Pizza Hut celebrates 30th anniversary in China

Yum China Holdings, Inc. ("Yum China" or the "Company") (NYSE: YUMC and HKEX: 9987), China's largest restaurant company in terms of 2019 system sales, have held a series of activities across China to mark the 30th anniversary of Pizza Hut in the country. Pizza Hut's anniversary celebrations kicked off in December 2019 and culminated on the evening of September 10, when Shanghai's iconic Oriental Pearl Tower was illuminated by a special light show narrating the 30-year history of Pizza Hut in China. Similar activities have also taken place at landmarks in Chongqing, Fuzhou, Harbin, Nanjing and Qingdao.

"As one of Yum China's flagship brands, Pizza Hut was the first Western pizza brand to enter China and over the years has become Chinese people's leading choice for pizza," said Joey Wat, Chief Executive Officer of Yum China. "It's been an incredible journey and thanks to our employees, partners and loyal customers, Pizza Hut has been able to grow and thrive in China. In the future, with continued urbanization and consumption upgrading, I am confident that Pizza Hut will capture further growth opportunities and serve even more Chinese consumers."

To further commemorate the milestone, Pizza Hut has collaborated with Seagull, the manufacturer of China's first domestically made wristwatch, to launch branded commemorative watches. In addition, Pizza Hut welcomed consumers to join the celebrations by launching a special limited-time 30th anniversary all-you-can-eat promotion at restaurants across China.

Since opening its first China location in Beijing in 1990, Pizza Hut has grown to become the leading Western casual dining restaurant brand in China, both in terms of system sales and number of restaurants. By the end of June 2020, the brand had over 2,200 restaurants in more than 500 cities across the country. Pizza Hut has also achieved remarkable success in establishing digital ecosystem, membership recruitment and customer experience upgrades. By the end of June 2020, Pizza Hut had more than 75 million digital members and digital orders accounted for over 60% of sales for the first half of 2020.

Pizza Hut's brand identity of Always Something New demonstrates the brand's vision to stay fresh and relevant in a constantly changing marketplace. This concept is visible across Pizza Hut's new products, new and upgraded stores, enhanced dining experiences, promotional activities and creative collaborations. Pizza Hut launched more than 100 new and upgraded products each year since 2018 and is constantly making breakthroughs in its offline and online experience. Meanwhile, faced with the unprecedented challenges of the Covid-19 pandemic, Pizza Hut leveraged its deep market know-how to launch services that promoted social distancing including contactless delivery and take-out services and one-person dining options. In addition, in February 2020, Pizza Hut introduced an innovative new service model when it launched home delivery "Ready to Cook" steaks to customers.

Throughout its 30 years in China, Pizza Hut has remained committed to making a positive impact on society and giving back to the communities in which it operates. For example, Pizza Hut's "Grow Local Initiative" was launched in 2018 with the purpose of using its strengths to improve the livelihoods of local farmers and increase visibility of quality products from supported areas.

"Pizza Hut has grown alongside the Chinese market and witnessed many exciting milestones. Our 30th anniversary is not only a time to reflect on our achievements, but also an opportunity to look towards the future with optimism and excitement," said Jeff Kuai, General Manager of Pizza Hut China. "Looking forward to the next 30 years, we will continue to focus on great products, great service and great offline and online experiences that keep our customers coming back for more."