Tim Ho Wan

What Tim Ho Wan does

Tim Ho Wan is a Hong Kong-headquartered dim sum restaurant chain founded in 2009 by Chef Mak Kwai Pui and Chef Leung Fai Keung, formerly of the Four Seasons. The company operates 85 stores across 11 markets, including Hong Kong (10 stores), Singapore (9 stores), the United States (5 stores), the Philippines, China, Japan, Australia, and other regional markets. Its core offering is traditional Cantonese dim sum, with the Signature Baked BBQ Pork Bun as its most recognized item, alongside a broader menu spanning steamed dumplings, baked and fried dim sum, rice rolls, congee, noodles, and roast specialties. The brand earned a Michelin star in 2010 at its original Sham Shui Po location and retained the distinction consecutively through 2021.

The business generates revenue through dine-in and takeaway sales at company-owned and franchise locations, supplemented by food delivery orders via third-party platforms including Grab Food, Foodpanda, Deliveroo, DoorDash, Uber Eats, and Postmates. Pricing is per-dish at casual-dining price points, with menu items in Singapore reportedly ranging from approximately SGD 5-15. Tim Ho Wan does not operate a proprietary technology platform; its operations are anchored in handmade dim sum preparation, standardized chef training, and physical store presence in high-traffic retail and tourist locations.

In January 2025, Tim Ho Wan was fully acquired by Jollibee Foods Corporation, a Philippine-listed restaurant conglomerate, for S$20.2 million. Under Jollibee ownership, the brand has accelerated expansion, doubling its Hong Kong store count, setting a target of 20 North American stores by 2028, and reporting a 4x quarterly EBITDA increase and 5.2% system-wide sales growth in Q3 2025. Jollibee has signaled a potential spinoff and listing of its international business unit, which includes Tim Ho Wan, on Hong Kong or US exchanges by the end of 2027.

Name

Tim Ho Wan

Legal name

Tim Ho Wan Limited / Tim Ho Wan Pte. Ltd.

Website

https://timhowan.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Cantonese Dim Sum Restaurant

NAICS

Limited-Service Restaurants (722513), Restaurants and Other Eating Places (7225), Full-Service Restaurants (722511)

SIC

Retail-Eating Places (5812), Retail-Eating & Drinking Places (5810)

akta.pro primary industry

Sandwiches & Subs QSR (THAFAAAD)

Keywords

• Cantonese dim sum
• Dim sum restaurant
• Hong Kong cuisine
• Chinese dumplings
• Casual dining

Headquarters

HQ city

Hong Kong

HQ country

Hong Kong SAR China

HQ region

Asia

Offices7 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Restaurant Sales (Dine-in and Takeaway): Tim Ho Wan generates revenue primarily through dine-in and takeaway sales at its physical restaurant locations. The brand operates 85 stores across 11 markets including Hong Kong, Singapore, USA, Philippines, China, Japan, and Australia.
2. Food Delivery: Revenue from third-party delivery platforms including Grab Food, Foodpanda, Deliveroo (Singapore), DoorDash, Uber Eats, Postmates (USA). Customers order through aggregator apps and Tim Ho Wan prepares food for delivery.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Tim Ho Wan is a Michelin-starred Hong Kong dim sum restaurant chain that operates dine-in and takeaway service across 85 locations in 11 markets, serving traditional Cantonese dim sum including its signature baked barbecue pork buns, steamed dumplings, rice rolls, congee, and roasted specialties. The brand also generates revenue through online ordering and food delivery partnerships with platforms including Grab Food, Foodpanda, Deliveroo, DoorDash, and Uber Eats.

Product overview

Tim Ho Wan is a Michelin-starred Hong Kong dim sum restaurant chain that operates as a multi-location restaurant brand offering traditional Cantonese dim sum. The company's core product is its dine-in and takeaway dim sum service, with signature items like the Baked Barbecue Pork Buns being the most celebrated dish. The product portfolio spans steamed dim sum (har gow, siu mai), baked and fried items (egg tarts, spring rolls), rice rolls, congee and rice dishes, noodles, and roast specialties. Tim Ho Wan also provides online ordering through integrations with food delivery platforms including Grab Food, Foodpanda, Deliveroo, DoorDash, Uber Eats, and Postmates. The brand operates locations across Hong Kong, Singapore, and the United States.

Differentiator

Problem solved

Functional benefit

Products and services

• Tim Ho Wan Dim Sum Restaurant Service Dine-in and takeaway service offering traditional Cantonese dim sum across 85 locations in Hong Kong, Singapore, USA, Philippines, China, Japan, Australia, Malaysia, Taiwan, Vietnam, and Korea. Targets individual consumers seeking authentic Hong Kong dim sum at accessible prices.
• Signature Baked Barbecue Pork Buns Tim Ho Wan's signature baked BBQ pork bun, an iconic dish available across all locations, recognized globally as the brand's most celebrated menu item that contributed to Michelin-star recognition.
• Online Ordering Platform Digital ordering platform that allows customers to order Tim Ho Wan dim sum for delivery or pickup, with integrations to food delivery services including Grab Food, Foodpanda, Deliveroo, DoorDash, Uber Eats, Postmates, and Hyperflyer.

Quantifiable outcome

• 5.2% system-wide sales growth in Q3 2025 vs first half
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Partnerships

Five partnerships are on record, tiered minor.

• Grab HoldingsminorChannel Partner/ Reseller/ DistributorGrab Food delivery partnership enabling Tim Ho Wan Singapore customers to order via the Grab app for home delivery.
• FoodpandaminorChannel Partner/ Reseller/ DistributorFoodpanda delivery partnership enabling Tim Ho Wan customers in Singapore and other markets to order via the Foodpanda platform.
• DeliveroominorChannel Partner/ Reseller/ DistributorDeliveroo delivery partnership enabling Tim Ho Wan Singapore customers to order via the Deliveroo platform for home delivery.
• DoorDashminorChannel Partner/ Reseller/ DistributorDoorDash delivery partnership enabling Tim Ho Wan USA customers to order via the DoorDash platform for home delivery.
• Uber EatsminorChannel Partner/ Reseller/ DistributorUber Eats delivery partnership enabling Tim Ho Wan USA customers to order via the Uber Eats platform for home delivery.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Din Tai Fung: Taiwanese-founded global dim sum and xiao long bao chain with strong brand recognition in Asia and the US. Directly comparable to Tim Ho Wan as a premium casual Chinese dumpling/dim sum operator pursuing global expansion, with similar product categories and price points.
• Crystal Jade: Singapore-headquartered Cantonese and dim sum restaurant group with multiple brands spanning casual to fine dining across Asia. Directly comparable to Tim Ho Wan on cuisine category, regional footprint, and casual-to-premium positioning in Asian markets.
• Panda Express: Largest Chinese-American QSR chain in the US with thousands of locations. Comparable to Tim Ho Wan as a globally scaling Chinese cuisine operator targeting mainstream Western consumers, with overlap in target customer demographics and US expansion strategy.
• Haidilao International Holding: Chinese hot pot chain with global presence across Asia, North America, and Europe. Comparable to Tim Ho Wan as a globally scaling Chinese casual dining brand with strong service culture and international expansion ambitions, though differentiated by hot pot category.
• Lei Garden Restaurant: Hong Kong-based Cantonese fine dining restaurant group with international locations. Comparable to Tim Ho Wan on cuisine (Cantonese) and Hong Kong origin, though positioned at the premium dining tier rather than casual dim sum.

Broad incumbents

• Jollibee Foods Corporation: Philippine-listed fast-food conglomerate and Tim Ho Wan's parent company. Operates an extensive portfolio of QSR brands including Jollibee, Chowking, and Red Ribbon. Comparable as a multi-brand Asian restaurant operator, though the parent operates in QSR rather than dim sum.
• Yum China Holdings: Operator of KFC China, Pizza Hut China, and Taco Bell China with thousands of locations across China. Comparable as a major Chinese-market restaurant operator with significant scale, though it operates Western QSR brands rather than authentic Chinese cuisine like Tim Ho Wan.

Regional players

• Maxim's Caterers: Hong Kong's largest restaurant and bakery group with hundreds of outlets across Chinese cuisine, dim sum, and Western concepts. Comparable to Tim Ho Wan on Hong Kong Cantonese cuisine and dim sum operations, with broader category exposure.

Emerging players

• Xi'an Famous Foods: US-based Chinese noodle and dumpling QSR chain expanding across the East Coast. Comparable to Tim Ho Wan as a growing Chinese noodle/dumpling concept in the US market, though with narrower cuisine focus and smaller footprint.

Others

• Toast TakeOut: Restaurant technology platform providing online ordering, delivery management, and POS solutions. Comparable to Tim Ho Wan only as an adjacent enabler of digital ordering and delivery economics, not a direct competitor.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/timhowansg
• LinkedInlinkedin.com/company/timhowan
• Instagraminstagram.com/timhowan.hk/, https://www.instagram.com/timhowan_sg, https://www.instagram.com/timhowanusa
• TikToktiktok.com/@timhowan_sg
• Xx.com/timhowanph

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tim Ho Wan