Luckin Coffee, Inc. · OTC:LKNCY
Luckin Coffee — Q4 2025 Earnings Presentation
15 slides from Luckin Coffee's earnings presentation, Feb 26, 2026
Slide 1: Luckin Coffee 2025Q4 Earnings Presentation
Luckin Coffee 2025Q4 Earnings Presentation February 26, 2026
Slide 2: Disclaimer
Disclaimer This presentation contains certain financial measures that are not recognized under generally accepted accounting principles in the United States (“GAAP”), including non-GAAP operating income/(loss), non-GAAP net income/(loss), non-GAAP basic and diluted net income/(loss) per ADS. The pre
Slide 3: Business Update / Financial Highlights
BUSINESS 1 UPDATE FINANCIAL 2 HIGHLIGHTS
Slide 4: Business Update
BUSINESS UPDATE = juckin coffe
Slide 5: Solid Fourth Quarter Marked by Luckin's 30,000th-Store Milestone
Solid Fourth Quarter Marked by Luckin’s 30,000th-Store Milestone Total Net Revenues GMV(1) Average Monthly Transacting SSSG(3) Customers(2) (Self-Operated Stores) RMB12.8 billion RMB14.8 billion 98.4 million 1.2% +32.9% YoY increase +32.8% YoY increase +26.5% YoY increase Store-Level Operating Profi
Slide 6: Strong Full-Year Performance with Market Share Gains amid an Evolving Competitive Landscape
Strong Full-Year Performance with Market Share Gains amid an Evolving Competitive Landscape Total Net Revenues GMV(1) Net New Store Openings(2) Cumulative Transacting Customers (as of December 31, 2025) RMB49.3 billion RMB56.6 billion +8,708 stores 450+ million +43.0% YoY increase +42.3% YoY increas
Slide 7: Scale Advantage Cements Market-Leading Position
Scale Advantage Cements Market-Leading Position Footprint in China CORE THEME OF GLOBAL ORIGINS 30,888 +1,792 Total store count* Net new store openings(1) QoQ 20,144 (+1,335 QoQ) Self-operated stores 10,744 (+457 QoQ) Partnership stores Footprint outside China STORE EXCLUSIVE 160 +42 SIGNATURE CRAFT
Slide 8: Product Innovation Delivers High-Quality and Resonant Customer Experiences
Product Innovation Delivers High-Quality and Resonant Customer Experiences LAUNCHED IN 2025 #FROM THE CUSTOMER BASE ORIGIN 140 SKUs TO YOU 450+ million Cumulative transacting customers 23 IP collaborations (As of December 31, 2025) Ethiopia 117+ million Yunnan New transacting customers in 2025 Mandh
Slide 9: Sustainability Initiatives Drive Social Value and People-Centric Impact
Sustainability Initiatives Drive Social Value and People-Centric Impact Fostering Inclusive Government-Enterprise Partnership Supporting Work & Consumer Environments Sustainable Growth of the Zigui Navel Orange Industry Luckin Action “Moss Flower Compact” Committing to equal employment 1st accessibl
Slide 10: Financial Highlights
FINANCIAL 2 HIGHLIGHTS
Slide 11: Continued Topline Momentum Driven by Our Scale-Focused Strategy
Continued Topline Momentum Driven by Our Scale-Focused Strategy Total net revenues Self-operated stores 20 ,00 0 20 ,00 0 (1) (2) 18 ,00 0 (in million RMB) 18 ,00 0 Revenues from self-operated stores SSSG (in million RMB) 16 ,00 0 FY2025 16 ,00 0 13.5% (3.4%) 1.2% 14 ,00 0 12,777 14 ,00 0 12 ,00 0 F
Slide 12: Growing Store Network and Customer Base Underpin Long-Term Growth
Growing Store Network and Customer Base Underpin Long-Term Growth Number of Stores(1) Net New Store Openings(2) Average Monthly Transacting Customers(3) Self-operated stores Partnership stores* Self-operated stores Partnership stores* (in millions) Quarterly Average +3,008 31,048 112.3 91.7 98.4 +1,
Slide 13: Profitability Impacted by a Higher Delivery Mix Despite Prudent Operating Discipline
Profitability Impacted by a Higher Delivery Mix Despite Prudent Operating Discipline 2025Q4 FY2025 2025Q4 FY2025 Operating margin 6.4% 10.3% Net margin 4.1% 7.3% Store-Level Operating Margin(1) Cost of Materials General & Administrative Expenses, Delivery Expenses (Self-operated Stores) Sales & Mark
Slide 14: Solid Cash Reserve and Robust Cash Generation Capabilities
Solid Cash Reserve and Robust Cash Generation Capabilities Cash Inflow from Cash at Bank and on Hand(1) Interest-Bearing Debt Operating Activities As of December 31, 2025 2025Q4 RMB RMB As of December 31, 2025, there is no 8,964.4 million 564.8 million outstanding interest-bearing debt Notes: (1) In
Slide 15: Thank you
Thank you！