Luckin Coffee reported strong Q3 2024 results with total net revenues reaching RMB10.18 billion ($1.45 billion), up 41.4% YoY. The company added 1,382 net new stores during the quarter, expanding its network to 21,343 stores. Operating income grew to RMB1.56 billion with a 15.3% margin, while average monthly transacting customers increased 36.5% to 79.8 million.Store-level performance showed mixed results with self-operated store margin improving slightly to 23.3%, though same-store sales declined 13.1% YoY. The company maintained strong profitability with net income of RMB1.30 billion ($185.8 million) and a 12.8% net margin. Cash and investments position strengthened to RMB4.75 billion ($678 million).In international expansion, Luckin has grown to 45 self-operated stores in Singapore since 2023 launch, while actively evaluating U.S. market entry. The company's Innovation and Production Center in Qingdao broke ground in August, demonstrating continued investment in supply chain capabilities.

Luckin Coffee reported strong Q3 2024 results with total net revenues reaching RMB10.18 billion ($1.45 billion), up 41.4% YoY. The company added 1,382 net new stores during the quarter, expanding its network to 21,343 stores. Operating income grew to RMB1.56 billion with a 15.3% margin, while average monthly transacting customers increased 36.5% to 79.8 million.Store-level performance showed mixed results with self-operated store margin improving slightly to 23.3%, though same-store sales declined 13.1% YoY. The company maintained strong profitability with net income of RMB1.30 billion ($185.8 million) and a 12.8% net margin. Cash and investments position strengthened to RMB4.75 billion ($678 million).In international expansion, Luckin has grown to 45 self-operated stores in Singapore since 2023 launch, while actively evaluating U.S. market entry. The company's Innovation and Production Center in Qingdao broke ground in August, demonstrating continued investment in supply chain capabilities.