Expansion PlansNet unit expansion is expected to be the key driver, with Yum China planning to open 1,500-1,700 stores in 2024E and aiming to reach 20,000 stores by 2026.
Financial PerformanceYum China's 4Q23 results came in above expectations, with same-store sales growth (SSSG) performing better than expected.
Market StrategyYUMC's strategy is to actively drive healthy traffic through good offerings and an extended price range.