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Yum China Holdings, Inc. 2024-2025 Proxy Voting Records

Compiled from SEC Form N-PX filings and Yum China Holdings, Inc.’s Form 8-K, filed 2025-05-23 (Item 5.07 on EDGAR). Page generated 02 October 2026.

24Reported items
776Asset managers
5,745Fund votes
2025-05-23Meeting date

Proxy season: 2023-2024 2024-2025 2025-2026

Explore Yum China Holdings, Inc. in the interactive database Compare manager voting policies

Official 2024-2025 meeting results reported by Yum China Holdings, Inc.

These tallies are Yum China Holdings, Inc.’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K, filed 2025-05-23 (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX.

Yum China Holdings, Inc. — official shareholder meeting results, meeting held 2025-05-23
Ballot item	For	Against	Abstain	Withheld	Broker non-votes	Outcome
Elect Director: Fred Hu	280,223,783	6,722,246	376,788	--	25,812,777	Majority: yes
Elect Director: Joey Wat	285,838,595	1,107,110	377,112	--	25,812,777	Majority: yes
Elect Director: Robert B. Aiken	286,532,856	409,099	380,862	--	25,812,777	Majority: yes
Elect Director: Mikel A. Durham	286,505,098	436,194	381,525	--	25,812,777	Majority: yes
Elect Director: Edouard Ettedgui	286,208,303	729,528	384,986	--	25,812,777	Majority: yes
Elect Director: Grace Xin Ge	286,490,817	458,689	373,311	--	25,812,777	Majority: yes
Elect Director: David Hoffmann	286,521,861	410,657	390,299	--	25,812,777	Majority: yes
Elect Director: Ruby Lu	285,663,769	1,290,284	368,764	--	25,812,777	Majority: yes
Elect Director: Zili Shao	286,054,477	882,244	386,096	--	25,812,777	Majority: yes
Elect Director: William Wang	286,208,877	729,004	384,936	--	25,812,777	Majority: yes
Elect Director: Min (Jenny) Zhang	284,102,853	2,843,922	376,042	--	25,812,777	Majority: yes
Elect Director: Christina Xiaojing Zhu	286,523,549	427,191	372,077	--	25,812,777	Majority: yes

Source: Yum China Holdings, Inc., Form 8-K, filed with the SEC on 2025-05-23 — read the filing on EDGAR.

How asset managers voted at the Yum China Holdings, Inc. 2024-2025 meeting

Each item below shows how the 776 asset managers that disclosed a Yum China Holdings, Inc. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of Yum China Holdings, Inc.’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. Advisory Vote to Approve Executive Compensation

COMPENSATION

Meeting held 2025-05-23.

Combines 2 wordings of this item as funds reported it.

94% fund support · no official result

FOR 94%

The 720 asset managers below cast 94% of the shares they voted on this item FOR (241,255,883 for, 15,889,021 against).

FOR: 241,255,883 (93.8%)AGAINST: 15,889,021 (6.2%)ABSTAIN: 1,445 (0.0%)NOT VOTED: 31,469 (0.0%)

Largest asset managers voting on “Advisory Vote to Approve Executive Compensation” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Against	Vote
T. Rowe Price	24,717,775	0	For
Fidelity	20,783,353	0	For
Vanguard	16,949,164	0	For
Dodge & Cox	16,693,032	0	For
PRINCIPAL GLOBAL INVESTORS	13,404,611	0	For
BlackRock	12,875,646	38,015	For
BLS CAPITAL FONDSMAEGLERSELSKAB A/S	9,978,143	0	For
GUARDCAP ASSET MANAGEMENT Ltd	6,838,478	0	For
RBC Global Asset Management (U.S.)	6,627,563	0	For
AllianceBernstein	6,380,898	0	For
Loomis Sayles	5,581,286	0	For
Invesco	2,117,903	3,138,150	Against
MASSACHUSETTS FINANCIAL SERVICES CO /MA/	5,251,552	0	For
Allspring	4,812,934	0	For
State Street	4,407,836	294,354	For
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC	4,519,703	0	For
Principal	3,886,814	0	For
Thrivent	3,354,373	0	For
Mawer Investment Management Ltd.	2,981,898	0	For
WASHINGTON STATE INVESTMENT BOARD	2,833,449	0	For
NEWTON INVESTMENT MANAGEMENT LTD	2,480,278	0	For
MFS	2,294,746	0	For
RBC FUNDS TRUST	2,288,212	0	For
GEODE CAPITAL MANAGEMENT, LLC	2,214,716	0	For
Dimensional	2,094,055	0	For

Showing the 25 largest of 720 asset managers. See all 720 in the interactive database.

2. Election of Directors: David Hoffmann

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-23.

Combines 4 wordings of this item as funds reported it.

99.8% Majority: yes · of votes cast

FOR 99.8%

FOR: 286,521,861AGAINST: 410,657

Yum China Holdings, Inc.’s own tally for this item (“Elect Director: David Hoffmann”): 286,521,861 for, 410,657 against, per its Form 8-K filed 2025-05-23 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 375,000,000 outstanding shares: 76% for, 0.2% against (77% of the company cast a for/against vote).

The 106 asset managers below cast 100% of the shares they voted on this item FOR (68,638,241 for, 0 against).

FOR 100%

FOR: 68,638,241 (100.0%)

Largest asset managers voting on “Election of Directors: David Hoffmann” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Vote
Vanguard	11,728,638	For
Dodge & Cox	8,179,870	For
BlackRock	6,439,758	For
Fidelity	6,099,980	For
T. Rowe Price	4,637,546	For
Principal	3,886,814	For
MFS	2,294,746	For
RBC FUNDS TRUST	2,288,212	For
Allspring	2,263,450	For
AllianceBernstein	1,731,520	For
Thrivent	1,650,073	For
Dimensional	1,634,059	For
Loomis Sayles	1,198,917	For
Invesco	1,169,679	For
Charles Schwab	985,981	For
DRIEHAUS MUTUAL FUNDS	984,809	For
JPMorgan	879,927	For
WILLIAM BLAIR FUNDS	746,958	For
TIAA	733,393	For
American Century	708,291	For
Virtus	540,699	For
Jackson National	511,465	For
Equitable	497,850	For
Northwestern Mutual	437,626	For
Calvert	409,391	For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

3. Election of Directors: Edouard Ettedgui

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-23.

Combines 5 wordings of this item as funds reported it.

99.7% Majority: yes · of votes cast

FOR 99.7%

FOR: 286,208,303AGAINST: 729,528

Yum China Holdings, Inc.’s own tally for this item (“Elect Director: Edouard Ettedgui”): 286,208,303 for, 729,528 against, per its Form 8-K filed 2025-05-23 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 375,000,000 outstanding shares: 76% for, 0.2% against (77% of the company cast a for/against vote).

The 106 asset managers below cast 100% of the shares they voted on this item FOR (68,638,241 for, 0 against).

FOR 100%

FOR: 68,638,241 (100.0%)

Largest asset managers voting on “Election of Directors: Edouard Ettedgui” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Vote
Vanguard	11,728,638	For
Dodge & Cox	8,179,870	For
BlackRock	6,439,758	For
Fidelity	6,099,980	For
T. Rowe Price	4,637,546	For
Principal	3,886,814	For
MFS	2,294,746	For
RBC FUNDS TRUST	2,288,212	For
Allspring	2,263,450	For
AllianceBernstein	1,731,520	For
Thrivent	1,650,073	For
Dimensional	1,634,059	For
Loomis Sayles	1,198,917	For
Invesco	1,169,679	For
Charles Schwab	985,981	For
DRIEHAUS MUTUAL FUNDS	984,809	For
JPMorgan	879,927	For
WILLIAM BLAIR FUNDS	746,958	For
TIAA	733,393	For
American Century	708,291	For
Virtus	540,699	For
Jackson National	511,465	For
Equitable	497,850	For
Northwestern Mutual	437,626	For
Calvert	409,391	For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

4. Election of Directors: Grace Xin Ge

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-23.

Combines 4 wordings of this item as funds reported it.

99.8% Majority: yes · of votes cast

FOR 99.8%

FOR: 286,490,817AGAINST: 458,689

Yum China Holdings, Inc.’s own tally for this item (“Elect Director: Grace Xin Ge”): 286,490,817 for, 458,689 against, per its Form 8-K filed 2025-05-23 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 375,000,000 outstanding shares: 76% for, 0.2% against (77% of the company cast a for/against vote).

The 106 asset managers below cast 100% of the shares they voted on this item FOR (68,638,241 for, 0 against).

FOR 100%

FOR: 68,638,241 (100.0%)

Largest asset managers voting on “Election of Directors: Grace Xin Ge” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Vote
Vanguard	11,728,638	For
Dodge & Cox	8,179,870	For
BlackRock	6,439,758	For
Fidelity	6,099,980	For
T. Rowe Price	4,637,546	For
Principal	3,886,814	For
MFS	2,294,746	For
RBC FUNDS TRUST	2,288,212	For
Allspring	2,263,450	For
AllianceBernstein	1,731,520	For
Thrivent	1,650,073	For
Dimensional	1,634,059	For
Loomis Sayles	1,198,917	For
Invesco	1,169,679	For
Charles Schwab	985,981	For
DRIEHAUS MUTUAL FUNDS	984,809	For
JPMorgan	879,927	For
WILLIAM BLAIR FUNDS	746,958	For
TIAA	733,393	For
American Century	708,291	For
Virtus	540,699	For
Jackson National	511,465	For
Equitable	497,850	For
Northwestern Mutual	437,626	For
Calvert	409,391	For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

5. Election of Directors: Joey Wat

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-23.

Combines 4 wordings of this item as funds reported it.

99.6% Majority: yes · of votes cast

FOR 99.6%

FOR: 285,838,595AGAINST: 1,107,110

Yum China Holdings, Inc.’s own tally for this item (“Elect Director: Joey Wat”): 285,838,595 for, 1,107,110 against, per its Form 8-K filed 2025-05-23 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 375,000,000 outstanding shares: 76% for, 0.3% against (77% of the company cast a for/against vote).

The 106 asset managers below cast 100% of the shares they voted on this item FOR (68,638,241 for, 0 against).

FOR 100%

FOR: 68,638,241 (100.0%)

Largest asset managers voting on “Election of Directors: Joey Wat” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Vote
Vanguard	11,728,638	For
Dodge & Cox	8,179,870	For
BlackRock	6,439,758	For
Fidelity	6,099,980	For
T. Rowe Price	4,637,546	For
Principal	3,886,814	For
MFS	2,294,746	For
RBC FUNDS TRUST	2,288,212	For
Allspring	2,263,450	For
AllianceBernstein	1,731,520	For
Thrivent	1,650,073	For
Dimensional	1,634,059	For
Loomis Sayles	1,198,917	For
Invesco	1,169,679	For
Charles Schwab	985,981	For
DRIEHAUS MUTUAL FUNDS	984,809	For
JPMorgan	879,927	For
WILLIAM BLAIR FUNDS	746,958	For
TIAA	733,393	For
American Century	708,291	For
Virtus	540,699	For
Jackson National	511,465	For
Equitable	497,850	For
Northwestern Mutual	437,626	For
Calvert	409,391	For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

6. Election of Directors: Mikel A. Durham

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-23.

Combines 4 wordings of this item as funds reported it.

99.8% Majority: yes · of votes cast

FOR 99.8%

FOR: 286,505,098AGAINST: 436,194

Yum China Holdings, Inc.’s own tally for this item (“Elect Director: Mikel A. Durham”): 286,505,098 for, 436,194 against, per its Form 8-K filed 2025-05-23 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 375,000,000 outstanding shares: 76% for, 0.2% against (77% of the company cast a for/against vote).

The 106 asset managers below cast 100% of the shares they voted on this item FOR (68,638,241 for, 0 against).

FOR 100%

FOR: 68,638,241 (100.0%)

Largest asset managers voting on “Election of Directors: Mikel A. Durham” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Vote
Vanguard	11,728,638	For
Dodge & Cox	8,179,870	For
BlackRock	6,439,758	For
Fidelity	6,099,980	For
T. Rowe Price	4,637,546	For
Principal	3,886,814	For
MFS	2,294,746	For
RBC FUNDS TRUST	2,288,212	For
Allspring	2,263,450	For
AllianceBernstein	1,731,520	For
Thrivent	1,650,073	For
Dimensional	1,634,059	For
Loomis Sayles	1,198,917	For
Invesco	1,169,679	For
Charles Schwab	985,981	For
DRIEHAUS MUTUAL FUNDS	984,809	For
JPMorgan	879,927	For
WILLIAM BLAIR FUNDS	746,958	For
TIAA	733,393	For
American Century	708,291	For
Virtus	540,699	For
Jackson National	511,465	For
Equitable	497,850	For
Northwestern Mutual	437,626	For
Calvert	409,391	For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

7. Election of Directors: Min (Jenny) Zhang

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-23.

Combines 4 wordings of this item as funds reported it.

99.0% Majority: yes · of votes cast

FOR 99.0%

FOR: 284,102,853AGAINST: 2,843,922

Yum China Holdings, Inc.’s own tally for this item (“Elect Director: Min (Jenny) Zhang”): 284,102,853 for, 2,843,922 against, per its Form 8-K filed 2025-05-23 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 375,000,000 outstanding shares: 76% for, 0.8% against (77% of the company cast a for/against vote).

The 106 asset managers below cast 100% of the shares they voted on this item FOR (68,638,241 for, 0 against).

FOR 100%

FOR: 68,638,241 (100.0%)

Largest asset managers voting on “Election of Directors: Min (Jenny) Zhang” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Vote
Vanguard	11,728,638	For
Dodge & Cox	8,179,870	For
BlackRock	6,439,758	For
Fidelity	6,099,980	For
T. Rowe Price	4,637,546	For
Principal	3,886,814	For
MFS	2,294,746	For
RBC FUNDS TRUST	2,288,212	For
Allspring	2,263,450	For
AllianceBernstein	1,731,520	For
Thrivent	1,650,073	For
Dimensional	1,634,059	For
Loomis Sayles	1,198,917	For
Invesco	1,169,679	For
Charles Schwab	985,981	For
DRIEHAUS MUTUAL FUNDS	984,809	For
JPMorgan	879,927	For
WILLIAM BLAIR FUNDS	746,958	For
TIAA	733,393	For
American Century	708,291	For
Virtus	540,699	For
Jackson National	511,465	For
Equitable	497,850	For
Northwestern Mutual	437,626	For
Calvert	409,391	For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

8. Election of Directors: Robert B. Aiken

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-23.

Combines 4 wordings of this item as funds reported it.

99.8% Majority: yes · of votes cast

FOR 99.8%

FOR: 286,532,856AGAINST: 409,099

Yum China Holdings, Inc.’s own tally for this item (“Elect Director: Robert B. Aiken”): 286,532,856 for, 409,099 against, per its Form 8-K filed 2025-05-23 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 375,000,000 outstanding shares: 76% for, 0.2% against (77% of the company cast a for/against vote).

The 106 asset managers below cast 100% of the shares they voted on this item FOR (68,638,241 for, 0 against).

FOR 100%

FOR: 68,638,241 (100.0%)

Largest asset managers voting on “Election of Directors: Robert B. Aiken” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Vote
Vanguard	11,728,638	For
Dodge & Cox	8,179,870	For
BlackRock	6,439,758	For
Fidelity	6,099,980	For
T. Rowe Price	4,637,546	For
Principal	3,886,814	For
MFS	2,294,746	For
RBC FUNDS TRUST	2,288,212	For
Allspring	2,263,450	For
AllianceBernstein	1,731,520	For
Thrivent	1,650,073	For
Dimensional	1,634,059	For
Loomis Sayles	1,198,917	For
Invesco	1,169,679	For
Charles Schwab	985,981	For
DRIEHAUS MUTUAL FUNDS	984,809	For
JPMorgan	879,927	For
WILLIAM BLAIR FUNDS	746,958	For
TIAA	733,393	For
American Century	708,291	For
Virtus	540,699	For
Jackson National	511,465	For
Equitable	497,850	For
Northwestern Mutual	437,626	For
Calvert	409,391	For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

9. Election of Directors: Ruby Lu

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-23.

Combines 4 wordings of this item as funds reported it.

99.5% Majority: yes · of votes cast

FOR 99.5%

FOR: 285,663,769AGAINST: 1,290,284

Yum China Holdings, Inc.’s own tally for this item (“Elect Director: Ruby Lu”): 285,663,769 for, 1,290,284 against, per its Form 8-K filed 2025-05-23 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 375,000,000 outstanding shares: 76% for, 0.4% against (77% of the company cast a for/against vote).

The 106 asset managers below cast 99.9% of the shares they voted on this item FOR (68,636,912 for, 1,329 against).

FOR 99.9%

FOR: 68,636,912 (100.0%)AGAINST: 1,329 (0.0%)

Largest asset managers voting on “Election of Directors: Ruby Lu” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Vote
Vanguard	11,728,638	For
Dodge & Cox	8,179,870	For
BlackRock	6,439,758	For
Fidelity	6,099,980	For
T. Rowe Price	4,637,546	For
Principal	3,886,814	For
MFS	2,294,746	For
RBC FUNDS TRUST	2,288,212	For
Allspring	2,263,450	For
AllianceBernstein	1,731,520	For
Thrivent	1,650,073	For
Dimensional	1,634,059	For
Loomis Sayles	1,198,917	For
Invesco	1,169,679	For
Charles Schwab	985,981	For
DRIEHAUS MUTUAL FUNDS	984,809	For
JPMorgan	879,927	For
WILLIAM BLAIR FUNDS	746,958	For
TIAA	733,393	For
American Century	708,291	For
Virtus	540,699	For
Jackson National	511,465	For
Equitable	497,850	For
Northwestern Mutual	437,626	For
Calvert	409,391	For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

10. Election of Directors: William Wang

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-23.

Combines 4 wordings of this item as funds reported it.

99.7% Majority: yes · of votes cast

FOR 99.7%

FOR: 286,208,877AGAINST: 729,004

Yum China Holdings, Inc.’s own tally for this item (“Elect Director: William Wang”): 286,208,877 for, 729,004 against, per its Form 8-K filed 2025-05-23 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 375,000,000 outstanding shares: 76% for, 0.2% against (77% of the company cast a for/against vote).

The 106 asset managers below cast 100% of the shares they voted on this item FOR (68,638,241 for, 0 against).

FOR 100%

FOR: 68,638,241 (100.0%)

Largest asset managers voting on “Election of Directors: William Wang” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Vote
Vanguard	11,728,638	For
Dodge & Cox	8,179,870	For
BlackRock	6,439,758	For
Fidelity	6,099,980	For
T. Rowe Price	4,637,546	For
Principal	3,886,814	For
MFS	2,294,746	For
RBC FUNDS TRUST	2,288,212	For
Allspring	2,263,450	For
AllianceBernstein	1,731,520	For
Thrivent	1,650,073	For
Dimensional	1,634,059	For
Loomis Sayles	1,198,917	For
Invesco	1,169,679	For
Charles Schwab	985,981	For
DRIEHAUS MUTUAL FUNDS	984,809	For
JPMorgan	879,927	For
WILLIAM BLAIR FUNDS	746,958	For
TIAA	733,393	For
American Century	708,291	For
Virtus	540,699	For
Jackson National	511,465	For
Equitable	497,850	For
Northwestern Mutual	437,626	For
Calvert	409,391	For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

11. Election of Directors: Zili Shao

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-23.

Combines 4 wordings of this item as funds reported it.

99.6% Majority: yes · of votes cast

FOR 99.6%

FOR: 286,054,477AGAINST: 882,244

Yum China Holdings, Inc.’s own tally for this item (“Elect Director: Zili Shao”): 286,054,477 for, 882,244 against, per its Form 8-K filed 2025-05-23 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 375,000,000 outstanding shares: 76% for, 0.3% against (77% of the company cast a for/against vote).

The 106 asset managers below cast 100% of the shares they voted on this item FOR (68,638,241 for, 0 against).

FOR 100%

FOR: 68,638,241 (100.0%)

Largest asset managers voting on “Election of Directors: Zili Shao” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Vote
Vanguard	11,728,638	For
Dodge & Cox	8,179,870	For
BlackRock	6,439,758	For
Fidelity	6,099,980	For
T. Rowe Price	4,637,546	For
Principal	3,886,814	For
MFS	2,294,746	For
RBC FUNDS TRUST	2,288,212	For
Allspring	2,263,450	For
AllianceBernstein	1,731,520	For
Thrivent	1,650,073	For
Dimensional	1,634,059	For
Loomis Sayles	1,198,917	For
Invesco	1,169,679	For
Charles Schwab	985,981	For
DRIEHAUS MUTUAL FUNDS	984,809	For
JPMorgan	879,927	For
WILLIAM BLAIR FUNDS	746,958	For
TIAA	733,393	For
American Century	708,291	For
Virtus	540,699	For
Jackson National	511,465	For
Equitable	497,850	For
Northwestern Mutual	437,626	For
Calvert	409,391	For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

12. Election of Directors: Christina Xiaojing Zhu

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-23.

Combines 5 wordings of this item as funds reported it.

99.8% Majority: yes · of votes cast

FOR 99.8%

FOR: 286,523,549AGAINST: 427,191

Yum China Holdings, Inc.’s own tally for this item (“Elect Director: Christina Xiaojing Zhu”): 286,523,549 for, 427,191 against, per its Form 8-K filed 2025-05-23 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 375,000,000 outstanding shares: 76% for, 0.2% against (77% of the company cast a for/against vote).

The 106 asset managers below cast 100% of the shares they voted on this item FOR (68,638,241 for, 0 against).

FOR 100%

FOR: 68,638,241 (100.0%)

Largest asset managers voting on “Election of Directors: Christina Xiaojing Zhu” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Vote
Vanguard	11,728,638	For
Dodge & Cox	8,179,870	For
BlackRock	6,439,758	For
Fidelity	6,099,980	For
T. Rowe Price	4,637,546	For
Principal	3,886,814	For
MFS	2,294,746	For
RBC FUNDS TRUST	2,288,212	For
Allspring	2,263,450	For
AllianceBernstein	1,731,520	For
Thrivent	1,650,073	For
Dimensional	1,634,059	For
Loomis Sayles	1,198,917	For
Invesco	1,169,679	For
Charles Schwab	985,981	For
DRIEHAUS MUTUAL FUNDS	984,809	For
JPMorgan	879,927	For
WILLIAM BLAIR FUNDS	746,958	For
TIAA	733,393	For
American Century	708,291	For
Virtus	540,699	For
Jackson National	511,465	For
Equitable	497,850	For
Northwestern Mutual	437,626	For
Calvert	409,391	For

Showing the 25 largest of 106 asset managers. See all 106 in the interactive database.

13. Election of Directors: Fred Hu

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-23.

Combines 3 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 280,223,783AGAINST: 6,722,246

Yum China Holdings, Inc.’s own tally for this item (“Elect Director: Fred Hu”): 280,223,783 for, 6,722,246 against, per its Form 8-K filed 2025-05-23 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 375,000,000 outstanding shares: 75% for, 2% against (77% of the company cast a for/against vote).

The 105 asset managers below cast 99.9% of the shares they voted on this item FOR (68,560,545 for, 14,516 against).

FOR 99.9%

FOR: 68,560,545 (100.0%)AGAINST: 14,516 (0.0%)

Largest asset managers voting on “Election of Directors: Fred Hu” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Vote
Vanguard	11,728,638	For
Dodge & Cox	8,179,870	For
BlackRock	6,439,758	For
Fidelity	6,099,980	For
T. Rowe Price	4,637,546	For
Principal	3,886,814	For
MFS	2,294,746	For
RBC FUNDS TRUST	2,288,212	For
Allspring	2,263,450	For
AllianceBernstein	1,731,520	For
Thrivent	1,650,073	For
Dimensional	1,634,059	For
Loomis Sayles	1,198,917	For
Invesco	1,169,679	For
Charles Schwab	985,981	For
DRIEHAUS MUTUAL FUNDS	984,809	For
JPMorgan	879,927	For
WILLIAM BLAIR FUNDS	746,958	For
TIAA	733,393	For
American Century	708,291	For
Virtus	540,699	For
Jackson National	511,465	For
Equitable	497,850	For
Northwestern Mutual	437,626	For
Calvert	409,391	For

Showing the 25 largest of 105 asset managers. See all 105 in the interactive database.

14. Vote to Authorize the Board of Directors to Issue Shares up to 20% of Outstanding Shares

CAPITAL STRUCTURE

Meeting held 2025-05-23.

Combines 2 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 104 asset managers below cast 99.9% of the shares they voted on this item FOR (68,301,121 for, 1,500 against).

FOR: 68,301,121 (100.0%)AGAINST: 1,500 (0.0%)

Largest asset managers voting on “Vote to Authorize the Board of Directors to Issue Shares up to 20% of Outstanding Shares” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Vote
Vanguard	11,728,638	For
Dodge & Cox	8,179,870	For
BlackRock	6,439,758	For
Fidelity	6,099,980	For
T. Rowe Price	4,637,546	For
Principal	3,886,814	For
MFS	2,294,746	For
RBC FUNDS TRUST	2,288,212	For
Allspring	2,263,450	For
AllianceBernstein	1,731,520	For
Thrivent	1,650,073	For
Dimensional	1,634,059	For
Loomis Sayles	1,198,917	For
Invesco	1,169,679	For
Charles Schwab	985,981	For
DRIEHAUS MUTUAL FUNDS	984,809	For
JPMorgan	879,927	For
WILLIAM BLAIR FUNDS	746,958	For
TIAA	733,393	For
American Century	708,291	For
Virtus	540,699	For
Jackson National	511,465	For
Equitable	497,850	For
Northwestern Mutual	437,626	For
Calvert	409,391	For

Showing the 25 largest of 104 asset managers. See all 104 in the interactive database.

15. Vote to Authorize the Board of Directors to Repurchase Shares up to 10% of Outstanding Shares

CAPITAL STRUCTURE

Meeting held 2025-05-23.

100% fund support · no official result

FOR 100%

The 104 asset managers below cast 100% of the shares they voted on this item FOR (68,299,406 for, 0 against).

FOR: 68,299,406 (100.0%)

Largest asset managers voting on “Vote to Authorize the Board of Directors to Repurchase Shares up to 10% of Outstanding Shares” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Vote
Vanguard	11,728,638	For
Dodge & Cox	8,179,870	For
BlackRock	6,439,758	For
Fidelity	6,099,980	For
T. Rowe Price	4,637,546	For
Principal	3,886,814	For
MFS	2,294,746	For
RBC FUNDS TRUST	2,288,212	For
Allspring	2,263,450	For
AllianceBernstein	1,731,520	For
Thrivent	1,650,073	For
Dimensional	1,634,059	For
Loomis Sayles	1,198,917	For
Invesco	1,169,679	For
Charles Schwab	985,981	For
DRIEHAUS MUTUAL FUNDS	984,809	For
JPMorgan	879,927	For
WILLIAM BLAIR FUNDS	746,958	For
TIAA	733,393	For
American Century	708,291	For
Virtus	540,699	For
Jackson National	511,465	For
Equitable	497,850	For
Northwestern Mutual	437,626	For
Calvert	409,391	For

Showing the 25 largest of 104 asset managers. See all 104 in the interactive database.

16. Approval and Ratification of the Appointment of KPMG Huazhen LLP And KPMG as the Company's Independent Auditors for 2025

AUDIT-RELATED

Meeting held 2025-05-23.

Combines 2 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 102 asset managers below cast 99.9% of the shares they voted on this item FOR (68,292,250 for, 360 against).

FOR: 68,292,250 (100.0%)AGAINST: 360 (0.0%)

Largest asset managers voting on “Approval and Ratification of the Appointment of KPMG Huazhen LLP And KPMG as the Company's Independent Auditor” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Vote
Vanguard	11,728,638	For
Dodge & Cox	8,179,870	For
BlackRock	6,439,758	For
Fidelity	6,099,980	For
T. Rowe Price	4,637,546	For
Principal	3,886,814	For
MFS	2,294,746	For
RBC FUNDS TRUST	2,288,212	For
Allspring	2,263,450	For
AllianceBernstein	1,731,520	For
Thrivent	1,650,073	For
Dimensional	1,634,059	For
Loomis Sayles	1,198,917	For
Invesco	1,169,679	For
Charles Schwab	985,981	For
DRIEHAUS MUTUAL FUNDS	984,809	For
JPMorgan	879,927	For
WILLIAM BLAIR FUNDS	746,958	For
TIAA	733,393	For
American Century	708,291	For
Virtus	540,699	For
Jackson National	511,465	For
Equitable	497,850	For
Northwestern Mutual	437,626	For
Calvert	409,391	For

Showing the 25 largest of 102 asset managers. See all 102 in the interactive database.

17. Advisory Vote to Ratify Named Executive Officers' Compensation

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2025-05-23.

92% fund support · no official result

FOR 92%8%

The 22 asset managers below cast 92% of the shares they voted on this item FOR (19,677,989 for, 1,677,492 against).

FOR: 19,677,989 (92.1%)AGAINST: 1,677,492 (7.9%)

Largest asset managers voting on “Advisory Vote to Ratify Named Executive Officers' Compensation” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Against	Vote
JPMorgan	18,188,537	0	For
NORDEA INVESTMENT MANAGEMENT AB	0	680,469	Against
Waverton Investment Management Ltd	522,205	0	For
APG Asset Management US Inc.	0	443,228	Against
STOREBRAND ASSET MANAGEMENT AS	406,730	0	For
Desjardins Global Asset Management Inc.	0	251,595	Against
COMGEST GLOBAL INVESTORS S.A.S.	0	210,817	Against
GuideStone	175,333	0	For
Wesleyan Assurance Society	168,530	0	For
Erste Asset Management GmbH	104,716	0	For
FAYEZ SAROFIM & CO	65,955	0	For
Cardano Risk Management B.V.	0	63,180	Against
TD Waterhouse Canada Inc.	33,169	0	For
TOBAM	0	16,563	Against
Union Investment Institutional GmbH	0	10,730	Against
Qtron Investments LLC	8,110	0	For
Vinva Investment Management Ltd	3,780	0	For
Empirical Financial Services, LLC d.b.a. Empirical Wealth Ma	902	0	For
OSSIAM	0	523	Against
Athena Investment Management	0	387	Against
WHITENER CAPITAL MANAGEMENT, INC.	12	0	For
Balentine LLC	10	0	For

18. 14A Executive Compensation

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2025-05-23.

99.8% fund support · no official result

FOR 99.5%

The 10 asset managers below cast 99.8% of the shares they voted on this item FOR (342,295 for, 611 against).

FOR: 342,295 (99.5%)AGAINST: 611 (0.2%)NOT VOTED: 1,026 (0.3%)

Largest asset managers voting on “14A Executive Compensation” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Against	Vote
London & Capital Asset Management Ltd	333,568	0	For
Focus Partners Wealth	3,497	396	For
Ballew Advisors, Inc	2,178	0	For
EAGLE GLOBAL ADVISORS LLC	1,280	0	For
Blue Fin Capital, Inc.	1,105	0	For
LEAVELL INVESTMENT MANAGEMENT, INC.	0	0	Not Voted
OLD SECOND NATIONAL BANK OF AURORA	287	0	For
COURIER CAPITAL LLC	280	0	For
Campion Asset Management	0	215	Against
WESPAC Advisors SoCal, LLC	100	0	For

19. Advisory vote to approve named executive officer compensation.

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2025-05-23.

99.9% fund support · no official result

FOR 99.9%

The 6 asset managers below cast 99.9% of the shares they voted on this item FOR (12,113,155 for, 500 against).

FOR: 12,113,155 (100.0%)AGAINST: 500 (0.0%)

Largest asset managers voting on “Advisory vote to approve named executive officer compensation.” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Against	Vote
Primavera Capital Management Ltd	12,035,635	0	For
MANE GLOBAL CAPITAL MANAGEMENT LP	72,656	0	For
Rodgers Brothers Inc.	3,020	0	For
ST GERMAIN D J CO INC	1,240	0	For
Steele Capital Management, Inc.	604	0	For
Cascade Investment Advisors, Inc.	0	500	Against

20. Advisory Vote to Approve Executive Compensation

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2024-05-23 (outside the 2024-2025 season's 1 July to 30 June window; reported in this season's filings).

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 5 asset managers below cast 100% of the shares they voted on this item FOR (2,563 for, 0 against).

FOR: 2,563 (100.0%)

Largest asset managers voting on “Advisory Vote to Approve Executive Compensation” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Vote
VAUGHAN DAVID INVESTMENTS LLC/IL	1,256	For
COLDSTREAM CAPITAL MANAGEMENT INC	801	For
Ipswich Investment Management Co., Inc.	300	For
Axiom Financial Strategies, LLC	206	For
Echo45 Advisors LLC	0	--

21. Approve Issuance of Shares for a Private Placement

CAPITAL STRUCTURE

Meeting held 2025-05-23.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (280,049 for, 0 against).

FOR: 280,049 (100.0%)

Largest asset managers voting on “Approve Issuance of Shares for a Private Placement” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Against	Abstain	Withheld	Vote
GuideStone	175,333	0	0	0	For
Erste Asset Management GmbH	104,716	0	0	0	For

22. Authorize Share Repurchase Program

CAPITAL STRUCTURE

Meeting held 2025-05-23.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (280,049 for, 0 against).

FOR: 280,049 (100.0%)

Largest asset managers voting on “Authorize Share Repurchase Program” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Against	Abstain	Withheld	Vote
GuideStone	175,333	0	0	0	For
Erste Asset Management GmbH	104,716	0	0	0	For

23. Ratify KPMG Huazhen LLP and KPMG as Auditors

AUDIT-RELATED

Meeting held 2025-05-23.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (280,049 for, 0 against).

FOR: 280,049 (100.0%)

Largest asset managers voting on “Ratify KPMG Huazhen LLP and KPMG as Auditors” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Against	Abstain	Withheld	Vote
GuideStone	175,333	0	0	0	For
Erste Asset Management GmbH	104,716	0	0	0	For

24. Director Elections

DIRECTOR ELECTIONS

Meeting held 2025-05-23.

100% fund support · no official result

FOR 100%

The 2 asset managers below cast 100% of the shares they voted on this item FOR (2,584 for, 0 against).

FOR: 2,584 (100.0%)

Largest asset managers voting on “Director Elections” at Yum China Holdings, Inc., 2024-2025
Asset manager	For	Against	Abstain	Withheld	Vote
Ballew Advisors, Inc	2,178	0	0	0	For
Members Trust Co	406	0	0	0	For

Largest Yum China Holdings, Inc. shareholders voting in 2024-2025

Ranked by the number of Yum China Holdings, Inc. shares each manager voted on the most widely held ballot item of the 2024-2025 meeting, shown as a share of the 375,000,000 shares outstanding at the time of that meeting.

Top Yum China Holdings, Inc. shareholders by shares voted, 2024-2025
#	Asset manager	% of shares outstanding
1	T. Rowe Price	6.59%
2	Fidelity	5.54%
3	Vanguard	4.52%
4	Dodge & Cox	4.45%
5	PRINCIPAL GLOBAL INVESTORS	3.57%
6	BlackRock	3.44%
7	BLS CAPITAL FONDSMAEGLERSELSKAB A/S	2.66%
8	GUARDCAP ASSET MANAGEMENT Ltd	1.82%
9	RBC Global Asset Management (U.S.)	1.77%
10	AllianceBernstein	1.70%

Reported Yum China Holdings, Inc. ownership

Positions disclosed to the SEC on Schedules 13D and 13G, Form 13F and the company’s own proxy statement (DEF 14A).

Yum China Holdings, Inc. beneficial owners on record for the 2024-2025 proxy season
Holder	% outstanding	Disclosure
JPMorgan Chase	6.40%	13F
PRINCIPAL GLOBAL INVESTORS	5.38%	13G
BlackRock	4.50%	13F
Vanguard Group	4.07%	13F
FMR (Fidelity)	2.76%	13F
T. Rowe Price	2.70%	13F
State Street	1.57%	13F
Norges Bank	1.52%	13F
Wellington Management	1.07%	13F
BNY Mellon	1.02%	13F

Percentages above are of 375,000,000 shares outstanding, as reported by Yum China Holdings, Inc. on its Form 10-Q dated 2025-03-31 (see the filing on EDGAR). This is the count contemporaneous with the 2024-2025 meeting, so the percentages are the ones that were true then, not ones restated against today’s share count.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from Yum China Holdings, Inc.’s 10-Q dated 2025-03-31. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.

At Yum China Holdings, Inc.'s shareholder meeting held 2025-05-23, in the 2024-2025 proxy season, 776 asset managers reported how they voted in their SEC Form N-PX filings, covering 5,745 separate fund positions. Their filings are grouped here into 24 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. Yum China Holdings, Inc.'s own Form 8-K tally for this meeting is published below, but no row in it could be matched to the most widely held item, so this page states no certified outcome for that item. On that item — Advisory Vote to Approve Executive Compensation — the reporting funds cast 94% of the shares they voted in favour (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side). That is the aggregate of those managers' own N-PX disclosures, not the company's certified result, and the funds are a subset of all shareholders.

Yum China Holdings, Inc. proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.