year 2025 Financial Results - Market Newsdesk","og_description":"System Sales Increased 4.0% Year-over-Year to RMB359.4 Million 17 Net New Store Openings During the Fourth Quarter, 1,047 System-Wide Stores at Year-End 2025 31.0 Million Registered Loyalty Club Members at Year-End, Representing 29.0% Year-over-Year Growth SHANGHAI and NEW YORK, April 14, 2026 (GLOBE NEWSWIRE) &#8212; TH International Limited (Nasdaq: THCH), the exclusive operator of Tim Hortons coffee shops in China (\u201cTims China\u201d or the \u201cCompany\u201d), today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2025. FOURTH QUARTER 2025 HIGHLIGHTS Total revenues\u00a0of\u00a0RMB308.5 million\u00a0(USD44.1 million), representing a\u00a07.3% decrease\u00a0from the same quarter of 2024. System sales 1 of RMB359.4 million (USD51.4 million), representing a 4.0% increase from the same quarter of 2024. Net new store openings &hellip; Continue reading \"Tims China Announces Fourth Quarter and Full Year 2025 Financial Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\/","og_site_name":"Market Newsdesk","article_published_time":"2026-04-14T11:43:49+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTY4OTM5MSM3NTM0MTY5IzIyMjQ3Nzk=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"27 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Tims China Announces Fourth Quarter and Full Year 2025 Financial Results","datePublished":"2026-04-14T11:43:49+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\/"},"wordCount":5446,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTY4OTM5MSM3NTM0MTY5IzIyMjQ3Nzk=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\/","name":"Tims China Announces Fourth Quarter and Full Year 2025 Financial Results - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTY4OTM5MSM3NTM0MTY5IzIyMjQ3Nzk=","datePublished":"2026-04-14T11:43:49+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\/#primaryimage","url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTY4OTM5MSM3NTM0MTY5IzIyMjQ3Nzk=","contentUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTY4OTM5MSM3NTM0MTY5IzIyMjQ3Nzk="},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/tims-china-announces-fourth-quarter-and-full-year-2025-financial-results\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"Tims China Announces Fourth Quarter and Full Year 2025 Financial Results"}]},{"@type":"WebSite","@id":"https:\/\/www.marketnewsdesk.com\/#website","url":"https:\/\/www.marketnewsdesk.com\/","name":"Market Newsdesk","description":"Latest Business News in Real Time","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.marketnewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979","name":"Newsdesk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","caption":"Newsdesk"},"url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/"}]}},"_links":{"self":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/951099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/comments?post=951099"}],"version-history":[{"count":0,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/951099\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/media?parent=951099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/categories?post=951099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/tags?post=951099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}