Yum China Holdings, Inc. (YUMC): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el fascinante mundo de Yum China Holdings, Inc. (YUMC), una potencia culinaria que ha revolucionado la comida de comida rápida en la nación más poblada de la Tierra. Con un asombroso 9,000+ Restaurantes y un enfoque estratégico que combina el reconocimiento global de la marca con ideas hiperlocales del mercado, YUMC ha transformado cómo millones de consumidores chinos experimentan cenas rápidas, deliciosas y asequibles. Desde KFC hasta Pizza Hut, su modelo de negocio es una clase magistral en adaptabilidad, innovación digital y estrategia centrada en el consumidor que va mucho más allá de los paradigmas tradicionales de comida rápida.

Yum China Holdings, Inc. (YUMC) - Modelo de negocios: asociaciones clave

Asociación estratégica con marcas globales

Yum China tiene derechos exclusivos para operar restaurantes KFC, Pizza Hut y Taco Bell en China, con un total de 9.406 restaurantes al 31 de diciembre de 2022. La asociación estratégica implica:

• KFC: 7,166 restaurantes
• Pizza Hut: 1,668 restaurantes
• Taco Bell: 572 restaurantes

Colaboraciones locales de proveedores de alimentos chinos

Yum China mantiene asociaciones estratégicas con productores agrícolas locales y proveedores de alimentos en China.

Categoría de proveedor	Número de asociaciones	Valor de adquisición anual
Proveedores de carne locales	45	$ 782 millones
Productores de vegetales	38	$ 456 millones
Proveedores de lácteos	22	$ 213 millones

Asociaciones tecnológicas

Yum China ha establecido colaboraciones de pagos digitales con plataformas líderes:

• Alipay: Más de 500 millones de usuarios activos conectados
• Paga de WeChat: Integración en 9.406 restaurantes
• Transacciones totales de pago digital en 2022: $ 4.2 mil millones

Acuerdos de franquicia

La red de franquicias en toda China incluye:

Región	Número de restaurantes franquiciados	Ingresos por franquicia
China oriental	412	$ 187 millones
Sur de China	356	$ 163 millones
China occidental	289	$ 132 millones

Yum China Holdings, Inc. (YUMC) - Modelo de negocio: actividades clave

Operaciones y gestión de restaurantes

A partir de 2023, Yum China opera 12.360 restaurantes en múltiples marcas, incluidas KFC, Pizza Hut y Taco Bell. La compañía administra 9,566 restaurantes KFC y 2,304 ubicaciones de Pizza Hut en China.

Marca	Número de restaurantes	Penetración del mercado
KFC	9,566	62% de la cartera de restaurantes totales
Choza de pizza	2,304	15% de la cartera de restaurantes totales
Taco Bell	290	2% de la cartera de restaurantes totales

Localización e innovación del menú

Yum China invierte aproximadamente $ 30 millones anuales en investigación y desarrollo para la innovación del menú. La compañía presenta 50-70 nuevos elementos de menú cada año adaptados a las preferencias chinas del consumidor.

• Tasa de abastecimiento de ingredientes locales: 95%
• Innovaciones anuales de elementos del menú: 50-70
• Variaciones de menú regional: 12-15 adaptaciones de menú regional diferentes

Plataforma de marketing digital y comercio electrónico

Las ventas digitales representan el 29% de los ingresos totales, con plataformas de pedidos móviles que generan $ 2.3 mil millones en ingresos anuales. La compañía tiene 410 millones de miembros en su programa de lealtad digital.

Gestión de la cadena de suministro

Yum China administra 29 centros de distribución centralizados en China. Inversión anual de la cadena de suministro: $ 125 millones para control de calidad e infraestructura de logística.

Métrica de la cadena de suministro	Valor
Centros de distribución	29
Inversión anual de la cadena de suministro	$ 125 millones
Tasa de cumplimiento del proveedor	97%

Expansión del restaurante

En 2023, Yum China abrió 620 nuevos restaurantes, con una expansión planificada de 800-900 nuevas ubicaciones en 2024. Se espera que la red total de restaurantes alcance 13.200 a fines de 2024.

• Nuevas aperturas de restaurantes en 2023: 620
• Proyectado 2024 nuevas aperturas de restaurantes: 800-900
• Restaurantes totales proyectados para 2024: 13,200

Yum China Holdings, Inc. (YUMC) - Modelo de negocio: recursos clave

Red de restaurantes

Total de restaurantes: 9.455 restaurantes en China al 31 de diciembre de 2022

Marca	Número de restaurantes
KFC	6,016
Choza de pizza	2,298
Taco Bell	207

Infraestructura digital

Capacidades digitales:

• Más de 410 millones de miembros en el programa de lealtad digital
• Tasa de penetración de pedidos móviles del 83% en 2022
• Las ventas digitales representaron el 29% de las ventas totales del sistema en 2022

Gestión de la cadena de suministro

Detalles de la cadena de suministro:

• 5 centros de adquisición centralizados
• 12 centros de procesamiento de alimentos
• Múltiples proveedores locales e internacionales

Recursos financieros

Métrica financiera	Valor 2022
Ingresos totales	$ 9.3 mil millones
Lngresos netos	$ 542 millones
Equivalentes de efectivo y efectivo	$ 1.4 mil millones

Recursos humanos

Tamaño de la fuerza laboral: Aproximadamente 450,000 empleados a partir de 2022

Yum China Holdings, Inc. (YUMC) - Modelo de negocio: propuestas de valor

Opciones gastronómicas asequibles y convenientes

Yum China opera 9,406 restaurantes en China a partir del tercer trimestre de 2023. Los precios promedio de las comidas varían entre CNY 20-50 ($ 3- $ 7 USD). KFC y Pizza Hut ofrecen combos de comidas de valor a un precio competitivo.

Marca de restaurantes	Costo promedio de comida	Tráfico diario de clientes
KFC	CNY 35 ($ 5 USD)	1.2 millones de clientes
Choza de pizza	CNY 45 ($ 6.50 USD)	350,000 clientes

Calidad constante y preparación estandarizada de alimentos

Yum China mantiene los estrictos estándares de seguridad alimentaria con 99.5% Cumplimiento en todos los restaurantes. La inversión en centros de procesamiento de alimentos centralizados garantiza una calidad uniforme.

Ofertas de menú localizadas adaptadas a los gustos chinos

La estrategia de localización del menú incluye:

• Elementos de menú específicos de chino únicos en KFC: Tarts de huevo, Congee
• Variaciones de sabor regional en 23 provincias
• Más de 50 elementos de menú localizados desarrollados anualmente

Servicios rápidos de pedidos digitales y entrega

Métricas de rendimiento de la plataforma digital:

Canal digital	Usuarios activos mensuales	Tasa de finalización de pedido
Mini programa WeChat	85 millones de usuarios	97.3%
Plataformas de entrega	45 millones de usuarios	94.6%

Experiencias de restaurantes para la familia

Métricas de segmento de comidas familiares:

• Los combos de comidas familiares constituyen el 35% de las ventas totales
• Opciones de comida para niños en el 95% de los restaurantes
• Gasto familiar promedio: CNY 120 ($ 17 USD) por visita

Yum China Holdings, Inc. (YUMC) - Modelo de negocios: relaciones con los clientes

Programas de lealtad basados ​​en aplicaciones móviles

Las aplicaciones móviles KFC, Pizza Hut y Taco Bell de Yum China tienen 512.4 millones de miembros a partir del tercer trimestre de 2023. La plataforma de membresía digital de la compañía genera el 92% de las ventas totales a través de canales digitales.

Aplicación móvil	Totales miembros	Porcentaje de ventas digitales
Aplicación KFC	320.6 millones	55%
Aplicación de pizza hut	126.8 millones	25%
Taco Bell App	65 millones	12%

Campañas de marketing digital personalizados

Yum China invirtió $ 52.3 millones en tecnologías de marketing digital en 2023, dirigido a estrategias personalizadas de participación del cliente.

Compromiso interactivo en las redes sociales

La compañía mantiene la presencia activa de las redes sociales en todas las plataformas:

• Seguidores de Weibo: 8.6 millones
• Cuentas oficiales de WeChat: 15 canales de marca distintos
• Compromiso promedio de las redes sociales mensuales: 3.2 millones de interacciones

Comentarios de los clientes y sistemas de mejora continua

Yum China procesa aproximadamente 1.2 millones de entradas de comentarios de clientes mensualmente a través de plataformas digitales, con una tasa de respuesta del 97.5%.

Estándares de servicio al cliente consistentes

Métricas estandarizadas de servicio al cliente en todas las marcas de restaurantes:

Métrico de servicio	Objetivo de rendimiento	Rendimiento real 2023
Tiempo de respuesta promedio	15 minutos	12.7 minutos
Tasa de satisfacción del cliente	90%	92.3%
Resolución de queja	24 horas	18.5 horas

Yum China Holdings, Inc. (YUMC) - Modelo de negocios: canales

Aplicación móvil para pedidos y entrega

Yum China opera aplicaciones móviles para marcas de KFC, Pizza Hut y Little Sheep con las siguientes métricas:

Plataforma	Usuarios activos mensuales	Porcentaje de pedido digital
Aplicación móvil KFC	95.4 millones	68% de los pedidos totales
Pizza Hut Mobile App	45.2 millones	52% de los pedidos totales

Experiencias gastronómicas en la tienda

Estadísticas de canales de restaurantes físicos:

• Recuento total de restaurantes: 9.406 a diciembre de 2022
• Desglose por marca:
  • KFC: 6.407 ubicaciones
  • Pizza Hut: 2,272 ubicaciones
  • Oveja pequeña: 452 ubicaciones

Plataformas de entrega de alimentos de terceros

Detalles de la asociación de la plataforma de entrega:

Plataforma de entrega	Cuota de mercado	Tasa de comisión promedio
Meituan	62.3%	15-20%
Ele.me	35.7%	13-18%

Ubicaciones de restaurantes físicos

Distribución geográfica de restaurantes:

• Provincias cubiertas: 32 de 34 en China
• Ciudades de nivel 1 y 2: 65% de las ubicaciones totales
• Tamaño promedio del restaurante: 250-300 metros cuadrados

Plataformas de marketing en redes sociales

Rendimiento del canal de marketing digital:

Plataforma	Seguidores	Tasa de compromiso
Cuentas oficiales de WeChat	48.6 millones	4.2%
Weibo	22.3 millones	3.7%

Yum China Holdings, Inc. (YUMC) - Modelo de negocios: segmentos de clientes

Consumidores de clase media urbana

A partir de 2024, Yum China atiende a aproximadamente 135 millones de clientes mensualmente en sus redes de restaurantes. El segmento de clase media urbana representa el 52.3% de su base total de clientes.

Características demográficas	Porcentaje
Rango de edad	25-45 años
Ingresos mensuales promedio	¥8,500 - ¥15,000
Cobertura de población urbana	68.4%

Jóvenes profesionales y estudiantes

Este segmento constituye el 28.7% de la base de clientes de Yum China, con presencia concentrada en ciudades de nivel 1 y nivel 2.

• Frecuencia de pedido digital: 4.2 veces al mes
• Gasto promedio por transacción: ¥ 45-65
• Preferencias principales del restaurante: KFC y Pizza Hut

Familias que buscan opciones gastronómicas convenientes

Las familias representan el 24.5% de los segmentos de clientes de Yum China, con preferencias gastronómicas específicas.

Métricas de segmento familiar	Puntos de datos
Tamaño promedio de la familia	3.2 personas
Frecuencia gastronómica de fin de semana	2.1 veces al mes
Gasto de comida	¥ 180-250 por visita

Consumidores expertos en digital

La participación digital sigue siendo crítica para la estrategia de adquisición de clientes de Yum China.

• Usuarios de aplicaciones móviles: 95.6 millones activos mensualmente
• Porcentaje de pedidos en línea: 42.3%
• Adopción de pagos digitales: 87.5%

Entusiastas de los alimentos conscientes del presupuesto

Los consumidores basados ​​en el valor comprenden el 18.9% del segmento de mercado de Yum China.

Características del segmento presupuestario	Métrica
Preferencia promedio de costos de comida	¥30-50
Tasa de respuesta promocional	67.4%
Participación del programa de fidelización	58.7%

Yum China Holdings, Inc. (YUMC) - Modelo de negocio: Estructura de costos

Adquisición de ingredientes alimentarios

Costos anuales de adquisición de ingredientes alimentarios para Yum China en 2022: $ 2.1 mil millones

Categoría de ingredientes	Costo anual ($)
Ingredientes proteicos	752 millones
Productos frescos	456 millones
Materiales de embalaje	312 millones

Salarios del personal del restaurante

Gastos laborales totales en 2022: $ 1.65 mil millones

• Salario promedio por hora: $ 12.50
• Total de empleados: 420,000
• Gastos anuales relacionados con el salario: $ 1.65 mil millones

Gastos de bienes raíces y alquiler

Costos inmobiliarios totales en 2022: $ 780 millones

Tipo de gasto	Costo anual ($)
Alquiler de restaurantes	520 millones
Arrendamiento de la oficina	160 millones
Mantenimiento	100 millones

Inversiones de marketing y plataforma digital

Gastos de marketing total en 2022: $ 420 millones

• Presupuesto de marketing digital: $ 180 millones
• Publicidad tradicional: $ 140 millones
• Desarrollo de plataforma digital: $ 100 millones

Gestión de la cadena de suministro y logística

Costos operativos anuales de la cadena de suministro: $ 650 millones

Componente de logística	Costo anual ($)
Transporte	320 millones
Almacenamiento	210 millones
Infraestructura tecnológica	120 millones

Yum China Holdings, Inc. (YUMC) - Modelo de negocios: flujos de ingresos

Ventas de restaurantes de restaurantes

En 2022, Yum China reportó ventas totales del sistema de $ 9.4 mil millones. Desglose de ventas de restaurantes:

Marca	Ventas anuales (2022)
KFC	$ 6.8 mil millones
Choza de pizza	$ 2.1 mil millones
Taco Bell	$ 500 millones

Ingresos de orden digital y de entrega

Ventas digitales representadas 83% de ventas totales del sistema en 2022, ascendiendo a $ 7.8 mil millones. Los canales de entrega contribuyeron con aproximadamente $ 3.5 mil millones a los ingresos totales.

Tarifas de licencia de franquicia

Los ingresos por franquicias en 2022 totalizaron $ 237 millones, representando 4.2% de ingresos totales de la empresa.

Servicios de catering y comidas corporativas

El segmento corporativo y de catering generó aproximadamente $ 450 millones en 2022, con un enfoque clave en:

• Programas de almuerzo corporativo
• Catering de eventos a gran escala
• Soluciones de comidas en el lugar de trabajo

Venta de productos y productos de marca y marca

Los ingresos por mercancías de marca alcanzaron $ 85 millones en 2022, que incluyen:

Categoría de productos	Venta anual
Mercancía de marca	$ 45 millones
Productos alimenticios empaquetados	$ 40 millones

Yum China Holdings, Inc. (YUMC) - Canvas Business Model: Value Propositions

Convenience via massive delivery scale is a core value proposition, with delivery sales for KFC growing 33% year-over-year in Q3 2025, contributing approximately 51% of KFC's Company sales for that period.

Yum China Holdings, Inc. delivers a diverse multi-brand portfolio that caters to various dining occasions. As of September 30, 2025, the total store count reached 17,514 locations. This scale is built primarily on two major brands, supported by other concepts.

Brand	Store Count (As of Q3 2025)
KFC	12,640
Pizza Hut	4,022
Total System Stores	17,514

Speed and efficiency are driven by deep digital integration. Digital sales reached $2.8 billion in Q3 2025, with digital ordering accounting for approximately 95% of total Company sales.

Value-for-money offerings are directly translating into customer traffic, especially at Pizza Hut. This strategy drove Pizza Hut same-store transactions up 17% year-over-year in Q3 2025, marking the eleventh consecutive quarter of growth for same-store transactions across the aggregate KFC and Pizza Hut system.

Here's the quick math on the key performance indicators supporting these propositions for Q3 2025:

• KFC Delivery Contribution to Company Sales: 51%
• Pizza Hut Same-Store Transaction Growth YoY: 17%
• Digital Ordering Penetration of Total Company Sales: 95%
• Total System Store Count: 17,514
• Pizza Hut Total Store Count: 4,022

The focus on value at Pizza Hut resulted in the ticket average being 13% lower year-over-year, consistent with the strategy to make food more accessible.

Yum China Holdings, Inc. (YUMC) - Canvas Business Model: Customer Relationships

You're looking at how Yum China Holdings, Inc. keeps its massive customer base engaged and coming back for more. It's all about digital integration and making every interaction count. Honestly, the scale here is what sets them apart.

Large-scale, personalized loyalty programs for 560 million members.

Yum China Holdings, Inc. runs a loyalty program that's truly enormous. As of the second quarter of 2025, the total membership across KFC and Pizza Hut hit 560 million members. That's a 13 per cent jump from the year before. This isn't just a sign-up sheet; these members are the core revenue engine. In Q2 2025, member sales accounted for roughly 64 per cent of the aggregate system sales for both KFC and Pizza Hut. This massive base allows for deep personalization, which is key to maintaining that engagement level.

Here's a quick look at the scale of their digital and membership footprint as of the latest reported figures in 2025:

Metric	Value (as of late 2025)	Date/Context
Total Loyalty Membership	560 million	Q2 2025
Member Sales Contribution	64%	Q2 2025 System Sales
Digital Sales as % of Total Sales	95%	Q3 2025
Total Stores	Over 17,500	Q3 2025

AI-powered in-store management to improve service quality.

Service quality improvement starts behind the counter, and Yum China Holdings, Inc. is using artificial intelligence to help managers there. They launched the pilot for Q-Smart, a new hands-free AI-enabled assistant, at select KFC stores in June 2025. This tool helps frontline managers with critical tasks like labor scheduling, inventory management, and food quality inspection. It can even respond to voice commands for hands-free equipment checks. This builds on earlier tech, like the AI-powered "Super Brain" tool rolled out in 2021, showing a sustained commitment to tech-driven efficiency. To foster more internal innovation, the company also announced a 100 million yuan (US$13.9 million) Frontline Innovation Fund in March 2025.

Digital engagement via proprietary mobile apps and Super-Apps.

The digital channel is practically the main channel now. In the third quarter of 2025, digital orders made up 95 per cent of total sales, up from 94 per cent in Q2 2025, which reached $2.4 billion in revenue for that quarter. This high adoption rate is supported by their proprietary platforms; KFC China launched its Super App way back in early 2016. The company's strong digital capabilities, including its in-house Yum China Cloud platform, help ensure a seamless online experience for customers across all touchpoints.

Targeted promotions based on member data and purchase history.

The data from that huge membership base fuels targeted marketing. You see the results in specific product performance. For instance, in Q3 2025, daily KCOFFEE cups sold per store jumped 30 per cent year-over-year, directly attributed to strong menu innovations and platform promotions. Also, Pizza Hut showed strong traction, delivering 17 per cent same-store transaction growth for three consecutive quarters leading up to Q3 2025. These results suggest that promotions, likely tailored using member purchase history, are effectively driving volume and repeat visits. It's about using data to spark cravings, as the CEO mentioned.

Yum China Holdings, Inc. (YUMC) - Canvas Business Model: Channels

You're looking at how Yum China Holdings, Inc. gets its food and service to the customer, and frankly, it's a multi-front operation that leans heavily on digital infrastructure as of late 2025. The physical footprint remains massive, but the digital layer is where a huge chunk of the revenue is generated.

The core channel is the sheer scale of their brick-and-mortar presence. As of the third quarter ending September 30, 2025, Yum China Holdings, Inc. operated a total store count of 17,514 units across China. This network is the foundation for all other channels.

The delivery service is a high-volume powerhouse, definitely not an afterthought. For the third quarter of 2025, delivery sales grew 32% year-over-year and contributed approximately 51% of the total Company sales. This high mix of delivery is a critical part of the current revenue stream.

Digital ordering, which encompasses proprietary mobile apps and mini-programs, is deeply integrated. In Q3 2025, digital sales hit $2.8 billion, representing about 95% of total Company sales. The loyalty programs supporting these digital channels are also substantial.

Here's a quick look at the scale of the digital ecosystem as of the third quarter of 2025:

• Digital sales reached $2.8 billion.
• Digital ordering accounted for approximately 95% of total sales.
• Total KFC and Pizza Hut membership exceeded 575 million.
• Member sales represented about 57% of system sales in aggregate.

Beyond the core KFC and Pizza Hut, Yum China Holdings, Inc. is using specialized store formats to capture different market segments, most notably with KCOFFEE. The company is aggressively expanding this format, aiming to operate 1,700 KCOFFEE cafes across the country by the end of 2025. Reports from the end of September 2025 suggest the count was already around 1,800 locations. This strategy leverages the existing KFC store space and membership base for incremental traffic and sales.

To map out how these channels break down across the main brands as of September 30, 2025, consider this snapshot:

Channel Metric	KFC Data (Q3 2025)	Pizza Hut Data (Q3 2025)
Total Stores	12,640	4,022
Delivery Sales Contribution	Approximately 51% of Company sales	Approximately 48% of Company sales
Net New Stores (Q3 2025)	402	158

The KCOFFEE specialized format is a channel in itself, often operating side-by-side with KFC. For context on its growth, by the end of 2024, Yum China Holdings, Inc. had 700 KCOFFEE cafés. This shows a rapid scaling effort to meet the late-2025 goal.

Yum China Holdings, Inc. (YUMC) - Canvas Business Model: Customer Segments

You're looking at the core customer base for Yum China Holdings, Inc. as of late 2025. The company targets a massive footprint across China's mass market, spanning all city tiers. They've built this reach over decades, but the pace is definitely accelerating now. By the end of Q3 2025, Yum China operated a total of 17,514 stores. KFC, the largest brand, already serves customers in over 2,500 cities. Pizza Hut, while established, still has room to grow, covering about 1,000 cities but targeting expansion into over 1,500 more where KFC already has a presence. The ambition is to exceed 25,000 total stores by the end of 2028, aiming for more than 30,000 by 2030.

Here's a snapshot of the scale and digital engagement across these segments:

Segment Indicator	KFC (Q3 2025)	Pizza Hut (Q3 2025)	Company-wide Digital Penetration (Q3 2025)
Total Stores	12,640	4,022	N/A
Digital Ordering Share of Total Sales	Approx. 95%	Approx. 95%	95%
Delivery Sales Share of Total Revenue	N/A	N/A	51%

Digital-native consumers are central to Yum China's current success, preferring mobile ordering and delivery. Digital ordering accounted for approximately 95% of total Company sales in Q3 2025. Delivery sales surged, contributing about 51% of total revenue for the same period. This segment is highly engaged through loyalty programs, too.

• Total KFC and Pizza Hut membership surpassed 575 million as of Q3 2025, marking a 13% year-over-year increase.
• Member sales represented approximately 57% of the aggregate system sales for KFC and Pizza Hut.
• Digital sales in Q3 2025 reached $2.8 billion.

For budget-conscious customers, Yum China actively manages its value proposition. Pizza Hut, for instance, saw its ticket average drop by 13% year-over-year in Q2 2025, which management noted was consistent with their strategy to emphasize value-for-money. The company also cited efforts to optimize supply chain efficiency in Q3 2025, allowing them to pass some savings on to customers.

Young professionals are targeted through newer, specialized concepts that cater to evolving tastes, especially for lighter meals and premium coffee experiences. Lavazza, the premium coffee chain, achieved double-digit same-store sales growth in Q3 2025 after building a solid foundation. Yum China is aiming to accelerate Lavazza's growth, targeting 1,000 coffee shops by 2029, up from around 120 stores at the end of September 2025. KPRO restaurants focus on the light food market, which is projected to exceed 500 billion yuan by 2026.

• KCOFFEE cafes, leveraging KFC store space, plan to expand to more than 5,000 locations by 2029, up from roughly 1,800 at the end of September 2025.
• KPRO is noted as a fantastic lighter option in Tier 1 cities like Shenzhen.
• Lavazza retail business (beans, drip, concentrate) was reported as profitable with lovely growth.

Yum China Holdings, Inc. (YUMC) - Canvas Business Model: Cost Structure

The Cost Structure for Yum China Holdings, Inc. is heavily weighted towards restaurant-level operating costs, with significant ongoing investment in expansion and technology to maintain its competitive edge across China.

High Capital Expenditures for Expansion

Yum China Holdings, Inc. maintains a substantial capital expenditure plan to fuel its aggressive network growth. The guidance for the full 2025 fiscal year is set in the range of $600 million to $700 million. This investment supports the target of opening approximately 1,600 to 1,800 net new stores for 2025. A positive trend is the reduction in per-store capital expenditure, which lowers the cost basis for new unit economics. For KFC, the per-store CapEx has dropped from 1.5 million Yuan in 2024 to between 1.3-1.4 million Yuan currently. Similarly, Pizza Hut's per-store CapEx fell from 1.2 million Yuan in 2024 to 1.0-1.1 million Yuan.

The breakdown of store count as of September 30, 2025, provides context for the scale of fixed and operating costs:

Metric	Value as of September 30, 2025
Total Store Count	17,514
KFC Stores	12,640
Pizza Hut Stores	4,022

Significant Costs for Food and Paper (Focus on Savings)

Food and Paper costs are a primary variable expense, and management focus is clearly on driving savings here to expand restaurant margins. For the third quarter of 2025, the Cost of Sales component of the restaurant margin was 31.3% of revenue, which represented a 40 basis points reduction year-over-year. The resulting Restaurant Margin for Q3 2025 reached 17.3%, directly supported by these savings. In the second quarter of 2025, savings in Food and Paper cost also contributed to a 60 basis points expansion in Restaurant Margin, which stood at 16.1%.

Here are some recent figures related to this cost category:

• Food and Paper cost for the first nine months of 2025: 2,623 million RMB.
• Food and Paper cost for Q4 2024: 776 million RMB.
• Q3 2025 Restaurant Margin: 17.3%.

Occupancy and Other Operating Expenses for 17,514 Stores

Occupancy costs, which include rent and lease liabilities, are a significant fixed cost component tied to the extensive store footprint of over 17,500 locations. The company has been actively optimizing this area, with Q3 2025 Occupancy and other expenses representing 25.2% of revenue, a 100 basis points improvement year-over-year. These savings also helped drive the Q3 2025 Restaurant Margin expansion. For the second quarter of 2025, Occupancy and other operating expenses were 669 million RMB for the period.

The trend in Occupancy and Other Operating Expenses over recent periods shows relative stability or slight reduction as a percentage of revenue:

Period End	Occupancy and Other Operating Expenses (in millions)	Impact on Restaurant Margin
Q3 2025 (9 months)	2,112	Supported savings
Q2 2025 (Quarter)	669	Contributed to margin expansion
Q4 2024 (Quarter)	672	Part of Company restaurant expenses

Investment in Digital Technology and AI Systems

Yum China Holdings, Inc. treats technology as a key enabler, with a history of significant investment. The company previously earmarked $1-1.5 billion for digital and technology investment over five years, starting around 2021. This investment underpins operational efficiency, with AI integration ongoing since 2019 and Generative AI exploration starting in 2023. The digital ecosystem is a major cost driver but also a revenue driver, as evidenced by digital ordering accounting for approximately 94% of total Company sales in Q2 2025. Furthermore, the delivery business, heavily reliant on digital routing and queuing systems, grew 32% year-over-year in Q3 2025. The loyalty program, a digital asset, boasts 540 million members, contributing 66% of system sales.

Key digital metrics influencing cost and efficiency include:

• Digital ordering share of total Company sales (Q2 2025): 94%.
• Loyalty members contribution to system sales (as of August 2025): 66%.
• Delivery sales growth (Q3 2025): 32% year-over-year.

Yum China Holdings, Inc. (YUMC) - Canvas Business Model: Revenue Streams

You're looking at the core engine of Yum China Holdings, Inc.'s financial performance, which is heavily reliant on selling food directly to the consumer, supplemented by a growing franchise model. The top-line number for the twelve months ending Q3 2025 was reported at $11.569 billion. This massive scale is supported by a physical footprint that continues to expand aggressively.

Restaurant Sales from company-owned and franchised stores are the primary driver. As of the end of Q3 2025, Yum China Holdings, Inc. operated a total of 17,514 stores across China. This network is a mix of wholly owned locations and those run by franchisees, which is a key strategic shift for capital efficiency.

Here's a quick look at the scale and the sales mix as of the third quarter:

Metric	Value	Context/Date
Total Store Count	17,514	As of September 30, 2025
KFC Stores	12,640	As of September 30, 2025
Pizza Hut Stores	4,022	As of September 30, 2025
Total Q3 2025 Revenues	$3.2 billion	Q3 2025
Delivery Sales YoY Growth	32%	Q3 2025

The digital channel is a major revenue accelerant. Delivery sales, a critical component of modern restaurant revenue, grew a strong 32% year-over-year in Q3 2025. Honestly, this channel is becoming indispensable; delivery contributed approximately 51% of total Company sales in that quarter alone. Digital ordering accounted for about 95% of total Company sales, showing how deeply integrated technology is into every transaction.

Franchise fees and royalties represent a less capital-intensive revenue stream that is actively being grown. For Q3 2025, Revenues from Franchise fees and income hit $28 million, marking a +12% increase year over year. This growth is intentional, as Yum China Holdings, Inc. is pushing to increase the franchise mix in new store openings to manage capital deployment better. You can see this focus in their 2025 targets:

• KFC net new store franchise mix target for 2025: 40-50%.
• Pizza Hut net new store franchise mix target for 2025: 20-30%.

The company opened 536 net new stores in Q3 2025, with franchisees opening 32% of those KFC locations and 28% of Pizza Hut locations in the quarter. That's how you build scale without tying up all your cash in real estate, you know?