Yum China (YUMC) Proxy Filing summary

Executive summary

• Annual Meeting scheduled for May 23, 2025, in Hong Kong, with voting on key corporate matters and director elections.

• 2024 marked a record year with $11.3 billion in revenue, 16,395 restaurants, and strong digital sales growth.

• Company returned $1.5 billion to shareholders in 2024 through dividends and share repurchases.

• Focus on operational efficiency, innovation, and expansion, with 1,751 net new stores opened in 2024.

Voting matters and shareholder proposals

• Election of 12 director nominees for a one-year term.

• Ratification of KPMG Huazhen LLP and KPMG as independent auditors for 2025.

• Advisory vote on executive compensation (Say-on-Pay).

• Authorization for the Board to issue up to 20% of outstanding shares until June 23, 2026.

• Authorization for the Board to repurchase up to 10% of outstanding shares until June 23, 2026.

Board of directors and corporate governance

• Board consists of 12 nominees, 10 of whom are independent; 50% gender diversity.

• Annual election of all directors; majority voting policy in uncontested elections.

• Board diversity in age, gender, race, and nationality; average nominee age is 57.

• Stockholders with at least 25% of shares can call special meetings; no poison pill in place.

• Board committees: Audit, Compensation, Nominating and Governance, Food Safety and Sustainability.