SHANGHAI, Nov. 2, 2023 /PRNewswire/ — Yum China Holdings, Inc. (the "Company" or "Yum China") (NYSE: YUMC and HKEX: 9987) today reported that its Board of Directors (the "Board") has increased the Company’s share repurchase authorization by $1 billion to an aggregate of $3.4 billion.

From 2017 to November 1, 2023, the Company repurchased approximately 36 million shares of common stock for $1.6 billion. This increase brings the total remaining authorization to approximately $1.8 billion.

"The Board’s approval to expand our share repurchase program aligns with our capital allocation plan we articulated during our Investor Day in September —— to return $3 billion to shareholders through dividends and share repurchases from 2024 to 2026. Over the past three years, we have fortified our resilience, strengthened our competitive position, and laid the foundation for future growth. With the recent launch of our ‘RGM 2.0’ strategy, we are confident in our capabilities to harness the vast growth opportunities China continues to offer," said Joey Wat, CEO of Yum China. "Bolstered by our strong balance sheet and robust cash flow generating capabilities, we are well-positioned to effectively balance operational needs, invest for long-term growth and return capital to shareholders."

Yum China may repurchase shares under this authorization from time to time in the open market or, subject to applicable regulatory requirements, through privately negotiated transactions, block trades, accelerated share repurchase transactions and the use of Rule 10b5-1 trading plans. The authorization has no expiration date.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the Company’s business strategy and capital allocation strategy. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as "goal," "expect," "expectation," "believe," "anticipate," "may," "could," "intend," "belief," "plan," "estimate," "target," "predict," "project," "likely," "will," "continue," "should" or similar terminology. These statements are based on current estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate and reasonable under the circumstances, but there can be no assurance that such estimates and assumptions will prove to be correct. Forward-looking statements include, without limitation, statements regarding goal for shareholder return through dividends and share repurchases. Forward-looking statements are not guarantees of performance and are inherently subject to known and unknown risks and uncertainties that are difficult to predict and could cause our actual results or events to differ materially from those indicated by those statements. We cannot assure you that any of our expectations, estimates or assumptions will be achieved. The forward-looking statements included in this press release are only made as of the date of this press release, and we disclaim any obligation to publicly update any forward-looking statement to reflect subsequent events or circumstances, except as required by law. Numerous factors could cause our actual results or events to differ materially from those expressed or implied by forward- looking statements. In addition, other risks and uncertainties not presently known to us or that we currently believe to be immaterial could affect the accuracy of any such forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. You should consult our filings with the SEC (including the information set forth under the captions "Risk Factors" and "Management’s Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q) for additional detail about factors that could affect our financial and other results.

About Yum China Holdings, Inc.

Yum China is the largest restaurant company in China with a mission to make every life taste beautiful. The Company has over 400,000 employees and operates over 14,000 restaurants under six brands across 1,900 cities in China. KFC and Pizza Hut are the leading brands in the quick-service and casual dining restaurant spaces in China, respectively. Taco Bell offers innovative Mexican-inspired food. Yum China has also partnered with Lavazza to develop the Lavazza coffee concept in China. Little Sheep and Huang Ji Huang specialize in Chinese cuisine. Yum China has a world-class, digitalized supply chain which includes an extensive network of logistics centers nationwide and an in-house supply chain management system. Its strong digital capabilities and loyalty program enable the Company to reach customers faster and serve them better. Yum China is a Fortune 500 company with the vision to be the world’s most innovative pioneer in the restaurant industry. For more information, please visit http://ir.yumchina.com.

Investor Relations Contact:
Tel: +86 21 2407 7556 /+852 2267 5801
[email protected]

Media Contact:
Tel: +86 21 2407 7510
[email protected]

Source : Yum China Expands Share Repurchase Authorization by $1 Billion

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SHENZHEN, China, Nov. 2, 2023 /PRNewswire/ — On November 2, 2023, BAIYU Holdings, Inc. (NASDAQ: BYU) (the "company") is pleased to announce its expansion of the company’s primary business operations. The company is expected to invest in fast charging stations and commercial machine stations, and provide customers with integrated new energy solutions and operations include photovoltaic systems, energy storage power and fast charging stations.

At present, the company is actively expanding its presence in the field of photovoltaic, energy storage power, fast charging stations, and the operation services within the new energy industry. The company adheres to its commitment to excellence in overall operation and maintenance, prioritizing quality, safety, reliability, and efficient service, and providing safer, more convenient and reliable green new energy power service for global quality customers. The Company aims to provide all-round solutions and operations for global new energy storage systems and specialized application fields. The company takes new energy as the main body and new integrated power systems as the development direction. Committed to the fields of new energy systems such as "clean energy, new energy, smart power, smart photovoltaic, fast charging station network operation and maintenance", the company is expected to cooperate with new energy services such as photovoltaic, energy storage, electric power, charging piles and microgrid to provide customers with one-stop integrated power and energy services from design planning, integrated system, efficient operation, intelligent operation and maintenance to upgrading and transformation.

Ms. Ouyang Renmei, CEO of the company, emphasized, "under the background of dual carbon, our company will fully expand the new energy power industry in the future, help the process of global carbon neutrality, and enter the new energy power, photovoltaic and fast charging industries, which is anticipated to improve our company’s performance, enhance corporate value and contribute to our growth as a notable corporate brand."

Safe Harbor Statement

This press release may contain certain "forward-looking statements" relating to the business of BAIYU Holdings, Inc. and its subsidiary companies. All statements, other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" "anticipates", or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: there is uncertainty about the spread of the COVID-19 virus and the impact it will have on the Company’s operations; the demand for the Company’s products and services, global supply chains and economic activity in general; the occurrence of any event, change or other circumstances; and other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission by BAIYU Holdings, Inc. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Source : BAIYU Holdings, Inc. Announces Its Entry into the Network Layout of Photovoltaic, Energy Storage Power and Fast Charging Stations, and New Energy Industry Operation Service Business

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This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

BEIJING, Nov. 2, 2023 /PRNewswire/ — The 21st Shandong Qixia apple art festival and the 2023 China farmers harvest festival opened at the cultural square in Qixia City, east China’s Shandong Province on October 26 to celebrate the apple harvest in the city.

Zhao Yonggang, party chief of Qixia, attended the event and delivered a speech and Zang Lei, acting mayor of Qixia, presided over the opening ceremony. Representatives from arts, sports, e-commerce platforms, fruit distributors, enterprises, tourism industry, as well as a large number of fruit farmers, also participated in the event.

During the event, Zhao Yonggang awarded the outstanding contributor to the apple industry while other municipal leaders awarded model apple farmers. Six high-quality apple development projects were also signed collectively. A cold chain logistics base, a fruit trade measure research and evaluation base and an e-commerce love streaming base for apple industry were unveiled accordingly.

"Qixia, as the main production area of Yantai apples, is a city lifted by apples. Apples not only carry the expectations of Qixia fruit farmers for a happy life, but also bear the beautiful wishes of the people of the city of fruits for peace, reunion, and health of thousands of families," said Zhao Yonggang.

In order to enhance the city image, the event takes actions to expand online and offline sales channels and intensify comprehensive marketing and promotion of the apple brand, and further promote apple sales and trade cooperation.

During an one-month period, the event will successively hold a series of activities such as apple culture theme hand-made boutique exhibition, Qixia autumn tour and Qixia investment promotion conference.

See the original link: https://en.imsilkroad.com/p/336882.html

Source : Xinhua Silk Road: Apple art festival kicks off in Qixia, E China's Shandong to celebrate apple harvest

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This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

– BRAFTOVI® (encorafenib) + MEKTOVI® (binimetinib) shows meaningful clinical benefit in adult patients with BRAFV600-mutant advanced NSCLC

– The application is based on results from the PHAROS study,[1] which showed an objective response rate of 75% in treatment-naïve patients and 46% in previously treated patients

– If approved, the new indication for BRAFTOVI® (encorafenib) + MEKTOVI® (binimetinib) will be a potential new treatment option for adult patients with BRAFV600-mutant advanced NSCLC

CASTRES, France, Nov. 2, 2023 /PRNewswire/ —

Intended for international media only / not intended for UK- and US-based media

Pierre Fabre Laboratories announced today that the European Medicines Agency (EMA) validated the submission for BRAFTOVI® (encorafenib) + MEKTOVI® (binimetinib) for the treatment of adult patients with BRAFV600-mutant advanced non-small cell lung cancer (NSCLC), who are either treatment naïve or have received prior therapy.

The submission is based on the results from the registrational PHAROS study,[1] which by independent review, showed an objective response rate (ORR) of 75% in treatment-naïve patients, with 59% maintaining a response for at least 12 months, and 46% in previously treated patients.[1]

"Lung cancer is the number one cause of cancer death worldwide,[2] and there are currently limited effective targeted treatment options for patients with BRAFV600-mutant advanced NSCLC. With our strategic focus on lung cancer and oncology precision medicine, this submission is the next step in delivering clinically meaningful change to oncology patient populations with high unmet needs," said Eric Ducournau, Chief Executive Officer of Pierre Fabre Laboratories.

The Phase 2 PHAROS trial[1] showed that one 450mg daily dose of BRAFTOVI® and two 45mg daily doses of MEKTOVI®[1] provided a meaningful clinical benefit for these patients with an ORR of 75% (95% CI: 62, 85) in treatment-naïve patients (n=59), with 59% of them maintaining a response for at least 12 months. For those patients who had received prior therapy (n=39), the ORR was 46% (95% CI: 30, 63), with 33% maintaining a response for at least 12 months. Median progression-free survival (PFS) was not reached at data cut-off for the treatment-naïve group (95% CI: 15.7, NE) and 9.3 months (95% CI: 6.2, NE) for the previously treated group. Median overall survival (OS) was not reached for either subgroup at the time of data cut-off. The most common treatment-related adverse events observed in the PHAROS trial were nausea (50%), diarrhoea (43%), fatigue (32%) and vomiting (29%).

These findings were simultaneously published in the Journal of Clinical Oncology and presented during the American Society of Clinical Oncology (ASCO) congress on 4 June 2023.[1] 

BRAFTOVI® + MEKTOVI® are currently approved in Europe for the treatment of adult patients with unresectable or metastatic melanoma with a BRAFV600 mutation.[3],[4] BRAFTOVI® in combination with cetuximab is also approved in Europe for the treatment of adult patients with metastatic colorectal cancer (mCRC) with a BRAFV600E mutation who have received prior systemic therapy.[3]

About PHAROS

PHAROS (NCT03915951) is an ongoing, open-label, multicentre, non-randomised Phase 2 study to determine the efficacy and safety of BRAFTOVI® + MEKTOVI® in 98 patients with BRAFV600E-mutant metastatic NSCLC. Mutations were identified using next-generation sequencing or polymerase chain reaction tests performed at the patient’s local laboratory. The primary endpoint is confirmed ORR per RECIST v1.1, by independent radiology review (IRR); secondary objectives comprise additional efficacy endpoints including DoR, PFS, and OS as well as safety. The trial is being conducted across 56 sites in: Italy, the Netherlands, South Korea, Spain, and the U.S.

The PHAROS trial is sponsored by Pfizer Inc. and conducted with support from Pierre Fabre Laboratories.

About BRAF-mutant advanced Non-Small Cell Lung Cancer (NSCLC)

Lung cancer is the second most common type of cancer and the number one cause of cancer-related death globally.[2] NSCLC accounts for approximately 80-85% of all lung cancers.[5]

Certain lung cancers are driven by acquired genetic abnormalities like a BRAF mutation. By using biomarkers to identify a person’s particular tumour type, treatment can become more personalised and effective, since the molecular makeup of a person’s cancer often determines how they respond to different therapies.

BRAF mutations occur in approximately 3-5% of NSCLC cases.[1] It stimulates tumour cell growth and proliferation by altering the MAP kinase (MAPK) signalling pathway. Targeting components of this pathway could potentially inhibit unchecked tumour growth and proliferation caused by BRAF mutations.[1],[6]

Precision medicine is increasingly being developed for NSCLC patients with genetic changes, such as BRAF mutations, that can be detected using biomarker tests.[7],[8] Advances in targeted therapy and more widespread use of biomarker testing have been associated with significant improvements in population-level NSCLC mortality in recent years.[9]

About BRAFTOVI® + MEKTOVI® 

BRAFTOVI® (encorafenib) is an oral small molecule BRAF kinase inhibitor and MEKTOVI® (binimetinib) is an oral molecule MEK inhibitor, both of which target key proteins in the MAPK signalling pathway (RAS-RAF-MEK-ERK). Uncontrolled activation of this pathway has been shown to occur in many cancers, including melanoma, CRC, and NSCLC.[1] 

In 2018, the European Commission (EC) approved BRAFTOVI® + MEKTOVI® for adult patients with unresectable or metastatic melanoma with a BRAFV600 mutation. The approval was based on results from the randomised, active-controlled, open-label, multicentre Phase 3 COLUMBUS trial.

In 2020, BRAFTOVI® was EC-approved, in combination with cetuximab, for the treatment of adults with metastatic CRC with a BRAFV600E mutation. The approval was based on results from the randomised, active-controlled, open-label, multicentre Phase 3 BEACON CRC trial.

Pfizer has exclusive rights to commercialise BRAFTOVI® and MEKTOVI® in the U.S., Canada, and all countries in the Latin American, African, and Middle Eastern regions. Ono Pharmaceutical Co., Ltd. has exclusive rights to commercialise both products in Japan and South Korea, Medison has exclusive rights in Israel, and Pierre Fabre Laboratories has exclusive rights in all other countries, including Europe and Asia-Pacific.

The full product and safety information for the use of BRAFTOVI® and MEKTOVI® are outlined in the Summary of Product Characteristics (SmPC), published in the European public assessment report (EPAR) and available in all official EU languages. The full SmPC can be accessed at: https://www.ema.europa.eu/en.

About Pierre Fabre Laboratories

Pierre Fabre Laboratories is a leading French medical and beauty care company with 4 decades of experience in innovation, development, manufacturing, and commercialisation in oncology. The company dedicated about 80% of its R&D spendings to oncology in 2022 and has recently declared targeted therapies as its main R&D priority. Its current commercial portfolio in oncology covers colorectal, breast and lung cancers, melanoma, haematology, and pre-cancerous skin conditions like actinic keratosis. 

In 2022, Pierre Fabre Laboratories posted 2.7 billion euros in revenues, 69% of which came from international sales in 120 countries. Established in the South-West of France since its creation in 1962, the Group manufactures over 90% of its products in France and employs some 9,600 people worldwide. The company is 86%-owned by the Pierre Fabre Foundation, a government-recognised public-interest foundation, and secondarily by its own employees through an international employee stock ownership plan. Pierre Fabre Laboratories’ sustainability policy has been assessed by the independent AFNOR Certification body at the "Exemplary" level of its CSR label (ISO 26 000 standard for sustainable development). 

Further information about Pierre Fabre Laboratories can be found at www.pierre-fabre.com, @PierreFabre. 

References

1. Riely GJ, Smit EF, Ahn MJ. Phase II, Open-Label Study of Encorafenib Plus Binimetinib in Patients With BRAFV600-Mutant Metastatic Non–Small-Cell Lung Cancer. Journal of Clinical Oncology.2023;41:21,3700-3711.
2. World Health Organization. International Agency for Research on Cancer. GLOBOCAN 2020: Lung cancer fact sheet. Available at: http://gco.iarc.fr/today/data/factsheets/cancers/15-Lung-fact-sheet.pdf. Last accessed: July 2023.
3. European Medicines Agency. BRAFTOVI® (encorafenib) Summary of Product Characteristics. Available at: https://www.ema.europa.eu/en/medicines/human/EPAR/braftovi. Last accessed: July 2023.
4. European Medicines Agency. MEKTOVI® (binimetinib) Summary of Product Characteristics. Available at: https://www.ema.europa.eu/en/medicines/human/EPAR/mektovi. Last accessed: July 2023.
5. American Cancer Society. What is lung cancer? Available at: https://www.cancer.org/cancer/lung-cancer/about/what-is.html. Last accessed: July 2023. 
6. Yan N, Guo S, Zhang H, et al. BRAF-Mutated Non-Small Cell Lung Cancer: Current Treatment Status and Future Perspective. Front Oncol. 2022;12:863043. doi: 10.3389/fonc.2022.863043.
7. Planchard D, Popat S, Kerr K, et al. Metastatic non-small cell lung cancer: ESMO Clinical Practice Guidelines for diagnosis, treatment and follow-up. Ann Oncol 2018;29(Suppl. 4), iv192-iv237. Doi:10.1093/annonc/mdy275.
8. König D, Savic Prince S, Rothschild SI. Targeted therapy in advanced and metastatic non-small cell lung cancer. An update on treatment of the most important actionable oncogenic driver alterations. Cancers. 2021;13(4), 804. doi:10.3390/cancers13040804.
9. Howlader N, Forjaz G, Mooradian MJ, et al. The effect of advances in lung-cancer treatment on population mortality. N Engl J Med. 2020;383(7), 640–649. doi:10.1056/NEJMoa1916623.

Media contact:
Laure Sgandurra
[email protected] 

Source : European Medicines Agency validates Pierre Fabre Laboratories' marketing authorisation application for combination BRAFTOVI® (encorafenib) and MEKTOVI® (binimetinib) for patients with BRAFV600-mutant advanced non-small cell lung cancer (NSCLC)

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This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network

Launches two new regular premium investment-linked products, FWD WealthLink and FWD Wealthlink Pro 

KUALA LUMPUR, Malaysia, Nov. 2, 2023 /PRNewswire/ — FWD Insurance Berhad ("FWD Insurance") has unveiled its new brand campaign, "Celebrate Easy. Celebrate Living".  Inspired by the company’s vision of changing the way people feel about insurance, the campaign highlights that insurance can be simple and can encourage and help empower Malaysians to celebrate living.

(From left): Binayak Dutta, Managing Director, Emerging Markets, and FWD Group Chief Distribution Officer; Hyunh Thanh Phong, FWD Group Chief Executive Officer and Executive Director; Dato’ Haji Kamil Khalid Ariff, Chairman of the Board of Directors, FWD Insurance Berhad and Aman Chowla, Chief Executive Officer of FWD Insurance Berhad

Aman Chowla, Chief Executive Officer of FWD Insurance said, "We are committed to making the insurance journey simpler, faster, and smoother for our customers. With our Celebrate Easy. Celebrate Living brand campaign, we want to communicate that insurance can be easy and provide our customers with the protection they need to live their lives the way they want and celebrate living."  

With its latest brand campaign, FWD Insurance aims to put a new spin on a traditional industry by offering innovative propositions and products that are easy-to-understand and supported by digital technology.

FWD Insurance has also launched two new regular premium investment-linked products. FWD WealthLink comes with the added benefit of a 10% increase in coverage every five years, enhancing protection for customers and their loved ones by up to 50% of their original coverage. FWD WealthLink Pro offers a wealth bonus to customers where they will receive 8% of their coverage at the end of their 20th policy year and 4% of their coverage every 10 years subsequently, credited into their Investment Account. Customers will also receive an additional 400% coverage that will be payable in the event of accidental death due to natural disaster.

Additionally, a new rider FWD Medi First can be attached to FWD WealthLink to provide comprehensive medical coverage for hospitalisation, surgical and medical expenses and ensure peace of mind for customers. This add-on also includes an inflation shield against rising hospital room and board costs with a RM10 increase in hospital room & board and 10% increase in annual limit for every 3 years until the end of the coverage term, irrespective of whether any claims are made.

Both FWD WealthLink and FWD WealthLink Pro offer a no-lapse guarantee for five years, extended total and permanent disability coverage up to age 75 and the option to attach various comprehensive riders such as FWD CI Intense Shield to cover early, intermediate, and advanced stage critical illnesses, FWD IL Personal Accident for accident-related events and FWD Living Extra, where premiums are taken care of to ensure continued coverage.

"This is just the beginning of our product journey, and we will be rolling out more innovative products that are easy to know, buy, claim, engage and love," said Mr. Chowla. "Our customers are at the heart of everything we do. Moving forward, we will continue to uphold our commitment to provide products that meet our customer’s needs at every stage of their lives."

The campaign is now live in Malaysia across multiple media including digital billboards, social media and radio until 31 December 2023. 

(From left): Binayak Dutta; Allison Grace Toh, Chief Agency Officer of FWD Insurance Berhad and Aman Chowla during the launch of FWD WealthLink and FWD WealthLink Pro

About FWD Insurance Berhad

FWD Insurance Berhad ("FWD Insurance"), formerly known as Gibraltar BSN Life Berhad, is part of FWD Group, a pan-Asian life insurance business with more than 11 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. FWD reached its 10-year anniversary in 2023. The company is focused on making the insurance journey simpler, faster and smoother, with innovative propositions and easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD is committed to changing the way people feel about insurance.

Source : FWD Insurance unveils its new "Celebrate Easy. Celebrate Living" brand campaign

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This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network