对消费者而言，这场供应链创新的体验可能细微却实在，对行业而言，这或许是从"规模扩张"到"效率 竞争"的转折点。 （文章来源：证券日报） 7月16日至7月20日，第三届中国国际供应链促进博览会（以下简称"链博会"）在北京举行。展会期间， 百胜中国控股有限公司（以下简称"百胜中国"）协同供应链合作伙伴，在山东省展区介绍了百胜济南三 合一产业园模式，为供应链优化提供了全新思路。 据悉，百胜济南三合一产业园拟落地济南长清区。从区位上看，济南恰似一个天然的物流十字路口：东 向覆盖胶东半岛，西向辐射鲁中城市群。山东作为农业大省，为园区提供了得天独厚的资源基础。这 种"从农田到餐桌"的短链模式，既提升了食材新鲜度，也有助于本地采购和就业等。 百胜济南三合一产业园模式的精妙之处，不仅正在优化快餐行业的成本与利润公式，其在数字化深度介 入方面也是另一大看点。从消费者下单那一刻起，数据便开始驱动整个链条，同时系统提示的原材料需 求也许已经在产业园的流水线上打包分装。这种"以需定产"的模式，让供应链如同弹性十足的橡皮筋， 能根据前端的需求灵活伸缩。 这个集短保食材生产和智能物流于一体的三合一园区，打破传统供应链布局分散的局限，将上 ...

Group 1 - The third China International Supply Chain Promotion Expo opened in Beijing, where Yum China showcased its "Yum and Harmony Development Plan" aimed at enhancing supply chain collaboration and quality sourcing [1] - Since its first restaurant opened in 1987, Yum China has expanded to over 16,000 restaurants across more than 2,300 towns in China, operating brands such as KFC, Pizza Hut, Little Sheep, Huang Ji Huang, and Taco Bell [1] - Yum China's Vice President of Supply Chain Management emphasized the importance of a robust supply chain ecosystem in delivering quality and innovative food experiences to consumers [1] Group 2 - Fujian Shengnong Development Co., Ltd. highlighted its collaboration with Yum China to enhance the poultry supply chain through standardization, technology sharing, and data interconnectivity [2] - Charoen Pokphand Group's Vice Chairman noted that product innovation demands from the restaurant sector drive continuous upgrades in supply chain capabilities [2] - Xuechuan Agricultural Group reported improvements in quality through collaboration with Yum China, contributing to local farmers' income while promoting sustainable practices [2] Group 3 - Yum China signed a procurement cooperation agreement with Guolian Aquatic Products to develop innovative products that will enhance the application of local aquatic specialties, benefiting local fish farmers [3]

Group 1 - The signing of the "Foreign Trade Quality Products to Domestic Sales" project cooperation agreement between Guolian Aquatic Products and Yum China aims to leverage the integration of domestic and foreign trade strategies to enhance the domestic market presence of high-quality tilapia products [1][2] - Guolian Aquatic Products will implement a strict quality control system in collaboration with Yum China to ensure the safety and quality of tilapia from farm to table, utilizing an electronic supervision model for traceability and efficiency [1][2] - The partnership is part of Yum China's "Yum and Harmony Development Plan," which focuses on building a mutually beneficial industry ecosystem and has previously led to successful product innovations like crayfish burgers and tacos [2][3] Group 2 - The collaboration between Guolian Aquatic Products and Yum China is expected to create a dual circulation model that mitigates risks associated with reliance on a single market, promoting the consumption of high-quality aquatic products domestically [3] - The partnership will enhance the scale of production and improve supply chain efficiency for Guolian Aquatic Products, thereby strengthening its profitability [2][3]

香港交易及結算所有限公司及香港聯合交易所有限公司「香港聯交所」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。 預註册鏈接: https://register-conf.media-server.com/register/BIb7706c47c6cf42db8f213a8ac7f0329c 網絡直播回放將於活動結束兩小時後提供，並將持續開放至 2026 年 8 月 4 日。此外，本次電話 會議的業績報告及隨附簡報將可於本公司的投資者關係網站 http://ir.yumchina.com 瀏覽。 本公司將根據香港聯交所上市規則於 2025 年 8 月 31 日或之前就其截至 2025 年 6 月 30 日的中 期業績發佈公告。 投資者關係聯繫方式： 電話: +86 21 2407 7556 Email: IR@yumchina.com 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） 致投資者的 ...

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7月16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 。 | 13). | 於2025年6月18日在香港購回之股份 | 13,750 | 0 % | HKD | 339.93 | | --- | --- | --- | --- | --- | --- | | | 變動日期 2025年6月18日 | | | | | | 14). | 於2025年6月19日在香港購回之股份 | 13,950 | 0 % | HKD | 334.72 | | | 變動日期 2025年6月19日 | | | | | | 15). | 於2025年6月20日在香港購回之股份 | 13,900 | 0 % ...

Core Viewpoint - Yum China Holdings, Inc. is set to report its unaudited financial results for the second quarter of 2025 on August 5, 2025, before the U.S. market opens [1] Group 1: Financial Reporting - The earnings conference call will take place at 7:00 a.m. U.S. Eastern Time on August 5, 2025, which corresponds to 7:00 p.m. Beijing/Hong Kong Time on the same day [2] - A live webcast of the earnings call will be available, and participants must register in advance to receive dial-in numbers and a unique access PIN [2][3] - A replay of the webcast will be accessible two hours after the event and will remain available until August 4, 2026 [3] Group 2: Company Overview - Yum China is the largest restaurant company in China, operating over 16,000 restaurants across approximately 2,300 cities [4] - The company manages six brands, including KFC and Pizza Hut, which are leaders in the quick-service and casual dining sectors, respectively [4] - Yum China has a digitalized supply chain and logistics network, enhancing its customer service and operational efficiency [4] - The company aims to be the world's most innovative pioneer in the restaurant industry and is listed as a Fortune 500 company [4]

Core Viewpoint - Investors are seeking growth stocks that demonstrate above-average growth potential, with Yum China Holdings (YUMC) identified as a strong candidate due to its favorable growth metrics and Zacks Rank [2][10]. Earnings Growth - Yum China's historical EPS growth rate stands at 12.2%, with projected EPS growth of 6.8% for the current year, surpassing the industry average of 6.6% [5]. Asset Utilization Ratio - The company has an asset utilization ratio (sales-to-total-assets ratio) of 1, indicating it generates $1 in sales for every dollar in assets, which is higher than the industry average of 0.97 [6]. Sales Growth - Yum China's sales are expected to grow by 2.7% this year, compared to the industry average of 2.5%, highlighting its competitive position in sales growth [7]. Earnings Estimate Revisions - The current-year earnings estimates for Yum China have been revised upward, with the Zacks Consensus Estimate increasing by 0.1% over the past month, indicating positive momentum [9]. Overall Positioning - With a Growth Score of A and a Zacks Rank of 2, Yum China is well-positioned for potential outperformance, making it an attractive option for growth investors [10][11].

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7月15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 | | | | | 事件 | | 已發 ...

Group 1 - Amazon's AI recruitment tool exhibited gender bias, favoring male candidates due to historical data skewed towards male applicants [1] - The tool was developed to streamline the hiring process but was ultimately disbanded after revealing its discriminatory tendencies [1] - The incident highlights the potential risks of AI in recruitment, emphasizing the need for careful oversight and modification of algorithms to prevent bias [1] Group 2 - The integration of AI into organizations is reshaping workplace culture, with a focus on the importance of inclusivity and diversity [2][3] - A report by Mercer indicates that only 33% of employees foresee positive changes in their workload due to AI and automation, suggesting a disconnect between technology adoption and workplace processes [2] - Companies are encouraged to create inclusive AI and technology to foster a positive workplace culture and address inherent biases [2] Group 3 - DEI (Diversity, Equity, Inclusion) principles are becoming critical indicators of corporate social responsibility, with companies like Yum China implementing initiatives to support diverse employees [4][5] - Recent trends show a decline in DEI momentum, with major companies like Microsoft and Boeing disbanding their DEI departments, raising concerns about the future of inclusivity in corporate environments [5][6] - The effectiveness of DEI initiatives is questioned, with calls for a deeper understanding of how workforce composition reflects customer needs [6][8] Group 4 - The concept of "belonging" is emerging as a crucial aspect of DEI, emphasizing meaningful connections between employees and organizations [16][17] - A Gallup study indicates that 59% of the global workforce engages in "quiet quitting," highlighting the impact of a lack of belonging on employee engagement and productivity [17] - Companies are urged to maintain a focus on human elements even as they embrace AI technologies, ensuring that employees feel valued and connected [19]

Investment Rating - The industry investment rating is "Positive" (maintained) [2] Core Views - The return of everyday dining and the rise of home-cooked meals are significant trends, with the market for casual dining exceeding 1.2 trillion RMB, emphasizing high cost-performance [5][58] - The creator economy, particularly in the music streaming sector, is experiencing stable growth, with platforms enhancing their bargaining power through non-music content [22][24] - The casual dining market is projected to grow at a compound annual growth rate (CAGR) of 9.1% from 2023 to 2028, reaching 55.87 billion RMB by 2028 [56][58] Summary by Sections 1. Trend in Casual Dining - The average spending on Chinese dining has decreased from 87.6 RMB in 2023 to 79.2 RMB in 2024, a decline of 9.6% [53][55] - The casual dining market is characterized by a shift towards high cost-performance and practicality, with a significant increase in home cooking frequency [53][56] - The market for affordable casual dining (under 100 RMB per meal) is the largest segment, accounting for 88.7% of the total dining market, with a current size of 36.18 billion RMB [56][58] 2. Creator Economy and Music Streaming - The global music streaming market is projected to reach over 20.4 billion USD in 2024, with a year-on-year growth of 7.3% [27][30] - Subscription users in the music streaming sector are expected to grow to 263 million in 2024, reflecting an increase of 11% year-on-year [30] - Spotify's market penetration in emerging markets is driving user growth, with a CAGR of 35% from 2021 to 2025 [26][30] 3. Trends in Toy and Creator Economy - The online sales of trendy toys in June 2025 reached 1.348 billion RMB, with a year-on-year growth of 16% [12][14] - The sales of blind boxes and plush toys showed strong performance, with blind boxes growing by 109% year-on-year [12][13] - The creator economy is bolstered by the growth of non-music content, enhancing platforms' bargaining power [22][24] 4. Beauty and Personal Care Market - The skincare market on Tmall has seen a concentration increase, with the top 20 brands accounting for 46.2% of the total GMV [66] - Domestic brands have seen a decline in both quantity and market share, while international brands have experienced double-digit growth [66][67]