Everbright Securities: Yum China (09987) accelerates store openings, profit margin continues to improve; maintain "Buy" rating.

Zhitong Finance APP has learned that Everbright Securities issued a research report stating that it maintains its forecast for Yum China (09987)'s net profit attributable to parent for 2026-2028 at US$1.027/1.109/1.183 billion respectively, equivalent to 2026-2028 EPS of US$3.04/3.28/3.50 respectively. The current share price corresponds to 2026-2028 PE of 16x/15x/14x respectively. The company is a leading enterprise in Western fast food, with strong digitalization and supply chain capabilities, and its two core brands still have certain growth space in channel penetration. Maintain "Buy" rating.