Guangda Securities: Maintains Buy rating on Yum China, the two core brands still have certain growth potential in channel sinking.

Guangda Securities released a research report stating that it maintains its net profit forecast for the years 2026-2027 for Yum China at 10.02/10.74 billion USD, equivalent to earnings per share of 2.53/2.77/2.97 USD for the years 2025-2027. The current stock price corresponds to a PE ratio of 17x/16x/15x for the years 2025-2027. The company is a leading Western fast food enterprise with strong digital and supply chain capabilities. Its two core brands still have growth potential in channel sinking. The "buy" rating is maintained.