Core Insights - Yum China (09987.HK) reported a 14% increase in operating profit to $304 million for Q2 2025, achieving a record high for the second quarter [1] - Total revenue grew by 4% year-on-year to $2.8 billion, with the same growth rate excluding foreign exchange impacts [1] - The operating profit margin reached 10.9%, up 100 basis points year-on-year, driven by improved restaurant profit margins and reduced management expenses [1] Financial Performance - Core operating profit also increased by 14% year-on-year [1] - Diluted earnings per share rose by 5% to $0.58, marking another record high for the second quarter [1] - Excluding the impact of foreign exchange and a $0.04 adjustment for equity investments, diluted earnings per share increased by 15% [1] Sales and Growth Metrics - System sales increased by 4% year-on-year, benefiting from a net addition of 336 stores and a 1% same-store sales growth [2] - Same-store transaction volume grew by 2%, marking the tenth consecutive quarter of growth [2] - Delivery sales surged by 22%, accounting for approximately 45% of restaurant revenue, with digital order revenue reaching $2.4 billion, representing 94% of restaurant income [2] Customer Engagement and Strategy - The combined membership for KFC and Pizza Hut reached approximately 560 million, a 13% increase year-on-year, with member sales accounting for 64% of system sales [2] - The CEO highlighted the company's focus on efficiency and innovation, with successful product launches driving customer engagement [3][4] - KFC expanded its coffee offerings to over 1,300 locations, while Pizza Hut introduced new menu items to attract previously untapped customer segments [4] Shareholder Returns - Yum China returned $274 million to shareholders in Q2, including $184 million in stock buybacks and $90 million in cash dividends [2]
格隆汇公告精选(港股)︱百胜中国(09987.HK)第二季度经营利润增长14%至3.04亿美元 经营利润率创下第二季度新高