智通财经APP讯，百胜中国(09987)发布公告，2026年2月2日斥资773.98万港元回购2.01万股;斥资300万 美元回购5.99万股;注销6.06万股股份;公司采纳的长期激励计划项下的授予而发行的116股股票。 ...

格隆汇2月3日丨百胜中国(09987.HK)公告，2月2日耗资773.98万港元回购2.01万股，每股回购价382.8- 388港元。 ...

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： 2026年2月3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 | 每股 ...

Group 1 - Trump and Modi reached a trade agreement to reduce tariffs on Indian goods from 25% to 18% and cancel an additional 25% tariff on Indian purchases of Russian oil. India committed to purchasing over $500 billion worth of U.S. goods in sectors including energy, technology, agriculture, and coal [2] - SpaceX announced the completion of its acquisition of xAI, with SpaceX valued at approximately $1 trillion and xAI at around $250 billion, resulting in a combined valuation of $1.25 trillion [2] Group 2 - The U.S. Labor Statistics Bureau will not release the January non-farm employment report due to a partial government shutdown, and the December job openings report will also be postponed [4] - U.S. stock markets saw all three major indices rise, with the Dow Jones up 1.05%, S&P 500 up 0.54%, and Nasdaq up 0.56%. Notable tech stocks like Intel rose nearly 5%, while Nvidia fell over 2% [5][6] - The Nasdaq Golden Dragon China Index fell 0.65%, with significant declines in Chinese stocks such as XPeng down 8.2% and BYD down 6.7% [5] Group 3 - The U.S. dollar index increased by 0.64%, while the offshore and onshore RMB showed slight fluctuations [8] - Gold and silver experienced significant volatility, with spot gold dropping over 4% and silver declining nearly 7%. WTI crude oil futures fell by approximately 4.71% [6][8] Group 4 - The Chinese manufacturing PMI for January rose to 50.3, indicating continued expansion, driven by improvements in employment and new orders [22] - Citigroup raised its GDP forecast for Hong Kong to 3.2% for the year, reflecting a more stable recovery in major industries [24]

Market Overview - On February 2, US stock indices closed higher, with the Dow Jones up 1.05%, S&P 500 up 0.54%, and Nasdaq up 0.56% [1] - Major technology stocks showed mixed results, with Apple rising over 4% and Nvidia falling nearly 3% [2] Technology Sector - The Philadelphia Semiconductor Index increased by 1.7%, with Micron Technology up over 5% and Intel up nearly 5% [2] - SanDisk's stock surged over 15% due to better-than-expected earnings, while Western Digital and Seagate also saw gains [3] - NAND flash memory prices are expected to rise by over 30% according to reports from SK Hynix and SanDisk [3] Energy Sector - The energy sector experienced declines, with ExxonMobil down over 2% and Chevron down more than 1% [3] - WTI crude oil futures fell by 4.71%, closing at $62.14 per barrel, while Brent crude oil futures dropped by 4.36% to $66.30 per barrel [4] Cryptocurrency Market - Bitcoin prices rose above $78,000 after previously dipping to around $74,560, with significant market volatility leading to over 170,000 liquidations [4] - Bitcoin ETF saw a net outflow of $1.61 billion in January 2026, indicating liquidity issues in the market [4] International Relations and Trade - A trade agreement between the US and India was announced, reducing tariffs on Indian goods from 25% to 18%, effective immediately [5] - India is expected to increase its procurement of US products, including energy and agricultural goods, valued at over $500 billion [5] - The Indian stock index Nifty 50 saw a rise in futures, and the Indian Rupee strengthened against the US dollar following the trade announcement [6]

Group 1 - The Western fast food market is expected to exceed 300 billion yuan by 2025, with a year-on-year growth of 10.3%, leading the snack and fast food segment, with hamburgers holding a 70.6% market share [1] - The market concentration is high, with the top five companies (CR5) accounting for 44% in 2024, and Yum China maintaining the top position with a 27.5% market share [1] - The company has a large store network with a low closure rate, reaching a total of 17,514 stores by Q3 2025, with a CAGR of 9% from 2014 to 2024 [1] Group 2 - The company has strong local product innovation capabilities, with membership reaching 575 million by Q3 2025, and membership sales accounting for 57% of total sales [1] - A mature supply chain and store management system support healthy profitability, with KFC and Pizza Hut achieving profit margins of 18.5% and 13.4% respectively by Q3 2025 [1] - The company maintains high free cash flow and shareholder returns, with a total return to shareholders of 1.517 billion USD in 2024, resulting in a shareholder return rate of 166.49% [1] Group 3 - The company is accelerating expansion into lower-tier markets with adapted store formats, such as KFC Mini Town and Pizza Hut WOW stores, achieving franchise ratios of 15% and 7% respectively by Q3 2025 [1] - Overall restaurant profit margin is 17.3% as of Q3 2025, with decreasing costs in food, packaging, and property rent, indicating improved cost control [1] Group 4 - The Western fast food industry is steadily expanding with increasing concentration, benefiting leading brands as long-tail competitors exit the market [2] - High brand recognition combined with continuous product innovation ensures strong user acquisition and repurchase rates, providing long-term competitive advantages [2] - The company is expected to generate revenues of 11.7 billion USD, 12.4 billion USD, and 13.1 billion USD from 2025 to 2027, with net profits of 900 million USD, 1 billion USD, and 1.1 billion USD respectively [2]

Investment Rating - The report assigns a "Buy" rating for Yum China (09987.HK) [6] Core Insights - The Western fast food industry is expected to expand significantly, with a market size projected to exceed 300 billion yuan by 2025, reflecting a year-on-year growth of 10.3% [1] - Yum China holds a leading market share of 27.5% in the fast food sector, with a high concentration of market power among top brands [1][27] - The company has a strong local innovation capability and a mature supply chain, supporting healthy profitability across its stores [2][29] - The expansion into lower-tier markets is accelerating, with new store formats like KFC Mini and Pizza Hut WOW being introduced [3][29] Summary by Sections 1. Industry Expansion and Market Concentration - The Western fast food market is projected to grow at a compound annual growth rate (CAGR) of 8% from 2020 to 2025, with fast food leading the growth among various segments [21] - The market concentration is increasing, with the top five brands expected to account for 44% of the market share by 2024 [27] 2. Brand Stability and Shareholder Returns - As of Q3 2025, Yum China operates 17,514 stores, with a CAGR of 9% from 2014 to 2024 [2] - The company reported a free cash flow of $1.517 billion in 2024, achieving a shareholder return rate of 166.49% [2] - The membership base reached 575 million, contributing to 57% of sales, indicating strong customer loyalty [2] 3. Accelerated Expansion in Lower-Tier Markets - The introduction of smaller store formats is aimed at penetrating lower-tier cities, with franchise models becoming a core growth engine [3] - The overall restaurant profit margin was reported at 17.3% as of Q3 2025, with continuous improvement in cost control [3] 4. Investment Recommendations - The report anticipates revenues of $11.7 billion, $12.4 billion, and $13.1 billion for 2025, 2026, and 2027 respectively, with net profits of $925 million, $1 billion, and $1.08 billion [4][17] - The current price corresponds to a price-to-earnings (P/E) ratio of 19, 18, and 16 for the years 2025, 2026, and 2027 respectively, reflecting a strong growth outlook [17]

百胜中国（09987）发布公告，于2026年1月30日斥资771.65万港元回购1.98万股。 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 百胜中国（09987）发布公告，于2026年1月30日斥资771.65万港元回购1.98万股。 责任编辑：卢昱君 责任编辑：卢昱君 ...

Group 1 - The core point of the article is that Yum China (09987.HK) announced a share buyback on January 30, spending HKD 7.716 million to repurchase 19,750 shares [1] Group 2 - The buyback reflects the company's strategy to enhance shareholder value through capital return initiatives [1] - The repurchased shares represent a small fraction of the total shares outstanding, indicating a targeted approach to share buybacks [1] - The transaction was executed at a price that suggests confidence in the company's future performance [1]

Group 1 - The core point of the article is that Yum China (09987) announced a share buyback plan, intending to repurchase 19,800 shares at a cost of HKD 7.7165 million [1] Group 2 - The buyback is scheduled to take place on January 30, 2026 [1] - The total amount allocated for the buyback is approximately HKD 7.7165 million [1] - The number of shares to be repurchased is 19,800 [1]