以下文章来源于明亮公司 ，作者主编24小时在线 作者：MD 出品：明亮公司 据「明亮公司」了解，瑞幸咖啡（LKNCY.US）赴美开店选址正在推进中， 目前 已开始接洽相关服 务机构。 另外，招聘网站信息显示，瑞幸咖啡北美正在招聘人力、财务、室内设计、IT运营工程师 等岗位。 以其招聘的"税务经理（Tax Manager）"岗位为例，Indeed网站显示， 这一全职岗位将直接向瑞幸咖 啡的CFO汇报，年薪酬范围在12000-18000美元 ；而另一招聘职位"高级财务经理（Senior Finance Manager）"岗位，同样直接向CFO汇报，年薪自13万美元起、含多项福利。值得注意的是， 以上两 项岗位均要求普通话流利 。 明亮公司 . 追踪新商业、好公司，提供一手情报与领先认知。 据LinkedIn搜索显示，目前一位HR副总监已经于2025年1月份入职。此前社交媒体用户披露，瑞幸 咖啡2024年10月通过猎头开始招聘北美员工。由此可以推测， 目前瑞幸咖啡北美的团队目前仍 在"公司基础设施"团队搭建阶段 。 在2024年第三季度财报，瑞幸咖啡表示，除新加坡市场外，瑞幸也在积极评估在美国和其他市场的 机会。鉴 ...

小鹏汽车表示，已于12月20日在欧洲完成了第10000辆智能纯电汽车的交付，成为第一家完成欧洲交付 破万辆的中国新势力品牌。 小商品城计划2026年跨境支付交易规模100亿美元以上 行业要闻 亚马逊否认要求卖家"二选一" 12月26日，创维汽车宣布，旗下SKYWORTH K RHD右舵车型日前在香港上市。本次新车发布共推出三 款配置：800V超充版、620舒适版以及的士版可供选择。 瑞幸咖啡12月28日起香港五间分店将同步试业，分别位于尖沙咀美丽华广场、将军澳新都城中心、旺角 新之城、沙田中心及上环德辅道中。瑞幸此次进驻香港将以快取店模式为主，结合手机APP落单及付款 的方式。 绝味食品终止H股上市事项 广州国际港首开中越国际铁路货运班列 据新疆霍尔果斯口岸铁路部门数据统计，截至12月24日，今年霍尔果斯口岸通行中欧（中亚）班列已达 8541列，超过去年全年通行的7762列，再创新高。 上汽旗下安吉物流第33艘汽车船入列 小商品城公告，根据《方案》要求，公司将依托chinagoods小商品数字贸易综合服务平台建设，大力推 动进口贸易创新发展，充分发挥义乌综合保税区功能，推动"标准进市场"，建立小商品标准体系， ...

以下文章来源于真故研究室 ，作者尹凯 真故研究室 . 真问题，更商业 精品县城生活。 作者 | 尹 凯 编辑｜龚 正 来源 | 真故研究室 (ID：zhengulab） 2020年播出的电视剧《三十而已》中，王漫妮返回老家县城后，连一杯手磨咖啡都喝不到，溢出屏幕的嫌弃感，让准备返乡的年轻人 望而却步。 如今，县城的商业门面早已天翻地覆。瑞幸、奈雪、蜜雪冰城纷纷下沉。尾随这些大牌其后的，是各种将一线城市业态复制到县城的 区域连锁品牌，包括轻食店、火锅店、零食店等。 降维版的它们，一方面让县城青年吃上了健身餐、喝上了精酿啤酒，过上了能对标一线的"精品级县城生活"，但另一方面，千篇一律 的店头也让县城少了些烟火气，关键是部分实力不佳的品牌，还套牢了返乡创业的年轻人。 精品县城生活： 大城市业态的降维版复制 北漂七年的夏天今年5月回到了老家平顶山——一个GDP 只有2700多亿的地级城市，她给自己留出了一年时间做自媒体创业，虽然不 稳定，但幸福感暴增。 以前，她在北京每月花4300元只能租到一间30平小公寓，但在老家花800元就租到了80平的两室一厅，养的猫也由一只变为了两 只。 夏天最大的爱好就是喝酒。在北京时，她 ...

Nvidia - Nvidia has seen a remarkable 179% increase in share price year to date, establishing itself as a leader in the generative AI industry [2] - The company reported a 94% increase in revenue for Q3 fiscal 2025, reaching $35.1 billion, driven by high demand for its GPUs used in AI applications [3] - Nvidia's forward price-to-earnings (P/E) ratio is 32, which is considered reasonable given its high growth rate [5] Luckin Coffee - Luckin Coffee's shares have decreased by 18% in 2024 due to increased competition and an economic slowdown in China [6] - The company reported a 41% increase in net revenue for Q3, totaling $1.45 billion, but this represents a significant slowdown from the 85% growth rate in the same period of 2023 [7] - Luckin Coffee plans to expand into the U.S. market, targeting major cities with large Chinese student populations, which could help drive future growth [8] - The forward P/E ratio for Luckin Coffee is 14, indicating it is undervalued, especially if the U.S. expansion is successful [9] Comparative Analysis - Nvidia's stock has significantly outperformed Luckin Coffee this year, but concerns exist about the sustainability of consumer-facing AI adoption [10] - Luckin Coffee is positioned for potential better performance in the coming years due to its reasonable valuation and international expansion plans [10]

销售与管理视频号开通啦 欢迎关注并留下您睿智犀利的评论吧 ----------------------------------------- - - 作者： 智先生 来源：智先生（ID：zhixs10） 要说2024年有什么天坑行业排行的话，餐饮业估计能名列前茅。 很多地区的"排队王"都陷入了摆烂的局面，客流量肉眼可见变得稀疏起来，预订率下降，导致营业额也大幅缩水。 有餐饮人在网上自嘲， "开店时身上有二十多万，关店时能去到四十多万，可惜是负债"。 数据是最直观的。 哪怕它们纾尊降贵，推出298、398的"平民套餐"，也依然挡不住大规模关停潮来袭，因为老百姓对米其林评价已经祛魅。 当行业环境不济时，大部分企业首先会考虑加入红海战场，开卷价格大战，虽然"以价换量"不是什么新鲜把戏了，但胜在有用。 一部分餐饮头部借此实现了逆增长，比如像海底捞，萨莉亚、瑞幸咖啡、百胜中国等佼佼者。 不过仔细翻看各上市公司的财报，可以发现一点，能实现同比增长的寥寥无几， 与其说逆增长，不如说维持营收平衡更贴切 。 根据国家统计局数据，今年1-8月份，餐饮收入34998亿元，同比增长6.6%，从大盘来看，还算可以，最起码像房地产、家装 ...

遍布全国的咖啡零售网络正在成型。 随着咖啡越来越成为中国居民的消费日常，咖啡市场的竞争也正在步入一个新阶段：头部品牌加速跑马圈 地、争抢点位不断拓店；价格战越打越热，主流竞争价位下探到 10-15 元。 内卷加速的竞争红海里，瑞幸始终保持了增长态势。 从咖啡的消费场景来看，瑞幸以到店自提和外带居多；而瑞幸大量的点位通常以写字楼、商圈、社区等人 流密集的地方为主，不一定在非常显眼的位置，但却能够覆盖周边的外卖和自提需求，为用户营造一种 "人在哪里，咖啡店就在哪里" 的便于购买的消费环境。 门店网络持续扩张，背后依托的是瑞幸的数字化能力。这让瑞幸能以极低单店成本逆势跑出规模加速度， 反过来摊薄门店成本，实现每一杯咖啡的极致性价比。 优衣库也有类似的做法，将线上线下打通之后，线下门店也成了线上销售的提货点。优衣库在中国线上销 售约占区域营收的四分之一，是全球范围内线上成交占比最大的市场。优衣库希望通过将顾客从门店引导 至电商，再从电商引导至门店，帮助扩大整体销售额。 瑞幸咖啡 CEO 郭谨一曾多次说，数字化能力是瑞幸的核心优势之一，也是瑞幸与传统餐饮企业最显著的 区别。有了后端的数字化系统作为依托，瑞幸的门店也是一 ...

Group 1 - The core point of the article is that Luckin Coffee (LKNCY) reported its Q3 2024 financial results, showing significant growth in revenue and profitability [1] - The total net revenue for Q3 reached 10.181 billion RMB, representing a year-over-year increase of 41.4%, marking the first time quarterly revenue exceeded 10 billion RMB [1] - Under GAAP, the company turned a profit in this quarter, with an operating profit of 1.558 billion RMB and a net profit of 1.303 billion RMB [1] Group 2 - In terms of store expansion, Luckin Coffee opened a net of 1,382 new stores in Q3 [1] - As of the end of Q3, the total number of stores reached 21,343 [1]

Summary of Luckin Coffee's Q3 2024 Earnings Call Company Overview - **Company**: Luckin Coffee - **Quarter**: Q3 2024 Key Financial Highlights - **Total Net Revenue**: RMB 10.81 billion, a year-over-year increase of 41.4% [4] - **Operating Profit**: RMB 1.56 billion, with an operating margin of 15.3% [4] - **Net Profit**: RMB 1.3 billion, reflecting a net margin of 12.8% [4][5] - **Self-Operated Store Profit**: RMB 1.75 billion, with a profit margin of 23.3% [4][5] - **Total Number of Stores**: 21,298, including 13,891 self-operated and 7,407 partnership stores [5][6] - **Cumulative Transaction Customers**: Exceeded 300 million, with an average monthly transaction customer count of 79.85 million [5][8] Business Performance and Strategy - **Growth Momentum**: Continued growth momentum from Q2 2024, with both revenue and profit reaching new heights [4][5] - **Market Expansion**: Focus on deepening domestic store layout and expanding market share to consolidate leading advantages [3][4] - **Product Innovation**: Launched 28 new limited-time beverages and multiple food items, enhancing product offerings [7][8] - **Supply Chain Investment**: Increased investment in supply chain to ensure stable supply for over 20,000 stores [8][10] International Market Insights - **International Expansion**: Continued investment in Singapore with 8 new stores, totaling 45 stores, despite not yet achieving profitability [5][6][28] - **Future Plans**: Exploring opportunities in the U.S. and other markets, with a cautious approach due to market maturity and competition [28][30] - **Learning from International Operations**: Gained valuable experience from operations in Singapore, which will inform future international strategies [28][29] Sustainability and Social Responsibility - **Sustainable Development**: Commitment to sustainable practices in sourcing and production, including training for local coffee farmers [10][12] - **Community Engagement**: Initiatives to support local communities and improve the ecological environment in coffee-producing regions [10][12] Challenges and Outlook - **Market Competition**: Facing heightened competition in the coffee market, which has impacted same-store sales growth (SSG) [23] - **Future Expectations**: Anticipation of improved SSG metrics as the company stabilizes its growth pace and refines its strategies [23] - **Focus on Long-Term Value**: Commitment to optimizing cost structure and enhancing operational efficiency to create sustainable value for stakeholders [21][30] Conclusion - **Management's Commitment**: Management expressed gratitude to employees, customers, and investors, emphasizing the company's focus on growth, innovation, and sustainability [20][30] - **Future Communication**: Plans to provide regular business updates and maintain open communication with stakeholders [30]

Financial Data and Key Metrics - Total net revenue for Q3 2024 reached RMB10.80 billion, a 41.4% year-over-year increase [9] - Operating profit was RMB1.56 billion with an operating margin of 15.3% [9] - Net profit was RMB1.3 billion, reflecting a net margin of 12.8% [9] - Self-operated store operating profit was RMB1.75 billion with a margin of 23.3% [9] - Monthly average transacting customers reached 79.85 million, a new high [10] Business Line Performance - Revenues from product sales totaled RMB7.8 billion, a 46.3% year-over-year increase [25] - Revenues from freshly brewed drinks, the core product category, reached RMB7.2 billion [25] - Revenues from self-operated stores totaled RMB7.5 billion, a 45.9% year-over-year increase [26] - Revenues from partnership stores amounted to RMB2.3 billion, a 27.2% year-over-year increase [26] Market Performance - In Mainland China, the company added 1,374 net new stores, bringing the total to 21,298 stores (13,891 self-operated and 7,407 partnership stores) [10] - In Singapore, the company added 8 new stores, bringing the total to 45 stores [11] - Net revenues from the Singapore market amounted to RMB91.4 million, with costs and expenses totaling RMB167.7 million [27] Strategy and Industry Competition - The company plans to deepen its domestic store layout, increase density in top-tier cities, and extend into lower-tier cities [10] - Internationally, the company will continue steady expansion in Singapore and explore innovative organizational models for international business [11] - The company is committed to sustainable development, enhancing supply chain integration, and increasing investment in premium coffee bean regions [16][17][18] Management Commentary on Environment and Outlook - The company achieved solid growth despite a complex market environment, driven by its unique business model, expanding scale advantage, and product innovations [6] - The company aims to consolidate its leading edge in the domestic market and promote the sustainable development of China's coffee market [7] - The company is optimistic about the rapid development of China's coffee market and believes it will become the world's largest coffee consumption market [48] Other Important Information - The company launched 28 new freshly brewed beverages and several light food products in Q3, including the popular light Jasmine milk tea and Little Butter series [12][13][14] - The company broke ground on a new innovation and production center in Qingdao, which will form a roasting supply network with an annual capacity of 100,000 metric tons [15][16] - The company entered into agreements to purchase approximately 120,000 metric tons of coffee beans from Brazil over the next two years [17] Q&A Session Question: Same-store sales growth (SSG) fluctuations and future outlook - The company attributes SSG fluctuations to rapid store expansion and promotional activities, with self-operated store SSG at -13.1% in Q3 [43] - The company expects SSG to improve as the pace of expansion moderates and price gaps reduce [43] - SSG will remain a key metric for strategic decision-making and store opening strategies [44] Question: Overseas expansion and global capital market strategy - The company views overseas expansion as a long-term goal, with initial focus on Singapore and careful consideration of the U.S. market [47][50][51] - The company acknowledges the challenges of international markets and emphasizes the need for patience and continuous investment [50] - There is no definitive timetable for relisting in U.S. capital markets, with the primary focus remaining on business execution [52]

Revenue Growth - Total net revenues in Q3 2024 were RMB10,180.8 million (US$1,452.1 million), a 41.4% increase from RMB7,200.0 million in Q3 2023[2] - Revenues from self-operated stores in Q3 2024 were RMB7,501.4 million (US$1,069.9 million), a 45.9% increase from RMB5,141.0 million in Q3 2023[3] - Revenues from partnership stores in Q3 2024 were RMB2,341.3 million (US$333.9 million), a 27.2% increase from RMB1,840.8 million in Q3 2023[4] - Net revenues from freshly brewed drinks in Q3 2024 were RMB7,210.8 million (US$1,028.5 million), representing 70.8% of total net revenues, compared to 67.6% in Q3 2023[13] - Total net revenues for the three months ended September 30, 2024, reached RMB 10,180,766 (US$ 1,452,092), a significant increase from RMB 7,200,039 in the same period of 2023[55] - Revenues from product sales for the three months ended September 30, 2024, were RMB 7,839,479 (US$ 1,118,152), compared to RMB 5,359,262 in the same period of 2023[55] Customer Metrics - Average monthly transacting customers in Q3 2024 reached 79.8 million, a 36.5% increase from 58.5 million in Q3 2023[3] - Average monthly transacting customers reached 79,846 thousand in September 2024, up from 29,489 thousand in March 2023[30] Store Performance - Same-store sales growth for self-operated stores in Q3 2024 was negative 13.1%, compared to positive 19.9% in Q3 2023[3] - Store level operating profit margin for self-operated stores in Q3 2024 was 23.3%, compared to 23.1% in Q3 2023[24] - Net new store openings in Q3 2024 were 1,382, resulting in a total of 21,343 stores, including 13,936 self-operated stores and 7,407 partnership stores[2] - Total stores increased to 21,343 as of September 30, 2024, from 9,351 as of March 31, 2023[30] - Self-operated stores increased to 13,936 as of September 30, 2024, from 6,310 as of March 31, 2023[30] - Same-store sales growth for self-operated stores was -13.1% in September 2024, compared to 29.6% in March 2023[30] Profitability and Margins - GAAP operating income in Q3 2024 was RMB1,557.5 million (US$222.1 million), with a GAAP operating margin of 15.3%, compared to RMB961.7 million and a 13.4% margin in Q3 2023[25] - Net income in Q3 2024 was RMB1,302.6 million (US$185.8 million), with a net margin of 12.8%, compared to RMB988.0 million and a net margin of 13.7% in Q3 2023[27] - Non-GAAP net income in Q3 2024 was RMB1,400.8 million (US$199.8 million), with a non-GAAP net margin of 13.8%, compared to RMB1,144.0 million and a non-GAAP net margin of 15.9% in Q3 2023[27] - Net income for the three months ended September 30, 2024, was RMB 1,302,641 (US$ 185,796), compared to RMB 988,011 in the same period of 2023[55] - Operating income for the three months ended September 30, 2024, was RMB 1,557,472 (US$ 222,143), up from RMB 961,724 in the same period of 2023[55] - Total comprehensive income for the three months ended September 30, 2024, was RMB 1,211,645 (US$ 172,817), compared to RMB 987,772 in the same period of 2023[56] - Non-GAAP operating income for the nine months ended September 30, 2024, was RMB 2,811,235 thousand (USD 400,969 thousand), an increase from RMB 2,992,216 thousand in the same period in 2023[58] - Non-GAAP net income for the nine months ended September 30, 2024, was RMB 2,358,758 thousand (USD 336,432 thousand), a decrease from RMB 2,823,035 thousand in the same period in 2023[58] Earnings Per Share - Basic and diluted net income per ADS in Q3 2024 was RMB4.08 (US$0.56), compared to RMB3.12 in Q3 2023[28] - Non-GAAP basic and diluted net income per ADS in Q3 2024 was RMB4.40 (US$0.64), compared to RMB3.60 in Q3 2023[28] - Net income per diluted ADS for the three months ended September 30, 2024, was US$ 0.56, compared to US$ 0.07 in the same period of 2023[55] - Non-GAAP net income per share (basic) for the nine months ended September 30, 2024, was RMB 0.93 (USD 0.13), a decrease from RMB 1.11 in the same period in 2023[59] - Non-GAAP net income per ADS (basic) for the nine months ended September 30, 2024, was RMB 7.44 (USD 1.04), a decrease from RMB 8.88 in the same period in 2023[59] Cash Flow and Financial Position - Net cash provided by operating activities in Q3 2024 was RMB1,316.1 million (US$187.7 million), compared to RMB1,310.1 million in Q3 2023[29] - Cash and cash equivalents, restricted cash, term deposits, and short-term investments were RMB4,753.2 million (US$678.0 million) as of September 30, 2024, compared to RMB3,752.7 million as of December 31, 2023[30] - Cash and cash equivalents as of September 30, 2024, stood at RMB 3,802,087 (US$ 542,295), up from RMB 2,925,709 at the end of 2023[53] - Net cash provided by operating activities for the nine months ended September 30, 2024, was RMB 2,600,897 thousand (USD 370,969 thousand), a decrease from RMB 3,827,171 thousand in the same period in 2023[57] - Net cash used in investing activities for the nine months ended September 30, 2024, was RMB 2,097,443 thousand (USD 299,161 thousand), a decrease from RMB 3,271,026 thousand in the same period in 2023[57] - Net cash provided by financing activities for the nine months ended September 30, 2024, was RMB 300,000 thousand (USD 42,789 thousand), compared to no financing activities in the same period in 2023[57] - Cash and cash equivalents and restricted cash at the end of the period for the nine months ended September 30, 2024, was RMB 3,847,792 thousand (USD 548,814 thousand), an increase from RMB 4,140,971 thousand at the end of the same period in 2023[57] Operating Expenses - Total operating expenses in Q3 2024 were RMB8,623.3 million (US$1,229.9 million), a 38.2% increase from RMB6,238.3 million in Q3 2023[16] - Total operating expenses for the three months ended September 30, 2024, were RMB 8,623,294 (US$ 1,229,949), up from RMB 6,238,315 in the same period of 2023[55] Assets and Liabilities - Total assets as of September 30, 2024, amounted to RMB 22,093,766 (US$ 3,151,255), up from RMB 18,291,978 at the end of 2023[53] - Total liabilities as of September 30, 2024, were RMB 10,082,383 (US$ 1,438,061), compared to RMB 8,577,533 at the end of 2023[51] Share-Based Compensation and Shares Outstanding - Share-based compensation expenses for the nine months ended September 30, 2024, were RMB 268,188 thousand (USD 38,252 thousand), an increase from RMB 179,311 thousand in the same period in 2023[58] - Weighted average shares outstanding used in calculating basic and diluted income per share for the nine months ended September 30, 2024, were 2,545,551,167, an increase from 2,532,072,783 in the same period in 2023[58]