SHANGHAI, Jan. 25, 2024 /PRNewswire/ -- Yum China Holdings, Inc. (NYSE: YUMC and HKEX: 9987, "Yum China" or the "Company") today announced, in compliance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "HKEX") which require advance notice of board meetings at which a dividend is expected to be declared, that its board of directors (the "Board") will consider the declaration and payment of a quarterly dividend (the "Dividend"). If the Board decides to procee ...

Core Insights - Yum China Holdings, Inc. has been recognized as a Top Employer China for the sixth consecutive year, ranking fourth overall among more than 150 companies and first in the restaurant industry, reflecting its commitment to employee welfare and development [1][2] Group 1: Employee Commitment and Recognition - The recognition as a Top Employer highlights Yum China's performance in People Strategy, Digital HR, Working Environment, and Career Development, showcasing its "People First" philosophy [1] - CEO Joey Wat emphasized the importance of the "Fair, Care, and Pride" principle in fostering a vibrant and inclusive culture that supports employee growth [1] - The company has over 400,000 employees, with female representation exceeding 50% of the total workforce by the end of 2023, demonstrating its commitment to diversity and inclusion [1] Group 2: Talent Development and Training - Yum China offers a suite of learning and development programs, including structured career advancement opportunities and specialized training for various roles [2] - The "Yum China Bytes & Bites Program" was launched in 2023 to provide working opportunities for approximately 80 students from leading Chinese universities, integrating technology with practical experience [2] - The "Angel Restaurants" initiative supports employees with special needs, with KFC China operating 46 such restaurants employing over 200 individuals by June 2023 [2] Group 3: Technological Innovation - The company is a pioneer in digital transformation, utilizing AI for demand forecasting, inventory management, crew scheduling, and production, which enhances operational efficiency and promotes sustainable growth [3] Group 4: Company Overview - Yum China is the largest restaurant company in China, operating over 14,000 restaurants across 1,900 cities under six brands, including KFC and Pizza Hut [5] - The company has a strong digitalized supply chain and logistics network, enabling it to serve customers effectively and efficiently [5] - As a Fortune 500 company, Yum China aims to be the world's most innovative pioneer in the restaurant industry [5]

Yum China Holdings, Inc. (YUMC) is likely to benefit from menu innovation efforts, marketing campaigns and digital initiatives. Also, the focus on unit expansion efforts bodes well. However, uncertain macroeconomic conditions and wage inflation are a concern.Let us discuss the factors highlighting why investors should retain the stock for now.CatalystsYUM China's strategy for capturing sales growth revolves around providing good food and exceptional value. Noteworthy food innovations, such as the Juicy Whol ...

SHANGHAI, Dec. 21, 2023 /PRNewswire/ -- Yum China Holdings, Inc. (the "Company" or "Yum China", NYSE: YUMC and HKEX: 9987) today announced that the Company has been ranked number one globally for the Restaurant & Leisure Facilities Industry in the S&P Global 2023 Corporate Sustainability Assessment (CSA). For the fourth consecutive year, Yum China has been selected as a member of both the Dow Jones Sustainability Indices (DJSI): World Index (DJSI World) and Emerging Market Index (DJSI Emerging Markets). It ...

Part I. Financial Information [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents unaudited condensed consolidated financial statements, including income, comprehensive income, cash flows, balance sheets, and equity, with detailed notes [Condensed Consolidated Statements of Income](index=3&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Q3 & YTD 2023 Financial Performance Highlights (in US$ millions, except per share data) | Metric | Q3 2023 | Q3 2022 | YTD 2023 | YTD 2022 | | :--- | :--- | :--- | :--- | :--- | | **Total Revenues** | $2,914 | $2,685 | $8,485 | $7,481 | | **Operating Profit** | $323 | $316 | $996 | $588 | | **Net Income (Yum China)** | $244 | $206 | $730 | $389 | | **Diluted EPS** | $0.58 | $0.49 | $1.73 | $0.92 | [Condensed Consolidated Statements of Comprehensive Income](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) Comprehensive Income (Loss) (in US$ millions) | Metric | Q3 2023 | Q3 2022 | YTD 2023 | YTD 2022 | | :--- | :--- | :--- | :--- | :--- | | **Net Income** | $267 | $227 | $794 | $420 | | **Foreign currency translation adjustments** | $(29) | $(306) | $(274) | $(573) | | **Comprehensive Income (Loss) (Yum China)** | $218 | $(56) | $491 | $(101) | [Condensed Consolidated Statements of Cash Flows](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Year-to-Date Cash Flow Summary (in US$ millions) | Cash Flow Activity | YTD Ended 9/30/2023 | YTD Ended 9/30/2022 | | :--- | :--- | :--- | | **Net Cash Provided by Operating Activities** | $1,334 | $1,329 | | **Net Cash Used in Investing Activities** | $(1,052) | $(593) | | **Net Cash Used in Financing Activities** | $(240) | $(583) | | **Cash, Cash Equivalents, and Restricted Cash - End of Period** | $1,131 | $1,211 | [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Balance Sheet Summary (in US$ millions) | Account | 9/30/2023 (Unaudited) | 12/31/2022 | | :--- | :--- | :--- | | **Total Current Assets** | $3,923 | $3,940 | | **Total Assets** | $12,070 | $11,826 | | **Total Current Liabilities** | $2,472 | $2,166 | | **Total Liabilities** | $4,811 | $4,666 | | **Total Equity** | $7,246 | $7,148 | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) - The company operates KFC, Pizza Hut, and other brands in China under a 50-year master license agreement with YUM! Brands, paying a **3% license fee** on net system sales[25](index=25&type=chunk) - As of September 30, 2023, the company operated over **9,900 KFC stores** and over **3,200 Pizza Hut restaurants** in China[26](index=26&type=chunk) - The company's two reportable segments are KFC and Pizza Hut. All other brands and business units are combined into "All Other Segments"[29](index=29&type=chunk) - The company is under a national audit on transfer pricing by the Chinese State Taxation Administration (STA) regarding related party transactions from 2006 to 2015. The potential impact cannot be reasonably estimated but could be material[113](index=113&type=chunk) - Subsequent to the quarter end, the Board of Directors declared a cash dividend of **$0.13 per share** and increased the share repurchase authorization by **$1 billion** to an aggregate of **$3.4 billion**[124](index=124&type=chunk)[125](index=125&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=33&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management analyzes financial condition and results, covering consolidated and segment performance, liquidity, capital resources, and significant trends including post-COVID recovery and tax matters [Results of Operations](index=34&type=section&id=Results%20of%20Operations) This section details the company's financial performance, analyzing consolidated results, segment-specific sales, restaurant profit, operating profit, and corporate unallocated items Q3 2023 Performance Summary (% Change vs Q3 2022, Ex-F/X) | Segment | System Sales | Same-Store Sales | Operating Profit | | :--- | :--- | :--- | :--- | | **KFC** | +15% | +4% | +10% | | **Pizza Hut** | +13% | +2% | +1% | | **Total** | +15% | +4% | +9% | YTD 2023 Performance Summary (% Change vs YTD 2022, Ex-F/X) | Segment | System Sales | Same-Store Sales | Operating Profit | | :--- | :--- | :--- | :--- | | **KFC** | +21% | +9% | +63% | | **Pizza Hut** | +19% | +7% | +60% | | **Total** | +20% | +8% | +79% | - YTD Operating Profit growth (Ex-F/X) was driven by increased sales, favorable commodity prices, and increased VAT deductions, partially offset by increased value promotions, wage inflation, and lower temporary relief[140](index=140&type=chunk) - KFC's YTD Restaurant Profit (Ex-F/X) increased primarily due to higher sales, increased VAT deductions, and favorable commodity prices[170](index=170&type=chunk) - Pizza Hut's YTD Restaurant Profit (Ex-F/X) increased due to higher sales, favorable commodity prices, and increased VAT deductions[180](index=180&type=chunk) [Significant Known Events, Trends or Uncertainties](index=50&type=section&id=Significant%20Known%20Events%2C%20Trends%20or%20Uncertainties) This section outlines key external and internal factors influencing future results, including post-pandemic recovery, softening consumer demand, tax examinations, and VAT policy uncertainties - The company observed softening consumer demand in late September through October 2023, and expects the post-pandemic economic recovery to be a "wave-like" and "non-linear" process[194](index=194&type=chunk)[195](index=195&type=chunk) - The company is under a national audit on transfer pricing by the Chinese State Taxation Administration (STA) for the period 2006-2015, with a focus on the franchise arrangement with YUM. The potential impact is not yet estimable but could be material[196](index=196&type=chunk) - A preferential VAT policy allowing additional input VAT deductions was extended to December 31, 2023, but at a reduced rate. It is uncertain if this policy will continue upon expiration[202](index=202&type=chunk) [Liquidity and Capital Resources](index=51&type=section&id=Liquidity%20and%20Capital%20Resources) This section details the company's financial position, funding sources, and capital allocation strategy, including store expansion, technology investments, shareholder returns, and borrowing capacity - Fiscal year 2023 capital expenditures are expected to be in the range of **$700 million to $900 million**[208](index=208&type=chunk) - During the nine months ended September 30, 2023, the company repurchased **4.9 million shares** for **$281 million** and paid cash dividends of approximately **$162 million**[210](index=210&type=chunk)[211](index=211&type=chunk) - As of September 30, 2023, the company had approximately **$535 million** in unused credit facilities[215](index=215&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=55&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section details the company's exposure to market risks, including foreign currency exchange rate fluctuations, commodity price volatility, and investment risk from equity holdings - The company is exposed to foreign currency risk as substantially all assets are in China. A hypothetical **10% weakening of the RMB** against the US$ would have decreased Q3 2023 Operating Profit by approximately **$31 million**[223](index=223&type=chunk) - The company faces investment risk from its equity investment in Meituan, which is recorded at fair value and is subject to market price volatility[225](index=225&type=chunk) [Item 4. Controls and Procedures](index=55&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of September 30, 2023, with no material changes to internal control over financial reporting - Management concluded that the company's disclosure controls and procedures were effective as of September 30, 2023[227](index=227&type=chunk) - There were no material changes to the company's internal control over financial reporting during the third quarter of 2023[228](index=228&type=chunk) Part II. Other Information [Item 1. Legal Proceedings](index=57&type=section&id=Item%201.%20Legal%20Proceedings) The company is subject to various lawsuits but believes ultimate liability will not materially adversely affect its financial condition or results - The company believes that the ultimate liability from various lawsuits is not likely to have a material adverse effect on its financial results, condition, or cash flows[123](index=123&type=chunk)[230](index=230&type=chunk) [Item 1A. Risk Factors](index=57&type=section&id=Item%201A.%20Risk%20Factors) No material changes from risk factors previously disclosed in the Annual Report on Form 10-K for the year ended December 31, 2022 - There have been no material changes from the risk factors disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2022[231](index=231&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=57&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the company's share repurchase activity during Q3 2023, including shares repurchased and average price paid under its program Share Repurchases in Q3 2023 | Period | Total Shares Repurchased (thousands) | Average Price Paid Per Share ($) | | :--- | :--- | :--- | | July 2023 | 352 | $58.32 | | August 2023 | 2,001 | $54.43 | | September 2023 | 514 | $54.91 | | **Total Q3** | **2,867** | **$54.91** | - As of September 30, 2023, approximately **$870 million** remained available for future share repurchases under the authorized program[233](index=233&type=chunk)

Yum China Holdings, Inc. (NYSE:YUMC) Q3 2023 Earnings Conference Call October 31, 2023 8:00 PM ET Company Participants Joey Wat - Chief Executive Officer Andy Yeung - Chief Financial Officer Michelle Shen - Director of Investor Relations Conference Call Participants Michelle Cheng - Goldman Sachs Lin Sijie - CICC Christine Peng - UBS Chen Luo - Bank of America Lillian Lou - Morgan Stanley Anne Ling - Jefferies Ethan Wang - CLSA Xiaopo Wei - Citi Operator Thank you for standing by, and welcome to the Yum Chi ...

Third Quarter 2023 Results 1 November 2023 NYSE: YUMC and HKEX: 9987 Cautionary Statement on Forward-Looking Statements & Non-GAAP Measures Thispresentation contains“forward-lookingstatements” withinthemeaningof Section 27Aof the SecuritiesAct of 1933and Section 21E ofthe SecuritiesExchangeActof1934.Weintendallforward-lookingstatementstobecovered bythesafe harbor provisionsofthePrivateSecurities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do no ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _________________ Commission file number 001-37762 Yum China Holdings, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 81 ...

Yum China Holdings, Inc. (NYSE:YUMC) Q2 2023 Earnings Conference Call July 31, 2023 8:00 PM ET Company Participants Michelle Shen - Director of Investor Relations Joey Wat - Chief Executive Officer Andy Yeung - Chief Financial Officer Conference Call Participants Michelle Cheng - Goldman Sachs Group, Inc. Brian Bittner - Oppenheimer & Co. Chen Luo - Bank of America Merrill Lynch Anne Ling - Jefferies Sijie Lin - CICC Lillian Lou - Morgan Stanley Christine Peng - UBS Operator Thank you for standing by, and w ...

Second Quarter 2023 Results 1 August 2023 NYSE: YUMC and HKEX: 9987 Cautionary Statement on Forward-Looking Statements & Non-GAAP Measures Thispresentation contains“forward-lookingstatements” withinthemeaningof Section 27Aof the SecuritiesAct of 1933and Section 21E ofthe SecuritiesExchangeActof1934.Weintendallforward-lookingstatementstobecovered bythesafe harbor provisionsofthePrivateSecurities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not ...