Yum China Holdings Inc

YUMC: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$79.00	Jdn	Kykjktklr

Yum China’s Leading Supply and Distribution Platform Positions It Well in Attractive China Market

Ivan Su

Aug 2, 2022

Business Strategy and Outlook

The resurgence of COVID-19 cases has again put the Chinese restaurant sector under pressure. Several cities have returning to citywide quarantines, and travel volume during the early period of Chinese New Year is down 70%, placing pressure on the company’s near-term results. Nevertheless, we believe investors should find confidence in restaurants: possessing the scale to be more aggressive on pricing near-term; giving their customers greater access through robust digital ordering, delivery, and drive-thru capabilities; and who have healthy balance sheets when looking for restaurant industry opportunities.

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