YUMC News & Events

Yum China Holdings announced that KFC's light-meal concept, KPRO, has surpassed 300 locations in China and is on track to reach 600 locations by year-end, up from just over 200 in 2025. In April, Yum China raised its 2026 expansion target for KPRO from 400 locations to 600, focusing on tier-1, tier-2 and select tier-3 cities, particularly in eastern and southern China where the demand for light meals is stronger.

Yum China announced that it has entered into share repurchase agreements in the U.S. and Hong Kong for an aggregate repurchase amount of approximately $512M for the second half of 2026, commencing on July 1. The share repurchase agreements include approximately $384M under the Rule 10b5-1 of the United States Securities Exchange Act of 1934 in the U.S. and approximately HK$1B for a similar program in Hong Kong. These agreements are in addition to the share repurchase agreements for the first half of 2026.

Sees FY26 total stores over 20,000. Sees FY26 net new stores over 1,900. Wat concluded, "Looking ahead, we will fuel further growth through front-end segmentation and back-end consolidation. With our strong foundation, dual focus on innovation and operational efficiency, and a more rational delivery platform competition, we are confident in delivering our full-year targets and creating sustainable long-term value for our shareholders."

Reports Q1 revenue $3.3B, consensus $3.23B. Same-store sales reached 100% of the prior year's level. Same-store transactions grew 2% year-over-year. Joey Wat, CEO of Yum China, commented, "We delivered solid results in a dynamic environment, and remain encouraged by early signs of improving consumer sentiment. The late timing of Chinese New Year and the extra April spring break affected gathering patterns and same-store sales growth in Q1. However, combined March and April trading has so far been in line with our expectations. In Q1, we accelerated store openings to a record level to capture significant market opportunities. At the same time, we drove system sales growth, operating profit growth and OP margin expansion for the eighth consecutive quarter, thanks to our teams' dedication."