Yum China Holdings, Inc. (the "Company" or "Yum China") (NYSE:YUMC) announced that it has entered into share repurchase agreements in the U.S. and Hong Kong for an aggregate repurchase amount of approximately US$360 million for the first half of 2025, commencing on January 6, 2025.

The share repurchase agreements include approximately US$290 million under the Rule 10b5-1 of the United States Securities Exchange Act of 1934 in the U.S. and approximately HK$550 million for a similar program in Hong Kong. These agreements are one component of the share repurchase program, and part of the broader capital allocation plan to return US$4.5 billion to shareholders through dividends and share repurchases from 2024 to 2026, including US$1.5 billion for the full year 2024.

In the first 11 months of 2024, the Company returned a record US$1.37 billion to shareholders, including US$1.18 billion in share repurchases and US$187 million in cash dividends. A total of 30 million shares have been bought back, equivalent to approximately 7% of its outstanding shares as of December 31, 2023.