GIC Private Ltd. Maintains Stake in Yum China Holdings

TL;DR

**GIC Private Ltd. still holds Yum China stock, signaling long-term confidence.**

AI Summary

GIC Private Limited, a Singaporean sovereign wealth fund, filed an amended SC 13G/A on February 8, 2024, indicating its ownership in Yum China Holdings, Inc. as of December 31, 2023. This filing updates their previous disclosure, confirming their continued significant, though passive, investment in the company. This matters to investors because GIC's sustained stake suggests confidence in Yum China's long-term prospects, potentially signaling stability for the stock.

Why It Matters

GIC Private Limited's continued investment in Yum China Holdings, Inc. signals a vote of confidence from a major institutional investor, which can reassure current and potential shareholders about the company's stability and future outlook.

Risk Assessment

Risk Level: low — This filing is a routine update from a passive investor and does not indicate any immediate risks or changes to the company's operations.

Analyst Insight

A smart investor would view GIC's continued passive stake as a sign of stability, but would still conduct their own due diligence on Yum China's financials and market position rather than relying solely on institutional ownership.

Key Players & Entities

• GIC Private Limited (company) — the reporting person and a major institutional investor
• Yum China Holdings, Inc. (company) — the subject company, a retail-eating places business
• December 31, 2023 (date) — the date of the event requiring the filing
• February 8, 2024 (date) — the filing date of the SC 13G/A

Forward-Looking Statements

• GIC Private Limited will maintain its passive investment in Yum China Holdings, Inc. for the foreseeable future. (GIC Private Limited) — high confidence, target: December 31, 2024

FAQ

Key Financial Figures

• $0.01 — , Inc. (Name of Issuer) Common Stock, $0.01 par value (Title of Class of Securitie

Filing Documents

• ef20021175_sc13ga.htm (SC 13G/A) — 57KB
• 0001140361-24-006501.txt ( ) — 58KB

(a)

Item 1(a) Name of Issuer Yum China Holdings, Inc.

(b)

Item 1(b) Address of Issuer's Principal Executive Offices 101 East Park Boulevard Suite 805 Plano, Texas 75074

(a)

Item 2(a) Name of Persons Filing GIC Private Limited ("GIC")

(b)

Item 2(b) Address of Principal Business Office or, if none, Residence 168 Robinson Road #37-01 Capital Tower Singapore 068912

(c)

Item 2(c) Citizenship GIC Private Limited – Republic of Singapore

(d)

Item 2(d) Title of Class of Securities Common Stock, $0.01 par value

(e)

Item 2(e) CUSIP Number 98850P109 I tem 3 If this statement is filed pursuant to 240.13d-1(b), or 13d-2(b) or (c), check whether the person filing is a: Not applicable. Item 4 Ownership (a - c) The aggregate number of securities and percentage of the class of securities of the Issuer beneficially owned by the Reporting Person named in Item 2(a), as well as the number of securities as to which such person is deemed to have sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition, and shared power to dispose or direct the disposition, is set forth in the following tables: Reporting Person No. of Securities Beneficially Owned Percent of Class (3) Voting Power Dispositive Power Sole (1), (2) Shared (1), (2) Sole (1), (2) Shared (1), (2) GIC Private Limited 21,749,837 5.35 17,569,557 4,180,280 17,569,557 4,180,280 SCHEDULE 13G CUSIP No. 98850P109 Page 4 of 5 Pages (1) GIC is a fund manager and only has 2 clients – the Government of Singapore ("GoS") and the Monetary Authority of Singapore ("MAS"). Under the investment management agreement with GoS, GIC has been given the sole discretion to exercise the voting rights attached to, and the disposition of, any shares managed on behalf of GoS. As such, GIC has the sole power to vote and power to dispose of the 17,569,557 securities beneficially owned by it. GIC shares power to vote and dispose of 4,180,280 securities beneficially owned by it with MAS. GIC is wholly-owned by the GoS and was set up with the sole purpose of managing Singapore's foreign reserves. The GoS disclaims beneficial ownership of such shares. (2) GIC disclaims membership in a group. (3) Based on 406,458,688 shares of Common Stock outstanding as of January 23, 2024, according to the "Next Day Disclosure Return" filed by the Issuer with the Hong Kong Exchanges and Clearing Limited ("HKEX") on January 24, 2024. Item 5 Ownership of Fiv