Luckin Coffee(US:LKNCY) Guan Cha Zhe Wang·2025-11-12 13:50Core Insights - Luckin Coffee is actively pursuing a return to the US main board listing under the guidance of the Xiamen municipal government [1][3] - The company has undergone significant restructuring and has established a new management team following a financial fraud scandal that led to its delisting in 2020 [3][4] - Luckin Coffee has achieved substantial growth, entering the top 500 private enterprises in China and becoming the largest coffee chain in the country [3][4] Company Overview - Luckin Coffee was listed on NASDAQ in May 2019 but was delisted in 2020 due to a financial fraud incident [3] - The company has redefined its corporate values and business strategy, claiming to have transformed into a new entity while retaining its original name [3] - As of now, Luckin Coffee operates nearly 30,000 stores, has over 400 million registered users, and employs more than 170,000 staff [3] Financial Performance - For the full year of 2024, Luckin Coffee reported total net revenue of 34.475 billion RMB, a year-on-year increase of 38.4% [4] - The company achieved a GAAP operating profit of 3.538 billion RMB in 2024, reflecting a 16.9% year-on-year growth [4] - In Q2 2025, Luckin Coffee's total net revenue reached 12.359 billion RMB, marking a 47.1% year-on-year increase, with a GAAP operating profit of 1.7 billion RMB, up 61.8% year-on-year [4]