HK Stock Market Move | Yum China (09987) surged nearly 15% in early trading after its performance report, with a net profit of 827 million US dollars in 23 years, an 87% year-on-year increase.

YUM CHINA (09987) surged nearly 15% in early trading after its earnings report, reaching a high of 333.40 Hong Kong dollars, up 14.97%, with a trading volume of 10.97 million Hong Kong dollars. On the news front, YUM CHINA announced its financial performance for the fourth quarter and full year of 2023. In the fourth quarter of 2023, total revenue increased by 19% to $2.49 billion (or 21% growth excluding the impact of foreign exchange). Operating profit rose by 170% to $110 million. Core operating profit increased by 324%. Net profit was $97 million, up 81% year-on-year. Diluted earnings per share were $0.23. For the full year of 2023, total revenue increased by 15% to $10.98 billion (or 21% growth excluding the impact of foreign exchange). Operating profit rose by 76% to $1.1 billion. Core operating profit increased by 79%. Net profit was $827 million, up 87% year-on-year. Diluted earnings per share were $1.97. Additionally, in the fourth quarter, the company increased its share buyback program, repurchasing a total of 7.5 million common shares for $336 million. In 2023, the company repurchased a total of 12.4 million common shares, representing approximately 3% of the company's outstanding common shares. As of December 31, 2023, the company still has approximately $1.5 billion in repurchase authorization available for future share buybacks.