SHANGHAI, Sept. 1,
2023 /PRNewswire/ -- Yum China Holdings, Inc. (NYSE:
YUMC and HKEX: 9987, "Yum China" or
the "Company") has unveiled a landmark accomplishment in its
efforts to reduce greenhouse gas (GHG) emissions. As of
July 2023, its company-owned
logistics center in Nanning, Guangxi province is completely powered by
renewable energy.
Based on the Company's market assessment, Yum China's Nanning logistics center stands out
as the first cold chain logistics center in China to fully operate on carbon-neutral
power. This achievement aligns with the Company's objective to
achieve net-zero value chain GHG emissions by 2050. Furthermore,
this shift to green energy operation was achieved without
increasing utility costs, further cementing Yum China's leadership in GHG emissions
reduction within the restaurant industry in China.
"The inauguration of our fully green-powered logistics center in
Nanning marks a significant milestone in Yum China's sustainability journey," said
Joey Wat, CEO of Yum China. "It's a meaningful achievement that
emphasizes our responsibility to our planet and showcases what's
possible for the future of our industry."
This milestone complements Yum
China's ongoing renewable energy transition efforts in its
restaurants and supporting facilities. By the end of 2023,
Yum China is estimated to have a
total annual green power consumption of about 10 million kWh,
encompassing logistics centers and restaurants within the Company's
operational control. Roughly 70 stores in Zhejiang, Anhui and Shanxi provinces are expected to complete a
full transition to green energy in the fourth quarter of 2023.
Utilizing a diverse range of green power trading models,
Yum China is accelerating renewable
energy adoption across its restaurants nationwide.
To meet increasing demands for renewable energy in the years to
come, Yum China plans to generate
its own power from distributed photovoltaics (DPV) while
supplementing with green power purchases. By 2025, all newly-built
Yum China logistics centers are
expected to use solar power generated from rooftop DPVs. Plans are
currently underway to install DPVs in the Company's Nanning
(Guangxi) logistics center and in
its upcoming Nanxiang (Shanghai)
logistics center. As in-house green energy production capability
increases, Yum China is bolstering
its energy storage capacity to optimize utilization. The Company
also has been driving low-carbon transformation across its entire
value chain through the launch of a Distributed Photovoltaic and
Virtual Green Power Purchase Alliance with 40 key suppliers in
May 2023.
These efforts collectively illustrate Yum China's steadfast approach to explore and
invest in affordable, reliable, and scalable renewable energy
opportunities to support its ongoing low-carbon transition.
Forward-Looking Statements
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. 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," "likely," "will," "should,"
"forecast," "outlook," "look forward to" 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
"Management's Discussion and Analysis of Financial Condition and
Results of Operations " in our Annual Report on Form 10-K and our
Quarterly Reports on Form 10-Q) for additional detail about factors
that could affect our financial and other results.
About Yum China Holdings, Inc.
Yum China is the largest
restaurant company in China with a
mission to make every life taste beautiful. The Company has over
400,000 employees and operates over 13,000 restaurants under six
brands across 1,900 cities in China. KFC and Pizza Hut are the leading
brands in the quick-service and casual dining restaurant spaces in
China, respectively. Taco Bell
offers innovative Mexican-inspired food. Yum China has also partnered with Lavazza to
develop the Lavazza coffee concept in China. Little Sheep and Huang Ji Huang specialize in Chinese cuisine.
Yum China has a world-class,
digitalized supply chain which includes an extensive network of
logistics centers nationwide and an in-house supply chain
management system. Its strong digital capabilities and loyalty
program enable the Company to reach customers faster and serve them
better. Yum China is a Fortune 500
company with the vision to be the world's most innovative pioneer
in the restaurant industry. For more information, please visit
http://ir.yumchina.com.
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SOURCE Yum China Holdings, Inc.