Luckin Coffee reports Q3 EPS RMB 4.40 vs. RMB 3.60 last year

Reports Q3 revenue RMB 10.18B vs. RMB 7.2B last year. Net new store openings during the third quarter was 1,382, resulting in a quarter-over-quarter store unit growth of 6.9% from the number of stores at the end of the second quarter of 2024, ending the third quarter with 21,343 stores which include 13,936 self-operated stores and 7,407 partnership stores. Average monthly transacting customers in the third quarter was 79.8 million, representing an increase of 36.5% from 58.5 million in the same quarter of 2023. “I’m pleased to report that Luckin delivered outstanding results in the third quarter of 2024,” said Dr. Jinyi Guo, CEO. “With the hard work and dedication of our team and the loyalty of our customers, we achieved record net revenue and operating profit while maintaining a healthy margin. Despite the many coffee options available in China, Luckin remains a preferred choice for customers, as reflected in our record average monthly transaction user count and the addition of 1,382 net new stores. In line with our commitment to invest in a high-quality supply chain and boost efficiency, we also broke ground in August on our new state-of-the-art Innovation and Production Center in Qingdao, a strategically important economic hub in China. Looking forward, we are focused on continuing to expand our market share by offering innovative, high-quality products, enhancing brand recognition, and expanding our footprint.”