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Luckin Coffee (LKNC) investor relations material
Luckin Coffee Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net revenues reached RMB 12.4 billion in Q2 2025, up 47.1% year-over-year, driven by accelerated store expansion and strong customer growth.
Operating profit rose 61.8% year-over-year to RMB 1.7 billion, with operating margin expanding to 13.8%.
Monthly average transacting customers hit a record 91.7 million, up 32% year-over-year, with over 28.7 million new customers added in the quarter.
Store count reached 26,206 globally, with 2,109 net new stores opened, maintaining market leadership in China and marking milestones in international expansion, including new stores in the U.S.
Product innovation and sustainability initiatives, such as Luckin AI and LEED certifications, contributed to brand strength and customer engagement.
Financial highlights
Gross merchandise value increased 46% year-over-year to RMB 14.2 billion.
Revenues from product sales rose 45% year-over-year to RMB 9.5 billion; freshly brewed drinks accounted for 70% of total net revenues.
Self-operated store revenue grew 45.6% year-over-year to RMB 9.1 billion; same-store sales growth was 13.4%.
Partnership store revenues increased 55% year-over-year to RMB 2.87 billion, representing 23% of total net revenues.
Net profit increased 43.6% to RMB 1.25 billion, with net margin at 10.1%.
Net operating cash inflow exceeded RMB 2.56 billion; cash reserves reached RMB 8.17 billion as of June 30, 2025.
Outlook and guidance
Plans to maintain an industry-leading expansion pace and further strengthen scale advantages, with a focus on product innovation and international growth.
Cautiously optimistic about full-year performance, aiming for high-quality, rapid revenue growth and sustainable profitability.
Will continue to monitor market developments and proactively expand store count to capture industry opportunities.
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