永和大王等中国业务或被“打包”上市，快乐蜂意图国际资本

Group 1 - The core strategy of Jollibee Foods Corporation is to spin off all international operations, including its China business, into a new entity called "Jollibee International Company," with plans for an independent listing on a U.S. stock exchange by the end of 2027 [2][3] - The spin-off aims to allow the original Jollibee Group to focus on its strong and stable cash flow from the Philippine market, while the new entity will pursue global expansion ambitions [3] - The China segment, which includes brands like Yonghe King and Hongzhuangyuan with over 550 stores, is facing intense local competition, prompting strategic adjustments such as lowering menu prices to attract customers and significantly reducing new store opening costs [3][4] Group 2 - The restructuring is expected to provide more resources for Chinese brands like Yonghe King to accelerate their transformation and expansion in the local market [4] - The success of the planned U.S. listing will depend on market conditions and regulatory approvals, but it represents a significant move in the capital landscape for the Chinese fast-food sector [4] - The spin-off is seen as a "shot in the arm" for Jollibee's international business, particularly in China, enhancing brand visibility and attracting investment focused on either the stable Philippine market or the high-growth international narrative [3]