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 香港，2025年3月11日 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。 Yum China Holdings, Inc. 百 勝 中 國 控 股 有 限 公 司 （ 於美利堅合眾國特拉華州註冊成立的有限公司） （ 股份代號：9987） 2025 年 股 東 週 年 大 會 記 錄 日 期 百勝中國控股有限公司（「本公司」）謹此宣佈，用於確定符合資格出席本公司2025年股東 週年大會（「週年大會」）並在會上投票的本公司普通股（「普通股」）持有人的記錄日期將 為2025年3月25日（星期二）。為符合資格出席週年大會並在會上投票，就於香港股東名 冊登記的普通股而言，所有填妥之過戶文件連同相關股票最遲須於2025年3月25日（星期 二）下午四時三十日（香港時間）送達本公司的香港股份過戶登記處證券登記有限公司，地 址為香港灣仔皇后大道東183號合和中心17樓1712至1716號舖。週年大會的日期及時 ...

Company Overview - Yum China Holdings, Inc. is the largest restaurant company in China, operating over 16,000 restaurants across more than 2,200 cities under six brands, including KFC and Pizza Hut, which are leaders in their respective segments [6] - The company has a mission to make every life taste beautiful and aims to be the world's most innovative pioneer in the restaurant industry [6] Leadership Appointment - Adrian Ding has been appointed as Chief Financial Officer, effective March 6, 2025, after serving as Acting CFO since October 2024 [1] - CEO Joey Wat expressed confidence in Adrian's ability to drive the company's RGM 2.0 strategy, highlighting his significant contributions over the past five months [2] Adrian Ding's Background - Adrian joined Yum China in March 2019 as Vice President of Corporate Finance and served as Chief Investment Officer from February 2020 to March 2025 [2] - He has led multiple investment and capital markets projects, including acquisitions and strategic investments in supply chain and technology [2] - Prior to Yum China, Adrian worked at Alibaba Group and has extensive experience in investment banking with firms like UBS, Morgan Stanley, and Citigroup [3]

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3月9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) | ...

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") FF305 | 9). | 於2025年1月21日在香港購回之股份 | | 13,350 | 0 % | HKD | 351.29 | | --- | --- | --- | --- | --- | --- | --- | | | 變動日期 | 2025年1月21日 | | | | | | 10). | 於2025年1月22日在香港購回之股份 | | 13,500 | 0 % | HKD | 346.97 | | | 變動日期 | 2025年1月22日 | | | | | | 11). | 於2025年1月23日在香港購回之股份 | | 13,450 | 0 % | HKD | 346.42 | | | 變動日期 | 2025年1月23日 | | | | | | 12). | 於2025年1月24日在香港購回之股份 | | 13,450 | 0 % | HKD | 348.2 | | | 變動日期 | 2025年1月24日 ...

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 10 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 | | 4,579 | 0 % | USD | 50.43 | | | --- | --- | --- | --- | --- | --- | --- | --- | | | 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3月5日 | | | | | | | | | 於下列日期結束時的結存 (註5及6) 2025年3月5日 | | 376,261,018 | | 0 | | 376,261,018 | | | 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1月6日在香港購回之股份 | | 13,700 | 0 % | HKD | 342.6 ...

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) FF305 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3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 | ...

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 | 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 | 32,061 | 0.01 % | USD | 49.02 | | | --- | --- | --- | --- | --- | --- | --- | | | 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3月3日 | | | | | | | | 於下列日期結束時的結存 (註5及6) 2025年3月3日 | 376,352,612 | | 0 | | 376,352,612 | | | 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1月6日在香港購回之股份 | 13,700 | 0 % | HKD | 342.66 | | | | 變動日期 2025年1月6日 | | | | | | ...

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

公司名稱： 百勝中國控股有限公司("本公司") 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 FF305 第 2 頁 共 10 頁 v 1.3.0 | 9). | 於2025年1月21日在香港購回之股份 | | 13,350 | 0 % | HKD | 351.29 | | --- | --- | --- | --- | --- | --- | --- | | | 變動日期 | 2025年1月21日 | | | | | | 10). | 於2025年1月22日在香港購回之股份 | | 13,500 | 0 % | HKD | 346.97 | | | 變動日期 | 2025年1月22日 | | | | | | 11). | 於2025年1月23日在香港購回之股份 | | 13,450 | 0 % | HKD | 346.42 | | | 變動日期 | 2025年1月23日 | | | | | | 12). | 於2025年1月24日在香港購回之股份 | | 13,450 | 0 % | HKD | 348.2 | ...

Financial Performance - Total revenue grew by 3% to $11.3 billion, marking a new high since the spin-off; excluding foreign currency effects, revenue would have increased by 5%[6] - Total revenue for 2024 reached $11,303 million, a 3% increase from $10,978 million in 2023[28] - The company reported a total revenue of $900 million, representing a 10% increase year-over-year[34] - Total revenue for the company reached $11,911 million for the year ending December 31, 2024, with KFC and Pizza Hut contributing $8,509 million and $2,260 million, respectively[110] - Total revenue for 2023 was $10,978 million, an increase of 9% compared to $9,569 million in 2022[112] - Company restaurant revenue reached $10,391 million in 2023, up from $9,110 million in 2022, reflecting a growth of 14%[112] Profitability - Operating profit increased by 5% to $1.2 billion, with core operating profit up by 12%[6] - Net profit for 2024 was $911 million, up 10% from $827 million in 2023[28] - The company reported a net income of $150 million, a 12% increase compared to the last quarter[34] - Net profit for 2023 was $911 million, compared to $827 million in 2022, representing a year-over-year increase of 10%[116] - Basic earnings per diluted share grew by 18% to $2.33, a new annual high, or 22% excluding foreign currency effects[6] - Basic earnings per share (EPS) for 2023 was $2.34, up from $1.99 in 2022, indicating a growth of 18%[116] Store Expansion - System sales increased by 5% year-over-year, driven by a 7% contribution from net new stores, with same-store sales reaching 97% of last year's level[6] - Total store count increased by 12%, with a net addition of 1,751 stores, of which 512 were franchised, accounting for approximately 29% of net new stores[6] - As of December 31, 2024, Yum China operates 11,648 KFC stores in China, holding controlling interests of 58% to 92% in various regions[38] - As of December 31, 2024, there are 3,724 Pizza Hut restaurants in China, marking significant growth since its first opening in 1990[39] Digital and Delivery Growth - Delivery sales rose by 14%, maintaining a decade-long trend of double-digit annual growth, representing 39% of KFC and Pizza Hut restaurant revenue[6] - Digital order revenue reached $9.6 billion, accounting for approximately 90% of restaurant revenue[6] - KFC and Pizza Hut membership exceeded 525 million, an 11% increase year-over-year, with member sales accounting for 65% of total system sales[6] Shareholder Returns - Yum China plans to return $1.5 billion to shareholders in 2024, including $248 million in cash dividends and $1.24 billion in stock buybacks, equivalent to about 8% of shares outstanding as of December 31, 2023[6] - Total cash dividends paid to shareholders in 2024, 2023, and 2022 were $248 million, $216 million, and $202 million respectively[171] Tax and Audit Matters - The company is currently undergoing a transfer pricing audit by the State Taxation Administration of China, with a likelihood of over 50% that the tax status will be maintained[15] - The audit focuses on related party transactions from 2006 to 2015, assessing the effectiveness of internal controls related to uncertain tax positions[15] - The company has engaged tax professionals to assist in interpreting applicable tax laws and regulations, which is crucial given the complexity of tax laws[15] - The company is responsible for preparing consolidated financial statements that are free from material misstatement due to fraud or error, as per US GAAP and Hong Kong Companies Ordinance[18] Assets and Liabilities - Total assets decreased from $12,031 million in 2023 to $11,121 million in 2024, a decline of approximately 7.6%[33] - Total liabilities decreased from $4,912 million in 2023 to $4,694 million in 2024, a reduction of about 4.4%[33] - Shareholders' equity decreased from $7,106 million in 2023 to $6,414 million in 2024, a decline of approximately 9.7%[33] Capital Expenditures - Capital expenditures for 2024 totaled $705 million, slightly down from $710 million in 2023[32] - Capital expenditures for 2024 were $383 million for KFC and $111 million for Pizza Hut, showing an increase from $358 million and $113 million respectively in 2023[196] Impairment and Asset Management - The company recorded impairment charges of $18 million for restaurant-level assets as of December 31, 2024, reflecting a fair value of $51 million for those assets[145] - The company conducts impairment testing for each restaurant as an independent cash-generating unit, reviewing long-term assets every six months or when indicators suggest recoverability issues[61] Market Strategy and Future Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[28] - Market expansion plans include entering three new international markets by Q3 2024[34] - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of $100 million allocated for this purpose[34] Membership and Loyalty Programs - The paid membership program offers various benefits, including free delivery and product discounts, with income recognized proportionally over the membership period[52] - The membership program allows registered members to earn points redeemable for discounts or free products, with estimated point values reducing revenue and recognized as deferred income[57] Financial Instruments and Fair Value - The fair value of financial instruments is determined based on market quotes or discounted cash flow models, incorporating various risk factors[71][74] - The company measures financial instruments at fair value and recognizes changes in fair value in the consolidated income statement[91] Retirement and Employee Benefits - The company provides retirement benefits through a defined contribution plan, with contributions ranging from 5% to 10% of base salary, and participants receive a lump sum upon leaving based on a percentage of the company's contributions[148] - The company has reserved 45 million shares for its long-term incentive plan initiated on October 31, 2016, with stock options and stock appreciation rights having an exercise price equal to or above the market fair value on the grant date[150]