KFC China Expands CSR Initiatives to Support Underprivileged Children, Promote Social Inclusion, and Reduce Environmental Impacts and Food Waste

SHANGHAI, June 30, 2023 /PRNewswire/ -- Yum China Holdings, Inc. (NYSE: YUMC and HKEX: 9987, "Yum China" or the "Company") today announced that KFC China has hosted its latest Public Welfare Awareness Event in Hangzhou. At the event, KFC China announced the expansion of several corporate social responsibility (CSR) initiatives that cover a wide range of areas, including supporting the disadvantaged, preserving the environment and reducing food waste. KFC China's first Goodwill Ambassador, Olympic Champion Guo Jingjing, also attended the event.

"Giving back to society is deeply embedded in our culture. We actively support causes that can have positive impact on the communities we serve," said Joey Wat, CEO of Yum China. "We aim to create an effective platform that inspires people to come together with a shared purpose and make a difference in our community."

Warton Wang, General Manager of KFC China, added, "KFC China will continue leveraging its extensive restaurant network to further its social responsibility initiatives, with a particular focus on supporting the disadvantaged, promoting sustainability and climate action, as well as advocating for healthy lifestyles."

At the event, KFC China announced the following expanded CSR initiatives:

• As a joint effort between KFC China and the China Children and Teenagers' Fund, the "KFC Little Migratory Bird Fund" will undergo significant enhancements, aiming to expand the fund's support for underprivileged children who face challenges such as poverty and disabilities. Since 2016, the fund has been promoting the physical and mental development of left-behind children through reading, sports, and arts activities across the country. KFC China also shared that it aims to provide financial assistance to 1,000 children and organize 200 caring and companionship activities by the end of 2024.
• KFC China launched a reusable serving basket made from KFC's coffee grounds to promote climate action. The baskets will initially be rolled out at 1,500 KFC restaurants in Beijing, Shanghai, Guangzhou, Shenzhen, and Hangzhou, before being progressively introduced at restaurants nationwide. In addition, KFC China is committed to introducing more carbon neutral products through forest planting initiatives in key areas to support environment protection and restoration.
• KFC China will expand its Food Bank Program, which distributes free surplus food from its stores. The program is set to be expanded to more than 700 stores in over 100 cities by the end of 2023, doubling that from 2022. The program reduces food waste and GHG emissions.
• KFC China unveiled a new "Angel Restaurant" in Hangzhou, the host city for the 19th Asian Games and 4th Asian Para Games. KFC China will select outstanding "Angel Employees" from its "Angel Restaurants" to form a special service team for the Asian Games. The "Angel Restaurants" initiative creates a welcoming and inclusive workplace for people with special needs. As of the end of June 2023, KFC China has 36 "Angel Restaurants" in 32 cities, employing over 200 individuals with special needs each year. These restaurants are equipped with upgraded visual devices, and custom visual learning materials to enhance work environment of "Angel Employees".

Since entering mainland China 36 years ago, KFC China has remained steadfast in its commitment to social responsibility. With a network of over 9,200 stores across 1,800 cities, KFC China strives to utilize its extensive reach as a powerful engagement platform that brings people together in supporting the disadvantaged, protecting the environment and fostering a more caring society.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including under "2023 Outlook." We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as "expect," "expectation," "believe," "anticipate," "may," "could," "intend," "belief," "plan," "estimate," "target," "predict," "project," "likely," "will," "continue," "should," "forecast," "outlook," "commit" or similar terminology. These statements are based on current estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable under the circumstances, but there can be no assurance that such estimates and assumptions will prove to be correct. Forward-looking statements include, without limitation, statements regarding the future strategies, growth, business plans, investment, dividend and share repurchase plans, earnings, performance and returns of Yum China, anticipated effects of population and macroeconomic trends, the expected impact of the COVID-19 pandemic, pace of recovery of Yum China's business, the anticipated effects of our innovation, digital and delivery capabilities and investments on growth and beliefs regarding the long-term drivers of Yum China's business. Forward-looking statements are not guarantees of performance and are inherently subject to known and unknown risks and uncertainties that are difficult to predict and could cause our actual results or events to differ materially from those indicated by those statements. We cannot assure you that any of our expectations, estimates or assumptions will be achieved. The forward-looking statements included in this press release are only made as of the date of this press release, and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law. Numerous factors could cause our actual results or events to differ materially from those expressed or implied by forward-looking statements, including, without limitation: whether we are able to achieve development goals at the times and in the amounts currently anticipated, if at all, the success of our marketing campaigns and product innovation, our ability to maintain food safety and quality control systems, changes in public health conditions, including the COVID-19 pandemic, our ability to control costs and expenses, including tax costs, as well as changes in political, economic and regulatory conditions in China. In addition, other risks and uncertainties not presently known to us or that we currently believe to be immaterial could affect the accuracy of any such forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. You should consult our filings with the Securities and Exchange Commission (including the information set forth under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q) for additional detail about factors that could affect our financial and other results.

About Yum China Holdings, Inc.

Yum China is the largest restaurant company in China with a mission to make every life taste beautiful. The Company has over 400,000 employees and operates over 13,000 restaurants under six brands across 1,800 cities in China. KFC and Pizza Hut are the leading brands in the quick-service and casual dining restaurant spaces in China, respectively. Taco Bell offers innovative Mexican-inspired food. Yum China has also partnered with Lavazza to develop the Lavazza coffee concept in China. Little Sheep and Huang Ji Huang specialize in Chinese cuisine. Yum China has a world-class, digitalized supply chain which includes an extensive network of logistics centers nationwide and an in-house supply chain management system. Its strong digital capabilities and loyalty program enable the Company to reach customers faster and serve them better. Yum China is a Fortune 500 company with the vision to be the world's most innovative pioneer in the restaurant industry. For more information, please visit http://ir.yumchina.com. 

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