Yum China Holdings, Inc. is China’s leading restaurant company with a vision of becoming the world’s most innovative pioneer in restaurant industry. From a single restaurant in 1987, the company operates over 8,400 restaurants in over 1,200 cities and towns spanning every province and autonomous region across mainland China as of the end of 2018. Yum China (YUMC) became an independent, publicly-traded business company on November 1, 2016. Following our separation from Yum! Brands, we now have the exclusive right to operate and sub-license the KFC, Pizza Hut and Taco Bell brands in China, and we own the East Dawning, Little Sheep and COFFii & JOY concepts outright. Over the past three decades, we have become a leading restaurant business in China, not just in terms of our footprint, but also in brand awareness, social media and digital engagement, national supply chain management, product quality and innovation. Our more than 450,000 employees are the backbone of our business and our experienced management team continue to foster a culture that is based on energy, opportunity and fun. We build strong consumer loyalty by developing menus that cater to local tastes in addition to offering global favorites like KFC's Original Recipe chicken. Each of our brands has proprietary menu items, many developed in China, as well as unique recipes and special seasonings to provide tasty and convenient food, all made with many high quality ingredients. With decades of accumulated consumer knowhow and loyalty in China, our brands are integrated into popular culture and consumers' daily lives. We are dedicated to serving our customers’ evolving needs by enhancing the in-store experience, improving mobile connectivity, introducing innovative new products, and constantly delivering value. With a rapidly growing consumer class and increasing urbanization, Yum China is well positioned for long term growth.