Core Insights - Yum China Holdings, Inc. reported third-quarter revenue of $3.2 billion, a 4% year-over-year increase, with operating profit rising 8% to $400 million [1] - The company achieved positive same-store sales growth for the 11th consecutive quarter, with same-store transaction volume increasing by 4% [1] - The operating profit margin improved to 12.5%, reflecting a 40 basis points year-over-year increase [1] Store Expansion and Brand Performance - Yum China accelerated its store expansion, adding a net of 536 new stores, bringing the total to 17,514 by the end of September, including 12,640 KFC and 4,022 Pizza Hut locations [1] - KFC demonstrated resilience with system sales growth of 5% and same-store sales growth of 2%, alongside a 3% increase in same-store transaction volume [1] - KFC's membership base reached approximately 575 million, a 13% year-over-year increase [1] Coffee and New Concepts - KFC's coffee brand, Kenuo Coffee, expanded to 1,800 locations, benefiting from menu innovation and platform promotion, with average daily sales per store increasing by 30% year-over-year [2] - KPRO, focusing on energy bowls and superfood smoothies, has expanded to over 100 locations in high-tier cities by leveraging shared resources with KFC [2] - Pizza Hut plans to accelerate new store openings starting in the first half of 2025, with a record net addition of 158 stores in the third quarter, surpassing 4,000 total locations [2] Shareholder Returns and Future Goals - The company returned $950 million to shareholders in the first three quarters of 2025, including $682 million in stock buybacks and $268 million in cash dividends [3] - Yum China aims to return $3 billion to shareholders between 2025 and 2026, with an average annual return amounting to approximately 9% of the company's market value as of November 3, 2025 [3] - For 2025, the company maintains a target of approximately 1,600 to 1,800 net new store openings, with franchise stores expected to account for 40%-50% of KFC and 20%-30% of Pizza Hut's new openings [3]
百胜中国第三季度经营利润同比增长8%，必胜客门店总数突破4000家