Yum China announces $510m share repurchase program

Yum China Holdings, Inc. (HKEX:9987) announced a US$510 million share repurchase program for the second half of 2025. The program includes approximately US$410 million for repurchases under Rule 10b5-1 in the United States and approximately HK$790 million for a similar program in Hong Kong. These repurchases are part of a broader capital allocation strategy aiming to return US$3 billion to shareholders through dividends and share repurchases from 2025 to 2026, supplementing the US$1.5 billion already delivered in 2024. The Hong Kong repurchase will be executed through Goldman Sachs (Asia) L.L.C., subject to certain waivers from the Hong Kong Stock Exchange's listing rules. The program is expected to commence on July 1, 2025, and will continue until either December 31, 2025, or the allocated funds are exhausted.