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12、 t rauQ h t ruoF s t luseR l a i cnaniF 4202 raeY l acs iF dna re t rauQ ht ruoF secnuonnA ee f foC nikcuL FISCAL YEAR 2024 HIGHLIGHTS Total net revenues were RMB34,474.8 million(US$4,723.9 million),representing a 38.4%year-over-year increase.Net new store openings were 6,092,comprising 6,071 stores

13、 in China(including 5 stores in Hong Kong)and 21 stores in Singapore.Total number ofstores increased by 37.5%year-over-year to 22,340,comprising 14,591 self-operated stores and 7,749 partnership stores.Average monthly transacting customers were 71.8 million,representing a 48.5%year-over-year increas

14、e.Revenues from self-operated stores were RMB25,591.7 million(US$3,506.7 million),representing a 43.1%year-over-year increase.Same-store sales growth for self-operated stores was negative 16.7%,compared to 21.0%in fiscal year 2023.Store-level operating profit self-operated stores was RMB4,836.4 mill

15、ion(US$662.7 million),representing a 21.7%year-over-year increase.Store-level operating profit margin was 18.9%,compared to 22.2%in the fiscal year 2023.Revenues from partnership stores were RMB7,745.3 million(US$1,061.3 million),representing a 24.4%year-over-year increase.GAAP operating income was

16、RMB3,538.1 million(US$484.8 million),representing a 16.9%year-over-year increase.GAAP operating margin of10.3%,compared to 12.1%in the fiscal year 2023.Non-GAAP operating income,which adjusts for share-based compensation expenses,wasRMB3,902.9 million(US$534.8 million),representing a 19.5%year-over-

17、year increase.Non-GAAP operating margin was 11.3%,compared to 13.1%in the fiscal year 2023.Dr.Jinyi Guo,Chairman and Chief Executive Officer of Luckin Coffee,said,“The year 2024 has been pivotal for us,demonstrating our robust growth andexpanded leadership in the coffee industry amid a dynamic marke

18、t environment.We delivered solid fourth quarter results,with same-store sales growth forself-operated stores notably improving to negative 3.4%from negative 13.1%in the prior quarter.More encouragingly,this metric turned positive inDecember 2024.Supported by our expanding customer base and extensive

19、 network of 22,340 stores,we recorded a strong 36.1%year-over-year revenuegrowth alongside a double-digit operating margin for the quarter.Looking ahead,we are strategically positioned to capitalize on the growth opportunities inChinas thriving coffee market,bolstered by our unparalleled scale and p

20、owerful supply chain,enabling us to consistently deliver innovative,high-qualityproducts to our growing clientele.”FOURTH QUARTER 2024 FINANCIAL RESULTS Total net revenues were RMB9,613.3 million(US$1,317.2 million),representing an increase of 36.1%from RMB7,065.0 million in the same quarter of2023.

21、Net revenue growth was primarily driven by an increase in the number of products sold resulting from growth in(i)the number of stores in operationas well as(ii)monthly transacting customers.Revenues from product sales were RMB7,567.5 million(US$1,036.9 million),representing an increase of 42.7%from

22、RMB5,301.2 million in thesame quarter of 2023.Net revenues from freshly brewed drinks increased to RMB6,924.5 million(US$948.8 million)from RMB4,838.9 million in the same quarter of2023.This revenue stream accounted for 72.0%of total net revenues,compared to 68.5%in the same quarter of 2023.Net reve

23、nues from other products increased to RMB496.0 million(US$68.0 million)from RMB326.3 million in the same quarter of 2023.Thisrevenue stream accounted for 5.2%of total net revenues,compared to 4.6%in the same quarter of 2023.Net revenues from others increased to RMB147.0 million(US$20.1 million)from

24、RMB136.1 million in the same quarter of 2023.This revenuestream accounted for 1.5%of total net revenues,compared to 1.9%in the same quarter of 2023.Revenues from partnership stores were RMB2,045.8 million(US$280.3 million),representing an increase of 16.0%from RMB1,763.8 million in thesame quarter o

25、f 2023.This revenue stream accounted for 21.3%of total net revenues,compared to 25.0%in the same quarter of 2023.Revenues frompartnership stores included sales of materials of RMB1,425.8 million(US$195.4 million),profit sharing of RMB233.5 million(US$32.0 million),delivery service fees of RMB214.0 m

26、illion(US$29.3 million),sales of equipment of RMB152.5 million(US$20.9 million),and franchise and otherservice fees of RMB20.0 million(US$2.7 million).2 Total operating expenses were RMB8,618.3 million(US$1,180.9 million),representing an increase of 25.8%from RMB6,852.3 million in the same quarterof

27、 2023.The increase primarily resulted from the Companys business expansion.Meanwhile,operating expenses as a percentage of total net revenues was89.6%,markedly lower than 97.0%in the same quarter of 2023.The improvement was mainly due to the decrease of cost of materials as a percentage oftotal net

28、revenues as a result of the Companys supply chain strength and product mix changes.Cost of materials were RMB3,847.2 million(US$527.2 million),representing an increase of 9.6%from RMB3,509.5 million in the same quarter of2023.The increase was mainly due to increases in(i)the number of products sold

29、and(ii)sales of materials to partnership stores,partially offset by thedecrease in costs related to sales of equipment to partnership stores as a result of a slower pace of net new store openings.Store rental and other operating costs were RMB2,372.3 million(US$325.1 million),representing an increas

30、e of 39.4%from RMB1,702.0 million inthe same quarter of 2023.The increase mainly resulted from the increased number of stores and items sold which led to year-over-year increases in(i)labor costs,(ii)store rental costs as well as(iii)utilities and other store operating costs.Depreciation and amortiz

31、ation expenses were RMB331.8 million(US$45.5 million),representing an increase of 59.3%from RMB208.3 million inthe same quarter of 2023.The increase was mainly due to increases in(i)amortization of leasehold improvements for the stores and(ii)depreciationexpenses of additional equipment put into use

32、 in new stores.Delivery expenses were RMB838.7 million(US$114.9 million),representing an increase of 79.4%from RMB467.4 million in the same quarter of 2023.The increase was mainly due to the increase in the number of delivery orders.Sales and marketing expenses were RMB572.9 million(US$78.5 million)

33、,representing an increase of 43.5%from RMB399.1 million in the samequarter of 2023.The increase was mainly driven by increases in(i)advertising and other promotion expenses as the Company continued to makestrategic investments in its branding through various channels,and(ii)commissions to third-part

34、y food delivery platforms.Sales and marketingexpenses as a percentage of total net revenues was 6.0%,compared to 5.6%in the same quarter of 2023.General and administrative expenses were RMB637.6 million(US$87.4 million),representing an increase of 13.4%from RMB562.0 million in thesame quarter of 202

35、3.The increase was mainly driven by increases in(i)research and development expenses,(ii)share-based compensation forrestricted share units and options issued to management and employees,and(iii)professional fees,which was partially offset by decreases in payrollcosts for general and administrative

36、staff as well as in allowance provided for current expected credit loss.General and administrative expenses as apercentage of total net revenues was 6.6%,compared to 8.0%in the same quarter of 2023.Store preopening and other expenses were RMB13.6 million(US$1.9 million),representing a decrease of 70

37、.1%from RMB45.5 million in the samequarter of 2023.The decrease was mainly due to fewer stores preparing to be opened compared to the same quarter of 2023.Store preopening and otherexpenses as a percentage of total net revenues was 0.1%,compared to 0.6%in the same quarter of 2023.Losses and expenses

38、 related to Fabricated Transactions and Restructuring were RMB4.2 million(US$0.6 million),compared to negative RMB41.5million in the same period of 2023,as in the fourth quarter of 2023,the Company reversed approximately USD6.3 million(RMB44.7 million)previously accrued expenses following the settle

39、ment with certain underwriters relating to indemnification of defense costs,including but not limited toattorneys fees and expenses incurred in connection with government inquiries and litigation relating to the Fabricated Transactions.Store-level operating profit margin self-operated stores was 19.

40、6%,expanding by 610 basis points from 13.5%in the same quarter of 2023.GAAP operating income was RMB995.0 million(US$136.3 million),representing an increase of 367.8%from RMB212.7 million in the same quarter of2023.GAAP operating margin increased by 740 basis points to 10.4%from 3.0%in the same quar

41、ter of 2023.Non-GAAP operating income wasRMB1,091.7 million(US$149.6 million),representing an increase of 300.0%from RMB272.9 million in the same quarter of 2023.Non-GAAP operatingmargin increased by 750 basis points to 11.4%from 3.9%in the same quarter of 2023.For more information on the Companys n

42、on-GAAP financialmeasures,please see the section“Use of Non-GAAP Financial Measures”and the table captioned“Reconciliation of Non-GAAP Measures to the MostDirectly Comparable GAAP Measures”set forth at the end of this press release.3 Income tax expenses were RMB144.5 million(US$19.8 million),compare

43、d to an income tax benefit of RMB31.3 million in the same quarter of 2023.Thetax benefit in the same period of last year was mainly due to release of valuation allowance against deferred tax assets in certain operation entities.Inaccordance with relevant accounting standards,the Company continuously

44、 re-evaluates the realization of deferred tax assets by quarter given the largelyreduced uncertainty of the Companys business performance after a certain number of the Companys operation entities have turned cumulative losses intocumulative profits.Net income was RMB841.1 million(US$115.3 million),r

45、epresenting an increase of 183.8%from RMB296.4 million in the same quarter of 2023.Netmargin expanded by 450 basis points to 8.7%from 4.2%in the same quarter of 2023.Non-GAAP net income was RMB927.9 million(US$127.1 million),representing an increase of 164.3%from RMB351.1 million in the same quarter

46、 of 2023.Non-GAAP net margin expanded by 470 basis points to 9.7%from5.0%in the same quarter of 2023.Basic and diluted net income per ADS was RMB2.64(US$0.40)and RMB2.64(US$0.40),respectively,compared to RMB0.96 and RMB0.96 in the samequarter of 2023,respectively.Non-GAAP basic and diluted net incom

47、e per ADS was RMB2.88(US$0.40)and RMB2.88(US$0.40),respectively,compared to RMB1.12 and RMB1.12in the same quarter of 2023,respectively.Net cash provided by operating activities was RMB1,628.4 million(US$223.1 million),compared to net cash used in operating activities of RMB926.7million in the same

48、quarter of 2023.Cash and cash equivalents,restricted cash,term deposits and short-term investments were RMB5,934.2 million(US$813.1 million)as ofDecember 31,2024,compared to RMB3,752.7 million as of December 31,2023.The increase was primarily attributable to the cash inflow generated fromthe Company

49、s operations.4 KEY OPERATING DATA For the three months ended or as of Jun 30,Sep 30,Dec 31,Mar 31,Jun 30,Sep 30,Dec 31,2023 2023 2023 2024 2024 2024 2024 Total stores 10,836 13,273 16,248 18,590 19,961 21,343 22,340 Self-operated stores 7,188 8,807 10,628 12,199 13,056 13,936 14,591 Partnership stor

50、es 3,648 4,466 5,620 6,391 6,905 7,407 7,749 Same-store sales growth forself-operated stores 20.8%19.9%13.5%(20.3)%(20.9)%(13.1)%(3.4)%Average monthly transactingcustomers(in thousands)43,070 58,477 62,438 59,914 69,689 79,846 77,766 KEY DEFINITIONS Total net revenues include revenues from product s

51、ales and revenues from partnership stores.Revenues from product sales mainly include net revenue from the sales of freshly brewed and non-freshly brewed items through self-operated stores,unmanned machines,e-commerce and revenue from delivery for self-operated stores.Revenues from self-operated stor

52、es include net revenue from the sales of freshly brewed and non-freshly brewed items through self-operated stores,and delivery fees derived from self-operated stores paid by the Companys customers.Before the first quarter of 2023,revenues from self-operatedstores only included net revenue from the s

53、ales of freshly brewed and non-freshly brewed items through self-operating stores,and beginning from thefirst quarter of 2023,we added delivery fees derived from self-operated stores paid by the Companys customers to this definition.Revenues from partnership stores include net revenue from the sales

54、 of materials,equipment,delivery services,profit sharing,franchise and otherservices from partnership stores.Same-store sales growth for self-operated stores.Defined as the growth rate of total revenue from self-operated stores that(i)were in operation at thebeginning of the comparable period and we

55、re not closed before the end of the current period and(ii)maintained an average of at least 15 operating daysper month over both the current and comparable periods.Store level operating profit self-operated stores.Calculated by deducting cost for self-operated stores including cost of direct materia

56、ls(includingwastage in stores),cost of delivery packaging materials,storage and logistics expenses,commissions to third-party delivery platforms related torevenues from self-operated stores,store depreciation expense(including decoration loss for store closure),store rental and other operating costs

57、,delivery expense,transaction fees,store preopening and other expenses from the Companys self-operated store revenues.Store-level operating profit margin self-operated stores.Calculated by dividing store-level operating profit by total revenues from self-operatedstores.Total number of stores.The num

58、ber of stores open at the ending of the period,excluding unmanned machines.Net new store openings.The number of gross new stores opened during the period minus the number of stores permanently closed during the period.Average monthly transacting customers.The total of each months number of transacti

59、ng customers divided by the number of months during theperiod(includes those of partnership stores and those only paid with free-coupons).Non-GAAP operating income/(loss).Calculated by operating income/(loss)excluding share-based compensation expenses.Non-GAAP net income/(loss).Calculated by net inc

60、ome/(loss)excluding recurring item of share-based compensation expenses,non-recurring item ofprovision for equity litigants,and income tax effects of GAAP to non-GAAP reconciling items.From the fourth quarter of 2024,the Company addedincome tax effects of GAAP to non-GAAP reconciling items when reco

61、nciling adjustments from GAAP to Non-GAAP net income/(loss).Comparativefigures were also adjusted accordingly.Non-GAAP net income/(loss)attributable to the Companys ordinary shareholders.Calculated by adjusting net income/(loss)attributable to theCompanys ordinary shareholders excluding recurring it

62、em of share-based compensation expenses,non-recurring item of provision for equity litigants,and income tax effects of GAAP to non-GAAP reconciling items.From the fourth quarter of 2024,the Company added income tax effects of GAAP tonon-GAAP reconciling items when reconciling adjustments from GAAP t

63、o Non-GAAP net income/(loss)attributable to the Companys ordinaryshareholders.Comparative figures were also adjusted accordingly.Non-GAAP basic and diluted net income/(loss)per shares.Calculated as non-GAAP net income/(loss)attributable to the Companys ordinaryshareholders divided by weighted averag

64、e number of basic and diluted share.Non-GAAP basic and diluted net income/(loss)per ADSs.Calculated as non-GAAP net income/(loss)attributable to the Companys ordinaryshareholders divided by weighted average number of basic and diluted ADS.5 USE OF NON-GAAP FINANCIAL MEASURES In evaluating the busine

65、ss,the Company considers and uses non-GAAP operating income/(loss)and non-GAAP net income/(loss),each a non-GAAPfinancial measure,in reviewing and assessing the Companys operating performance.The presentation of these non-GAAP financial measures is notintended to be considered in isolation or as a s

66、ubstitute for the financial information prepared and presented in accordance with U.S.GAAP.The Companypresents these non-GAAP financial measures because they are used by the Companys management to evaluate operating performance and formulatebusiness plans.The Company believes that the non-GAAP finan

67、cial measures help identify underlying trends in the Companys business,provide furtherinformation about the Companys results of operations and enhance the overall understanding of the Companys past performance and future prospects.The non-GAAP financial measures are not defined under U.S.GAAP and ar

68、e not presented in accordance with U.S.GAAP.The non-GAAP financialmeasures have limitations as analytical tools.The Companys non-GAAP financial measures do not reflect all items of income and expense that affect theCompanys operations and do not represent the residual cash flow available for discret

69、ionary expenditures.Furthermore,these non-GAAP measures maydiffer from the non-GAAP information used by other companies,including peer companies,and therefore their comparability may be limited.The Companycompensates for these limitations by reconciling the non-GAAP financial measures to the nearest

70、 U.S.GAAP performance measure,all of which should beconsidered when evaluating the Companys performance.The Company encourages investors and others to review the Companys financial information inits entirety and not rely on a single financial measure.The Company defines non-GAAP operating income/(lo

71、ss)as operating income/(loss)excluding share-based compensation expenses,non-GAAP netincome/(loss)as net income/(loss)excluding recurring item of share-based compensation expenses,non-recurring item of provision for equity litigants,andincome tax effects of GAAP to non-GAAP reconciling items,and non

72、-GAAP net income/(loss)attributable to the Companys ordinary shareholders as netincome/(loss)attributable to the Companys ordinary shareholders excluding recurring item of share-based compensation expenses,non-recurring item ofprovision for equity litigants,and income tax effects of GAAP to non-GAAP

73、 reconciling items.For more information on the non-GAAP financial measures,please see the table captioned“Reconciliation of Non-GAAP Measures to the Most DirectlyComparable GAAP Measures”set forth at the end of this earnings release.EXCHANGE RATE INFORMATION This earnings release contains translatio

74、ns of certain RMB amounts into U.S.dollars(“US$”)at specified rates solely for the convenience of the reader.Unless otherwise noted,all translations from RMB to US$were made at the rate of RMB7.2980 to US$1.00,the exchange rate on December 27,2024 setforth in the H.10 statistical release of the Fede

75、ral Reserve Board.The Company makes no representation that the RMB or US$amounts referred could beconverted into US$or RMB,as the case may be,at any particular rate or at all.6 CONFERENCE CALL The Company will hold a conference call today,on Thursday,February 20,2025,at 8:00 am Eastern Time(or Thurs

76、day,February 20,2025,at 9:00 pmBeijing Time)to discuss the financial results.Participants may access the call by dialing the following numbers:United States Toll Free:+1-888-317-6003International:+1-412-317-6061Mainland China Toll Free:400-120-6115Hong Kong Toll Free:800-963-976Conference ID:2917006

77、 The replay will be accessible through February 27,2025,by dialing the following numbers:United States Toll Free:+1-877-344-7529International:+1-412-317-0088Access Code:5297842 A live and archived webcast of the conference call will also be available at the Companys investor relations website at .SA

78、FE HARBOR STATEMENTS This earnings release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934,as amended.Theseforward-looking statements are made under the“safe harbor”provisions of the U.S.Private Securities Litigation Reform Act of 1995.The

79、se statements canbe identified by terminology such as“will,”“expects,”“anticipates,”“future,”“intends,”“plans,”“believes,”“estimates,”“potential,”“continue,”“ongoing,”“targets,”“guidance”and similar statements.Luckin Coffee may also make written or oral forward-looking statements in its periodic rep

80、orts tothe U.S.Securities and Exchange Commission(the“SEC”),in its annual report to shareholders,in press releases and other written materials and in oralstatements made by its officers,directors or employees to third parties.Any statements that are not historical facts,including statements about Lu

81、ckinCoffees beliefs and expectations,are forward-looking statements.Forward-looking statements involve inherent risks and uncertainties.A number of factorscould cause actual results to differ materially from those contained in any forward-looking statement,including but not limited to the following:

82、the expense,timing and outcome of existing or future legal and governmental proceedings or investigations in connection with Luckin Coffee;the outcome and effect ofthe restructuring of Luckin Coffees financial obligations;Luckin Coffees growth strategies;its future business development,results of op

83、erations andfinancial condition;the effect of the non-reliance identified in,and the resultant restatement of,certain of Luckin Coffees previously issued financial results;the effectiveness of its internal control;its ability to retain and attract its customers;its ability to maintain and enhance th

84、e recognition and reputation of itsbrand;its ability to maintain and improve quality control policies and measures;its ability to establish and maintain relationships with its suppliers andbusiness partners;trends and competition in the coffee industry or the food and beverage sector in general;chan

85、ges in its revenues and certain cost orexpense items;the expected growth of Chinas coffee industry or Chinas food and beverage sector in general;governmental policies and regulations relatingto Luckin Coffees industry;and general economic and business conditions globally and in China and assumptions

86、 underlying or related to any of theforegoing.Further information regarding these and other risks,uncertainties or factors is included in Luckin Coffees filings with the SEC.All informationprovided in this press release and in the attachments is as of the date of this press release,and Luckin Coffee

87、 undertakes no obligation to update any forward-looking statement,except as required under applicable law.7 STATEMENT REGARDING PRELIMINARY UNAUDITED FINANCIAL INFORMATION The unaudited financial information set out in this earnings release is preliminary and subject to potential adjustments.Adjustm

88、ents to the consolidatedfinancial statements may be identified when audit work has been performed for the Companys year-end audit,which could result in significant differencesfrom this preliminary unaudited financial information.Accordingly,you should not place undue reliance upon these preliminary

89、estimates.The preliminaryunaudited financial information included in this press release has been prepared by,and is the responsibility of,the Companys management.The Companysauditor has not audited,reviewed,compiled or applied agreed-upon procedures with respect to such preliminary financial data.Ac

90、cordingly,the Companysauditor does not express an opinion or any other form of assurance with respect thereto.Upon completion of the year-end audit,the Companys auditedfinancial results may differ materially from its preliminary estimates.ABOUT LUCKIN COFFEE INC.Luckin Coffee Inc.(OTC:LKNCY)has pion

91、eered a technology-driven retail network to provide coffee and other products of high quality,high convenienceand high affordability to customers.Empowered by proprietary technologies,Luckin Coffee pursues its mission to build a world-class coffee brand andbecome a part of everyones daily life.Lucki

92、n Coffee was founded in 2017 and is based in China.For more information,please visit .INVESTOR AND MEDIA CONTACTS Investor Relations ContactLuckin Coffee IREmail: Bill ZimaICRPhone:646 880 9039 Media Relations ContactLuckin Coffee PREmail: 8 LUCKIN COFFEE INC.UNAUDITED CONDENSED CONSOLIDATED BALANCE

93、 SHEETS(Amounts in thousands of RMB and US$,except for number of shares)As of December 31,December 31,2024 2023 (Unaudited)RMB RMB US$ASSETS Current assets:Cash and cash equivalents 2,925,709 4,362,309 597,740 Restricted cash 66,080 3,781 518 Term deposit-current 464,019 1,127,541 154,500 Short-term

94、 investment 100,000 250,000 34,256 Accounts receivable,net 80,665 111,251 15,244 Receivables from online payment platforms 214,163 438,458 60,079 Inventories,net 2,204,000 2,473,393 338,914 Prepaid expenses and other current assets,net 1,544,918 1,938,054 265,560 Total current assets 7,599,554 10,70

95、4,787 1,466,811 Non-current assets:Property and equipment,net 4,169,141 5,065,903 694,149 Restricted cash 46,854 40,595 5,562 Term deposit-non current 150,000 150,000 20,554 Other non-current assets,net 789,492 929,165 127,318 Deferred tax assets,net 350,082 271,601 37,216 Operating lease,right-of-u

96、se assets 5,186,855 5,937,063 813,519 Total non-current assets 10,692,424 12,394,327 1,698,318 TOTAL ASSETS 18,291,978 23,099,114 3,165,129 LIABILITIES,MEZZANINE EQUITY AND SHAREHOLDERS EQUITY Current liabilities Short-term bank borrowing -300,000 41,107 Accounts payable 814,655 738,677 101,216 Accr

97、ued expenses and other liabilities 2,556,977 3,027,503 414,840 Deferred revenues 123,422 153,248 20,998 Payable for equity litigants settlement 116,314 119,560 16,383 Operating lease liabilities-current 1,851,310 2,343,387 321,100 Total current liabilities 5,462,678 6,682,375 915,644 Non-current lia

98、bilities:Long-term bank borrowing -33,600 4,604 Operating lease liabilities-non current 3,114,855 3,330,529 456,362 Total non-current liabilities 3,114,855 3,364,129 460,966 Total liabilities 8,577,533 10,046,504 1,376,610 Commitments and contingencies Mezzanine equity Senior Preferred Shares 1,578,

99、040 1,514,660 207,545 Shareholders equity:Class A Ordinary shares 23 24 3 Class B Ordinary shares 2 2 0 Additional paid-in capital 16,276,991 16,705,240 2,289,016 Statutory reserves 168,204 365,927 50,141 Accumulated deficits (8,705,759)(5,971,779)(818,276)Accumulated other comprehensive income 396,

100、944 438,536 60,090 Total Companys ordinary shareholders equity 8,136,405 11,537,950 1,580,974 TOTAL LIABILITIES,MEZZANINE EQUITY AND SHAREHOLDERS EQUITY 18,291,978 23,099,114 3,165,129 9 LUCKIN COFFEE INC.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME(Amounts in t

101、housands of RMB and US$,except for number of shares and per sharedata)For the three months ended December 31,For the year ended December 31,2023 2024 2023 2024 RMB RMB US$RMB RMB US$Net revenues:Revenues from product sales 5,301,221 7,567,491 1,036,926 18,677,390 26,729,523 3,662,582 Revenues from p

102、artnership stores 1,763,750 2,045,786 280,321 6,225,776 7,745,291 1,061,290 Total net revenues 7,064,971 9,613,277 1,317,247 24,903,166 34,474,814 4,723,872 Cost of materials (3,509,485)(3,847,193)(527,157)(10,892,214)(14,115,299)(1,934,133)Store rental and other operating costs (1,701,969)(2,372,30

103、4)(325,062)(5,167,482)(8,540,683)(1,170,277)Depreciation and amortization expenses (208,324)(331,822)(45,468)(604,580)(1,190,037)(163,063)Delivery expenses (467,363)(838,663)(114,917)(2,010,699)(2,821,069)(386,554)Sales and marketing expenses (399,113)(572,893)(78,500)(1,286,523)(1,920,305)(263,128)

104、General and administrative expenses (561,997)(637,570)(87,362)(1,829,651)(2,420,462)(331,661)Store preopening and other expenses (45,462)(13,580)(1,861)(109,685)(69,556)(9,531)Impairment loss of long-lived assets -(5,229)(8,925)(1,223)Losses and expenses related to FabricatedTransactions and Restruc

105、turing 41,455 (4,238)(581)28,515 149,583 20,496 Total operating expenses (6,852,258)(8,618,263)(1,180,908)(21,877,548)(30,936,753)(4,239,074)Operating income 212,713 995,014 136,339 3,025,618 3,538,061 484,798 Interest and investment income 31,358 34,457 4,721 108,682 89,195 12,222 Interest and fina

106、ncing expenses -(1,917)(263)-(3,924)(538)Foreign exchange gain/(loss),net 3,089 (52,121)(7,142)2,968 (13,239)(1,814)Other income,net 17,974 10,205 1,398 62,283 84,161 11,532 Provision for equity litigants -(92,192)-Net income before income taxes 265,134 985,638 135,053 3,107,359 3,694,254 506,200 In

107、come tax(expense)/benefit 31,267 (144,505)(19,801)(259,426)(762,551)(104,488)Net income 296,401 841,133 115,252 2,847,933 2,931,703 401,712 Net income attributable to theCompanys ordinary shareholders 296,401 841,133 115,252 2,847,933 2,931,703 401,712 Net income per share:Basic 0.12 0.33 0.05 1.12

108、1.15 0.16 Diluted 0.12 0.33 0.05 1.12 1.15 0.16 Net income per ADS:Basic*0.96 2.64 0.40 8.96 9.20 1.28 Diluted*0.96 2.64 0.40 8.96 9.20 1.28 Weighted average shares outstandingused in calculating basic and dilutedincome per share:Basic 2,532,219,287 2,547,212,673 2,547,212,673 2,532,109,710 2,545,96

109、8,813 2,545,968,813 Diluted 2,532,343,852 2,549,183,737 2,549,183,737 2,532,563,302 2,548,002,050 2,548,002,050 Net income 296,401 841,133 115,252 2,847,933 2,931,703 401,712 Other comprehensive income/(loss),netof tax of nil:Foreign currency translation difference,netof tax of nil (2,766)103,435 14

110、,173 (360)41,592 5,699 Total comprehensive income 293,635 944,568 129,425 2,847,573 2,973,295 407,411 Total comprehensive income attributableto ordinary shareholders 293,635 944,568 129,425 2,847,573 2,973,295 407,411 *Each ADS represents eight Class A Ordinary Shares.The per ADS indicators are base

111、d on rounded results of corresponding per ordinary share indicators,which could have a rounding difference of absolute amount for not more than 0.04 per ADS.10 LUCKIN COFFEE INC.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Amounts in thousands of RMB and US$)For the three months ended D

112、ecember 31,For the year ended December 31,2023 2024 2023 2024 RMB RMB US$RMB RMB US$Net cash provided by/(used in)operatingactivities (926,746)1,628,375 223,125 2,900,425 4,229,272 579,510 Net cash used in investing activities (176,073)(1,112,363)(152,420)(3,447,099)(3,209,806)(439,820)Net cash prov

113、ided by financing activities -33,600 4,604 -333,600 45,711 Effect of foreign exchange rate changes oncash and cash equivalents and restrictedcash 491 9,281 1,272 7,398 14,976 2,052 Net increase/(decrease)in cash and cashequivalents and restricted cash (1,102,328)558,893 76,581 (539,276)1,368,042 187

114、,453 Cash and cash equivalents and restrictedcash at beginning of period 4,140,971 3,847,792 527,239 3,577,919 3,038,643 416,367 Cash and cash equivalents and restrictedcash at end of period 3,038,643 4,406,685 603,820 3,038,643 4,406,685 603,820 11 LUCKIN COFFEE INC.RECONCILIATION OF NON-GAAP MEASU

115、RES TO THE MOST DIRECTLY COMPARABLE GAAP MEASURES(Unaudited,amounts in thousands of RMB and US$,except for number of shares and per share data)For the three months ended December 31,For the year ended December 31,2023 2024 2023 2024 RMB RMB US$RMB RMB US$A.Non-GAAP operating income Operating income

116、212,713 995,014 136,339 3,025,618 3,538,061 484,798 Adjusted for:Share-based compensation expenses 60,195 96,658 13,245 239,506 364,846 49,992 Non-GAAP operating income 272,908 1,091,672 149,584 3,265,124 3,902,907 534,790 B.Non-GAAP net income Net income 296,401 841,133 115,252 2,847,933 2,931,703

117、401,712 Adjusted for:Share-based compensation expenses 60,195 96,658 13,245 239,506 364,846 49,992 Provision for equity litigants -92,192 -Income tax effects of GAAP to non-GAAPreconciling items (5,529)(9,842)(1,349)(5,529)(9,842)(1,349)Non-GAAP net income 351,067 927,949 127,148 3,174,102 3,286,707

118、 450,355 Non-GAAP net income attributable tothe Companys ordinary shareholders 351,067 927,949 127,148 3,174,102 3,286,707 450,355 C.Non-GAAP net income per share Weighted average shares outstandingused in calculating basic and dilutedincome per share:Basic 2,532,219,287 2,547,212,673 2,547,212,673

119、2,532,109,710 2,545,968,813 2,545,968,813 Diluted 2,532,343,852 2,549,183,737 2,549,183,737 2,532,563,302 2,548,002,050 2,548,002,050 Non-GAAP net income per share:Basic 0.14 0.36 0.05 1.25 1.29 0.18 Diluted 0.14 0.36 0.05 1.25 1.29 0.18 Non-GAAP net income per ADS:Basic*1.12 2.88 0.40 10.00 10.32 1.44 Diluted*1.12 2.88 0.40 10.00 10.32 1.44 *Each ADS represents eight Class A Ordinary Shares.The per ADS indicators are based on rounded results of corresponding per ordinary share indicators,which could have a rounding difference of absolute amount for not more than 0.04 per ADS.12