Comprehensive Overview

The group has two self-operated brands, “Tam Tsai Yunnan Rice Noodle” and “Tam Tsai Sango Rice Noodle”. It currently operates 156 restaurants, including 76 Tam Tsai restaurants covering the 18 districts of Hong Kong, Kowloon and New Territories, 74 Three Go restaurants, three Tan Tsai restaurants in Shenzhen, mainland China, and three Three Go restaurants in Singapore. According to Euromonitor statistics, based on revenue, the Group ranked first in the Hong Kong Asian noodle specialty store market in 2020, with a market share of 64.4%. The average daily revenue per restaurant was $37,369, the average number of daily customers was 640, and the average per capita consumption was $58.4.

Risk Factors

Affected by the COVID-19 pandemic, since the beginning of 2020, group traffic has generally declined. At the same time, dine-in orders have been converted to takeout and takeout to customers. Usually, online takeout platforms charge a certain fee, but groups may not be able to transfer some or all of these costs to customers through price adjustments, and profitability may be significantly adversely affected. The group recently expanded to the mainland China and Singapore markets, and is currently planning to expand into the Japanese and Australian markets. In new markets, we may face different consumer preferences and consumption patterns.