Jinwu Financial News | Yum China (09987) continued to decline throughout the day. As of press release, it fell 5.41% to HK$297, with a turnover of $245 million.
The company announced financial results for the first quarter of 2024. The company achieved revenue of US$2.96 billion in the first quarter, an increase of 1% over the previous year, lower than analysts' expectations of US$3.02 billion. Net profit of US$287 million was realized, down 1% year over year.
The company's management said that the company's 2024 target remains unchanged from previous disclosures: net addition of about 1,500 to 1,700 stores, capital expenditure of between 700 million and 850 million US dollars, and a return of about 1.5 billion US dollars to shareholders in the form of quarterly cash dividends and share repurchases.