Luckin Coffee(US:LKNCY)2024-04-30 13:23Financial Performance - Total net revenues increased by 103.2% year-over-year[9], reaching RMB 6.3 billion[35] - Store-level operating profit for self-operated stores was RMB (65.1) million[10], with a margin of (1.0)%[20] - Average monthly transacting customers reached 59.9 million[18] Store Expansion - Total store count reached 18,590[21] by the end of 2024Q1[28] - Net new store openings in 2024Q1 totaled 2,342[10], including both self-operated and partnership stores[11] - As of 2024Q1, Luckin Coffee has entered 78 cities in China and 1 overseas market[28] Product and Customer Engagement - Continued product innovation with new SKU launches, including Coconut Milk Latte and Pear Flavored Velvet Latte[23] - 700+ million cups of Coconut Milk Latte sold in three years[23] - 100+ million cups of Orange Americano sold in one year[23] Sustainability Initiatives - Green Coffee Bean Processing Plant with water-efficient coffee cherry processing production lines[24] - Luckin Coffee (Jiangsu) Roasting Plant with a capacity of 30,000 tons per year, featuring sponge city design and solar photovoltaic power generation system[24] - Sustainability throughout all stages of productions and operations[40] Balance Sheet - Cash at bank and on hand amounted to RMB 2,439.1 million[49] - Full redemption of Senior Notes B in 2022Q3, resulting in RMB 0 interest-bearing debt[49]