Core Viewpoint - Yum China (09987) reported a revenue increase of 4% year-on-year for the fiscal year 2025, reaching $11.797 billion, with a net profit growth of 2% to $929 million, and earnings per share of $2.52 [1] Financial Performance - Total revenue for Q4 was $2.823 billion, reflecting a 9% year-on-year increase, while net profit rose by 22% to $140 million, with earnings per share of $0.40 [1] - Operating profit increased by 25% to $187 million during the same quarter [1] - Same-store sales grew by 3%, marking the third consecutive quarter of growth [1] Expansion Plans - The company opened 1,706 new stores in 2025, expanding its network to 18,101 locations across over 2,500 towns in China [1] - For 2026, the company aims to exceed 20,000 total stores, with a net addition of over 1,900 stores [1] - The proportion of franchise stores among new openings for KFC and Pizza Hut reached 40%-50% [1] Capital Expenditure and Shareholder Returns - Capital expenditure is projected to be between $600 million and $700 million [1] - The company plans to return $1.5 billion to shareholders [1]
百胜中国早盘涨超7% 去年四季度同店销售额增长3%