Group 1 - Yum China (09987) announced a share buyback of 17,500 shares for a total cost of HKD 6.2707 million [1] - The company also repurchased 71,500 shares at a cost of USD 3.2 million [1]

Core Viewpoint - Yum China announced share buybacks on August 8, 2023, indicating a commitment to returning value to shareholders through capital management strategies [1] Group 1: Share Buyback Details - The company repurchased 17,500 shares at a cost of HKD 6.2707 million, with each share priced between HKD 357.6 and HKD 363.8 [1] - Additionally, the company repurchased 71,500 shares on the New York Stock Exchange for a total expenditure of USD 3.2 million [1]

Group 1 - Yum China announced a share buyback plan, spending HKD 6.2707 million to repurchase 17,500 shares [1] - The company also plans to spend USD 3.2 million to buy back 71,500 shares [1]

| 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 | 每股發行/出售價 (註4) | 已發行股份總數 | | | | 事件 | | 已發行股份（不包括庫存股份）數 目 | | 佔有關事件前的現有已發 行股份（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | | | | | 於下列日期開始時的結存(註1) | | 2025年8月7日 | | 369,266,628 | | 0 | | | 369,266,628 | | 1). 購回股份 (股份購回並註銷) | | | | -69,855 | 0.02 % | USD | | 45.81 ...

Core Viewpoint - The company is expected to maintain a strong growth trajectory with increasing profitability driven by operational efficiency improvements and a favorable market position in the food and beverage industry [1][2]. Financial Performance - For Q2 2025, the company reported revenue of $2.787 billion, a year-on-year increase of 4% (excluding currency effects) [1]. - Operating profit for Q2 2025 was $304 million, up 14% year-on-year, with an operating profit margin of 10.9%, reflecting a 1.0 percentage point increase [1]. - The net profit attributable to shareholders for Q2 2025 was $215 million, a 1% increase year-on-year (excluding currency effects), with EPS rising by 5% [1]. Same-store Sales and Store Expansion - Same-store sales for Q2 2025 increased by 1% year-on-year, with KFC same-store sales also up by 1% and Pizza Hut by 2% [2]. - As of Q2 2025, the total number of stores reached 16,978, a 10% year-on-year increase, with a net addition of 336 stores in Q2 [2]. - KFC had 12,238 stores, a 12% increase year-on-year, while Pizza Hut had 3,864 stores, also a 10% increase year-on-year [2]. Profitability and Operational Efficiency - The restaurant profit margin for Q2 2025 was 16.1%, up 0.6 percentage points year-on-year, with KFC's margin at 16.9% and Pizza Hut's at 13.3% [2]. - Profitability improvements were attributed to favorable raw material prices and operational streamlining, although increased delivery costs and rising wages partially offset these gains [2].

Group 1: Sales Performance - Multiple tea and coffee brands reported exceeding sales expectations during the "first cup of autumn" event on August 8, with Luckin Coffee selling over 20 million cups on that day [1] - Luckin Coffee's new products and collaborations have garnered significant attention, with the "Yuhui Light Body Fruit and Vegetable Tea" selling over 11.2 million cups within two weeks of its launch [1] - Bawang Tea Ji reported a 200% month-on-month increase and a 28% year-on-year increase in sales for the "first cup of autumn" event [1][2] Group 2: New Product Launches - Hou Shang A Yi launched the "Rich Osmanthus Rice Mochi Milk Tea," which sold nearly 550,000 cups within two days of its release [2] - Tian La La's external sales reached over 20 million yuan, marking a historical peak, with a 500% increase in daily sales [2] Group 3: Market Expansion and Financial Performance - KFC's coffee brand, Kenuo Coffee, aims to expand to 1,700 stores by 2025, up from a previous target of 1,500 stores [4][5] - Yum China reported a 4% year-on-year increase in total revenue to $2.8 billion for Q2, with operating profit reaching a record high of $304 million [5] Group 4: Incident Report - A tragic incident involving a delivery truck from Kudi Coffee resulted in two fatalities, prompting responses from both Kudi Coffee and Tea Yan Yue Se regarding the ongoing investigation [6]

Investment Rating - The investment rating for the company is "Buy" [1][6]. Core Insights - The report highlights that the competition in the food delivery sector has increased rider costs, but the company's efficiency optimization has led to an improvement in profit margins [2]. - The company is expected to return $3 billion to shareholders through dividends and buybacks from 2025 to 2026, with projected EPS growth of 10%/15%/11% for 2025-2027 [10]. - The target price is set at 444 HKD, based on a PE ratio of 22 times for 2025, which is above the industry average [10]. Financial Summary - Total revenue is projected to grow from 10,978 million HKD in 2023 to 13,347 million HKD in 2027, reflecting a CAGR of approximately 6.3% [4]. - Net profit is expected to increase from 827 million HKD in 2023 to 1,096 million HKD in 2027, with a significant growth of 87.1% in 2023 [4]. - The company’s PE ratio is forecasted to decrease from 20.58 in 2024 to 13.72 in 2027, indicating improving valuation metrics [4]. Operational Performance - In Q2 2025, the company reported revenue of $2.787 billion, a year-on-year increase of 4%, with a core operating profit margin of 10.9% [10]. - Same-store sales increased by 1% year-on-year in Q2 2025, with KFC and Pizza Hut showing positive growth [10]. - The total number of stores reached 16,978, with a net increase of 336 stores in Q2 2025, indicating a 10% year-on-year growth [10]. Profitability Metrics - The restaurant profit margin improved to 16.1% in Q2 2025, up 0.6 percentage points year-on-year, driven by favorable raw material prices and operational efficiencies [10]. - KFC's restaurant profit margin was 16.9%, while Pizza Hut's was 13.3% in Q2 2025, reflecting operational improvements [10].

百胜中国(09987)公布，2025年8月7日于港交所耗资约626.79万港元回购1.75万股股份，于纽约证券交易 所耗资约320万美元回购69,855股股份。 ...

格隆汇8月8日丨百胜中国(09987.HK)公告，8月7日耗资627万港元回购1.75万股。 ...

智通财经APP讯，百胜中国(09987)公布，2025年8月7日于港交所耗资约626.79万港元回购1.75万股股 份，于纽约证券交易所耗资约320万美元回购69,855股股份。 ...