Luckin Coffee reports Q1 EPS RMB 1.60 vs. (RMB 0.24) last year

Reports Q1 revenue RMB 8.87B vs. RMB 6.28B last year. Dr. Jinyi Guo, CEO, said, “We delivered strong first quarter results, marked by 41% year-over-year revenue growth and healthy margin improvement as we scaled to over 24,000 stores. Notably, our self-operated stores returned to positive same-store sales growth at 8.1%, reflecting rising customer demand as well as the effectiveness of our development strategy. Capitalizing on China’s booming coffee market, we will strategically focus on gaining market share by continuing to offer high-quality products at competitive prices. Backed by our customer-first core values, we strive to strengthen our leadership position through leveraging our scale advantage, high product quality and compelling value proposition, driving long-term sustainable growth.”