Earnings Performance - Yum China Holdings reported quarterly earnings of $0.30 per share, exceeding the Zacks Consensus Estimate of $0.29 per share, and up from $0.25 per share a year ago, representing an earnings surprise of 3.45% [1] - Over the last four quarters, the company has surpassed consensus EPS estimates four times [2] - The company posted revenues of $2.6 billion for the quarter ended December 2024, missing the Zacks Consensus Estimate by 1.64%, compared to year-ago revenues of $2.49 billion [2] Stock Performance and Outlook - Yum China shares have declined approximately 5.5% since the beginning of the year, while the S&P 500 has gained 3.1% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] Estimate Revisions and Industry Context - The estimate revisions trend for Yum China is currently mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] - The current consensus EPS estimate for the upcoming quarter is $0.79 on revenues of $3.11 billion, and $2.55 on revenues of $12.13 billion for the current fiscal year [7] - The Retail - Restaurants industry, to which Yum China belongs, is currently in the top 21% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]

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 第 1 頁 共 8 頁 v 1.3.0 公司名稱： 百勝中國控股有限公司("本公司") 呈交日期： 2025年2月6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 ...

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年第四季度及全年財務業績公告 | | | | 公告日期 | 2025年2月6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12月31日 | | | | 宣派股息 | 每 股 0.24 USD | | | | 股東批准日期 | ...

Financial Performance - Fourth quarter operating profit grew 36% YoY to $151 million, with an operating profit margin of 5.8%, an increase of 140 basis points YoY[5][7] - Total revenues for the fourth quarter increased 4% YoY to $2.6 billion, a record high for the quarter[5][6] - For the full year, operating profit rose 5% YoY to $1.2 billion, with a core operating profit increase of 12% YoY[5][6] - Net income for Yum China Holdings, Inc. was $115 million for the quarter, up 18% from $97 million in the same quarter last year[31] - Net income for the year ended December 31, 2024, was $980 million, up from $901 million in 2023, representing an increase of 9%[41] - Total revenues for the year ended December 31, 2024, were $11,303 million, a 2.9% increase from $10,978 million in 2023[56] - Operating profit for 2024 was $1,162 million, a slight decrease from $1,106 million in 2023, reflecting a decline of 5.1%[64] Sales and Revenue Growth - Same-store sales reached 99% of the prior year's level, marking the eighth consecutive quarter of same-store transaction growth[5][6] - Digital sales reached $9.6 billion, accounting for approximately 90% of total company sales[5][6] - Company sales for Q4 2024 reached $2,434 million, an increase from $2,343 million in Q4 2023, representing a growth of 3.9%[61] - Company sales for the year ended 12/31/2024 reached $10,651 million, an increase from $10,391 million in 2023, representing a growth of 2.5%[63] Store Expansion and Operations - The company opened 534 net new stores in the fourth quarter, bringing the total store count to 16,395 as of December 31, 2024[5][6] - The company plans to open approximately 1,600 to 1,800 net new stores and allocate capital expenditures of $700 million to $800 million for the 2025 fiscal year[21] - Yum China operates over 16,000 restaurants across more than 2,200 cities in China, making it the largest restaurant company in the country[27] Franchise and Membership - Total membership for KFC and Pizza Hut exceeded 525 million, up 11% YoY, with member sales accounting for approximately 65% of system sales[5][6] - Franchise fees and income for the quarter increased by 8% to $22 million compared to $20 million in the same quarter last year[31] - Revenues from transactions with franchisees rose by 14% to $101 million for the quarter, up from $90 million in the previous year[31] - Franchise fees and income increased by 10% to $2 million in the quarter compared to $1 million in the same quarter last year[37] - Franchise fees and income for 2024 totaled $94 million, up from $89 million in 2023, marking a growth of 5.6%[64] Profitability and Margins - The operating profit margin was 2.6%, reflecting an increase of 160 basis points YoY[21] - The restaurant margin for KFC in 2024 was 16.9%, while Pizza Hut reported a margin of 12.0%, leading to an overall restaurant margin of 15.7%[63] - The company achieved a restaurant margin of 12.0%, with an expansion of 60 basis points YoY due to operational efficiency and favorable commodity prices[21] Shareholder Returns - The company plans to return a total of $4.5 billion to shareholders between 2024 and 2026, including a 50% increase in cash dividends[10][12] - Yum China aims to return $3 billion to shareholders from 2025 through 2026, in addition to the $1.5 billion returned in 2024[21] - The company repurchased $1,249 million worth of common stock during the year, compared to $613 million in the previous year[41] Tax and Expenses - The effective tax rate for the quarter was 27.6%, an increase of 3.4 percentage points from 24.2% in the previous year[31] - Total costs and expenses for the quarter were $2,444 million, a 3% increase from $2,383 million in the prior year[31] - General and administrative expenses for 2024 were $568 million, a decrease from $638 million in 2023, reflecting a reduction of 10.9%[64] - The total costs and expenses for 2024 were $10,141 million, up from $9,872 million in 2023, representing an increase of 2.7%[64] Operational Highlights - KFC's system sales grew 5% YoY, with delivery sales contributing approximately 42% of KFC's company sales[16] - Pizza Hut's operating profit increased 156% YoY in the fourth quarter, reaching $14 million[15] - Pizza Hut's system sales grew 3% YoY, with same-store sales reaching 98% of the prior year's level, an improvement from 94% in Q3[21] - Delivery sales for Pizza Hut increased by 6% YoY, contributing approximately 42% of the company's total sales[21] - The company reported a restaurant profit of $301 million for Q4 2024, compared to $253 million in Q4 2023, which is an increase of 19%[62]

Core Insights - Yum China reported a strong fourth quarter with a 36% increase in operating profit and a 140 basis point expansion in operating profit margin [1][6] - The company achieved record results for 2024, with total revenues reaching $11 billion and a net addition of 1,751 stores [1][8] - The CEO highlighted the effectiveness of operational efficiency and innovation strategies, contributing to sustained growth in sales and profitability [6][8] Fourth Quarter Highlights - Total revenues for the fourth quarter increased by 4% year-over-year to $2.6 billion, marking a record high for the quarter [8] - Same-store sales improved to 99% of the prior year's level, with same-store transactions growing by 4% [8][9] - Operating profit for the fourth quarter was $151 million, a 36% increase year-over-year, with an operating profit margin of 5.8% [8][9] Full Year Highlights - For the full year, operating profit rose by 5% to $1.2 billion, with core operating profit increasing by 12% [1][8] - Diluted earnings per share (EPS) increased by 18% to $2.33, a record high for the year [8][9] - The company returned $1.5 billion to shareholders in 2024 through dividends and share repurchases, representing approximately 8% of outstanding shares [11][12] KFC Performance - KFC system sales grew by 5% year-over-year, with same-store sales reaching 99% of the prior year's level [16][23] - The brand opened a record 1,352 net new stores in 2024, with a total store count of 11,648 [16][23] - Operating profit for KFC increased by 15% year-over-year, with an operating profit margin of 9.9% [16][23] Pizza Hut Performance - Pizza Hut system sales grew by 3% year-over-year, with same-store sales reaching 98% of the prior year's level [23][32] - The brand opened a record 412 net new stores in 2024, bringing the total store count to 3,724 [23][32] - Operating profit for Pizza Hut grew by 156% year-over-year, with an operating profit margin of 2.6% [23][32] Future Outlook - The company plans to return a total of $3 billion to shareholders from 2025 through 2026, in addition to the $1.5 billion returned in 2024 [12][23] - Yum China aims to achieve a store count of 20,000 by 2026, with a focus on expanding through both company-owned and franchise stores [6][12] - The company anticipates an increase in the franchise mix of net new stores over the next few years [23][32]

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2月5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 | 每股發行/出售價 (註4) | ...

Core Viewpoint - Yum China Holdings (YUMC) is expected to report quarterly earnings of $0.30 per share, reflecting a year-over-year increase of 20%, with anticipated revenues of $2.67 billion, a 7% increase compared to the previous year [1]. Earnings Estimates - The consensus EPS estimate has been revised 3.5% lower over the last 30 days, indicating a reevaluation by analysts [2]. - Revisions to earnings estimates are crucial for predicting investor actions, as empirical research shows a strong correlation between these trends and short-term stock performance [3]. Revenue Projections - Analysts estimate 'Revenues- Other revenues' to reach $39.76 million, a year-over-year change of -0.6% [5]. - 'Revenues- Company sales' are projected at $2.49 billion, indicating a +6.1% change from the prior-year quarter [5]. - 'Revenues- Revenues from transactions with franchisees' are expected to be $104.22 million, reflecting a +15.8% change from the year-ago quarter [5]. - 'Revenues- Franchise fees and income' are forecasted to reach $24.57 million, a +22.9% year-over-year change [6]. - 'Revenues- Pizza Hut' are expected to be $525.27 million, indicating a +5.9% change from the prior-year quarter [6]. Same-store Sales Estimates - The consensus estimate for 'Same-store sales, excluding F/X - KFC' is -0.3%, down from 3% in the same quarter last year [7]. - 'Same-store sales, excluding F/X - Pizza Hut' are projected at -1.8%, compared to 6% in the previous year [7]. - The overall estimate for 'Same-store sales, excluding F/X - Total' is -0.6%, down from 4% year-over-year [7]. Restaurant Count Projections - Analysts forecast 'No of Restaurants - Pizza Hut' to reach 3,724, up from 3,312 in the previous year [8]. - 'No of Restaurants - Others' is estimated at 990, down from 1,036 year-over-year [8]. - 'No of Restaurants - KFC' is projected to be 11,645, compared to 10,296 in the same quarter last year [8]. Market Performance - Over the past month, Yum China shares have recorded returns of +0.1%, while the Zacks S&P 500 composite has changed by +1% [8]. - Based on its Zacks Rank 3 (Hold), Yum China is expected to perform in line with the overall market in the upcoming period [9].

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2月4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 ...

Yum China Holdings, Inc. (YUMC) is scheduled to report fourth-quarter 2024 results on Feb. 6, before the opening bell.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.In the last reported quarter, the company’s adjusted earnings topped the Zacks Consensus Estimate by 13.2% and rose 17% year over year. Total revenues marginally missed the consensus mark by 0.3% but grew 5.4% from the year-ago quarter.YUMC’s earnings surpassed expectations in each of the trailing four quarters, the avera ...

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2月2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 | 已發行股份（不包括庫存股份）數 | | 佔 ...