百胜中国公布，截至去年12月底止第四季纯利约1.15亿元美元，按年增长18%；每股盈利0.3元；派季度股息每股24美仙，增加50%。自二季度以来，集团同店销售指数、利润率和经营利润增长率均逐季提高。2024年全年计，集团年度总收入增长3%至113亿元，创分拆上市以来新高；纯利约9.11亿元，升10%。每股盈利2.34元。同店销售额达2023年同期水平的97%。经营利润增长5%至12亿元。去年门店总数增长12%，净新增门店1,751家，门店总数达到了11,648家。未来，集团亦会不断增加直营和加盟店的店数，稳步向2026年实现2万家门店的目标迈进。此外，旗下咖啡品牌肯悦咖啡(KCOFFEE)增长迅速。2024年，肯德基共卖出2.5亿杯咖啡，同比上升30%。肯悦咖啡在短短一年之内从50家增至约700家，并预计在2025年底达到1300家。集团具备稳健的拓店节奏，同店有望企稳，且派息率逐步提高，值得关注。目标价$406，止蚀价$348。Kingwo Finance News | The Hang Seng Index closed at 21,133 on Friday (the 7th), up 241 points or 1.2%. The market turnover was 246.3 billion yuan. The National Index rose by 1.2%, closing at 7,784; the Tech Index jumped by 1.8%, closing at 5,150. Auto stocks performed exceptionally today. Xiaomi (01810) had its target price raised by Macquarie and HSBC, hitting a new high during the session, closing up 4.7%; BYD (01211) rose by 4.5%; Solar stocks also surged. XINTE ENERGY (01799) jumped by 6.4%; GCL TECH (03800) rose by 11.1%;
The Dow Jones closed at 44,303 points on Friday (the 7th), down 444 points or 0.99%; the S&P 500 fell by 0.95%, closing at 6,025 points; the Nasdaq dropped by 1.36%, closing at 19,523 points. In terms of individual stock performance, Amazon's revenue and operating profit forecasts for this quarter were poor, causing its closing stock price to drop by 4.1%; Apple fell by 2.4%, Alphabet dropped by 3.3%, and Tesla (TESLA) plunged by 3.4%; NVIDIA rebounded by 1%, being the largest gainer among the Dow stocks. Nike fell by 4.2%, being the worst performer among the Dow stocks. The Asia-Pacific stock markets were mixed this morning (the 10th), with the Nikkei 225 Index currently at 38,702 points, down 84 points or 0.22%. The South Korean Conglomerates Index is currently at 2,516 points, down 5 points or 0.21%. The USA will announce Steel and Aluminum tariffs on Monday, focusing on related Concept stocks.
Market Focus: YUM CHINA (09987)
YUM CHINA announced that the net profit for the fourth quarter ended last December was approximately 0.115 billion US dollars, a year-on-year increase of 18%; earnings per share were 0.3 yuan; a quarterly dividend of 24 US cents per share was declared, an increase of 50%. Since the second quarter, the group's same-store sales index, profit margin, and operating profit growth rate have improved each quarter. For the full year of 2024, the group expects total annual revenue to grow by 3% to 11.3 billion yuan, setting a new high since its spin-off listing; net profit is expected to be approximately 0.911 billion yuan, an increase of 10%. Earnings per share are 2.34 yuan. Same-store sales reached 97% of the level during the same period in 2023. Operating profit grew by 5% to 1.2 billion yuan. Last year, the total number of stores increased by 12%, with a net addition of 1,751 stores, bringing the total number of stores to 11,648. In the future, the group will continue to increase the number of directly operated and franchised stores, steadily progressing towards its goal of 0.02 million stores by 2026. Additionally, its coffee brand KCOFFEE is experiencing rapid growth. In 2024, KFC sold a total of 0.25 billion cups of coffee, a year-on-year increase of 30%. KCOFFEE grew from 50 stores to approximately 700 in just one year and is expected to reach 1,300 by the end of 2025. The group maintains a steady pace of store expansion, same-store sales are expected to stabilize, and the dividend payout ratio is gradually increasing, making it worth paying attention to. Target Price is $406, Stop Loss Price is $348.
(The author is a licensed person under the Securities and Futures Commission and does not hold shares in the above companies.)
Author: Dr. Deng Shengxing, Chairman of the Hong Kong Stock Analyst Association
