FORM 2 - Corporate Substantial Shareholder Notice
Form Serial Number
:
CS20260805E00042
1.
Date of relevant event
:
31/07/2026
(dd/mm/yyyy)
2.
Date when the substantial shareholder becomes aware of the relevant event / interest in the shares (if later)
:
(dd/mm/yyyy)
3.
Stock code
:
09987
4.
Name of listed corporation
:
Yum China Holdings, Inc.
5.
Class of shares
:
Ordinary Shares
6.
Number of issued shares in class
:
343,150,072
7.
Name of substantial shareholder
:
BlackRock, Inc.
8.
Registered office
:
251 Little Falls Drive, Wilmington, DE 19808
9.
Principal place of business in Hong Kong
:
N/A
15.
Exchange on which listed
:
New York Stock Exchange
16.
Name of listed parent and exchange on which parent is listed
:
N/A
17.
Details of relevant event
:
Brief description of relevant event
Capacity in which shares were/are held
Number of shares bought/sold or involved
Currency of transaction
On Exchange
Off Exchange
Before relevant event
After relevant event
Highest price (per share)
Average price (per share)
Average consideration (per share)
Nature of consideration
Long position
1205
The percentage level of your interest in the shares has reduced because:
you ceased to have a security interest in the shares
2201
Interest of corporation controlled by you
2201
Interest of corporation controlled by you
550,737
HKD
3102
Assets other than cash
Short position
18.
Total shares immediately before the relevant event
:
Total number of shares
Percentage figure (%)
Long position
21,110,696
6.15
Short position
443,602
0.13
19.
Total shares immediately after the relevant event
:
Total number of shares
Percentage figure (%)
Long position
20,559,959
5.99
Short position
443,602
0.13
20.
Capacity in which interests disclosed in Box 19 are held
:
Capacity code
Number of shares
2201
Interest of corporation controlled by you
Long position
20,559,959
Short position
443,602
21.
Further information in respect of derivative interests
:
Derivatives code
Number of shares
4106
Unlisted derivatives - Cash settled
Long position
864,236
Short position
391,117
22.
Further information in relation to interests of corporations controlled by substantial shareholder
:
Name of controlled corporation
Address and place of incorporation
Name of controlling person
% control
Direct interest (Y/N)
Number of shares
BlackRock Finance, Inc.
251 Little Falls Dr, Wilmington, DE 19808
BlackRock, Inc.
100.00
N
Long position
20,559,959
Short position
443,602
Trident Merger, LLC
251 Little Falls Dr, Wilmington, DE 19808
BlackRock Finance, Inc.
100.00
N
Long position
477,831
BlackRock Investment Management, LLC
251 Little Falls Dr, Wilmington, DE 19808
Trident Merger, LLC
100.00
N
Long position
265,606
BlackRock Investment Management, LLC
251 Little Falls Dr, Wilmington, DE 19808
Trident Merger, LLC
100.00
Y
Long position
206,292
BlackRock Holdco 2, Inc.
251 Little Falls Dr, Wilmington, DE 19808
BlackRock Finance, Inc.
100.00
N
Long position
20,082,128
Short position
443,602
BlackRock Financial Management, Inc.
251 Little Falls Dr, Wilmington, DE 19808
BlackRock Holdco 2, Inc.
100.00
N
Long position
19,358,248
Short position
204,333
BlackRock Financial Management, Inc.
251 Little Falls Dr, Wilmington, DE 19808
BlackRock Holdco 2, Inc.
100.00
Y
Long position
723,880
Short position
239,269
BlackRock Holdco 4, LLC
251 Little Falls Dr, Wilmington, DE 19808
BlackRock Financial Management, Inc.
100.00
N
Long position
10,898,212
Short position
35,406
BlackRock Holdco 6, LLC
251 Little Falls Dr, Wilmington, DE 19808
BlackRock Holdco 4, LLC
90.00
N
Long position
10,898,212
Short position
35,406
BlackRock Delaware Holdings Inc.
251 Little Falls Dr, Wilmington, DE 19808
BlackRock Holdco 6, LLC
100.00
N
Long position
10,898,212
Short position
35,406
BlackRock Institutional Trust Company, National Association
1225 17th Street, Suite 300, Denver, CO 80202 (Colorado, USA)
BlackRock Delaware Holdings Inc.
100.00
Y
Long position
4,125,831
Short position
35,406
BlackRock Fund Advisors
400 Howard Street San Francisco, CA 94105, United States (California, USA)
BlackRock Delaware Holdings Inc.
100.00
Y
Long position
6,772,381
BlackRock Capital Holdings, Inc.
251 Little Falls Dr, Wilmington, DE 19808
BlackRock Financial Management, Inc.
100.00
N
Long position
3,250
BlackRock Advisors, LLC
251 Little Falls Dr, Wilmington, DE 19808
BlackRock Capital Holdings, Inc.
100.00
Y
Long position
3,250
BlackRock International Holdings, Inc.
251 Little Falls Dr, Wilmington, DE 19808
BlackRock Financial Management, Inc.
100.00
N
Long position
8,456,786
Short position
168,927
BR Jersey International Holdings L.P.
13 Castle Street, St. Helier, Jersey, Channel Islands JE4 5UT (Jersey)
BlackRock International Holdings, Inc.
86.00
N
Long position
8,147,101
Short position
168,927
BlackRock Lux Finco S.à r.l.
1st Floor, 35a Avenue J.F. Kennedy, L-1855 Luxembourg
BlackRock HK Holdco Limited
100.00
N
Long position
274,706
BlackRock Japan Holdings GK
Marunouchi Trust Tower Main, 1-8-3 Marunouchi, Chiyoda-ku, Tokyo 100-8217 (Japan)
BlackRock Lux Finco S.à r.l.
100.00
N
Long position
274,356
BlackRock Japan Co., Ltd.
Marunouchi Trust Tower Main, 1-8-3 Marunouchi, Chiyoda-ku, Tokyo 100-8217 (Japan)
BlackRock Japan Holdings GK
100.00
Y
Long position
274,356
BlackRock Holdco 3, LLC
251 Little Falls Dr, Wilmington, DE 19808
BR Jersey International Holdings L.P.
100.00
N
Long position
6,570,383
Short position
168,927
BlackRock Canada Holdings ULC
161 Bay Street, Suite 2500, Toronto, Ontario M5J 2S1, Canada (Ontario, Canada)
BlackRock International Holdings, Inc.
100.00
N
Long position
309,685
BlackRock Asset Management Canada Limited
161 Bay Street, Suite 2500, Toronto, Ontario M5J 2S1, Canada (Ontario, Canada)
BlackRock Canada Holdings ULC
100.00
Y
Long position
309,685
BlackRock Australia Holdco Pty. Ltd.
Level 12, 33 Alfred Street, Sydney, NSW 2000
BR Jersey International Holdings L.P.
100.00
N
Long position
79,503
BlackRock Investment Management (Australia) Limited
Level 12, 33 Alfred Street, Sydney, NSW 2000
BlackRock Australia Holdco Pty. Ltd.
100.00
Y
Long position
79,503
BlackRock (Singapore) Holdco Pte. Ltd.
20 Anson Road #18-01 079912 Singapore (Singapore)
BR Jersey International Holdings L.P.
100.00
N
Long position
1,497,215
BlackRock HK Holdco Limited
13th Floor, One Pacific Place, 88 Queensway, Hong Kong (Hong Kong)
BlackRock (Singapore) Holdco Pte. Ltd.
100.00
N
Long position
1,073,148
BlackRock Asset Management North Asia Limited
15/F, 16/F, 17/F Champion Tower & 17/F ICBC Tower, 3 Garden Road, Central, Hong Kong
BlackRock HK Holdco Limited
100.00
Y
Long position
798,442
BlackRock Cayman 1 LP
c/o Walkers Corporate Limited, Cayman Corporate Centre, 27 Hospital Road, George Town, Grand Cayman KY1-9008
BlackRock Holdco 3, LLC
100.00
N
Long position
6,570,383
Short position
168,927
BlackRock Cayman West Bay Finco Limited
c/o Walkers Corporate Limited, Cayman Corporate Centre, 27 Hospital Road, George Town, Grand Cayman KY1-9008
BlackRock Cayman 1 LP
100.00
N
Long position
6,570,383
Short position
168,927
BlackRock Cayman West Bay IV Limitied
c/o Walkers Corporate Limited, Cayman Corporate Centre, 27 Hospital Road, George Town, Grand Cayman KY1-9008
BlackRock Cayman West Bay Finco Limited
100.00
N
Long position
6,570,383
Short position
168,927
BlackRock Group Limited
12 Throgmorton Avenue. London, EC2N 2DL, United Kingdom (England & Wales, United Kingdom)
BlackRock Cayman West Bay IV Limitied
90.00
N
Long position
6,570,383
Short position
168,927
BlackRock Finance Europe Limited
12 Throgmorton Avenue. London, EC2N 2DL, United Kingdom (England & Wales, United Kingdom)
BlackRock Group Limited
100.00
N
Long position
2,219,449
BlackRock (Netherlands) B.V.
Rembrandt Tower, 17th floor, Amstelplein, Amsterdam Netherlands (Amsterdam, Netherlands)
BlackRock Finance Europe Limited
100.00
N
Long position
11,696
BlackRock (Netherlands) B.V.
Rembrandt Tower, 17th floor, Amstelplein, Amsterdam Netherlands (Amsterdam, Netherlands)
BlackRock Finance Europe Limited
100.00
Y
Long position
791,109
BlackRock Advisors (UK) Limited
12 Throgmorton Avenue. London, EC2N 2DL, United Kingdom (England & Wales, United Kingdom)
BlackRock Finance Europe Limited
100.00
Y
Long position
7,450
BlackRock International Limited
Exchange Place One, 1 Semple Street, Edinburgh, EH3 8BL, United Kingdom (Scotland, United Kingdom)
BlackRock Group Limited
100.00
N
Long position
31,104
BlackRock Group Limited-Luxembourg Branch
35 A, avenue J.F. Kennedy L-1855 Luxembourg
BlackRock Group Limited
100.00
N
Long position
4,319,830
Short position
168,927
BlackRock Luxembourg Holdco S.à r.l.
35 A, avenue J.F. Kennedy L-1855 Luxembourg
BlackRock Group Limited-Luxembourg Branch
100.00
N
Long position
4,319,830
Short position
168,927
BlackRock Investment Management Ireland Holdings Unlimited Company
1st Floor, 2 Ballsbridge Park, Ballsbridge, Dublin 4, D04 YW83, Ireland
BlackRock Luxembourg Holdco S.à r.l.
100.00
N
Long position
4,274,915
BlackRock Asset Management Ireland Limited
1st Floor, 2 Ballsbridge Park, Ballsbridge, Dublin 4, D04 YW83, Ireland
BlackRock Investment Management Ireland Holdings Unlimited Company
100.00
Y
Long position
4,274,915
BLACKROCK (Luxembourg) S.A.
35 A, avenue J.F. Kennedy L-1855 Luxembourg
BlackRock Luxembourg Holdco S.à r.l.
100.00
Y
Long position
40,456
Short position
168,927
BlackRock Investment Management (UK) Limited
12 Throgmorton Avenue. London, EC2N 2DL, United Kingdom (England & Wales, United Kingdom)
BlackRock Finance Europe Limited
100.00
N
Long position
615,797
BlackRock Investment Management (UK) Limited
12 Throgmorton Avenue. London, EC2N 2DL, United Kingdom (England & Wales, United Kingdom)
BlackRock Finance Europe Limited
100.00
Y
Long position
793,397
BlackRock (Netherlands) B.V. – German Branch – Frankfurt BlackRock
Bockenheimer Landstraße 2-4, 60306, Frankfurt am Main, Germany
BlackRock (Netherlands) B.V.
100.00
N
Long position
11,696
BlackRock Asset Management Deutschland AG
Lenbachplatz 1 1st Floor,Munich, 80333-MN3, Germany
BlackRock (Netherlands) B.V. – German Branch – Frankfurt BlackRock
100.00
Y
Long position
11,696
BlackRock Fund Managers Limited
12 Throgmorton Avenue. London, EC2N 2DL, United Kingdom (England & Wales, United Kingdom)
BlackRock Investment Management (UK) Limited
100.00
Y
Long position
615,797
BlackRock Life Limited
12 Throgmorton Avenue. London, EC2N 2DL, United Kingdom (England & Wales, United Kingdom)
BlackRock International Limited
100.00
Y
Long position
31,104
BlackRock (Singapore) Limited
20 Anson Road #18-01 079912 Singapore (Singapore)
BlackRock (Singapore) Holdco Pte. Ltd.
100.00
Y
Long position
424,067
BlackRock UK Holdco Limited
12 Throgmorton Avenue. London, EC2N 2DL, United Kingdom (England & Wales, United Kingdom)
BlackRock Luxembourg Holdco S.à r.l.
100.00
N
Long position
4,459
BlackRock Asset Management Schweiz AG
Bahnhofstrasse 39 8001 Zurich, Switzerland (Switzerland)
BlackRock UK Holdco Limited
100.00
Y
Long position
4,459
BlackRock Investment Management (Taiwan) Limited
No.100, Songred Rd., Xinyi Dist., Taipei City 11073, Taiwain.
BlackRock Lux Finco S.à r.l.
100.00
Y
Long position
350
EG Holdings Blocker, LLC
251 Little Falls Dr, Wilmington, DE 19808
BlackRock Investment Management, LLC
100.00
N
Long position
265,606
Amethyst Intermediate, LLC
251 Little Falls Dr, Wilmington, DE 19808
BlackRock Investment Management, LLC
100.00
N
Long position
265,606
Aperio Holdings, LLC
251 Little Falls Dr, Wilmington, DE 19808
Amethyst Intermediate, LLC
60.00
N
Long position
265,606
Aperio Holdings, LLC
251 Little Falls Dr, Wilmington, DE 19808
EG Holdings Blocker, LLC
40.00
N
Long position
265,606
Aperio Group, LLC
2710 Gateway Oaks Drive, Suite 150N, Sacramento, CA 95833-3505
Aperio Holdings, LLC
100.00
Y
Long position
265,606
Web Holdings, LLC
251 Little Falls Dr, Wilmington, DE 19808
Trident Merger, LLC
100.00
N
Long position
5,933
SpiderRock Advisors, LLC
251 Little Falls Dr, Wilmington, DE 19808
Web Holdings, LLC
100.00
Y
Long position
5,933
23.
Further information in relation to interests held by substantial shareholder jointly with another person
:
Name of joint shareholder
Address
Number of shares
24.
Further information from a trustee, a beneficiary of a trust, or a person who set up a discretionary trust
:
Names of trust
Address
Status code
Number of shares
25.
Further information from a party to an agreement under Section 317 (Please see Notes for further information required)
:
Names of other parties
Address
Number of shares
Total number of shares in which a substantial shareholder is interested under sections 317 and 318
26.
Details of person(s) in accordance with whose directions the substantial shareholder or its directors are accustomed to act
:
Names
Address
Relationship Code
Percentage (%)
27.
Supplementary information
:
28.
Log/Serial Number of the previous form
:
29.
Number of concert party document(s) under section 317 attached/uploaded
:
Date of filing this Form 2
:
05/08/2026
(dd/mm/yyyy)