Yum China Holdings Inc. has published the transcript of its third-quarter 2025 earnings conference call. The event, held on November 4, 2025, featured key members of management including the Chief Executive Officer, Chief Financial Officer, and Senior Director of Investor Relations, along with participation from analysts representing firms such as Goldman Sachs, Oppenheimer & Co., Bank of America Merrill Lynch, Morgan Stanley, CICC, Citibank, UBS, and Macquarie Group. During the call, management highlighted Yum China's continued growth momentum in the third quarter, with system sales rising 4% year-over-year, outpacing the broader China restaurant industry. The CEO noted, "Building on our first-half momentum, we achieved another solid Q3-accelerating store openings, driving growth in both same-store and system sales, and expanding margins. Delivering growth across all three dimensions was no easy task, but we made it happen." Other key topics included the introduction of new menu items, such as a thin dough pizza at Pizza Hut, and the company's focus on operational efficiency and strategic expansion. The call concluded with a reminder to investors about the use of non-GAAP financial measures and the availability of additional materials and a webcast replay on the company's Investor Relations website. The full transcript can be accessed through the link below.