Luckin Coffee has 6,024 stores, surpassing Starbucks. According to the annual performance of luck in Coffee 202 1, Luckin Coffee has maintained a strong development momentum. In the fourth quarter of 20021,Luckin Coffee added 353 stores and 6024 stores, surpassing Starbucks.

The number of stores in Luckin Coffee has reached 6024, surpassing Starbucks 1. Ruixing's dream of surpassing Starbucks has finally come true. On March 24th, Luckin Coffee (OTC: LKNCY) released the unaudited financial reports for the fourth quarter of 20021and the fiscal year of 20021. The data shows that the total net income of Luckin Coffee in the fourth quarter was 2,432.7 million yuan, an increase of 80.7% year-on-year; The total net income in 20021fiscal year was 7.965 billion yuan, up 97.5% year-on-year.

According to the financial report, the GAAP operating loss of Luckin Coffee in fiscal year 202/KLOC-0 was 539 million yuan, which was significantly reduced from 2.587 billion yuan in fiscal year 2020. The non-GAAP operating loss in fiscal year 2002/KLOC-0 was 236 million yuan, and the loss in fiscal year 2020 was 2.494 billion yuan. Luckin Coffee said that its non-GAAP operating loss did not adjust the losses and expenses related to fictitious transactions and restructuring, involving 340 million yuan and 475 million yuan in fiscal years 20021and 2020.

Ruixing said that based on the current situation, the company expects to reduce the losses and expenses related to fictitious transactions and restructuring in the second quarter of 2022 after the successful completion of the provisional liquidation in the first quarter of 2022.

With the progress of debt restructuring, Luckin Coffee also began to shift its focus to the profit level. In fiscal year 20021,the same-store sales growth rate of Ruixing's self-operated stores reached 69.3%, and the store-level profit of self-operated stores also turned positive for the first time in 20021252.8 million yuan, with a loss of 434.7 million yuan in the same period of 2020.

At the same time, in the fourth quarter of 20021,Luckin Coffee added 353 stores. By the end of 20021,the total number of stores had reached 6,024, including 4,397 self-operated stores and 627 franchised stores1,making it one of the largest chain coffee brands in China, surpassing the data of 5,557 Starbucks stores in China.

Ruixing can surpass Starbucks in a short time because of the smooth development of its joint stores in the sinking market. In the fourth quarter of 2002/kloc-0, the income of Ruixun's self-operated stores was183.72 million yuan, up by 61.0% year-on-year; The franchise store revenue was 448.8 million yuan, a year-on-year increase of 248.4%.

Guo Jinyi, Chairman and CEO of Luckin Coffee, said, "With the expansion of joint venture stores to low-tier cities in China, we have witnessed a substantial increase in revenue contribution. Facts have proved that this cooperation model is highly complementary to our self-operated store strategy. "

From the revenue side, the revenue of self-operated stores in fiscal year 2002/KLOC-0 was 665,438+93 million yuan, up 78.3% year-on-year; The franchise store revenue was 65.438+30.6 million yuan, up 365.438+02.5% year-on-year.

By the end of 20021,65438+2, 3 1, Luckin Coffee's cash and cash equivalents, restricted cash and short-term investments were RMB 6.555 billion, compared with RMB 5189 million in the same period in 2020. The main reason for the increase is to raise funds.

Ruixun believes that the end of the liquidation state indicates that the governance structure of Ruixun has fully returned to normal, which means that not only the debt risk has been eliminated, but also Ruixun can support the refined operation with stronger financial strength, thus achieving more stable expansion.

At present, it is still possible for Ruixing to return to Nasdaq, and further expansion may become the only way. However, judging from the current size of Ruixing, the risk of accelerating expansion again can not be ignored in the context of not yet achieving profitability. At the same time, Tims China, Pai Coffee, manner and many other old and new brands have completed several rounds of financing. Luckin Coffee is no longer scarce, blindly expanding or pulling Ruixun back to the old road.

Luckin Coffee has 6,024 stores, surpassing Starbucks. On March 24th, 2022, Luckin Coffee (OTC:LKNCY) released the unaudited financial report for the fourth quarter of fiscal year 20021. The data shows that the total net income of Luckin Coffee in the fourth quarter was 2,432.7 million yuan, up 80.7% year-on-year. Among them, the income of self-operated stores was 65.438+83.72 million yuan, a year-on-year increase of 665.438+0.0%; The franchise store revenue was 448.8 million yuan, a year-on-year increase of 248.4%.

Although affected by the COVID-19 epidemic, the same-store sales of Ruixun's self-operated stores continued to grow strongly, with a growth rate of 43.6% in the fourth quarter, thanks to the substantial increase in the number of trading users and the increase in product sales. In the fourth quarter, the average number of trading users increased by 67. 1% year-on-year, reaching16.2 million, setting a new record for Ruixing.

At the same time, in the fourth quarter of 20021,Luckin Coffee added 353 stores. By the end of 20021,the total number of stores had reached 6,024, including 4,397 self-operated stores and 627 franchised stores1,making it one of the largest coffee chain brands in China.

Judging from the annual performance of luck in Coffee in 20021,Luckin Coffee maintained a strong development momentum, and the profit rate of self-operated stores and the overall profitability of the company increased significantly in the fourth quarter and the whole fiscal year of 20021. The total net income reached 7.9653 billion yuan, an increase of 97.5% compared with 2020, while the same-store sales growth rate of self-operated stores reached 69.3%. The store-level profit of self-operated stores also turned positive from 202 1 22.528 million yuan for the first time, and the loss in the same period in 2020 was 434.7 million yuan.

Dr. Guo Jinyi, Chairman and CEO of Luckin Coffee, said: "With the joint efforts of the team, Luckin Coffee maintained a strong development momentum in 20021year, and the profit rate of self-operated stores and the overall profitability of the company were greatly improved in the fourth quarter and the whole year of 20021year.

These outstanding performance growth further consolidated our market leading position, and strongly proved our unique value proposition, innovative product portfolio and excellent brand recognition. In the future, we will continue to strive to provide reliable and innovative products and services to our customers and bring more long-term value to our shareholders. "

According to industry insiders, in the overall downturn of the catering industry, overall, Ruixing's performance is excellent, which indicates that Luckin Coffee has entered a new development period. Over the past year or so, the new management of Ruixing has continuously improved the corporate governance structure, promoted the reshaping of corporate culture, persisted in product and technological innovation, and continuously enhanced the company's competitive advantage through refined operation;

On the other hand, face up to the problems left over from history and actively promote the process of debt restructuring in accordance with the requirements of the regulatory authorities. The end of liquidation indicates that the governance structure of Ruixun has fully returned to normal, which means that not only the debt risk has been eliminated, but also Ruixun can support the refined operation with stronger financial strength, thus achieving a more stable expansion.

Luckin Coffee has 6,024 stores, surpassing Starbucks. On the evening of March 24th, Luckin Coffee released the Q4 and annual financial report of 20021year. The financial report shows that in 20021year, Ruixun achieved a total net income of 7.965 billion yuan, an increase of 97.5% compared with 4.033 billion yuan in 2020; Net income in the fourth quarter was 2.432 billion yuan, up 80.7% year-on-year.

Specific to the operational level, the financial data of Ruixing Q4 has improved significantly year-on-year, whether it is revenue or loss. In the fourth quarter, the income of Ruixing's self-operated store was 65.438+83.7 million yuan, a year-on-year increase of 665.438+0%. The average selling price and the growth of monthly users are the main reasons-Ruixing Q's monthly users reached 654.38+0.62 million in April, up 676.5438+0% year-on-year.

The franchise store Q4 contributed 448 million yuan, a year-on-year increase of 248.4%. By the end of last year, Ruixing * * * had 6,024 stores, including 4,397 self-operated stores and 1627 franchised stores; The number of newly opened stores 122 1 increased by 25.4% year-on-year, of which 60% came from franchised stores.

For the whole year, in 20021year, the income of Ruixing's self-operated stores was 665,438+93 million yuan, up by 78.3% year-on-year, of which the same-store sales of self-operated stores increased by 69.3%, and decreased by 7.8% in fiscal year 2020. In 20021year, franchise store revenue was130.6 billion yuan, up by 3 12.5% year-on-year.

In addition, Luckin Coffee Q4 separated distribution expenses from sales and marketing expenses for the first time. The financial report shows that the distribution expense of Luckin Coffee Q4 is 233 million yuan, up 83.8% year-on-year, slightly higher than the net income growth rate of 80.7%. Ruixing said that the increase in distribution costs was mainly due to the increase in the number of distribution orders.

With a number of data entering a period of rapid growth, Ruixing's profitability has also greatly improved. The front-end profit margin of Q4 Ruixun's self-operated store has reached 20.9%, which is significantly higher than last year's 8.7%, greatly narrowing the operating loss of Q4 Ruixun under non-GAAP to 23.6 million yuan, compared with a loss of 369 million yuan in the same period in 2020, and the profit is close at hand.

In the financial report, Ruixun also revealed that the losses related to false transactions and restructuring in the fourth quarter reached RMB 6,543,809,400 (USD 6,543,807,200), an increase of 2,654,338+0.8% compared with RMB 8,988,000 in the same period in 2020. However, with the smooth completion of the interim liquidation of Q654.38+0, Ruixun estimated the losses related to false transactions and restructuring.

65438+1On October 27th, Luckin Coffee announced that Dalu Capital, together with top international investment institutions and Ares, completed the acquisition of 383 million shares of Ruixing entrusted by KPMG and its management team. After the completion of the transaction, Datong Capital became the controlling shareholder of Luckin Coffee, holding more than 50% of the voting rights of the company.

This announcement means that the ownership of the original management has been terminated for more than one year. Coupled with debt, there is speculation that the original fraud team headed by Lu will return to the market. The market's anxiety about the management changes of Ruixing also dissipated.

There has long been speculation that Ruixing will return to the Nasdaq main board market. 65438+ 10 in 2022, there was such a rumor in late June. Although it was denied by Ruixing, it also reflected investors' expectations for Xinrui Xing. Theoretically speaking, Ruixing is fully qualified to return to the main board. With the key "minefields" being dismantled one by one, it is only a matter of time and procedure.

Capital has a keen sense of smell. Although Ruixing retired from the powder list market, its share price soared, from the lowest less than 1 USD to the highest 17.79 USD, with an increase of more than 17 times. As of this morning's close, Ruixing's quotation in the powder sheet market is $65,438 +00.7.