SHANGHAI, Nov. 6, 2018 /PRNewswire/ -- Dr. Fred Hu, Chairman of the Board of Directors of Yum China Holdings, Inc. (the "Company" or "Yum China") (NYSE: YUMC) and Ms. Joey Wat, CEO of Yum China, today welcomed the Governor of Kentucky, Matt Bevin, and his delegation to tour KFC, Pizza Hut, Taco Bell and Little Sheep stores in Wujiaochang Wanda Plaza in Shanghai.
Dr. Fred Hu, Chairman of the Board of Directors of Yum China, said, "KFC has a special connection to Kentucky, and we were delighted to show Governor Bevin and the delegation how much it has grown and evolved since entering China over 30 years ago. Creating innovative dining experiences that are tailored to the preferences of Chinese consumers has been central to the growth of all of Yum China's brands and will remain a key focus as we expand into lower tier cities across the country."
Joey Wat, CEO of Yum China, said, "We were honored to welcome Governor Bevin and the Kentucky delegation to our stores and introduce some of the drivers of our success in China including our commitment to localization, quality and innovation. The Chinese consumer is increasingly digitally enabled, and it is essential to seamlessly integrate digital assets with offline stores to create a holistic experience for customers. Yum China is at the forefront of this trend and introducing innovations that are relevant to the restaurant industry not just in China, but globally."
At the KFC store, Governor Bevin tested the smile-to-pay feature that enables customers to pay using advanced facial recognition technology. Yum China first adopted the technology in its Hangzhou KPRO store in 2017 and has since rolled it out to more than 200 restaurants across China. After experiencing the in-store technologies at KFC and Pizza Hut, such as the self-ordering kiosk and table-side ordering, Governor Bevin was impressed by how digital is transforming the way people consume.
"Kentucky is famous for many things; Muhammad Ali, the Kentucky Derby, and Bourbon whisky, but what we are best known for is KFC," said Kentucky Governor Matt Bevin. "Yum China is an extraordinary company with such an incredible opportunity to tap into the growth potential that China still offers. Kentucky produces a lot of chicken, beef, and soy products and we would like to be able to help satisfy the tremendous needs in China."
Erran Persley, Executive Director of International Affairs and Business Development at the Kentucky Cabinet for Commerce and Trade, said that partnering with Yum China is important to the state. "We would welcome the opportunity to work with Yum China and the possible expansion of their Chinese brands into Kentucky."
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. 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" 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 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. 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 "Forward-Looking Statements" in our Annual Report on Form 10-K) 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 and East Dawning concepts outright. The Company had more than 8,300 restaurants in over 1,200 cities at the end of September 2018. For more information, please visit http://www.yumchina.com/en/
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