Increased investment in technologies and facilities to improve efficiency and support long-term growth
SHANGHAI, Dec. 31, 2020 /PRNewswire/ — Yum China Holdings, Inc. (the "Company" or "Yum China", NYSE: YUMC and HKEX: 9987) announced that the Suzhou and Wuxi branches of its Centralized Shared Service Center (CSSC) have officially been put into operation. This brings the total number of CSSC in China to three, which will further support the Company’s long-term growth and protect the Company’s business continuity in the event of a crisis.
"Expanding CSSC is a strategic priority, which not only better prepares us for challenges such as COVID-19, but also supports the Company’s sustainable growth in the long run," said Joey Wat, CEO of Yum China. "The two CSSC branches form part of our on-going strategy to create a more resilient business model by investing in digital and technology and enhancing efficiency and agility."
Yum China has operations in over 1,400 cities with over 400,000 employees. In order to streamline and standardize the HR and finance processes, and drive operational excellence and cost efficiency, the Company established its first CSSC in Wuhan in 2015. The CSSC provides centralized processing of HR and finance activities related to administrative and transactional processes. Despite the challenges experienced in Wuhan due to COVID-19, including a period of lockdown, the CSSC successfully implemented a robust contingency plan and leveraged emerging technologies, such as robotic process automation (RPA), AI and cloud calls to achieve minimum disruption of operations. These actions ensured the normal operation of all personnel and finance functions, including the timely and accurate payment of salaries for more than 400,000 employees, and aiding the recruitment of management trainees for approximately 10,000 restaurants. The two new CSSC branches in Suzhou and Wuxi will support the Company’s operations in Eastern China and further strengthen the Company’s crisis management capabilities.
Yum China will continue to drive digital transformation and enhance organizational efficiency throughout the business.
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. 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," "likely," "will," "should," "forecast," "outlook," "look forward to" 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 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 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. 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 our 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 Holdings, Inc. is a licensee of Yum! Brands in mainland China. It has exclusive rights in mainland China to KFC, China’s leading quick-service restaurant brand, Pizza Hut, the leading casual dining restaurant brand in China, and Taco Bell, a California-based restaurant chain serving innovative Mexican-inspired food. Yum China also owns the Little Sheep, Huang Ji Huang, East Dawning and COFFii & JOY concepts outright. Yum China also partners with Lavazza to explore and develop the Lavazza coffee shop concept in China. The Company had 10,150 restaurants in over 1,400 cities at the end of September 2020. Yum China ranked # 361 on the Fortune 500 list for 2020. In 2020, Yum China was named to the Bloomberg Gender-Equality Index and was certified as a Top Employer 2020 in China by the Top Employers Institute, both for the second consecutive year. For more information, please visit http://ir.yumchina.com.
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