On 30^th July, Luckin Coffee announced its financial results for the second quarter of 2024. According to the financial report, the total net income in the second quarter of 2024 was 8.403 billion yuan, an increase of 35.5% over the same period last year, and a new high in single quarter revenue; In the second quarter of 2024, Luckin Coffee's operating profit under US accounting standards (GAAP) was RMB1.051 billion, with an operating margin of 12.5%. Overall, the total net income of Luckin Coffee in the first half of the year reached 14.681 billion yuan, an increase of 38.0%.      

In terms of store expansion, Luckin Coffee adheres to a steady and sustainable development strategy. As of the end of the second quarter, the total number of stores reached 19,961, including 13,056 self-operated stores and 6,905 affiliated stores. As the scale of stores continued to climb, Luckin Coffee, driven by the comprehensive competitiveness of the brand, further consolidated and improved the scale of users in the second quarter, with the average number of monthly transaction customers reaching 69.69 million, an increase of 61.8% compared with 43.07 million in the same period in 2023.

The revenue of Luckin Coffee’s self-owned stores in the second quarter of 2024 was 6.277 billion yuan, an increase of 39.6% compared with 4.495 billion yuan in the same period in 2023. The store-level profit of self-operated stores in the second quarter was Rmb1.351 billion, and the store-level profit margin of self-operated stores was 21.5%. Revenue from affiliated stores in the second quarter was RMB1.850 billion, up 24.5% from RMB1.486 billion in the same period in 2023. From the second quarter, in the context of fierce competition in the domestic market, Luckin Coffee's overall revenue maintained strong growth, and profits returned to a healthy level.