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11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 | | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | ...

Core Insights - Pizza Hut China has opened its 4000th store in Hainan, themed "White Sand and Waves Beach Retreat" [2] - The new store features a fully integrated smart management system, combining wearable technology and AI assistant Q Rui for efficient management [2] - The implementation of Q Rui includes voice inventory, voice product handling, voice calling, and emergency reminders, with plans for further development in the next 1-2 years [2] - The store also utilizes various automated equipment such as automatic dispensers, fryers, and dishwashers, marking their first application in Pizza Hut China [2] - Yum China’s latest financial report indicates a 17% year-on-year increase in same-store sales for Pizza Hut, achieving growth for eleven consecutive quarters [2] - The company set a record with 158 new store openings in the latest quarter [2]

Core Insights - The opening of the 4000th store in Sanya marks a new phase for Pizza Hut in China, highlighting accelerated expansion and operational maturity [2] - The company achieved a 17% year-on-year increase in same-store sales for the third quarter, marking the eleventh consecutive quarter of growth [2] - CEO Joey Wat emphasized the importance of the RGM strategy, focusing on business resilience, growth, and strategic advantages [2] Expansion Strategy - Pizza Hut is expanding not only in first-tier cities but also penetrating lower-tier markets with the WOW store model, which includes a "Everyday Low Price" menu [5][8] - As of Q3 2025, the WOW model has been implemented in 250 stores across over 40 previously uncovered towns [5] - The brand aims to enhance value for consumers through improved menu pricing and promotional activities, with membership exceeding 200 million [5][8] Technological Advancements - The introduction of AI systems like "Q-Rui" enhances operational efficiency by managing staff schedules and monitoring service progress [9][10] - Automation in the kitchen, such as pizza topping machines and automated fryers, improves consistency and reduces service time, enhancing customer experience [10] - The focus on technology aims to allow employees to dedicate more time to customer service rather than routine tasks [10] Community Engagement - The launch of the "Little Red Hat Program" aims to foster youth volunteerism and community service, leveraging Pizza Hut's extensive store network [11][13] - The program will initially pilot in major cities and is designed to engage youth in various community service activities [13] Future Growth Plans - Pizza Hut plans to accelerate store openings, targeting over 600 new stores annually for the next three years, aiming to exceed 6000 stores by 2028 [14] - The brand aims to double its profit by 2029 compared to 2024, demonstrating confidence in the Chinese market [14]

Core Insights - Pizza Hut celebrated the opening of its 4000th store in Sanya Bay, Hainan, marking its 35th anniversary in China, reinforcing its position as a "pizza expert" in the market [1][10] Expansion and Growth - The CEO of Yum China, Joey Wat, emphasized the company's commitment to expanding its footprint with advanced technology, unique brand appeal, and efficient operational systems [3] - Pizza Hut has achieved a 17% year-over-year increase in same-store sales, marking the 11th consecutive quarter of growth, with a record addition of 158 new stores in the latest quarter [11] Innovation and Technology - The new Sanya Bay store features a theme that captures the essence of the beach environment, enhancing the consumer experience [5] - The store is equipped with a comprehensive smart management system, including wearable devices and AI technology, aimed at improving operational efficiency and service quality [9] - Automation equipment such as automatic dispensers and dishwashers have been fully implemented in the new store, significantly enhancing operational efficiency and food safety [9] Product Development - Pizza Hut has introduced new product categories, including the "Pizza Hut Burger," and localized offerings like the "Spicy Crab Leg Chicken Burger," reflecting its commitment to product innovation [13] - The company continues to innovate with new pizza products, such as the 10-inch handmade thin crust pizza, which has driven sales growth and reinforced its industry leadership [13] Corporate Social Responsibility - Pizza Hut launched the "Little Red Hat Project," a youth volunteer service initiative in collaboration with the China Volunteer Service Foundation, aiming to foster social responsibility among young people [15][17] - The company emphasizes a "three-win" strategy focusing on consumer satisfaction, brand value, and industry collaboration, integrating local culture with its offerings [11][17]

Core Insights - The opening of the 4,000th store in Sanya marks a new phase for Pizza Hut in China, highlighting accelerated expansion and operational maturity [1] - Pizza Hut's same-store sales increased by 17% year-over-year in Q3 2025, achieving growth for eleven consecutive quarters [1] - The company plans to add over 600 new stores annually for the next three years, aiming to exceed 6,000 stores by 2028 [7] Expansion Strategy - Pizza Hut is expanding into lower-tier cities with the WOW store model, which includes a "Everyday Low Price" menu to lower consumer price barriers and operational costs [2] - As of Q3 2025, the WOW model has been implemented in 250 stores across over 40 previously uncovered towns [2] - The brand has over 200 million members, enhancing its ability to establish a user base in new regions and increase repurchase rates [2] Technological Advancements - The introduction of AI systems like "Q-Rui" enhances operational efficiency by managing staff schedules and monitoring service times [3][4] - Automated equipment such as pizza topping machines and fryers improve food quality consistency and reduce service times [4] - Technology is positioned to augment employee roles rather than replace them, focusing on enhancing customer service experiences [4] Community Engagement - The launch of the "Little Red Hat Program" aims to foster youth volunteerism through community service initiatives [6] - The program will initially pilot in major cities like Beijing and Shanghai, promoting social responsibility among young people [6] Future Commitments - The company aims to double its profit by 2029 compared to 2024 levels, demonstrating confidence in its growth strategy in the Chinese market [7]

Core Viewpoint - Valeo is outlining its strategic plan, "Elevate 2028," which focuses on three key engines to drive growth and profitability through 2028 [1][2]. Group 1: Profit Growth - The first engine of Valeo's strategy is to steadily increase profits, with a commitment to continue the profit growth trend established since 2022 [1]. Group 2: Cash Generation - The second engine focuses on consistently generating higher levels of cash, with 2025 identified as a turning point for cash generation, achieving the highest cash outturn in the company's history [2]. - Valeo has transformed its business model to structurally generate higher cash by reducing expenditures on capital expenditures (CapEx) and research and development (R&D) while increasing profits [2].

Core Points - Yum China hosted its 2025 Investor Day to present its latest strategies and engage with investors [1][2] - The event included a management presentation and a store visit, with simultaneous interpretation available for attendees [2] - Forward-looking statements were made during the presentation, with cautionary notes regarding risk factors included in SEC filings [3] Company Strategy - The management team outlined strategic initiatives aimed at growth and expansion [2] - The agenda included a focus on operational improvements and customer engagement strategies [2] Investor Engagement - The event was designed to enhance communication with investors and provide insights into the company's future direction [1][2] - Management presentations will be made available on the Investor Relations website for further review [3]

Core Viewpoint - Yum China has set an ambitious target to open 30,000 stores by 2030, marking the beginning of an unprecedented expansion phase for the largest chain restaurant group in China [1] Expansion Strategy - The company aims to reach 20,000 stores by 2026, with a total exceeding 25,000 by 2028, primarily driven by KFC, which is expected to grow to over 17,000 locations [2] - The expansion will also include Lavazza and other brands, with a projected total of over 6,000 new stores in the next three years [2] - Currently, Yum China's services cover about one-third of China's population, with a goal to expand to half by 2028 [2] Market Adaptation - Yum China has validated its store model for lower-tier markets, focusing on resilience, growth, and strategic advantages through its RGM strategy [3] - The "WOW model" for Pizza Hut has rapidly developed since its launch in May 2024, helping to penetrate 40 new cities [3] Sales and Pricing Strategy - Same-store sales growth is conservatively projected at 0-2%, necessitating a more thorough mass-market approach [4] - KFC has maintained stable pricing since 2016, while Pizza Hut has strategically reduced prices since 2019, with current prices at about 70% of a decade ago [4][5] Future Growth Drivers - Future same-store growth will rely on increasing order volumes, with successful models like the "shoulder-to-shoulder" store type enhancing customer reach [6] - New initiatives include introducing burgers at Pizza Hut and affordable meal options at KFC targeting budget-conscious consumers [7] Operational Efficiency - The extensive store network supports centralized operations and collaborative innovation [8] - The RGM 3.0 strategy emphasizes resource integration across stores and brands, enhancing operational efficiency [9][10] Supply Chain Optimization - The focus on maximizing the value of key products, such as chicken, is aimed at reducing operational losses [12] - Yum China is advancing integrated industrial park construction to streamline supply chain operations [13][14] Financial Performance and Shareholder Returns - The company aims to increase ROIC from 16.9% in 2024 to approximately 20% by 2028, driven by enhanced profitability and controlled capital expenditures [17] - By 2028, the target operating profit margin is set to be no less than 11.5%, with KFC aiming for 17.3% and Pizza Hut for 14.5% [19] - Yum China plans to return approximately $1.5 billion to shareholders annually from 2024 to 2026, with a goal of distributing nearly all free cash flow from 2027 onwards [23][24]

格隆汇11月21日丨百胜中国(09987.HK)发布公告，2025年11月20日耗资5823.49万港元回购15.41万股， 回购价格每股375.8-380.4港元。 同日，公司于纽交所耗资1520万美元回购31.58万股，每股回购价47.61-48.63美元。 相关事件 百胜中国(09987.HK)11月20日耗资5823.49万港元回购15.41万股 百胜中国(09987.HK)11月19日耗资 5619.67万港元回购15.15万股 ...

Group 1 - Yum China (09987) announced a share repurchase of approximately 315,800 shares at a cost of about $15.2 million on the New York Stock Exchange [1] - The company also repurchased approximately 154,100 shares at a cost of about HKD 58.23 million on the Hong Kong Stock Exchange [1]