热点聚焦 1.十四届全国人大常委会第十二次会议4日上午在北京人民大会堂举行第一次全体会议。赵乐际委员长 主持。会议审议学前教育法草案、文物保护法修订草案等。会议审议了国务院关于提请审议增加地方政 府债务限额置换存量隐性债务的议案。受国务院委托，财政部部长蓝佛安作了说明。全国人大财政经济 委员会副主任委员许宏才作了关于该议案的审查结果报告。 2.截至10月20日，中国上市公司(A股和港股)今年的回购金额首次超过股权融资规模，其中A股市场回购 金额已达1482亿元，港股市场回购金额更高达2021亿元，两者均创下历史新高，合计达到3503亿元。与 此同时，A股市场的股权融资规模为2364亿元，港股市场的股权融资规模为1128亿元，两者合计为3492 亿元。所以，3503亿元超过3492亿元，总的回购金额首次超过了股权融资规模。 3.11月4日，国务院国资委党委召开扩大会议。会议要求，要统筹当前和长远，切实抓好各项政策措施 的落实落地，打好稳增长组合拳，确保中央企业全年改革发展目标任务圆满完成，全力为稳预期、强信 心、促发展作出积极贡献。要紧盯目标狠抓提质增效，落实落细提质增效专项行动，指导企业用好用足 相关支持政策 ...

Summary of Yum! China 3rd Quarter 2024 Earnings Conference Call Company Overview - **Company**: Yum! China - **Quarter**: 3rd Quarter 2024 Key Industry Insights - **Industry**: Fast Food and Restaurant Sector in China - **Market Dynamics**: The restaurant industry continues to grow, with global players investing aggressively in the Chinese market. There is a trend of rationalizing promotional intensity among competitors, and some aggressive players are slowing down store openings [16][19]. Core Financial Performance - **System Sales Growth**: Grew by 4% year-over-year [2][8]. - **Same-Store Sales Index**: Improved to 97% of the prior year's level [1][8]. - **Delivery Sales**: Achieved double-digit growth for 10 consecutive years, with delivery sales reaching around 40% of the sales mix in Q3 [2][4]. - **Operating Profit**: Grew by 18% year-over-year, with diluted EPS increasing by 32% [2][8]. - **Revenue**: $8.7 billion in the first nine months, with over $1 billion in operating profit [2][5]. - **Net Income**: $297 million, growing 21% year-over-year [10]. Strategic Initiatives - **RGM 2.0 Strategy**: Focus on operational efficiency and innovation, leading to improved margins and customer satisfaction [2][3]. - **Project FreshEye and Project RedEye**: Aimed at enhancing operational efficiency through process evaluation and innovative technology [3][4]. - **Store Expansion**: Opened 438 net new stores in Q3, totaling over 1,200 new stores year-to-date, on track to meet the target of 1,500 to 1,700 new stores for the year [6][12]. Brand Performance KFC - **System Sales Growth**: Increased by 6% year-over-year [8]. - **Same-Store Sales**: Reached 98% of prior year levels with a 1% same-store transaction growth [8]. - **New Product Innovations**: Successful introduction of new items like the original recipe chicken burger and curry gravy chicken [4][5]. - **Franchise Development**: Currently, franchisees represent 12% of KFC's store portfolio, with plans to increase this to 40-50% over the next few years [7][17]. Pizza Hut - **System Sales Growth**: Increased by 2% year-over-year [8]. - **Same-Store Sales**: At 94% of prior year levels, with a 4% same-store transaction growth [8]. - **New Store Formats**: Introduction of the Pizza Hut WOW model, which has shown promising initial results [6][20]. - **Durian Pizza Success**: Durian pizza has become the number one best-selling pizza, with nearly 30 million sold year-to-date [5][6]. Capital Return Strategy - **Shareholder Returns**: Over $1.2 billion returned to shareholders in the first nine months, including $1 billion in share repurchases [10][11]. - **Future Plans**: Aiming to increase capital returns to $4.5 billion from 2024 to 2026, up from the previous target of $3 billion [11][12]. Operational Efficiency and Cost Management - **Cost of Sales**: Remained stable at 31.7%, with favorable commodity prices contributing to cost management [9][10]. - **Labor Costs**: Decreased to 25.1%, with improved operational efficiency offsetting wage increases [9][10]. - **Marketing and Advertising Expenses**: Decreased by 19% year-over-year, reflecting operational efficiency gains [10]. Consumer Trends and Market Outlook - **Consumer Behavior**: Consumers are becoming more rational and value-conscious, seeking good quality and emotional value [3][4]. - **Market Conditions**: Despite recent stimulus policies, no significant changes in market conditions or consumer sentiment have been observed entering Q4 [11][19]. - **Q4 Expectations**: Traditionally a low season, with expectations of smaller sales and profits, but confidence remains in capturing consumer needs through strategic initiatives [11][19]. Conclusion - **Key Messages**: 1. Resiliency and growth strategy highlighted by strong Q3 results. 2. Continued optimism for long-term growth opportunities in China. 3. Commitment to sustainable growth and increased capital returns to shareholders [12].

Profits are flying higher and flowing back to shareholders.Shares of restaurant company Yum China (YUMC 7.88%), comprised mostly of Pizza Hut and KFC restaurants, jumped on Monday morning after the company reported financial results for the third quarter of 2024. Yum China stock had recently dropped about 15% from 52-week highs but it's bouncing back today, with investors enjoying a 9% gain as of 10:30 a.m. ET.Business is slow, but profits are soaringIn Q3, Yum China opened up more than 400 net new location ...

Financial Data and Key Metrics Changes - System sales grew 4% year-over-year, with same-store sales index improving to 97% of the prior year's level [6][28] - Core operating profit increased by 18%, and diluted EPS rose by 32% [7][36] - Restaurant margin improved by 50 basis points year-over-year, while core OP margin expanded by 140 basis points [11][28] Business Line Data and Key Metrics Changes - KFC system sales increased by 6% year-over-year, with same-store sales at 98% of prior year levels [31] - Pizza Hut system sales rose by 2% year-over-year, with same-store sales at 94% of prior year levels [32] - Delivery sales for the company grew 18%, accounting for around 40% of the sales mix [13] Market Data and Key Metrics Changes - The company opened 438 net new stores in Q3, totaling over 1,200 net new stores year-to-date [23] - The franchise mix for net new stores increased from 15% in 2023 to 27% year-to-date, with expectations to reach 40% to 50% in the coming years [25] Company Strategy and Development Direction - The company is focusing on operational efficiency and innovation through initiatives like Project Fresh Eye and Project Red Eye [9][10] - The RGM 2.0 strategy emphasizes both system sales and same-store sales growth [12][42] - The company is expanding its franchise model to unlock opportunities in strategic locations and lower-tier cities [24][25] Management's Comments on Operating Environment and Future Outlook - Management remains confident in China's midterm and long-term growth opportunities despite current market challenges [40] - The company expects to maintain focus on operational efficiency and innovation to drive sales and profit growth [41] - Management anticipates that the fourth quarter will be traditionally low season, with cautious consumer spending expected [40][64] Other Important Information - The company plans to return $4.5 billion to shareholders from 2024 to 2026, increasing its capital return plan by 50% [39][88] - The company has a healthy cash position with net cash of $3.1 billion as of the end of the quarter [38] Q&A Session Summary Question: Long-term focus on same-store sales vs. system sales - Management emphasized the importance of both same-store sales and system sales, with a focus on transaction growth as a key driver for the business [46][49] Question: KFC pricing strategy and competition - Management noted that KFC's pricing strategy aims for stability, with slight increases compared to previous quarters, while Pizza Hut continues to lower prices to attract mass market consumers [54][55] Question: Franchising model and CapEx spending - Management explained that the increase in franchising is due to readiness and improved franchisee quality, which may lead to lower CapEx spending in the future [58][59] Question: Fourth quarter trends and pricing stabilization - Management indicated that while there are no significant changes in consumer sentiment, they expect to maintain positive same-store transaction growth in Q4 [64][66] Question: Food safety and cost control - Management reassured that food safety is a top priority, with compliance and quality assurance processes in place [72][73] Question: KCOFFEE performance and profitability - Management reported a single-digit sales uplift from KCOFFEE cafes, with significant growth in cups sold and plans for further expansion [77][78] Question: Pizza WOW store performance and growth potential - Management acknowledged that Pizza WOW is still in the early stages, with ongoing efforts to improve operational efficiency and product availability [81][82]

Yum China Holdings (YUMC) came out with quarterly earnings of $0.77 per share, beating the Zacks Consensus Estimate of $0.68 per share. This compares to earnings of $0.59 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 13.24%. A quarter ago, it was expected that this restaurant operator in China would post earnings of $0.47 per share when it actually produced earnings of $0.55, delivering a surprise of 17.02%.Over the last fou ...

Financial Data and Key Metrics Changes - System sales grew 4% year over year, with a same-store sales index improving to 97% of the prior year's level [2][8] - Operating profit increased by 18%, and diluted EPS rose by 32% [2][10] - Restaurant margin improved by 50 basis points year over year, while core operating profit margin expanded by 140 basis points [3][8] Business Line Data and Key Metrics Changes - KFC system sales increased by 6% year over year, with same-store sales at 98% of prior year levels [8][10] - Pizza Hut system sales rose by 2% year over year, with same-store sales at 94% of prior year levels [8][10] - Delivery sales grew 18%, accounting for around 40% of the sales mix [3][4] Market Data and Key Metrics Changes - KFC and Pizza Hut have increased their market share on aggregator platforms, while over 70% of total sales come from non-aggregator channels [4][10] - The franchisee mix for KFC's new stores increased from 15% in 2023 to 27% year-to-date, with expectations to reach 40-50% in the coming years [7][17] Company Strategy and Development Direction - The company is focusing on operational efficiency and innovation through initiatives like Project Fresh Eye and Project Red Eye [3][10] - The strategy includes widening price ranges and optimizing delivery to capture underserved markets and enhance customer access [2][12] - The company plans to step up capital returns to shareholders, increasing the target from $3 billion to $4.5 billion over the next three years [11][12] Management's Comments on Operating Environment and Future Outlook - Management remains confident in China's midterm and long-term growth opportunities despite current cautious consumer sentiment [11][19] - The company expects Q4 to be traditionally low in sales and profits but aims to maintain focus on operational efficiency and innovation [11][19] - Management acknowledges the competitive landscape but believes their strategies will allow them to outperform peers [16][19] Other Important Information - The company has returned over $4 billion to shareholders since its spinoff, with more than $1.2 billion returned in the first nine months of the year [10][11] - K-Coffee has seen significant growth, with nearly 200 million cups sold in the first nine months, indicating strong potential for future expansion [5][23] Q&A Session Summary Question: Long-term focus on same-store sales vs. system sales - Management emphasizes the importance of both system sales and same-store sales, with a focus on transaction growth as a key driver for the business [13][14] Question: KFC pricing strategy and competition - Management notes that KFC's pricing strategy aims for stability, with slight adjustments based on market conditions and competition [16] Question: Franchising model and capital expenditure - The company is ready to increase the percentage of franchisee stores, which will help lower capital expenditure in the long term [17] Question: Q4 performance expectations - Management anticipates some top-line pressure in Q4 but remains confident in their ability to capture consumer needs and protect margins [19][20] Question: Food safety and cost control - The company prioritizes food safety and compliance, ensuring that quality is not compromised for cost control [22] Question: K-Coffee incremental benefits - K-Coffee has shown a single-digit sales uplift and produces incremental profit due to its unique operating model [23] Question: Pizza Hut store format performance - The Pizza Hut Valve store format is still in its early stages, with ongoing improvements in operational efficiency expected to enhance sales and profitability [24]

EF001 免責聲明 | 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，概不對因 | | | | | --- | --- | --- | --- | | 公告全部或任何部份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。 | | | | | 股票發行人現金股息公告 | | | | | 發行人名稱 | 百勝中國控股有限公司 | | | | 股份代號 | 09987 | | | | 多櫃檯股份代號及貨幣 | 不適用 | | | | 相關股份代號及名稱 | 不適用 | | | | 公告標題 | 2024年第三季度財務業績公告 | | | | 公告日期 | 2024年11月4日 | | | | 公告狀態 | 新公告 | | | | 股息信息 | | | | | 股息類型 | 其他 | | | | 季度股息 | | | | | 股息性質 | 普通股息 | | | | 財政年末 | 2024年12月31日 | | | | 宣派股息的報告期末 | 2024年9月30日 | | | | 宣派股息 | 每 股 0.16 USD | | | | 股 ...

Revenue and Sales Performance - Total revenue grew by 5% to $3.07 billion, marking the highest quarterly revenue in history[4]. - Digital order revenue reached $2.61 billion, accounting for approximately 90% of restaurant revenue[4]. - Same-store sales index improved to 97% of last year's level, with a 1% year-over-year increase in same-store transaction volume[4]. - KFC's total revenue for Q3 2024 reached $2.311 billion, a 6% increase compared to Q3 2023[8]. - Pizza Hut's total revenue for Q3 2024 was $615 million, a 2% increase compared to Q3 2023[10]. - Total revenue for the nine months ended September 30, 2024, reached $8,708 million, reflecting a 17% increase compared to $8,485 million for the same period last year[22]. - Total revenue for the company reached $2,914 million, with KFC contributing $2,186 million and Pizza Hut $599 million[47]. - Total revenue for the company reached $8,485 million, with KFC contributing $6,368 million and Pizza Hut contributing $1,750 million[51]. Profitability and Operating Performance - Operating profit rose by 15% to $371 million, with a core operating profit increase of 18%[4]. - KFC's operating profit for Q3 2024 was $364 million, up 6% year-over-year, with an operating profit margin of 15.7%[9]. - Pizza Hut's operating profit for Q3 2024 was $52 million, reflecting a 13% year-over-year increase[11]. - The operating margin improved to 12.1% for the quarter, up from 11.1% in the same quarter last year, indicating enhanced operational efficiency[22]. - The company reported a basic earnings per share of $0.77 for the quarter, compared to $0.59 in the same quarter last year, marking a significant increase[22]. - The company reported a net profit of $854 million for the nine months ending September 30, 2024, compared to $794 million for the same period in 2023, reflecting a growth of approximately 7.6%[28]. - The company reported a net loss of $371 million after adjustments for special items[46]. - The company reported a net loss of $20 million in other segments, impacting overall profitability[52]. Store Expansion and System Sales - The total number of stores reached 15,861, including 11,283 KFC and 3,606 Pizza Hut locations, with a net addition of 438 stores in the third quarter[4]. - KFC added 352 new restaurants in Q3 2024, with 134 of them being franchise locations, accounting for 38% of the new openings[9]. - The company aims to add approximately 1,500 to 1,700 new stores and plans capital expenditures between $700 million and $850 million for fiscal year 2024[15]. - The number of brand restaurants increased to 11,283 as of September 30, 2024, from 10,296 at the end of 2023, representing a net increase of 987 locations[31]. - The company opened 110 new stores in the nine months ending September 30, 2024, compared to 97 new stores in the same period of 2023, showing a growth of 13.4%[32]. Shareholder Returns and Financial Management - Shareholder returns increased by 50% to $4.5 billion for the period from 2024 to 2026[3]. - The company repurchased $187 million in stock and paid $61 million in cash dividends, returning approximately $248 million to shareholders in the third quarter[4]. - The company plans to return a record $1.5 billion to shareholders through quarterly cash dividends and stock buybacks[15]. - In the first nine months of the year, the company returned a record $1.24 billion to shareholders, including $1.06 billion in stock buybacks and $187 million in cash dividends[7]. - The company plans to increase shareholder returns from $3 billion to $4.5 billion between 2024 and 2026, a 50% increase[7]. Cost Management and Expenses - Total costs and expenses for the quarter were $2,700 million, a 4% increase from $2,591 million in the same quarter last year[22]. - KFC's total costs and expenses for the quarter were $1,947 million, a 6% increase from $1,844 million in the same quarter of 2023[23]. - Pizza Hut's total costs and expenses for the quarter were $563 million, a 1% increase from $552 million in the same quarter of 2023[24]. - Management expenses were reported at $485 million, with KFC at $203 million and Pizza Hut at $89 million[51]. Strategic Initiatives and Future Outlook - The company continues to implement the "RGM 2.0 strategy" focusing on efficiency and innovation to drive growth[5]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[22]. - Future guidance indicates a focus on improving operational efficiency and enhancing customer experience[45]. - The company emphasizes the importance of adjusted non-GAAP measures to provide additional insights into operational performance, excluding special items and foreign currency effects[33].

Revenue Growth and Performance - Total system sales grew 4% YoY, driven by 7% net new unit contribution[2] - Total revenues increased 5% YoY to $3.07 billion, an all-time quarter high[2] - Total revenues for the quarter ended 9/30/2024 increased by 5% to $3,071 million compared to $2,914 million in the same period last year[21] - Company sales for the quarter ended 9/30/2024 grew by 5% to $2,895 million from $2,759 million in the prior year[21] - Total revenues for Q3 2024 amounted to $3,071 million, with KFC contributing $2,311 million and Pizza Hut $615 million[50] - Total revenues for the year to date ended 9/30/2023 were $8.485 billion, with KFC contributing $6.368 billion and Pizza Hut $1.750 billion[58] - Total company sales across all segments amount to $8.048 billion, with KFC contributing $6.274 billion and Pizza Hut $1.728 billion[59] Store Expansion and Count - Total store count reached 15,861, including 11,283 KFC stores and 3,606 Pizza Hut stores, with 438 net new stores opened in Q3[2] - Pizza Hut opened 102 net new stores during the quarter, with 15 net new stores opened by franchisees, reaching a total store count of 3,606 as of September 30, 2024[9] - The company targets to open approximately 1,500 to 1,700 net new stores in the 2024 fiscal year[10] - KFC's total units increased to 11,283 as of 9/30/2024, up from 10,296 at the end of 2023, with 1,189 new builds and 202 closures[32] - Pizza Hut's total units grew to 3,606 as of 9/30/2024, compared to 3,312 at the end of 2023, with 406 new builds and 112 closures[32] - Other brands' total units decreased to 972 as of 9/30/2024 from 1,036 at the end of 2023, with 110 new builds and 174 closures[32] Delivery and Digital Sales - Delivery sales grew 18% YoY, contributing approximately 40% of KFC and Pizza Hut's Company sales[2] - Digital sales reached $2.61 billion, accounting for approximately 90% of total Company sales[2] - Delivery sales grew 11% YoY, contributing approximately 39% of Pizza Hut's Company sales for the quarter[9] Membership and Customer Engagement - Total membership of KFC and Pizza Hut exceeded 510 million, with member sales accounting for approximately 64% of system sales[2] Operating Profit and Margins - Operating profit grew 15% YoY to $371 million, with core operating profit increasing 18% YoY[2] - Operating profit for the quarter ended 9/30/2024 rose by 15% to $371 million compared to $323 million in the same period last year[21] - Operating profit for Q3 2024 was $371 million, with KFC leading at $364 million and Pizza Hut at $52 million[50][51] - Core operating profit for Q3 2024 was $369 million, adjusted for special items and FX impact[51] - Core operating profit for the quarter ended 9/30/2024 was $369 million, an 18% increase from $312 million in the prior year period[43] - The company's core operating profit margin improved to 12.1% in the quarter ended 9/30/2024, up 1.4 percentage points from 10.7% in the prior year period[43] - Adjusted operating profit, excluding special items, is $1.005 billion, with KFC at $1.035 billion and Pizza Hut at $137 million[60] - Core operating profit, after adjusting for items affecting comparability, is $951 million, with KFC at $991 million and Pizza Hut at $129 million[60] Earnings and Shareholder Returns - Diluted EPS increased 33% YoY to $0.77[2] - The company plans to step up capital returns to shareholders by 50% to $4.5 billion for 2024-2026[1] - The company aims to return a record-setting $1.5 billion to shareholders through quarterly cash dividends and share repurchases in 2024[10] - Net income for Yum China Holdings, Inc. for the quarter ended 9/30/2024 increased by 22% to $297 million from $244 million in the prior year[21] - Basic earnings per common share for the quarter ended 9/30/2024 were $0.77, up from $0.59 in the same period last year[21] - Diluted earnings per common share for the quarter ended 9/30/2024 were $0.77, compared to $0.58 in the prior year[21] - Net income for the quarter ended 9/30/2024 was $297 million, compared to $244 million in the same period last year, representing a 21.7% increase[39][40] - Adjusted EBITDA for the quarter ended 9/30/2024 was $501 million, up 13.6% from $441 million in the prior year period[40] - Basic earnings per share for the quarter ended 9/30/2024 was $0.77, up from $0.59 in the same period last year[39] - The company's adjusted diluted earnings per share for the quarter ended 9/30/2024 was $0.77, compared to $0.59 in the prior year period[39] - Repurchase of shares of common stock amounted to $1,057 million for the year to 9/30/2024, significantly higher than the $280 million in the previous year[29] - Cash dividends paid on common stock increased to $187 million for the year to 9/30/2024 from $162 million in the same period last year[29] Costs and Expenses - Food and paper costs as a percentage of company sales increased by 0.6 percentage points to 31.7% for the quarter ended 9/30/2024[21] - Payroll and employee benefits as a percentage of company sales decreased by 0.2 percentage points to 25.1% for the quarter ended 9/30/2024[21] - Occupancy and other operating expenses as a percentage of company sales decreased by 0.4 percentage points to 26.2% for the quarter ended 9/30/2024[21] - KFC's food and paper costs increased by 7% to $713 million in Q3 2024 compared to $666 million in Q3 2023[22] - Pizza Hut's food and paper costs rose by 7% to $202 million in Q3 2024 compared to $187 million in Q3 2023[23] - Total costs and expenses for Q3 2024 were $2,700 million, with company restaurant expenses being the largest component at $2,401 million[50] - The company's central procurement model involves revenues and expenses from transactions with franchisees, totaling $282 million in revenues and $270 million in expenses[59][62] Segment Performance (KFC and Pizza Hut) - System sales for Pizza Hut grew 2% YoY in the quarter, primarily driven by net new unit contribution of 7%[8] - Same-store sales reached 94% of the prior year's level, improved from 92% in the second quarter[8] - Operating profit grew 13% YoY to $52 million, with core operating profit increasing 20% YoY[9] - OP margin was 8.6%, an increase of 80 basis points YoY[9] - Restaurant margin was 12.8% for the quarter, up 60 basis points YoY excluding items affecting comparability[9] - KFC's total revenues increased by 6% to $2.311 billion in Q3 2024 compared to $2.186 billion in Q3 2023[22] - KFC's operating profit margin improved by 0.1 percentage points to 15.7% in Q3 2024[22] - Pizza Hut's total revenues grew by 2% to $615 million in Q3 2024 compared to $599 million in Q3 2023[23] - Pizza Hut's operating profit margin increased by 0.8 percentage points to 8.6% in Q3 2024[23] - KFC's company sales rose by 6% to $2.276 billion in Q3 2024 compared to $2.154 billion in Q3 2023[22] - Pizza Hut's company sales increased by 2% to $606 million in Q3 2024 compared to $591 million in Q3 2023[23] - KFC's franchise fees and income grew by 15% to $19 million in Q3 2024 compared to $16 million in Q3 2023[22] - Pizza Hut's franchise fees and income increased by 8% to $2 million in Q3 2024 compared to $2 million in Q3 2023[23] - KFC company sales for Q3 2024 reached $2,276 million, contributing significantly to the total company sales of $2,895 million[50] - Pizza Hut company sales for Q3 2024 were $606 million, showing a steady performance[50] - Restaurant margin for KFC in Q3 2024 was 18.3%, while Pizza Hut had a margin of 12.7%[50][53] - KFC's GAAP operating profit for the quarter ended 9/30/2023 was $342 million, while Pizza Hut's was $47 million[54] - Total company sales for the year to date ended 9/30/2024 were $8.217 billion, with KFC contributing $6.452 billion and Pizza Hut $1.723 billion[55] - KFC's restaurant margin percentage for the year to date ended 9/30/2024 was 18.0%, while Pizza Hut's was 12.8%[56] - The core operating profit for KFC, adjusted for F/X impact, was $1.027 billion for the year to date ended 9/30/2024[57] - KFC's GAAP operating profit for the year to date ended 9/30/2023 is $1.035 billion, while Pizza Hut's is $137 million[59] - Total GAAP operating profit for all segments combined is $996 million, with corporate and unallocated expenses at $(156) million[59] - KFC's restaurant margin percentage is 19.4%, significantly higher than Pizza Hut's 13.1%[59] Financial Position and Cash Flow - Cash and cash equivalents increased to $1,193 million as of 9/30/2024, up from $1,128 million at the end of 2023[26] - Net income including noncontrolling interests rose to $854 million for the year to 9/30/2024, compared to $794 million in the same period last year[29] - Total assets decreased slightly to $11,801 million as of 9/30/2024 from $12,031 million at the end of 2023[26] - Net cash provided by operating activities was $1,252 million for the year to 9/30/2024, down from $1,334 million in the previous year[29] - Capital spending for the year to 9/30/2024 was $523 million, slightly higher than the $499 million spent in the same period last year[29] Tax and Other Financial Metrics - The company's effective tax rate for the quarter ended 9/30/2024 was 27.3%, slightly lower than 27.5% in the prior year period[39] - Store impairment charges for the quarter ended 9/30/2024 were $10 million, compared to $3 million in the same period last year[40] - Temporary relief from landlords and government agencies reduced operating profit by $10 million and $4 million respectively[60] - VAT deductions had a significant impact, reducing operating profit by $42 million, with KFC accounting for $34 million of that reduction[60] Franchise Performance - Franchise fees and income for Q3 2024 totaled $25 million, with KFC contributing $19 million[50] - Revenues from transactions with franchisees in Q3 2024 were $116 million, with KFC contributing $15 million and Pizza Hut $19 million[50] - Other revenues for Q3 2024 were $35 million, with significant contributions from other segments at $176 million[50]

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 (註3) | 庫存股份數目 | | | | 於下列日期開始時的結存(註1) | 2024年10月31日 | | ...