Core Viewpoint - Yum China (09987) announced a share buyback program, indicating confidence in its financial health and commitment to returning value to shareholders [1] Group 1: Share Buyback Details - The company repurchased approximately 61,300 shares at a cost of about $3 million on the New York Stock Exchange [1] - Additionally, Yum China spent approximately HKD 7.694 million to buy back 20,100 shares on the Hong Kong Stock Exchange [1]

Group 1 - The core point of the article is that Yum China (09987.HK) has repurchased shares, spending approximately $3 million to buy back about 61,300 shares on the New York Stock Exchange and approximately HKD 7.694 million to repurchase 20,100 shares on the Hong Kong Stock Exchange [1] Group 2 - The share repurchase on the New York Stock Exchange occurred on January 23, 2026 [1] - The repurchase on the Hong Kong Stock Exchange involved a total expenditure of approximately HKD 7.694 million [1] - The total number of shares repurchased across both exchanges amounts to approximately 81,400 shares [1]

Core Viewpoint - Yum China (09987) announced a share buyback program, indicating confidence in its financial health and future growth prospects [1] Group 1: Share Buyback Details - The company repurchased approximately 61,300 shares at a cost of about $3 million on the New York Stock Exchange [1] - Additionally, Yum China spent approximately HKD 7.694 million to buy back 20,100 shares on the Hong Kong Stock Exchange [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： 2026年1月25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 | | | 庫存股份變動 ...

Summary of the Conference Call Industry Overview - **Sector**: China Consumer Sector - **Key Themes for 2026**: 1. **Lukewarm Demand**: Overall retail sales growth slowed to 1.3% YoY in November 2025, down from 2.9% in October 2025, with forecasts of 2.6% growth in 2026 and 2.5% in 2027, reflecting a deceleration in GDP growth to 4.5% in 2026 and 4.1% in 2027 [10][10] 2. **Price Deflation**: Persistent price deflation in consumer products, with significant price drops in categories like apparel and catering, impacting overall industry profitability [10][10] 3. **Consumer Preferences**: Young adults are prioritizing differentiated design, experience, and social value in their purchases [2][2] 4. **Overseas Expansion**: Companies are expected to expand internationally to counteract slow domestic growth, facing operational risks such as tariffs and supply chain management [10][10] 5. **Aging Demographics**: Challenges and opportunities arise from an aging population, with a decline in birth rates and a growing proportion of individuals over 65 years old [10][10] Financial Projections - **Earnings Growth**: Sector sales and earnings are projected to grow by 7.1% and 12.2% YoY in 2026, respectively, with a projected earnings CAGR of 10.3% from 2025 to 2027 [6][6] - **Valuation**: China consumer stocks are trading at 17x 2026E P/E, compared to ASEAN's 19x, Japan's 28x, and India's 54x, with a dividend yield of 4.2% [6][6] Investment Recommendations - **Top Picks**: - **Laopu**: Expected to benefit from experience-led growth with a disciplined store count and strong earnings growth of 40% in 2026 [20][20] - **Luckin**: Forecasted to achieve a 28% increase in net profit, driven by a consumer-centered vision and strong digitalization [20][20] - **Guming**: Anticipated to net add 3.3k stores in 2026, with a 20% YoY increase in core net profit [20][20] - **Mao Ge Ping (MGP)**: Positioned to benefit from experience-driven consumption trends, expecting 30% earnings growth in 2026 [20][20] - **YUMC**: Strong growth expected from KFC and a turnaround for Pizza Hut, with a target of 30K stores by 2030 [20][20] - **Pop Mart**: Despite recent stock price declines, expected to maintain strong earnings with a focus on new product launches [20][20] - **Top Avoids**: - **Bud APAC**: Concerns over weak consumption sentiment and high-end market exposure, with forecasts of declining sales and EBITDA [27][27] - **Yanghe**: Risks associated with channel inventory build-up and rising competition [27][27] Additional Insights - **Consumer Behavior**: Consumers are expected to continue spending on affordable treats and differentiated products, with a focus on experiences rather than price [10][10] - **Market Dynamics**: Increased competition is leading to accelerated consolidation within the industry, with leaders expected to gain market share through cost-saving initiatives and digital technologies [10][10] - **Demographic Trends**: Marriage registrations dropped significantly, indicating a shrinking young population and potential further declines in birth rates [12][12] This summary encapsulates the key points from the conference call, highlighting the current state and future outlook of the China consumer sector, along with specific investment recommendations and potential risks.

百胜中国(09987)发布公告，于2026年1月22日斥资772.16万港元回购2.04万股;斥资300万美元回购6.08万 股。 ...

Summary of Key Points Core Viewpoint - Yum China (09987.HK) announced a share buyback on January 22, 2026, spending HKD 7.7216 million to repurchase 20,400 shares at a price range of HKD 376.2 to HKD 381.4 per share [1] Group 1 - The total expenditure for the share buyback was HKD 7.7216 million [1] - The number of shares repurchased was 20,400 [1] - The price range for the repurchased shares was between HKD 376.2 and HKD 381.4 [1]

Core Viewpoint - Yum China (09987) announced a share buyback plan, indicating confidence in its financial position and future growth potential [1] Group 1: Share Buyback Details - The company will repurchase 20,400 shares at a cost of HKD 7.7216 million [1] - Additionally, it plans to buy back 60,800 shares for USD 3 million [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： 2026年1月23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 ...

百胜中国(09987)公布，2026年1月21日于港交所耗资约772.11万港元回购2.065万股股份，于纽约证券交 易所耗资约300万美元回购约6.19万股股份。 ...