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4月24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 | 每 ...

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4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 | | | 庫存股份變動 ...

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 FF305 公司名稱： 百勝中國控股有限公司("本公司") 呈交日期： 2025年4月22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) ...

从一季度业绩表现来看，鹏华碳中和主题A以60.26%的回报率领先，永赢先进制造智选A（52.32%）紧 随其后，两者均聚焦新能源、高端制造等政策利好赛道。相比之下，消费、医疗及部分传统能源主题基 金表现低迷，如兴全趋势投资（-6.31%）、华夏能源革新A（-0.89%）等，或凸显市场对成长性与估值 修复逻辑的分歧。 专题：2025基金一季报：最新持仓曝光！ 2025年一季度收官，A股市场结构性行情凸显，百亿规模以上的权益类基金业绩呈现显著分化。从碳中 和主题的强势领涨，到消费、能源板块的持续承压，基金经理的调仓能力与行业配置策略经受考验。 据Wind数据统计，截至2025年4月21日，权益类基金（包括普通股票型基金、偏股混合型基金、平衡混 合型基金、灵活配置型基金）中，共有28只基金规模达到百亿以上。 | 序号 | 证券代码 | 证券简称 | | 季度回报 今年以来回报 | 基金规模 | 非金经理 | | --- | --- | --- | --- | --- | --- | --- | | | | | × | ళ్ళి | 亿元 | | | 1 | 016530.OF | 删华碳中和主题A | 60.26 ...

Core Insights - Yum China reported a record revenue of $11.3 billion for 2024, marking a 3% year-on-year increase, with restaurant revenue contributing approximately 94% of total revenue [2] - The company faces challenges in same-store sales, which declined by 3%, indicating pressure on profitability despite overall revenue growth [2][3] - The strategic focus on expanding into lower-tier cities and increasing franchise store ratios is aimed at overcoming geographical limitations and enhancing market penetration [4] Revenue Growth and Profit Structure - Total revenue reached $11.3 billion, with restaurant income at $10.651 billion, primarily driven by KFC's $8.5 billion revenue, accounting for 75% of total revenue [2] - KFC's same-store sales fell by 4%, while Pizza Hut's dropped by 10%, reflecting a reliance on store expansion rather than same-store performance [2] - The company added 1,751 new stores, bringing the total to 16,400, covering over 2,200 towns [2] Profitability and Cost Management - Core operating profit increased by 12% to $1.19 billion, but KFC's operating margin decreased by 0.8 percentage points to 16.9% due to rising labor costs and changes in product mix [3] - Pizza Hut improved its profit margin by 0.2 percentage points to 12% through menu adjustments and the "WOW store" model [3] - The company announced a $1.5 billion shareholder return plan, including $248 million in dividends and $1.24 billion in stock buybacks, supported by a strong operating cash flow of $1.4 billion [3] Strategic Transformation and Future Challenges - Yum China is accelerating its penetration into lower-tier cities, with franchise stores expected to increase to 40-50% for KFC and 20-30% for Pizza Hut [4] - The company faces management challenges with rapid expansion, as the payback period for new stores has extended from 2 years to 2-3 years [4] - Digital initiatives have shown promise, with over 670 million members and digital orders accounting for 90% of sales, but rising costs in innovation, particularly in the coffee segment, pose risks [4] Compliance and Market Position - The transgenic oil incident in Tianjin highlighted compliance weaknesses, potentially increasing food safety compliance costs amid stricter regulations [5] - The company lost 2 percentage points in market share in the 10-20 yuan price segment to local competitors, indicating heightened price sensitivity among consumers [5] - The balance between high quality and affordability will be crucial for maintaining market leadership in a competitive landscape [5]

Core Viewpoint - Yum China has released its 2024 Sustainability Report, highlighting its leading position in the restaurant industry with an MSCI ESG rating of AA for three consecutive years, indicating strong performance in governance and waste management, while identifying areas for improvement in labor management [3][5][7]. Group 1: ESG Performance - Yum China's MSCI ESG rating is AA, placing it at the forefront of the restaurant sector [3]. - The company excels in "corporate governance" and "packaging and waste," while performing at an average level in "corporate behavior" and "raw material procurement," and is lagging in "labor management" compared to peers [5][7]. - There is a noted lack of comprehensive data on employee turnover and satisfaction, with only 9.7% of restaurant manager turnover disclosed, making it difficult to assess overall employee stability [7]. Group 2: Employee Management - As of 2024, Yum China has 16,400 stores, a 12% increase year-on-year, but the total number of employees has decreased by 19% to 350,000, with full-time employees making up about 40% [7]. - The company has implemented a performance stock incentive plan for its CEO and key employees, linking ESG goals to compensation, including metrics on salt and sugar reduction, food waste, and greenhouse gas emissions [8]. Group 3: Carbon Reduction Goals - Yum China is the only restaurant company in China with approved science-based carbon reduction targets, aiming for a 63% reduction in operational carbon emissions by 2035 from a 2020 baseline [9]. - The company has set a short-term goal to reduce operational carbon emissions by 20% per store by 2025, which is part of the performance metrics for stock incentives [9][10]. - In 2024, the total operational carbon emissions were 2.26 million tons, a 2% increase from the previous year, with emissions intensity at 199.67 tons per million dollars in revenue [9][10]. Group 4: Store Expansion and Sustainability - Yum China plans to expand its store count to 20,000 by 2026, focusing on both existing and emerging urban markets [11]. - The company is increasing the proportion of franchise stores, with franchise growth rates reaching 26% in 2024, and aims for 40%-50% of new KFC stores to be franchises [11]. Group 5: Food Safety and Quality Control - Yum China has achieved 100% coverage in food safety and quality audits across all restaurants and logistics centers, with over 80% of suppliers certified under global food safety standards [12][15]. - The company has conducted over 300 supplier food safety audits and 3,300 raw material safety checks in the past year [14].

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 9 頁 v 1.3.0 | 2). | 就根據股份計劃授予參與人（發行人的董事除外）的股份獎勵或期權 | 1 | 0 % | USD | 41.37 | | | --- | --- | --- | --- | --- | --- | --- | | | 而發行新股或轉讓庫存股份 - 涉及新股 | | | | | | | | 公司採納的長期激勵計劃項下的授予而發行的股票 | | | | | | | | 變動日期 2025年4月17日 | | | | | | | | 於下列日期結束時的結存 (註5及6) 2025年4月17日 | 374,319,859 | | 0 | | 374,319,859 | | | B. 贖回/購回股份 (擬註銷但截至期終結存日期尚未註銷) (註5及6) | | | | | | | 1). | 於2025年3月11日在香港購回之股份 | 12,200 | 0 % | HKD | 382.93 | | | | 變動日期 2025年3月 ...

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4月17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 | | | ...

Group 1 - The Nasdaq Golden Dragon China Index experienced a preliminary decline of 2.6% [1] - Notable declines were observed in popular Chinese concept stocks, with Xiaoma Zhixing down 10%, XPeng and JD.com dropping over 5%, and Alibaba and Xiaomi ADRs falling over 4% [1] - Other companies such as Bilibili, Li Auto, NIO, New Oriental, and Baidu saw declines of at least 2%, while Tencent ADR, Pinduoduo, and Yum China dropped over 1% [1] Group 2 - The Chinese concept ETF YANG increased by 6.6%, while CQQQ and KWEB decreased by 2.1% and 2.8% respectively [1]

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，並明確表示概不會就本公告全部或任何部分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。 有關可能宣派季度股息的董事會決議案的日期 百勝中國控股有限公司董事會（「董事會」）僅此宣佈其考慮宣派及支付季度股息 （「股息」）。倘董事會決定進行，宣派將於2025年4月30日（北京/香港時間）或前後以 董事會決議案採納。 由於截至本公告日期尚未採納有關股息的董事會決議案，概不保證將宣派股息。 Yum China Holdings, Inc. 承董事會命 百勝中國控股有限公司 屈翠容 董事及首席執行官 百 勝 中 國 控 股 有 限 公 司 香港，2025年4月16日 ( 於美利堅合眾國特拉華州註冊成立的有限公司 ) 於本公告日期，本公司董事會包括董事會主席及獨立董事胡祖六博士、董事屈翠容女士及 Robert B. AIKEN 先生、以及 獨立董事 Peter A. BASSI 先生、 Mikel A. DURHAM 女士、 Edouard ETTEDGUI 先生、 David HOFFMANN 先生、盧蓉 ...