Core Insights - Luckin Coffee reported a net revenue of 15.29 billion RMB for Q3 2025, representing a year-on-year growth of 50% [2] - The company achieved a net profit of 1.28 billion RMB, which is a slight decline of 1.9% year-on-year [2] Revenue and Profit Analysis - The significant increase in net revenue indicates strong demand and effective business strategies [2] - The slight decrease in net profit suggests potential cost pressures or changes in operational efficiency [2] Market Dynamics - CEO Guo Jinyi highlighted that the subsidies in the delivery channel have led to explosive growth in order volume and customer numbers [2] - As subsidies shift towards a more refined approach, the company anticipates challenges and pressures for same-store growth in 2026 [2] - Guo also stated that the delivery model may not be the optimal solution for coffee, indicating a potential shift back to a self-pickup model [2] Strategic Focus - The company is currently focused on executing its business strategy and does not have a clear timeline for returning to the main board of the U.S. capital market [2]