Chinese café chain Luckin Coffee Inc. has released its unaudited financial results for Q1 2025, reporting significant growth in average monthly transacting customers, store-level operating profit, and overall net revenue.
Overall, Luckin Coffee has reported a total net revenue of more than US$1.22 billion (RMB8,865.4 million), which represents a year-on-year increase of 41.2 per cent when compared to Q1 last year.
Average monthly transacting customers stood at 74.3 million for the quarter at a 24 per cent year-on-year increase, while store-level operating profit surged 244.8 per cent to US$152.3 million.
This huge increase in store-level operating profit could be attributed to the fact 1757 new Luckin Coffee stores opened in the first three months of 2025. Of those stores, 1743 opened in China (including five in Hong Kong), six in Singapore, and eight in Malaysia.
The total number of Luckin Coffee stores now stands at 24,097 as of 31 March 2025. 15,598 of these are self-operated stores, while 8499 are partnership stores.
Co-Founder and CEO of Luckin Coffee Dr Jinyi Guo says added consumer interest in the Chinese coffee market will continue to bolster Luckin’s expanding market share interests.
“We delivered strong first quarter results, marked by a 41 per cent year-on-year revenue growth and healthy margin improvement as we scaled to over 24,000 stores,” Guo says.
“Notably, our self-operated stores returned to positive same-store sales growth at 8.1 per cent reflecting rising customer demand as well as the effectiveness of our development strategy.
“Capitalising on China’s booming coffee market, we will strategically focus on gaining market share by continuing to offer high-quality products at competitive prices.”
Included in the unaudited financial release was a statement that Guo will no longer serve as Chairman of the Board, effective 29 April 2025. He will remain the company’s CEO and a Board member, and will be replaced as Chair by former Director Hui Li.
Li is currently the Chairman and CEO of Centurium Capital, Luckin Coffee’s largest shareholder.
“I am honoured to rejoin the Board and take on the role of Chairman at this important time for Luckin Coffee,” Li says.
