Yum China Ranked Top Restaurant Business in China by China Cuisine Association and CCFA

2017-05-31 14:00 1344

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
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