LUCKIN COFFEE INC SP/ADR - LKNCY STOCK NEWS

Luckin Coffee (OTC: LKNCY) will announce its fourth quarter and full year 2022 financial results on March 2, 2023, before the U.S. market opens. The management will host a conference call at 8:00 AM Eastern Time to discuss these results and answer questions submitted by shareholders. Investors can access the call through specified numbers or through a live webcast. The replay will be available until March 9, 2023. This marks an important opportunity for shareholders and analysts to gain insights into the company's financial performance and strategic direction.

Luckin Coffee (OTC: LKNCY) has appointed Mr. Joel A. Getz as an independent director on its Board, expanding it to ten members. Mr. Getz brings extensive experience in institutional development, notably at the Yale School of Management, where he oversees fundraising initiatives. The company aims for sustainable growth, with leadership confident that Mr. Getz's expertise will enhance strategic priorities and deliver long-term value to shareholders.

Luckin Coffee (LKNCY) reported third quarter 2022 net revenues of RMB3,894.6 million (US$547.5 million), a 65.7% increase year-over-year. The company opened 651 new stores, boosting total stores to 7,846. Average monthly transacting customers rose 70.5% to 25.1 million. Operating income transitioned from a loss of RMB6.7 million to a profit of RMB585.3 million (15% margin). The company holds no debt following the redemption of offshore notes, enhancing its liquidity. However, ongoing COVID-19 restrictions led to an increase in store closures, averaging 500 in November 2022.

Luckin Coffee Inc. (OTC: LKNCY) released its Corporate Governance Report for January 1 to September 30, 2022, focusing on corporate innovation and long-term strategic priorities. The report details the enhancement of governance structures, emphasizing core values such as integrity and innovation. Key initiatives include a revamped supervision system, a “Three Lines of Defense” risk management framework, and strict quality control measures. Additionally, the establishment of a Sustainable Development Committee demonstrates the company's commitment to environmental and social governance.

Luckin Coffee (OTC: LKNCY) is set to release its third quarter 2022 financial results before U.S. markets open on November 22, 2022. The company will host a conference call on the same day at 8:00 am ET to discuss the results, where management will address questions submitted by shareholders. Investors can access the call by dialing specified numbers or through the company’s investor relations website. A replay of the call will be available until November 29, 2022.

The Supreme Court of New York has authorized a settlement concerning a class action lawsuit against Luckin Coffee related to the issuance of convertible notes on January 10, 2020. The proposed settlement amounts to $7,000,000 and a hearing will be held on January 31, 2023, to determine its fairness. All individuals who purchased the convertible notes and did not release claims are eligible for the settlement. Claims must be submitted by January 30, 2023, to participate. Defendants deny the allegations but have agreed to the settlement.

Groupe SEB reported a resilient performance in 2022, despite economic challenges including inflation and the Ukraine conflict. Nine-month sales totaled €5,560m, reflecting a slight decline of 0.2%, influenced by high comparisons from 2021. The Operating Result from Activity (ORFA) was €319m, down from €528m in 2021, with a revised full-year revenue guidance of around €7.9 billion. Notably, strong sales performance in China contrasted with declines in France and Germany, which faced market contractions and specific operational challenges. The Group plans a consolidation in the DACH region to enhance competitiveness.

Luckin Coffee Inc. (OTC: LKNCY) announced the full redemption of its US$109.9 million Series B Senior Secured Notes due 2027, totaling US$110.6 million including interest. This redemption, funded from its available offshore cash, aims to optimize the company’s capital structure and terminate the role of scheme supervisors from previously announced Restructuring Support Agreement. The company maintains a robust liquidity position while transitioning from previous oversight, marking a significant milestone in its financial strategy.