LUCKIN COFFEE INC SP/ADR - LKNCY STOCK NEWS

Luckin Coffee (OTC: LKNCY) announced it will release its third quarter 2024 financial results before U.S. market open on Wednesday, October 30, 2024. The company will host a conference call at 8:00 am Eastern Time (8:00 pm Beijing Time) on the same day to discuss the results and take questions. The earnings release, slides, and webcast will be available on the company's Investor Relations website. A replay of the call will be accessible through November 6, 2024.

Luckin Coffee (OTC: LKNCY) reported Q2 2024 financial results showing net revenues increased by 35.5% to RMB8,402.6 million (US$1,156.2 million). The company achieved a GAAP operating margin of 12.5%, an improvement from the previous quarter.

Key highlights include:

• 1,371 new stores opened, including five in Singapore, ending the quarter with 19,961 stores.
• Average monthly transacting customers surged 61.8% to 69.7 million.
• Revenues from self-operated stores rose 39.6% to RMB6,277.0 million (US$863.7 million).
• However, same-store sales growth for self-operated stores declined by 20.9%.
• GAAP operating income was RMB1,050.7 million (US$144.6 million), down from RMB1,172.8 million the previous year.

The company attributes the decrease in margins to reduced average selling prices and market competition. Luckin Coffee's expansion and increased store footprint aim to enhance market share and product quality.

Luckin Coffee (OTC: LKNCY) has announced it will release its second quarter 2024 financial results on July 30, 2024, before the U.S. market opens. The company will hold a conference call at 8:00 am Eastern Time (8:00 pm Beijing Time) on the same day to discuss the results. Shareholders can submit questions for the earnings call through a dedicated platform. The call will be accessible via various toll-free and international numbers, with a replay available until August 6, 2024. A live and archived webcast of the conference call will also be available on Luckin Coffee's investor relations website.

On May 23, 2024, Luckin Coffee (OTC: LKNCY) announced changes to its Board of Directors. Each director's term is two years, with reappointment possible upon term expiration. The terms of Jinyi Guo, Wenbao Cao, Feng Liu, Yang Cha, Sean Shao, Weihao (Michael) Chen, Shaoqiang (Gary) Liu, Jun Liu, and Qianli Liu expired in May 2024. Yang Cha chose not to seek reappointment but will remain an external strategic advisor. The other directors were reappointed. The Board now includes nine directors, with specific members assigned to the Audit, Compensation, and Nominating and Corporate Governance Committees.

Luckin Coffee Inc. announced a strong first quarter for 2024 with a 41.5% increase in net revenues, a 103.2% rise in average monthly customers, and 2,342 new store openings, reaching a total of 18,590 stores. However, same-store sales for self-operated stores declined by 20.3%. The Company's GAAP operating loss was RMB65.1 million compared to an operating income of RMB678.4 million in the same quarter of 2023. Non-GAAP operating income decreased to RMB5.0 million from RMB730.5 million in Q1 2023.

Luckin Coffee Inc. will announce its first quarter 2024 financial results on April 30, 2024, followed by a conference call to discuss the results. Shareholders can submit questions for the call through a provided link. The management will only address questions submitted via the link during the earnings call.

Luckin Coffee Inc. files its 2023 Annual Report with the SEC, providing audited financial statements for the fiscal year ended December 31, 2023.

Luckin Coffee Inc. reported a substantial increase in net revenues of 87% in fiscal year 2023, with over 8,000 new store openings. The company ended 2023 with more than 16,200 stores in China, showcasing strong growth in store units and customer base. Despite challenges in the coffee industry and seasonal demand fluctuations, Luckin Coffee remains focused on pricing strategies and expansion to drive long-term value.

Luckin Coffee Inc. will release its Q4 and full year 2023 financial results on February 23, 2024. A conference call will be held to discuss the results, with management answering investor questions submitted online. Shareholders can submit questions until the earnings call date.