Twin Peaks Expands in Florida with New Brandon Location Opened Feb. 17
Twin Peaks Restaurant
Ultimate sports lodge brings elevated game-day experience to Tampa suburb with 70 TVs, 24 beers on tap, and scratch-made food
BRANDON, Fla., Feb. 18, 2025 (GLOBE NEWSWIRE) -- Twin Hospitality Group Inc. (Nasdaq: TWNP), the parent company of Twin Peaks Restaurant, has expanded its footprint in the Sunshine State with the opening of a new lodge in Brandon, Florida, on Monday, Feb. 17, 2025. Known for its 29-degree draft beer, scratch-made food, and unmatched game-day atmosphere, Twin Peaks is pleased to bring its signature sports lodge experience to the local community.
The grand opening celebration will include a ribbon-cutting ceremony on Monday, Feb. 24, at 10:30 a.m., with local officials, community leaders, and members of the chamber of commerce in attendance.
Located at 136 Brandon Town Center Drive, the newest Twin Peaks features two indoor bars, an uncovered patio, 24 beers on tap, and 70 TVs, ensuring fans never miss a moment of the action.
With Twin Peaks' high-energy atmosphere, sports fans have plenty to look forward to—especially the drink specials that will be in full swing just as basketball season heats up. Guests can raise a glass to the action with Twin Peaks' elevated drink menu, featuring premium cocktails like the creamy Carajillo, Spicy Strawberry Margarita, Bourbon Espresso Martini, and refreshing Mai Tai.
'Twin Peaks continues to grow in key markets, and Brandon is a perfect fit for our sports lodge experience,' said Joe Hummel, CEO of Twin Hospitality Group. 'With our scratch-made menu, extensive beer selection, and wall-to-wall TVs, we're giving fans the perfect place to catch the game and enjoy great food and drinks. We're excited to welcome the Brandon community to their new go-to game-day destination.'
To view location details, stay up to date on game schedules, view menus, and check out current events and promotions, visit Twin Peaks Brandon's location site here.
Twin Hospitality Group Inc.
Twin Hospitality Group Inc. is a restaurant company that strategically develops and operates specialty casual dining restaurant concepts with a goal to redefine the casual dining category with its experiential driven brands. For more information, visit https://ir.twinpeaksrestaurant.com/.
About Twin Peaks
Founded in 2005 in the Dallas suburb of Lewisville, Twin Peaks has 115 locations in the U.S. and Mexico. Twin Peaks is the ultimate sports lodge featuring made-from-scratch food and the coldest beer in the business, surrounded by scenic views and wall-to-wall TVs. At every Twin Peaks, guests are immediately welcomed by a friendly Twin Peaks Girl and served up a menu made for MVPs. From its smashed and seared-to-order burgers to its in-house smoked brisket and wings, guests can expect menu items that satisfy every appetite. To learn more about franchise opportunities, visit twinpeaksfranchise.com. For more information, visit twinpeaksrestaurant.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the timing and performance of new store openings. Forward-looking statements reflect the expectations of management concerning the future and are subject to significant business, economic and competitive risks, uncertainties, and contingencies. These factors are difficult to predict and beyond our control and could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. We refer you to the documents that are filed from time to time by Twin Hospitality Group Inc. with the Securities and Exchange Commission, such as its Registration Statement on Form 10 and reports on Form 10-K, Form 10-Q and Form 8-K, for a discussion of these and other factors. We undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this press release.
Contact: Betsy DeMik, Champion(972) 930-9933; bdemik@championmgt.com
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Forward- looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's results of operations and financial condition; the Company's business strategies and plans; general market conditions, in particular, the game live streaming market; the ability of the Company to retain and grow active and paying users; changes in general economic and business conditions in China; any adverse changes in laws, regulations, rules, policies or guidelines applicable to the Company; and assumptions underlying or related to any of the foregoing. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law. Investor Relations Contact In China: Chenyang Yan DouYu International Holdings Limited Email: ir@ Tel: +86 (10) 6508-0677 Andrea Guo Piacente Financial Communications Email: douyu@ Tel: +86 (10) 6508-0677 In the United States: Brandi Piacente Piacente Financial Communications Email: douyu@ Tel: +1-212-481-2050 UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (All amounts in thousands, except share, ADS, per share and per ADS data)As of December 31As of June 30202420252025 ASSETS RMB RMBUS$ (1) Current assets:Cash and cash equivalents 1,017,1481,535,924214,407 Restricted cash 8317024 Short-term bank deposits 3,070,374583,72381,485 Accounts receivable, net 49,05755,4887,746 Prepayments 26,88524,7683,457 Amounts due from related parties 74,17565,1819,099 Other current assets, net 231,354234,95732,799 Total current assets 4,469,0762,500,211349,017 Non-current assets:Property and equipment, net 7,0935,635787 Intangible assets, net 60,91745,1946,309 Long-term bank deposits 360,000160,00022,335 Investments 456,815409,88557,218 Right-of-use assets, net 15,81613,0641,824 Other non-current assets 76,61676,06810,619 Total non-current assets 977,257709,84699,092 TOTAL ASSETS 5,446,3333,210,057448,109 LIABILITIES AND SHAREHOLDERS' EQUITY LIABILITIESCurrent liabilities:Accounts payable 498,667482,74667,389 Advances from customers 4,4443,293460 Deferred revenue 252,346244,02934,065 Accrued expenses and other current liabilities 242,517228,07731,837 Amounts due to related parties 222,589234,52932,739 Lease liabilities due within one year 11,45812,1321,694 Total current liabilities 1,232,0211,204,806168,184 Non-current liability:Lease liabilities 4,22322031 Total non-current liability 4,22322031 TOTAL LIABILITIES 1,236,2441,205,026168,215 (1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted,all translations from RMB to U.S. dollars are made at a rate of RMB7.1636 to US$1.00, the noon buying rate in effect on June 30, 2025, in theH.10 statistical release of the Federal Reserve Board. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED) (All amounts in thousands, except share, ADS, per share and per ADS data)As of December 31As of June 30202420252025RMB RMB US$ (1) SHAREHOLDERS' EQUITYOrdinary shares 20203 Additional paid-in capital 7,514,4985,363,717748,746 Accumulated deficit (3,791,817)(3,833,600)(535,149) Accumulated other comprehensive income 487,388474,89466,294 Total DouYu Shareholders' Equity 4,210,0892,005,031279,894 Total Shareholders' Equity 4,210,0892,005,031279,894 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 5,446,3333,210,057448,109(1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted,all translations from RMB to U.S. dollars are made at a rate of RMB7.1636 to US$1.00, the noon buying rate in effect on June 30, 2025, in theH.10 statistical release of the Federal Reserve Board. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (All amounts in thousands, except share, ADS, per share and per ADS data) Three Months EndedSix Months EndedJune 30, 2024March 31, 2025June 30, 2025June 30, 2025June 30, 2024June 30, 2025June 30, 2025RMBRMBRMBUS$ (1)RMBRMBUS$ (1) Net revenues 1,032,041947,0511,053,915147,1212,071,7252,000,966279,324 Cost of revenues (947,823)(833,543)(911,975)(127,307)(1,878,501)(1,745,518)(243,665) Gross profit 84,218113,508141,94019,814193,224255,44835,659 Operating (expense) income Sales and marketing expenses (76,963)(72,929)(61,585)(8,597)(152,533)(134,514)(18,777) General and administrative expenses (48,496)(35,787)(39,816)(5,558)(91,293)(75,603)(10,554) Research and development expenses (50,135)(32,749)(27,611)(3,854)(104,285)(60,360)(8,426) Other operating (expense) income, net (28,189)1,8151,318184(131,617)3,133437 Total operating expenses (203,783)(139,650)(127,694)(17,825)(479,728)(267,344)(37,320) (Loss) income from operations (119,565)(26,142)14,2461,989(286,504)(11,896)(1,661) Other (expenses) income, net (943)(58,554)9,4631,321(943)(49,091)(6,853) Interest income 75,97210,14119,2002,680157,06629,3414,096 Foreign exchange income (loss) 604258(17)(2)75724134 (Loss) income before income taxes and share of loss in equity method investments (43,932)(74,297)42,8925,988(129,624)(31,405)(4,384) Income tax expense (2,510)(5,134)(8,151)(1,138)(2,510)(13,285)(1,855) Share of (loss) income in equity method investments (2,727)(181)3,088431(4,988)2,907406 Net (loss) income (49,169)(79,612)37,8295,281(137,122)(41,783)(5,833) Net (loss) income attributable to ordinary shareholders of the Company (49,169)(79,612)37,8295,281(137,122)(41,783)(5,833) Net (loss) income per ordinary shareBasic (1.58)(2.64)1.250.17(4.36)(1.38)(0.19) Diluted (1.58)(2.64)1.250.17(4.36)(1.38)(0.19) Net (loss) income per ADS(2)Basic (1.58)(2.64)1.250.17(4.36)(1.38)(0.19) Diluted (1.58)(2.64)1.250.17(4.36)(1.38)(0.19) Weighted average number of ordinary shares used in calculating net (loss) income per ordinary share Basic 31,128,54430,178,85930,178,85930,178,85931,467,86230,178,85930,178,859 Diluted 31,128,54430,178,85930,178,85930,178,85931,467,86230,178,85930,178,859 Weighted average number of ADS used in calculating net (loss) income per ADS(2) Basic 31,128,54430,178,85930,178,85930,178,85931,467,86230,178,85930,178,859 Diluted 31,128,54430,178,85930,178,85930,178,85931,467,86230,178,85930,178,859(1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted, all translationsfrom RMB to U.S. dollars are made at a rate of RMB7.1636 to US$1.00, the noon buying rate in effect on June 30, 2025, in the H.10 statistical release of theFederal Reserve Board. (2) Each ADS represents one ordinary share. RECONCILIATIONS OF GAAP AND NON-GAAP RESULTS (All amounts in thousands, except share, ADS, per share and per ADS data) Three Months EndedSix Months EndedJune 30, 2024March 31, 2025June 30, 2025June 30, 2025June 30, 2024June 30, 2025June 30, 2025RMBRMBRMBUS$ (1)RMBRMBUS$ (1) (Loss) income from operations (119,565)(26,142)14,2461,989(286,504)(11,896)(1,661) Adjusted operating (loss) income (non-GAAP) (119,565)(26,142)14,2461,989(286,504)(11,896)(1,661) Net (loss) income (49,169)(79,612)37,8295,281(137,122)(41,783)(5,833) Add:Share of income (loss) in equity method investments 2,727181(3,088)(431)4,988(2,907)(406) Impairment losses and fair value adjustments oninvestments (2) 94358,554(9,463)(1,321)94349,0916,853 Adjusted net (loss) income (non-GAAP) (45,499)(20,877)25,2783,529(131,191)4,401614 Net (loss) income attributable to DouYu (49,169)(79,612)37,8295,281(137,122)(41,783)(5,833) Add:Share of income (loss) in equity method investments 2,727181(3,088)(431)4,988(2,907)(406) Impairment losses and fair value adjustments oninvestments 94358,554(9,463)(1,321)94349,0916,853 Adjusted net (loss) income attributable to DouYu (45,499)(20,877)25,2783,529(131,191)4,401614 Adjusted net (loss) income per ordinary share (non-GAAP) Basic (1.46)(0.69)0.840.12(4.17)0.150.02 Diluted (1.46)(0.69)0.840.12(4.17)0.150.02 Adjusted net (loss) income per ADS(3)(non-GAAP) Basic (1.46)(0.69)0.840.12(4.17)0.150.02 Diluted (1.46)(0.69)0.840.12(4.17)0.150.02 Weighted average number of ordinary shares used in calculating Adjusted net (loss) income per ordinary share Basic 31,128,54430,178,85930,178,85930,178,85931,467,86230,178,85930,178,859 Diluted 31,128,54430,178,85930,178,85930,178,85931,467,86230,178,85930,178,859 Weighted average number of ADS used in calculating net (loss) income per ADS(2) Basic 31,128,54430,178,85930,178,85930,178,85931,467,86230,178,85930,178,859 Diluted 31,128,54430,178,85930,178,85930,178,85931,467,86230,178,85930,178,859(1) Translations of certain RMB amounts into U.S. dollars at a specified rate are solely for the convenience of the reader. Unless otherwise noted, alltranslations from RMB to U.S. dollars are made at a rate of RMB7.1636 to US$1.00, the noon buying rate in effect on June 30, 2025, in the H.10 statistical release of the Federal Reserve Board. (2) Impairment losses and fair value adjustments on investments were included in line item "Other expenses, net" of condensed consolidated statements ofincome (loss). (3) Each ADS represents one ordinary share. View original content: SOURCE DouYu International Holdings Limited Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
