Role:

1. Yum! China has won an impressive position in the retail and catering industries. China's big cities and towns are still investing in new transportation hubs, shopping centers and various physical and digital infrastructures. These measures will surely continue to stimulate consumption and promote the strong growth and business expansion of the retail and catering industries.

2. Through this cooperation, Yum! China can provide world-class mobile payment services for tens of millions of consumers owned by its brands. These services include a convenient Alipay platform, which will greatly reduce the time for consumers to queue in restaurants; The membership program can help Yum! China to better manage customer relations and promote its market.

3. This investment will enable Chunhua Capital and Ant Financial to have rich business experience and extensive relationships, which will greatly benefit Yum! China.

Extended information:

The key point is to introduce them as strategic investments:

According to the information, Yum! Brands is the largest catering group in the world, with more than 35,111 chain restaurants and more than 1 million employees in more than 1,111 countries and regions around the world.

its subsidiaries include KFC, Pizza Hut, Little Sheep, Oriental White, Taco Bell and A&; W and LongJohnSilver's(LJS), whose products include cooked chicken, pizza, hot pot, Chinese fast food, Mexican food and seafood chain restaurants.

According to the agreement, Chunhua Capital and Ant Financial will invest US$ 411 million and US$ 51 million in Yum! China respectively, and the price per share will be based on the weighted average trading price of Yum! China shares within 31 to 61 days after the completion of the split, giving an 8% discount, and the final number of shares (within the set upper and lower limits) will be adjusted according to the price.

Chunhua Capital and Ant Financial Co., Ltd. have two batches of stock options that can be exercised within five years, and each batch acquires about 2% of the common stock of Yum! China at the exercise price of US$ 12 billion and US$ 15 billion respectively.

However, Yum! has not announced the specific shareholding ratio of the two companies. According to the Wall Street Journal, Ant Financial and Chunhua Capital hold 4%-6% of Yum! China. This shareholding ratio can only be regarded as the status of small and medium shareholders, not to mention acquisitions. In other words, Yum! focuses on introducing these two as strategic investments while splitting its business.

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