Hong Kong Stocks Active: Yum China Surges Over 7% After Earnings, Q2 Net Profit Up 14% Year-on-Year, Pizza Hut China Acquisition Expected to Close in August

Stock News07-31 09:36

Yum China Holdings, Inc. (ASX: YUMC), trading as YUM CHINA (09987.HK), saw its shares surge more than 7% following the release of its latest earnings report. As of the time of writing, the stock was up 2.68%, trading at 375.6 Hong Kong dollars, with a trading volume of 36.5672 million Hong Kong dollars.

On the news front, YUM CHINA disclosed its financial results, reporting a 13% year-on-year increase in total revenue to 3.1 billion U.S. dollars. Operating profit rose by 14% year-on-year to 348 million U.S. dollars, while net profit grew by 14% year-on-year to 244 million U.S. dollars. Additionally, YUM CHINA announced that it expects to complete the acquisition of the Pizza Hut brand in mainland China by August this year. Based on preliminary assessments, the company anticipates that the pace of Pizza Hut store openings will further accelerate starting next year.

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