Yum China Holdings, Inc. (the “Company”) has filed an application with The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”) in connection with a proposed secondary listing (the “Listing”) of its common stock, par value $0.01 per share (“Common Stock”), on the Main Board of the Hong Kong Stock Exchange together with a Hong Kong initial public offering and an international offering (together, the “Global Offering”) of the Common Stock.
The Listing application contains supplemental descriptions and additional new descriptions of certain aspects of the Company’s business and financial information as required by the Hong Kong Stock Exchange Listing Rules as well as updated disclosure of certain information previously disclosed in the Company’s annual reports on Form 10-K for the years ended December 31, 2019, 2018 and 2017 and quarterly reports on Form 10-Q for the quarter ended June 30, 2020. Exhibit 99.1, the contents of which are incorporated herein by reference, sets forth certain new, supplemental and updated information and disclosures relating to the years ended December 31, 2019, 2018 and 2017 as described therein, as well as certain information about the Global Offering. Exhibit 99.2, the contents of which are incorporated herein by reference, contains the Company’s consolidated financial statements for the six months ended June 30, 2020 and 2019. The disclosures set forth in Exhibits 99.1 and 99.2 should be read in conjunction with the disclosures in the Company’s annual report on Form 10-K for the year ended December 31, 2019, quarterly reports on Form 10-Q for the quarters ended March 31, 2020 and June 30, 2020, and other reports filed with the Securities and Exchange Commission.
The Company is issuing this current report on Form 8-K in order to provide investors with certain disclosures made in connection with the Listing and the Global Offering, including the consolidated financial statements of the Company for the six months ended June 30, 2020 and 2019 included in Exhibit 99.2. This information in no way revises or restates the Company’s previously reported financial statements for any period, including the information in the Company’s quarterly report on Form 10-Q for the quarter ended June 30, 2020. This information should be read in conjunction with the Company’s previously filed reports.
Although the Company has applied for a secondary listing on the Hong Kong Stock Exchange, it expects that the New York Stock Exchange will continue to be its primary listing venue. The Company has also applied for a number of waivers and/or exemptions from strict compliance with the Hong Kong Stock Exchange Listing Rules. If these applications are approved, the Company would be exempted from certain requirements to which other companies listed on the Hong Kong Stock Exchange are subject.
There is no assurance as to if or when the Listing and Global Offering will take place. This communication is neither an offer to sell nor a solicitation of an offer to buy, nor shall there be any offer, solicitation or sale of our securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
