Luckin Coffee (LKNC) investor relations material

Executive summary

• Net revenues rose 47% year over year to RMB12.4 billion in Q2 2025, driven by strong store expansion and customer growth.

• Operating profit increased 62% year over year to RMB1.7 billion, with margin expanding to 13.8%.

• Store count reached 26,206, with 2,109 net new stores opened globally, including first two in New York.

• Monthly average transacting customers grew 32% year over year to 91.7 million, with 28.7 million new customers added.

• Product innovation, digital initiatives, and sustainability efforts enhanced brand strength and customer engagement.

Financial highlights

• Net revenues increased 47% year over year to RMB12.4 billion, with GMV up 46% to RMB14.2 billion.

• GAAP operating profit rose 62% to RMB1.7 billion; non-GAAP operating profit up 61% to RMB1.9 billion.

• Net profit increased 44% to RMB1.3 billion; non-GAAP net profit up 44% to RMB1.4 billion.

• Store-level operating profit for self-operated stores was RMB1.92 billion, up 42% year over year; margin at 21%.

• Net operating cash inflow exceeded RMB2.56 billion; cash reserves at RMB8.17 billion as of June 30, 2025.

Outlook and guidance

• Plans to maintain rapid expansion, strengthen scale advantages, and accelerate international growth, especially in the U.S.

• Management remains cautiously optimistic for full-year performance, targeting high-quality revenue growth and healthy profitability.

• Focus on product innovation, digitalization, and leveraging user insights for sustainable long-term growth.