SHANGHAI, Sept. 26, 2019 /PRNewswire/ -- Yum China
Holdings, Inc. (the "Company" or "Yum
China") (NYSE:YUMC) signed a strategic cooperation framework
agreement with the Shaanxi
provincial government in Xi'an on
September 25, 2019. This agreement
consolidates the joint commitment of both parties to leverage their
respective advantages to comprehensively deepen their cooperation.
Liu Guozhong, Governor of Shaanxi province, met with Fred
Hu, Chairman of Yum
China, and Joey Wat, CEO of Yum
China, as well as a delegation from Yum China's Board of Directors and leadership
team. Jia Feng, Deputy
Secretary-General of Shaanxi
provincial government, and Joey Wat
signed the strategic cooperation framework agreement on behalf of
both parties.
Yum China has been active in
Shaanxi since opening its first
KFC store in Xi'an in 1993,
followed by the establishment of its Xi'an Customer Service Center
in 2005. This cooperation will help Yum
China further benefit from the location and resource
strengths of Shaanxi as it seeks
to expand its presence in the province and enhance the role of
Xi'an as its regional headquarters
for Northwest China. It will also
combine the huge consumer base of Yum
China with the unique assets of Shaanxi to support the economic development of
the province.
As part of the agreement, Yum
China will bolster its fast-growing digital business by
upgrading its Xi'an Customer Service Center to a Digital Service
Center that will contribute to building Shaanxi's digital economy. In addition,
Yum China will open more stores at
prominent locations across Shaanxi, including new builds at historic and
cultural sites, and introduce new and innovative business models,
store concepts and services to the province. Yum China plans to leverage its expertise in
supply chain management and cold-chain logistics to support the
development of local businesses in Shaanxi and promote the sustainable growth of
the local economy.
Yum China also plans to introduce
its signature Corporate Social Responsibility ("CSR") and
sustainability programs to Shaanxi. These include the One Yuan Donation program, that provides
energy-efficient kitchen equipment to elementary schools in rural
areas, and the "Grow Local Initiative", that supports targeted
poverty alleviation and the cultivation and commercialization of
local agricultural products.
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," "project,"
"likely," "will," "continue," "should," "forecast," "outlook" 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 business plans, performance
and returns of Yum China,
anticipated effects of population and macroeconomic trends, the
anticipated effects of our digital capabilities on growth and
beliefs regarding the long-term drivers of Yum China's business. Forward-looking statements
are not guarantees of performance or events 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,
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) 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, a California-based restaurant chain serving
innovative Mexican-inspired food. Yum
China also owns the Little Sheep, East Dawning and COFFii
& JOY concepts outright. The Company had more than 8,700
restaurants in over 1,300 cities at the end of June 2019. In 2019, Yum
China was named to the Bloomberg Gender-Equality Index and
was certified as a Top Employer 2019 in China by the Top Employers Institute. For more
information, please visit http://ir.yumchina.com.
Investor Relations Contact:
Tel: +86 21 2407 7556
IR@YumChina.com
Media Contact:
Tel: +86 21 2407 7510
Media@YumChina.com
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SOURCE Yum China Holdings, Inc.