Yum China Holdings, Inc. today announced that it has hit the 20,000-store milestone, spanning over 2,800 cities and towns across China, as it celebrates the 10th anniversary of its listing on the New York Stock Exchange.
Yum China celebrates the 10th anniversary of its listing on the New York Stock Exchange
The Company celebrated this milestone with over 10,000 restaurant general managers (RGMs) at its annual RGM convention. This year’s event was held in Chengdu, a vibrant city renowned for its rich culinary culture. The occasion was marked by the simultaneous opening of six new stores – one for each brand it operates in Mainland China: KFC, Pizza Hut, Lavazza, Taco Bell, Little Sheep and Huang Ji Huang.
Joey Wat, CEO of Yum China, commented, “Reaching 20,000 stores is a milestone made possible by the hard work of Yum China employees and the trust of our customers. 2026 marks the second year of executing our RGM 3.0 strategy, which focuses on resilience, growth and moat. In a dynamic operating environment, we remain laser-focused on execution — solving problems, turning strategy into action, and delivering sustainable profitable growth.”
Targeting 30,000 Stores by 2030
From the first KFC store in China, opened in 1987, it took the Company 33 years to reach its first 10,000 stores and just six years to add the next 10,000. As shared at its 2025 investor day, Yum China is targeting 30,000 stores by 2030, meaning it expects to add the next 10,000 stores within four years. This accelerated expansion underscores Yum China’s strong execution capabilities and significant runway for growth in China. The Company plans to continue expanding through its equity-and-franchise hybrid model, supported by diverse store formats and offerings tailored to different city tiers and consumer occasions.
Alongside its rapid store expansion, KFC and Pizza Hut developed side-by-side modules including KCOFFEE café, KPRO and Pizza Hut Burger Bar, capturing new consumer occasions and generating incremental sales and profits. Through solid execution and a strong commitment to shareholder value, Yum China delivered double-digit diluted EPS growth year-over-year in the first nine months of this year and in each of the past three years, and continues to target a double-digit diluted EPS CAGR from 2026 to 2028, as outlined at its 2025 investor day.
Agentic AI to Support Growth at Scale
Yum China’s RGM 3.0 strategy has a dual focus of innovation and operational efficiency to drive growth. Since 2023, the Company has been exploring and deploying agentic AI to enhance operational efficiency across the organization. In 2025, Yum China began piloting “Q-Smart,” an AI-enabled assistant that supports restaurant managers with data-intensive tasks such as labor scheduling and inventory management.
Its latest “AI Store Assistant” builds on Q-Smart and adds a range of new capabilities. By further integrating AI and advanced technologies with restaurant operating data and connected kitchen equipment, the upgraded agent provides real-time recommendations on operating decisions. For example, it can identify changes in restaurant traffic and suggest adjustments to production and staffing, helping restaurants respond more nimbly while reducing food waste.
Supporting and Caring for Frontline Teams
Yum China upholds the “RGM No.1” principle, prioritizing the needs of its RGMs and frontline employees. In addition to the AI Store Assistant, Yum China launched its RGM One-Stop Service Center this year. It features a single interface where a dedicated case manager, aided by AI, supports RGM requests across IT, human resources, supply chain, finance, and other functions. Over time, the system is expected to provide insights into restaurant needs to improve processes and support decision-making.
Beyond equipping its workforce with the tools and resources needed at work, Yum China is also further enhancing its care for frontline teams through more targeted medical support. This includes access to services such as medical appointment registration, assistance with hospitalization and surgery scheduling, and complimentary caregiver support for eligible employees and their family members during critical moments. The initiative is designed to help ease the burden of coordinating medical resources when support is needed the most.
Looking ahead, Yum China will continue to champion its “People First” philosophy, which has been the cornerstone of its growth for nearly 40 years, by offering employees a platform to help realize their full potential and ensuring that every contribution is recognized and valued.
