百胜中国：The best-in-class costs management in 2Q24

7 Aug 2024 CMB International Global Markets | Equity Research | Company Update Yum China (9987 HK) The best-in-class costs management in 2Q24 Sales growth was indeed a miss in 2Q24, but the net profit was a significant beat. For 2H24E, we are still very cautious about the demand and so as the level of competition. However, thanks to various efforts like Project Fresh Eye, Project Red Eye, rationalizing number of SKUs, more direct sourcing, and ramp up of more profitable store formats (e.g. K-coffee and Pizz ...