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 reported a total net revenue of 12.777 billion RMB for Q4 2025, representing a year-on-year growth of 32.9% [1] - For the entire year of 2025, total net revenue reached 49.288 billion RMB, marking a 43.0% increase compared to the previous year [1] - The company’s total number of stores reached 31,048 by the end of Q4 2025, with a cumulative transaction customer count exceeding 450 million [1] Financial Performance - In Q4 2025, self-operated store revenue was 9.547 billion RMB, up 32.0% year-on-year, while partner store revenue was 2.847 billion RMB, increasing by 39.2% [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, and partner store revenue was 11.594 billion RMB, growing by 49.7% [1] - The annual 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), 13 in Singapore, 25 in Malaysia, and 4 in the United States [2] - The total number of stores increased by 8,708 in 2025, representing a year-on-year growth of 39.0% [2] - The average monthly transaction customer count for Q4 2025 grew by 26.5% year-on-year, reaching 98.35 million, while the annual average increased by 31.1% to 94.15 million [2] Sustainable Development Initiatives - Luckin Coffee is committed to sustainable development and has integrated these principles into daily operations [2] - The company opened its first barrier-free store in Hangzhou in December 2025, promoting inclusive employment solutions for people with disabilities [2] - Luckin Coffee received the "2025 Best ESG Employer in China" award from Aon Group in December 2025 for its diverse sustainable practices [2] Strategic Focus - The CEO emphasized the company's strong execution in focusing on scale growth, which has led to robust business performance despite changing market conditions [3] - The company aims to continue providing high-quality, cost-effective products that resonate emotionally with customers while expanding its business scale to create long-term value for shareholders [3]