Yum China Holdings, Inc. (YUMC): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le monde fascinant de Yum China Holdings, Inc. (YUMC), une centrale culinaire qui a révolutionné la restauration rapide à travers la nation la plus peuplée du monde. Avec un stupéfiant 9,000+ Les restaurants et une approche stratégique qui mélange la reconnaissance mondiale des marques avec les informations sur le marché hyper-local, YUMC a transformé la façon dont des millions de consommateurs chinois éprouvent des repas rapides, délicieux et abordables. De KFC à Pizza Hut, leur modèle commercial est une masterclass en adaptabilité, en innovation numérique et en stratégie centrée sur le consommateur qui va bien au-delà des paradigmes traditionnels de restauration rapide.

Yum China Holdings, Inc. (YUMC) - Modèle commercial: partenariats clés

Partenariat stratégique avec les marques mondiales

Yum China détient des droits exclusifs d'exploitation des restaurants KFC, Pizza Hut et Taco Bell en Chine, avec un total de 9 406 restaurants au 31 décembre 2022. Le partenariat stratégique implique:

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

Collaborations locales de fournisseurs d'aliments chinois

Yum China entretient des partenariats stratégiques avec les producteurs agricoles locaux et les fournisseurs d'aliments à travers la Chine.

Catégorie des fournisseurs	Nombre de partenariats	Valeur d'achat annuelle
Fournisseurs de viande locaux	45	782 millions de dollars
Producteurs de légumes	38	456 millions de dollars
Fournisseurs de produits laitiers	22	213 millions de dollars

Partenariats technologiques

Yum China a établi des collaborations de paiement numérique avec des plates-formes principales:

• Alipay: Plus de 500 millions d'utilisateurs actifs sont connectés
• WeChat Pay: Intégration dans 9 406 restaurants
• Total des transactions de paiement numérique en 2022: 4,2 milliards de dollars

Accords de franchise

Le réseau de franchise à travers la Chine comprend:

Région	Nombre de restaurants franchisés	Revenus de franchise
Chine orientale	412	187 millions de dollars
Chine du sud	356	163 millions de dollars
Chine occidentale	289	132 millions de dollars

Yum China Holdings, Inc. (YUMC) - Modèle d'entreprise: Activités clés

Opérations et gestion des restaurants

En 2023, Yum China exploite 12 360 restaurants sur plusieurs marques, notamment KFC, Pizza Hut et Taco Bell. La société gère 9 566 restaurants KFC et 2 304 emplacements de cabanes de pizza en Chine.

Marque	Nombre de restaurants	Pénétration du marché
KFC	9,566	62% du portefeuille de restaurants totaux
Pizza Hut	2,304	15% du portefeuille total des restaurants
Taco-cloche	290	2% du portefeuille total des restaurants

Localisation et innovation du menu

Yum China investit environ 30 millions de dollars par an dans la recherche et le développement pour l'innovation de menu. La société présente 50 à 70 nouveaux éléments de menu chaque année adaptés aux préférences des consommateurs chinois.

• Taux d'approvisionnement local des ingrédients: 95%
• Innovations annuelles sur les articles du menu: 50-70
• Variations de menu régional: 12-15 Adaptations de menu régionaux différents

Plateforme de marketing numérique et de commerce électronique

Les ventes numériques représentent 29% des revenus totaux, les plateformes de commande mobile générant 2,3 milliards de dollars de revenus annuels. L'entreprise compte 410 millions de membres dans son programme de fidélité numérique.

Gestion de la chaîne d'approvisionnement

Yum China gère 29 centres de distribution centralisés à travers la Chine. Investissement annuel de la chaîne d'approvisionnement: 125 millions de dollars pour le contrôle de la qualité et les infrastructures logistiques.

Métrique de la chaîne d'approvisionnement	Valeur
Centres de distribution	29
Investissement annuel de la chaîne d'approvisionnement	125 millions de dollars
Taux de conformité des fournisseurs	97%

Expansion du restaurant

En 2023, Yum China a ouvert 620 nouveaux restaurants, avec une expansion prévue de 800-900 nouveaux emplacements en 2024. Total Restauration Network devrait atteindre 13 200 à fin 2024.

• Nouvelles ouvertures de restaurant en 2023: 620
• Projeté en 2024 Nouvelles ouvertures de restaurant: 800-900
• Projeté Total Restaurants d'ici 2024: 13 200

Yum China Holdings, Inc. (YUMC) - Modèle d'entreprise: Ressources clés

Réseau de restauration

Total des restaurants: 9 455 restaurants à travers la Chine au 31 décembre 2022

Marque	Nombre de restaurants
KFC	6,016
Pizza Hut	2,298
Taco-cloche	207

Infrastructure numérique

Capacités numériques:

• Plus de 410 millions de membres dans le programme de fidélité numérique
• Taux de pénétration de commande mobile de 83% en 2022
• Les ventes numériques représentaient 29% du total des ventes de systèmes en 2022

Gestion de la chaîne d'approvisionnement

Détails de la chaîne d'approvisionnement:

• 5 centres d'achat centralisés
• 12 centres de transformation des aliments
• Plusieurs fournisseurs locaux et internationaux

Ressources financières

Métrique financière	Valeur 2022
Revenus totaux	9,3 milliards de dollars
Revenu net	542 millions de dollars
Equivalents en espèces et en espèces	1,4 milliard de dollars

Ressources humaines

Taille de la main-d'œuvre: Environ 450 000 employés à partir de 2022

Yum China Holdings, Inc. (YUMC) - Modèle d'entreprise: propositions de valeur

Options de restauration abordables et pratiques

Yum China exploite 9 406 restaurants à travers la Chine au cours du trimestre 2023. Les prix moyens des repas varient entre 20 et 50 CNY (3 à 7 $ USD). KFC et Pizza Hut offrent des combos de repas de valeur au prix de compétition.

Marque de restaurant	Coût moyen des repas	Trafic client quotidien
KFC	CNY 35 (5 $ USD)	1,2 million de clients
Pizza Hut	CNY 45 (6,50 $ USD)	350 000 clients

Qualité constante et préparation des aliments standardisés

Yum China maintient des normes de sécurité alimentaire strictes avec Conformité à 99,5% Dans tous les restaurants. L'investissement dans les centres de transformation des aliments centralisés assure une qualité uniforme.

Offres de menu localisées adaptées aux goûts chinois

La stratégie de localisation du menu comprend:

• Éléments de menu spécifiques au chinois uniques au KFC: tartes aux œufs, congee
• Variations de saveurs régionales entre 23 provinces
• 50+ éléments de menu localisés développés chaque année

Services de commande et de livraison numériques rapides

Métriques de performance de la plate-forme numérique:

Canal numérique	Utilisateurs actifs mensuels	Taux d'achèvement de la commande
Programme WeChat Mini	85 millions d'utilisateurs	97.3%
Plates-formes de livraison	45 millions d'utilisateurs	94.6%

Expériences de restaurants adaptés aux familles

Métriques du segment de la salle à manger familiale:

• Les combos de repas familiaux représentent 35% du total des ventes
• Options de repas pour enfants dans 95% des restaurants
• Dépenses familiales moyennes: 120 CNY (17 $ USD) par visite

Yum China Holdings, Inc. (YUMC) - Modèle d'entreprise: relations avec les clients

Programmes de fidélité basés sur des applications mobiles

Les applications mobiles KFC, Pizza Hut et Taco Bell de Yum China comptent 512,4 millions de membres au T3 2023. La plate-forme d'adhésion numérique de la société génère 92% des ventes totales via des canaux numériques.

Application mobile	Total des membres	Pourcentage de ventes numériques
Application KFC	320,6 millions	55%
Application Pizza Hut	126,8 millions	25%
Application Taco Bell	65 millions	12%

Campagnes de marketing numérique personnalisées

Yum China a investi 52,3 millions de dollars dans les technologies de marketing numérique en 2023, ciblant les stratégies d'engagement client personnalisées.

Engagement interactif sur les réseaux sociaux

La société maintient une présence active sur les réseaux sociaux sur toutes les plateformes:

• Les abonnés de Weibo: 8,6 millions
• WeChat Comptes officiels: 15 canaux de marque distincts
• Engagement mensuel moyen des médias sociaux: 3,2 millions d'interactions

Commentaires des clients et systèmes d'amélioration continue

Yum China traite environ 1,2 million d'entrées de rétroaction des clients par mois via des plates-formes numériques, avec un taux de réponse de 97,5%.

Normes de service client cohérentes

Mesures de service client standardisées sur les marques de restaurants:

Métrique de service	Cible de performance	Performance réelle 2023
Temps de réponse moyen	15 minutes	12,7 minutes
Taux de satisfaction client	90%	92.3%
Résolution des plaintes	24 heures	18,5 heures

Yum China Holdings, Inc. (YUMC) - Modèle d'entreprise: canaux

Application mobile pour la commande et la livraison

Yum China exploite des applications mobiles pour les marques KFC, Pizza Hut et Little Sheep avec les mesures suivantes:

Plate-forme	Utilisateurs actifs mensuels	Pourcentage de commande numérique
Application mobile KFC	95,4 millions	68% du total des commandes
Application mobile Pizza Hut	45,2 millions	52% du total des commandes

Expériences culinaires en magasin

Statistiques physiques des canaux de restauration:

• Nombre total de restaurants: 9 406 en décembre 2022
• Déchange de marque:
  • KFC: 6 407 emplacements
  • Pizza Hut: 2 272 emplacements
  • Petit mouton: 452 emplacements

Plates-formes de livraison de nourriture tierces

Détails du partenariat de la plate-forme de livraison:

Plate-forme de livraison	Part de marché	Taux de commission moyen
Meituan	62.3%	15-20%
Ele.me	35.7%	13-18%

Emplacements de restaurants physiques

Distribution géographique des restaurants:

• Provinces couvertes: 32 sur 34 en Chine
• Villes de niveau 1 et 2: 65% du total des emplacements
• Taille moyenne du restaurant: 250-300 mètres carrés

Plateformes de marketing des médias sociaux

Performance du canal de marketing numérique:

Plate-forme	Abonnés	Taux d'engagement
Comptes officiels de WeChat	48,6 millions	4.2%
Weibo	22,3 millions	3.7%

Yum China Holdings, Inc. (YUMC) - Modèle d'entreprise: segments de clients

Consommateurs de classe moyenne urbaine

En 2024, Yum China dessert environ 135 millions de clients par mois dans ses réseaux de restaurants. Le segment urbain de la classe moyenne représente 52,3% de sa clientèle totale.

Caractéristiques démographiques	Pourcentage
Tranche d'âge	25-45 ans
Revenu mensuel moyen	¥8,500 - ¥15,000
Couverture de la population urbaine	68.4%

Jeunes professionnels et étudiants

Ce segment représente 28,7% de la clientèle de Yum China, avec une présence concentrée dans les villes de niveau 1 et de niveau 2.

• Fréquence de commande numérique: 4,2 fois par mois
• Dépenses moyennes par transaction: ¥ 45-65
• Préférences du restaurant primaire: KFC et Pizza Hut

Les familles à la recherche d'options de restauration pratiques

Les familles représentent 24,5% des segments de clients de Yum China, avec des préférences de restauration spécifiques.

Métriques du segment de la famille	Points de données
Taille de la famille moyenne	3,2 personnes
Fréquence de restauration le week-end	2,1 fois par mois
Dépenses de repas	180-250 ¥ par visite

Consommateurs avertis du numérique

L'engagement numérique reste essentiel pour la stratégie d'acquisition des clients de Yum China.

• Utilisateurs d'applications mobiles: 95,6 millions actifs mensuels
• Pourcentage de commande en ligne: 42,3%
• Adoption des paiements numériques: 87,5%

Enthousiasmes alimentaires soucieux du budget

Les consommateurs axés sur la valeur représentent 18,9% du segment de marché de Yum China.

Caractéristiques du segment du budget	Métrique
Préférence du coût des repas moyens	¥30-50
Taux de réponse promotionnelle	67.4%
Participation du programme de fidélité	58.7%

Yum China Holdings, Inc. (YUMC) - Modèle d'entreprise: Structure des coûts

Acharnement des ingrédients alimentaires

Coûts d'achat annuels des ingrédients alimentaires pour Yum China en 2022: 2,1 milliards de dollars

Catégorie d'ingrédient	Coût annuel ($)
Ingrédients protéiques	752 millions
Produits frais	456 millions
Matériaux d'emballage	312 millions

Salaire du personnel du restaurant

Total des dépenses de main-d'œuvre en 2022: 1,65 milliard de dollars

• Salaire horaire moyen: 12,50 $
• Total des employés: 420 000
• Dépenses annuelles liées aux salaires: 1,65 milliard de dollars

Dépenses immobilières et locatives

Total des frais immobiliers en 2022: 780 millions de dollars

Type de dépenses	Coût annuel ($)
Location de restaurant	520 millions
Bail de bureau	160 millions
Entretien	100 millions

Investissements de plate-forme marketing et numérique

Total des dépenses de marketing en 2022: 420 millions de dollars

• Budget de marketing numérique: 180 millions de dollars
• Publicité traditionnelle: 140 millions de dollars
• Développement de la plate-forme numérique: 100 millions de dollars

Gestion de la chaîne d'approvisionnement et de la logistique

Coûts opérationnels de la chaîne d'approvisionnement annuels: 650 millions de dollars

Composant logistique	Coût annuel ($)
Transport	320 millions
Entrepôts	210 millions
Infrastructure technologique	120 millions

Yum China Holdings, Inc. (YUMC) - Modèle d'entreprise: Strots de revenus

Ventes de restauration

En 2022, Yum China a déclaré des ventes totales de systèmes de 9,4 milliards de dollars. Répartition des ventes de restaurants:

Marque	Ventes annuelles (2022)
KFC	6,8 milliards de dollars
Pizza Hut	2,1 milliards de dollars
Taco-cloche	500 millions de dollars

Revenus des commandes numériques et de livraison

Ventes numériques représentées 83% du total des ventes de systèmes en 2022, s'élevant à 7,8 milliards de dollars. Les canaux de livraison ont contribué environ 3,5 milliards de dollars aux revenus totaux.

Frais de licence de franchise

Les revenus de la franchise en 2022 ont totalisé 237 millions de dollars, représentant 4.2% du total des revenus de l'entreprise.

Services de restauration et de repas d'entreprise

Le segment des entreprises et de la restauration a généré environ 450 millions de dollars en 2022, avec un accent clé sur:

• Programmes de déjeuner d'entreprise
• Restauration d'événements à grande échelle
• Solutions de repas en milieu de travail

Marchandises et ventes de produits de marque

Les revenus de marchandise de marque ont atteint 85 millions de dollars en 2022, notamment:

Catégorie de produits	Ventes annuelles
Marchandises de marque	45 millions de dollars
Produits alimentaires emballés	40 millions de dollars

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?