Core Viewpoint - The company reported a modest growth in revenue and net profit for Q2 2025, driven by improved operational efficiency and a positive trend in same-store sales after a challenging period [1][2][3]. Financial Performance - In Q2 2025, the company achieved revenue of $2.787 billion, a year-on-year increase of 4% [1] - Net profit for the same period was $215 million, reflecting a 1% year-on-year growth [1] - The operating profit margin and net profit margin were 10.9% and 7.7%, showing a year-on-year increase of 1.0 percentage points and a slight decline of 0.2 percentage points, respectively [1] Same-Store Sales and Transaction Volume - The company recorded a 1% positive growth in same-store sales for Q2 2025, with same-store transaction volume increasing by 2% [2] - The average transaction value per store decreased by 1%, primarily due to an increase in small orders driven by delivery subsidies, particularly in the beverage category [2] - This marks the first positive same-store sales growth since 2024, following a period of negative growth [2] Operational Efficiency - The company experienced a dual increase in operating profit margin and restaurant profit margin, with the latter reaching 16.1%, up by 0.6 percentage points year-on-year [2] - KFC's restaurant profit margin was 16.9%, up by 0.7 percentage points, benefiting from improved supply chain efficiency [2] - Pizza Hut's restaurant profit margin was 13.3%, with a 0.1 percentage point increase, marking five consecutive quarters of year-on-year profit margin improvement [2] Store Expansion and Capital Expenditure - The company maintains its guidance for 1,600 to 1,800 net new stores for the year, while lowering its capital expenditure guidance [3] - The proportion of franchise stores among new openings for KFC and Pizza Hut is expected to reach 40%-50% and 20%-30%, respectively [3] - Single-store investment costs have decreased, with KFC's single-store investment down to $1.4 million and Pizza Hut's to $1.1 million, which helps free up cash flow and expand franchise opportunities [3] Shareholder Returns - The company plans to return at least $1.2 billion to shareholders in 2025, with $536 million already returned in the first half of the year [3] - This includes $356 million in share buybacks and $180 million in cash dividends [3] - The company has $936 million remaining in buyback authorization as of June 30, 2025, and aims for a total of $3 billion in buybacks and dividends over the next two years [3] Profit Forecast - The company forecasts net profits of $934 million, $1.013 billion, and $1.138 billion for 2025-2027, with year-on-year growth rates of 2.5%, 8.5%, and 12.3%, respectively [3] - The current stock price corresponds to price-to-earnings ratios of 19, 16, and 14 for the respective years [3]

Major Events - Tianyue Advanced (02631) plans to globally offer 47.7457 million H-shares from August 11 to August 14 [1] - Hengrui Medicine (01276) has its injection drugs listed in the proposed breakthrough treatment varieties public notice [1] - Shoucheng Holdings (00697) invests in Southern Universal Data Center REIT and Southern Runze Technology Data Center REIT [1] - Boyaa Interactive (00434) is included in the MSCI Global Small Cap Index [1] Financial Performance - Yum China (09987) reports a net profit of $507 million, an increase of 1.6% year-on-year [1] - Master Kong Holdings (00322) announces a profit attributable to shareholders of 2.271 billion yuan, up 20.5% year-on-year [1] - Q Tech (01478) reports a profit of 308 million yuan, a significant increase of 167.59% year-on-year [1] - Hang Wan Technology (01523) announces a net profit of approximately $21.665 million, up about 13.4% year-on-year, with a dividend of 12.34 HK cents per share [1] - Ruipu Lanjun (00666) reports a gross profit of approximately 829 million yuan, a year-on-year growth of 177.8% [1] - Kingdee International (00268) sees a revenue increase of 11.24% to 3.192 billion yuan, with strong growth in cloud business [1] - Yuyuan Group (00551) reports a profit attributable to shareholders of $171 million, a decrease of 7.2% year-on-year [1] - Boyaa Interactive (00434) reports a profit attributable to shareholders of 226 million HKD, down 27.8% year-on-year [1] - Chongqing Machinery and Electric (02722) expects a net profit attributable to shareholders to increase by about 50% year-on-year [1] - Anton Oilfield Services (03337) anticipates a significant profit increase of 41.6% to 60.5% year-on-year [1] - Sany International (00631) expects a net profit of approximately 1.234 billion to 1.332 billion yuan, an increase of 25% to 35% year-on-year [1] - Datang Renewable (01798) reports a cumulative power generation of approximately 21.3563 million MWh in the first seven months, an increase of 11.75% year-on-year [1] - China Jinmao (00817) reports a cumulative contracted sales amount of 61.807 billion yuan in the first seven months, up 23.12% year-on-year [1] - New Town Development (01030) reports a cumulative contract sales amount of approximately 11.99 billion yuan in the first seven months, down 55.66% year-on-year [1] - Dongfeng Motor Group (00489) reports automobile sales of approximately 978,500 units in the first seven months, a decrease of about 8.9% year-on-year [1] - Hopson Development Holdings (00754) reports a total contracted sales amount of approximately 9.047 billion yuan in the first seven months, down 12.49% year-on-year [1] - Yuyuan Group (00551) reports a net operating income of approximately $667.5 million in July, a year-on-year decrease of 1.9% [1]

门店规模方面，百胜中国表示，公司净新增门店583家，其中加盟店净新增151家，占比26%。截至2025 年6月30日，门店总数达16978家，其中肯德基门店总数达12238家，必胜客门店总数达3864家。 展望2025年业绩，2025财年，百胜中国预计净新增1600至1800家门店，资本支出约6亿至7亿美元。同 时，2025年，公司预计肯德基和必胜客净新增门店中加盟店的占比将分別达到40–50%和20–30%，提前 达成先前目标。另外，公司预计在2025年至2026年间向股东回馈30亿美元，其中2025年至少12亿美元。 北京商报讯（记者 张天元）8月11日，百胜中国发布截至2025年6月30日止六个月的中期业绩公告。数 据显示，百胜中国总收入同比增长2%至58亿美元，或增长3%，不计及外币换算影响；经营利润同比增 长10%至7.03亿美元；核心经营利润同比增长11%。 ...

Core Viewpoint - Yum China (09987) reported a total revenue of $5.768 billion for the six months ending June 30, 2025, representing a year-on-year increase of 2.32% [1] - The net profit for the same period was $507 million, reflecting a year-on-year increase of 1.6% [1] - Diluted earnings per share for ordinary shares stood at $1.35 [1] Financial Performance - Operating profit grew by 10% or 11% (excluding foreign currency translation effects), driven by increased total revenue, favorable raw material prices, and operational efficiency improvements [1] - The increase in operating profit was partially offset by rising delivery costs due to a higher proportion of affordable products and increased sales from delivery services, as well as low single-digit wage increases [1] Store Expansion and Capital Expenditure - For the fiscal year 2025, the company expects to add approximately 1,600 to 1,800 new stores, with capital expenditures estimated between $600 million to $700 million, a reduction from the initial target of $700 million to $800 million due to optimized single-store investment costs [1] - The company anticipates that the proportion of franchise stores among the net new stores for KFC and Pizza Hut will reach 40-50% and 20-30%, respectively, ahead of previous targets [1] Shareholder Returns - Following a $1.5 billion return to shareholders in 2024, the company plans to return $3 billion to shareholders between 2025 and 2026 [1] - The expected total shareholder return for 2025 is at least $1.2 billion [1]

百胜中国港交所公告，上半年系统销售额同比增长3%，不计及外币换算影响。该增长主要得益于净新 增门店贡献。同店销售额达去年同期水平的100%。总收入同比增长2%至58亿美元，或增长3%，不计及 外币换算影响。净新增门店583家，其中加盟店净新增151家，占比26%。截至2025年6月30日，门店总 数达16,978家，其中肯德基门店总数达12,238家，必胜客门店总数达3,864家。经营利润同比增长10%至 7.03亿美元。核心经营利润同比增长11%。截至2025年6月30日止六个月向股东回馈5.36亿美元，其中包 括3.56亿美元的股票回购和1.8亿美元的现金股息。 本文源自：金融界AI电报 ...

智通财经APP讯，百胜中国(09987)发布截至2025年6月30日止6个月的中期业绩，该集团取得总收入 57.68亿美元，同比增加2.32%;净利润5.07亿美元，同比增加1.6%;每股普通股摊薄盈利1.35美元。 截至2025年6月30日止6个月，经营利润增长10%或11%(不计及外币换算的影响)，主要得益于总收入增 加、有利的原材料价格及精简营运带来的效率提升，部分被高性价比产品增加、本期间外卖销售占比提 升导致的外送成本上升及低个位数的工资上涨所抵销。 2025财年，公司预计净新增约1600至1800家门店，资本支出介乎约6亿至7亿美元之间，较初始的7亿至8 亿美元的目标有所下调，主要因为单店投资成本的优化。 公司计划在2024年已回馈15亿美元的基础上，在2025年至2026年间向股东回馈30亿美元。公司预期2025 年全年的股东回馈为至少12亿美元。 2025年，公司预计肯德基和必胜客净新增门店中加盟店的占比将分别达到40–50%和20–30%，提前达成 先前目标。未来几年，我们计划在既定目标范围内适当提高净新增门店中的加盟占比。 ...

Core Viewpoint - Yum China reported a total revenue of $5.8 billion for the six months ending June 30, 2025, representing a year-on-year growth of 2%, or 3% excluding foreign exchange impact [1] Financial Performance - Operating profit increased by 10% to $703 million, with core operating profit rising by 11% [1] - Operating profit margin improved by 80 basis points to 12.2%, driven by an increase in restaurant profit margins [1] - Diluted earnings per share grew by 7% to $1.35, or 8% excluding foreign exchange impact; adjusted for a $0.07 equity investment valuation and foreign exchange effects, diluted earnings per share increased by 13% [1] Shareholder Returns - The company returned $536 million to shareholders, which included $356 million in stock buybacks and $180 million in cash dividends [1] Sales Performance - System sales rose by 3% excluding foreign exchange impact, primarily due to contributions from net new stores [1] - Same-store sales reached 100% of the level from the same period last year [1] Store Expansion - A total of 583 net new stores were added, with 151 of these being franchise stores, accounting for 26% of the total [1] - As of June 30, 2025, the total number of stores reached 16,978, including 12,238 KFC stores and 3,864 Pizza Hut stores [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示概不會就本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何 責任。 Yum China Holdings, Inc. 百勝中國控股有限公司 （於美利堅合眾國特拉華州註冊成立的有限公司） （股份代號：9987） 截 至 2025 年 6 月 3 0 日止六個月之中期業績公告 百勝中國控股有限公司（「本公司」或「百勝」）（紐交所代號：YUMC及港交所代號：9987）謹此發佈本公司 截至2025年6月30日止六個月（「報告期」）的未經審核簡明合併業績，連同2024年同期可對比數字，該等 資料乃根據美國公認會計準則編製，並由本公司董事會（「董事會」）下屬審計委員會審閱。 承董事會命 百勝中國控股有限公司 屈翠容 董事及首席執行官 香港，2025年8月11日 於本公告日期，本公司董事會包括董事會主席及獨立董事胡祖六博士、執行董事屈翠容女士、非執行董 事Robert B. AIKEN先 生、 以 及 獨 立 董 事Mikel A. DURHAM女 士、Edouard ETTEDGUI ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _________________ Commission file number 001-37762 Yum China Holdings, Inc. (Exact Name of Registrant as Specified in Its Charter) (State or O ...

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [5] Core Views - The company has achieved positive same-store sales growth for the first time since 2024, driven by an increase in transaction volume. In Q2 2025, same-store sales grew by 1%, with transaction volume up by 2%, although the average transaction value declined by 1% due to increased small orders from delivery subsidies [7] - Operational efficiency improvements have led to a continuous rise in restaurant profit margins. The operating profit margin for Q2 was 10.9%, up by 1.0 percentage point year-on-year, while the restaurant profit margin reached 16.1%, an increase of 0.6 percentage points [7] - The company maintains its guidance for a net addition of 1,600 to 1,800 new stores for the year, while lowering capital expenditure guidance. The investment cost per store has decreased, with KFC's cost down to 1.4 million and Pizza Hut's down to 1.1 million [7] - The company plans to return at least $1.2 billion to shareholders through dividends and buybacks in 2025, reflecting confidence in its financial position [7] - Earnings forecasts for 2025-2027 project net profits of $933.54 million, $1.01275 billion, and $1.13752 billion respectively, with corresponding growth rates of 2.5%, 8.5%, and 12.3% [7] Financial Summary - As of August 8, 2025, the company's closing price was HKD 360.00, with a market capitalization of HKD 132,960.66 million. The asset-liability ratio stands at 41.10% [3][6] - Revenue projections for 2025 are estimated at $11,763.26 million, with a year-on-year growth rate of 4.1% [6][8] - The company reported a Q2 2025 revenue of $2.787 billion, a 4% increase year-on-year, and a net profit of $215 million, a 1% increase year-on-year [7]