春节消费旺季大幕拉开，各地促消费政策密集出台，为全年消费市场“开门红”注入强劲动力

Group 1 - Yum China reported a strong financial performance for the year 2025, with operating profit reaching $1.3 billion, reflecting an 11% year-on-year growth [1] - The company opened 1,706 new stores in 2025, expanding its network to 18,101 locations across over 2,500 towns in China [1] - In Q4 2025, Yum China's operating profit saw a significant increase of 25% year-on-year, with same-store sales growing for the third consecutive quarter [1] Group 2 - The Chinese government, along with nine other organizations, launched the "2026 Spring Festival Special Activities Plan," promoting various food-related events to enhance consumer engagement during the festive season [1] - The plan includes initiatives such as the "Chinese Cuisine Fair" and "Time-honored Brand Carnival," aimed at boosting local food offerings and attracting more consumers [1] - Huachuang Securities noted that the upcoming Spring Festival consumption season is expected to see strong recovery, supported by government-led consumption policies and diverse promotional activities [2]