瑞幸咖啡公布2025年第四季度及全年财报 全年总净收入超492亿元人民币

Core Insights - Luckin Coffee's Q4 2025 total net revenue reached 12.777 billion RMB, a year-on-year increase of 32.9% [1] - For the full year 2025, total net revenue grew by 43.0% to 49.288 billion RMB [1] - The company ended Q4 2025 with a total of 31,048 stores and over 450 million cumulative transaction customers [1] Financial Performance - Q4 2025 self-operated store revenue was 9.547 billion RMB, up 32.0% year-on-year [1] - Q4 2025 joint-operated store revenue was 2.847 billion RMB, reflecting a 39.2% increase [1] - The GAAP operating profit for Q4 2025 was 821 million RMB, with an operating margin of 6.4% [1] - For the full year 2025, self-operated store revenue was 36.243 billion RMB, a 41.6% increase [1] - Joint-operated store revenue for the full year was 11.594 billion RMB, up 49.7% [1] - The full year GAAP operating profit was 5.073 billion RMB, with an operating margin of 10.3% [1] Store Expansion and Customer Growth - In Q4 2025, Luckin Coffee added 1,834 new stores, including 1,792 in China (including Hong Kong) [2] - The total number of stores increased by 8,708 in 2025, marking a 39.0% year-on-year growth [2] - The average monthly transaction customer count in Q4 2025 grew by 26.5% to 98.35 million [2] - For the full year 2025, the average monthly transaction customer count increased by 31.1% to 94.15 million [2] Strategic Initiatives - The company is committed to sustainable development and has integrated sustainability into daily operations [2] - Luckin Coffee opened its first barrier-free store in Hangzhou in December 2025, promoting inclusive employment solutions for people with disabilities [2] - The company received the "2025 Best ESG Employer in China" award from Aon Group in December 2025 [2] Leadership Perspective - The CEO emphasized the strong execution in focusing on scale growth and the ability to seize structural opportunities in the Chinese coffee market [3] - The company aims to continue providing high-quality, cost-effective products that resonate emotionally with customers while expanding its business scale [3]