SHANGHAI, May 31, 2017 /PRNewswire/ -- Yum China Holdings,
Inc. (the "Company" or "Yum China")
(NYSE: YUMC) was recently recognized as the top restaurant operator
on the 100 Leading China Restaurant Businesses List published by
the China Cuisine Association. The list was announced at the 2017
China Restaurant and Catering Industry Development Conference in
Beijing where the Company was also
presented with the China Restaurant 30 Years Excellence Enterprise
Award, acknowledging Yum China's
longstanding contribution to the restaurant industry.
Yum China's KFC restaurant at
Qianmen, Beijing, its first in the
country, was ranked as one of the Top 500 Restaurants in
China with the overall KFC brand
recognized in the Top 10 Fast Food Brand category. The Company's
Pizza Hut and Little Sheep restaurants were also recognized in the
Top 10 International Food Brand and Famous Hotpot Brand categories,
respectively.
Further to the recognition by the China Cuisine Association,
Yum China was also listed as the top
restaurant company in the recent China
Top 100 Retail Chain Rankings compiled by the China Chain
Store and Franchise Association (CCFA). Yum
China was ranked as the 9th retail chain overall
in the list cementing its positon as the largest restaurant company
in China.
Micky Pant, Yum China's CEO,
said, "We are humbled to be recognized as the leading restaurant
business in China. Yum China has been an integral part of the
continuous evolution of the restaurant industry over the past
thirty years. We have had the honor of introducing our products to
an entire generation of Chinese consumers, and have learnt so much from the great Chinese
culinary tradition in the process. We now have over 2 billion
customer visits a year in our restaurants in China with customers enjoying food items not
only from around the world, but also many favorite products
developed only in China."
"Looking forward, we believe there are two significant trends
that will shape the future of the industry in China. The first is Digital technology which is changing the way
that customers decide where and what to eat, how to order and pay,
and even how to give comments and feedback. The second is the
burgeoning demand for Delivery,
which we believe is increasing the total addressable market for all
restaurant businesses. I expect that Digital and Delivery will be significant industry growth
drivers over the next decade," Micky Pant added.
Yum China operates more than
7,600 restaurants across the country, with over 4,400 offering
delivery services as of the end of the first fiscal quarter of
2017. In the quarter, delivery represented approximately 12% of
company sales.
The company is also a pioneer in digital engagement in the
restaurant industry. Yum China's
digital ecosystem incorporates pre-order capabilities, on-demand
delivery, digital loyalty programs for multiple brands, and access
to promotions among other functions. As of the end of the first
fiscal quarter of 2017, loyalty program members increased to
approximately 70 million for KFC and 23 million for Pizza Hut
Casual Dining.
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. 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," "likely,"
"will," "should," "forecast," "outlook", "look forward" 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 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 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. 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
"Forward-Looking Statements" in our Annual Report on Form 10-K) for
additional detail about factors that could affect our financial and
other results.
About Yum China Holdings, Inc.
Yum China Holdings, Inc. is a licensee of Yum!
Brands in mainland China. It has exclusive rights in mainland
China to KFC, China's leading quick-service restaurant
brand, Pizza Hut, the leading casual dining restaurant brand
in China, and Taco Bell,
which opened its first restaurant in China at the end of 2016. Yum
China also owns the Little Sheep and East Dawning concepts
outright. Yum China is well positioned for growth thanks
to its strong competitive position, integration of its brands into
Chinese popular culture and consumers' daily lives, expanding
geographic footprint in China and
existing operational expertise. It has a strong capital position,
no external debt and expects to continue growing its system sales
and profit by adding new restaurants and through growing same-store
sales. Yum China had more than 7,600 restaurants and more
than 420,000 employees in over 1,100 cities at the end
of February 2017. A new generation of younger consumers who
are digitally sophisticated and brand driven are fueling growth in
consumption in China. The ongoing
growth of the middle class and urban population in China is expected to create the world's
largest market for restaurant brands, with Yum
China poised to be the market leader.
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SOURCE Yum China Holdings, Inc