FoodBud
RankingsInsightsMixue SeriesArchiveMethodologyDataSearch中文
RankingsInsightsMixue SeriesArchiveMethodologyDataSearch中文
FoodBud

Global foodservice chain intelligence. Every figure should link back to a source.

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中文

Company card

Tai Hing

High
Group★Golden 50est. scale

HKEX 06811 · HKEX

Listing status
listed
Operating model
Direct / managed estate
Scale basis
Company-operated revenue (proxy)
Confidence
High
Segment
restaurant chain

Hong Kong and Macau led multi-brand restaurant group; clean self-operated restaurant denominator. Brand mix includes Tai Hing, Men Wah Bing Teng, TeaWood, Asam Chicken Rice, Trusty Congee King and smaller new brands.

Scale basis note

Revenue from company-operated restaurants (mostly-owned estates). Useful for accounting scale, not directly comparable with GMV/system sales.

Compare this operator
Every number has a source row

Metrics below keep source tier, quality, period, and source link visible at the metric level.

Source tiers
S1Official primary — filings, annual reports, prospectuses
S2Official secondary — IR decks, transcripts
S3Supplementary — vetted media, databases
S0Not usable — flagged, never published

Source tiers — S1 official primary · S2 official secondary · S3 supplementary · S0 not usable. Open “Provenance” on any number for its tier, basis, precision, and do-not-use note.

GMV is not revenue

GMV/system sales, revenue, and royalty pool sales are separate scale bases. Screening proxies are directional only.

MetricValuePeriod / basisQualitySource
Stores
Reported restaurant, coffee shop, tea shop, bakery, or comparable chain units.
224 stores
FY2025: The Group now operates 224 restaurants (up from 211), including 198 in Hong Kong and Macau, and 26 in Mainland China.
Source-backed
S3 supplementary (opens in new tab)
Media Or Aggregator · The Group now operates 224 restaurants (up from 211), including 198 in Hong Kong and Macau, and 26 in Mainland China.
Provenance
Tier: S3 supplementary
Source: Media Or Aggregator
Scale
Revenue from company-operated restaurants (mostly-owned estates). Useful for accounting scale, not directly comparable with GMV/system sales.
$451.65M
FY2025: Revenue: HK$3,538.5 million (+7.5% YoY)
Company-operated revenue (proxy)Revenue from company-operated restaurants (mostly-owned estates). Useful for accounting scale, not directly comparable with GMV/system sales.
Source-backed
S3 supplementary (opens in new tab)
Media Or Aggregator · Revenue: HK$3,538.5 million (+7.5% YoY)
Provenance
Tier: S3 supplementary
Source: Media Or Aggregator
Basis: Company-operated revenue (proxy)
Precision: Estimated
Scale per store
Screening proxy: scale divided by store count. It is not audited AUV or unit profit.
$2.02M
Screening proxyest.
Derived scale_per_store using scale ÷ store_count at the linked scale basis; not a separately reported company metric.
Company-operated revenue (proxy)Revenue from company-operated restaurants (mostly-owned estates). Useful for accounting scale, not directly comparable with GMV/system sales.
Source-backed
S1 official primary (opens in new tab)
Operator Metric Source · Source used for operator metric extraction.
Provenance
Tier: S1 official primary
Source: Operator Metric Source
Basis: Company-operated revenue (proxy)
Precision: Derived
Profit signal
Profit signal from the source period. Read with local accounting and segment mix in mind.
$13.8M
FY2025: Profit attributable to shareholders jumped 72.3% to HK$108 million (2024: HK$62.75 million)
Profit-positiveScale basis not specified. Use as a screening signal until a source pack is attached.
Source-backed
S3 supplementary (opens in new tab)
Media Or Aggregator · Profit attributable to shareholders jumped 72.3% to HK$108 million (2024: HK$62.75 million)
Provenance
Tier: S3 supplementary
Source: Media Or Aggregator
Basis: Profit-positive
Revenue
Source-backed operating metric from the locked research snapshot.
$451.65M
HKD 3,538,495 thousand revenue
Revenue proxyRecognized company revenue. Useful for accounting scale, but not directly comparable with GMV/system sales.
Source-backed
S1 official primary (opens in new tab)
Operator Metric Source · Source used for operator metric extraction.
Provenance
Tier: S1 official primary
Source: Operator Metric Source
Basis: Revenue proxy
Precision: Manual override

Market data (listed companies)

Market valuation · fluctuates · not operational scale · do not compare with GMV / system sales. Listed companies only.

MetricValuePeriod / basisQualitySource
Market cap
Public market capitalization captured in the locked source snapshot.
$145.47M
May 22, 2026: May 22, 2026: Close at 1.17 HKD [× 971.42M shares outstanding = HKD 1,137M market cap]
Market cap (USD)Scale basis not specified. Use as a screening signal until a source pack is attached.
Source-backed
S3 supplementary (opens in new tab)
Media Or Aggregator · May 22, 2026: Close at 1.17 HKD [× 971.42M shares outstanding = HKD 1,137M market cap]
Provenance
Tier: S3 supplementary
Source: Media Or Aggregator
Basis: Market cap (USD)
Precision: Market snapshot · not operational scale
⚠ Do not use for: Market valuation · not operational scale · never compare with GMV/system sales

Operator profile

9/20 source-backed

Classification, firmographics, ownership and operating dimensions — source-backed where disclosed, marked as a gap (never inferred) where not.

Format & positioning
Cuisine (primary)
chineseS4 (opens in new tab)
Cuisine (secondary)
other asianS4 (opens in new tab)~
Service model
casual diningS2 official secondary (opens in new tab)
Price tier
midS3 supplementary (opens in new tab)
Company
Founded
1,989S4 (opens in new tab)
HQ country
Hong Kong~
CEO
Chan Ka KeungS1 official primary (opens in new tab)~
Employees
6,200 headcountS3 supplementary (opens in new tab)
Ownership
Parent
Founder/family-controlled (founder & controlling shareholder Chan Wing On, board chairman; died Nov 2025)S3 supplementary (opens in new tab)
PE / holding
not disclosed
Recent M&A
not disclosed
Growth
Revenue YoY
7.5%S3 supplementary (opens in new tab)
Net new units
13 unitsS3 supplementary (opens in new tab)
Pricing & digital
Avg check
not disclosed
Digital sales
not disclosed
Off-premise
not disclosed
Loyalty members
330,000S1 official primary (opens in new tab)
Franchise terms
Royalty
not disclosed
Franchise fee
not disclosed
By-market footprint
Hong Kong
197 storesS1 official primary (opens in new tab)
Macau
1 storesS1 official primary (opens in new tab)
Mainland China
26 storesS1 official primary (opens in new tab)

Store counts by market/region — footprint context, not a same-basis comparison.

Disclosed store model

disclosed8/8 source-backed

Company-operated vs franchised footprint, AUV and store-level economics — taken verbatim from each operator's own filing, never inferred. A separate axis from company scale and single-store economics.

Total stores
224 stores
224 self-operated restaurants; no franchise restaurants
Source-backedS1 official primary (opens in new tab)
Operational scale
$452M
Company revenue proxy: HKD 3,538.495 million FY2025 ended 31 Dec 2025 revenue across 224 self-operated restaurants; terminal network sales are kept separate when disclosed.
Source-backedS1 official primary (opens in new tab)
Revenue
$452M
HKD 3,538,495 thousand revenue
Source-backedS1 official primary (opens in new tab)
Company-operated
see brand drilldown
Franchised
see brand drilldown

Brand drilldown

non-additive

Per-brand detail — NOT additive (brands may use different bases / periods) and NOT counted in rankings. Listed for transparency only.

太兴集团
Food cost %
26.1%
FY2024
Source-backedS1 official primary (opens in new tab)
Labor cost %
36.1%
FY2024
Source-backedS1 official primary (opens in new tab)
Rent cost %
15.3%
FY2024
Source-backedS1 official primary (opens in new tab)
Marketing cost %
0.9%
FY2024
Source-backedS1 official primary (opens in new tab)
Delivery cost %
1.5%
FY2024
Source-backedS1 official primary (opens in new tab)

Single-store model

2/8 source-backed

Unit economics are a separate axis from company-level scale — never read as the same number. Each field keeps its source, period, and quality; derived/estimated rows and gaps are marked.

AUV / unit sales
Derived; not disclosed AUV.
Derived: gmv_or_system_sales_usd 451,645,121/224 = ~USD2,016,273/store.
FY2024_or_latest_L1
EstimatedNeeds source
Single-store profit
GAP — not fabricated.
—
GapSource (opens in new tab)
Initial investment
GAP — not fabricated.
—
GapSource (opens in new tab)
Franchise fee / royalty
GAP — not fabricated.
—
GapSource (opens in new tab)
Payback period
GAP — not fabricated.
—
GapSource (opens in new tab)
Same-store sales
GAP — not fabricated.
—
GapSource (opens in new tab)
Store open / close
GAP — not fabricated.
—
GapSource (opens in new tab)
Company-operated share
Inferred from model.
Model tier "direct_or_managed_estate" → inferred 1.0.
current
EstimatedNeeds source

Cost structure

6/6 source-backed

Where each revenue dollar goes, latest disclosed year. Slices use each operator's reported base — % of revenue unless the row notes otherwise (% of GMV, restaurant-level, franchise goods-supply COGS). Grey = not separately disclosed. This is a separate axis from company scale and single-store economics.

Food / COGS26.1%
FY2024· HK$3,292.0m rev; rent=combined ROU amort+rental line (ROU alone 12.7%); delivery handling charges lineS1 official primary (opens in new tab)Source-backed
Tai Hing HK+Mainland casual dining.
Labor36.1%
FY2024· HK$3,292.0m rev; rent=combined ROU amort+rental line (ROU alone 12.7%); delivery handling charges lineS1 official primary (opens in new tab)Source-backed
Tai Hing HK+Mainland casual dining.
Rent / occupancy15.3%
FY2024· HK$3,292.0m rev; rent=combined ROU amort+rental line (ROU alone 12.7%); delivery handling charges lineS1 official primary (opens in new tab)Source-backed
Tai Hing HK+Mainland casual dining.
Delivery commission1.5%
FY2024· HK$3,292.0m rev; rent=combined ROU amort+rental line (ROU alone 12.7%); delivery handling charges lineS1 official primary (opens in new tab)Source-backed
Tai Hing HK+Mainland casual dining.
Marketing0.9%
FY2024· HK$3,292.0m rev; rent=combined ROU amort+rental line (ROU alone 12.7%); delivery handling charges lineS1 official primary (opens in new tab)Source-backed
Tai Hing HK+Mainland casual dining.
Operating margin3.5%
FY2024· HK$3,292.0m rev; rent=combined ROU amort+rental line (ROU alone 12.7%); delivery handling charges lineS2 official secondary (opens in new tab)Estimated
Tai Hing HK+Mainland casual dining.
Not separately disclosed16.6%

Supply chain

Who supplies this brand — reverse-extracted from each supplier's own filing (top-customer / related-party disclosure). The % is the supplier's revenue share from this brand (supplier-side, not procurement spend), unless a note says otherwise. Each edge keeps its period, source tier, and audit link; named relationships without a disclosed % are shown as such.

No supplier relationships collected for this brand yet.

Peers in this segment

HaidilaoRevenue proxySKYLARK HOLDINGS CO.,LTD.Revenue proxyFOOD & LIFE COMPANIES LTD.Company-operated revenue (proxy)SAIZERIYA CO.,LTD.Revenue proxyTORIDOLL Holdings CorporationCompany-operated revenue (proxy)COLOWIDE CO.,LTD.Revenue proxy

Same segment — each operator keeps its own scale basis; this is navigation, not a like-for-like comparison.