YUMC | Market Cap: $15.4B (07/13/26)
Industry:
Consumer Services

DESCRIPTION

Yum China is the largest restaurant company in China, operating KFC and Pizza Hut under exclusive long-term licenses from Yum! Brands. As of end-2025, Yum China ran over 18,100 restaurants across more than 2,500 cities in mainland China. KFC is the dominant brand with nearly 13,000 locations, offering a menu adapted well beyond its American roots to include rice dishes, congee, seafood, coffee, and tea. Pizza Hut operates over 4,100 locations as the leading casual dining brand in China, and recently repositioned toward mass-market price points with a new lower-CapEx format (Pizza Hut WOW) targeting lower-tier cities. Yum China owns and operates roughly 83% of its restaurants and sells directly to consumers through dine-in, takeaway, and delivery, with delivery accounting for roughly 48% of sales and digital ordering at roughly 94%. Beyond the two core brands, Yum China runs several smaller concepts including KCOFFEE Cafes and KPRO modules co-located within KFC stores, a Lavazza joint venture, and franchise-heavy brands Huang Ji Huang and Little Sheep. Yum China pays Yum! Brands a license fee of 3% of net system sales. The company is aggressively expanding its store count, targeting 30,000 total locations by 2030, with an increasing share of new openings via franchisees to reach lower-tier cities. Yum China's loyalty program exceeded 590 million members in 2025, with member sales accounting for roughly 61% of KFC and Pizza Hut system sales.

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