FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 百勝中國控股有限公司("本公司") 呈交日期： 2025年9月10日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | | 09987 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | 每 ...

Group 1 - Yum China announced a share buyback on September 8, 2025, spending HKD 20.286 million to repurchase 57,600 shares [1] - The buyback price ranged from HKD 349.4 to HKD 353.6 per share [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 百勝中國控股有限公司("本公司") 呈交日期： 2025年9月9日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 09987 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 事件 | | | 已發行股份（不包括庫存股份）變動 | 佔有關事件前的現有已發 | 庫存股份變動 | 每股發 ...

Group 1 - The article reports on stock buybacks conducted by various companies on September 5, 2025, with Tencent Holdings (00700) leading in both the number of shares repurchased and the total amount spent [1][2] - Tencent Holdings repurchased 913,000 shares for a total of 551 million, representing 0.558% of its total share capital [2] - Other notable companies involved in buybacks include China Hongqiao (01378) with 1.276 million shares repurchased for 31.57 million, and Midea Group (N23078) with 300,000 shares for 25.83 million [2] Group 2 - The total number of shares repurchased by China Hongqiao reached 146 million, accounting for 1.560% of its total share capital [2] - Midea Group's cumulative buyback for the year stands at 863,400 shares, which is 0.133% of its total share capital [2] - Other companies such as Yum China (09987) and MGM China (02282) also participated, with Yum China repurchasing 57,700 shares for 20.13 million and MGM China repurchasing 1 million shares for 15.78 million [2]

Summary of Key Points Core Viewpoint - Yum China (09987) announced a share buyback program, indicating confidence in its stock value and commitment to returning capital to shareholders [1] Financial Actions - The company repurchased 57,700 shares at a total cost of HKD 20,130,400, with a per-share price range of HKD 346.4 to HKD 351.4 [1] - Additionally, Yum China spent USD 1,036,940 to buy back 230,700 shares, with a per-share price range of USD 44.65 to USD 45.47 [1] - The company also issued 504 shares under its long-term incentive plan and canceled 233,500 shares that had been repurchased [1]

Group 1 - The company Yum China (09987) announced a share buyback on September 5, 2025, spending HKD 20.13 million to repurchase 57,700 shares at a price range of HKD 346.4 to 351.4 per share [1] - On the same day, the company also repurchased 230,700 shares for USD 1.03694 million, with a price range of USD 44.65 to 45.47 per share [1] - Additionally, the company issued 504 shares under its long-term incentive plan and canceled 233,500 shares that had been repurchased [1]

Group 1 - Company announced a share repurchase on September 5, 2025, costing HKD 20.13 million [1] - A total of 57,700 shares were repurchased at a price range of HKD 346.4 to HKD 351.4 per share [1]

公司名稱： 百勝中國控股有限公司("本公司") 呈交日期： 2025年9月7日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 09987 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 事件 | | | 已發行股份（不包括庫存股份）變動 | 佔有關事件前的現有已發 | 庫存股份變動 | 每股發行/出售價 (註4) | 已發行股份總數 | | | | | 已發行股份（不包括庫存股份）數 目 | | 行股份（不包括庫存股 份）數目百分比 ...

Core Viewpoint - The pricing discrepancy between iced and hot soy milk at KFC has sparked widespread consumer debate, with many questioning the rationale behind the higher price for iced soy milk, leading to complaints and even product withdrawals in some locations [1][4][5]. Pricing Discrepancy - KFC has maintained that iced soy milk is priced higher than hot soy milk due to a difference in cup size and capacity, with iced soy milk being approximately 1/4 larger [3][4]. - Industry analysts suggest that the higher cost for iced drinks is justified by the increased energy consumption for refrigeration and the complexity of the ice-making process [4]. Customer Complaints - KFC has faced a significant number of customer complaints, totaling over 20,000, primarily related to food quality, service issues, and after-sales support [5]. - Specific complaints include the presence of foreign objects in food, unresponsive customer service, and complicated refund processes, indicating a gap between service quality and consumer expectations [5]. Sales Performance - KFC remains a crucial revenue source for Yum China, contributing approximately 70% of its total revenue. In the first half of 2025, KFC's sales grew by 4% year-on-year, with total revenue reaching $43.42 billion [6][7]. - The growth in sales is largely attributed to the expansion of store locations rather than organic growth, with KFC's store count reaching 12,238 by mid-2025 [7]. Store Expansion and New Ventures - KFC is accelerating its store expansion, with a net addition of 295 stores in the second quarter of 2025 and a significant increase in franchise stores, which accounted for 39% of new openings [7]. - The company is also diversifying its offerings by launching new sub-brands, such as "Fried Chicken Brothers," indicating a strategic move to capture more market segments [8].

Core Viewpoint - The pricing discrepancy between iced and hot soy milk at KFC has sparked widespread consumer confusion and criticism, with many questioning the rationale behind the higher price for iced soy milk, leading to increased customer complaints and even the removal of the iced product from some locations [2][4][6]. Pricing Discrepancy - KFC has maintained a pricing policy where iced soy milk is priced one yuan higher than hot soy milk, which has been a longstanding practice [2][7]. - Some KFC staff indicated that the difference in cup size and capacity accounts for the price variation, although specific measurements were not provided [2][7]. Customer Complaints - KFC has faced a significant number of customer complaints, with over 20,000 reported issues related to food quality, service, and order errors, indicating a gap between service quality and consumer expectations [8][9]. - Complaints include the presence of foreign objects in food, unresponsive customer service, and complicated refund processes, which have contributed to negative consumer experiences [9]. Sales Performance - Despite quality control issues, KFC continues to expand aggressively, with a reported 3% increase in sales and a 2% increase in total revenue to $5.8 billion in the first half of 2025 [11]. - The growth in sales is primarily attributed to store expansion rather than organic growth, with KFC's store count reaching 12,238 and a net addition of 295 stores in the second quarter [12]. New Market Strategies - KFC is diversifying its offerings by entering the fried chicken market with new stores branded as "Fried Chicken Brothers," indicating a strategic shift to adapt to market changes [14]. - The company is also increasing its focus on franchise operations, with a goal of having 40-50% of new stores as franchises in the coming years [12].