SHANGHAI ,
July 12,
2023 /PRNewswire/ -- Yum China Holdings, Inc. (NYSE:
YUMC and HKEX: 9987, "Yum China" or
the "Company") announced that KFC China has celebrated the opening
of its 500th store in Shanghai. KFC opened its first store in
Shanghai at the Dongfeng Hotel on
the Bund in 1989. 34 years later, Shanghai becomes the first city in
China to reach 500 KFC stores.
"We are thrilled to reach this remarkable milestone in
Shanghai, which is not only
China's largest consumer market, but also home to Yum China's operating headquarters," said
Joey Wat, CEO of Yum China. "Since entering China in 1987, we
have been committed to meeting the evolving needs of consumers with
great food and delightful dining experience. It has been our
privilege to serve millions of customers and thousands of
communities every day. Looking ahead, we firmly believe there are
immense opportunities for us to continue expanding and growing in
China."
KFC is committed to promoting positive social change and the
500th KFC store in Shanghai has some unique features that support
this:
- Partnering with the Shanghai Library, the new store features a
dedicated reading area which has a diverse collection of books. The
store will also hold a series of parent-child reading events. This
initiative is part of the "KFC Book Kingdom Program" which is
focused on promoting reading among children.
- In collaboration with the Pudong New Area Disabled Persons'
Federation, the store is KFC's first "Angel Restaurant" in
Shanghai. The "Angel Restaurants"
initiative aims to create an inclusive and welcoming work
environment for individuals with special needs. The store
incorporates various enhancements to support employees, such as
light and sound reminders. Moreover, the in-store menu at this
location offers braille and sign language options, ensuring more
accessible and enjoyable dining experience for customers with
special needs.
KFC is the leading and the largest quick-service restaurant
brand in China, with over 9,200
stores in 1,800 cities across China as of March 2023. Over the years, menu innovation
has been a strategic focus for KFC China. By combining Chinese and
Western elements in its menu and offerings, KFC is establishing
deeper connections with Chinese consumers. This summer, KFC
launched a nostalgia marketing campaign with 9 classic fan-favorite
menu items, including Original Recipe® Chicken, Dragon Twister,
Portuguese egg tart, New Orleans Roasted Chicken Wing, Century Egg
& Pork Congee, Great Value Family Bucket, among others.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, including under
"2023 Outlook." We intend all forward-looking statements to be
covered by the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements generally
can be identified by the fact that they do not relate strictly to
historical or current facts and by the use of forward-looking words
such as "expect," "expectation," "believe," "anticipate," "may,"
"could," "intend," "belief," "plan," "estimate," "target,"
"predict," "project," "likely," "will," "continue," "should,"
"forecast," "outlook," "commit" or similar terminology. These
statements are based on current estimates and assumptions made by
us in light of our experience and perception of historical trends,
current conditions and expected future developments, as well as
other factors that we believe are appropriate and reasonable under
the circumstances, but there can be no assurance that such
estimates and assumptions will prove to be correct. Forward-looking
statements include, without limitation, statements regarding the
future strategies, growth, business plans, investment, dividend and
share repurchase plans, earnings, performance and returns of
Yum China, anticipated effects of
population and macroeconomic trends, the expected impact of the
COVID-19 pandemic, pace of recovery of Yum
China's business, the anticipated effects of our innovation,
digital and delivery capabilities and investments on growth and
beliefs regarding the long-term drivers of Yum China's business. Forward-looking statements
are not guarantees of performance and are inherently subject to
known and unknown risks and uncertainties that are difficult to
predict and could cause our actual results or events to differ
materially from those indicated by those statements. We cannot
assure you that any of our expectations, estimates or assumptions
will be achieved. The forward-looking statements included in this
press release are only made as of the date of this press release,
and we disclaim any obligation to publicly update any
forward-looking statement to reflect subsequent events or
circumstances, except as required by law. Numerous factors could
cause our actual results or events to differ materially from those
expressed or implied by forward-looking statements, including,
without limitation: whether we are able to achieve development
goals at the times and in the amounts currently anticipated, if at
all, the success of our marketing campaigns and product innovation,
our ability to maintain food safety and quality control systems,
changes in public health conditions, including the COVID-19
pandemic, our ability to control costs and expenses, including tax
costs, as well as changes in political, economic and regulatory
conditions in China. In addition,
other risks and uncertainties not presently known to us or that we
currently believe to be immaterial could affect the accuracy of any
such forward-looking statements. All forward-looking statements
should be evaluated with the understanding of their inherent
uncertainty. You should consult our filings with the Securities and
Exchange Commission (including the information set forth under the
captions "Risk Factors" and "Management's Discussion and Analysis
of Financial Condition and Results of Operations" in our Annual
Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q)
for additional detail about factors that could affect our financial
and other results.
About Yum China Holdings, Inc.
Yum China is the largest
restaurant company in China with a
mission to make every life taste beautiful. The Company has over
400,000 employees and operates over 13,000 restaurants under six
brands across 1,800 cities in China. KFC and Pizza Hut are the leading
brands in the quick-service and casual dining restaurant spaces in
China, respectively. Taco Bell
offers innovative Mexican-inspired food. Yum China has also partnered with Lavazza to
develop the Lavazza coffee concept in China. Little Sheep and Huang Ji Huang specialize in Chinese cuisine.
Yum China has a world-class,
digitalized supply chain which includes an extensive network of
logistics centers nationwide and an in-house supply chain
management system. Its strong digital capabilities and loyalty
program enable the Company to reach customers faster and serve them
better. Yum China is a Fortune 500
company with the vision to be the world's most innovative pioneer
in the restaurant industry. For more information, please visit
http://ir.yumchina.com.
Investor Relations Contact:
Tel: +86 21 2407 7556 /
+852 2267 5801
IR@YumChina.com
Media Contact:
Tel: +86 21 2407 7510
Media@YumChina.com
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SOURCE Yum China Holdings, Inc.
