Yum China (YUMC) adds US$1B to share repurchase plan and signs US$460M 2026 buybacks

Rhea-AI Filing Summary

Yum China Holdings, Inc. reported that its board has expanded the company’s share repurchase authorization by an additional US$1 billion. This increases the amount of capital the company can use to buy back its own stock over time. On the same day, the company also announced entering into share repurchase agreements totaling approximately US$460 million for the first half of 2026, committing a portion of this expanded authorization to scheduled buybacks. Both developments were disclosed through press releases furnished as exhibits to this report.

Insights

Equity Capital Allocation Analyst

Yum China expands buyback capacity by US$1B and plans US$460M repurchases.

Yum China expanded its share repurchase authorization by US$1 billion, giving the company more room to retire shares using excess cash. It also disclosed share repurchase agreements of about US$460 million for the first half of 2026, which directs a substantial portion of that authorization into defined near-term activity.

These actions signal a commitment to returning capital via buybacks, which can reduce share count when executed. The actual financial impact will depend on future share prices and the company’s operating performance as it carries out these repurchases under the expanded authorization and the announced agreements.

0001673358false0001673358dei:OtherAddressMember2025-12-122025-12-1200016733582025-12-122025-12-12

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): December 12, 2025

Yum China Holdings, Inc.

(Exact Name of Registrant as Specified in its Charter)

Delaware		001-37762		81-2421743
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

		Yum China Building
101 East Park Boulevard, Suite 805		20 Tian Yao Qiao Road
Plano, Texas 75074		Shanghai 200030
United States of America		People’s Republic of China

(Address, including zip code, of principal executive offices)

(469) 980-2898

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	YUMC	New York Stock Exchange
	9987	The Stock Exchange of Hong Kong Limited

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

1

Item 7.01. Regulation FD Disclosure.

On December 12, 2025, Yum China Holdings, Inc. issued a press release announcing the expansion of share repurchase authorization by US$1 billion and a press release announcing approximately US$460 million share repurchase agreements for the first half of 2026. Copies of the press releases are being furnished as Exhibit 99.1 and Exhibit 99.2, respectively, to this Current Report on Form 8-K.

Item 9.01. (d) Financial Statements and Exhibits. Exhibits.

The following exhibits are furnished with this report:

Exhibit No.		Exhibit Description
99.1		Press Release of Yum China Holdings, Inc. issued on December 12, 2025 announcing the expansion of share repurchase authorization.
99.2		Press Release of Yum China Holdings, Inc. issued on December 12, 2025 announcing the share repurchase agreements.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	YUM CHINA HOLDINGS, INC.
	By:	/s/ Pingping Liu
		Name: Pingping Liu
		Title: Chief Legal Officer
Date: December 12, 2025

3

FAQ

What did Yum China (YUMC) announce regarding its share repurchase authorization?

Yum China announced an expansion of its share repurchase authorization by an additional US$1 billion, increasing the amount it can use to buy back shares.

How much stock does Yum China (YUMC) plan to repurchase under new agreements?

Yum China announced share repurchase agreements totaling approximately US$460 million for the first half of 2026.

When were Yum Chinas new share repurchase plans announced?

The new US$1 billion share repurchase authorization expansion and approximately US$460 million repurchase agreements were both announced on December 12, 2025.

How did Yum China (YUMC) disclose its updated repurchase plans?

Yum China disclosed the expanded authorization and repurchase agreements through press releases that are furnished as Exhibits 99.1 and 99.2 to this report.

Does the Yum China (YUMC) announcement involve new securities being issued?

No, the announcement relates to share repurchases, meaning Yum China intends to buy back its existing common stock rather than issue new shares.

Which stock exchanges list Yum China (YUMC) common stock?

Yum Chinas common stock is listed on the New York Stock Exchange under the symbol YUMC and on The Stock Exchange of Hong Kong Limited under the stock code 9987.