Glonghui, Feb. 20 | Haitong Securities released a research report stating that it maintains Yum China's “superior to the market” rating, with a target price range of HK$345.1-431.3. The bank expects total revenue of US$11.739 billion, US$12.679 billion, and US$13.667 billion, respectively, up 6.9%, 8.0%, and 7.8% year-on-year; net profit to mother will be US$896 million, US$975 million, and US$1,065 million, respectively, up 8.3%, 8.8%, and 9.3% year-on-year; corresponding to EPS of US$2.21, US$2.40, and US$2.62, respectively. The bank believes that the company continues to expand its KFC and Pizza Hut stores steadily through the promotion of new and cost-effective products. It expects a net addition of about 1,500-1,700 new stores in 2024, and capital expenditure of about 7-850 million US dollars in 2024. It is expected to further strengthen business resilience, business growth, and strategic moats through the R.G.M strategy.